Cboe evaluation to list new expiration

Discussion in 'Options' started by cttfs, Jan 23, 2018.

  1. cttfs


    Anyone know why there would NOT be a Jan 2020 expiration for VXX? That expiration is available for other volatility names with much less volume (i.e. SVXY, UVXY).

    I emailed Cboe and they responded that they will not be listing it at this time. What factors do they consider when making such listing decisions?
  2. Robert Morse

    Robert Morse Sponsor

    You should contact the OCC for these questions, not the CBOE. This might be why. Not sure. There are no options after 1/2019.


    On January 30, 2019, iPath S&P 500 VIX Short-Term Futures ETN (VXX) will mature. The last day of trading for VXX shares is unknown at this point in time. Once an ETN matures, investors are entitled to receive a maturity payment in cash, less fees, if any. The VXX maturity payment is expected to be distributed on or about January 30, 2019. Contract Adjustment The option symbol VXX will not change. DATE: Anticipated to occur on or around January 30, 2019 NEW DELIVERABLE PER CONTRACT: 100 x the per ETN maturity payment amount, less fees, if any Settlement in VXX options will take place through OCC’s cash settlement system. Settlement will be accomplished by payment of the difference between the extended strike amount and the cash deliverable. DISCLAIMER This Information Memo provides an unofficial summary of the terms of corporate events affecting listed options or futures prepared for the convenience of market participants. OCC accepts no responsibility for the accuracy or completeness of the summary, particularly for information which may be relevant to investment decisions. Option or futures investors should independently ascertain and evaluate all information concerning this corporate event(s). The determination to adjust options and the nature of any adjustment is made by a panel of The OCC Securities Committee pursuant to OCC By-Laws, Article VI, Sections 11 and 11A. The adjustment panel is comprised of representatives from OCC and each exchange which trades the affected option. The determination to adjust futures and the nature of any adjustment is made by OCC pursuant to OCC ByLaws, Article XII, Sections 3, 4, or 4A, as applicable. For both options and futures, each adjustment decision is made on a case by case basis. Adjustment decisions are based on information available at the time and are subject to change as additional information becomes available or if there are material changes to the terms of the corporate event(s) occasioning the adjustment. ALL CLEARING MEMBERS ARE REQUESTED TO IMMEDIATELY ADVISE ALL BRANCH OFFICES AND CORRESPONDENTS ON THE ABOVE. For questions regarding this memo, call Investor Services at 1-888-678-4667 or email investorservices@theocc.com. Clearing Members may contact Member Services at 1-800-544-6091 or, within Canada, at 1-800-424-7320, or email memberservices@theocc.com
    nbbo likes this.
  3. I’m wondering if this means Vxx will be no more after that date. What does it mean practically speaking when an ETP matures?
  4. Robert Morse

    Robert Morse Sponsor

    I have no idea. You should email iPath in the morning. etndesk@barclays.com
  5. cttfs


    Robert, Thank you for pointing that out. I see there's VXXB. Looks like it just started trading.