With just over a week left until the monthly settlement, this mini-bull market has entered a lull, with most trading centered around expectations of sideways movement. As the saying goes, “Even a strong bow’s arrow loses its power at the end and cannot pierce fine linen.” However, another positive signal emerged this morning: a whale proactively purchased 500 sets of 90K/95K bull spreads expiring at the end of the month. This is a directional trade that has been relatively rare lately, indicating that the whale is anticipating some market movement in the final days of the month.