21.06.2025 02:00

A record-breaking $6.8 trillion in options contracts are set to expire on June 20th, 2025, marking the largest "triple witching" event ever recorded. This unprecedented expiration encompasses stock indexes, ETFs, equity index futures, and individual stocks, promising significant market volatility. The sheer scale of this event, surpassing all previous records, is expected to generate substantial market movement.

This massive expiration, according to estimates from internet sources, represents a confluence of factors amplifying potential market fluctuations. The fact that this is the first post-holiday monthly expiration in at least a quarter-century adds another layer of uncertainty, increasing the likelihood of heightened trading activity. Market participants are bracing for a potentially turbulent session.

Dominating the landscape is the S&P 500 index, with approximately $4.54 trillion (or 66.8%) of the total open interest. Significantly, put options on the S&P 500 represent a considerable 58.2% of this figure, far exceeding call options at 41.8%. This disparity strongly suggests widespread hedging against potential market declines, indicating a prevailing sense of caution among investors.

A different picture emerges in the single-stock options market, accounting for $1.05 trillion (15.4% of the total). Here, the balance is more neutral, with calls slightly outweighing puts (53.1% versus 46.9%). This divergence highlights contrasting investor sentiment between individual equities and the broader market indices. ETFs contribute another substantial portion, with expiring options valued at $754.38 billion (11.1% of the total), further adding to the magnitude of this significant market event. Overall, the sheer volume of expiring contracts points towards a day of potentially significant price swings.