Realignment for S&P 500 Weeklys, Quarterlys & SPXpm in 2013

Today CBOE Holdings announced plans to make the following two changes for its S&P 500® index options product line in the first quarter of 2013, pending regulatory approval –

 

(1) Transition its SPXpm index options product from the company’s all-electronic C2 Options Exchange (C2) to Chicago Board Options Exchange (CBOE), where it will be traded on CBOE’s hybrid trading model which incorporates both electronic and open outcry trading. The transition will consolidate the company’s entire S&P 500 options product line on one exchange, CBOE.

(2) The company’s pm-settled SPX options (including SPXpm, SPX Weeklys and SPX Quarterlys) will trade in CBOE’s hybrid environment under ticker “SPXPM.”  (Its flagship SPX option, which is a.m.-settled, will continue to trade in CBOE’s open outcry environment under ticker “SPX.”) The migration of SPXpm from C2 to CBOE is expected to result in increased access and liquidity by exposing the product to an even broader user base.

CURRENT ALIGNMENT FOR THE END OF 2012

This table shows the current alignment for key S&P 500 options (the three shaded, italicized cells relating to root ticker symbols, options chain, and underlying index are subject to change in 2013).

FUTURE REALIGNMENT (planned for 1st quarter of 2013)

The table below has three shaded cells with planned changes relating to root ticker symbols, options chain, and underlying index — all to be “SPXpm.”

UPCOMING EXPIRATION DATES FOR S&P 500 OPTIONS

Here are expiration dates for S&P 500 options over the next three months –

30-Nov-2012 – S&P 500 Weeklys

7-Dec-2012 – S&P 500 Weeklys

14-Dec-2012 – S&P 500 Weeklys

21-Dec-2012 – SPX (am-settled) and SPXpm

31-Dec-2012 – S&P 500 Quarterlys

19-Jan-2013 – SPX (am-settled) and SPXpm

16-Feb-2013 – SPX (am-settled) and SPXpm

RECORD VOLUME MONTH FOR S&P 500 WEEKLYS

S&P 500 Weekly options had an all-time record trading volume in October, with average daily volume of 134,961 contracts. Weeklys options can provide opportunities for investors to implement more targeted buying, selling or spreading strategies. Weeklys options can help investors efficiently take advantage of market events, such as earnings, government reports and Fed announcements.