Each contract is identified by its expiration date, but organized into these three categories. Today, March 9th, we have 2 days until Friday, March 11th, which is settlement. This is the "weekly" contract. The Biweekly (next week) contract expires March 18th. So on March 11th it will become the weekly, and the March 25th contract is becoming biweekly. The quarterly contract is the one that expires March 25th. So when that becomes biweekly, a new quarterly contract is issued which will expire June 24th. Usually all the other times on Friday, a new biweekly contract is issued, and the quarterly stays alive for 2.5 months.
Once the new contract is issued, because the expiration is 3 months away in end of June, the premium over the index that it trades at will be much higher than it is now.
If we assume it is like CryptoFacilities who also has a June 24 contract:
If you like the liquidity on OKCoin and want to play the longer timeframes, enjoy the fresh premium which will offer many opportunities.