VIX and SPX calendar logic

VIX Expiration vs SPX OpEx

Standard VIX expirations are not just another equity OpEx date. They are tied to the standard SPX option cycle 30 days later, so the useful answer is a relationship table rather than a single-date rule.

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Relationship

30 days before SPX

Standard VIX expirations are calculated from the standard SPX option cycle 30 days later.

May 2026 exception

Tuesday, May 19

The related June 2026 SPX cycle is holiday-adjusted, which changes the VIX date.

Settlement caveat

AM-settled

VIX options should not be treated like PM-settled ETF options.

2026 VIX dates mapped to related SPX OpEx

Read the VIX expiration and the related SPX monthly expiration together. This is the table form of the current GSC query: VIX expiration date relative to SPX OpEx.

VIX monthVIX expirationRelated SPX OpExLast trading day / note
JanuaryWednesday, January 21, 2026Friday, February 20, 2026January 20, 2026. Standard VIX monthly expiration.
FebruaryWednesday, February 18, 2026Friday, March 20, 2026February 17, 2026. Standard VIX monthly expiration.
MarchWednesday, March 18, 2026Friday, April 17, 2026March 17, 2026. Standard VIX monthly expiration.
AprilWednesday, April 15, 2026Friday, May 15, 2026April 14, 2026. Standard VIX monthly expiration.
MayTuesday, May 19, 2026Thursday, June 18, 2026May 18, 2026. Tuesday exception because the related standard SPX cycle is holiday-adjusted.
JuneWednesday, June 17, 2026Friday, July 17, 2026June 16, 2026. Standard VIX monthly expiration.
JulyWednesday, July 22, 2026Friday, August 21, 2026July 21, 2026. Standard VIX monthly expiration.
AugustWednesday, August 19, 2026Friday, September 18, 2026August 18, 2026. Standard VIX monthly expiration.
SeptemberWednesday, September 16, 2026Friday, October 16, 2026September 15, 2026. Standard VIX monthly expiration.
OctoberWednesday, October 21, 2026Friday, November 20, 2026October 20, 2026. Standard VIX monthly expiration.
NovemberWednesday, November 18, 2026Friday, December 18, 2026November 17, 2026. Standard VIX monthly expiration.
DecemberWednesday, December 16, 2026Friday, January 15, 2027December 15, 2026. Standard VIX monthly expiration.

Why it matters

Do not model VIX expiration like SPY expiration

SPY, QQQ, and most single-stock options are useful comparisons for weekly and monthly equity workflows. VIX is different because standard VIX options are AM-settled and are dated from the SPX option cycle 30 days later. A backtest or calendar UI should therefore store the related SPX cycle, VIX expiration, and last trading day as separate fields.

Last verified

Date-sensitive calendar references on this page were checked on April 28, 2026. Calendar math is useful for planning, but listed contracts and exchange calendars should still be verified before production workflows run.

Sources to verify before production use: Cboe 2026 options calendar and Cboe VIX options specifications.

VIX vs SPX OpEx FAQ

How are VIX expiration dates related to SPX OpEx?

Standard VIX expiration dates are calculated from the standard SPX option cycle 30 days later, so the VIX date should be read together with the related SPX monthly expiration.

Why is the May 2026 VIX expiration on Tuesday?

The related June 2026 SPX monthly expiration is holiday-adjusted from Friday to Thursday, so the standard VIX expiration tied to that cycle falls on Tuesday, May 19, 2026.

Is VIX settlement the same as SPY settlement?

No. Standard VIX options are AM-settled and usually stop trading before the settlement morning, while SPY options are equity ETF options with different settlement mechanics.

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