Anything besides SPY with M/W/F expires? stock, ETFs, futures

D

darp

SPY has Mon/Wed/Fri options. I find them handy. This http://www.cboe.com/products/weeklys-options/available-weeklys says
LIST OF AVAILABLE WEEKLY OPTIONS
Weekly Type Expiries
Standard 06/05/20 06/12/20
Expanded 06/05/20 06/12/20 06/26/20 07/02/20 07/10/20 07/24/20
Equity/ETF/ETN (WED) 06/10/20 06/17/20 06/24/20 07/01/20 07/08/20
Equity/ETF/ETN (MON) 06/08/20 06/15/20 06/22/20 06/29/20 07/06/20 07/13/20
End of Week 06/05/20 06/12/20 06/26/20 07/02/20 07/10/20 07/24/20
XSP (EOW) 06/05/20 06/12/20 06/26/20 07/02/20 07/10/20 07/24/20 08/07/20
XSP (MON) 06/08/20 06/15/20 06/22/20 06/29/20 07/06/20 07/13/20 07/20/20
XSP (WED) 06/10/20 06/17/20 06/24/20 07/01/20
SPXW Monday (MON) 06/08/20 06/15/20 06/22/20 06/29/20 07/06/20
SPXW Wednesday (WED) 06/10/20 06/17/20 06/24/20 07/01/20
SPXW (EOW) 06/05/20 06/12/20 06/26/20 07/02/20 07/10/20 07/24/20
VIX 06/10/20 06/24/20 07/01/20 07/08/20

Am not trading The XSP which think is mini or SPX futures but it seems they do have MWF options. Thanks in advance for any info on MWF options or even just M/F options
 
darp said:
https://investingshortcuts.com/options/spy-options-versus-spx-options/ says maybe 1/10th the cost on SPX options. Right now am paying .50 a SPY option. Anyone here getting that on SPX? And if recall right maybe better taxes on Futures options than stock options?
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Tax Treatment Differences
Here there is a substantial plus to Index options. The IRS treats these indexes differently from stocks (or ETFs).

The Index options get special Section 1256 treatment which enables the investor to have 60% of a gain as long term (at a 15% tax rate), and the other 40% treated as short term (at the regular 35% short term capital gains rate) even if the position is held for less than a year.

By contrast, the ETFs are treated as ordinary stocks, and thus if held less than a year, all gains are taxed at the less favorable 35% short-term capital gains rate. Thus the Index options can be better from a tax standpoint. You should of course consult with your tax advisor to see how these tax implications may or may not be significant in your situation.

That is what had recalled. Have also verified that the commissions are way less, about the same but the cotract is 10x bigger. So SPX is looking better. Only hear one disadvantage, the Bid ask is larger they say on SPX, harder to get the mid. From those here that use SPX options is that true? And again from experience you have had, does the 1/10th comms save more or less than the losses from worse bid/ask spreads?
 
destriero said:
I don't know what I am paying on SPX but the zero comms brokers are the way to go. TDA or IBKR. Single names are running $0.65 all-in on TDA.
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Thanks destriero, I have IB, Fid and Etrade and on stocks at Fid no matter what type of stock there are no comms. However none have zero comms for options. I am paying .55 and .51 with exch fees in. But that is stocks. And just conformed on futures options it is .65 of so which is totally OK with me, as loon as do not pay more in spread losses. So on SP about $5.50 for 10 options, if SPX is .65 for 1 option (same amount of dollar position) , that saves about $5 but from anyone's experience do wonder bid/ask on SPX mean on average I would lose more that $5? being the tax saving will be a lot think will go SPX but am very curious.
 
destriero said:
I don't know what I am paying on SPX but the zero comms brokers are the way to go. TDA or IBKR. Single names are running $0.65 all-in on TDA.
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Both TD and IB will pass on exchange fees in the SPX of around .60 a contract. Some "free" brokers such as Robin Hood will not allow you to trade SPX options because of this fee.
 
Thanks FSU. On the bid/ask spread indeed see a difference. Was able to quote a spread on Etrade with both SPY and SPX and the mid was .06 and Ask .12 on SPY, same on SPX was .55 (tad better) but ask for 1.80. Of course need to divide by 10 so .055 and .18 so 50% more on SPX spread wise. The tax benefits are such think will do the SPX. Also finer slicing on SPX as in 3190, 3195 on spy 319, 320.

The only negative would be if harder to get mid or close to mid on execution. If anyone has knowledge on that please post.
 
Also if anyone know of anything beyond the SPY and SPX that have Monday and Friday options, most interested.
 
darp said:
Thanks FSU. On the bid/ask spread indeed see a difference. Was able to quote a spread on Etrade with both SPY and SPX and the mid was .06 and Ask .12 on SPY, same on SPX was .55 (tad better) but ask for 1.80. Of course need to divide by 10 so .055 and .18 so 50% more on SPX spread wise. The tax benefits are such think will do the SPX. Also finer slicing on SPX as in 3190, 3195 on spy 319, 320.

The only negative would be if harder to get mid or close to mid on execution. If anyone has knowledge on that please post.
More...
Although some quotes may be wide in the SPX, the "real" markets are usually very tight, especially with spreads.
 
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