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Option Expiration Calendar

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by Gavin in Blog
June 20, 2022 0 comments
option expiration calendar

If you like to plan ahead, here is the option expiration calendar for 2022 to 2024.

We have also listed the historical expiration dates from 2020 to 2021.

Contents

Option Expiration Cycles

US stock options fall into one of three expiration cycles:

  • JAJO – January, April, July, October
  • FMAN – February, May, August, November
  • MJSD – March, June, September, December

Stocks will have options available in the first two front months, followed by the two remaining cycle months.

As options have become more popular in recent years, the cycle is less important now than it once was.

Heavily traded stocks and ETFs often have options available each month for the next six months.

For example, at the time of writing (mid-June 2022), AAPL had options available in the following expiration months:

2022

  • June
  • July
  • August
  • September
  • October
  • November
  • December

2023

  • January
  • March
  • June
  • September

2024

  • January
  • June

The following weekly options were also available in 2022:

  • June 24
  • July 01
  • July 8
  • July 15 (regular monthly expiration)
  • July 22
  • July 29

When Do Options Expire?

For US stock options, the expiration date falls on the third Friday of the expiration month (except when that Friday is also a holiday, in which case it will be brought forward by one day to Thursday).

US Index options are settled on Friday morning, with the last trading day being the Thursday before expiration.

Settlement values are often different from the Thursday Index closing price.

This difference is because the settlement value is calculated based on the opening prices on Friday.

Option Expiration Calendar 2022

Monthly option expiration calendar:

21 January 2022
18 February 2022
18 March 2022
14 April 2022 (Thursday, due to Good Friday on 15 April 2022)
20 May 2022
17 June 2022
15 July 2022
19 August 2022
16 September 2022
21 October 2022
18 November 2022
16 December 2022

Option Expiration Calendar 2023

20 January 2023
17 February 2023
17 March 2023
21 April 2023
19 May 2023
16 June 2023
21 July 2023
18 August 2023
15 September 2023
20 October 2023
17 November 2023
15 December 2023

Option Expiration Calendar 2024

19 January 2024
16 February 2024
15 March 2024
19 April 2024
17 May 2024
21 June 2024
19 July 2024
16 August 2024
20 September 2024
18 October 2024
15 November 2024
20 December 2024

Option Expiration Calendar History: 2020-2021

2020

17 January 2020
21 February 2020
20 March 2020
17 April 2020
15 May 2020
19 June 2020
17 July 2020
21 August 2020
18 September 2020
16 October 2020
20 November 2020
18 December 2020

2021

15 January 2021
19 February 2021
19 March 2021
16 April 2021
21 May 2021
18 June 2021
16 July 2021
20 August 2021
17 September 2021
15 October 2021
19 November 2021
17 December 2021

FAQ

What day of the month do options expire?

US stock options expire on the third Friday of their expiration month.

US Index options are settled on Friday morning but cease trading on Thursday afternoon.

How do I know when my options expire?

The expiration date for US stock options is normally the third Friday of the expiration month.

On months that the Friday falls on a holiday, the expiration date is on the Thursday immediately before the third Friday.

Do options expire at 4 pm?

Stock options cease trading at 4pm on the expiration date.

However, the actual expiration time is Saturday at 11.59am EST. This is when settlement occurs.

It is important to note that many stocks continue to trade after hours until 8:00 pm ET, even on expiration Friday.

After-hours trading may affect the intrinsic value of an option.

Should I buy weekly or monthly options?

Weekly option values will fluctuate more rapidly than monthly options.

Deciding whether to buy weekly or monthly options will depend on your trading style.

Is it better to sell options closer to expiration?

This depends on your trading style.

Selling short-term options provides the highest level of time decay but can also be risky if the trade moves against you.

Losses with weekly options can occur very quickly.

Should you buy options on Friday?

Many beginner traders believe that options lose value over the weekend.

In reality, market makers start taking into account weekend time decay as early as Thursday.

What happens if I don’t exit an option on expiry?

This depends on whether the option is in the money or out of the money.

Out of the money options will simply expire and be removed from your trading account.

Options that are at least $0.01 in the money will be automatically exercised by your broker.

Note that there can be additional fees for exercising an option, so it may be better to close the option before expiration.

What happens if a strike price hits before it expires?

If you are long a call option, you want the stock price to be higher than the strike price on the expiration day.

The call option is essentially worthless if the stock is below the strike price on the expiration day.

To achieve a profit on a long call option at expiration, you need the stock price to be above the breakeven price.

The breakeven price is calculated by taking the strike price and adding the premium paid.

Conclusion

There you have the option expiration calendars for 2004 to 2024.

If you have any questions about this, please send us an email or leave a comment below.

Trade safe!

Disclaimer: The information above is for educational purposes only and should not be treated as investment advice. The strategy presented would not be suitable for investors who are not familiar with exchange traded options. Any readers interested in this strategy should do their own research and seek advice from a licensed financial adviser.

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Options Trading 101 - The Ultimate Beginners Guide To Options

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