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Strategies & Market Trends : Tech Stock Options
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To: ViperChick Secret Agent 006.9 who wrote (49262)8/5/1998 6:51:00 AM
From: Patrick Slevin  Read Replies (3) of 58727
 
Man, what happened to you on Stock Wars yesterday?

I was trying to find your post on OEX/SPX options and came across "In my opinion, you are a complete idiot".

Anyway, by co-incidence I came across an e-mail on another list that had this on it. The author is a CBOE MM so he is speaking authoritatively, I suppose.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~

OEX options are American style..they trade more volume than SPX...are mostly a product used by individual investors..they have lower open interest than SPX. They are also PM settlement vs AM for SPX.

SPX options are european.....the trade less volume, but the typical trade size is about 20x the OEX. The b/a reflects their institutional following and often a better market exists than what is on the screen. The screen represents what is usually a 500 to 1,000 market vs 10 for the OEX. The are easier to trade in fast markets because of direct correlation to the futures contract. Accordingly their volatility is less volatile than that of the OEX. They are AM settlement.

One other piece of information. Expect a traded unit trust on the OEX around the first of the year. The SPX already has one, the spyder(symbol spy). The OEX also is about 1/2 the size and has more "technology and oil " than the SPX.

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