I would like to bet on the increase / decrease of the S&P 500 or the Dow Jones Index. Unfortunately, I can't seem to find any options that are somewhat affordable AND american style (can be exercised at any point, not only on expiration date).
- XSP options: European style
- SPY options: American style BUT the settlement is in SPDRs. In combination with the contract multiplier of $100, that means I would have to buy SPDRs worth $20.000+.
- E-mini S&P 500 options expiration dates are less than a year from now. I would like something a little more long-term, like 2 years.
- DIA options: American style BUT the settlement is in DIA shares, that's the same problem as with SPY options.
Does anyone know of S&P 500 or DJI options that are American style and for which I don't need $10.000+ to invest?