Take the 2-minute tour ×  Have the exchanges disclosed their
criteria?  Does anyone have a best guess based upon observations
of volume (however you wish to define it)?  Please no
qualitative answers.  share|improve this question add comment  2
Answers  You are referring to the Penny Pilot Program. Only
options whose premiums are quoted at a price less than \$3 may
be eligible for penny increments, except for IWM, QQQ, and SPY,
which are always quoted in pennies.  The list of permitted
classes doesn't seem to come from specific volume criteria.
Instead, the SEC and the exchanges together roll-out names in
phases.  CBOE's proposal for mini-options gives some additional
insight:  There is a price test for entry into the Penny Pilot
Program which excludes “high premium” classes, which are defined
as classes priced at $200 per share or higher at the time of
selection.  This is why GOOG is not in the Penny Pilot Program,
for example.  The best bet is to use the list of eligible
classes from ISE or CBOE. Note that