Today is Quadruple Witching. (see blog March 15)
Without any reason, the Dow closed down 40 points at 10,738. The NASDAQ lost 16 points
to close at 2,374. The S&P lost 7 points to close at 1,159.
Volatility occurred due to the expiration of Quadruple Witching options. Some stocks closed just under the strike price. Therefore on Monday morning, those stocks will still be in the owners’ portfolio. Here are some examples:
RFMD closed at $4.95. During the week, it traded over $5.00 a share. RFMD is anticipated to open higher Monday morning.
STX closed at $18.96 after trading most of the week above $19 a share. It is most likely to open higher Monday morning.
MU closed at $9.96 after trading most of the week above $10 a share. It too is likely to open higher Monday morning.
BX closed at $13.99 after trading above $14 a share most of the week. The stock likely open higher Monday morning.
Some stocks closed above options expirations and are most likely to open down Monday morning.
Below are some examples
AMD closed at $9.15.
INTC closed at $22.01
AMZN closed at $130.30
If no major events occur this weekend, the stock market is likely to open higher Monday morning.