Short-Term Options Strategies: Weeklys, Dailys, and Zero Days to Expiration

Before 2005, exchange-listed options expired once per month. Nowadays, with the swelling demand, weekly expirations may be available for options on many equities, and more frequent expirations may be available for some indexes and ETFs. Recently, there has even been a surge in volume for options on their expiration dates, also known as “zero days to expiration”. With so many choices available, what are the potential benefits and risks to investors? And what are the potential impacts on the broader market? This informative webcast may help you better understand the reasons why, as we dive into how investors may be using very short-term options. In this webcast we will cover:

• How the principles of time decay, gamma and liquidity apply to short duration options.
• What's behind the recent explosion in zero days to expiration options volume, and the potential benefits and risks for the market as a whole.
• Analyzing potential income, hedging, and speculative strategies using short-term options.
• Trade criteria and management considerations for short-term options strategies.

Continuing Education (CE) Credit: 1 CERTIFIED FINANCIAL PLANNER™ (CFP™) CE credit. 1 CIMA®, CPWA®, CIS^sm and RMA^sm CE credit.

Note: CE credits are not available when accessing the webcast through the replay link. You must attend the live webcast to be eligible for the CE credits.

Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options. Please read the options disclosure document titled "Characteristics and Risks of Standardized Options". Supporting documentation for any claims or statistical information is available upon request. Investing involves risks, including loss of principal. Hedging and protective strategies generally involve additional costs and do not assure a profit or guarantee against loss.

Because they are short-lived instruments, Weekly options positions require close monitoring, as they can be subject to significant volatility. Profits can disappear quickly and can even turn into losses with a very small movement of the underlying asset.

Weeklys is a service mark of Cboe Exchange, Inc.