The expiry of stock options, index future's options and index futures. The markets see very high volumes on these dates and used to be on third Friday in the months of March, June, September, and December before 2001. After 2001, Triple Witching was replaced by Quadruple Witching because of introduction of individual stock futures, which started to expire on third Friday of every quarterly month as well.

The expiry of stock options, index future's options and index futures. The markets see very high volumes on these dates and used to be on third Friday in the months of March, June, September, and December before 2001. After 2001, Triple Witching was replaced by Quadruple Witching because of introduction of individual stock futures, which started to expire on third Friday of every quarterly month as well.