Regulatory Alert
MIAX Options
October 03, 2019 | 01:28 PM
Enhancements for Delta Neutral Trading in SPIKES Options, Including 8:1 Ratios
MIAX Options has amended Exchange Rule 518, Complex Orders, to state a SPIKES Combo Order may not have a ratio greater than eight contracts in the largest option component to one SPIKES Combination (8:1), which is an increase from the current ratio of 3:1.
In addition, MIAX Options has added definitions to Interpretation and Policy .07 of Rule 518 to codify and further facilitate delta neutral trading hedging for SPIKES options.
The changes to Exchange Rule 518 will be implemented on October 8, 2019.
Please refer to MIAX Options Regulatory Circular 2019-57 for further details.
This enhancement is currently available in MIAX Firm Test Beds #1 and #2 (FTB1 and FTB2). Please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302 with any questions concerning complex orders or SPIKES options.
Regulatory inquiries should be directed to Regulatory@miaxoptions.com or (609) 897-7309.