A: Yes, and they call them "Weekly Options Series" or "Weeklys". In addition to previously listed index Weekly options series, the exchanges are now participating in an approved pilot program which allows trading in some equity and ETF Weeklys. These Weeklys have a very short time until expiration – approximately one week. Weekly option series will be listed on a Thursday or Friday and, in most cases, expire the following Friday. Each exchange can list weekly options series on a limited number of classes during the pilot program. You will want to become fully familiar with the contract specifications of any option product you trade by visiting the exchange website where that contract trades.
A: Weekly Option Series will be listed each Thursday or Friday (depending on the listing exchange's rules) and expire the following Friday except for those instances when the following Friday is a standard Expiration Friday (the 3rd Friday of the month). If the following Friday is an OCC holiday, the weekly option series will expire on the Thursday preceding the holiday. No new Weeklys are listed that would expire during the expiration week for standard options (the third Friday of each month). In other words, the exchanges do not list new Weeklys on the 2nd Thursday of a month and do not trade Weeklys during the following, standard expiration week until new series are listed on Thursday of that week.
A: Because weekly open interest expires every week, the exchanges have the ability to list different products from week to week. Although this practice has not been frequent, you will want to check with your brokerage firm, the exchange web sites, or inquire by calling 1-888-OPTIONS (678-4667) for currently available products.