Options360

Triple witching on Friday

Options360 Updated   
NASDAQ:QQQ   Invesco QQQ Trust, Series 1
Triple witching, also known as quadruple witching, is a financial market event that occurs on the third Friday of March, June, September, and December each year. In 2024, the dates are: March 15, June 21, September 20, and December 20. The simultaneous expiration of stock-index futures, options on stock-index futures, single-stock options and index options can generate significant volatility and volume. However, the E-Mini S&P 500 (ES1!), E-Mini Nasdaq-100 (NQ1!), Dow Jones Industrial Average (YM1!) and Russell 2000 (RTY1!) futures contract switch was last week.

Here's a 1 week chart of SPY and QQQ. This support and resistance trend channel is based on the trajectory so far since the October 2022 low till last weeks high. *if this trend trajectory continues until the end of the year, then SPY range is 550- 590 and QQQ range is 500 - 550 by 1/1/25. However, the red resistance line is a short area and green support line is a long area along the way. *if the trend changes you will know based upon this trend channel.

Don't forget the Markets are closed on Wednesday for the Juneteenth national holiday.
Comment:
Comment:
6/21/24 expiry options data:

SPY
Put Volume Total 305,208
Call Volume Total 321,493
Put/Call Volume Ratio 0.95
Put Open Interest Total 3,537,501
Call Open Interest Total 1,551,540
Put/Call Open Interest Ratio 2.28

QQQ
Put Volume Total 7,321
Call Volume Total 7,858
Put/Call Volume Ratio 0.93
Put Open Interest Total 2,637,832
Call Open Interest Total 1,636,824
Put/Call Open Interest Ratio 1.61

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.