Pending regulatory approval, NYSE Arca Options plans to launch mini-options contracts on SPDR® S&P 500® ETF (“SPY”), Apple, Inc. (AAPL), SPDR® Gold Trust (GLD), Google Inc. (GOOG), and Amazon.com Inc. (AMZN). These issues were selected because they are priced greater than $100 and are among the most actively traded issues with average daily volume (“ADV”) of at least 45,000 contracts over the previous three calendar months.
NYSE Arca Options is taking the concept of listing and trading parallel options products of reduced values and sizes on the same underlying security as are currently listed on key indices and applying it to other high priced underlying securities. This currently includes options on the S&P 500 Index (SPX) (XSP), Nasdaq 100 Index (NDX) (MNX) and Russell 2000 Index (RUT) (RMN). High priced underlying securities may have relatively expensive options, because a small percentage move in the share price can mean a large movement in the options in terms of absolute dollars.