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Options traders expect the S&P 500 index to hover around 7000 points by the end of the year.
According to ChainCatcher news and Jin10 reports, options traders expect the S&P 500 index to hover around 7000 points by the end of December. If it reaches this integer threshold, it will mean a 19% rise in the index by 2025. Currently, there is only a 2.5% gap from Thursday's closing of 6,822.34 points. Although Wall Street remains optimistic about the outlook for U.S. stocks, Fed Chairman Powell stated that a third rate cut is far from certain, and signs of an economic slowdown are starting to emerge. Gateway Investment Advisors investment strategist Ferrara pointed out that the 7000 points strike price is a very popular psychological level.