A Record $2 Trillion Options Just Traded; What It Means For Friday’s Massive Quad Witch OpEx

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News Story Source: https://www.zerohedge.com by Tyler Durden
…especially Friday's upcoming quad-witch which sees some $1.5 trillion in SPX option expirations, as well as $1.4tln in options across underlyings expiring on Friday afternoon, including the 2nd largest expiration for single stocks outside of a January.

Courtesy of Goldman, here Four observations on option positioning ahead of Friday's quarterly maturity:

1. Option volumes have been continuing to grow relative to delta-one volumes. Both index and single stock option markets have shown volume growth in Q3, while delta-one volumes (futures and shares) have fallen. Having traditionally traded well below 100%, SPX options notional volumes are now double the volume of futures traded

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