TQQQ
★ Best for Small Accounts
Cheapest contracts by far. $234 for an ATM put gives you 1.41x effective delta exposure to QQQ. Good liquidity with 2k-15k daily volume at ATM strikes. Spreads are tight enough for quick entries. Jason's pick for sub-$1k accounts.
SPXL
⚠ Avoid Unless Sizing Up
Thin liquidity kills this one. 50-200 contracts daily at ATM is brutal. Bid-ask spreads of $0.50-$2.00 eat into edge fast. Only viable if you are doing larger block trades where you can negotiate fills. Slippage risk is real.
SPY
★ Best for Precision
Tightest spreads in the game ($0.01-$0.05). 50k+ daily volume at ATM. You pay more per contract ($1,400 ATM) but execution is pristine. Best for accounts over $5k where you need clean fills and tight risk management.
QQQ
● Good Middle Ground
$1,000 per ATM put with 20k+ daily volume. Tight spreads ($0.02-$0.10). Good for tech-heavy directional bets without the 3x leverage complexity. Solid choice for $2k-$5k accounts that want clean Nasdaq exposure.