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Definition of 'Quadruple Witching'
A day on which contracts for stock index futures, stock index options, stock options and single stock futures (SSF) all expire.
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
While other markets can influence CL. I really doubt this has much bearing on what CL does.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
I do not think it does. But we are approaching rollover for CL, which should latest roll by Tuesday next week. This means higher volatility for the old contract ahead, as the delivery place for CL is an inland depot in Cushing, Oklahoma.
There is no absolute answer, but on the last two times I noticed it closed very close to the handle. I was learning some interesting information from some floor traders about Pin Risk . Where the price lands can change the delta from 0 to 1.00, so I think a lot of institutional money wants to lock it in around a certain round number. I am always curious to see what happens in the future. I might keep a journal....
"I have two basic rules about winning in trading as well as in life: (1) If you don't bet you can't win. (2) if you lose all your chips, you can't bet."
--- Larry Hite from Market Wizards by Jack D. Schwager
lets start one right now. 6/15/2012 (quadruple witching) CL pit close: $84.02 electronic close $84.03
"I have two basic rules about winning in trading as well as in life: (1) If you don't bet you can't win. (2) if you lose all your chips, you can't bet."
--- Larry Hite from Market Wizards by Jack D. Schwager
I think many stocks and possibly some instruments are pinned but not so sure about CL. I think this mainly happens in individual stocks but is much harder for powers that be to do this with a futures contract although can't be ruled out.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
