A "Top 120 Option" is defined as one of the 120 most actively traded equity options in terms of total number of contracts traded nationally for a specified month based on volume reflected by the Options Clearing Corp. (OCC).
In addition, options outside of the top 120 may be eligible for automatic execution on an issue-by-issue basis, subject to the approval of the PHLX Options Committee. Also, the automatic execution guaranteed size may be for a different number of contracts, on an issue-by-issue basis, than the automatic execution guaranteed size for public customer orders. This is also subject to approval from the PHLX Options Committee.
The Philadelphia Stock Exchange was founded in 1790. The PHLX trades nearly 2,200 stocks, 1,200 equity options, 14 sectors index options and currency options. For more information about the PHLX and its products, visit www.phlx.com.