Forgive me if this is a simplistic question. Why did SPY diverge heavily (downward) from $SPX today? It is not as though an ETF is like a futures contract, which rolls over and has a cost of carry, right? Or does it? What am I missing? Thanks in advance for your insight and objective input.
Possibly ex-dividend date http://lmgtfy.com/?q=spy+dividends Not meant as snide remark, easier to post google searches...
Hehe, nice. I always use let me google that for you when I wish to subtly insult the person asking a question that was easily google-able.
It does serve that purpose on occasion lol. Wasn't the intent this time. Glad it answered your question. Cheers