Another bloodbath, bigger, bloodier — but another great day for put buyers in the #SimpleOptionsDayTrade strategy — 08/01/2024

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 Options Day Trade 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, that’s all there is to this, but use a stop-loss to control risk.

8/01/2024 — End of the day…

Three bloodbaths in one week, last Wednesday, Tues this week, now today.

This one is bigger, bloodier.

All of the 3xLeveraged ETFs I follow — TQQQ, UPRO, FNGU, SOXL and so on — down!

Only five of the stocks in my Nifty50StockList were up on the day.

All of the 10 FANG stocks — AAPL, MSFT, TSLA NVDA and so on — except META were down, and META itself, despite earnings that gaped…