Goldman Sachs(US:GS) 华尔街见闻·2025-09-19 11:51Core Insights - The upcoming "Triple Witching Day" on Friday is set to be the largest in history, with over $5 trillion in U.S. stock options and futures contracts expiring, which is expected to inject more uncertainty into market trends [1] - "Triple Witching Day" occurs on the third Friday of each quarter, when stock index futures, stock index options, and individual stock options all expire simultaneously [1] - Goldman Sachs options expert John Marshall estimates that over $5.3 trillion in nominal value of options will expire this Friday, including $3 trillion in S&P 500 index options and $935 billion in individual stock options [1] - The total nominal value of expiring options is equivalent to 8% of the total market capitalization of the Russell 3000 index, marking the highest scale for September's "Triple Witching Day" in history [1] - According to options analysis firm SpotGamma, nearly 90% of the expiring positions are call options, and as these positions are closed, the long stock positions held by traders for hedging will be unwound, indicating a significant loss of market buying support [1] - For short-term market trends, Goldman Sachs predicts that the market's rebound momentum is likely to continue until the options expiration event is completed, which is typically associated with a "gamma squeeze" effect before expiration, followed by a pullback in the following week [1]