Option Penny Pilot Launch page

The penny pilot program allows some stocks and indexes to trade their related options in increments of $0.01. The minimum increments for all classes in the Penny Pilot (except for QQQQ, IWM and SPY) are: $0.01 for all option series with a premium below $3 (including LEAPS), and $0.05 for all option series with a premium of $3 and above (including LEAPS). The minimum increment for all option series in QQQQ, IWM and SPY is $.01.

For more information on stocks and indexes included in the penny pilot, visit: The International Securities Exchange.

Option Penny Pilot Program

The penny pilot program allows some stocks and indexes to trade their related options in increments of $0.01. The minimum increments for all classes in the Penny Pilot (except for QQQQ, IWM and SPY) are: $0.01 for all option series with a premium below $3 (including LEAPS), and $0.05 for all option series with a premium of $3 and above (including LEAPS). The minimum increment for all option series in QQQQ, IWM and SPY is $.01. For more information on stocks and indexes included in the penny pilot, visit: The International Securities Exchange.

Option Penny Pilot Program