SPY weekly traders .

Discussion in 'Options' started by tickmagnet, Aug 11, 2011.

  1. I've been trading stocks and options for years , but I only trade SPY weeklys now.Do you guys use limit or market orders ?i missed the big one today , they keep spreads so wide , that its hard to keep up with them. So who trades weeklys?

  2. FSU


    You may also want to look at the SPX weekly options. They are traded electronically (monthlies are traded in the pit) and have pretty tight markets. Since they are 10x the size of the SPY's, commissions will be less.
  3. Gustaf


    How wide are those spreads usually?

    Atleast with stock options its easy to get filled midpoint + little bit negative towards your side. Weeklys are tougher.
  4. MTE


    Aren't these trades of yours papertrades!? In which case you are hardly qualified to provide any advice or opinion on which type of order to use.
  5. wide spreads?? not last time I looked, which is every day.
  6. I don't know who you trade with , or what screen you looking at ,but I'd say SPY weekly spreads are kept wide time to time .That's how they make money.
  7. Gustaf


    Is it possible to get filled better than bid?

    Anyone that trades SPY weeklys alot?

  8. hajimow


    If the bid/ask spread is only one cent, if you buy market order, you will get ask and if you sell market you will get bid. For out of the money options, the spread increases (sometimes 20-30 cents). In those cases if you put market order, most probably get filled in between.
  9. Gustaf


    Thanks. Actually did a spread today got filled midpoint + tiny bit, and fast.

    Br Gustaf
  10. MTE


    Are you asking about getting filled better than the bid on a sell or a buy?
    #10     Aug 16, 2011