Available Small Exchange Options on Futures

The Small Exchange ("Smalls") was designed for retail traders without the complicated symbol codes, trading hours, different tick sizes, and tick values. In other words, if you're a seasoned options trader, then you'll find the uniformity of the Smalls a welcome change and a breath of fresh air to futures trading. You can view all available Small Exchange products by referring to the Futures: Small Exchange preset watchlist in the tastyworks platform. Below, we have a broad overview of the Smalls, but you can directly visit The Small Exchange by clicking here.

To sign up for a Small Exchange Community Membership, please go to thesmallexchange.com. For membership inquiries or questions about your membership, please write to support@thesmallexchange.com. Or, if you are already a Small Exchange community member, please click here for linking instructions.

Symbol Index Subscriber Exch. Fees + Clearing + NFA 
Non-Subscriber Exch. Fees + Clearing + NFA    
Tick Size
Tick Value
Full Point Value
Tradable Months
/SPRESmall Precious Metals Index$0.16$0.24$0.01$1.00$100Up to 2 consecutive months
/SFXSmall US Dollar$0.16$0.24$0.01$1.00$100Up to 2 consecutive months

Contract Definitions


  • American Style: The long holder can exercise ITM options, or submit do-not-exercise requests (if contrary exercise is allowed) at any time up until the expiration
  • Contrary Exercise: Allows small future options holders to exercise OTM options, and DNE ITM option before expiration

Commissions and Fees for the Smalls Options

Smalls Options Commissions

$0.50 per smalls contract to open
$0.00 per smalls contract to close
Or, $0.50 per smalls contract, round-trip

Smalls Exchange Fees

Non-member: $0.15 per smalls contract, or $0.30 round-trip
Member: $0.07 per smalls contract, or $0.14 round-trip


National Futures Association Fee: $0.02 per side or $0.04 round-trip

FCM Clearing Fee

$0.05 per smalls contract, or $0.10 round-trip. This passthrough fee covers expenses related to clearing trades assessed by our Futures Commissions Merchant (FCM).

OCC Clearing Fee

$0.02 per smalls contract, or $0.04 round trip. This passthrough fee covers expenses related to clearing trades at the exchange by the Options Clearing Corp (OCC).

Exercise and Assignment Fees

Any Small Exchange options contract that is exercised/assigned will garner a $0.17 exchange fee, and will also be subject to the same per contract costs surrounding an opening/closing outright transaction. The total fee will vary if you are a Small Exchange community member or not.