The majority of options contracts trade Monday - Friday from 9:30am to 4pm ET, and expire on Fridays. However, there are a handful of assets – primarily index options and options on ETFs that track major market indices (like SPY) – that trade until 4:15pm ET. PM-settled index options stop trading at 4pm ET on day of expiration.

On the day of expiration, you’ll have until 3 pm to open a same-day expiring contract, and until 3:30 pm (Stocks & ETFs) and 4 pm (Indices) to close a same-day expiring contract. For stock & ETF options, Public will automatically cancel any pending orders for same-day expiring contracts at 3:30 pm ET.

Additionally, Public may start attempting to close out any same-day expiring positions that are at risk. To understand at risk positions, refer to the Understanding option expiration, exercise and assignment FAQ.

For further questions please contact Member Support via in-app chat or email at support@public.com.

Options carry significant risk and are not suitable for all investors. Options investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date. Certain complex options strategies carry additional risk. There are additional costs associated with option strategies that call for multiple purchases and sales of options. Supporting documentation for any claims will be furnished upon request. Prior to buying or selling an option, investors must read and understand the “Characteristics and Risks of Standardized Options,” which can be found at: public.com/ODD. See full terms of the Options Order Flow Rebate Program at public.com/disclosures/rebate-terms. Rebate rates are subject to change for new and existing enrollees.