MIAX Eases Position Limits for Box Spread Traders Immediately
Published Date: 2/23/2026
Notice
Summary
Miami International Securities Exchange (MIAX) just updated a rule to give special treatment to a trading strategy called a “box spread.” This means traders using box spreads won’t have to worry about certain position limits anymore, making it easier and more flexible to trade. The change took effect right away, so anyone trading options on MIAX can benefit now without extra costs or delays.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Box Spreads No Longer Have Limits
MIAX moved the “box spread” qualified hedge into the category that is fully exempt from position limits under Exchange Rule 307(d). That means Members trading a box spread on MIAX will not have a position limit for that strategy and would not have to unwind positions because of Exchange Rule 307(d).
MIAX Aligns Rules With Other Exchanges
MIAX changed its rule so box spreads are treated the same way as on NYSE American, NYSE Arca, and FINRA—fully exempt from position limits rather than limited to five times the standard limit. The Exchange applied a stricter standard before; with this change, MIAX members get parity with those other market venues.
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