After starting out on SPY, I have just moved over to the ES as well. seems to have better liquidty, and form what I have seen so far, will reduce costs over SPY.. Not sure about NQ though, havent tried that one yet.
Open interest on ES options seems much lower that on SPX options. Is the liquidity or execution better???
ES = American options SPX = European options ES = bigger spreads, but able to sell naked SPX = tighter spreads, but the margins for naked is gargantuan The NQ has a finer strike price, and can be sold naked, whereas NDX not really. When I mean can be sold naked, I mean you can sell ES naked without having to give your grandchild as ransom.
This question is somewhat off the topic, but I noticed some of you have traded IWM options. I noticed the various IWM strikes each have multiple symbols trading. What is the difference, for example, in the Dec 60 call symbol DIWLH vs IQXLH? There is obviously a big difference in open interest, and volume, but are there functional differences? Is one American vs European exercise? Thanks!
To clarify, I am looking at Yahoo finance, but multiple choices don't appear when pulling up and options chain for IWM in my brokerage account.
The DIWLH is the normal one that expires on the Saturday following the 3rd Friday of Dec. The IQXLH is the quarterly one that expires at the end of the month.