Cboe Unleashes More Strike Prices for Mini Bitcoin Options Trading
Published Date: 12/18/2025
Notice
Summary
Cboe Exchange is making it easier to trade options on the Mini Bitcoin U.S. ETF Index and the Magnificent 10 Index by allowing strike prices to change in smaller steps—down to $1 intervals. This change helps traders get more precise pricing and starts right away, making the market more flexible and user-friendly. If you trade these options, expect smoother and more detailed price choices from now on!
Analyzed Economic Effects
4 provisions identified: 4 benefits, 0 costs, 0 mixed.
Standard $1 Strike Intervals Allowed
If you trade options on the Cboe Mini Bitcoin U.S. ETF Index (MBTX) or the Cboe Magnificent 10 Index (MGTN), the Exchange may list standard strike prices in $1 steps (the lowest standard strike interval is $1). This change applies to new and additional series and lets traders choose strikes closer to the index value.
Wider Strike Price Ranges Permitted
The Exchange may list strikes up to 100% above or below the current index value if the index is less than or equal to 20, and up to 50% above or below if the index is greater than 20. This replaces the usual 30% 'reasonably related' range for index options for these classes.
$0.50 Intervals for Nonstandard/QIX
For MBTX and MGTN option series with Nonstandard Expirations and for QIX series, the Exchange may list strike prices in $0.50 steps. The $0.50 interval for MGTN series will apply only if a separate filing allowing MGTN to be listed with Nonstandard expirations is approved.
Change Is Immediately Operative
The Commission waived the usual 30-day delay, and the Exchange's rule change became operative upon filing. The Exchange filed the proposed change on December 3, 2025, so the more granular strikes and range rules are effective as of that filing.
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