Nasdaq Adds Monday and Wednesday Options for Quicker Trades
Published Date: 5/21/2025
Notice
Summary
Nasdaq ISE wants to let traders buy and sell options that expire on Mondays and Wednesdays for certain stocks and ETFs, not just Fridays. This change means more chances to trade short-term options, helping investors react faster to market moves. The new rules could start soon after approval, making trading more flexible without extra costs.
Analyzed Economic Effects
4 provisions identified: 3 benefits, 0 costs, 1 mixed.
Projected Effect on Large Tech & ETF Strike Counts
Using January 2025 data as an example, the Exchange identified sample Qualifying Securities (NVDA, TSLA, AAPL, AMZN, AVGO, GOOGL, MSFT, XLF, META) and estimates the expansion would add about 16% more strikes for each of NVDA, TSLA, AAPL, AMZN, AVGO, GOOGL, MSFT, and META. The Exchange also notes that weekly expirations comprised 52% of industry options volume over a 12-month period it analyzed.
More Monday & Wednesday Option Expirations
The Exchange proposes to allow up to two Monday expirations and up to two Wednesday expirations (beyond the current week) for options on certain qualifying individual stocks and ETFs, in addition to the existing Friday weekly expirations. These additional short-term expiries would be P.M.-settled and follow the Exchange's existing strike interval rules.
Who Can Get Extra Expirations
To be a 'Qualifying Security' eligible for the new Monday and Wednesday expirations, an individual stock must have market capitalization greater than $700,000,000,000 (measured on the last day of the prior calendar quarter) or an ETF must have AUM greater than $50,000,000,000 (based on NAV). Additional criteria: monthly options volume (sides) in the last month before quarter end must be greater than 10,000,000, the class must have a position limit of at least 250,000 contracts, and it must participate in the Penny Interval Program.
Counting Limits on New Series
The Exchange would limit listings to no more than two Monday expirations and two Wednesday expirations beyond the current week for each Qualifying Security, and would apply the existing limit of thirty (30) series per expiration date for a specific class. The Exchange may also list series that are open on other exchanges.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Take It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in