PUT it there, Pal, another 100% in the $SPY #Options #Daytrade — 01/12/2024

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 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.

01/12/2024 — -END OF THE DAY…

What a week!

Be it in the calls or like today in the puts, every day was a 100% or more in “The Simple Strategy” for day trading SPY options.

Today’s 479PUT, after chopping along below its open, crossed up through the open for a buy at 6:55, Pacific Time, an took off up for more than the strategy’s 100% profit target.

(The white flag on the chart’s right axis shows the dollars/percentage gain for each $1Ktraded. Click for a larger view.)