Discussion in 'Options' started by TrailingStop3, Feb 6, 2009.
Anyone can recommend a PUT-option on the DOW or S&P?
Thanks - Daniel
What do you mean by recommend?
For DOW you have index options on DJX or ETF options on DIA.
For S&P500 you have index options on SPX (XSP is mini-sized) or ETF options on SPY.
do you want to buy or sell?
I want to buy. exp june 2009.
I use the IB as broker, but I couldn't find correct symbols for the options. I found some, but there was no volume today, so I guess that's not what I'm looking for, because I thing that there will be some buyers/seller for put options today? Or am I wrong?
Thanks for your reply as well. Where can I find more information on the ETF on DIA and SPY? How can I find the symbol to trade them on IB? (PUT = going short on ETF?)
DIA and SPY are the symbols. I doubt that IB uses some other symbols for them. Yes, these ETFs track the index so buying a put on these ETFs is the same as buying a put on an index (well, there are some slight differences with respect to contract specifications). For more details go to the CBOE website.
IB has the same symbols. I think it is better to trade the index options instead of the ETFs, unless you want to hold the underlying ETFs. You got a better 60/40 tax benefit for trading index options.
Thanks for your help! - and good trades to all!
One last question: this doesn#t look like a put on the DIA? Can anyone verify this?
Try these trading symbols...
Separate names with a comma.