In modern times the term witching hour has become an colloquialism for other periods of unpredictable or troublesome activity. Parents may use it to describe the fussy period in infancy when a baby tends to cry continuously, usually during the same time each day and at night. In investing, the witching hour is the last hour of trading before stock options, futures, and indexes expire, which occurs on the third Friday of each month. When multiple types of derivatives contracts expire on the same day, it is called double or triple witching. Such periods are characterized by high levels of activity and volatility as traders rush to roll out and close expiring contracts to maximize their profits.
