Quote from ddouglas:
My point exactly - and the terminology used in the posts never gives the impression that this changed.
Apparently it is understood now.
Why consider anything other than the ES? Because not everyone has the same criteria as you do when it comes to choosing a contract. That's a starter.Quote from ddouglas:
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 babutime:
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?
Quote from ddouglas:
Ok, let's observe a couple facts here.
First, You're accusing me of not knowing what the e-mini is after I posted two separate links to contract specs (one for ES options, the other for SP options). Think that one through next time. Further, SPX is NOT the same as SPM2 futures or ESM2 futures - but I am done trying to clarify that issue.
Second, TskTsk, unless you are posting under two different usernames, there is no post showing that you understood the difference, & that the problem was resolved.
Third, given that you originally didn't even know whether the SPX was an index or a future, it was reasonable to assume you may not be aware of where the liquidity was - so I suggested the e-mini. If this is not what you want, then more power to ya - trade whatever you wish.
Fourth, babutime - if you are going to accuse people of not knowing their basic facts, then you should definitely know yours. Globex data does not require a separate subscription, and is included in your US mkt data bundle if you have a futures account.
Details can be found here:
http://www.interactivebrokers.com/en/p.php?f=marketData
"US Securities & Commodities Non-Professional Bundle"
Quote from osho67:
Sorry about this question
I see SPX index options under CBOE
I also see SPXPM index options under CBOE2
Please what is the difference and why there are two types of index options under CBOE? Which is better to trade and which is traded electronically ? Are both European style and cash settled?
Thanks
Quote from FSU:
SPX Pit traded at the CBOE European expiration based on morning settlement prices on expiration Friday. Wide quoted markets, tight inside markets. Orders may or may not be filled instantly, based on what type of order is quoted. Quotes are sent by one market maker only, but can be changed by broker representing an order, or an order entered into the electronic book.
SPXW (weekly SPX) quotes sent in by multiple market makers. If you see a quote, you can trade off of it instantly. Tight quoted markets. Expiration is in the afternoon. (On monthly expiration week there are no SPXW's)
SPXPM Traded on the C2, the CBOE's all electronic exchange. No pit. Quotes sent in by multiple market-makers. If you see a quote, you can be filled instantly. Tight quoted markets. Expires in the afternoon.
All three products are single listed and have a COB (complex order book) to facilitate electronic spread trading. All are cash settled.
Best bet is trading SPXPM or SPXW for most public customers.
Quote from FSU:
SPX Pit traded at the CBOE European expiration based on morning settlement prices on expiration Friday. Wide quoted markets, tight inside markets. Orders may or may not be filled instantly, based on what type of order is quoted. Quotes are sent by one market maker only, but can be changed by broker representing an order, or an order entered into the electronic book.
SPXW (weekly SPX) quotes sent in by multiple market makers. If you see a quote, you can trade off of it instantly. Tight quoted markets. Expiration is in the afternoon. (On monthly expiration week there are no SPXW's)
SPXPM Traded on the C2, the CBOE's all electronic exchange. No pit. Quotes sent in by multiple market-makers. If you see a quote, you can be filled instantly. Tight quoted markets. Expires in the afternoon.
All three products are single listed and have a COB (complex order book) to facilitate electronic spread trading. All are cash settled.
Best bet is trading SPXPM or SPXW for most public customers.