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Options Trader Alert #2021 - 23
Nasdaq PHLX Introduces Monday and Wednesday Weekly Expirations For QQQ Options
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Subject to regulatory approval, Nasdaq PHLX (Phlx) will expand the Short Term Option Series Program (STO) to list for trading options series on the Invesco QQQ TrustSM Series (QQQ) ETF Trust which expire on Mondays and Wednesdays. Listing of Monday QQQ ExpirationsOn April 23, 2021, Phlx anticipates listing weekly Monday QQQ Expirations pursuant to STO for trading with the following expiration dates:
The next listing date will be April 30, 2021, where Phlx will list Monday QQQ Expirations with an expiration date of Monday, June 7, 2021. Monday QQQ Expirations will be listed for trading on any Friday or Monday that is a business day provided that Monday QQQ Expirations that are listed on a Friday must be listed at least one business week and one business day prior to the expiration. If Monday is not a business day, the series shall expire on the first business day immediately following that Monday. Phlx may list up to five consecutive and no more than five total Monday QQQ Expirations at one time. Listing of Wednesday QQQ ExpirationsOn April 27, 2021, Phlx anticipates listing weekly Wednesday QQQ Expirations pursuant to STO for trading with the following expiration dates:
The next listing date will be May 4, 2021, where Phlx will list Wednesday QQQ Expirations with an expiration date of Wednesday, June 9, 2021. Wednesday QQQ Expirations will be listed for trading on any Tuesday or Wednesday that is a business day provided that Wednesday QQQ Expirations that are listed on a Tuesday must be listed at least one business week and one business day prior to the expiration. If Wednesday is not a business day, the series shall expire on the first business day immediately prior to that Wednesday. Phlx may list up to five consecutive and no more than five total Monday QQQ Expirations at one time. Trading HoursRegular trading hours will be 9:30 a.m. to 4:15 p.m. EST. ExpirationPhlx may list Monday and Wednesday QQQ Expirations in the same week in which monthly and Friday weekly option series in QQQ expire. Phlx will not list Monday or Wednesday QQQ Expirations on a Monday or Wednesday in which Quarterly Options Series already exist. If the Monday in which the series expires is not a business day, the series shall expire on the first business day immediately following that Monday. If the Wednesday in which the series expires is not a business day, the series shall expire on the first business day immediately prior to that Wednesday. Strike IntervalsThe minimum interval between strike prices for Monday and Wednesday QQQ Expirations will be $0.50, the same as for current options within the Short Term Options Series Program. For a complete description of Monday and Wednesday QQQ Expirations, please see the SEC Notice of Filing. Additional Exchange ListingsPending SEC action, the remaining Nasdaq options exchanges (The Nasdaq Options Market (NOM), Nasdaq BX Options, Nasdaq ISE, Nasdaq GEMX, and Nasdaq MRX) will also list QQQ Monday Expirations on April 23, 2021 and Wednesday Expirations on April 27, 2021. |
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Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.
