Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

Do options always expire on third Friday of every month
Traditionally options expired on the 3rd Wednesday of the months of Mar, Jun, Sep, Dec as this day was never a holiday. See IMM dates. However as option use exploded there were monthly and weekly options created on different schedules. The exchange will specify when its options expire in the contract.