No matter how simple the #SPY #OPTIONS #DAYTRADE some days just suck— 06/20/2023

The SIMPLE STRATEGY

They say buying options is a “fool’s game” and day trading options is impossible. So let’s say right off — they are wrong about that.

TRADES are based on this simple day-trading strategy to be on the long side of the calls and puts for day trades; and referenced in this story — I told a guy how to make 100% day trading options and I doubt he believes me.

There are two key levels to trigger an entry into a SPY options day trade — the option strike’s open and the option strike’s low of the day (the LOD).

If the call options are above their open, buy those; if the put options are above their open, but those.

06/20/2023 — END OF THE DAY…

With the NYSI still rising, the focus remains primarily on calls for the day trades…

The NYSI is on the 13th day of its rally from the open of June2nd.

Hmm…for some that could be a mighty superstitious number.

Maybe so, maybe so..

Today’s 436CALL chopped its way to two trades across the open and stopped them both for a 65% loss, a total of $652 down the drain for each $1,000 traded (see the green flag plus the white flag on the chart below).

How unlucky is that on the NYSI’s 13th day up?