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This week was a Triple Witch Week in the markets. Triple Witches are the four days in the calendar year that feature the expiration of four different option indices.
While the volume was and still is quite large on Triple Witches, the volatility is usually pretty subdued. The thing to watch out for is what happens next week.
About 50-60% of options expired on Friday. That means that the market has been reset and has the potential for volatility to jump. As far as the market is concerned, the barn door is open for Monday morning.