Cash-Settled Indexes Options Specifications

Monthly/Weekly Summary

All of the options listed on the indexes below are cash-settled. The symbols listed below, except for OEX, are European-style options, meaning they can only be exercised, resulting in an assignment, at expiration. If an expiration day or last trade day falls on an exchange holiday, the expiration day or last trade day will be the prior business day.

Some of the underlyings below may be subject to a Single-Listed Exchange Proprietary Index Options Fee by the CBOE. To learn more about these fees, please click here.

Are you receiving an error when trying to close out of your monthly index option? To learn more, please click here.

To learn about how cash-settled index options are assigned or exercised, then click here.


symbolrootset monthly/
AM / PM  last trade day  more info
VIXVIXVRObothWednesday 1AMTuesday 2CBOE spec
SPXSPXSETmonthlyFridayAMThursday 3CBOE spec
SPXSPXW-weeklyFridayPMFridayCBOE spec
XSPXSP-bothFridayPMFridayCBOE spec
NDXNDXXQOmonthlyFridayAMThursday 3Nasdaq spec
RUTRUTRLSmonthlyFridayAMThursday 3CBOE spec
DJXDJXDJSmonthlyFridayAMThursday 3CBOE spec
OEXOEX-bothFridayPMFridayCBOE spec
XEOXEO-bothFridayPMFridayCBOE spec

If Wednesday or the Friday that is 30 days following that Wednesday is an Exchange holiday, the Expiration Date will be on the business day immediately preceding that Wednesday.

2 The last trading day for VIX options is the business day prior to the Expiration Date of each contract expiration. When the Last Trading Day is moved because of a CBOE holiday, the Last Trading Day for an expiring VIX options contract will be the day immediately preceding the last regularly scheduled trading day.

3 AM-expiration options will have an AM icon designation wherever the position displays in the desktop platform: 

Example of an AM-Expiration Option

Day of expiration options for NDX (weeklys), RUT (weeklys), SPX (weeklys), OEX, and XEO stop trading at 3:00 PM Central (Chicago time). To view a list of options that trade until 3:15 pm Central (or 15 minutes after the close), then please click here.

End of Month Index Expirations (EOM)

SPX offers options with end-of-month (EOM) expiration.

  • SPX EOM options feature expiration dates that fall on the last business day of the month, as opposed to the standard third Friday of the month expirations.
  • SPX EOM options are PM-settled.
  • Trading in expiring SPX EOMs closes at 3:00 pm (CT) on their expiration date.
  • SPX EOM Spec (

Quarterly Index Expirations (QIXs)

RUT, XEO, and XSP offer options with Quarterly Index Expirations (QIXs).

The quarterly options expire on the last business day of the calendar quarter.


OEX & XEO options are based on the same underlying (the S&P 100). The difference between the two is that OEX is American-style whereas XEO is European-style. Additionally, XEO offers quarterly expirations, but OEX does not.