Weeklys options, first introduced by CBOE in 2005, are options that expire at the end of a week, unless an options expiration already exists. For information about End-of-Month SPX Options, see www.cboe.com/eom
SPX Weeklys - Extended
In January 2014 CBOE issued Regulatory Circular RG14-010 re: "Expansion of Number of Expirations Listed in S&P 500 Index Weeklys Options (SPXW)." The circular provides that CBOE will list out and maintain six consecutive SPXW expirations at once, not counting the current expiration.
S&P 500 Weeklys options can provide opportunities for investors to implement more targeted buying, selling or spreading strategies. S&P 500 Weeklys options can help investors efficiently take advantage of market events, such as earnings, government reports and Fed announcements.
Current listing and expiration dates are noted on Available 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).