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Product LoginWednesday, March 31, 2021
Options Trader Alert #2021 - 18
Changes to Penny Interval Program Symbols
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Effective Thursday, April 1, 2021, as previously announced here all Nasdaq options exchanges will be removing certain issues from the Penny Interval Program. The full list of all issues reverting to Nickel/Dime quoting can be found here. Program Details The Nasdaq options exchanges adopted the Program on July 1, 2020. The Program includes provisions for rebalancing to reflect changes in trading activity since it was adopted, and provides the guidelines for issues’ removal from the Program which are: • “Except as provided below, based on the Annual Review, any option class in the Penny Program that falls outside the 425 most actively traded multiply listed option classes will be removed from the Penny Program on the first trading day of April.” Any option class added during the year because of activity following initial listing will remain in the Program for one full calendar year. Any series in an option class participating in the Program in which the underlying security has been delisted, or are identified by OCC as ineligible for opening customer transactions, will continue to quote pursuant to the terms of the Program until all such options have expired. Nasdaq Exchanges will cancel resting GTCs for any classes removed from the Penny Interval Program after the close of business day prior to the class being removed from the Program. |
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