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Market Review:
Rollover and Expiration (Part2)
If you have never traded futures, then rollover and expiration is mysterious. Everyone knows it happens. We can wrap our heads around that part. The mysterious part is the idea of retaining the opens that have already occurred. The concept of lead at the time. In the ES the open of the year remains 3895.00. That open was in the March 2023 contract. The open of the Quarter remains 4485.50. That open was in the September contract. The open of the month remains 4516.75. That one is also in the September contract. Starting next week, we will be focused on the numbers in the December contract. However, we do not rewrite the history of the market. Therefore, when we close the month of September, the December contract price will be compared to the open in the September contract. December futures are trading on a 50-point premium!
With the news out of China and other factors, AAPL is making new monthly lows on this Thursday September 7. Support levels to be aware of moving forward include the August low at 171.96. That is currently also the low of the 3rd Quarter. AAPL made its high of the month on September 5. The open of the 3rd Quarter was 193.78.
Past performance is not indicative of future results. Futures trading involves substantial financial risk.
Please consult your personal financial advisor before using this information for your own trading purposes.
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