Calling all $SPY Calls after two 100% Put days — 11/10/2023

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.

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.

11/10/2023 — AFTER THE CLOSE

Two days in a row, puts for more than 100%…

As J.P. Morgan is reputed to have said: “The market will fluctuate.”

So once again, it did fluctuate.

As noted in yesterday’s post below, with a rising NYSI and a NYMO dipping for four days (enough in the context of the rising NYSI), it was time for the current NYSI rally to resume Friday.

So once again, it did fluctuate.

Friday’s SPY 436CALL registered a 383% trending day traded by the Simple Strategy entry in the trading system presented above. That is $3,839 profit on the in-the-money call for each $1,000 traded.

Fantastic!

(The white flag on the chart’s right axis records the dollars/percentage trade for day trade. Click on chart for a larger view.)