Calm before another tornado…? Quad witching is coming. Tomorrow is shaping up to be one of the most volatile trading days in years during one of the most volatile months in market history. The S&P has risen or fallen at least 4% in eight straight sessions, which is actually the longest streak in history. Today is quite a bit less dramatic (S&P o +1.16% thus far, but the day is still young). Traders are bracing for this particular quad witching, especially as options contracts outstanding tied to the S&P hit a record this week. More than $1.5 trillion worth will expire – the largest motional ever-- thus extending the voracious stress levels of investors globe-wide.
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