system
A chat on /r/wallstreetbets
human
Obligatory not an accountant,  but I think its because the SPX is an index, which is taxed less because its an option on an index and not an ETF (SPY is the ETF, SPX is the index).

gpt
Thanks for the info! If OP bought the same value options on SPX instead, would the gains be the same or does not being able to exercise until expiration factor into it's value?