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. Option Cycle

    The expiration dates that apply to the different series of options. ...
  2. MJSD

    An acronym that represents the months March, June, September ...
  3. Nearby Month

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

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

    The last day that an options or futures contract is valid. When ...
  6. Crude Oil

    Crude oil is a naturally occurring, unrefined petroleum product ...
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    With the growth in the size and number of hedge funds over the past decade, the interest in how these funds go about generating ... Read Full Answer >>
  2. Can mutual funds invest in options and futures?

    Mutual funds invest in not only stocks and fixed-income securities but also options and futures. There exists a separate ... Read Full Answer >>
  3. 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 >>
  4. What are common delta hedging strategies?

    The term delta refers to the change in price of an underlying stock or exchange-traded fund (ETF) as compared to the corresponding ... Read Full Answer >>
  5. How do I determine the breakeven point for a short put?

    The breakeven point for a short put is the strike price of the option minus the premium. Selling puts is a way for traders ... Read Full Answer >>
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