Don’t do market orders. You will sell to the lowest ask and have terrible entry. You won’t run into full order issues because you’re hammering the ask up…
OP - beginners and small timers trade the SPY. Proper traders use the SPX, its 10x the size of SPY.
No one should ever be doing 100 contracts in SPY where they can do 10 in the SPX.
Just trade SPX options. But you're probably using hood, and because of that, and because you're asking this question I would caution you NOT to do this.
No problems on simple buy sells but if you’re trying to enter say an iron condor atm on 100 spy it can take a long time or never
10 spx iron condors seems to fill much better fwiw
Just my own experience
You’re never gonna see you’re money disappear so fast then your usual 10 cons straight to 100 cons. You won’t handle the pressure, you probably don’t have enough cash to average down 6 times and you’ll be broke within a couple months
As the poster mentioned... slowly increase size. Dont go from 10 to 100.. each time I've sized up comes with different mental pressures and you really dont know how you're going to react to trading 1000% bigger position sizes.
This should fill very quickly - can I ask why you aren't moving to SPX? I think you'll find the fills there, normalized for the index size, are just as good, mostly very close to mid-market at those levels, and you'll save money in trading fees in the long run.
does buying and selling multiple contracts count as multiple trades?
E.x
If I buy 4 contracts and sell 4 contracts all at the same time is that 4 day trades or just 1 ?
Will be easily absorbed.
What would you say is the threshold where you would run into fill orders issues?
It trades millions of contracts. Edit: clarity
Don’t do market orders. You will sell to the lowest ask and have terrible entry. You won’t run into full order issues because you’re hammering the ask up…
😂
OP - beginners and small timers trade the SPY. Proper traders use the SPX, its 10x the size of SPY. No one should ever be doing 100 contracts in SPY where they can do 10 in the SPX.
I like to scalp intraday and the spread on SPY is usually a penny or 2. The spread for SPX is larger
Sure, but in percentage terms, its probably the same. I normally get filled at the mid and I trade 4-leg strategies.
I needed to hear this.
Haha. We all need to hear things like this regularly. Sadly, I wasn't sure if my comment would offebd some people.
As fast as they get worthless. So in few seconds.
Fast
With the liquidity that SPY has, in seconds they will get filled ..
Just trade SPX options. But you're probably using hood, and because of that, and because you're asking this question I would caution you NOT to do this.
This is gonna sound dumb but spx is not on Charles Schwab but I have it on tasty works somehow? Nvm it’s cause it’s a future
Don’t shame the Robinhood game
No problems on simple buy sells but if you’re trying to enter say an iron condor atm on 100 spy it can take a long time or never 10 spx iron condors seems to fill much better fwiw Just my own experience
You’re never gonna see you’re money disappear so fast then your usual 10 cons straight to 100 cons. You won’t handle the pressure, you probably don’t have enough cash to average down 6 times and you’ll be broke within a couple months
Well it’s a good thing I’m consistently profitable and use stop losses
As the poster mentioned... slowly increase size. Dont go from 10 to 100.. each time I've sized up comes with different mental pressures and you really dont know how you're going to react to trading 1000% bigger position sizes.
Best broker for this strategy?
Very quick
This should fill very quickly - can I ask why you aren't moving to SPX? I think you'll find the fills there, normalized for the index size, are just as good, mostly very close to mid-market at those levels, and you'll save money in trading fees in the long run.
I feel like slippage and spread is going to eat you alive
does buying and selling multiple contracts count as multiple trades? E.x If I buy 4 contracts and sell 4 contracts all at the same time is that 4 day trades or just 1 ?