Cboe Exchange, Inc. proposed a rule change to alter the trading hours for certain types of index options. Specifically, on the last trading day, the Regular Trading Hours for index Monthly Options Series and Quarterly Options Series will end at 4:00 p.m. (Eastern time), instead of 4:15 p.m. This adjustment aims to address potential pricing issues by ensuring that trading does not continue after the options' exercise settlement values have been fixed. The Securities and Exchange Commission (SEC) is seeking comments from the public on this proposed change.
Simple Explanation
Cboe wants to change their rules so that certain market activities end a bit earlier, like finishing a game before bedtime. They're doing this to help make sure the prices are fair and accurate. The people who run the rules for these games are checking to see if it's a good idea and want to hear what other people think.