### Comment:
Oops my bad, meant to say SPY options*  
  
 So between SPY options and ES, given their difference in tick value, it seems like ES would be the no brainer?

### REPLY:
If you're willing to risk that much yes. 
  
 10 SPY contracts = 2 /ES contracts = 1 SPX contract 
  
 If you're trading dozens of SPY contracts you should definitely consider something else. 
  
 EDIT:  Keep in mind that both SPY and /ES contracts settle physically.  1 SPY contract is 100 SPY shares, and 1 /ES contract is 1 /ES future.  /ES futures also have an 'expiry' and settle to cash.

### END.