Cycles & Month Codes

Monthly Expiration Cycles

January Sequential Cycle (Symbol Guide Cycle #1)
Front Month	Available Expiration Months*
January	Jan	FEB	Apr	Jul
February	Feb	MAR	Apr	Jul
March	Mar	Apr	Jul	OCT
April	Apr	MAY	Jul	Oct
May*	May	JUN	Jul	Oct
June	Jun	Jul	Oct	JAN
July	Jul	AUG	Oct	Jan
August	Aug	SEP	Oct	Jan
September	Sep	Oct	Jan	APR
October	Oct	NOV	Jan	Apr
November	Nov	DEC	Jan	Apr
December	Dec	Jan	Apr	JUL
*The most recently added expiration month is listed in all CAPS. For example, at April expiration, the May options will become the new "Front Month" options while the expiration month "JUNE" is added to replace the expired April options. Notice how the most recently added expiration month will have either two months or eight months until its expiration.

February Sequential Cycle (Symbol Guide Cycle #2)
Front Month	Available Expiration Months*
January	Jan	Feb	May	AUG
February	Feb	MAR	May	Aug
March	Mar	APR	May	Aug
April	Apr	May	Aug	NOV
May	May	JUN	Aug	Nov
June*	Jun	JUL	Aug	Nov
July	Jul	Aug	Nov	FEB
August	Aug	SEP	Nov	Feb
September	Sep	OCT	Nov	Feb
October	Oct	Nov	Feb	MAY
November	Nov	DEC	Feb	May
December	Dec	JAN	Feb	May
*The most recently added expiration month is listed in all CAPS. For example, at May expiration, the June options will become the new "Front Month" options while the expiration month "JULY" is added to replace the expired May options. Notice how the most recently added expiration month will have either two months or eight months until its expiration.

March Sequential Cycle (Symbol Guide Cycle #3)
Front Month	Available Expiration Months*
January	Jan	FEB	Mar	Jun
February	Feb	Mar	Jun	SEP
March	Mar	APR	Jun	Sep
April	Apr	MAY	Jun	Sep
May	May	Jun	Sep	DEC
June	Jun	JUL	Sep	Dec
July*	Jul	AUG	Sep	Dec
August	Aug	Sep	Dec	MAR
September	Sep	OCT	Dec	Mar
October	Oct	NOV	Dec	Mar
November	Nov	Dec	Mar	JUN
December	Dec	JAN	Mar	Jun
*The most recently added expiration month is listed in all CAPS. For example, at June expiration, the July options will become the new "Front Month" options while the expiration month "AUGUST" is added to replace the expired June options. Notice how the most recently added expiration month will have either two months or eight months until its expiration.

Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker, by calling 1-888-OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, Illinois 60606. The information on this website is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions which should be referred to for additional detail and are subject to changes that may not be reflected in the website information. No statement within the website should be construed as a recommendation to buy or sell a security or to provide investment advice. The inclusion of non-CBOE advertisements on the website should not be construed as an endorsement or an indication of the value of any product, service, or website. The Terms and Conditions govern use of this website and use of this website will be deemed acceptance of those Terms and Conditions.