Contract specs for SPY options?

BMK

BMK

Can't find this info anywhere.

The sponsoring org for SPY options appears to be NYSE Arca.

I would like to read the contract specs or any other official documents that describe the product.

Can't find anything like that. I don't really want to read a 300-page prospectus. But I can't find that, either. I've searched the NYSE Arca website in depth. There are a few pages with general information about their options products, but nothing specific. I can't even find a list of all the options that they offer.

To be clear, what I am looking for is something like this:

https://www.cboe.com/tradable_products/sp_500/mini_spx_options/specifications/

Or something like the attached fact sheet

I am looking for the same kind of information for SPY options.

The only thing I found on the NYSE Arca website that even comes close is the second attachment. It provides general information that appears to be applicable to all options offered by NYSE Arca for which the underlying is an ETF. And that would include SPY.

But the second attachment does not contain any information that is specific to SPY options.

I find it hard to believe that no specific documents of this type exist for SPY options. But I can't find them.

Anyone know where this stuff can be found?
 

Attachments

BMK said:
Can't find this info anywhere.

The sponsoring org for SPY options appears to be NYSE Arca.

I would like to read the contract specs or any other official documents that describe the product.

Can't find anything like that. I don't really want to read a 300-page prospectus. But I can't find that, either. I've searched the NYSE Arca website in depth. There are a few pages with general information about their options products, but nothing specific. I can't even find a list of all the options that they offer.

To be clear, what I am looking for is something like this:

https://www.cboe.com/tradable_products/sp_500/mini_spx_options/specifications/

Or something like the attached fact sheet

I am looking for the same kind of information for SPY options.

The only thing I found on the NYSE Arca website that even comes close is the second attachment. It provides general information that appears to be applicable to all options offered by NYSE Arca for which the underlying is an ETF. And that would include SPY.

But the second attachment does not contain any information that is specific to SPY options.

I find it hard to believe that no specific documents of this type exist for SPY options. But I can't find them.

Anyone know where this stuff can be found?
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Have you looked at State Street?
 
ajacobson said:
https://www.ssga.com/us/en/intermed...RmuIEsBVPtWte09zDjBoClykQAvD_BwE&gclsrc=aw.ds

For the cash - the options list on every option exchange.
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The page you cited contains no information at all about SPY options. That's the SSGA website that describes the exchange-traded fund. SSGA is not the sponsor for the options. The options are issued, or sponsored by NYSE ARCA. So you won't find what I am looking for on the SSGA website.

Did you look at the two files that I attached? That's what I am looking for, for SPY options.

I know how to find the information for the underlying ETF.
 
@BMK Options are not sponsored by anyone. They are issued by the OCC. SPY lists on all active option exchanges. My response mentioned the reference was for the cash.
 
ajacobson said:
Options are not sponsored by anyone. They are issued by the OCC.
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Maybe sponsor is not the right word. But if you look at my first attachment, you'll see that SPX and XSP options were somehow created by the CBOE. The concept originated at CBOE, and that is the "home" exchange, or something like that...

If there is no sponsor or issuer or host or whatever the term is, then why doesn't the CBOE have a fact sheet, or a list of contract specs, for SPY? If there is no centralized point of origin, or whatever-the-f--k-it-is called, then why aren't the contract specs for each option availale on the website of every exchange where they are traded?

Someone has the authority to define the legal terms of a particular option product, and to later propose changes. And that someone is not OCC. I think it is an exchange. A particular exchange. The exchange that came up with the idea to offer that particular option.

For SPX options, that exchange is CBOE. So on the CBOE website, you can read the contract specs for SPX options.

For SPY options, that exchange is NYSE Arca. So on the NYSE Arca website, I would expect to find the contract specs for SPY options. But they aren't there.
 
And so, with a little more searching, I found a page at NYSE Arca that looked very promising:

https://www.nyse.com/options#products

When you scroll down, you get to an area with four boxes, and four different categories of options: equity, index, ETP, and FLEX/LEAP. And for each category, you can click on "Learn more."

But only the link for FLEX/LEAP works. The others take you to "page not found."
 
SPX options are licensed by S and P to the CBOE - they were also created there in conjunction with S and P and are a monopoly product. S and P has refused to grant any other licenses - which is why the fee is so high. Litigation has not cracked the monopoly. They were originally American style and a failure. Delisted and relisted as European. SPY options were also a monopoly at first. Litigation prevailed and they now list on 16 exchanges. So PFOF is common on SPY options and they trade under linkage rules. What is now Nasdaq ISE was the plaintiff in the litigation. The SPY option is smaller than the SPX and you can it in the posted B/A spreads. The monopoly status means there is about a $.93 difference in fees to trade SPX vs SPY(+65 vs -28). SPX is also licensed to many upstairs trading firms and The OCC also affords the ability to clear upstairs trades in SPX - the only index option they'll do it in. OEX back when it was relevant also was a monopoly product. BOX at one time listed a 10X spy option primarily so that it had the same size as the SPX - not the same characteristics. The hope was it would crack the monopoly and be available on linkage. It never got off the ground. One can only guess as to what PFOF might have been - $1.5 to $2 a contract?


https://www.prnewswire.com/news-rel...-options-litigation-against-ise-98036719.html
 
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