2024-25145. Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Amend Its Rules Regarding the Types of Complex Orders Available for Flexible Exchange Options (“FLEX”) Trading at the Exchange

Instrument ID	Legs	Symbol	Side	Ratio	Expiration	Strike	Type
CI0001	Leg 1	XYZ	Buy	1	December	10	Call.
	Leg 2	1XYZ	Sell	1	November	10.01	Call.

FLEX Order Auction (“FOA”): Buy 10 CI0001 @1.25.

Leg 1 (Non-FLEX Option Leg) Price:

N/A

Leg 1 Market: (Exchange Market-Maker) 2.20 × 2.30 (Exchange Market-Maker)

Leg 2 (FLEX Option Leg) Price: 1.00

Response 1: Sell 5 @1.19

Response 2: Sell 5 @1.25

FOA trades 5 with Response 1 at 1.19. The legs print at 2.20 and 1.01.

FOA trades 5 with Response 2 at 1.25. The legs print at 2.25 and 1.00.

Example 2: Listed (i.e., Non-FLEX) legs are adjusted up/down to their NBBO first, FLEX Option leg retains specified price, as no further adjustment is needed to meet net price.

Instrument ID	Legs	Symbol	Side	Ratio	Expiration	Strike	Type
CI0001	Leg 1	XYZ	Buy	1	December	10	Call.
	Leg 2	1XYZ	Sell	1	November	10.01	Call.