The S&P 500 has risen or fallen at least 4% in eight straight sessions, the longest streak in history, according to Dow Jones Market Data. The Cboe Volatility Index, the Wall Street fear gauge known as the VIX, hit its highest level in history this week. Traders are bracing in part because of so-called quadruple witching, the Friday near the end of each calendar quarter on which options and futures on both indexes and stocks expire simultaneously. Options contracts outstanding tied to the S&P 500 Index hit a record this week. More than $1.5 trillion worth of S&P 500 options were slated to expire Friday, about a third of the contracts outstanding, according to Trade Alert data. “Right now I would say buckle in,” said Steve Sosnick, chief strategist at Interactive Brokers, on the next few trading sessions. “Those moves in both directions can really be exacerbated.” Trading volumes, […]