Cboe EDGX Updates Short-Term Options Trading Program Rules
Published Date: 1/26/2026
Notice
Summary
Cboe EDGX Exchange is updating its Short Term Option Series Program rules to make trading short-term options clearer and more efficient for traders. This change affects anyone trading these options and takes effect immediately, with no extra costs involved. It’s a smooth move to keep the market sharp and user-friendly!
Analyzed Economic Effects
4 provisions identified: 3 benefits, 0 costs, 1 mixed.
Adds Monday and Wednesday Weeklies
The Exchange will allow up to two Monday and two Wednesday short-term option expirations (in addition to Friday weeklies) for certain large, liquid individual stocks and ETF shares. This change applies to qualifying symbols and is limited to two Monday expirations and two Wednesday expirations beyond the current week at one time.
Qualifying Security Eligibility Criteria
To get the new Monday and Wednesday expirations, a security must meet quarterly tests: an individual stock must have market capitalization greater than $700,000,000,000; a Fund Share must have Assets Under Management over $50,000,000,000 (by NAV); monthly options volume must exceed 10,000,000 sides in the last month before the quarter end; position limit must be at least 250,000 contracts; and the class must participate in the Penny Interval Program.
No New Expiries on Post-Close Earnings Days
For Qualifying Securities, the Exchange will not list a Monday or Wednesday expiry on a day when there is an Earnings Announcement after market close (official quarterly or yearly earnings filed with the Commission). If a security stops meeting the eligibility tests, it will lose the Monday and Wednesday expiries starting on the second trading day of the following quarter.
Strike Intervals, PM-Settlement, Series Cap
Monday and Wednesday qualifying expirations will use the same strike intervals as current SPY/QQQ/IWM inner-week expirations: $0.50 or greater for strikes below $100, $1 for strikes $100–$150 (and $0.50 where classes trade in $1 increments), and $2.50 or greater for strikes above $150. All such series will be P.M.-settled and the Exchange’s existing limit of thirty (30) open series per expiration date will apply.
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