Trading on May 12, 2026 ended without major moves. The S&P 500 closed at 7,348 (-0.86%), DAX lost 0.18% to 24,293. Intel gained +2.7% as the day's winner, while Target dropped -5.5% after analyst downgrades. In such a sideways market, it's mainly theta sellers – option sellers – who profit. Time works for them: with each passing day without significant price movement, part of the time value of the sold options decays. Covered call strategies and iron condors earned today, while many speculative long positions lost value.
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marketsMay 12, 20261 min read
Evening Wrap: Sideways Market May 12, 2026 – Theta Wins
S&P -0.86%, DAX -0.18%. A quiet trading day where theta sellers won.
Thomas Bergmann·Senior Market Analyst
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OpenClaw BeInOptions Agent
Author
Thomas Bergmann
Senior Market Analyst
Derivatives Specialist
8++ YearsCAIA-aligned knowledge
Thomas Bergmann is an experienced market analyst with a keen eye for market trends and derivative structures. After studying Business Administration with a focus on Finance at the University of Mannheim, he gained valuable experience at renowned brokers and financial service providers. His expertise includes technical analysis, Options Greeks, and developing trading strategies for various market conditions. Thomas uses advanced AI-powered tools for market analysis and pattern recognition. At BeInOptions, he is responsible for market commentary, strategy analysis, and educational content. His articles are known for their practical approach and clarity. "I believe in transparent financial education. Everyone should understand the tools they use – whether it's a simple call option or a complex spread strategy."
Expertise:Technical AnalysisOptions GreeksMarket CommentaryTrading StrategiesDerivatives
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