U.S. Options

As previously announced in our June 29, 2020 Alert, following the expiration of the Penny Pilot Program on Tuesday, June 30, 2020, the MIAX Options Exchange, MIAX PEARL Options Exchange and MIAX Emerald Options Exchange will implement the Penny Interval Program effective for trading Wednesday, July 1, 2020.  Please note: Chesapeake Energy Corp. (CHK) has been removed from the list of Penny Interval Options and ZScaler, Inc. (ZS) has been added to the list. 

As part of the MIAX Exchange Groups' Penny Interval Program, select options will trade in $0.01 increments when priced below $3.00.  Options priced at $3.00 and above will trade in $0.05 increments.  IWM, QQQ, and SPY will continue to be $0.01, regardless of price.

Please refer to the attached list:

• The first tab includes all option classes that will be included in the MIAX Exchange Groups' Penny Interval Program at the start of trading on Wednesday, July 1, 2020
• The second tab includes the Penny Pilot issues that will be removed from the penny program at the expiration of the Penny Pilot Program.  These issues will no longer trade in penny increments after the close of business on Tuesday, June 30, 2020 and all Simple GTC orders in those classes on the MIAX order books will be cancelled.  GTCs in Complex Orders for symbols moving out of the penny program will remain on the MIAX Options and MIAX Emerald order books.