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CBOE SPX feed into IB?
- Thread starter TskTsk
- Start date
Quote from Jerkstore:
CBOE trades index options, not futures options (that's globex at the CME). go to the options trader, type in spx, and choose index
Thanks, yeah thats what I thought...so everything is as it should be. Except when selecting the SPX future options (Jun'12 @ GLOBEX) I cant get any BA quotes on the screen, which is my original problem...anyone knows why? Retailers cant trade this?
Quote from TskTsk:
when selecting the SPX future options (Jun'12 @ GLOBEX) I cant get any BA quotes on the screen, which is my original problem...anyone knows why?
I repeat myself: Index, not future.
Further explanation: (you should know this already - it is your basic responsibility):
SPX = S&P 500 index. SPY is its ETF that trades like a stock. SPX and SPY options are traded on CBOE (as well as SPXPM and many other related products). They are not futures options, they are considered equity products.
ES = the S&P 500 future. It is traded on CME GLOBEX. Options on ES are also available - which are traded on GLOBEX as well. These options are futures options, not equity options. Their cash value is vastly different from SPX or SPY. How much? If you don't know, you are not adequately competent to trade them.
I don't mean to be insulting, but if you haven't discovered the above information on your own already, you are in deep sh*t, and should seriously consider ending your trading career now, before the heavy bleeding begins.
Quote from ddouglas:
I repeat myself: Index, not future.
Further explanation: (you should know this already - it is your basic responsibility):
SPX = S&P 500 index. SPY is its ETF that trades like a stock. SPX and SPY options are traded on CBOE (as well as SPXPM and many other related products). They are not futures options, they are considered equity products.
ES = the S&P 500 future. It is traded on CME GLOBEX. Options on ES are also available - which are traded on GLOBEX as well. These options are futures options, not equity options. Their cash value is vastly different from SPX or SPY. How much? If you don't know, you are not adequately competent to trade them.
I don't mean to be insulting, but if you haven't discovered the above information on your own already, you are in deep sh*t, and should seriously consider ending your trading career now, before the heavy bleeding begins.
As said, all that is well understood already. However the question still remains, why can't I get any BA quotes for the Jun'12 SPX future options (SPM2) on CME? Are they really illiquid? CME reports 0 volume, so I'm guessing that's it.
Quote from TskTsk:
On the CBOE website it says the SPX index has pretty high options volumes, not sure if this is right but on IB I see no volume or no market makers (bid ask) for the CBOE SPX options? What am I doing wrong? The contract Im looking at is "SPX Jun'12 @GLOBEX" on IB.
Quote from TskTsk:
As said, all that is well understood already. . .
All is clearly not well understood.
You asked for help finding SPX options on CBOE, and are now looking for them under SPM2 on CME.
Spend an afternoon Googling all of the terms in your question (which i quoted above), until you realize what is wrong with it. The answer should become immediately apparent after that.
Quote from ddouglas:
All is clearly not well understood.
You asked for help finding SPX options on CBOE, and are now looking for them under SPM2 on CME.
Spend an afternoon Googling all of the terms in your question (which i quoted above), until you realize what is wrong with it. The answer should become immediately apparent after that.
Right. If you bothered reading through the entire thread, you'd know my original question was already answered by Jerkstore on page 2. I know I was looking at the wrong instrument, and I already found the correct one (SPX Index). That is not an issue anymore. HOWEVER, I am still curious as to why the SPM2 (the one I was wrongfully looking at) has no BA quotes.
Quote from Traveler:
The OP doesn't understand that the SPX and SP500 futures/options are different products and trade on different exchanges, even though they are all derivatives of the SP500 stock index.
My point exactly - and the terminology used in the posts never gives the impression that this changed.
Apparently it is understood now.
The question now is: if you want to trade S&P500 futures-options, why consider anything other than the ES? It's one of the most liquid contracts in the world. SP options are much less liquid, and I believe they only trade electronically in the off-hours (pit-only during the regular session, if I'm not mistaken).
http://www.cmegroup.com/trading/equity-index/us-index/sandp-500_contractSpecs_options.html
This may be why you're not getting any quotes (though I've never bothered with the SP contract, & know little about its specifics).
ES options are much more liquid, and trade electronically virtually round-the-clock.
http://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500_contractSpecs_options.html
Quote from TskTsk:
Right. If you bothered reading through the entire thread, you'd know my original question was already answered by Jerkstore on page 2. I know I was looking at the wrong instrument, and I already found the correct one (SPX Index). That is not an issue anymore. HOWEVER, I am still curious as to why the SPM2 (the one I was wrongfully looking at) has no BA quotes.
Funny how nobody here ever reads what you are asking.
But to answer your question, yes, you need a subscription to CME Globex which isn't part of the US non-pro bundle in IB.
CBOE doesn't show futures options on SPX.
And btw ddouglas, it's SPX not ES. ES is the Emini contract. If you're going to be lazy and not read what the OP is asking for (albeit in subsequent posts) then maybe you should also be careful with your own posts. The only logical conclusion to draw from your mistake is that you yourself don't know the differences.
So, why don't you put your career to end?