Delay in Opening For SPX Options on 3/18/20
March 18, 2020 09:17:25
Consistent with a prior Exchange Notice, Cboe has determined to delay the opening of SPX options due to extraordinary market conditions. The target opening time for SPX options is 09:45 ET, which time may be further adjusted and announced by subsequent Exchange Notice due to market conditions. The opening for SPXW options is not delayed and will commence one second after receipt of the initial SPX index value, which normally occurs at 9:30 a.m. ET.
The new system “cutoff time” for SPX is 09:35 ET. The cutoff time is the time after which only SLOOs and appointed Market-Maker quotes are accepted. All other quotes/orders, including variance replication orders may be entered, cancelled or modified until the cutoff time. SLOOs entered prior to the reset of the opening time may be cancelled anytime but may not be modified until after the new cutoff time.
The Exchange may update the high call/low put strike range used in the SOQ calculation until five minutes prior to the new system cutoff time.
Cboe Trade Desk