- MIAX amended rule 307 on position limits, as well as rule 309 exercise limits.
- PHLX amended section (A) of exchange rule 1001, relating to position limits.
- Increase position, exercise limits in options, on range exchange traded funds.
- For options on the following ETFs: FXI, EEM, IWM, EFA, EWZ, TLT, QQQ, EWJ.
- Said trade activity has been adversely impacted by the current position limits.
- Limits have caused option trading in symbols to move from exchanges to OTC.
- Are based on outstanding shares and trade volume of underlying stock or ETF.
- Largest capitalized and most frequently traded had limit of 250,000 contracts.
- Amendment would double the position and exercise limits, for stated symbols.
- Such options to no longer be subject to standard position and exercise limits.
- SEC approved rule, comment 21 days after publication in the federal register.