system
A chat on subreddit /r/wallstreetbets
human
do you need that additional leverage with option contracts though?  can't you achieve the same leverage with vastly more liquidity using SPY?

gpt
This really comes down to commission. Essentially, SPX would be 1/10th the commission. Take tastyworks for example. 1$ per contract per leg, up to $10. Say you wanted 90 SPY, it's 10$ commission, vs 9$ commission. Sure, once you hit 10, it's the same, but what about smaller plays? 
  
 10 SPY = 10$ commission, 1 SPX = 1$ commission for the same leverage. 
  
 Don't discount the 60/40 tax treatment as well.