Option beginer question

K

klin

when does an option expire? The begining or the end of the month? Can anyone point me to a good educational website for option trader?

Thanks
 
Technically, I think it's Saturday after the 3rd Friday (or at least it used to be). But for us common folk, that means we're done at the end of the day on the 3rd Friday.
 
klin,
correct, in the US stocks options expire on the closing price on 3rd friday of every month. Just beware that there are a few index products that expiry price is the AM price on the 3rd friday of the month (first tick of each component in the index).
(S&P european options that trade on the CBOE are one that come to mind). It's been so long since I've traded US options that I forget the full list.
 
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