She's a witch, burn her!

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Today is a four-per-year event--the elusive quadruple witching day. What is quad witch? Quad witching refers to the occurrence of four major financial derivatives contracts expiring on the same day. These contracts include stock index futures, stock index options, single-stock futures, and single-stock options. It happens quarterly, specifically on the third Friday of March, June, September, and December. Quad witching can lead to increased market volatility and trading volume as traders and investors adjust their positions before these contracts expire. It often results in complex trading strategies and can affect the prices of underlying stocks and indices, making it a significant event that traders closely monitor to navigate market movements effectively.

Now since the advent of every day 0DTE options, quad witch has been a little more muted than it used to be. Days tend to be a lot choppier and you don't tend to get the prolonged directional moves. Basically, trade ideas for today should be prepared for either outcome--copious chop or violent volatility. If you're not comfortable in either type of market, don't be afraid to sit out and protect your capital or just take small moves. No need to be a hero.

Here are my NQ levels for today:

Opening Price: 15610

Upside Targets: 15631, 15675, 15720, 15770

Downside Targets: 15582, 15540, 15511, 15457

Stretch Targets: 15784, 15457