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Product LoginFriday, May 15, 2020
Options Trader Alert #2020 - 12
Nasdaq Announces Changes to the Penny Pilot Program, Effective July 1, 2020
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Effective Wednesday, July 1, 2020, all Nasdaq options exchanges will implement the Penny Interval Program (the “Program”) on a permanent basis, in accordance with the recently approved OLPP amendment. The Program will replace the Penny Pilot Program (the “Pilot”) on the effective date. The Program will initially apply only to the 363 most actively traded multiply listed options classes as determined by the OCC during the six month period ending on April 2020 (the “Top 363”). To be eligible for the Top 363, an issue must either be in the Pilot OR the underlying security must be trading under $200 at the close of June expiration (June 19, 2020). An anticipated list of issues currently in the Pilot, but not among the Top 363, and that are being removed from the Program on July 1, 2020 can be found here. This list is subject to change. During the week of June 22, 2020, Nasdaq will publish a final list of the Top 363 issues being included and removed from the Program. For further information on the OLPP amendment relating to the Program’s listing requirements, please refer to the Commission’s approval order found at: https://www.sec.gov/rules/sro/nms/2020/34-88532.pdf. In addition, OCC’s rolling six month report can be found at: https://www.theocc.com/webapps/penny-program. |
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