u/N_kingart_ ·
Reddit — r/options
· July 18, 2026 at 09:03
· ⬆ 1 pts
· 💬 12 comments
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AI Summary
Summary
Community discusses SPY vs SPX for credit spreads, focusing on correct ratio (1:10)
Single highly upvoted comment shows SPY call spreads yield higher credit than equivalent SPX spreads (0.38 vs 3.55 scaled)
No directional bias; the thread is a mechanical comparison of spread construction and premium
Score1
Comments12
▶ Full Post Text
[+5] u/papakong88: Your conversion is wrong. SPX is 10 times SPY. A 50 point wide SPX spread is equivalent to 10 5 point wide SPY spread.
Using the July 24 calls to compare.
SPY 758/763 call spread = 0.38. 10 x = 3.80. Delta of 758 is 0.096.
SPX 7610/7660 call spread = 3.55. Delta of 7610 is 0.093.
Proceeds of SPY > SPX.
SPY credit spreads (e.g., 5-point wide) produce larger premium than 50-point SPX spreads when properly scaled (10× SPY = SPX) For traders selling credit spreads, SPY offers better risk-adjusted credit, but the advantage is purely structural, not directional Prefer SPY over SPX for selling credit spreads to maximize premium collected per unit of risk SPX options have cash settlement and lower margin requirements; the premium difference may not be significant after transaction costs
This Reddit post, published July 18, 2026,
features r/options community
discussing SPY.
1 trade idea extracted by AI with direction and confidence scoring.