Watch the FANG+ into OPEX on Friday 7/17

Chart is indexed with:
S&P500 ~0% YTD
NASDAQ ~25% YTD
FANG+ ~66% YTD

FANG+ stocks have been the primary driver of the larger stock indicies, while the S&P500 is dogging it in comparison.

Coming into monthly option expiry (OPEX) on Friday 7/17, there is a record high call option open interest in the FANG+ stocks.

From an option perspective, which is the primary driver of short term price movements, we wold like to see those options being closed and rolled up at higher strikes.
If those call options are being closed and not replaced, the top may be in for the FANGs in this bull run.

The summery is that next week will be important, and we'll may break the last weeks trading range as a new set of options (both calls and puts) will influence the market.
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