How do quarterly options work?
Here are some important mechanics of quarterly options:
They're currently only available for indexes and ETFs (no quarterly options exist for stocks at this time) and only on a limited number of names.
Quarterly options expire on the last business day of each calendar quarter (March, June, September and December). This means that the expiration date (and subsequently the last trading day) for these options could land anywhere from Monday to Friday.
They can be cash-settled (indexes) or physically settled (ETFs).
They're all P.M.-settled. For quarterly index options this means their exercise settlement value will be based on the closing level of that index on the day the options expire.
Underlying ETFs or indexes with quarterly options that expire on a Friday will not have a weekly option that expires that same week.
Up to eight quarterly option contracts may be listed at the same time.
All Congressmen and Senators will put a bill before the House to stop oil futures trading Monday. Only a business that uses oil in their business can buy oil, no futures trading will be allowed.