Non-standard option

What does it mean when an option is designated as non-standard?

 

The options are not "designed" as non-standard, options become non-standard, i.e. adjusted, when some corporate action takes place such as a merger, a takeover, a stock split or a special dividend.

 

Thank you. I assume that these can be looked up on the CBOE for the new terms.

 

Yes! You can find contract adjustments here. Just type in the stock ticker.