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[Tuff-Stuff]

<>" Looking ahead, expiration week is imminent, with September equity options, single-stock futures, index futures, and index options set to expire at the end of the week. Moreover, the last day to trade September options on CBOE Volatility Index (VIX - 13.31) futures is on Tuesday, ahead of Wednesday morning's settlement.

As of Thursday's close, 42% of the outstanding VIX calls will expire ahead of Wednesday afternoon's Federal Open Market Committee (FOMC) policy statement, an event many investors are keying on before making their next move. It will be of interest to see if VIX call volume is active on Monday and Tuesday, following relatively high volume on Friday, as hedgers are possibly rolling out September calls into the October and November series to hedge against Fed risk."