[smallmancontrov]

Didn't HFT compete itself out of outsized profitability years ago? So now we get instant super liquidity for pennies?

[PartiallyTyped]

For stocks most likely, though I assume a lot of it today comes from options traders, where the spread is much wider.

[chronic74939]

> Didn't HFT compete itself out of outsized profitability years ago?

No

> So now we get instant super liquidity for pennies?

Not pennies yet. Still dime and quarter range.

[zahlman]

Last I checked, the spread on SPY is on the order of <1 basis point.