Dax starts virtually unchanged - Focus on options expiration
The Dax opened almost flat on Friday, showing little movement in early trading. Today marks the year’s biggest options expiry for the index, with major contracts set to close. Meanwhile, the euro lost slight ground against the dollar, and oil prices dipped marginally.
By 9:30 AM local time, the Dax hovered at around 24,210 points, just 0.1% higher than Thursday’s close. The session’s focus fell on the expiry of four large options contracts tied to the 24,000-point level. Nearly 10,000 call options and close to 7,000 put options are due to expire at this critical threshold.
Among individual stocks, Siemens Energy, Deutsche Post, and Commerzbank led gains within the index. On the other hand, Symrise, Adidas, and SAP underperformed. The companies linked to the expiring options include Ceconomy AG, Metro AG, MediaMarktSaturn Retail Group GmbH, and CECONOMY Retail International GmbH. In currency markets, the euro weakened slightly, trading at $1.1714. Oil prices also edged lower, with a barrel of North Sea Brent crude falling by 22 cents to $59.60, a 0.4% decline from the previous session.
The Dax remains nearly unchanged as traders watch the expiry of key options contracts. The euro’s minor drop and the slight fall in oil prices add to a subdued start for financial markets. Today’s expiry could influence short-term movements in the index.
