Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of a Proposed Rule Change To Amend Rules 5.32-O and 5.35-O

ember 31, 2025). To calculate national average daily volume (provided in the table below), the Exchange summed the share volume of each trade for each symbol and divided that total by the number of trading days in the same six-month period. Based on these calculations, the Exchange identified 143 non- ETF securities eligible for cash settlement of FLEX options overlying them. As noted in the proposed amendment to Rule 5.32-O(f)(ii)(A), however, only the FLEX Equity Options overlying the non-ETF securities with the highest average daily notional value would be eligible for cash settlement. The table below identifies the 50 non-ETF FLEX Equity Options that would qualify for cash settlement under the Exchange's most recent review, effective February 2, 2026.\11\ The table also includes, for each symbol, closing auction average daily volume and closing auction average daily notional value over the same six-month period, which reflect the depth of trading activity specifically at the [[Page 41717]] close and thereby illustrate each symbol's resilience to potential price manipulation at the time of settlement. --------------------------------------------------------------------------- \11\ The Exchange notes that, if approved after August 3, 2026, the Exchange's list of eligible symbols may differ slightly from the table below, as a new semiannual review would be effective on that da