Weekly Options

Weekly Options are another alternative to investing in options. They where introduced by the CBOE who began doing pilot programs with them. During 2009 interest surged for weekly options making them a more popular investment choice. Weekly options behave exactly like monthly options except they exist for only 8 days. Investors who have historically enjoyed 12 monthly expiration's - the third Friday of each month - now can enjoy 52 expiration's per year. Weekly options are good for premium sellers who like to take advantage of the rapidly accelerating time-decay curve in an option's final week of its life. Now they can get paid 52 times per year instead of 12. Weekly's offer the ability to make a very short-term bet on a particular news item or anticipated sudden price movement. With the weekly's, you only have to risk one week's worth of premium. This will potentially save you money if you are wrong, or give you a nice return if you are correct.There are also some potential downsides for Weekly Options which are the following:

1. Because of their short duration and rapid time decay, you rarely have time to repair a trade that has moved against you by either adjusting the strikes or just waiting for some kind of mean revision in the underlying security.
   
2. Although the open interest and volume are good, that is not necessarily true for every strike in the weekly series. Some strikes will have very wide spreads, and that is not good for short-term strategies.

Weekly´s are another investment tool which can be used and just like regular options it has it potential advantages and risks.



http://finance.yahoo.com/news/An-Introduction-To-Weekly-investopedia-879057541.html
http://www.youtube.com/watch?v=zmpOy_fimMk&feature=relmfu