Options on Futures Limit Order Price Reasonability Checks
Options on Futures simple and spread limit orders and quotes are subject to Exchange defined limit order price reasonability checks based on the order/quote limit price and the percentage through the contra side best bid or offer (BBO) or the contra side spread best bid or offer (SBBO). Any order or quote priced through the contra side BBO or SBBO by more than or equal to the percentage indicated in the table below will be rejected.
Note that Options on Futures Price Reasonability Checks are applied uniformly for all products.
| Order Limit Price | Price Reasonability Percentage |
|---|---|
| $0.00 - $0.50 | 400% |
| $0.51 - $1.99 | 35% |
| $2.00 - $5.00 | 20% |
| $5.01 - $10.00 | 15% |
| $10.01 - $20.00 | 10% |
| $20.01 - $50.00 | 6% |
| $50.01 - $100.00 | 4% |
| $100.01 + | 4% |