Equity Option Price Increments

Are you trying to enter a single-leg option order, but it doesn't appear as the best bid or ask price? Then chances are you're entering an incorrect price increment. Try a nickel or dime increment if you're entering a price in a penny increment and the quote is not displaying. Generally, most single options trade in either nickel ($0.05) or dime ($0.10) increments, depending on the price.  Below we'll go over how you can spot whether a single option trades in a specific increment.

Nickel and Dime Increments Options

Increments depend on the price

Options PriceIncrement
Below $3$0.05
Above $3$0.10

Penny Pilot Program Pricing Increments

Not all options trade in penny increments

Currently, a handful of symbols trade in penny ($0.01) or nickel ($0.05) increments, depending on the price.

Options PriceIncrement
Below $3$0.01
Above $3$0.05

There is ONE exception. ETFs such as SPY, QQQ, and IWM all trade in penny ($0.01) increments, regardless of price. 

Lastly, if you’re wondering about option price increments for cash-settled index options, such as SPX, then please click here.