Option Penny Pilot Program. The minimum increments for all classes in the Penny Pilot (except for the QQQQs, IWM and SPY) are: $0.01 for all options series below $3 (including LEAPS), and $0.05 for all option series $3 and above (including LEAPS). The minimum increment for all option series in QQQQ, IWM and SPY is $0.01.

• $0.01 for all option series below $3 (including LEAPS)
• $0.05 for all option series $3 and above (including LEAPS)

Go To https://www.cboe.org/hybrid/pennypilot.aspx

Click here for a .CSV file of Penny Pilot classes and listing issues.

Available Weeklys Options

Go To http://www.cboe.com/micro/weeklys/availableweeklys.aspx

Click here for a Weeklys Options listing issues.

We believe that investors would like to see strike price for option increments narrow, just like the spreads. "The retail clients are interested in trading options at or near the money," The implication of these desires is that the options industry is not out of the woods yet. CBOE also has 160,000+ strike prices now and is looking at increasing the book depth available to investors.

The increments between strike prices will vary depending on current stock price.

• Stock prices below $25 have options prices that are in $2.50 strike price increments.
• Stock prices above $25 are in $5.00 strike price increments.

Strike prices stay at $5.00 increments all the way up to $200, when they become $10 increments. Some very liquid and/or lower priced stocks have strike prices in $1.00 increments, as do many ETF's (Exchange Traded Fund) such as the QQQQ.