Through several releases on March 17, the Securities and Exchange Commission approved or designated as immediately effective the substantially similar rule changes proposed by each of the following options exchanges (each, an Exchange) to expand its $1 strike price program (the Program) under which options may be listed at $1 strike price intervals: the International Securities Exchange, LLC; Chicago Board Options Exchange, Inc.; NYSE Arca, Inc.; NYSE Alternext US LLC; the NASDAQ Stock Market LLC (for its options market); NASDAQ OMX BX, Inc.; and NASDAQ OMX PHLX, Inc.  

The rules of each Exchange have been modified to allow the Exchange to select 55 individual stocks (up from 10 individual stocks) to be part of the Program. The price range for options to be listed under the Program has been expanded from the previous range of $3 to $50 to the range of $1 to $50 (though other existing restrictions on listing $1 strikes remain in effect). Each Exchange has also added a delisting policy, under which the Exchange will review, on a monthly basis, series listed under the Program with a strike price more than $5 from the current value of the underlying security and will delist certain series with no open interest in both the put and the call series.