The last time I saw news related to triple witching day, I was wondering whether it would really stir up a big wave. As it turned out, Citigroup’s analysts said it wasn’t as frightening as some people feared—open interest is actually below historical levels, and traders’ positions are relatively neutral, so the impact of this triple witching day may be overestimated.

That said, some people are still on alert. After all, contracts worth several trillions are set to expire; whether they’re rolled over or closed out, it could spark a surge in trading volume.

What’s even more concerning is the fundamental issue: under inflation and tariff pressures, can the Federal Reserve significantly cut interest rates? Market concerns about the U.S. economy have not gone away. Wall Street’s views on what’s next are also not consistent. In this kind of uncertainty, triple witching day becomes a window for observing market sentiment.

Triple witching day happens four times a year, and each one is worth keeping an eye on—even if it doesn’t necessarily lead to intense volatility.