Volume - Days of the Week.
Here's a chart of the average volume for each day of the week for the XAO since the beginning of June, 2011. For the Friday data, I took out all of the Equity Option Settlement days when volume is inflated. I still left in the Index Option Settlement days, which are also inflated but not to the same extent as the Equity Option Settlement days. So the Friday figure should be looked at with some suspicion. Even so - it still was not the highest volume day of the week.
I also took out the volume on days of public holidays in particular states; e.g., the October Labor Day and Melbourne Cup Day. Volume is atypically low on those days.
Monday is clearly out of kilter with the rest of the week. I think it would be unwise, therefore, to put much significance on a low volume day on Monday relative to the two previous days (Thursday and Friday). But - if it is a high volume day relative to the two previous days, we might have something.
The drop off on Friday, relative to Thursday, is small. But, if the Index Option Settlement Days were excised the drop off would be clearer.
Redbacka
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