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Here is an articel on zerohedge I found, there is a link in coments there to a PDF file where some guy discusses mechanism in detail, haven't read it completely yet, but his main idea is that SPY and ES are better correlated with each other than either one of them with the SPX
and actually, I wouldn't be surprised at this point if options lead them all.....
Index options, Leaps , single stock futures options , the list is endless....
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
It's gotta be automated somehow. No one can keep track of the overnight underlying prices, dividend payouts, options, etc. and put it all together into what the opening price should be.
But, time after time, the indexes gap too close to the contract price (minus open interest) to be random.
They've got to be pegging it with algos or some sort of automated monitoring software.
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
The topic of 'buy programs' and 'sell programs' is not something I have a lot of experience with personally. Sure, I understand the big concept behind it, but I'd like to learn more about the reasons people pay attention to these …
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Hey Black Swan, I am in Boise as well. Was wondering if we could discuss trading, Im always down to share ideas and talk about things. Shoot me an email garrettmaxwell23 at gmail.com