Mike Zigmont Mike Zigmont, author of the Zigmont Report, is a partner at New York-based Harvest Volatility Management, a hedge fund with over $10B AUM, offering volatility management solutions to its investor base worldwide. Mike has been publishing his daily newsletter (Monday-Friday) privately for the firm’s investors and his personal contacts in the investment business

since 2008, sending it daily shortly after the market close.

The opinions expressed below are my own

Is it Memorial Day yet? That’s what it seemed like. Today was quiet. I’m going to need a longer list of synonyms for quiet because trading has been uninteresting for a couple weeks and it doesn’t show any signs of changing. Capital flow was 80% today. The S&P had a high-low range of 10 points (37 bips). Since the early 80’s , that’s a 4-percentile day for intraday movement.

Here’s the added wrinkle about today…it was option expiration


. Usually on an expiration


, capital flow is 120-140%. Usually, there’s some movement in the underlying. That obviously didn’t happen today. I don’t remember an expiration


with such light volume. There’s nothing to say and there’s no good/interesting interpretation.

It’s quiet. Too quiet. Whaddya gonna do?

Have a great weekend, see you