Advice for SPX options Limit orders not filling

Vanas08

New member
Hi everyone,
I've been day trading SPY options with pretty good success for the last several months and thought I'd try sizing up to SPX. I usually scalp trade for a decent little profit everyday. However, I haven't done nearly as well trading SPX options. Part of it was because I didn't take into account how wide the spreads were in SPX compared to SPY, but it was also when I used a limit order and it would just turn into me chasing price. My orders weren't often filled unless I used a market order which ended up hurting me. I use Thinkorswim for Charting and have been using Interactive Brokers to execute orders, but the data in IB is delayed. That hasn't really bothered me since I just use the TOS charts, but I'm not sure if that's also been a problem. I've been looking into switching to Tastyworks as my broker. Currently when trading SPX, I haven't entered a position with contract sizes over $6.00 per contract. Would switching brokers help improve my situation? Also, if anyone has experience scalping SPX, would you mind sharing what order types you use and what contract price? Thank you
 
Solution
I use TOS for SPX and XSP scalps. I don't have a problem. Bid .05-.10 higher then current bid and exit Same unless I'm holding to settlement. I usually only trade the last ten mins. On (0Days) for SPX. All day on XSP. I like the cash settlements.

strange

New member
I use TOS for SPX and XSP scalps. I don't have a problem. Bid .05-.10 higher then current bid and exit Same unless I'm holding to settlement. I usually only trade the last ten mins. On (0Days) for SPX. All day on XSP. I like the cash settlements.
 
Solution

Vanas08

New member
I use TOS for SPX and XSP scalps. I don't have a problem. Bid .05-.10 higher then current bid and exit Same unless I'm holding to settlement. I usually only trade the last ten mins. On (0Days) for SPX. All day on XSP. I like the cash settlements.
Thank you for sharing! I'll look into trying to hit .05-.10 above the current Bid. Thank you for letting me know about the time of day as well :)
 

Similar threads

Top