Did Someone Just Get Carried Out In S&P Futures?

In a mirror-image move of May’s WTI collapse, S&P 500 futures had a ‘WTF’ moment this morning as the June contract expired.

In the final 5 seconds of trading ahead of the expiry of the June futures contract, the S&P exploded over 30 points higher (from around 3160 to close at 3196) on notable volume…

…as we suspect some options market-maker’s algo went wild in its last ditch effort to minimize pin-pain.

This was absolutely not evident in any other contracts…

This massively decoupled from the June contract, and since June’s expiration, September futures have done nothing but fade…

But yeah, the markets are efficient etc. blah blah blah…