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Means the end of trading the actual futures on a instrument. Today 13h the December futures are running out. Instead the March, June and September 2020 futures are traded. In a certain quarter the main volume is in the actual quarter. If a open future is not bought/sold until the end of this future - it will be bought/sold by the broker automatically. Normally not a good idea to hold futures until the last day. My change to a new future is normally on Monday or Wednesday in the witch week. For the DAX future the triple witch is always on 3rd Friday of the months March, June, September and December at 13:00 h.
There are other futures that can be traded with monthly contracts. Those are not so influencing the pricing of the instrument. So I am only concentrated on the Dax future itself. In a triple witch week one can often seen quite strong volatility - not recommended days to trade for beginners.
Triple witching means, that stock index futures, stock options and stock index options expire (it happens four time a year, 3rd Friday of March, June, Sept and Dec
Quadruple witching (as it is today in USA) means: same as Triple Witching + single stock futures as well
A Walzer needs a hi/lo range of previous day of min. 150+ points.
This was not reached as we had been in a sideways movement.
In fact a day like new year or after some holidays a certain move in (any) direction is of high possibility.
Today the new money of this year went again INTO the markets (buying stocks and moving the price) here to the upside and that movement is often to see.
SO: Trade better on a new day after the sideways movement in low volume field.