Expiration Dates & Contract Cycles

Understanding expiration dates and contract cycles helps you choose the right options for your strategy.

Expiration Types

Weekly (active traders)

Monthly (most liquidity)

Quarterly (large institutions)

LEAPS (long-term calls/puts expiring 1–3 years out)

Shorter Expiration =

  • Cheaper premiums
  • Faster decay (good for sellers)
  • More risk (bad for buyers)

Longer Expiration =

  • Higher premiums
  • Lower decay
  • More stability

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