It's quadruple witching day and one trader dumped 9.24 million shares of Apple.
In the opening minute of Friday's session, one trader dumped 9.24 million shares of Apple stock in a single block trade. At $141 a share in a single block trade, that's worth about $1.3 billion. No one has claimed the trade as of yet.
On most days this would seem unusual, but not on quadruple witching day. On the third Friday of March, June, September, and December index future, stock index options, stock options, and single stock futures all expire.
On these days volume is unusually high as traders offset, close, and roll out of positions. Somewhat surprisingly, volatility is usually no different than any other Friday.
While a $1.3 billion is an unusually large trade even for quadruple witching day, it looks like it's nothing more. Equity traders tell Business Insider that they do not see this trade as a bearish or bullish move on the stock.
Shares of Apple are little changed on Friday, up 0.1% at $140.83 per share.
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