What Is Triple Witching?

Triple witching is a key event in the futures and options markets that occurs four times a year—on the third Friday of March, June, September, and December.

During this time, stock index futures, stock index options, and stock options all expire simultaneously, creating a unique trading environment that every futures trader should understand.

Why Does Triple Witching Matter?

This convergence of expirations can lead to significant market activity, impacting liquidity, volatility, and execution quality. Understanding these dynamics is crucial for traders who want to navigate this period effectively.

What Happens During Triple Witching?

·    Volume Surge: Trading activity often spikes as institutions roll over or close positions.

·    Increased Volatility: Expect sharp and unpredictable price swings, especially near the open and close.

·    Institutional Flows Dominate: Market behavior may deviate from typical technical patterns due to large institutional moves.

Implications for Futures Traders

·    High Liquidity—but High Risk: While there’s plenty of activity, slippage and wider spreads are common.

·    Execution Challenges: Rapid price changes can make order fills tricky.

·    Short-Term Noise: Unusual moves may not align with your usual indicators.

·    Important Note: The December contracts (e.g., ESZ25, MNQZ25) will stop trading at 8:30 AM Central Time and will cash settle based on a special settlement price that typically comes out closer to 9 AM Central.

·    Learn more here: CME Settlement Information.

Trading Recommendations for Triple Witching

·    Stay Disciplined: Avoid chasing moves; stick to your trading plan.

·    Use Limit Orders: Helps control slippage in fast-moving markets.

·    Reduce Position Size: Manage risk during volatile periods.

·    Consider Scalping or Staying Flat: Experienced traders may use short-term strategies; others may prefer sitting out.

·    Risk Warning: The last traded price or final traded price will rarely match the final settlement price. We do not recommend waiting for the final settlement. Exit any December positions prior to 8:30 AM Central tomorrow morning.

Bottom Line

Triple witching can present unique opportunities—but also significant risks. Preparation, discipline, and risk management are essential for success during this high-volatility period.

Cannon Edge for March 20th

Introducing Cannon Edge — Your Daily Futures Snapshot Above

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

• Current price and daily % change

• 30‑day and 52‑week highs/lows

• PROPRIETARY Short‑term and long‑term trend signals

June EMini SP 500

The June Emini S&P completed its first downside PriceCount this month and corrected higher. Now, the chart has resumed its break into new lows where the second count projects a run to the 6591 area.

FREE TRIAL AVAILABLE

The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved.

It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk.

Learn more at www.qtchartoftheday.com

Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.

Daily Levels for March 20th, 2026

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Economic Reports

provided by: ForexFactory.com

All times are Central Time ( Chicago)

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

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