Exchange Fixes Monday Options When Earnings Drop Late
Published Date: 5/19/2026
Notice
Summary
MIAX Sapphire is updating its Short Term Option Series Program to clear up how Monday and Wednesday short-term options work when a company announces earnings after the market closes. This change helps traders understand option listings better and keeps things running smoothly. The update is effective immediately and mainly affects traders dealing with these special short-term options.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
How Listings Are Treated If Earnings Hit After Listing
If a Monday or Wednesday short-term expiration is already listed and an earnings announcement is made after the listing becomes available for trading, the Exchange will either delist that expiration if there is no open interest or mark the expiration as 'closing only' if there is open interest. That means you may not be able to open new positions for that expiration, though existing positions can be closed.
No Mon/Wed Short-Term Listings Before After-Hours Earnings
If a company scheduled an earnings announcement after the market close, the Exchange will not list a Monday or Wednesday short-term option expiration for that qualifying stock or ETF. This rule is now codified so traders know these Monday/Wednesday expirations will not be available when an after-hours earnings announcement is scheduled.
Very High Thresholds for Qualifying Securities
To be a 'Qualifying Security' for short-term Monday/Wednesday expirations, an individual stock must have market capitalization greater than $700,000,000,000 and an ETF must have assets under management greater than $50,000,000,000; additionally monthly options volume must be greater than 10,000,000 sides, position limits at least 250,000 contracts, and participation in the Penny Interval Program. These thresholds determine which securities may receive the short-term option listings.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222, Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651, Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-16781, Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of a Proposed Rule Change To Amend Sections 303A.00 and 303A.07 of the NYSE Listed Company Manual
The New York Stock Exchange (NYSE) is giving listed companies more time to set up their internal audit teams, which help keep an eye on risks and controls. This change affects all companies listed on the NYSE and aims to make the transition smoother without rushing. No new costs or deadlines are added yet, but companies should prepare for the updated timeline once it’s official.
2026-16784, Self-Regulatory Organizations; The Depository Trust Company; Order Approving Proposed Rule Change To Amend the Redemptions Service Guide and the Operational Arrangements (Necessary for Securities To Become and Remain Eligible for DTC Services)
Previous / Next Documents
Previous: 2026-09963, Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Short Term Option Series Program
Miami International Securities Exchange (MIAX) is updating its Short Term Option Series rules to clear up how Monday and Wednesday options work when a company announces earnings after the market closes. This change helps traders understand option expirations better and keeps things running smoothly. The update is effective immediately, so options traders should take note right away!
Next: 2026-09965, Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Modify the NYSE Arca Options Fee Schedule To Adopt Fees Applicable to Trading Options on MXWLD, MXACW, and MXUSA
Starting May 1, 2026, NYSE Arca is updating its options fee schedule to include new fees for trading options on three cool indexes: MSCI World (1/100), MSCI ACWI, and MSCI USA (1/100). Traders and investors dealing with these options will see these changes right away, making it clear how much it costs to trade these fresh products. This update helps keep fees fair and transparent as new options hit the market!