The second useful response to my question!
Which FOPs in terms of underlying would you recommend? I am looking for a market neutral position with selling calls and a puts at the same time with duration of 2 weeks to 6 months. I would therefore need options with low spreads that allow the selling of far in the money options. I am aware that a risk exists if the underlying has a huge price change, therefore I would need a really deep in the money option to counter this risk. I very much prefer a low volatilty underlying for this very reason. As i am not sure about the dividend witholding taxation within SPX or equity in general a non dividend yielding underlying should be preferable in my opinion.
Again this is not a trading strategy per se I hope for a more or less even outcome. In the country where the client resides this is perfectly legal. Futures or bought options will not do the trick as they are differently taxed in the clients country (but no wash sale rule on any produtct). Thanks
I will answer partially to give you time to adjust your question.
> Which FOPs in terms of underlying would you recommend?
I think I already suggested ES.
For instance, just as an example about underlying, if you take this put option:
ES FOP 20230519 3500 P CME 50 E-mini S&P 500
[EW3K3 P3500, 557298027, mult: 50]
Underl conID:
495512569 Underl price: 4,024.00
Δ%: -20.11% θ: -0.59 ν: 7.83 Γ%: 0.0359% IV%: 27.52%
the underlying (no dividend) would be:
ES FUT 202306 CME 50, contract ID: 495512569 (underl price: 4024), under ConId:
11004968
which, in turn, has the index as underlying (E-mini S&P 500, con ID
11004968). Which has no further underlying.
In general, the spread is not going to be cheap with options.
> I am looking for a market neutral position with selling calls and a puts at the same time
> far in the money options
Market neutral? The general shape of your payoff might look like this [if I understood correctly] (with numbers obviously depending on the options selected):
(About recommendations, one should know more about your purpose.)
Example of real-time spread:
ES FOP 20230519 4100 P CME 50 E-mini S&P 500 [EW3K3 P4100, 557297707, mult: 50] 
