Traded SPX options via the pits and very happy with my executions (around midpoint). If this continues I will increase my size and move most of my trading to SPX.
Okay. I just saw this thread. I've MM'd many indices in europe and usa for my firm (SPX/RUT/DAX/IWM/SPY included). XFA is a good brokerage to work your SPX orders. Don't really need to look for anyone else. If I had to choose US index product for some "income generating" trades, it would for sure be SPX/RUT. No others. SPY/IWM have too high trading costs. For iron condors - SPX might give .05 cents better fills than RUT). But for the rest of the spreads (assume near delta neutral), relatively the exact same. For the RUT however, in a fast mkt, you will be able to get out for a better price (SPX is pit traded, when the floor goes crazy, your 100x lot will mean shit) RUT, don't use a broker for your size. You get better fills electronic. Either through CBOE or ISE electronic spread entry. It seems that you are "managing" these positions, so I would go with the RUT for the safety factor (allows for a lower adjustment cost when markets really move). Let me know if you have any more questions.
100% inaccurate or 5% inaccurate? If it is to someone else's benefit you will get a fill at the midpoint (fair value), but if no one else is interested in trading at the midpoint you won't get a fill until the market moves against you.
not 14.96% Btw, did some more trades on SPX and received nice executions (around midpoint and some at midpoint but that took +/- 20m for they were executed). No outright trades but spreads.
RUT is very good. You'd have no problems getting filled at fair prices except when the markets gap open.
Hi funrettig, Would you mind elaborating on what you meant by the above? How does one get access to CBOE or ISE electronic spread entry? Thanks.