General
triple witching
What does triple witching mean?
Third Friday of March, June, September and December. Three derivative classes — stock options, stock-index futures and stock-index options — expire on the same day. Hedges get unwound en masse, volume explodes, and weird closing prints are a feature, not a bug. (Single-stock futures made it 'quadruple witching' for a while, but those got delisted.)
"Volume on triple witching can hit three times an average Friday — algos love it."
Frequently asked questions
What is triple witching?
It's the quarterly Friday when stock options, index options, and index futures all expire together.
When does triple witching happen?
It falls on one Friday each quarter, when those three types of derivatives simultaneously reach expiration.
Why does triple witching matter to traders?
The simultaneous expiration of options and futures can spike trading volume and volatility in the market.
Study it as flashcards or scroll it in Vocabulary Flow — saved to your collection.
