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Ok, I thought this was going to be a no-brainer, but I'm somewhat confused. I was thinking over the weekend of shorting the DJIA due to all the doom and gloom. I looked into possibly buying the ATM puts a little over a month away and holding it for a few days and see what happens.

I looked up the Dec 2007 130 puts for the diamonds (DIA) and came across 2 variations. One was DAWXZ for 4.15 and the other one was BQQXZ for 3.74.

Why are there 2 variations?
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The DAW series are the normal December options that expire on the third Friday of the month (Dec. 21).

The BQQ series are the quarterly December options that expire on the last day of the month (Monday, Dec. 31).

Rwanda
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Thanks for the reply.

I see the difference in expiration now, but why such a discrepancy for just 10 days? And, if the BQQ series for December ends 10 days later, shouldn't there be more time value?

It's somewhat moot anyway, I already bought the DAWXA (the DAWXZ was slightly OTM).
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