This is one of the
existing expiration
cycles for equity
options. All Equity
Options products are
divided into three
expiration cycles
where the new far-off
expiration dates are
picked from the first,
second or third months
of a quarter, called
JAN, FEB and MAR,
respectively. For all
non-equity Options
(Indexes, ETFs etc.),
the OTH
("Other")
expiration cycle is
assigned.