Again the $SPY #Options #DayTrade racks up more than 100% on an open signal buy — 07/07/2023

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).

The open signal is clear and truly simple.

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

07/07/2023 — END OF THE DAY

Again…

The 438CALL an 0DTE option on an open-signal buy, racked up a 120% gain at the close of the day trade, with the help of a $200 trailing stop, $1,238 for each $1K traded despite a first swing that signal that lost $196.

See the chart below.

(The white flat on the chart’s right axis is the dollar/percentage gain on the final swing. The green flag is the closed first swing.)