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Quadruple Witching Hits Stock Market, Sparking Bursts of Trading

(Bloomberg) -- Traders struggling to keep up with gyrations in U.S. stocks just got jolted by a surge of trading volume and wild price swings.Transactions in stocks spiked amid a quarterly event known as quadruple witching, when options and futures on indexes and equities expire. More than 16 billion shares changed hands, 30% above the average in the past three months, while the S&P 500 reversed earlier gains to close the session lower amid renewed concern over coronavirus reinfections.Quadruple witching usually coincides with a rebalancing of major indexes such as the S&P 500 and can spark some of the busiest trading days of the year. While the global market turmoil in March prompted S&P Dow Jones Indices to postpone the last rebalancing, the quadruple witching alone was enough to trigger a volume surge.This time, the need to adjust stock positions appeared to be higher than usual. About $1.8 trillion of S&P...