Options expiration is a story told every year, but what is its actual impact on the market? Almost none. The key reason is actually very simple—it's currently the US Christmas holiday, and big funds have long been on vacation. During this period, market trading volume is naturally sluggish, and the influence of options expiration is significantly diminished. Instead of focusing on options data to find signals, it's better to wait until the US holiday ends to see the real market reaction. Many people treat options expiration as a market indicator, but in special periods like holidays, it is at best just a facade.