What is an Options expiry?
Options expiry is the last day in which the option can trade or be exercised, before it will expire and cease to exist.
The expiry date for exchange traded options is usually the third Thursday of the expiry month or generally Thursday for Weekly Options. ASX Clear has the right to change these dates should the need arise.
Important: Options have limited life and generally fixed expiry date, after which they are worthless. Their value can fall rapidly as they approach expiry.
Index and Equity Options are handled differently on the day of expiry:
- Index Options settlement price is determined at the market open using ‘Opening Price Index Calculation (OPIC)’. OPIC is published daily by ASX, generally around 10:10am (Sydney time). You can find out the OPIC by logging into CommSec and searching for the code ‘OXJO’. Index Options cease trading at 12pm (Sydney time) on the expiry date.
- Equity Options continue trading until the market close.
