When I was an options market maker I would dread January expiry.  It was a bookkeeping nightmare since it was by far the largest expiry of the year with hundreds (sometimes thousands) of options all expiring in my portfolio on the same day. January expiry options are listed two years in advance (you can trade Jan 15 options in many names as of today) so the options positions would build up over the course of that time. Once expiry day finally came I had myriad residual positions to watch and clear. As a result my anecdotal experience was that ...