CBOE And C2 Plan To Launch Mini-Options On March 18 For AAPL, AMZN, GOOG, GLD
CHICAGO, March 5, 2013
CHICAGO, March 5, 2013 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE)
announced today that Chicago Board Options Exchange, Incorporated (CBOE) and
C2 Options Exchange (C2) plan to launch trading in "mini-options" that are
one-tenth the size of standard options on five popular stocks and exchange
traded funds (ETFs). Mini-options on Apple (AAPL), Amazon (AMZN), Google
(GOOG), the SPDR Gold Trust ETF (GLD), and the SPDR S&P 500 ETF Trust (SPY)
will begin trading on Monday, March 18.
"Many retail customers hold less than 100 shares of these higher-priced stocks
in their portfolios," CBOE Chairman and CEO William J. Brodsky said. "We're
excited to begin offering mini-options, which will give investors the ability
to hedge their positions and trade options on these stocks more economically
than with standard-sized options."
Mini-options contracts feature specifications identical to those of
standard-sized options contracts on the above securities, except:
oMini-options contracts represent 10 shares of the underlying security
versus 100 shares for standard-sized options contracts; and
oMini-options contracts trade under a different trading symbol than
standard-sized options contracts. Mini-options carry the number "7" at the
end of the security symbol. For example, the Apple mini-options symbol is
In addition to standard monthly expiration dates, non-standard expiration
dates (i.e., Weeklys options series, Quarterlys option series and LEAPS) will
be eligible for mini-options trading. Plans also call for minimum price
movements to be the same in both standard-sized options and mini-options,
pending regulatory approval.
The following Designated Primary Market Makers (DPMs) have been appointed for
mini-options for CBOE (C2):
oAAPL -- Morgan Stanley & Co. LLC (C2: Wolverine Trading, LLC)
oAMZN – Merrill Lynch Professional Clearing Corp. (C2: Timber Hill, LLC)
oGOOG – Susquehanna Securities (C2: Timber Hill, LLC)
oGLD -- Citadel Securities, LLC
oSPY-- Wolverine Trading, LLC
C2 did not appoint DPMs for GLD and SPY mini-options. At C2, DPMs are
appointed only in equity classes that are part of the options Penny Pilot
For more information on mini-options, see www.cboe.com/mini, Regulatory
Circular RG13-037 www.cboe.com/aboutCBOE/legal/crclReg.aspx and Regulatory
Circular C2-RG13-014 at www.c2exchange.com/Legal/RegulatoryCirculars.aspx.
About CBOE Holdings
CBOE Holdings, Inc. (NASDAQ: CBOE) is the holding company for Chicago Board
Options Exchange (CBOE), the CBOE Futures Exchange (CFE) and other
subsidiaries. CBOE, the largest U.S. options exchange and creator of listed
options, continues to set the bar for options and volatility trading through
product innovation, trading technology and investor education. CBOE Holdings
offers equity, index and ETP options, including proprietary products, such as
S&P 500 options (SPX), the most active U.S. index option, and options and
futures on the CBOE Volatility Index (the VIX Index). Other products
engineered by CBOE include equity options, security index options, LEAPS
options, FLEX options, and benchmark products such as the CBOE S&P 500
BuyWrite Index (BXM). CBOE Holdings is home to the world-renowned Options
Institute and www.cboe.com, the go-to place for options and volatility trading
resources. CBOE is regulated by the Securities and Exchange Commission (SEC),
with all trades cleared by the OCC.
CBOE^®, Chicago Board Options Exchange^®, Flexible Exchange^®, FLEX^®,
LEAPS^®, CBOE Volatility Index^® and VIX^® are registered trademarks, and
BuyWrite(SM), BXM(SM), SPX(SM), and The Options Institute are service marks of
Chicago Board Options Exchange, Incorporated (CBOE). Standard & Poor's^®,
S&P^® and S&P 500^® are registered trademarks of Standard & Poor's Financial
Services, LLC and have been licensed for use by CBOE. All other trademarks
and service marks are the property of their respective owners.
SOURCE CBOE Holdings, Inc.
Contact: Media, Gail Osten, +1-312-786-7123, email@example.com, or Gary Compton,
+1-312-786-7612, firstname.lastname@example.org, or Analyst Contact, Debbie Koopman,
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