DATE: September 30, 2013 QUESTION: Is it true that a new timing on equities options expiration will go into effect in 2015?
ANSWER:It was recently announced that starting in February 2015, options will expire at midnight Friday instead of midnight Saturday. However, this will not affect how traders use options in any way. Prior to electronic trading, a Saturday morning trade-checking session was needed to correct trade errors made on Friday. Now, with the efficiency of electronic trading this Saturday morning trade-checking session is no longer needed. Therefore, the legal expiration day and time are being changed. To learn more about the new timing on equities options expiration, view this segment of "Ask the Institute."
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