JPMorgan's Marko Kolanovic comments on option expiries around the time of the FOMC December meeting

(With thanks to Jerry in the comments for the heads up to this)

ZeroHedge and Bloomberg have more details, but in brief (via Bloomberg)

$1.1 trillion worth of Standard & Poor's 500-stock index options-of which $670 billion are puts-will expire on December 18

Roughly one-third of the puts poised to expire are at or near the money, with strike prices from 1,900 to 2,050

"Clients are net long these puts and will likely hold onto them through the event and until expiry"

"At the time of the Fed announcement, these put options will essentially look like a massive stop loss order under the market."

A heads up for this factor that may exacerbate volatility around the time of the FOMC meeting