Anyone have any experience working with these? I prefer to make macro trades with option spreads so I can manage exposure at my level. I would be interested in options on /ES, /CL, /GC and other highly liquid futures. How much of a pain in the @ss are these things? The bid/ ask spread looks awful… but the same is true for SPX options and they are managable. How easy its it to sell/ buy back at a reasonable mid point price? How is the liquidity over night? (really, that is the reason I would be interested in using them)
I use options on ES all the time, love em. Not sure what else to say, they rule, no pain in the *** at all.
Everyone and their mother trades these, always a counterparty unless you are trying to do some unpopular contract (then just put an order between bid/ask and wait it out). I trade around the clock when there is action in the markets, so these are nice. When they expire you take possession of the next quarterly futures. Cheap as chips on IBRK ($1-2 trading cost), and futures barely move your maint margin (easy to nuke yourself! LOL).
Thanks… but there goes that idea. I put in a dummy trade above the market to see if I am even allowed to trades these guys. nope. I can trade options. I can trade futures. CAN’T trade options on futures. That wierd, not that I am looking to go short naked on these things, but since the exposure is one contract, I don’t see why it is any different buying or selling one contract. Not sure why they would trust me with one and not the other. I will do some more research and maybe call my broker tomorrow.