This Friday is Options Expiration (referred to as OPEX). This is also the quarterly OPEX which is called 'QUAD WITCH'. It can and usually does have an impact on the markets. Here is the current picture for the @StateStreetETFs $SPY ETF for this Friday via our market indicators.
1/ Max Pain for the $SPY for this Friday and a definition of what Max Pain is... 
2/ Here is the Open Interest as of this Friday options for $SPY and a definition for Open Interest
3/ Here is the actual executed options trades for this Friday. You can see they form a bell curve. This implies that the market participants have positioned themselves around a pretty specific set of strikes for this Friday's QUAD WITCH OPEX.
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