Quarterly options, or 'Quarterlies', are available on a select group of index-based products, which may be an exchange-traded fund (ETF) or an index. Quarterlies share many of the same characteristics as traditional monthly options. However, there are two main differences between quarterly and monthly options.
- Expiration date - Quarterly options always expire at the close of business on the last trading day of the quarter (March/June/September/December). The last trading day of the quarter is also the last day on which Quarterlies can be traded.
- Settlement - All quarterly options are p.m. settled.
Quarterly options are currently available on eight different underlying symbols.
Options involve risk and are not suitable for all investors. Detailed information on our policies and the risks associated with options can be found in the Scottrade Options Application and Agreement, Brokerage Account Agreement, and by downloading the Characteristics and Risks of Standardized Options and Supplements (PDF) from The Options Clearing Corporation, or by requesting a copy from your local branch office. Market volatility, volume, and system availability may impact account access and trade execution. Supporting documentation for any claims will be supplied upon request.