Self-Regulatory Organizations; MEMX LLC; Notice of Filing and Immediate Effectiveness of a Proposal To Amend the Short Term Option Series Program in Rule 19.5, Interpretation and Policy .05
Published Date: 2/2/2026
Notice
Summary
MEMX is updating its rules to let traders buy and sell options that expire on Mondays and Wednesdays for certain stocks and ETFs. This change means more chances to trade short-term options, giving investors extra flexibility and faster opportunities. The new rule kicks in right away, so traders can start using these new expiration days without delay.
Analyzed Economic Effects
6 provisions identified: 4 benefits, 2 costs, 0 mixed.
Two Monday & Wednesday Expirations Allowed
The Exchange may now permit up to two Monday expirations and up to two Wednesday expirations (in addition to Friday weekly expirations) for options on certain individual stocks and Fund Shares called "Qualifying Securities." This change is operative upon filing (January 28, 2026), so eligible options series with these new Monday and Wednesday expirations can begin trading immediately.
Immediate Operative Effect Upon Filing
The Commission waived the normal 30-day operative delay and designated the proposed rule change operative upon filing, so the change became effective on January 28, 2026 and may be used immediately by the Exchange and market participants.
Very High Eligibility Thresholds
To be a "Qualifying Security" for Monday and Wednesday expirations, an individual stock must have market capitalization greater than $700,000,000,000 (based on the closing price on the last day of the prior calendar quarter) or a Fund Share must have Assets Under Management (AUM) greater than $50,000,000,000 by NAV; additionally, monthly options volume (measured in sides) in the last month preceding the quarter end must exceed 10,000,000, the series must have a position limit of at least 250,000 contracts, and the class must participate in the Penny Interval Program. The Exchange will apply these criteria quarterly and publish the list of Qualifying Securities by close of business on the first trading day of the quarter.
No Expirations on Post-Close Earnings Days
The Exchange will not list a Monday or Wednesday expiry for a Qualifying Security on any day when there is an Earnings Announcement that takes place after market close; for this rule an Earnings Announcement is an official public quarterly or yearly earnings filing with the Commission (pre-announcements or guidance are not counted).
30-Series Cap Applies to New Expirations
For each option class, the Exchange remains limited to opening thirty (30) series for each expiration date; that thirty-series restriction will also apply to the new Monday and Wednesday Qualifying Securities expirations. The thirty-series cap does not include series that other exchanges have opened under their weekly rules.
Quarterly Removal If No Longer Eligible
If a Qualifying Security no longer meets the stated criteria, it will no longer be permitted to list Monday and Wednesday expiries beginning on the second trading day of the following quarter; however, any strikes already listed for the remaining two weeks may continue to trade until they expire.
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