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To: HairBall who wrote (29658)	10/14/1999 4:11:00 PM
From: Casaubon	Read Replies (1) \| Respond to of 99985

LG, third friday of each month. This friday is expiration.

To: HairBall who wrote (29658)	10/14/1999 4:17:00 PM
From: JDinBaltimore	Read Replies (1) \| Respond to of 99985

LG, They actually stop trading on the 3rd Thursday of each month except european and I believe Leaps which trade on Friday. Saturday is settlement. No CBOE expirey options trade on Friday. So Iguess what you're looking for is the 3rd Thursday of each month. Best JD

To: HairBall who wrote (29658)	10/14/1999 4:18:00 PM
From: Ben Antanaitis	Read Replies (1) \| Respond to of 99985

LG, Expiry is the Saturday after the third Friday of each month. Since Options (Open Interest) cannot be traded on Saturday, most people refer to the third Friday as expiration day or expiry day even though it technically is the next day, Saturday. A new Max-Pain Point&#153 calculation process is initiated after expiry day each month, for the Open Interest that will expire at the next expiry event. The details of the official calculation are presented here: ez-pnf.com Ben A. ez-pnf.com

To: HairBall who wrote (29658)	10/14/1999 4:18:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Well I will call it max loss from now on so I don't infringe on any copywrites <g> but it will be meaningless at the close tomorrow. Options are settled based on the closing prices the third Saturday of each month which means obviously that Friday's close is the basis. Some options do expire early on Thursday's close but I am not sure which ones. The OEX and most other index options actually trade for 15 minutes past the close so I usually close them out even if they are winners just to be safe. I have seen the pits rally or dump after the 4:00 close just to align everything to thier liking too many times. <ng> Just to make clear to any lurkers out there, my attempted play was a one day play only on tonight's earnings and a dead cat bounce expectation for tomorrow. I would NOT buy it tomorrow morning for a play. Good Luck, Lee