Quadruple Witching- Does anyone benefits from the witching hours?
Quadruple Witching is a term which is used for stock market trading days which end on the third last Friday of March, June, September, and December every year. The last Quadruple Witching hour of 2009 was the last trading hour of December 18, 2009.
With the end of quadruple witching hour, three kinds of stock market securities also end. These three kinds of securities include stock market index futures, index options, and stock options. Does quadruple witching causes any effect on stock exchanges? Apparently, quadruple witching is causing a good stock trade. The last quadruple witching is also called a day marking the end of year’s earnings as stock trading will be dead for next week because of Christmas.
Here’s a summary of stock trading activity in US on quadruple witching:
Early Friday, stock exchanges reported gains. Dow Jones Industrial average grew with 16 points; NASDAQ grew with 19 points, while SPX rise with 4 points.
Technology shares gained points. Lead gainers on the quadruple witching were Oracle and Research in Motion. Oracle’s share rise with 6.7% increment on quadruple witching. The forecasted earning were 36 cents per share but the actual earnings during the quadruple witching hour beat the forecast. Research in Motion reported an increment of 10.6% in share price on quadruple witching.
Stock exchanges in Asian continent ended lower while European stock exchange indexes were higher during midday on quadruple witching.
US dollar lowered against euro and pound but increased against Japanese yen on Friday.
Quadruple Witching
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