Options Expiration (OpEx)

The date on which an options contract ceases to exist and the right to exercise expires. Monthly options typically expire on the third Friday of the month, while weekly options expire every Friday. Quarterly and LEAPS expirations add additional dates. Options expiration days -- especially "triple witching" and "quadruple witching" days when stock options, index options, index futures, and single-stock futures all expire simultaneously -- often generate unusual volume and volatility as traders and market makers unwind or roll their positions.