WEEKLYSSM OPTIONS FROM CBOE:
Expiration Opportunities Every Week!
Weeklys options are options that are listed to provide expiration opportunities every week. Weeklys are typically listed on Thursdays and expire on Fridays, provided that such expirations were not previously listed (i.e, Weeklys are not listed if they would expire on a 3rd Friday or if a Quarterly option would expire on the same day). Weeklys options can provide opportunities for investors to implement more targeted buying, selling or spreading strategies. Weeklys options can help investors efficiently take advantage of market events, such as earnings, government reports and Fed announcements.
EXTENDED LISTINGS FOR EQUITY, ETF, ETN AND INDEX WEEKLY OPTIONS
CBOE and C2 Options Exchange recently amended their rules to allow trading in up to five consecutive Weekly Option expirations for equities, ETFs, ETNs, and indexes. Previously, CBOE was only approved to offer five consecutive expiration weeks for the S&P 500 index (SPX Weekly Options). For details on the rule changes, see CBOE Information Circular IC12-093 and C2 Information Circular IC12-015. See Regulatory Circular RG12-066 for related information on SPX Weeklys.
SPX Weeklys are PM-settled on the last trading day, typically a Friday. As with other PM-settled index options, the exercise-settlement value is calculated using the last (closing) reported sales price in the primary market of each component stock. On the last trading day, trading in expiring SPX Weeklys closes at 3:00 p.m. (Chicago time). All non-expiring SPX Weeklys continue to trade until 3:15 p.m. (Chicago time). For standard PM-settled, S&P 500 options that expire on 3rd Fridays, see ticker SPXPM.
Weeklys are listed each week except that no new Weeklys are listed that would expire during the expiration week for regular options (the third Friday of each month), nor would they be listed if they would expire on the same date as a Quarterly option on the same underlying. Other than SPX Weeklys, closing times for Weeklys options match the closing times for regular, non-weeklys on the same underlying.
For a list of closing times for options on ETFs, see http://www.cboe.com/publish/OETFClose/ETFCloseTimes.xls.
For a list of closing times for options on ETNs, see http://www.cboe.com/publish/OETNClose/ETNCloseTimes.xls.
Current listing and expiration dates are noted on AVAILABLE WEEKLYS.
WEEKLYS AVAILABLE FOR TRADING
For an updated list of available CBOE Weeklys go to: AVAILABLE WEEKLYS.
CBOE offers the opportunity for you to receive a weekly email alert to help keep you up-to-date on the Weeklys available for trading and other Weeklys options news announcements. As the list of new Weeklys becomes available (usually on Wednesdays) we'll email it right to your inbox.
To receive these alerts, those with existing myCBOE accounts should visit: https://www.cboe.com/alerts and select "New Weeklys Available For Trading" (near the bottom of the list). Those who do not yet have a myCBOE account should visit: https://www.cboe.com/UserAdmin/PersonalProfile.aspx and select "New Weeklys Available For Trading" on the myEmail Alerts subscription page (myCBOE registration page 2).
WEEKLYS TICKER SYMBOLS
Weeklys options can be found in regular options chains. For example, SPX Weeklys (SPXW options) can be found under the SPX options chain and OEX Weeklys can be found under the OEX options chain. On CBOE's delayed quotes page, Delayed Quotes Table, just enter the underlying symbol and Weeklys will be part of the options chain. For a specific example, OEX Weeklys calls that expired on August 6, 2010 were listed as "OEX1006H500-E" where "10" represents the year 2010; "06" indicates the expiration day; "H" represents August calls, "500" represents the strike and "E" represents CBOE. OEX Weeklys puts that expired on August 6 were listed as "OEX1006T500-E", where "T" is the symbol for August puts (see table below).
For Delayed Quotes, go to: http://www.cboe.com/DelayedQuote/QuoteTable.aspx