Yes it is possible, you can do this via right licking the report and selecting the report option. In that window you should be able to modify Schedules via the button near the bottom of the window.
This might not be possible. This is what I came up with, but I'm thinking this will actually just end after 16 occurrences completely, not repeat every day but it may be worth a shot. Depending on what you're using this for you may want to consider just scheduling it to run every week day, and if it's a monitor then just set a downtime on the incident that is being used for that monitor outside of the hours you want to be alerted during.