Why is the Layered Options expiry about 36 days out?
Quick answerThe rule is the first Friday at least 30 days out, which from a Thursday is 36 days. It gives the spread time to reach its target. A Friday market holiday moves it to the Thursday before.
The details
- The rule: the first Friday at least 30 days after the trade.
- From a Thursday: that Friday is 36 days out.
- Holiday: a Friday holiday moves it to the Thursday before.
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