For investors actively trading U.S. stocks, Quadruple Witching Day is an unavoidable keyword. Every year, there are four specific dates when market trading volume surges and price fluctuations become exceptionally volatile. Many people ask: what exactly happens on these four days? Why should we pay special attention?
The Truth About Quadruple Witching Day: Simultaneous Settlement of Four Major Derivatives
The term "Quadruple Witching Day" refers to the dates when four major derivative financial products in the U.S. stock market settle simultaneously—single stock futures, single stock options, stock index futures, and stock index options. These four instruments expire and settle at the same time, as if an invisible force pulls futures prices and spot prices together.
Because this settlement mechanism has nothing to do with a company's fundamentals and is purely driven by market structural factors, it can cause dramatic price swings that diverge from the underlying fundamentals. The word "Witch" in the name originates from this—appearing magical and unpredictable price movements.
Quadruple Witching Day occurs four times a year, divided into

In the foreign exchange market, the British Pound (GBP) was once one of the strongest currencies globally. However, since the Brexit referendum in 2016, this former financial powerhouse has been under a spell, dropping from a high of 2.00 USD to as low as 1.03 USD in 2022—almost halving. Nevertheless, as the global de-dollarization trend accelerates in 2025 and the Federal Reserve is about to cut interest rates, the GBP exchange rate is experiencing an unexpected rebound opportunity.
Why should you pay attention to the British Pound? How important is its position in the foreign exchange market?
As the fourth-largest trading currency in the world, the GBP accounts for about 13% of the daily trading volume in the forex market, second only to the US dollar, euro, and Japanese yen. Among them, the GBP/USD currency pair is especially popular among forex investors, consistently ranking in the top five globally in trading volume.
The GBP/USD has a unique charm: compared to the relative stability of the US dollar and euro, the British Pound's volatility is significantly higher. This is particularly attractive for short-term traders.

Want to master technical analysis like a professional trader? The candlestick chart is an essential skill you must learn. Many people feel dizzy when they see candlestick charts, but there's no need to memorize candlestick patterns by heart. Just understand the underlying logic, and you'll naturally be able to interpret what the market is saying.
What is a candlestick? Don't be intimidated by the complex name.
A candlestick (also called a K-line or candle chart) visually represents four key data points within a specific period: opening price, closing price, highest price, and lowest price. In simple terms, it uses colors and shapes to tell you the market's bullish and bearish forces during that time.
The rectangular part of the candlestick is called the body. If the closing price is higher than the opening price, the body is usually shown in red (bullish candle), indicating buyers are in control; conversely, if the closing price is lower than the opening price, the body is green (bearish candle), indicating sellers are stronger.
The thin lines above and below the body are called shadows. The line above is the upper shadow, representing the highest price during that period; the line below is the lower shadow, representing the lowest price during that period.

The British Pound has experienced significant volatility over the past decade, heavily impacted by events such as Brexit referendum, the pandemic, and mini-budget plans, but it has gradually stabilized in 2023. Facing the possibility of Fed rate cuts, the UK maintains high interest rates, and the market is optimistic about the Pound's outlook, with exchange rate forecasts between 1.26-1.30. Investors should pay attention to political stability, interest rates, and economic data to respond to market fluctuations.

Morgan Stanley predicts significant volatility for the U.S. Dollar in 2026, characterized by initial weakness due to Federal Reserve rate cuts and a cooling labor market, followed by recovery as real rates rebound and currency dynamics shift. Traders must adapt to this changing landscape.

As of December 10, 2025, the NT dollar to Japanese yen exchange rate has risen to 4.85, an increase of over 8.7% from 4.46 at the beginning of the year. The surge in Japanese tourism and risk aversion demand have made the yen once again the most关注的 foreign currency among Taiwanese people. But do you know? Choosing the wrong currency exchange channel can result in differences of thousands of yuan just in spread and fees.
Why is it worth exchanging for yen? Not just for travel, but also as an investment tool
Many people think exchanging for yen is just for traveling abroad, but from a financial perspective, the value of the yen goes far beyond imagination.
The most直觀需求 for travel and daily生活：Shopping in Tokyo, skiing in Hokkaido, and vacations in Okinawa are mostly still cash-based (credit card penetration is only 60%); purchasing Japanese cosmetics and anime merchandise also requires yen payments; those studying or working part-time in Japan need to plan their exchange rates in advance.
From a financial market perspective, it is even more attractive. The yen is one of the world's three major避險貨幣 (safe-haven currencies) (along with the US dollar and Swiss franc), and has long been追捧 due to Japan's stable economy and low debt.

Want to invest in US stocks through domestic brokers but don't know where to start? Is the sub-brokerage route really worth it? This article summarizes the core knowledge that investment beginners must understand about sub-brokerage, covering account opening, fee structures, trading rules, and the latest broker recommendations to help you get started quickly.
Before choosing a sub-brokerage, understand: What is sub-brokerage?
Sub-brokerage, officially known as "Agency Trading of Foreign Securities," essentially means that domestic brokers act as agents for you to place orders in overseas markets. You open an account with a local broker qualified for foreign securities sub-brokerage, and the broker then forwards your orders to overseas partner brokers, who execute trades in markets like the US, Hong Kong, Japan, and others.
Because the order passes through "one layer of forwarding" before reaching the foreign broker, it is called "sub-brokerage." This mechanism allows Taiwanese investors to buy US stocks, ETFs, and foreign bonds directly with TWD without needing to open overseas accounts or handle currency exchanges.
The biggest advantage of sub-brokerage

What are U.S. Treasury Bonds? Why are they worth paying attention to?
U.S. Treasury Bonds (U.S. Government Bonds) are essentially debt certificates issued by the U.S. government to raise funds from investors, with a promise to repay the principal and interest within a specified period. Due to the highest credit rating of the U.S. government, Treasury Bonds are regarded by global investors as one of the lowest-risk investment options. Both institutional and individual investors generally include U.S. Bonds in their portfolios as an important part of asset allocation.
The reason U.S. Bonds are attractive lies in their stable cash flow, excellent liquidity, and relatively transparent risk profile. Especially during periods of market volatility, U.S. Bonds are often seen as a "safe haven" asset.
What types of U.S. Treasury Bonds are there? The selection guide is here.
Based on the maturity period, U.S. Bonds can be divided into four main categories:
Short-term Treasury Bonds (Treasury Bills)
Term characteristics: within 1 year, usually issued with a maturity of 4

What exactly are commodities?
In the capital markets, commodities, along with stocks, bonds, and foreign exchange, constitute core asset classes. Their popularity stems from their high liquidity and strong correlation with macroeconomic trends, allowing their price fluctuations to accurately reflect economic cycle changes.
Commodities are essentially large-volume, non-retail, industrially characterized physical goods. Compared to ordinary goods, their key feature is "large"—massive supply, high circulation, and ample inventories, which typically place them upstream in the industrial chain.
Based on their nature, commodities are mainly divided into six categories: energy, industrial metals, precious metals, agricultural products, soft commodities, and livestock. Additionally, due to the pivotal role of shipping in global trade, shipping indices are also considered special types of commodity investments.
Specific categories include:
Energy includes crude oil, gasoline, and fuel oil.

Precious Metals and Crypto Markets' Subtle Divergence
Friday's market painted an intriguing picture: Gold and silver quickly broke through after the Federal Reserve's rate cut, with silver rising 5% to hit a historic high of $64; gold approached $4,300, up over 1%. Meanwhile, Bitcoin hovered around $87,650, with a 24-hour decline of -0.18%, clearly not benefiting from this wave of "de-dollarization."
Behind this contrast lies the deeper logic of the gradual "divergence" between crypto assets and traditional financial markets. Wintermute trading firm strategist De Maere pointed out that over the past year, only 18% of macro event trading days saw Bitcoin outperform the Nasdaq. The pattern of "stock rebound, crypto decline" has become the norm, indicating that the market's expectations of rate cuts have been fully digested, and the marginal easing policy's support for digital assets has significantly weakened. Investors

Secondary offerings (cash capital increases) are a common way for listed companies to raise funds, but the question investors care most about is often: How will this affect the stock price? Will it go up or down? The answer is more complicated than you might think.
Two classic cases reveal the truth
Tesla's secret of issuing new shares
In 2020, Tesla announced a cash capital increase, planning to issue new shares worth approximately $2.75 billion, with a price of $767 per share. The market reaction at the time was surprising to many—rather than falling, the stock price actually rose.
Why is that? The key lies in market confidence in the company. Tesla was very hot at the time, and investors were full of expectations for its global expansion plans and technological innovations. The funds from this capital increase were used to build new factories and meet global market demand, which was believed to boost the company's future market share and overall value. As a result, the announcement of the capital increase actually triggered a rally.
TSMC's steady issuance of new shares
2

The US stock market fluctuates due to economic data, Federal Reserve policies, and geopolitical risks. Investors face the choice of selling off or accumulating at low levels, and should make rational decisions, use hedging tools to manage risks, and establish an information tracking system. Successful investors need to have long-term goals, a rational mindset, and flexible strategies.

Forced liquidation is a risk management mechanism where the trading platform automatically closes positions to protect itself from losses, triggered when the margin level falls below a certain threshold. The main reasons include insufficient funds and market volatility, which can cause direct losses and disrupt trading strategies. Effective prevention methods include proper fund management, cautious use of leverage, setting stop-loss orders, and closely monitoring market changes.

Why is exchanging to Japanese Yen now becoming a popular choice?
In early December 2025, the TWD to JPY exchange rate rose above 4.85, with an appreciation of about 8.7% since the beginning of the year. This market trend has not only attracted tourists but also investors. The reason is simple— the Japanese Yen is one of the world's three major safe-haven currencies. Under the pressure of TWD depreciation, holding Yen can meet both the needs of international travel and asset protection.
However, currency exchange may seem simple, but the costs of different methods can vary by as much as 1,000-2,000 NT dollars. For example, exchanging 50,000 NT dollars through the wrong channel is like paying for two extra cups of bubble tea.
Taiwan's 4 Ways to Exchange Japanese Yen - Full Overview
Method 1: Traditional Counter Exchange — Convenient but the Most Expensive
Carrying NT cash directly to a bank or airport counter to exchange for Japanese Yen cash is the most traditional approach. Banks use the "cash selling rate" (about 1-2% higher than the spot rate), and some banks may also charge additional fees.

Many people still use the "shadow of gold" to understand silver, but the 2025 trend chart has already shattered this outdated perception. From the beginning to the end of 2025, silver's price increased by over 140%, far surpassing gold's performance during the same period. This is not a coincidence but a signal that market structures are undergoing profound changes.
The real question is not whether silver will rise or fall, but: what is the market's current positioning of silver?
Why past silver analyses have appeared powerless
Many online analyses fall into two dead ends.
One type mechanically says "Interest rate cuts are coming, so silver will also rise," but cannot explain why silver sometimes lags seriously behind gold, or even remains indifferent when gold hits new highs. The other overemphasizes the importance of industrial demand, stacking together new energy, solar power, electric vehicles, semiconductors, and producing a seemingly perfect demand gap forecast, but the timeline is completely distorted.
Both camps overlook the fact that silver's most

Why has gold continued to rise over the past 50 years?
Since U.S. President Nixon announced the decoupling of the dollar from gold in 1971, the international financial system has undergone revolutionary changes. The collapse of the Bretton Woods system marked the end of an era and opened a new chapter in the modern gold market.
Over the past 50 years, gold has climbed from $35 per ounce to reach $3,700 by mid-2025, and in October, it even broke through the $4,300 per ounce mark. This means that gold prices have increased by over 120 times in half a century, far exceeding many people's expectations.
Why has gold become one of the most stable stores of value? Because gold possesses natural scarcity, high density, excellent ductility, and strong preservation characteristics. In addition to its monetary properties, it is widely used in jewelry, industrial manufacturing, and other fields, making gold a dual-purpose asset as both a trading currency and a practical commodity.
Gold price

More and more people are turning to cold wallets to store crypto assets because they offer higher security than hot wallets and can prevent the risk of private key and seed phrase theft. Cold wallet products on the market, such as imKey, Ledger Nano, and Trezor, have different security levels and features for users to choose from. When using them, it is important to properly store the device and establish a backup mechanism to ensure asset security.

Understanding the Liquidity Factor Behind Bitcoin's Weakness
Bitcoin's inability to sustain levels above $126,000 earlier this year has puzzled many market participants. While conventional wisdom points to Federal Reserve policy expectations, strategists at Citigroup, led by Dirk Willer, argue the