Hey, it’s Garrett. I wish I had something significant to tell you today. But I’m under the weather right now, and I’m 100% sure that I have the flu. You don’t want it. I’m scatter-brained. I’m all over the place. I thought that it was August for a moment. I have taken three COVID-19 tests, and all three have been negative. So – here’s the good news. I’m sitting on a lot of cash with momentum sideways today. Friday, September 17 is a very volatile day. And the reason is called Quadruple Witching.
Today, we see expiration from four different contracts. As a result, stocks are all over the place. The VIX is up 5.6%. Today, stock index futures, stock index options, stock options, and single stock futures all expire simultaneously. Yes. This is a big deal. In fact, only the third Friday in January – another expiration date – could be considered MORE volatile.
So – here’s what you need to do today. Be patient. Sit in cash. Let this crazy day expire. Go enjoy your weekend. Call someone you haven’t spoken to in a long time. Enjoy the passage of the next 72 hours.
Because come Monday after this Quadruple Witching, we’re going to be VERY active again. We’re going to see volatility calm down, we’re going to see cheap options potential, and we’re going to put our money to work. That’s it. Nothing more. So, just keep your powder dry and let’s get ready to attract the markets again starting Monday at 9:30 am. I’ll have a pick for you – a free one – on Monday.