Triple witching hour

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Triple witching hour (sometimes referred to as "Freaky Friday") is the final hour of the stock market trading session on the third Friday of every March, June, September, and December. Those days are the expiry of three kinds of derivatives,

• Stock index futures.
• Stock index options.
• Stock options.

The simultaneous expirations often set off heavy trading of options, futures and the underlying stocks, which can cause large fluctuations or volatility in the value of their underlying stocks.

With the introduction of single stock futures expiring on the same days, triple witching has become quadruple witching^{[citation needed]}.

[edit] See also

• Program trading