Cboe Exchange Adds Monday and Wednesday Options Expirations
Published Date: 1/26/2026
Notice
Summary
Cboe Exchange is updating its Short Term Option Series Program to allow options that expire on Mondays and Wednesdays, not just Fridays. This change helps traders get more flexible and frequent trading opportunities. The new rules take effect immediately, making it easier and faster for investors to trade short-term options with potentially better timing.
Analyzed Economic Effects
5 provisions identified: 3 benefits, 0 costs, 2 mixed.
Two Monday & Wednesday Weeklies Allowed
If you trade options, Cboe now allows certain large stocks and ETFs to list up to two Monday expirations and two Wednesday expirations beyond the current week in addition to Friday weeklies. To be eligible a security must meet quarterly tests such as: for an individual stock market capitalization greater than $700 billion, or for an ETF AUM greater than $50 billion, monthly options volume (sides) greater than 10 million, a position limit of at least 250,000 contracts, and participation in the Penny Interval Program.
More Strikes and Some Additional Strike Breaks
Using sample large-cap securities, the filing notes the program could add roughly 16% more strikes for those symbols and ISE estimated a marginal increase of 66 instances of strike breaks in 2024 (22 on Mondays after hours and 44 on Wednesdays). The Exchange expects these added expirations to encourage market‑makers to deploy capital and improve displayed market quality.
Same Strike Intervals and Series Caps Apply
The new Monday and Wednesday expirations use the same strike-price spacing as current Monday/Wednesday expirations: $0.50 or greater for strikes below $100, $1 for strikes between $100 and $150 (with exceptions noted), and $2.50 or greater for strikes above $150. The Exchange remains limited to opening 30 series per expiration date for each class, and this 30-series cap will apply to the new Monday and Wednesday expirations.
No Expirations on Post-Close Earnings Days
Cboe will not list a Monday or Wednesday expiry for a Qualifying Security on any day when that issuer has an earnings announcement that takes place after market close; 'Earnings Announcement' means official quarterly or yearly earnings filed with the SEC. If a Qualifying Security ceases to meet the eligibility criteria, it will stop having Monday and Wednesday expiries beginning on the second trading day of the following quarter.
Immediate Effect on Availability
The Exchange filed the rule change on January 16, 2026 as an immediately effective change, so the new ability to list Monday and Wednesday short‑term expirations can be used right away after filing. The Exchange will publish the quarterly list of Qualifying Securities by the first trading day of each quarter.
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