Investors in Direxion Shares ETF Trust - Daily S&P 500 Bear 3X Shares (SPXS) saw new options begin trading today, for the January 2024 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 858 days until expiration the newly trading contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration..