Weekday Options Expirations Proposed for Nasdaq ISE
Published Date: 7/15/2025
Notice
Summary
Nasdaq ISE wants to let traders buy and sell options that expire on Mondays and Wednesdays for certain stocks and ETFs, adding more flexibility to the Short Term Option Series Program. This change could mean more trading opportunities and faster moves for investors starting soon. The SEC is reviewing the update and will decide by August 19, 2025.
Analyzed Economic Effects
6 provisions identified: 3 benefits, 1 costs, 2 mixed.
New Monday & Wednesday Option Expiries
You (as an investor or trader) could be able to buy and sell option series that expire on Mondays and Wednesdays for certain large stocks and ETFs. The Exchange proposes allowing up to two Monday expirations and two Wednesday expirations beyond the current week for each qualifying security, in addition to existing Friday expirations.
Projected Change in Strikes and Strike Breaks
Using a sample set of qualifying symbols (e.g., NVDA, TSLA, AAPL, AMZN, AVGO, GOOGL, MSFT, META), the Exchange estimates the expansion would add about 16% more strikes for those symbols and that the marginal increase in strike breaks in 2024 would be 66 total (about 22 on Mondays and 44 on Wednesdays). Weeklies currently comprise 52% of total options volume.
Which Securities Can Get Extra Expiries
The extra Monday and Wednesday expirations would only be allowed for 'Qualifying Securities' that meet specific tests each quarter: for stocks, market capitalization greater than $700 billion (measured on the last day of the prior quarter); for ETFs, Assets Under Management greater than $50 billion by NAV. Other requirements include monthly options volume over 10 million sides, a position limit of at least 250,000 contracts, and participation in the Penny Interval Program.
No Expiries on Post-Close Earnings Days
For Qualifying Securities, the Exchange would not list a Monday or Wednesday expiry on any day when there is an after-market Earnings Announcement filed with the Commission. This means expirations will be skipped on days with official post-close quarterly or yearly earnings filings.
Strike Intervals and P.M. Settlement
The Monday and Wednesday expirations would use the same strike price intervals currently applied for SPY, QQQ, and IWM: $0.50 or greater for strikes below $100, $1 for strikes between $100 and $150, and $2.50 or greater for strikes above $150. These series will be P.M.-settled (settle at the close of business).
Cap on Number of Series Remains
The Exchange would continue to be limited to opening no more than 30 series for each expiration date for a specific option class, and that 30-series restriction would apply to the new Monday and Wednesday expirations as well. The Exchange may also list series already 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
Related Federal Register Documents
2026-12163 — The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373 — Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222 — Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-13638 — Goehring & Rozencwajg Investment Funds and Goehring & Rozencwajg Associates, LLC
Goehring & Rozencwajg want to offer a new kind of investment fund that mixes exchange-traded shares (like ETFs) with regular mutual fund shares all in one fund. This change could make investing more flexible and easier for their customers. If no one asks for a hearing by July 27, 2026, the SEC will likely approve this new setup soon.
2026-13648 — Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Except Accounts Pursuant to Section 530A of the Internal Revenue Code From the Requirements of FINRA Rule 3210 (Accounts At Other Broker-Dealers and Financial Institutions)
FINRA is updating its rules to exclude certain accounts protected under a new tax law (Section 530A) from extra paperwork and approval steps. This change helps financial pros handle these special accounts more easily, starting right away with no extra costs. If you work with broker-dealers or financial institutions, this means smoother account management from now on!
Previous / Next Documents
Previous: 2025-13196 — Self-Regulatory Organizations; Nasdaq Stock Market LLC; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To List and Trade Shares of the Grayscale Avalanche Trust (AVAX) Under Nasdaq Rule 5711(d) (Commodity Based Trust Shares)
The SEC is deciding whether to approve Nasdaq’s plan to list and trade shares of the Grayscale Avalanche Trust (AVAX), a new crypto-based investment product. This affects investors interested in trading AVAX on Nasdaq and could open up fresh opportunities in crypto investing. The SEC’s decision deadline is July 15, 2025, and the outcome could impact market access and trading options.
Next: 2025-13198 — Forms Submitted to the Office of Management and Budget for Extension Clearance
The Selective Service System is asking to keep using some important forms that help people update their registration info, like name or address changes. These forms don’t have any changes and only take about two minutes to fill out. If you’re registered, this keeps things accurate without costing you time or money, and you have 30 days to share your thoughts on this plan.