Weekly VIX Options

According to the Bloomberg report CBOE will start trading weekly options on the VIX. I was very excited about the news until I found the details on CBOE website here:
  • The options will trade on CFE, not CBOE
  • The options are American-style, exercised into near-term futures
  • Expire on Fridays, not Wednesdays
I think these points create unnecessary complexity, and I doubt the contracts will attract significant volume. This is very unfortunate, as I think short-term VIX plays could provide really interesting trading opportunities if the weekly options were the same as regular ones in terms of exercise and trading platform.
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