A “Kiss Kiss Bang Bang” 08/28/2023

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 (the OPEN SIGNAL) and the option strike’s low of the day (the LOD SIGNAL).

The LOD signal is complicated but can be spectacular.

The OPEN SIGNAL is clear and easily executed. If the call options are above their open, buy those; if the put options are above their open, but those.

08/28/2023 — End of the day…

I call it that because the late great New Yorker film critic, Pauline Kael, used to say movies were all kiss kiss bang bang because that was where the romance and the action was.

I used the term to describe options action in which both sides, the puts and the calls, rack up gains of more than 100% in a single day.

It’s been a while but today was one of those kiss-kiss-bang-bang days…

Granted one would have to be very experience and very disciplined (to say nothing about “nimble) to pull this trade off (see the ins and out at the lows of the day and…