BOB LANG: Good morning, Action PLUS subscribers. It's November 18, 2022, Friday, options expiration day. It's time to talk about our rundown here. Let's get going here. So plenty of volatile action today. And we're going to see it pretty much most of the day as November monthly options will expire after the close.
In addition, some other instruments will actually expire during the day, during the trading day, and into the end of the day, as well too. So as we have seen such big movements this month of November and from the end of October, which in terms of price action it means there's going to be some big winners and losers on both sides of options strike. So buyers and sellers of calls, buyers and sellers of puts, are going to be-- there's going to be some big winners and some big losers by the end of the day.
So basically what that means is that options are going to be exercised by the end of the day. So that means a lot of stock is going to be moving back and forth from buyers to sellers. So it's going to create a lot of volatility here today. Big movements in the markets, bigger than we expect. And of course with volatility ticking at about 23%, the market is expecting about a 1.3% or 1.4% move intraday. We may or may not get that depending on how the options go by the end of the day.
But once the day is over, of course, it's time to move on to Thanksgiving week. We are still mired in this range of 3,900 to 4,000 on the S&P 500. Earlier in the week, the markets tried to make a move above that 4,000 level was rejected soundly on two different occasions.
That tells us what? Sellers are active above the 4,000 level. But the flip side of that, buyers were quick to pick up positions yesterday as we made a move down towards that 3,900 level. Didn't quite get down that far, but about 3906 or so. And buyers snapped up shares on that level. So we can certainly see that we're mired in that 3,900 to 4,000 level.
What seems to be holding up here? The big run just after the CPI, which was on Thursday of last week, that was the 10th of November. That big run after the CPI report, of course, the markets moved about 215 points to the upside on that one day. From November 10th, it's being nicely held up by the bulls. Pullbacks seem to be bought, as we saw yesterday. And that is encouraging for market upside momentum.
And finally, we have CIBR, C-I-B-R, which is a component in the Action Alert PLUS portfolio. And while there was no real news directly related to the ETF yesterday, we did have one of the components, one of the bigger ones, Palo Alto Networks-- say that one three times real fast. Palo Alto Networks reported earnings last night, real strong earnings, and gave some good guidance. Now Palo Alto is the fourth largest name in the CIBR ETF, and it's being pushed up a little bit today with some of the other names as well too.
Palo Alto Networks, as well, made another acquisition yesterday. A smaller one but it certainly fortifies their stance in cybersecurity. And frankly, they've talked about, and a lot of the other companies that we have in the cyber portfolio, like CrowdStrike and Zscaler, they've talked about the warnings that are being made with bad players out there, and bad actors like in Russia and China and other places, that could put the United States and other countries at risk with cyber attacks.
So I think this is certainly an area where companies, even if they're tightening their belts a little bit with expenses, they do have to spend money on cybersecurity. So we're right in the crosshairs of that with the C-I-B-R ETF. So we like it. We like having the exposure there. And we'll be watching this along with some of these other names that are in their portfolio.
So that's going to be it for now. Have a great weekend, everybody. And we'll see you back on Monday.