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SPY, SPX or /ES?
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SPY, SPX or /ES?

  #1 (permalink)
Trading Apprentice
Reno, Nevada
 
Trading Experience: Intermediate
Platform: Thinkorswim
Favorite Futures: options
 
Posts: 1 since Sep 2012
Thanks: 0 given, 1 received

SPY, SPX or /ES?

Hi,

I have a quick question.

I trade primarily SPY options.

When doing my chart analysis, what underlying should I use - the SPY, the SPX or the futures?

Any help would be greatly appreciated.

Thanks!

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  #2 (permalink)
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  #3 (permalink)
Elite Member
McKinney, TX
 
Trading Experience: Intermediate
Platform: Think or Swim, NinjaTrade
Favorite Futures: The indexes, ES, YM, NQ & RTY
 
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MarvelousMoshe View Post
Hi,

I have a quick question.

I trade primarily SPY options.

When doing my chart analysis, what underlying should I use - the SPY, the SPX or the futures?

Any help would be greatly appreciated.

Thanks!

I would use the underlying of what I was trading.

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  #4 (permalink)
Elite Member
Houston, TX
 
Trading Experience: Intermediate
Platform: NinjaTrader TWS Barchart
Broker/Data: IB / IB
Favorite Futures: SPY, QQQ
 
ElChacal's Avatar
 
Posts: 404 since Nov 2014
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This is such a great question that I bet would save small traders as myself, a lot of heartaches and busting. And I am trying to answer:

From the below video, it depends on the options "DELTA" (greek) but in round numbers you could say 1 ES = 5 SPY (ATM?) Options. Since, SPX is (10x) SPY, could we say that 1 SPX Option = 2 ES ...?

https://www.youtube.com/watch?v=UhJcjdYzAwk


Regards.

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  #5 (permalink)
Elite Member
Houston, TX
 
Trading Experience: Intermediate
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ElChacal's Avatar
 
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Considering that when you buy and Option you pay Premium and it loses value as time passes, I am seriously considering Selling SPY OTM options as my new sole trading instrument.

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  #6 (permalink)
Trading Apprentice
Waco Texas/USA
 
Trading Experience: Advanced
Platform: TOS
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Pugged's Avatar
 
Posts: 12 since Mar 2017
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Netdania

And spx is a good track for spy. You can see pre-market activity & direction pretty good with shorter term maís

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  #7 (permalink)
Elite Member
Houston, TX
 
Trading Experience: Intermediate
Platform: NinjaTrader TWS Barchart
Broker/Data: IB / IB
Favorite Futures: SPY, QQQ
 
ElChacal's Avatar
 
Posts: 404 since Nov 2014
Thanks: 470 given, 275 received


ElChacal View Post
Considering that when you buy and Option you pay Premium and it loses value as time passes, I am seriously considering Selling SPY OTM options as my new sole trading instrument.



Update: Iíve simply been buying calls. They are much cheaper.


Sent using the futures.io mobile app

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