I want to make a trade and I haven't traded in a long time. I only invest in hedge funds these days so I don't even have live quotes anymore. My premise is that tomorrow will open up 50-60 off the IBM news, trade a little higher on some short covering, then turn down again as markets always try to repeat their near-term action until it stops working. The S&P is -9.2% for the month and hence -9.2% for the year. I think we will see near -10% ytd but won't get there (maybe -30-50 or so on the Dow). I think the reason is that -10% on the S&P is too tempting for money managers to buy and thereby guarantee themselves a 10% outperformance on the S&P for 2008. I think there will be major bids at/near -10% on the S&P mtd/ytd. I'd like to express this position by selling Puts. I imagine Volatility has spiked on this down move and I'd like to get the double effect of the rally and commensurate decline in Vol. Here is my question, what is the most effective play for me to make in light of my outlook? Can someone provide me with the quote for front month 1325, 1300 and 1275 Puts on the S&P Future? What is the current Vol. of these options? How does this Vol. compare to Dec. 31 Vol. levels? Thank you very much for the assistance....
I get the impression he wants quotes on options for the S&P500 futures, such as ES. But I think options on the SPY would be better, as your link points to.