I told a guy how to make 100% day trading options and I doubt he believes me — 5/18/2023 update

They say buying options is a “fool’s game.” So let’s say right off — they are wrong about that. The market and its stocks either go up or they go down. It’s amazing how hard it is to recognize that simplicity.

Michael Petryni
5 min readMay 12, 2023

Back to when this simple strategy first went public — posted on September 26th, 2021.

Today’s examples (more below the Reddit thread below):

5/18/2023 — During the day…

(The white flag on the chart’s right axis shows the current dollars/percentage gain for each $1,000 traded. The green flags show the closed trades. Click on the chart for a larger view.)

This started the Reddit thread on September 26th, 2021:

I’m looking for an explanation where a specific TSLA call option (and a few others OTM) dropped about 9% in value in just 2 minutes when the the underlying was actually going up.

A long discussion of the Greeks effect on options’ premiums in relation to the underlying stock (in this case, TSLA) including the usual…

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Michael Petryni

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