Investors making their trades at the whim of news reports will now have another option.
The Chicago Board Options exchange launched one-week options, called Weeklys options, on the Standard & Poor’s 100 Index and the S&P 500 index.
The first contracts will open on October 28 and expire the following Friday, November 4. Each new series on contracts will be listed on Friday, expiring the same day the next week.
No more than five strike prices will be listed per class, per expiration, initially, and no new series will be added between listing and expiration. Options on both indexes will be cash-settled contracts and will offer the same continuous, two-sided quotes as standard options.