March Triple Witching Starts, Investors Should Beware Market Fluctuations

The first Triple Witching of 2025 will occur on March 21. According to Citigroup data, the total value of stock options, index options, and index futures contracts expiring on this date reaches up to $4.5 trillion, enough to shake the market.

**How Significant Is the Actual Impact of Triple Witching?**

Every time Triple Witching occurs, the rollover and closing operations often lead to a noticeable surge in trading volume. However, Citigroup equity trading strategist Vishal Vivek points out that compared to previous years, this upcoming Triple Witching on Friday may not be as critical as expected—mainly because open interest is at a historical low, and traders' positions are relatively balanced and neutral.

**US Stocks Face a Double Test**

Although technical pressures may be less severe than anticipated, fundamental uncertainties remain worth noting. Market concerns about whether the Federal Reserve can implement strong rate cuts amid dual shocks from inflation and trade tariffs persist, and worries about the US economic outlook have not dissipated. Wall Street's outlook for US stocks is divided, with the US dollar index currently fluctuating in a range, and the Nasdaq 100 index showing a wait-and-see market trend.

**Early Awareness of the Year’s Three Triple Witching Dates**

In addition to the March 21 event, investors should also pay attention to the remaining three Triple Witching dates this year—June 20, September 19, and December 19. Whether it’s rollover or closing, these dates could trigger increased market volatility, so planning trading strategies in advance is advisable.