Investors in The Materials Select Sector SPDR Fund (XLRE) saw new options begin trading this week, for the August 2025 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 238 days until expiration the newly trading contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration..