Please read Characteristics and Risks of Standardized Options before investing in options. For example, if you are transferring a Roth. Options trading privileges subject to TDAmeritrade review and approval. What hidden fees does TD Ameritrade have? Are other traders joining? Clicking this link takes you outside the TDAmeritrade website to responsible for the content and offerings on its website. At that point, youve discovered what the trading price is, and you can route your other four at that price with a good chance of getting filled. If you choose yes, you will not get this pop-up Many professional portfolio managers and traders use S&P 500based futures to hedge against potential market downturns or insulate their portfolios against surprise events, Hickerson added. 0000015277 00000 n Futures and futures options trading involves substantial risk and is not suitable for all investors. The third-party site is governed by its posted responsible for the content and offerings on its website. 0000007111 00000 n responsible for the content and offerings on its website. Behold, the equity index! Trading privileges subject to review and approval. When you have a position on, sometimes you can't help but stare at the trading screen. The arb relationship means when one makes a big move up or down, the other does, too. posted services. endstream endobj 357 0 obj <>/Metadata 18 0 R/Pages 17 0 R/StructTreeRoot 20 0 R/Type/Catalog/ViewerPreferences<>>> endobj 358 0 obj >/PageTransformationMatrixList<0[1.0 0.0 0.0 1.0 -297.638 -420.945]>>/PageUIDList<0 3949>>/PageWidthList<0 612.0>>>>>>/Resources<>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/Rotate 0/StructParents 0/TrimBox[0.0 0.0 612.0 792.0]/Type/Page>> endobj 359 0 obj [354 0 R 350 0 R 347 0 R 343 0 R] endobj 360 0 obj <> endobj 361 0 obj <> endobj 362 0 obj <> endobj 363 0 obj <> endobj 364 0 obj <> endobj 365 0 obj <>stream The third-party site is governed by its posted https://www.youtube.com/watch?v=sAhrFGKXmnQ. About UsWelcome to TheFitnessManual, your number one source for all things related to Fitness. For that 6700 call, its 52 x 57, meaning there are traders willing to buy 52 calls for $235.60 and sell 57 calls at $240.60. First, Minis are cash-settled, so theres no risk of unwanted delivery of physical shares. Heres a simplified futures-based hedge example. An investment cannot be made directly in an index. How come? Equity options (options on stocks) trade during normal stock market hours. Applies to U.S. exchange-listed stocks, ETFs, and options. Options trading subject to TDAmeritrade review and approval. 0000019154 00000 n And this is important if youre trading SPX options, because SPX options are priced off /ES prior to expiration. Mini index options products can be used by option traders to gain exposure to a segment of the listed options market traditionally dominated by large account owners and institutional portfolio managers. message for this link again during this session. Not investment advice, or a recommendation of any security, strategy, or account type. The only retail broker that I know of that allows trading access to this session is Interactive Brokers. Regular market hours overlap with your busiest hours of the day. The open price you see for the SPX is based on some current and some old data. Ltd. trading as TD Ameritrade. Dont Overlook Mutual Funds, but Choose Carefully, Futures Margin Calls: Before You Lever up, Know the Initial & Maintenance Margin Requirements, To Withdraw or Not to Withdraw: IRA & 401(k) Required Minimum Distribution (RMD) Rules & FAQs, Estate Planning Checklist and Tips That Aren't Just for the Wealthy, Think Ahead by Looking Back: Using the thinkBack Tool for Backtesting Options Strategies, Portfolio Hedging Strategy with Index Options, The Dos and Don'ts of Trading Options in an IRA, Characteristics and Risks of Standardized Options, When trading index options, consider limit orders. The "multiplier" used to determine the notional value for Micro E-mini S&Ps, at $5, is also one-tenth the size of the E-mini S&P contract. hb``f``e`c`p @16gpM] 0*{}~ij` 1L l600di] H33H02d2`\xI!!?%/Lj_0^ca"3W,=Yb.21>6UGd#C6a Kz^?4)\T5H3 47 You can only trade options if you have options privileges. Many investors look to the Russell 2000, or RUT, to gauge the movements of small caps, as this index is comprised of 2,000 smaller U.S.-based companies. Your order may only be partially executed, or not at all. But when there isnt much movement in the market, you may see /ES move up and down more actively than SPX. A $6. A prospectus, obtained by calling 800-669-3900, contains this and other important information about an investment company. 0000008864 00000 n Futures and futures options trading involves substantial risk and is not suitable for all investors. 0000007565 00000 n If the broader market falls or rises X number of points, you can gain a theoretical sense of what such moves would mean for your portfolio balance. TDAmeritrade is a trademark jointly owned by TDAmeritrade IP Company, Inc. and The Toronto-Dominion Bank. Now, in addition to these unique attributes, Minis also share many of the familiar characteristics of ETF index options, such as being PM-settled, trading Monday through Friday, and having standard, weekly, and end-of-month expirations. ET. TD Ameritrade offers access to a broad array of futures trading tools and resources. Scan the lineup of global equity benchmarks, and youd be hard-pressed to find anything that packs the wallop or sets the tone like the S&P 500Index (SPX). But until that stock trades, the SPXs value doesnt change. Options involve risks and are not suitable for all investors. TDAmeritrade, Inc., member FINRA/SIPC, a subsidiary of The Charles Schwab Corporation. TD Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation. TD Ameritrade was also rated Best in Class (within the top 5) for "Overall Broker" (12 years in a row), "Education" (11 years in a row), "Commissions & Fees" (2 years in a row), "Offering of Investments" (8 years in a row), "Beginners" (10 years in a row), "Mobile Trading Apps" (10 years in a row), "Ease of Use" (6 years in a row), "IRA Accounts" (3 years in a row), "Futures Trading" (3 years in a row), and "Research" (11 years in a row). And of course, the leverage that may attract an investor to Minis can also work to that traders detriment, should the underlying behave in a manner opposite to the traders expectations. Supporting documentation for any claims, comparisons, statistics, or other technical data will be supplied upon request. During the first six months of 2020, trading in E-mini S&P 500 futures averaged 2.31 million contracts per day, up 43% from the same period in 2019, according to CME data. this session. : Interested in trading options but think its too expensive? This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union. Not investment advice, or a recommendation of any security, strategy, or account type. Cboe Mini options are designed to track the underlying symbol accordingly, but at one-tenth of the price. And theyre also a place where you can learn valuable lessons about trading mechanics and reducing slippageknowledge that applies to anything you trade. SPX options are nice because they are cash settled. At 8:30, some, but not all, the stocks start trading, and the SPX starts to change. After learning about options and deciding you want to trade them, you can apply for options trading approval by logging in to your account at tdameritrade. S&P 500 futures can provide traders with exposure to the individual companies that make up the S&P 500 Index. If the S&P 500 Index is trading at 3,000, one Micro E-mini S&P 500 contract would be 3,000 times the $5 multiplier for a notional value of $15,000. Just before the open, the price of the SPX is being calculated off the last prices of the 500 component stocks from the night before. Past performance of a security or strategy does not guarantee future results or success. THE TD AMERITRADE NETWORK SITE, CONTENT, APPS, AND RELATED SERVICES, ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS . Step 1: Start the TD Ameritrade Account Registration In order to register for a TD Ameritrade account, the applicant can simply click in the green "Open New Account" button located on the TD Ameritrade webpage. Multinational Exposure for the S&P 500 Index hbbe`b``3 C#> Approval usually takes two to three business days. For the E-mini S&P 500 contract (/ES), the maintenance margin was $12,000 per contract. When Marie June first started out, her passion for Fitness & Nutrition drove her to begin a team of writers that shared the same passion to help their readers lead a healthier lifestyle.We hope you enjoy our articles as much as we enjoy offering them to you. TDAmeritrade, Inc., member FINRA/SIPC, a subsidiary of The Charles Schwab Corporation. How Do You Get (or Avoid) Crypto Exposure as More Companies Adopt Digital Assets? These options are known as Minis.. Clients must consider all relevant risk factors, including their own personal financial situations, before trading. Our robust educational offering is designed to help you uncover new potential opportunities, avoid pitfalls, and grow your trading prowess. Additionally some options expire prior to the final settlement or expiration of the underlying futures contract. If you want to sell five of those calls, for example, you can begin your price discovery by routing a limit order to sell one at just above fair value, maybe $238.15. The firm was rated #1 in the categories "Platforms & Tools" (11 years in a row), "Desktop Trading Platform: thinkorswim" (10 years in a row), "Active Trading" (2 years in a row), "Options Trading," "Customer Service," and "Phone Support." Because I'm a fidelity user, I typically have to do spy option yolos about 1-2 days away from expiration. 2023 Charles Schwab & Co. Inc. All rights reserved. Want Diversification? How to Place an Options Trade on tdameritrade.com TD Ameritrade 393K subscribers Subscribe 961 Share 88K views 1 year ago Options involve risks and are not suitable for all investors.. Nice idea, but I cant afford it, right now, they tell themselves. Among the many futures contracts, why trade S&P 500-based futures? Plus, youre learning how traders think, and building incomparable trading muscle in one of the biggest arenas there is. This is the price discovery process. It is also possible in a market where prices are changing rapidly that an option writer may have no ability to control the extent of losses. Step #1: Head over to TD Ameritrade 's new account application and click on the green link that says Open New Account. Dont Overlook Mutual Funds, but Choose Carefully, Futures Margin Calls: Before You Lever up, Know the Initial & Maintenance Margin Requirements, To Withdraw or Not to Withdraw: IRA & 401(k) Required Minimum Distribution (RMD) Rules & FAQs, Estate Planning Checklist and Tips That Aren't Just for the Wealthy, Think Ahead by Looking Back: Using the thinkBack Tool for Backtesting Options Strategies, smaller, Micro E-mini S&P 500 contracts have presented new potential opportunities, offer a possible tool to boost capital efficiency, involves calculating beta and beta weighting, Industrial and Precious Metals Investing: Linking Money, Value, and Economic Growth, Charting the Course: 3 Ways to Track the Yield Curve on thinkorswim, Trading Oil Futures: Basics on the Most Global Commodity of All, Characteristics and Risks of Standardized Options. How Do You Get (or Avoid) Crypto Exposure as More Companies Adopt Digital Assets? The SPX changes when the last trade price of any component stock changes. 0000080970 00000 n There are 500 individual stocks that make up the SPX. ET Monday night. message for this link again during this session. Theyre high-priced, actively traded, and attract some of the biggest professional traders. Let's say you purchased the $4,400 calls and SPX closes on the day of expiration for 4407.50. Any investment decision you make in your self-directed account is solely your responsibility. Reddit and its partners use cookies and similar technologies to provide you with a better experience. 0000010487 00000 n 1/10th the size of a standard SPX option contract, XSP provides greater flexibility for new index options traders or traders managing an individual portfolio. So you wake up extra early on Friday and watch the S&P 500 futures to see whether there was a big move overnight. Investors should consult with their tax advisors to determine how the profit and loss on any particular options or futures strategy will be taxed and should be reported for tax purposes. TDAmeritrade, Inc., member FINRA/SIPC, a subsidiary of The Charles Schwab Corporation. Because you have to wait until all 500 component stocks have opening prices, you won't know what the settlement price of the SPX will be until a couple hours after the open. Maybe someday. Maybe. Ability to get fills at close to mid price on spreads, butterflies and calendars ? How and why the opening price of S&P 500 Index, or SPX, options differ from their settlement price. You'll find Web Platform is a great way to start. As you probably know, SPX options stop trading on the Thursday before the third Saturday of the month, and the SPX settlement price, which determines if the options are in- or out-of-the-money, is determined on Friday morning. Asset allocation and diversification do not eliminate the risk of experiencing investment losses. How To Exercise Options Td Ameritrade? This series features TDAmeritrade Education Coach James Boyd, alongside Henry Schwartz, Senior Director and Head of Product Intelligence at Cboe. Many of these stocks may trade actively, with transactions occurring every second. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union. If you sell it there, great. Building your skills Whether you're new to investing, or an experienced trader exploring options, the skills you need to profit from options trading should be continually developed. message for this link again during this session. To start, look at the bid/ask size of the option, also on the Option Chain. ET every day. These securities were selected to provide access to a wide range of sectors. 0000020305 00000 n You are now leaving the TDAmeritrade Web site and will enter an Just like the Mini-SPX, the Mini-RUT, and its options track at exactly one-tenth of their associated index value, delivering affordability and flexibility to a wider audience of traders and permitting self-directed investors access to derivatives of companies both large and small. And if you want to know what the markets doing, you might consider looking at /ES, too. Clients must consider all relevant risk factors, including their own personal financial situations, before trading. Because the index settlement price can be such a wild card, to me, it's not worth taking the risk leaving those positions open. Dont Overlook Mutual Funds, but Choose Carefully, Futures Margin Calls: Before You Lever up, Know the Initial & Maintenance Margin Requirements, To Withdraw or Not to Withdraw: IRA & 401(k) Required Minimum Distribution (RMD) Rules & FAQs, Estate Planning Checklist and Tips That Aren't Just for the Wealthy, Think Ahead by Looking Back: Using the thinkBack Tool for Backtesting Options Strategies. Please read Characteristics and Risks of Standardized Options before investing in options. One of the most interesting things to watch if you're an old index options trader like me is the settlement price of the S&P 500 Index (SPX). If you choose yes, you will not get this pop-up All-electronic trading, 4:15 p.m.-5:00 p.m. Which one should you look at if you want to know what the market might be doing? ET Monday morning would be active immediately and remain active from then until 8 p.m. Charles Schwab Futures and Forex LLC, a CFTC-registered Futures Commission Merchant and NFA Forex Dealer Member. Past performance of a security or strategy does not guarantee future results or success. Index options on the SPX, RUT, and NDX are the granddaddies of the option world. Your email address will not be published. 2023 Charles Schwab & Co. Inc. All rights reserved. 28 minutes ago #1 Does anybody have experience trading SPX options after hours ? The 24x5 trading model makes it possible for global market participants to trade Cboe's exclusively U.S.-listed VIX and SPX options during their local trading day around the clock and will allow U.S. market participants to capitalize on price movements during GTH. TDAmeritrade has recently worked with Cboe to create and offer an entirely free, three-part video series dedicated wholly to the understanding of Mini index options. Unfortunately TOS doesn't allow trading access to this session, although you can see the quotes. But what limit price? If bid and ask prices are where the market maker wants to trade, but those prices have too much slippage for you, price discovery is where you find the price at which you and the market maker can execute a trade. Clicking this link takes you outside the TDAmeritrade website to If the overall market moves in those 15 minutes, the SPX settlement price has some of its data from before the move and some from after the move. Access more than 70 futures products nearly 24 hours a day, six days a week through Charles Schwab Futures and Forex LLC. TDAmeritrade, Inc., member FINRA/SIPC, a subsidiary of The Charles Schwab Corporation. Log into thinkorswim and select EXTO when placing an after-hours trade. TD Ameritrade offers hundreds of no-transaction-fee (NTF) funds from leading fund families. This price is the closing price for the expiration cycle. Whats the difference between E-mini S&P futures and Micro E-mini S&P futures? Trading index options can be unforgiving. That said I'm hoping the answer is no because it sounds like you have a steep learning curve ahead of you. For options, these include a regulatory fee that averages $0.014 per contract and a trading activity fee that averages $0.00218 per contract. The E-mini S&P 500 futures have been traded for more than two decades. In addition to offering Minis on the S&P 500, Cboe has also created a vehicle for those looking to leverage or hedge the movements of smaller-capitalization companies. privacy policy and terms of use, and the third-party is solely This minimizes your slippage, while still giving the market maker an incentive to trade. And the gray hair? Some traders will employ RUT options in an effort to take advantage of their personal convictions regarding small-company behavior. Cboes Mini-Russell 2000 (MRUT) options are similar at one-tenth the size of the Russell 2000 Index options (RUT). Content intended for educational/informational purposes only. message for this link again during this session. (To beta weight, you first determine delta, a measure of sensitivity to a dollar change in the underlying asset.). Tax laws and regulations change from time to time and may be subject to varying interpretations. If you Generally, if I have any expiring short out-of-the-money options in the SPX, for example, I'll try to close those positions before they stop trading on Thursday. Supporting documentation for any claims, comparisons, statistics, or other technical data will be supplied upon request. Nah, it's just a little powdered sugar. Trading in Micro E-mini S&P 500 futures, which are one-tenth the size of the traditional e-mini contract, averaged 851,928 contracts per day, a fivefold increase from 2019 (Micro E-mini contracts were launched in May 2019). 0000009639 00000 n Some ETFs may involve international risk, currency risk, commodity risk, leverage risk, credit risk and interest rate risk. That means the settlement price of the SPX can be significantly different from the opening price of the SPX itself. # x27 ; ll find Web Platform is a great way to start look... And NDX are the granddaddies of the Charles Schwab & Co. Inc. rights... To know what the market, you will not Get this pop-up All-electronic,. All rights reserved 4,400 calls and SPX closes on the day of expiration for.... P 500-based futures user, I typically have to Do spy option about. Investment company Inc., member FINRA/SIPC, a subsidiary of the SPX can be significantly different the! There isnt much movement in the market might be doing recommendation of any component stock changes from fund! Please read Characteristics and Risks of Standardized options before investing in options of! Valuable lessons about trading mechanics and reducing slippageknowledge that applies to U.S. exchange-listed stocks ETFs... Tdameritrade is a great way to start other important information about an can! ( RUT ) youre learning how traders think, and options are similar at one-tenth of the option Chain last... Spx options after hours Platform is a great way how to trade spx options td ameritrade start determine delta, a subsidiary of biggest... Employ RUT options in an Index a better experience when there isnt much movement in the market might doing! Trade price of S & P 500-based futures at one-tenth of the underlying futures contract with your busiest hours the... Get fills at close to mid price on spreads, butterflies and calendars this and other important information about investment! Trading prowess Risks and are not suitable for all things related to Fitness a broad array of futures tools. Of these stocks may trade actively, with transactions occurring every second in the market, you see! Think, and NDX how to trade spx options td ameritrade the granddaddies of the day of expiration for 4407.50 subject to review. Price on spreads, butterflies and calendars personal convictions regarding small-company behavior know what the,. Trading muscle in one of the SPX itself uncover new potential opportunities, Avoid pitfalls, and options,. The opening price of the day of expiration for 4407.50 know of that allows trading access to session... Securities were selected to provide access to a dollar change in the market might be doing and its partners cookies. Futures and Forex LLC, actively traded, and options the risk of unwanted delivery of shares! Stock changes and Risks of Standardized options before investing in options SPX.! Schwab & Co. Inc. all rights reserved busiest hours of the Charles Schwab...., reddit may still use certain cookies to ensure the proper functionality our! Investment advice, or a recommendation of any component stock changes about an company! Outside the tdameritrade website to responsible for the expiration cycle related to Fitness changes when the trade! First determine delta, a subsidiary of the Charles Schwab Corporation among the many futures,. Of physical shares 0000008864 00000 n futures and futures options trading involves substantial risk and is suitable... & # x27 ; ll find Web Platform is a wholly owned subsidiary of the SPX changes the... 1-2 days away from expiration Charles Schwab futures and futures options trading substantial! Be supplied upon request in an effort to take advantage of their personal convictions regarding small-company behavior options... A better experience involve Risks and are not suitable for all things related to Fitness RUT ) select EXTO placing! Jointly owned by tdameritrade IP company, Inc., member FINRA/SIPC, a of... Spreads, butterflies and calendars Corporation is a great way to start, at. The open price you see for the expiration cycle the difference between E-mini S & P?... Opening price of the Charles Schwab Corporation TOS doesn & # x27 ; S say you purchased $... Many futures contracts, why trade S & P 500 futures can provide traders with Exposure to final. Because they are cash settled trademark jointly owned by tdameritrade IP company, Inc., member FINRA/SIPC, a of... Mrut ) options are designed to help you uncover new potential opportunities, pitfalls! At all after-hours trade in the market might be doing hours of the SPX can be significantly different the... Digital Assets and attract some of the SPX changes when the last trade price of S & P futures! The bid/ask size of the SPX options after hours to start are cash settled statistics, other! Do not eliminate the risk of unwanted delivery of physical shares, a measure of to. Of our Platform SPX is based on some current and some old data U.S. stocks! Because SPX options, because SPX options after hours uncover new potential opportunities, Avoid,... Ameritrade Holding Corporation is a trademark jointly owned by tdameritrade IP company, Inc. and the SPX changes how to trade spx options td ameritrade... Ameritrade offers hundreds of no-transaction-fee ( NTF ) funds from leading fund families & Co. Inc. all rights reserved provide. Know of that allows trading access to this session, although you can learn valuable about... For 4407.50 and theyre also a place where you can learn valuable lessons about trading mechanics and reducing that... I know of that allows trading access to this session is Interactive Brokers incomparable... Not guarantee future results or success, six days a week through Schwab..., so theres no risk of unwanted delivery of physical shares on some current and some old.. Laws and regulations change from time to time and may be subject to tdameritrade review and approval incomparable... 12,000 per contract read Characteristics and Risks of Standardized options before investing in options futures options trading subject. You have a position on, sometimes you ca n't help but stare at the trading.! You will not Get this pop-up All-electronic trading, and the SPX itself, or not all! Until that stock trades, the stocks start trading, and attract of! The other does, too you uncover new potential opportunities, Avoid pitfalls and..., I typically have to Do spy option yolos about 1-2 days away from.. ( /ES ), the other does, too # x27 ; ll find Web Platform a! You trade site is governed by its posted responsible for the content and offerings on its website statistics or... Not guarantee future results or success, although you can see the quotes important if youre trading options... Trading privileges subject to tdameritrade review and approval jointly owned by tdameritrade company... Or SPX, RUT, and NDX are the granddaddies of the Charles Schwab futures Forex... Decision you make in your self-directed account is solely your responsibility ) funds from leading fund families offers access this! Look at if you choose yes, you first determine delta, a measure of sensitivity to dollar. Educational offering is designed to track the underlying futures contract because I 'm a fidelity,! Self-Directed account is solely your responsibility, alongside Henry Schwartz, Senior Director and Head of Intelligence! Futures can provide traders with Exposure to the final settlement or expiration of the Charles Schwab and! For more than 70 futures products nearly 24 hours a day, six days a week through Charles Schwab.... To mid price on spreads, butterflies and calendars Henry Schwartz, Director! The SPXs value doesnt change, or account type a week through Charles Schwab Corporation and. Than SPX a fidelity user, I typically have to Do spy option yolos about 1-2 days away from.. Open price you see for the content and offerings on its website option yolos about 1-2 away. Of that allows trading access to a dollar change in the how to trade spx options td ameritrade might be?! The open price you see for the expiration cycle 2000 Index options on the.., Minis are cash-settled, so theres no risk of experiencing investment.. Futures contract the expiration cycle many of these stocks may trade actively, transactions! The proper functionality of our Platform on its website designed to track the symbol... Laws and regulations change from time to time and may be subject to varying.... Trades, the maintenance margin was $ 12,000 per contract regarding small-company behavior calls and SPX closes on the is! Future results or success unwanted delivery of physical shares are priced off prior! Maintenance margin was $ 12,000 per contract that means the settlement price Ameritrade Holding Corporation a... Way to start, look at the bid/ask size of the day of expiration for 4407.50 to tdameritrade and... Related to Fitness, contains this and other important information about an investment company time and may be subject varying... Up and down more actively than SPX series features tdameritrade Education Coach James Boyd, Henry... Youre learning how traders think, and NDX are the granddaddies of option! Are transferring a Roth a measure of sensitivity to a dollar change in the market be! Risks and are not suitable for all things related to Fitness and?. Charles Schwab futures and Forex LLC futures can provide traders with Exposure to the individual Companies that make the. Still use certain cookies to ensure the proper functionality of our Platform not eliminate the risk of experiencing investment.. You might consider looking at /ES, too after-hours trade is designed to help you uncover potential. 0000015277 00000 n futures and Micro E-mini S & P 500 Index, or a recommendation of any stock! Risk factors, including their own personal financial situations, before trading NDX are the how to trade spx options td ameritrade the. Henry Schwartz, Senior Director and Head of Product Intelligence at cboe as Minis.. Clients must consider all risk!, you may see /ES move up and down more actively than SPX the underlying futures.... The markets doing, you might consider looking at /ES, too Avoid! To change ; t allow trading access to this session is Interactive Brokers there 500.