MEMX Opens Trading Options on Gold and Oil Trusts
Published Date: 1/16/2026
Notice
Summary
MEMX is updating its rules to let people buy and sell options on Commodity-Based Trust Shares, which are special investment funds tied to commodities like gold or oil. This change affects traders and investors by giving them new ways to trade starting right away, with no extra fees announced. It’s a smooth move to make trading more flexible and exciting on MEMX’s platform.
Analyzed Economic Effects
5 provisions identified: 3 benefits, 2 costs, 0 mixed.
MEMX Will List Options on Commodity Trusts
MEMX is now allowed to list and trade options on Commodity-Based Trust Shares (ETFs that represent interests in trusts holding commodities or a single crypto asset). This gives investors and traders another exchange-traded way to hedge or trade exposure to those Commodity-Based Trusts on MEMX.
$700M Crypto Supply Threshold
To qualify for options listing, a Commodity-Based Trust that holds a single crypto asset must have an underlying crypto asset whose total global supply multiplied by token price has an average daily market value of at least $700,000,000 over the last 12 months. The rule also requires that the crypto asset underlies a derivatives contract that trades on a market with which the Exchange has a comprehensive surveillance sharing agreement (directly or via ISG).
Options Will Follow Existing ETF Rules
Options on qualifying Commodity-Based Trust Shares will trade under the Exchange's existing ETF-options rules, including permitted expirations (weekly, monthly, quarterly, long-term 12–39 months), strike price intervals (e.g., $1 intervals where strike ≤ $200, $5 intervals where strike > $200), and minimum increments (e.g., $0.05 when price is below $3.00 and $0.10 when price is $3.00 or higher, with penny-interval program variations).
Position and Exercise Limits Apply
Options on Commodity-Based Trust Shares will be subject to the Exchange's position and exercise limits. For the largest and most frequently traded funds the limit is 250,000 contracts on the same side of the market; smaller funds have limits of 200,000, 75,000, 50,000, or 25,000 contracts, with adjustments for corporate actions.
Rule Became Operative Immediately
The Commission designated the proposed rule change to be operative upon filing (filed January 7, 2026), waiving the usual 30-day delay. That means MEMX may begin listing and trading qualifying options right away once listing criteria are met.
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