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Why do only a handful of Canadian companies have options trading on their stocks?
Corporations are removed from the options markets.  They can neither permit nor forbid others from trading them, local laws notwithstanding. No national options market is as prolific as the US's.  In fact, most countries don't even have options trading.  Some won't even allow options but rather option-like derivatives. Finance in Canada is much more tightly regulated than the US.  This primer on Canadian option eligibility shows how much. While US eligibility is also stringent, the quotas are far less restrictive, so a highly liquid small company can also be included where it would be excluded in Canada for failing the top 25% rule.