"According to MarketWatch’s Tomi Kilgore, writing for The Wall Street Journal, the real action on quad witch is the volume in the final hour of trading, but volumes have been relatively mundane recently and Wall Street’s so-called fear gauge, the CBOE Volatility Index VIX, +2.11% has experienced an uncanny level of quiescence in recent months, trading well below its historic average of 20.
“What you’re going to have is less volume and then around 3:30 p.m. [Eastern Time] we’re likely to see volumes spike up dramatically,” said Joe Saluzzi, partner at Themis Trading, referring to Friday trading action."