Cboe Options Exchanges Restrictions on Transactions in Options on Nikola Corporation - Effective February 25, 2025 - NKLA/NKLA1

Oct 22, 2026

Uploaded by Margaret

Cboe Options exchange notice sets out restrictions on trading options related to Nikola Corporation (Option symbols NKLA/NKLA1) after the company is delisted from NASDAQ and moved to the Other-OTC Market under symbol NKLAQ. Effective February 25, 2025, trading on Cboe Options (C1) Exchange in NKLAQ and adjusted NKLA1 options beginning February 26, 2025 will be subject to Cboe Options Rule 4.4. In existing series, only closing buy or sell transactions may be impacted; opening transactions are prohibited except specified Market-Maker and cross facilitation by Trading Permit Holder organizations, with potential violations leading to discipline or nullification.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages1

Reading Time3 min

AccessFree to download

Overview

Applicable Cboe Exchange and Effective Date

Trading Restrictions

Closing Transactions vs. Prohibited Opening Transactions

Additional Information

Contact Points

Cboe Options Exchanges Restrictions on Transactions in Options on Nikola Corporation (Option Symbol NKLA/NKLA1) Reference ID: C2025022501 OVERVIEW Applicable Cboe Exchange: Cboe Options Effective February 25, 2025 , Nikola Corporation, NKLA will be delisted from the NASDAQ and will move its listing to the Other-OTC Market under symbol NKLAQ. Therefore, trading on Cboe Options (C1) Exchange in NKLAQ and adjusted NKLA1 options commencing on February 26 , 2025 , will be subject to certain restrictions described below. Trading on C1 in existing series of NKLAQ/NKLA1 options will be subject to the following restrictions pursuant to Cboe Options Rule 4.4 : • Except as noted below, only closing purchase or sale transactions may be impacted in any of the options series. • Opening purchase or sale transactions are prohibited in any of the options series, except for (i) opening transactions by Cboe Options Market-Makers executed to accommodate closing transactions of other market participants; and (ii) opening transactions by Trading Permit Holder organizations to facilitate the closing transactions of public customers executed as crosses in open outcry pursuant to and in accordance with Cboe Options Rule 5 .87(d) and (f) . Trading Permit Holders should ensure that they have appropriate procedures in place to prevent the entry of opening orders in the restricted options series. The execution of opening transactions, except as otherwise permitted, and/or the misrepresentation as to whether an order is opening or closing, will constitute a violation of Cboe Options Rules, and/or may result in disciplinary action. In addition, transactions in contravention of these restrictions may be subject to nullification pursuant to Cboe Options Rule 6.5.03. ADDITIONAL INFORMATION Please contact the Cboe Operations Support Center or Cboe Regulatory Interpretations for support or with any questions. We appreciate your business. Our trading community inspires and drives our purpose of building trusted markets. Operations Support Center [312.786.7950 |](312.786.7950 | marketservices@cboe.com)[ ](312.786.7950 | marketservices@cboe.com)[marketservices@cboe.com](312.786.7950 | marketservices@cboe.com) Cboe Regulatory Interpretations [312.786.8141 |](312.786.8141 | reginterps@cboe.com)[ ](312.786.8141 | reginterps@cboe.com)[reginterps@cboe.com](312.786.8141 | reginterps@cboe.com) THE EXCHANGE FOR THE WORLD STAGE TM

FAQs

What triggers the trading restrictions for Nikola Corporation options on Cboe?

Nikola Corporation (NKLA) is delisted from NASDAQ and moves its listing to the Other-OTC Market under symbol NKLAQ, causing Cboe trading in NKLAQ and adjusted NKLA1 options to be governed by specified restrictions.

What types of transactions are allowed in existing NKLAQ/NKLA1 option series?

Except as noted, only closing purchase or sale transactions may be impacted. Opening purchase or sale transactions are generally prohibited in any of the option series.

Are there exceptions to the prohibition on opening transactions?

Yes. Opening transactions are permitted for (i) Cboe Options Market-Makers executing openings to accommodate closing transactions of other participants, and (ii) Trading Permit Holder organizations executing opening transactions to facilitate closing transactions of public customers as crosses, in accordance with the cited Cboe Rules.

Oct 22, 2026

Uploaded by Margaret