ursa.. I am not really interested in engaging someone such as day who confuses his opinions with facts. My interest is that those who are interested and use this forum get actual facts on how things work to help them in their trading.
Thanks for the information. It is interesting that volume and open interest is not really correlated with the bid and offers available for retail. I see some tradethrough my limits if they are marked as spread trades.
STOP making worthless posts and quick rants, otherwise you are welcome. The objective of this thread was to educate people how they can extract themselves out of SPX and how they can turn the tables on SPX market makers day to day. Oh well , it didn't sit very well with some people with ties to CBOE and SPX. They all got handed down their asses though at the end of the day.
NDX, RUT, SPY, IWM are not built with a deep moat around them filled with wide mouthed Gators and Sharks swimming in the dirty green waters.There is no Castle that CBOE has built, and abuses the hell out of retail investors. Market forces make these indexes efficient. There is lots of liquidity, narrow bid and ask, easy to get in and out, your orders get filled within minutes. That is what our system is all about, based on completion and efficiency and not some freaky, one sided controlled product that has ceased to serve out its purpose. Screw them. Move on. Use the strategy outlined and defeat them.
You are misinforming people as to how trading the SPX works. I'm not saying you're lying, because it seems you really believe what you tell us. It is untrue all the same, and since you are ignoring and unwilling to see the truth we have to keep correcting you. Ursa..
As long as you post wrong information and are rude there is simply nothing at all you can do or say to make myself and those others interested in passing along the actual facts leave. So continue to post your wrong info and we'll continue to correct you. Continue to whine and we'll all continue to stay. Continue to beg us to leave and we'll continue to stay. Have a nice day!
I have been practicing the given strategy all day long. I have been hitting mid price on wide SPX bid and ask and gettinng filled. I had a 30 postion put spread. It took me one hour to clean it up. I got what I wanted, saved $600 on proper fills. Now you come here, a non trader in SPX and starts posting that I am misinforming people? What basis do you have to assert that claim? You too are a shameless beast, so keep grazing the wall.
Of course you get filled when you take the middle between b/a, everybody does, that's no secret. All markets work that way, why would SPX be different? Your misinformation lies in that you claim the MM has to take your bid/offer away because otherwise he is obliged to take all, even very large orders beyond your tradesize at you price. That is what you claimed and that is what you suggest in the title of this thread. It is pure nonsense and may feed your sense of grandeur, but it has nothing to do with you, it is just how the market works. It is not even certain that the MM is the other party in your trade. They are not obliged to trade at any price, except the once they post themselves. Their only obligation is that, unlike other traders, they have to post a bid and an ask, and they wisely put it at equidistant positions from the middle, 'fair' price. You are right that because the SPX has only a single electronic platform there is not much competition price-wise, and most of the business is done in the pit, thus the unreasonably large spreads. Therefore, your advice not to trade SPX unless you have to is a sound one. May one ask why you have to trade the SPX, against your own advise? Ursa..