I complained some YEARS ago that the 50 cent trigger was a joke and a scam. It was defended by the usual apologists. Not sure why the radical change this time , maybe they want fewer surprises on Monday morning. No more free 20 cent gains for short option holders. Then again , maybe they will game this nickle to get option holders to eat stock, at the last minute. =-=-=-=-=-=-=-=-=-=-=-=-=-=-- Beginning October 2006, the Options Clearing Corporation (OCC) will implement a change to reduce the automatic exercise threshold for equity options. The current threshold of $0.25 will be set at $0.05 for expiring options that are automatically exercised by the OCC. The threshold for index options will remain at $0.01. This means that if you had an options position in company ABC and the underlying stock closed at least 5 cents above or below the strike price of your option (depending on if it is a call or put) on the Friday before expiration, your contracts would automatically exercise. The resulting stock position from the exercise would appear in your account the following Monday.