Index Options have unique trading times that traders should be aware of. Trading times vary by Symbol and Expiration Date. Please note the following:
1) Monthly Options that Expire on the 3rd Friday of the month are AM Settled Options. This means the settlement price, on which exercise and assignment amounts are determined, is based on the opening print of the index on Friday. The options stop trading at 5:00 PM EST on Thursday night.
2) Daily Index options on SPX, XSP and VIX trade until 5:00 PM EST at Tradier on any day before they expire. On the day of expiration, they only trade until 4:00 PM EST. For example, if you have an option that expires on Wednesday, you can trade that option until 5:00 PM on Monday and Tuesday, but you can only trade it until 4:00 PM on Wednesday, the day it expires.
3) Other Index options that have daily options like RUT and NDX trade until 4:15 PM EST each day, except on the day they expire. On the day of expiration, they trade until 4:00 PM EST.
*Symbols subject to these rules may be added or removed without notice.