How are these things working? I notice them in a few names like SPY and BP. When are they creating the new contract.
Are you sure about BP? I thought it was only for QQQQ, DIA, SPY and maybe a couple of other ETF's. I think it's great for buyers who like cheap option's for a 1 or 2 day trade just before expiration. The QQQQ options should be a hot seller.
somebody posted this before: http://www.cboe.com/micro/weeklys/introduction.aspx CBOE offers the following Weeklys options (as of July 16, 2010): * SPX : S&P 500 Index Weeklys with European-style options on the S&P 500 Index with Friday A.M. settlement. Last day of trading is a Thursday. * NEW! DJX : Dow Jones Industrial Average Weeklys with Friday A.M. settlement. Last day of trading is a Thursday. * OEX Weeklys : One-week, American-style options on the S&P 100 Index with Friday P.M. settlement (last day of trading is a Friday). * XEO Weeklys : A European-style version of OEX Weeklys. And Weeklys on Exchange Traded Funds and equities. As of July 5, 2010, these included the following:: * SPY - Standard & Poor's Depositary Receipts * QQQQ - Nasdaq-100 Index Tracking Stock * IWM - iShares Russell 2000 Index Fund * GLD - Options on SPDR® Gold Shares * XLF - Financial Select Sector SPDR * EEM - iShares MSCI Emerging Markets Index * C - Citigroup Inc * BAC - Bank of America Corp * AAPL - Apple Inc * BP - BP PLC * F - Ford * GOOG - Google Inc. * AMZN - AMAZON.COM Inc. * FAS - Direxionshares Daily Financial Bull 3X Shares * FAZ - Direxionshares Daily Financial Bear 3X Shares * MSFT - Microsoft Corporation Weekly options on ETFs and equities are physically settled, American-style exercise with "P.M." settlement and the last day of trading generally is a Friday.
And to add to the confusion they still trade on Friday, so do they "expire" on Saturdays like the regular options? I think so.
SPX stops trading at the end of the day Thursday with the SET price determined using the component prices of the S&P 500 Friday morning. This usually posts around noon on Friday.
Video http://optionsrocket.blogspot.com/2010/07/how-to-profit-from-credit-spreads.html I haven't traded this, even on paper. Carl __________________ Enjoy life, it's limited. You only get as much as you take.
i apologize in advance if this is a stupid question. MSFT reports on Thur AH. I would like to sell some strangles on it using the July 23 weeklies. Generally speaking, when is the best time to establish such a position to take advantage of the greatest implied volatility: 1) Thur morning 2) Thur EOD 3) should not make any difference when as long as it on Thur