Mix of volume across the 5 listed products is similar to the mix among the same 'full size' options, with SPDR S&P 500 ETF (SPY) leading the list, followed by Apple (AAPL) and SPDR Gold ETF (GLD).
As Skip noted this week , mini's are expected to attract more retail flow than institutional, and therefore may provide a more specific measure of investor sentiment than the mix of institutional and retail seen in full-sized contracts. I agree with Skip and look forward to further growth in the Minis for their informational content.
Surprisingly, we've seen large trades in the minis, especially the ultra liquid SPY.
Those 1,000 lots on BATS (where minis have zero fees for the moment) could have been done as 10 lots in the normal SPY contract (or a single SPX contract), for the same economic trade. We may be seeing some mini-boosters taking advantage of the fee difference, or possibly some new participants that are simply more comfortable with the new contract size. Unfortunately I doubt retail clients can take advantage of the BATS fee cut, because I have not yet seen any brokers cut the customer commission side of the equation. Stay tuned!
OptionsProfits can be followed on Twitter at twitter.com/OptionsProfits.
EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas