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Product LoginFriday, January 23, 2015
Options Trader Alert #2015 - 3
PHLX Announces Semi-Annual Position Limits Review for the PHLX Index Options
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Nasdaq has conducted the semi-annual review for PHLX Index Options, pursuant to PHLX Rule 1001A. The results are as follows:
** - The position limit increase for the PHLX Gold/Silver Sector (XAU) will become effective immediately. *** - The position limit decrease for the PHLX Housing Sector (HGX) and PHLX Oil Service Sector (OSX), will become effective on Monday, September 21, 2015. Pursuant to Rule 1001A – Position Limits, options contracts on narrow-based indexes shall be subject to certain position limits. The Exchange shall make the determinations with respect to options on each industry index at the commencement of trading of such options on the Exchange and thereafter review the determination semi-annually on January 1 and July 1. If the Exchange determines, at the time of a semi-annual review, that the position limit in effect with respect to options on a particular industry index is lower than the maximum position limit, the Exchange may effect an appropriate position limit increase immediately. If the Exchange determines, at the time of a semi-annual review, that the position limit in effect with respect to options on a particular industry index exceeds the maximum position limit, the Exchange shall reduce the position limit applicable to such options to a level consistent with such criteria. Such a reduction shall not become effective until after the expiration date of the most distantly expiring option series relating to such particular industry index, which is open for trading on the date of the review. Such a reduction shall not become effective if the Exchange determines, at the next succeeding semi-annual review.
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