Both the $SPY and the $QQQ PUTS have logged 100% in the “Simple Strategy” #Options #Daytrade — 02/20/2024

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.

Michael Petryni

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The Simple 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.

02/20/2024 — During the day…

The SPY 498PUT and the QQQ 430PUT, both expiring today, just ticked off their profit targets at a 100% gain.

There could be more since the day is young but a profit target is a profit target.

See the white flags on the right axis of the charts below measure the dollars/percentage gains for each $1,000 traded.

(Click on the charts for a larger view.)

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Michael Petryni

Journalist, film critic, screenwriter, proprietary trader seeking simplicity in trading. https://thegodoftrading.medium.com/membership