Investors often are interested in risk management and volatility expectations over different time periods. Below is an overview of the VIX term structure, and an update on the launch of SPX Extended Weekly options.
1. VIX TERM STRUCTURE
The VIX® term structure illustrates, by maturity, expectations of market volatility conveyed by S&P 500 (SPX) stock index option prices. CBOE calculates these expectations by applying the VIX methodology to standard SPX option maturities. The items below represent the VIX term structure as of the date and time indicated. www.cboe.com/VIX
2. EXTENSION OF THE LISTINGS OF S&P 500® SPX WEEKLY (SPXW) OPTIONS
On May 31st CBOE began an extension of the listings of S&P 500® SPX Weekly (SPXW) options, and CBOE Holdings now maintains five consecutive expiration weeks available for trading options on the S&P 500. www.cboe.com/SPXW
In the first five trading days of June, the total volume for SPX Weekly options was 876,945, and average daily volume of SPXW options was 175,389.
3. SPX OPTIONS EXPIRATION DATES NOW AVAILABLE
Here is a list of SPX options expiration dates over the next five weeks
Expiration Options Contract URL
8-Jun-2012 SPX Weeklys www.cboe.com/SPXW
16-Jun-2012 SPXpm options www.cboe.com/SPXpm
16-Jun-2012 SPX options (a.m.-settled) www.cboe.com/SPX
22-Jun-2012 SPX Weeklys www.cboe.com/SPXW
29-Jun-2012 SPX Quarterly Options www.cboe.com/SPXQ
6-Jul-2012 SPX Weeklys www.cboe.com/SPXW
13-Jul-2012 SPX Weeklys www.cboe.com/SPXW
Please visit www.cboe.com/SPX for information about more SPX expiration dates in future months and years.
4. MORE INFORMATION ON SPX WEEKLY OPTIONS
SPX Weeklys are traded on CBOE and quotes can be found in SPX options chains under root symbol SPXW. SPX Weeklys are PM-settled on the last trading day, typically a Friday.
Key features of SPX Weeklys options —
> LARGE CONTRACT SIZE WITH A $100 MULTIPLIER (ten times larger than SPY options);
> EUROPEAN-STYLE EXERCISE.