Automatic Options Listing

Strike Classification & Listing Rules

Strikes are dynamically classified into three moneyness ranges based on the call delta:

• ATM (At-the-Money): Call Delta between 0.40 and 0.60

• Outer: Call Delta between 0.20 and 0.40 or between 0.60 and 0.80

• Wings: Call Delta below 0.20 or above 0.80

Automatic Listing is triggered for strikes with Call Delta between 0.01 and 0.99. Each moneyness range follows specific strike step sizes depending on the underlying asset:

ATM	$500	$50	$5	$1
Outer	$1,000	$100	$10	$2
Wings	$5,000	$500	$50	$10

Options are automatically listed every 8 hours, at: 00:00 UTC, 08:00 UTC, and 16:00 UTC