Options related to equities and indexes are quoted in increments of $0.05 for option series with a premium below $3, and $0.10 for all option series with a premium of $3 and above.

Exceptions are those options whereby the related security or index is in the Penny Pilot Program.

The Penny Interval Program allows options for some related stocks and indexes to trade in increments of $0.01.

The minimum increments for all classes in the Penny Pilot (except for QQQ, IWM and SPY) are based on price.

Option series with a price below $3, the minimum increment is $0.01.

Option series with a price at $3 and above, the minimum increment is $0.05.

The minimum increment for all option series in QQQ, IWM and SPY is $0.01.