if I want to hedge my ES future with spy or spx options how many contracts I need to cover 1 contract? As well what is better to hedge with spy or Spx? Also what has the most hours of trading as I read that some etf are trading now longer hours Thanks
500 shares of SPY is about 1 contract ES. If you use SPY options, that would be 5 contracts per ES contract.
SPY trades almost exactly like ES. Don't know about ES options. SPY options are probably the most liquid options there are.