The number of strikes

@marsman, but what strike do you want on penny stocks? Every 5 cents... and then trade options to 1/10th of a cent? There's no point really.... Also, it might be moved away from one exchange to another for not meeting exchange requirements. That happens, they have to de-list. Then, again, there's no point for options....
 
I think the lack of strikes is a disadvantage for that instrument or underlying.
Ie. it gets punished and discriminated...
IMO, there should always be at least 5 strikes below and 5 strikes above ATM, each side initially covering max. 40 to 50% off ATM...
 
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