I have never understood this argument.. Why do people still trade the diamonds over the dow emini?? Lower commission, higher margins, better spreads.. etc, etc, etc.
I'm sorry, I don't understand your response - what does it have to do with OP's question? Which argument are you referring to?
The average bid-ask is more like 20 cents, not 30 cents. I think it has something to do with the recent wild 100+ swings the DOW has been having, increasing volatility. When things settle down then the bid-ask will be less.
http://www.ise.com/WebForm/viewPage.aspx?categoryId=152&header5=true&menu3=true&link7=true - Pilot Symbols The following is the list of stocks included in the initial phase of the pilot: IWM â iShares Russell 2000® QQQQ â Nasdaq-100® Trust Shares SMH â SemiConductors Holders GE â General Electric Co. AMD â Advanced Micro Devices Inc. MSFT â Microsoft Corp. INTC â Intel Corp. CAT â Caterpillar Inc. WFMI â Whole Foods Market Inc. TXN â Texas Instruments Inc. A â Agilent Tech Inc. FLEX â Flextronics International Ltd. SUNW â Sun Micro Systems Inc. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - A list of symbols to be added in phase two of the pilot is below: SPY - SPDR® S&P 500 AAPL - Apple Inc. MO - Altria Group, Inc. DNDN - Dendreon Corp. AMGN - Amgen Inc. YHOO - Yahoo! Inc. QCOM - Qualcomm Inc. GM - General Motors XLE - Energy Select Sector SPDR DIA - Diamonds Trust OIH - Oil Services HLDRS NYX - NYSE Euronext CSCO - Cisco Systems XLF - Financial Select Sector SPDR T - AT&T, Inc. C - Citigroup, Inc. AMZN - Amazon.com Inc. MOT - Motorola Inc. RIMM - Research in Motion Ltd. FCX - Freeport-McMoRan Copper & Gold, Inc. COP - ConocoPhillips BMY - Bristol-Myers Squibb Co. Penny Pilot Report ISE submitted its penny pilot report to the SEC on May 23, 2007. The report provides ISE's preliminary findings for the first three months of the penny pilot program relating to market quality, capacity, and operational issues. It also contains recommendations for the next steps of the pilot program.