Quadruple Witching Day — record $8.3T expiries

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quadruple witchingderivativesoptions

On Thursday, June 18, a Quadruple Witching Day took place.

During a single trading session, options with a notional value of approximately $8.3 trillion were traded, surpassing the previous record of $7.1 trillion, set in December 2025, by 18%. Derivatives markets continue to set new records. This indicates that investors increasingly prefer managing risk and expressing views through derivatives rather than through outright purchases or sales of stocks and bonds.

A Quadruple Witching Day is the simultaneous expiration of:

  • stock options,
  • stock index futures,
  • stock index options, and
  • single-stock futures.
Donut chart (June 18, 2026) showing $8.3T options expiry notional split across SPX AM, SPX PM, single-stock, non‑SPY ETF and SPY segments with percentages.
Chart: June 18, 2026 expirations totaling $8.3T, broken down by instrument segments and percentages.

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