Hello, Do you know Who decides what strike price is being offered? In regards to stock options. thank you
I emailed the OCC. "Thank you for contacting the OCC. The decision to add new strikes is made solely at the exchange level."
Somebody told me that you can ask your broker who will in turn ask the exchange to make more strikes available. I tried doing that with IB and they told me no so who knows. Maybe try reaching out to the exchange directly.
The CBOE used to allow you to ask them for new strikes directly, but as of about a year ago they now make you go through your broker to make the request. My broker has done this on my behalf and they have turned down every request we have made (SPX) New-Series-Requests.pdf (cboe.com)
What's interesting, is time and time again they are so horrible at it for HIGHLY volatile securities. Often you'll see items with the strikes not being able to keep up with the growth of the underlie. GME was just one of many examples lately...