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Self-Regulatory Organizations; NYSE Amex LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Adding 75 Options Classes to the Penny Pilot Program

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Start Preamble Start Printed Page 26312 May 5, 2010.

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the “Act”)[1] , and Rule 19b-4 thereunder,[2] notice is hereby given that on April 28, 2010, NYSE Amex LLC (“NYSE Amex” or the “Exchange”) filed with the Securities and Exchange Commission (the “Commission”) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.

I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change

The Exchange proposes to identify the next 75 options classes to be added to the Penny Pilot Program for Options (“Penny Pilot” or “Pilot”) on May 3, 2010. There are no changes to the Rule text. A copy of this filing is available on the Exchange's Web site at, at the Exchange's principal office, at the Commission's Public Reference Room and on the Commission's Web site at

II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change

In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant parts of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change

1. Purpose

NYSE Amex proposes to identify the next 75 options classes to be added to the Penny Pilot effective May 3, 2010. The Exchange recently filed to extend and expand the Pilot through December 31, 2010.[3] In that filing, the Exchange had proposed expanding the Pilot on a quarterly basis to add the next 75 most actively traded multiply listed options classes based on national average daily volume for the six months prior to selection, closing under $200 per share on the Expiration Friday prior to expansion, except that the month immediately preceding their addition to the Penny Pilot will not be used for the purpose of the six month analysis.[4]

NYSE Amex proposes adding the following 75 options classes to the Penny Pilot on May 3, 2010, based on national average daily volume from October 1, 2009 through March 31, 2010:

Nat'l rankingSymbolSecurity nameNat'l rankingSymbolSecurity name
153XLVHealth Care Select Sector SPDR Fund.247JCPJC Penney Co Inc.
155CIENCiena Corp.248ACLAlcon Inc.
157AMLNAmylin Pharmaceuticals Inc.249STPSuntech Power Holdings Co Ltd.
158CTICCell Therapeutics Inc.250TLBTalbots Inc.
159MDTMedtronic Inc.251SYMCSymantec Corp.
162TIVOTiVo Inc.253AMEDAmedisys Inc.
163MNKDMannKind Corp.255TMToyota Motor Corp.
171MDVNMedivation Inc.257HKPetrohawk Energy Corp.
176BRKBBerkshire Hathaway Inc.258ENEREnergy Conversion Devices Inc.
178APOLApollo Group Inc.259STTState Street Corp.
181BSXBoston Scientific Corp.260BHPBHP Billiton Ltd.
185XLYConsumer Discretionary Sel. Sec. SPDR Fund.261NFLXNetFlix Inc.
188CLFCliffs Natural Resources Inc.262LDKLDK Solar Co Ltd.
190ZIONZions Bancorporation.263SPGSimon Property Group Inc.
194IOCInterOil Corp.264TIFTiffany & Co.
197ITMNInterMune Inc.265BUCYBucyrus International Inc.
204GMEGameStop Corp.266WAGWalgreen Co.
209XLKTechnology Select Sector SPDR Fund.268IPInternational Paper Co.
210AKSAK Steel Holding Corp.271XMESPDR S&P Metals & Mining ETF.
212GRMNGarmin Ltd.272KGCKinross Gold Corp.
213MRVLMarvell Technology Group Ltd.273EPEl Paso Corp.
215XLPConsumer Staples Select Sector SPDR Fund.274SEEDOrigin Agritech Ltd.
216UNPUnion Pacific Corp.275WINWindstream Corp.
220DTVDIRECTV.279DHIDR Horton Inc.
223WMBWilliams Cos Inc/The.280ADBEAdobe Systems Inc.
225MEEMassey Energy Co.281PCXPatriot Coal Corp.
227CELGCelgene Corp.282SPWRASunPower Corp.
229GMCRGreen Mountain Coffee Roasters Inc.284LCCUS Airways Group Inc.
231WDCWestern Digital Corp.285PRUPrudential Financial Inc.
234DALDelta Air Lines Inc.286LENLennar Corp.
235FXECurrencyShares Euro Trust.287EWTiShares MSCI Taiwan Index Fund.
Start Printed Page 26313
237COSTCostco Wholesale Corp.288KBHKB Home.
239MJNMead Johnson Nutrition Co.289CREECree Inc.
240ALLAllstate Corp/The.290SIRISirius XM Radio Inc.
241SIISmith International Inc.291MMRMcMoRan Exploration Co.
242RTNRaytheon Co.292CENXCentury Aluminum Co.
243DVNDevon Energy Corp.293GFIGold Fields Ltd.

2. Statutory Basis

The Exchange believes that the proposed rule change is consistent with and furthers the objectives of Section 6(b)(5) of the Act, in that it is designed to promote just and equitable principles of trade, remove impediments to and perfect the mechanisms of a free and open market and a national market system and, in general, to protect investors and the public interest, by identifying the options classes to be added to the Pilot in a manner consistent with prior approvals and filings.

B. Self-Regulatory Organization's Statement on Burden on Competition

The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act.

C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others

No written comments were solicited or received with respect to the proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action

The proposed rule change is effective upon filing pursuant to Section 19(b)(3)(A)(i) of the Exchange Act [5] and Rule 19b-4(f)(1) thereunder,[6] in that it constitutes a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule of the Exchange. At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate the rule change if it appears to the Commission that the action is necessary or appropriate in the public interest, for the protection of investors, or would otherwise further the purposes of the Act.

IV. Solicitation of Comments

Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods:

Electronic Comments

Paper Comments

  • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington DC 20549-1090.

All submissions should refer to File Number SR-NYSEAmex-2010-42. This file number should be included on the subject line if e-mail is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (​rules/​sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at NYSE Amex's principal office and on its Web site at All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File No. SR-NYSEAmex-2010-42 and should be submitted on or before June 1, 2010.

Start Signature

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.[7]

Florence E. Harmon,

Deputy Secretary.

End Signature End Preamble


3.  See Exchange Act Release No. 61106 (December 3, 2009) FR 74-65193 (December 9, 2009) (order approving SR-NYSE Amex 2009-74). The Commission notes that this proposed rule change was submitted pursuant to Section 19(b)(3)(A)(iii) of the Act and was, therefore, effective upon filing. The Commission does not approve proposed rule changes submitted pursuant to this section of the Act.

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4.  Index products would be included in the expansion if the underlying index level was under 200.

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5.  15 U.S.C. 78s(b)(3)(A)(i).

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[FR Doc. 2010-11134 Filed 5-10-10; 8:45 am]