One of the three regular option cycles; represents the months of February, May, August and November. Option cycles refer to a pattern of months in which option contracts expire. Before the introduction of long-term equity anticipation securities (LEAPS), option contracts could only have expiration dates in four given months.


Apart from FMAN, the other regular option cycles are JAJO (January, April, July and October), and MJSD (March, June, September and December). FMAN does get the prize, however, for sounding more like a sitcom character than anything else.

  1. JAJO

    An acronym that represents the months of January, April, July ...
  2. Expiration Date (Derivatives)

    The last day that an options or futures contract is valid. When ...
  3. Nearby Month

    In the context of options and futures, the month closest to delivery ...
  4. MJSD

    An acronym that represents the months March, June, September ...
  5. Option Cycle

    The expiration dates that apply to the different series of options. ...
  6. Put-Call Parity

    A principle that defines the relationship between the price of ...
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  1. Can mutual funds invest in options and futures?

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  2. How does a forward contract differ from a call option?

    Forward contracts and call options are different financial instruments that allow two parties to purchase or sell assets ... Read Full Answer >>
  3. What are common delta hedging strategies?

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  4. How do I determine the breakeven point for a short put?

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  5. What options strategies are best suited for investing in the retail sector?

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