Products

SPX Weeklys Options

Weeklys options, first introduced by CBOE in 2005, are one-week options that expire at the end of a week, unless an options expiration already exists.

SPX Weeklys and SPX Quarterly Options - 2-page PDF Quick Reference Guide

Key Features Of SPXSM WeeklysSM Options Include:

  1. HYBRID TRADING SYSTEM FOR TRADING FLEXIBILITY
    • SPX Weeklys are available on CBOE's Hybrid® Trading System , which incorporates electronic and open-outcry trading in order to enable investors to choose their trading method.
  2. PM-SETTLEMENT
    • Aligns with single-stock options and ETF options and with S&P 500 options traded OTC.
    • Preferred by many investors including those with end-of-day reporting needs.
    • The ability to trade in and out of positions on settlement day.
  3. LARGE CONTRACT SIZE WITH A $100 MULTIPLIER
    • If the S&P 500 Index is at 1300, SPX Weeklys options have a notIonal size of about $130,000 (ten times larger than SPY options).
  4. CASH-SETTLEMENT, EUROPEAN-STYLE EXERCISE
    • Like SPX and most other index options, and unlike SPY and other ETF options.
    • No risk of early assignment and loss of dividends, no portfolio disruption on assignment.
    • CBOE Circulars (RG99-09 and RG00-171) allow SPX options to be written on a "covered" basis against SPY or IVV ETF shares in a margin account, provided the investor's brokerage firm has such policies in place
  5. TAX TREATMENT
    • Under section 1256 of the Tax Code, profit and loss on transactions in certain exchange-traded options, including SPX and SPXpm, are entitled to be taxed at a rate equal to 60% long-term and 40% short-term capital gain or loss, provided that the investor involved and the strategy employed satisfy the criteria of the Tax Code*
  6. SEVEN TRADING DAYS
    • Trading in SPX Weeklys options begins on Thursdays and generally ends on the Friday of the following week.
  7. GROWTH IN SPX WEEKLYS VOLUME
    • SPX Weeklys options approximate average daily volume grew from 18,200 in 2010 to 65,700 in 2011 (through September), a rise of 260%.
SPX Weeklys Chart

* Investors should consult with their tax advisors to determine how the profit and loss on any particular option strategy will be taxed. Tax laws and regulations change from time to time and may be subject to varying interpretations.



Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker, by calling 1-888-OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, Illinois 60606. The information on this website is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions which should be referred to for additional detail and are subject to changes that may not be reflected in the website information. No statement within the website should be construed as a recommendation to buy or sell a security or to provide investment advice. The inclusion of non-CBOE advertisements on the website should not be construed as an endorsement or an indication of the value of any product, service, or website. The Terms and Conditions govern use of this website and use of this website will be deemed acceptance of those Terms and Conditions.