Quadruple Witching Stirs Up the Volume as Fed Gives a Green Light
Stocks move higher as volume explodes on options expiration.
Quadruple witching is causing the New York Stock Exchange volume to jump over 240% as options expiration forces many traders hands. All indices were moving higher during them midday trading session. The market is also interpreting the latest comments from Federal Reserve Chair Janet Yellen as a green light to buy stocks. Yellen said the interest rates should remain low until at least 2016. As a result, if yields stay low, then the only place for performance will be in equities. AbbVie (formerly part of Abbott Laboratories) made a move for Shire Pharmaceuticals that was rejected.
