Cboe to add Tuesday and Thursday expirations for SPX Weeklys Options
Cboe Global Markets, Inc today announced it will list S&P 500 Index (SPX) Weeklys options with Tuesday expirations beginning Monday, April 18, and Thursday expirations beginning Wednesday, May 11. These new listings build on the success of Cboe’s popular SPX Weeklys options, which currently include Monday, Wednesday and Friday-expiries, and will expand the product suite to provide expirations every trading day of the week.
The SPX options market is one of the most actively traded and liquid options markets across the globe. SPX Weeklys options are similar to standard monthly SPX options but shorter in term, with weekly expirations.
“When Cboe launched its first SPX Weeklys options contract in 2005, we introduced a completely new concept to the market that has since broadened the options landscape, and the way that options can be used to manage volatility risk,” said Arianne Adams, Senior Vice President and Head of Derivatives and Global Client Services.
“SPX Weeklys provide an efficient way for investors to execute targeted buying, selling or spreading strategies, and the growth we have seen in trading volumes is a testament to the tremendous utility of these products. With these new Tuesday and Thursday expiries, we are pleased to further expand our offerings as demand for short-dated options strategies has grown.”
Since launch, SPX Weeklys options have grown to become one of Cboe’s most-actively traded products. A total of 247 million SPX Weeklys options contracts were traded in 2021, with an ADV of more than 981,000 contracts, accounting for nearly 72 percent of total SPX options trading volume.
Cboe has received positive feedback from a broad range of market participants, including banks, broker-dealers, market makers and trading firms, that are existing users of SPX Weeklys options and expected to help contribute to the provision of liquidity in the new Tuesday- and Thursday-expiring SPXW options at launch.
Similar to SPX options, SPXW options are European-style options (no early exercise) and cash-settled (no delivery or assignment of shares) at expiration with P.M. settlement. The new Tuesday- and Thursday-expiring SPXW options will generally have the same characteristics as existing SPXW options, with the exception of their listing and expiration dates.
SPX Weeklys and standard SPX options trade during global and regular trading hours, allowing market participants globally to adjust their positions and manage risk around the clock, on every business day.