Want to trade covered call with spy cfd and spy option cfd . Any brokerage offering .I’m an Asian not a US citizen.
Want to trade covered call with spy cfd and spy option cfd . Any brokerage offering
- Thread starter Millionaire_Raj
- Start date
Robert Morse
Sponsor
Why CFD and not Exchange-listed SPY ETF and Options?
Do you have access to IG Index CFD / Spreadbettors ?
... if so then you could sell puts with same strike as covered call ( as equivalent positions )
Spreads are wide ... and skewed in favour of their book ... but given most US brokers have a problem opening accounts for non-US residents ... may be an alternative
Will get leverage on CFD . margin is just 5%.
Robert Morse
Sponsor
Are ES/MES Futures and options on ES larger contracts than would fit your needs?
Other than IG index,Interactive broker, Plus500. Any other CfD provider providing SPY in. CFD and SPY option (weekly,monthly)?
Thanks for prompt response Robert Morse.
Basically I want to trade Long/Short on SPY and hedge it by protective Put/Call and profit from SPY movement .is this possible on what you said ?
How much margin will be required for this position ?. Which brokerage offers it
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Robert Morse
Sponsor
I guess, I'm not a fan of CFD and would prefer listed symbols. That was why I asked about futures, they provide the leverage you are looking for without the counter-party risk of CFD and with real price discover.
If the leverage available it’s good.
Any option available for MES (Micro S& P) future ?
If I trade Long MES and h3dging by SPY 5*put is I’m protected by every point drop ? .
My under standing is Micro S&P is 1/10 of mini SPX future & SPY is 1/10 of SPX .and 5* SPY= 1 MES future
Kindly confirm or do I have separate option for MES.
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I believe 50 shares of SPY = 1 /MES contract