[keymoo]

Depends on how much money you want to make and whether you are scalping, swing or position trading. A friend of mine moved from the Russell to the S&P 500 because of liquidity problems. You can expect anywhere from 20-100 contracts on the bid/ask on the Russell at any time and something like 1000-3000 on the S&P. These are very rough numbers.

The vol on your exchange does sound very low to me. It depends on how many contracts you want to trade and what style of trading you want to use.