Are MNX (Mini Nasdaq 100) options dead?

Y

yosuji198

Hi all,

I trade QQQ and was hoping to use long options on the Nasdaq as a backup to my stop loss orders. However, the NDX is pricey at 13,000+ notional! Options on a Nasdaq E-Mini would be great but when I look up MNX I get no options.

Were options on MNX discontinued at some point due to low volume or something? Is there another Nasdaq equity index option - or any type options that settles in cash and has weekly expiries (Mon, Wed, Fri expiries)?

Thanks!

Obi
 
I've made sizable gains in past year trading TQQQ and selling options against it (covered calls).

Just to reiterate for those unfamiliar, TQQQ is 3x daily move percentage wise of QQQ.
 
7out said:
I've made sizable gains in past year trading TQQQ and selling options against it (covered calls).

Just to reiterate for those unfamiliar, TQQQ is 3x daily move percentage wise of QQQ.
More...

What's the benefit of trading TQQQ? Yes it's 3X the daily move but also requires 3X the margin to trade (for the ETF anyway) - so the total size of the trade is the same whether you're trading 1 of TQQQ or 3 of QQQ - unless the options on TQQQ are more expensive and less likely to be in the money (does TQQQ require bigger single-day moves to get its options in the money?)
 
I don’t think brokerages offer margin on TQQQ, at least not mine. I can’t really give you comparisons vs QQQ and options because I don’t trade that enough. Only problem with buying QQQ on margin, after a big sell off you might get a margin call but with TQQQ - Never!! The options are very juicy on TQQQ. Very easy to squeeze 1% weekly from them.
 
Talking about my investment in TQQQ, I have made some nice profits with it. Many times, I have received returns that were three times the index at fewer expenses.
 
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