U.S. Options

Price protection prevents an order from being executed beyond the price designated in the order’s price protection instructions. Market participants may designate price protection instructions on an order-by-order basis within a minimum and maximum number of MPVs, from 0-20, away from the NBBO at the time of receipt, or the SBBO if the ABBO is crossing the SBBO, or the Opening Price for New Opening Orders.
 
If an order does not contain price protection instructions, the Exchange will assign a default price protection instruction of five (5) MPVs.
 
Please refer to MIAX Sapphire Options RC 2024-15 for further information.
 
For information on the MIAX Sapphire Options price protections, please contact Trading Operations at TradingOperations@miaxglobal.com or call (609) 897-7302.
 
Please direct questions to the Regulatory Department at Regulatory@miaxglobal.com or (609) 897-7309.