Opex
TradingDefinition
Options expiration. Monthly options expire on the third Friday of each month; quarterly options expire at quarter-end. Opex weeks see elevated volatility because dealer hedging unwinds force flows in the underlying.
"Triple witching" (third Friday of March, June, September, December) sees stock options + index options + index futures all expire same day — historically the most volatile day of each quarter.
"Triple witching" (third Friday of March, June, September, December) sees stock options + index options + index futures all expire same day — historically the most volatile day of each quarter.