Options start trading at 9:30 a.m. Eastern Time on weekdays when U.S. stock markets are open

The opening bell for options on stocks and ETFs rings at 9:30 a.m. ET, the same time the stock market itself opens. This applies to options traded on the major U.S. exchanges — the Chicago Board Options Exchange (CBOE), the largest options marketplace, and others. If you place an order before 9:30 a.m., it will sit in a queue and execute once the market opens, assuming the price meets your order terms.

Options close at 4:00 p.m. ET on regular trading days. This is 30 minutes after stocks stop trading at 3:30 p.m. ET, which gives options traders a brief window to close positions after the stock market closes. After 4:00 p.m., you cannot trade standard equity options until the next market day.

Key Takeaways

  • Standard options trading runs from 9:30 a.m. to 4:00 p.m. Eastern Time on weekdays when the stock market is open.
  • Orders placed before 9:30 a.m. will queue and execute at market open if conditions are met, not at the price you see pre-market.
  • Options do not trade on weekends, holidays when the stock market is closed, or after 4:00 p.m. on regular trading days.
  • Some brokers offer after-hours options trading through special programs, but liquidity is much lower and spreads are wider than during regular hours.
  • Index options like those on the S&P 500 may have slightly different close times depending on the specific contract.

Why options close 30 minutes after stocks

The half-hour gap exists because options prices depend on the underlying stock price. Once stocks stop trading at 3:30 p.m., options traders have until 4:00 p.m. to adjust positions based on where the stock closed. This window lets you exit a trade or hedge a position after seeing the day's final stock price, rather than being forced to hold overnight.

In practice, most options volume happens during regular stock market hours. The 3:30 to 4:00 p.m. window is quieter, and bid-ask spreads (the difference between what buyers will pay and what sellers want) widen because fewer traders are active. If you need to close a position, doing it before 3:30 p.m. usually means better prices.

What happens if you try to trade outside market hours

If you submit an options order after 4:00 p.m. or before 9:30 a.m., your broker will typically hold it as a day order or good-till-canceled (GTC) order, depending on what you selected. A day order expires at the end of that trading day if it does not fill. A GTC order stays active until you cancel it or it fills, which could be days or weeks later.

Your order will not execute at the price you see on your screen during off-hours. Options prices move constantly during market hours based on stock price changes, volatility, and time decay. When the market opens, your order will execute only if the current market price matches your limit price (the price you specified). If the market has moved against you, your order may not fill at all.

After-hours options trading through brokers

Some brokers, including Interactive Brokers and a few others, offer after-hours options trading through special programs. These sessions typically run from 4:00 p.m. to 5:15 p.m. ET. However, after-hours options trading is much thinner than regular-hours trading — fewer traders are active, prices are less reliable, and the bid-ask spread is often two to three times wider than during the day.

After-hours options trading is not recommended for most traders. The wider spreads mean you pay more to buy and receive less when you sell. Liquidity can dry up suddenly, leaving you unable to exit a position. If your broker offers it, check whether your account type qualifies and what the actual trading hours are, since they vary by broker.

How pre-market and after-hours stock trading affects options

Stocks can trade before 9:30 a.m. and after 4:00 p.m. in pre-market and after-hours sessions. However, standard options do not trade during these windows. If a stock moves sharply in pre-market trading, your options position will not change in value until the regular market opens at 9:30 a.m. — and the opening price may be far from where you expected it.

This gap creates risk. If you hold a call option and the stock drops 10% in after-hours trading, you will not know your position's real value until 9:30 a.m. the next day. When the market opens, your option may open at a much lower price than the previous day's close. This is one reason options traders often close positions before 4:00 p.m. rather than holding overnight.

Weekend and holiday closures

Options do not trade on weekends or on days when the U.S. stock market is closed. The major holidays when markets close include New Year's Day, Martin Luther King Jr. Day, Presidents' Day, Good Friday, Memorial Day, Juneteenth, Independence Day, Labor Day, Thanksgiving, and Christmas. On these days, no options orders will execute, and your positions will simply sit unchanged until the next trading day.

If you hold an options position heading into a weekend or holiday, you are exposed to any news or events that occur while markets are closed. The position cannot be adjusted or closed until the market reopens. This is another reason traders often manage positions before market close on Fridays or before holidays.

Index options and special cases

Most index options, such as those on the S&P 500 (SPX) or the Nasdaq-100 (NDX), follow the same 9:30 a.m. to 4:00 p.m. ET schedule as stock options. However, some index options have different settlement rules or close times. For example, certain weekly options or VIX options (which track market volatility) may have different expiration times or trading windows. Check your broker's specifications for the exact contract you are trading.

Futures options — options on commodities, currencies, or stock index futures — trade on different exchanges with different hours. Crude oil futures options, for instance, trade nearly 24 hours a day on the NYMEX. If you trade anything other than standard U.S. equity or index options, confirm the exact trading hours with your broker or the exchange.

Frequently Asked Questions

Can I place an options order at 8:00 a.m. and have it execute at 9:30 a.m.?

Yes, if you set it as a day order or GTC order. Your broker will queue it, and it will execute at 9:30 a.m. if the market price matches your limit price. However, the opening price may be different from pre-market prices you see, so your order might not fill if the market opens higher or lower than expected.

What if I hold an options position when the market closes at 4:00 p.m.?

Your position stays open and carries overnight risk. The underlying stock can move in after-hours trading, and you cannot adjust or close your options position until 9:30 a.m. the next day. When the market reopens, your option's value will reflect the new stock price, which may be significantly different from the previous close.

Do options expire at 4:00 p.m. on expiration day?

No. Options expire at 11:59 p.m. ET on their expiration date, but trading stops at 4:00 p.m. ET on that day. After 4:00 p.m., you cannot trade the expiring options, though your broker will automatically exercise or let them expire based on their value and your account settings.

Can I trade options on a stock that trades 24 hours a day?

No. Even if a stock trades around the clock on certain platforms, standard options on that stock still trade only from 9:30 a.m. to 4:00 p.m. ET. Options are tied to the official exchange schedule, not to the stock's trading availability elsewhere.

What if my broker says options trade until 5:00 p.m.?

Some brokers may offer extended hours through special programs or may display times in a different time zone. Confirm whether this is true after-hours trading (which has lower liquidity) or regular trading hours in your time zone. Most standard options close at 4:00 p.m. ET nationwide.