Volume in last week’s trading was quiet, but even on options expiration last Friday, a day when trading activity is typically above average, volume in the S&P 500 tracking ETF (SPY) came in nearly 30% below its 50-day moving average.  In today’s Chart of the Day, we look at where Friday’s weaker than average volume ranks relative to prior options expirations days, as well as how the S&P 500 performed following prior options expiration days when volume was significantly weaker than average.

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