How to interpret option quotes on S&P 500 equity index?
I am interested in buying a few Puts on the S&P 500 equity index (probably about 10% to 15% below the current level of the S&P) as a form of cheap portfolio insurance for my own equity exposure. I opened an account at OptionsXpress. And, could not readily find quotes for the S&P 500 options. I asked them for some assistance. You can send them questions that they answer within a business day. I gather my question was too stupid or something. So, I went to the CME and looked at the quotes there at the link shown below for all strike price levels for the March options. http://www.cmegroup.com/trading/equity-index/us-index/sandp-500_quotes_globex_options.html?exchange=XCME&foi=OPT&venue=G&productCd=SPH0&underlyingContract=SP&floorContractCd=SPH0&expMonth=201003 However, I could not readily interpret and understand the quotes as shown. Also, I was surprised and disappointed that I could not readily find S&P 500 options for much beyond just a few months. I am actually interested in options w
