Series 4 Exam - Weekly Options

The CBOE has introduced weekly options designed to provide investors with the ability to speculate on the direction of a stock or index based on the release of pending news  such as an earnings release or an announcement from the Federal Reserve board relating to an interest rate decision. Weekly options will also allow investors who are long or short to hedge their positions for only the period of time that includes the pending news release.  As such the investor will be able to buy the hedge at a much lower premium due to the extremely short time frame of the option. Weekly options are listed on Thursday and expire the following Friday. New weeklys are listed each week however no new weeklys are listed that would expire during the expiration week for standard options (the third Friday of each month)

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