If you see a single-stock option trade with a timestamp after 4:15pm EST, it is almost always a late print — the trade was executed during the regular session but the confirmation or report was delayed and printed after hours.

What is a late print?

A late print is a trade that was agreed upon and filled during normal market hours but is officially reported to the tape after the session ends. This is common in options markets due to processing and reporting delays between execution, clearing, and tape submission. The trade itself is valid and occurred during regular hours — only the timestamp is misleading.

How to identify a late print

Most data providers and brokerages flag these trades. Look for:

• A ".Z" or "late" condition code on the print in your data feed or broker platform
• A trade price that matches levels from earlier in the session rather than any after-hours quote

Single-stock options vs. index options after hours

Single-stock options (e.g. AAPL, TSLA) stop trading at 4:00pm EST when the cash session ends. They do not trade during after-hours or extended hours.

Options on certain index products — including SPX, SPY, QQQ, IWM, and DIA — continue trading until 4:15pm EST. Any post-4pm activity you see on those products is legitimate extended trading, not a late print.

If a single-stock option shows a timestamp past 4:00pm, a late print is by far the most likely explanation.