April's monthly option expiration is generally bullish across the board, with respectable gains on the last day of the week, the entire week, and the week after. Since 1982, DJIA has advanced 28 times in 44 years on monthly expiration day, with an average gain of 0.20%.
DJIA has risen in 34 of the past 44 April options-expiration weeks (next week), with an average gain of 1.00%. The S&P 500 and NASDAQ also show strong seasonality, averaging weekly gains of 0.77% and 0.76%. Losses in 2022, 2024, and 2025 have tempered the longer-term averages.
DJIA Up in 77.3% of April OpEx Weeks since 1982.
S&P 500 Up in 65.9% of April OpEx Weeks since 1982.
S&P 500 has a similar record, also with 28 advances and an average advance of 0.15% on monthly expiration day. Monthly expiration day was trending solidly bullish after four or five declines from 2014 to 2018, but took hits in the 2022 bear market, 2024, and in 2025 due to Liberation Day tariff uncertainty.
► April seasonality strong: 2nd-best month for DJIA and S&P; 4th for NASDAQ.
► April 2026 started solidly (+0.52% DJIA, +1.98% NASDAQ) despite geopolitical tension, rising energy costs, April 15 tax deadline.
► Historically, early April outperformed—since 1994, strength shifted to second half.
► Post–April 15 stronger (especially NASDAQ, Russell 2000).
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