Post–Triple Witching: Less Index Gamma, More Event Vol

Post–triple witching weeks often feel fragile: a chunk of index options roll off, dealer hedging inventories reset, and the market leans more on fresh positioning. That is exactly when an earnings cluster — CCL/KMX Tuesday, MU Wednesday, ACN/NKE Thursday — can dominate the tape even if VIX stays calm.

For IV-crush traders

Less index gamma does not automatically mean richer earnings IV. It means realized paths can be choppier around prints because mechanical index hedges are thinner. Your job is still the same: map expected move, decide whether you are long or short the crush, and size for the gap.

If you want to rehearse the setup before you size it, paper-trade the scenario on Stock Picks.

Not financial advice. Verify claims independently.