Im watching Quantra by QuantInsti | Courses on Algorithmic and Quantitative Trading
and it totally confuses daily and weekly options, the options shown aren’t even listed by expiration date and the daily and weekly are mixed together…
Hello Jim, I understand where the confusion arises from.
The exchanges classifies these contracts as
- Standard monthly expirations (3rd Friday of each month)
- Non-standard expirations = Weeklies
Even though SPX offers options every day, they are still filed and traded under the umbrella of the weekly options program.
Even though some of the contracts presented in the video expire based on the day of the week, they are not termed as daily options in this video since they are still part of a weekly series. Calling them daily options would imply each contract lasts 1 day, which isn’t always true. SPX weeklies can be listed days or weeks in advance. (but these are informally called daily expiry contracts to describe SPX’s Mon–Fri expirations).
Hope this clarifies.