Triple Witching Friday: Week in Review

Triple witching Friday.

WEEK IN REVIEW

The Fed hiked 25bp Wednesday – unanimous 12-0, the first hike since July 2023, taking the funds rate to 3.754% with the door open to more. The BOJ followed overnight. $TNX, which touched its highest since 2007, pulled back under 5%. On the regulatory front, the CLARITY Act died in the Senate and the SEC answered with a 5-year “Innovation Exemption” for tokenized stock trading on public blockchains.

INDICES

Thursday was a relief rally:

$QQQ +1.4%, $SPX +0.9%, $DIA +0.4%.

$XLK led at +2%, powered by semis – $SOX rose ~3%, its third straight gain, though it remains below its 50-day moving average.

CHIPS RIPPED

$INTC +7.7%, $MU +5.5%, $SNDK +6.2%, $MRVL +4.8%, $AMD +6.5%, $ARM +8.6%. Context: this is a rebound off Monday’s AI-safety selloff (Amodei/Altman slowdown calls), not new highs. Falling yields and oil did the heavy lifting, plus bullish Intel capacity comments. $MU and $SNDK are green again this morning.

NAMES ON MY RADAR

$BE joins the S&P 500 Monday – passive index flows land at today’s closing auction.

$HOOD +2.9% on a Cantor $212 price target.

$NBIS bid into October 1 GPU price hikes.

$CLS holding firm.

CRYPTO BID

$BTC ~$78k (+1.9% on the week). Strive crossed 25,000 BTC in treasury; its SATA preferred is past $1B notional.

$ETH $2,564 (+4.4% today) – held $2,400 straight through the Fed hike and the CLARITY failure, with BitMine now holding 5.95M ETH (~4.9% of supply).

$COIN, $CRCL, $HOOD all green, and the SEC’s tokenization exemption is a structural tailwind for the group.

BTCTC: $ASST

TODAY

Quarterly OPEX. Expect pinning around big strikes, volume surging into the close, and the usual triple-witching chop with $BE rebalance flows layered into the closing auction.

Happy Friday!