All VIX options, both monthly and weekly, follow the same AM-settlement schedule:
Day | What happens |
Monday | Normal trading. Position management and adjustments. |
Tuesday (LAST TRADING DAY) | Options stop trading at 3:15 p.m. CT / 4:15 p.m. ET. This is the final opportunity to exit, adjust, or roll any position. There is no ability to trade on settlement morning. |
Wednesday AM (SETTLEMENT) | The SOQ (Special Opening Quotation) is calculated from opening S&P 500 index option prices. VRO — the official settlement ticker — is published once all constituent options have opened, which may take until mid-morning. No VIX option trading occurs on this morning. |
Thursday | Cash settlement delivered. Accounts are credited or debited. |