http://www.iseoptions.com/legal/proposed_rule_changes.asp Just received an e-mail with the link listed above. See May 1 Cancellation Fees, and May 5 Professional Account Holders. Basically, the ISE will tighten its cancel fee. They will also remove a public traders' position at the front of the order book, if the trader is active in options trading. (Good luck buying an Intel option with 5000 professional lots ahead of you - if you do get it, you don't want it). Apparently, these rules can spread quickly from exchange to exchange. The only way to stop them is to comment to the SEC. Both rules contain the instructions on how to submit electronic comments to the SEC. (I've written a comment to the SEC, and seen many more. Try to write intelligently - one comment on an unrelated issue actually said a proposed rule "sucked". That will be ineffective). Comment if you can, and tell others to do so as well. If you find a way to trade that is profitable, the exchanges will simply try to change the rule book to confiscate your profits.