S&P Futures: Mini or Big Contract

Discussion in 'Index Futures' started by taigong, Apr 14, 2004.

  1. taigong


    I wonder if there is anyone here who trades S&P Big Contract instead of the Mini.

    Mini obviously has its "edge" mainly in it being traded eletronically. But as you move up in size, is there any advantage for the big contract, in terms of minimum tick, commission, etc?

    I traded the Biggie a couple of years ago (when I started out--and not knowing much about it) and have not touch it during the last few years. It is probably better suited for swing traders with the right account size, but not ideal for day trading (scalping).

    Like to hear input from traders who trade both or who moved on to the major league as they size up.

  2. wdscott



    Liquidity is drying up in the Big SP contract. For this reason, most active traders I know who used to trade the large contract, have all moved to the mni.

    Best Regards,
    Dave Scott
  3. SumJurk


    I used to trade the "big ones", but when electronic trading came into full swing I switched to the ES. The commission is about the same. The full size cost me $25 a rt, and I can do 5 ES for about the same.

    Plus, now I have the luxury of scaling out, and instant fills. (no more phone calls) Like the other poster said, the liquidity is no comparison.
    The last I heard the ES was trading around 600,000 contracts a day, and the big S&P is trading around 80,000.

    As far as minimum tick, the ES has the advantage here. The spread is always one tick. When I used to call in my orders, God only knows what my fill might be.
  4. Boomer


    for those who trades the big sp, have you had any problems getting in your normal size on the mini? at what size do you start having problems getting off you full order?
  5. taigong


    Dave and SumJurk,

    Thanks for your input. ES volume certainly has increased during the last 2-3 years--not unusual to see 1 million volume days now.

    Seems index futures trading has reached the point of no return, the point being the E--electronic trading. It doesn't bode well for CME floor, not that I care.

    Good to know. Thanks again.

  6. i also used to trade the big's. slippage was absolutely horrible. trading the emini, i don't believe you'll have any problem trading 100 emini contracts without any slippage. trading 20 big contracts, you are handing a liscence to someone on the floor to just plain steal from you in the form of slippage.
  7. titan4


    Unless you are trading in the pit, there is no reason to trade the bigs. They give you a quick fill but there is still to much risk and slippage.
  8. KeyWest

    KeyWest Velocity Futures

    Electronic Screen trading (eminis) is done by almost anyone who trades up to 100 lots of eminis.. For institutional clients who need to go larger they use the big contract..