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How are the exchanges going to adjust options on the ETF Nasdaq-100 QQQQ options to reflect the MSFT special dividend?

April 26, 2017ETF exchanges going msft nasdaq-100 Options qqqq reflect special

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How are the exchanges going to adjust options on the ETF Nasdaq-100 QQQQ options to reflect the MSFT special dividend?

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The OCC is anticipating adjusting the options on QQQQ by reducing strikes by 3/8ths. Please note: THE EXACT AMOUNT OF THE NASDAQ-100 INDEX DISTRIBUTION IS NOT ANTICIPATED TO BE AVAILABLE UNTIL AFTER THE CLOSE OF BUSINESS ON DECEMBER 16TH, 2004.