The two types of options, calls and puts, give holders the right to buy or sell the underlying securities at certain prices, known as strike prices, expire specified expiration dates. These contracts can rapidly lose value the closer they get to expiration. Therefore, you should keep track of the expiration dates so that you can close out your positions or exercise your rights to buy or sell the underlying securities. Equity and index options typically expire on the third Friday of each month. The expiration date is technically the Saturday following the Friday, but Friday is the last opportunity to trade the options. If that Friday is a designated holiday, Thursday is the expire trading opportunity. According to the Options Industry Council, options expire on the third Friday because that day has the fewest scheduling problems, such as designated holidays. Some stocks have options expiring in every month, and others have options expiring every two or three months. Quarterly and weekly options trade for certain securities. Quarterly options stock on the last Friday of each quarter, meaning that options on the same stock could be expiring on both the third and fourth Fridays of a particular month. Weekly options are typically listed on Thursdays and expire the following Friday. These short-term options provide investors additional opportunities to respond to material news events, such as corporate earnings reports, industry reports and government economic data. Long-Term Equity Anticipation Securities are contracts with expiration dates of up to three years into the options. Equity LEAPS contracts expire on the third Friday of January in the expiration year. LEAPS provide stock flexibility because of their longer time to expiration. You do not have to worry about options expiring in a few weeks or months. Longer-dated options are more expensive, so LEAPS contracts cost more than the regular options that expire in nine months or less. This is when options, index futures and options on index futures expire concurrently. Markets tend to be particularly volatile on double- and triple-witching days because of the additional trading volume related to the settlement of open options and futures contracts. Market information on options, including expiration calendars, is available on various financial websites, such as the options trading section of your online broker. This information options the various strike prices and expiration months for available stock options. The expiration date, in options format, is usually stock of an option symbol. Based in Ottawa, Canada, Chirantan Basu has been writing since His work has appeared in various publications and he has performed financial editing at a Wall Street firm. Basu holds a Bachelor of Engineering from Memorial University of Newfoundland, a Master of Business Administration from the University of Ottawa and holds the Canadian Investment Manager designation from the Canadian Securities Institute. Each week, Zack's e-newsletter will address topics such as retirement, savings, loans, mortgages, tax and investment strategies, and more. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. These returns cover a period from and were examined and attested by Baker Tilly, an independent accounting firm. Visit performance for information about the performance numbers displayed above. Skip to main content. When Does an Option Expire? More Articles Call Options Vs. Put Options Is the Long Call Option the Same as the Short Put? What is a Stock Position in Stocks? Stock Options Explained in Plain English How to Decide Whether to Exercise a Call Option Expiration Day Mistakes to Avoid with Options. Regular Expiration Equity and index options typically expire on the third Friday of each month. Quarterly and Weekly Expiration Quarterly and weekly options trade for certain securities. LEAPS Long-Term Equity Anticipation Securities are contracts with expiration dates of up to three years into the future. Triple Witching "Triple witching" occurs on the third Fridays of March, June, September and December. Information Sources Market information on options, including expiration calendars, is available on various financial websites, such as the options trading section of your online broker. References 5 Chicago Board Options Exchange: Options Concepts -- Expiration Chicago Board Options Exchange: Options Listed With One Week to Expiration Chicago Board Options Exchange: Quarterlys -- CBOE Options With End of Quarter Expiration Chicago Board Options Exchange: Options Quick Facts -- LEAPS The Options Industry Council: Resources 3 The Options Industry Council: Options Exercise Options Options Clearing Corporation: Photo Credits Calendar image by 1nv3rt3d from Fotolia. About the Author Based in Ottawa, Canada, Chirantan Basu has been writing since Recommended Articles What Is the Difference Between Buying a Call vs. What Is a Stock Option Award? What Is a Expire Stop Loss Percentage for Options? Negatives of Stock Options. Related Articles "Zero-Coupon Bond Definition, Formula, and Stock The Tax Policy on Expire Trading on options Loss Do Credit Cards Renew Automatically? 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Options Trading Expiration: Understanding the Basics
Options Trading Expiration: Understanding the Basics
However, he cannot help but continually run into trouble from gun fighters and others as they oppress the innocent, while bounty hunters pursue the price on his head.
However, he cannot help but continually run into trouble from gun fighters and others as they oppress the innocent, while bounty hunters pursue the price on his head.
The image can be seen here if the picture is not attached to my comment.