Everyday expirations coming to the SPX

Dustin · Feb 7, 2022

antares66 said:
0DTE SPX options are best for day trading if you can handle them. Huge leverage, but time decay is an issue for OTM SPX options the closer the end of session comes. That is the difference to Futures and the spread is much bigger. But during the last weeks there were days when 2000$ could turn to 9000$ with one option.

That's nothing, there were multiple 30x to 50x+ opportunities in SPX/NDX lately.

Dustin · Feb 7, 2022

The_Krakenite said:
And soon all the excitement will die off as everyone complains of what they believe to be rip-off fees.

Nothing new here folks! Moving on....

For those of us that trade these everyday this news is huge.

antares66 · Feb 7, 2022

Dustin said:
That's nothing, there were multiple 30x to 50x+ opportunities in SPX/NDX lately.

I agree.

antares66 · Feb 8, 2022

Why do you prefer day trading SPX options on expiration day over day trading futures? Is that because of the limited risk you have in trading options (only premium could get lost)? With futures you could have a similar leverage and the spread is smaller.

Dustin · Feb 8, 2022

antares66 said:
Why do you prefer day trading SPX options on expiration day over day trading futures? Is that because of the limited risk you have in trading options (only premium could get lost)? With futures you could have a similar leverage and the spread is smaller.

Yes, defined risk.

antares66 · Feb 8, 2022

Since a lot of you seem to be very experienced in trading this way i am still searching a good execution platform. I am with IB but had a lot of problems enter an option trade on Booktrader. Orders weren´t executed instantly, instead system told me suprisingly i should enter a limit price. This although i set up a button which should allow me to buy +0.05 above ask.
So then i tried enter a trade on an option chart. This also didn´t work well because i got no intraday backfills on option charts for spx. Other options for stocks (AAPL, MSFT) show an intraday backfill. So i will try medvedtrader again, perhaps DAS Trader pro, which is expensive.
What are your recommendations. I would really appreciate some. Thanks

deltaf0rce · Feb 9, 2022

I like TD. yeah you pay market rate but they’ll work with you after you develop patterns. Their software as a basic offering is top notch. Not annoying with their margin except in leveraged products there is very little , well run

deltaf0rce · Feb 9, 2022

If you’re a sniper go to Fidelity. They send your orders right into the ECN

antares66 · Feb 9, 2022

deltaf0rce said:
If you’re a sniper go to Fidelity. They send your orders right into the ECN

I have to stay with IB. But TWS is so clunky!

darwin666 · Mar 6, 2022

antares66 said:
Since a lot of you seem to be very experienced in trading this way i am still searching a good execution platform. I am with IB but had a lot of problems enter an option trade on Booktrader. Orders weren´t executed instantly, instead system told me suprisingly i should enter a limit price. This although i set up a button which should allow me to buy +0.05 above ask.
So then i tried enter a trade on an option chart. This also didn´t work well because i got no intraday backfills on option charts for spx. Other options for stocks (AAPL, MSFT) show an intraday backfill. So i will try medvedtrader again, perhaps DAS Trader pro, which is expensive.
What are your recommendations. I would really appreciate some. Thanks

Ib tws is the best. Not sure what exactly did you do. But it works great for me. Super fast execution. Particularly when I have 0 DTE bull put and bear call spreads.