So I understand options, how they operate, and how to get started. My confusion is which stock/index to start out with.
Scrolling through this subreddit, tons of people say SPY or QQQ, my confusion is that these are extremely expensive. For example, to sell a call, you need to own 100 shares of that stock, if you were starting with SPY you would need 76200 of capital considering its 762 dollar price currently.
Is there lower cost options to start with than SPY? Why do people reccomend this if its so expensive to get into?