A watch list, the “Simple Options Strategy” and a 100% day trade— today $META — 5/01/2024

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.

The Simple Option Strategy

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.

The open signal is clear and truly simple.

If the call options are above their open, buy the calls; if the put options are above their open, buy the puts.

That’s it, but use a stop-loss to control risk.

THE WATCH LIST

The column to the right of the option prices shows the percentage rise or fall for each strike since the open today at the moment I took this screenshot.

5/01/2024 — During the day…

I usually put these weeklies, expiring Friday, into TradeStation on Monday and let them stay day by day. And since the buy signal is the strike above its open, this is a watch each today.

Some adjustments to the strikes on some days because of the market movement. The adjustments are to get them closer to the prospective opens of the…