I'm new to option trading but when comparing put/call options on the S&P 500 (ETFs) or the Dow Jones Index (ETFs) available in the US and Germany, it seems like the Options in Germany are far superior.
For example, here are S&P 500 (ETF) options available in the US, which all seem to be issued by the CBOE:
Here are the bid / ask prices
Here are some I can buy in Germany:
Ways in which options available in Germany seem better: - Spread between ask and bid is much lower - They are mostly American Style, which means I can exercise them whenever I want (before expiration) not just on a very specific date. This gives me more flexibility to react to the market. - They are settled in cash, not actual ETFs which makes settlement easier
So here is my question: Do I have a complete misunderstanding of how options work or is there some market imbalance (e.g. the CBOE has a monopoly on index fund options in the US and that's why they are so much worse)?