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Stock options and narrow-based index options stop trading at 4:00 ET, whereas broad-based indexes stop trading at 4:15 ET.
On their last trading day, trading in expiring SPEW Weeklies closes at 3:00 p.m. (Chicago time). All non-expiring SPEW Weeklies continue to trade until 3:15 p.m. (Chicago time). For standard PM-settled, S&P 500® Index options that expire on 3rd Fridays, see ticker SP XPM.
All SPEW Weeklies and standard (3rd Friday/AM-settled) SIX options trade during global and regular trading hours. Global trading hours are from 2:00 a.m. to 8:15 a.m. (Chicago time) on Monday through Friday and regular trading hours from 8:30 a.m. to 3:15 p.m. (Chicago time) on Monday through Friday.
SIX (S&P 500 Index) options expire and settle differently, but a lot of money can change hands because of these expirations too. ... That means the owner of the option can exercise at any time before the option expires. SIX options though can only be exercised on the day of expiration. This is known as “European Exercise.
The standard AM settled options that expire on the morning of the third Friday of the month (SIX). These are floor traded and tend to have relatively wide bid/ask spreads. Their expiration value is published under the ticker SET (SET for Yahoo Finance).
When do options expire? Expiration day for equity and index options is the third Friday of the expiration month. If the third Friday falls on an exchange holiday, the expiration date will move to the Thursday preceding the third Friday.
On their last trading day, trading in expiring SPEW Weeklies closes at 3:00 p.m. (Chicago time). All non-expiring SPEW Weeklies continue to trade until 3:15 p.m. (Chicago time). For standard PM-settled, S&P 500® Index options that expire on 3rd Fridays, see ticker SP XPM.
The expiration date for listed stock options in the United States is usually the third Friday of the contract month, which is the month when the contract expires. However, when that Friday falls on a holiday, the expiration date is on the Thursday immediately before the third Friday.
Approaching the Expiration Date An option will have no value if the underlying security is below the strike price (in the case of a call option) at expiration. In this case, the option expires worthless and ceases to exist. ... You can either sell the option to lock in the value or exercise the option to buy the shares.
A vast majority of the options on U.S. stocks trade between 9:30 a.m. ET and 4 p.m ET. Most stocks, though, can be traded before or after those hours. It's puzzling for some investors that there's no similar premarket and after-hours trading available for many stock options.
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