On Monday’s PreMarket Prep, host Dennis Dick talked about a handful of stocks that registered large run-ups in share price on Friday’s quadruple-witching expiration day. Quadruple witching expiration days are days on which stock index futures, stock index options, stock options and single stock futures all expire on the same day.
“There were some fireworks in some individual stocks,” Dennis said. Medgenics Inc GNMX 2.14% was one of the biggest movers.
“GNMX gapped up from $6 to $17.75 on the closing print.” Dennis explained that the reason why the trade doesn’t show up in the charts is because it was cancelled after it went through.
“NASDAQ is an automated close, which pools in the buyers and sellers. There [weren’t] enough sellers, so it went all the way up to $17.75 to find the sellers!”
Medgenics wasn’t the only stock on the move into the close. NVIDIA Corporation NVDA 2.49% ran up from $98 to $100.40, Ross Stores, Inc. ROST jumped from $67.5 to $69.50 and Marriott International Inc MAR 0.43% climbed from $84.50 to above $86.
Dick explained the big moves in these stocks.
“Quad witch is…
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