Are they working on daily options for SPY?

R

RGLD

They already have them expiring 3 days a week. Why not Tues and Thurs too?

If I do a transaction on Friday, that's a one day expiration already.
 
Would make my life easier as it allow me to chose my expiration with exact accuracy. I'd love to see tueday and thursday expirations on XSP and SPY.
 
I sure hope not. there's already too many option series as it is. what value does having dailies add that you can't get from trading weeklies? if you need short term leverage that bad there's plenty of leveraged ETFs to pull from
 
bln said:
Would make my life easier as it allow me to chose my expiration with exact accuracy. I'd love to see tueday and thursday expirations on XSP and SPY.
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If your trading Indicies.. Nadex intra day is the best..
Options are so bad I am telling you.. you only get 1:1 on an option if you buy same day on a 20 pt move on SPX Nadex you will get at least 2.5:1..
Same with Nasdaq probably 3:1 on a 100pt move but 1:1 on an option same day..
 
vegamedic said:
I sure hope not. there's already too many option series as it is. what value does having dailies add that you can't get from trading weeklies? if you need short term leverage that bad there's plenty of leveraged ETFs to pull from
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There are reasons other than leverage or gambling that daily options would be nice for those of us who trade expiration strategies. The fact that you're not aware of them just means you probably trade different products or a different style. An open minded person might try to discover if there's anything there, rather than decry that there are "too many" option series as if it's a moral wrong.
 
I find it very odd they pick those days. Why not Tuesday and Thursday?

If they did Tuesday and Thursday, there will be a 1 day gap between each on weekdays.

Isn't QQQ more popular? They did it for SPY but not QQQ.
 
Yeah, why not spin the wheel more often.

The Monday expiry has a reasoning behind it as it allows people to bet on weekend gaps.
 
I was testing a dialog strategy that works pretty well.

Sell Monday Option At the money
Buy Friday Option 1 SD away.

Every Monday, Weds and Friday ( hopefully Tues and Thurs in the future), roll the option to at the money on closing bell. Low risk, work well when market goes up, and losses are limited on the way down.
 
I don't have an answer for the original poster, (I'd prefer QQQ and IWM match SPY's current expirations before SPY goes 5 days a week)
but this topic reminded me of some history on the subject I learned a month or two ago.

I can't remember the precise details and words said, but it was Tom Sosnof (founder of TastyTrade and ThinkorSwim), when he was a floor trader at the CBOE started the discussion and pushed the changed in option expirations. I can't remember now if he drove the change from monthlies to weeklies overall, or weeklies to dailies for SPY. It was one of those big changes.

Just like my trading sometimes, I'm sure if I said he change one, I'd be wrong because he changed the other. Ha. It was one or the other.

I admire people like Tom who go beyond just talking about, "wouldn't it be nice", "I wish things were different", but puts the leg work into it and pushes hard to change the system.
Please don't take this as a stab at anyone here saying "I wish" or "wouldn't it be nice".
These conversations need to happen first, if any change (if it should even get done) gets done.

Just wanted to share some option history that I learned that I thought was really neat.
 
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