New month same old story in the $SPY #Options #DayTrade…09/01/2023

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

That’s it, but use a stop-loss to control risk.

09/01/2023 — End of the day…

The SPY 454PUT peaked at up 180%, was up 167% when I posted this on X (Twitter), and faded at the close to up 95% on Friday.

Along the way, there were plenty of opportunities to fold ’em to lock in the 100%-gain profit target for the strategy above.

(The white flag on the chart right axis shows the dollar/percentage gain for each $1K traded at that point in the day trade.)