Was wondering how viable is that for smaller accounts to have more control of shares instead of buying them outright?
Given SPX/XSP are index funds with no shares, as they're European style options with no assignment risk and cash settled.
Or SPY is a better alternative due to more liquidity, in exchange of having assignment risk due to American style options? Assuming one don't use margin account at all, how would assignment risk works in this case if it happens?