Triple Witching Day in June 2024: Unprecedented Options Trading in Nvidia, Economic Growth, Apple's AI Delay, and Market Volatility

New York, New York, USA United States of America
Apple may delay the rollout of AI features in Europe due to uncertainties over EU regulation and new laws
Nvidia has seen unprecedented options trading, particularly call options with about one third of outstanding options expiring on this day
Treasury yields were down, with the 10-year at 4.231%
Triple witching day in June 2024
U.S. business activity grew at its fastest pace in 26 months in June
Triple Witching Day in June 2024: Unprecedented Options Trading in Nvidia, Economic Growth, Apple's AI Delay, and Market Volatility

Triple witching day, which occurs quarterly on the third Friday of March, June, September, and December, is when stock options, stock index futures, and stock index options all expire on the same day. This event can lead to higher volatility in the market. On this particular triple witching day in June 2024, there are several notable occurrences that may impact investors.

Firstly, Nvidia has seen unprecedented options trading, particularly call options, with about one third of outstanding options tied to the company expiring on this day. Additionally, Nvidia's stock split and rebalancing into the $71 billion Technology Select Sector SPDR ETF (XLK) on Friday will result in more cash being thrown at the company's stock than usual.

Secondly, U.S. business activity grew at its fastest pace in 26 months in June according to S&P Global's provisional PMI survey data. This is a positive sign for the economy and may indicate continued growth in certain sectors.

Thirdly, Apple may delay the rollout of AI features in Europe due to uncertainties over EU regulation and new laws. This could impact investors who hold shares of Apple or other technology companies that rely on European markets.

Lastly, Treasury yields were down, with the 10-year at 4.231%. This may indicate a decrease in investor confidence or a shift towards safer investments during this volatile period.

Investors should be prepared for potential market swings and volatility on this triple witching day. It is important to closely monitor the performance of individual stocks, particularly those with significant options trading activity, as well as broader market trends.


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Confidence

85%

Doubts
  • Is the growth in U.S. business activity a sustained trend or just a temporary increase?
  • What specific EU regulations may impact Apple's AI rollout and how significant is this delay likely to be?

Sources

92%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Stock Market Today: Dow Wavers; Triple Witching; Microsoft, Nvidia, DJT, Alibaba, Sarepta, CarMax and More Movers; Treasury Yields Fall

Barron's Financial Group Friday, 21 June 2024 18:44
  • Unique Points
    • U.S. business activity grew at its fastest pace in 26 months in June according to S&P Global’s provisional PMI survey data.
    • Apple may delay the rollout of AI features in Europe due to uncertainties over EU regulation and new laws.
  • Accuracy
    • The three major indexes were swinging between gains and losses on a triple witching day.
    • Nvidia stock was slipping, losing its spot as the world’s most valuable company.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (85%)
    The article contains several examples of inflammatory rhetoric and appeals to authority without providing evidence for the claims made. Additionally, there is a dichotomous depiction of Nvidia's position in the market. No formal fallacies were found.
    • . . . Nvidia stock was slipping, adding to losses from a previous day. The company lost its spot as the world's most valuable company, but the stumble may be short-lived.
    • Apple's latest call to delay the rollout relates to the EU's Digital Markets Act, which imposed far-reaching restrictions on big technology companies and digital competition, but new laws could also harm Apple's and competitors plans in the near future.
    • Nvidia and other highflying chip stocks were struggling again on Friday.
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (0%)
    None Found At Time Of Publication

87%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

5 things to know before the stock market opens Friday

CNBC News Michele Luhn Friday, 21 June 2024 11:18
  • Unique Points
    • Anthropic debuted its most powerful artificial intelligence model, Claude 3.5 Sonnet.
    • Gilead's experimental HIV shot was 100% effective in a late-stage trial.
  • Accuracy
    • The S&P 500 briefly passed the 5,500 level for the first time on Thursday before pulling back.
    • The S&P 500 and Nasdaq notched new records earlier in the week.
  • Deception (80%)
    The article contains some editorializing and selective reporting. The author makes statements about the popularity of AI technology and the importance of certain events, such as the debut of a new AI model or a successful HIV shot trial. However, these statements are not deceptive in themselves as they are based on facts presented in the article. However, there is an instance where selective reporting occurs when only mentioning that Gilead's experimental HIV shot was 100% effective without mentioning that the results need to be replicated in another trial before seeking FDA approval. This could give readers a false sense of certainty about the product. Additionally, there is some editorializing in the title '5 things to know before the stock market opens Friday' which implies that these are the most important things for investors to know, but this is not necessarily true.
    • Gilead needs to replicate the results in another Phase 3 trial before seeking FDA approval.
    • The official start to summer is shaping up to be no different.
  • Fallacies (95%)
    The article contains a few informal fallacies and appeals to authority. It also uses inflammatory rhetoric in some parts.
    • . Winning week so far The S&P 500 briefly passed the 5,500 level for the first time on Thursday before pulling back...
    • Anthropic also announced a tool called “Artifacts” that it said will be useful for code development, legal contract drafting and analysis, business report writing and more.
    • Shares of the company rose about 8.5% and notched their best day since 2022.
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

98%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Three times the fun (and volatility)

Morning Brew Thursday, 20 June 2024 19:45
  • Unique Points
    • Triple-witching day is when stock options, stock index futures, and stock index options contracts expire on the same trading day
    • Triple-witching occurs quarterly on the third Friday of March, June, September, and December
    • Nvidia (NVDA) has seen unprecedented options trading, particularly call options, with about one third of outstanding options tied to the company expiring tomorrow
    • Nvidia’s stock split and rebalancing into the $71 billion Technology Select Sector SPDR ETF (XLK) on Friday will result in more cash being thrown at the company’s stock than usual
  • Accuracy
    • Nvidia has seen unprecedented options trading, particularly call options, with about one third of outstanding options tied to the company expiring tomorrow
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (0%)
    None Found At Time Of Publication

100%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Wall Street’s $5.5 Trillion Triple-Witching to Test Market Calm

Yahoo Finance Carly Wanna Friday, 21 June 2024 18:47
  • Unique Points
    • The so-called ‘triple-witching’ will see some $5.5 trillion worth of options tied to indexes, stocks, and exchange-traded funds fall off the board.
    • Investors will adjust their positions after the contracts disappear, adding a burst of volume capable of swinging individual holdings.
    • After the positions roll off, taking with it an estimated $5 billion in ‘long gamma’, the market could be set for a touch of turbulence.
    • Friday’s and next Friday’s sessions will be explosive trading sessions as classic asset managers more actively take advantage of excess volumes and tactically trade positions around.
    • Dealers certainly will notice the events, for them large expiries mean tough choices: roll or offset positions, or close them out entirely. The twists and turns can spur added gyrations particularly in the final hour of trading.
    • Nvidia will play an added role this time around as the value of contracts tied to Nvidia set to expire is the second-largest of any underlying asset, lagging only the S&P 500.
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication