Oct DJX was all about no ratio and Nov is no better, today’s ratio rollover table, levels and comment.

DJX Oct to Nov Rollover Ratio Table 17th Oct 2018



The overriding theme this expiry has been the significant lack of ratio around in the DJX, which has led to all these extreme moves.

We don’t believe in coincidences so the fact this market finished right on 25800, the top of the Y2 ratio bandwidth, is significant.

Also, another significant aspect is the activity, and compare what it is here to the “very good” we saw in the SPX and it becomes abundantly clear that despite perfect trading conditions for derivatives this index has seen none of it.

It really has been ignored from the very start and so the same conditions persist.

Therefore, we of course would like to see it get back into its Y1 ratio bandwidth, which would also give its zone a chance of meeting the market come expiry, but nobody seems bothered, so big moves ahoy.


Range:            25200  to  25800        or        25800  to  26500     

Activity:          Very poor

Type:               Bearish



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The trouble is when nobody cares this is what you get, as in November we are back to that 1000-point zone that has just started appearing this year.

It really doesn’t help that there are only ever four of these intermediary to intermediary expiries a year, and which by their very nature are poorly attended.

On a more positive note at least we have some R ratios, and either side of this mammoth zone, but at least they are there.

The situation may well change before we have another look at this index, but as they stand, we would say the Oct expiry was just the warm-up act for this expiry.


Range:           25500  to  26500 

Activity:         Average

Type:              Neutral



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October 17th, 2018 by