Volatility and high volume could well spark wide swings today (Friday), as Wall Street goes through a "quadruple witching day”: the simultaneous expirations of various options and futures contracts. What should investors expect to see in the markets? Thomas Joyce, chairman and chief executive of Knight Capital Group, shared his insight.
“It’s not uncommon for a lot of activity in the opening,” Joyce told CNBC.
Volume and volatility have been on the lighter side in the last two months.
“People who got through 2008 were happy to have survived, then they went through three-quarters of this year and couldn't believe how fortunate they were that the markets rallied to the extent they did—so a lot of them put their head on their pillows in early November,” he said.
Joyce said he expects volatility and volume levels to pick up in early 2010.
“With all the issuance that has come out, I think you’ll even see a pick-up in M&A activity,” he said.
“So it will be a good start to 2010…I see moving up at least early in the year and I think there will be some retesting…It will be one of those years where it’s good early, weak in the middle and finishes well.”
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immediate information was available for Joyce or his firm.