Weekly Options (Weeklies)

Weekly options, or "weeklies," are options contracts that expire every week instead of once a month like traditional options. These short-term contracts allow traders to take advantage of quick price movements, earnings announcements, or market events. Weeklies tend to have higher implied volatility and can be riskier due to rapid time decay, but they are popular for short-term trading strategies like scalping, spreads, and hedging. So weeklies expire every week (usually on Friday for equities); generally traders will refer to “weeklies” as “this week's expiration”, but the term is not limited to “this week”.