SPX/ES?SPY Newb Question - Beginners and Introductions | futures io social day trading
futures io futures trading

SPX/ES?SPY Newb Question
Updated: Views / Replies:537 / 3
Created: by Boomer34 Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Thread Tools Search this Thread

SPX/ES?SPY Newb Question

  #1 (permalink)
Elite Member
Kampala, Uganda
Futures Experience: Intermediate
Platform: TOS
Broker/Data: TOS
Favorite Futures: SPX
Boomer34's Avatar
Posts: 164 since Mar 2011
Thanks: 74 given, 55 received

SPX/ES?SPY Newb Question

So am beginning to do some index options trading...mainly on the SPX.

This got me thinking...if I want to chart and do basic technical analysis (hope to do market profile)...what symbol should I track and chart?

Thanks for any clarification...

Reply With Quote
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

  #3 (permalink)
Elite Member
Tokyo, Japan
Futures Experience: Intermediate
Platform: S5
Broker/Data: Stage5
Favorite Futures: Commodities
Posts: 38 since Dec 2015
Thanks: 12 given, 22 received

Boomer34 View Post
So am beginning to do some index options trading...mainly on the SPX.

This got me thinking...if I want to chart and do basic technical analysis (hope to do market profile)...what symbol should I track and chart?

Thanks for any clarification...

There are 2 contracts on the CME for S&P500, the SP and ES. The SP is $250 x the value of the S&P500 index while ES, the e-mini, is $50 x value of S&P500 index. Both contracts have options so unless you are swinging with the big boys the ES is plenty of leverage and plenty of opportunity to make money.

To answer your original question, you should use the chart for the symbol that corresponds to the underlying on which you are trading options. So if you trade options on the ES then use @ES (for continuous contract and depending on your platform the "@" maybe some other symbol). I have to say that it's important you understand the close of trading for futures options as they are not the same a equity options.

From the CME website for ES american options contract (E-mini S&P 500 Options Contract Specs - CME Group). You can see the quarterly option closes trading on the open for quarterly expirations.
CME Globex (Electronic Platform) QUARTERLY: 8:30 a.m. / 3rd Friday of the contract month
SERIAL: 4:00 p.m. / 3rd Friday of the contract month

You can also trade options on SPY (S&P500 ETF) which acts like an equity option, 1 contract represents 100 shares of the ETF which is about 1/10 the value of the S&P500 index so 1 option on SPY is $10 x SPX notional value. The contracts trade weekly, monthly and leaps and they settle on Saturday which makes last trading US market close on Friday of expiration week.

Some brokers offer very low fees for equity option contracts so you can size your position to fit your account size without paying a fortune in transaction fees using the SPY option. If you are truly a beginner then that is where I would start.

Reply With Quote
The following user says Thank You to AsymOlly for this post:
  #4 (permalink)
Trading Apprentice
conyers ga usa
Futures Experience: Advanced
Platform: apex
Favorite Futures: es
Posts: 15 since Nov 2016
Thanks: 4 given, 11 received

Spy obviously tracks the spx and you can purchase options on both. Spy options are much more liquid therefore cheaper with much smaller spreads. Regarding charting it is a good idea to use the continuous spx chart along with the spy chart. The spy charts like a stock so there won't be any overnight data on it. Only extended hours data. So the continuous spx data fills in the blanks of the missing data on the spy.

Hopefully all that makes since.

Sent using the futures.io mobile app

Reply With Quote


futures io > > > > SPX/ES?SPY Newb Question

Upcoming Webinars and Events (4:30PM ET unless noted)

September Journal Challenge (sponsored by TopstepTrader)


Battlestations! Win $947 in prizes for showing us your trading desk!


Finding Your Edge & Maximizing Returns w/Richard L Weissman

Oct 16

Similar Threads
Thread Thread Starter Forum Replies Last Post
SPY, SPX or /ES? MarvelousMoshe Stocks and ETFs Trading 4 August 13th, 2018 11:16 AM
SPX/ES/SPY: who leads and who follows and why? snusnufreak Emini Index Futures Trading 17 February 15th, 2016 02:26 PM
SPX / SPY portfolio margin requirements mu2pilot Options on Futures 7 November 18th, 2013 04:41 AM
[newb] question on mult entries in direction of trend jordis NinjaTrader Programming 5 November 21st, 2012 02:58 PM
Trading SPY options or ES? blockschip Traders Hideout 8 September 11th, 2011 06:06 PM

All times are GMT -4. The time now is 02:34 PM. (this page content is cached, log in for real-time version)

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2018-10-16 in 0.10 seconds with 14 queries on phoenix