$SPY simple day-trading options strategy back on track for a 100% plus winner— 09/19/2023

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, but those.

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

The low of the day signal (LOD) is much more complicated.

It takes a low of the day on the option strike and one other trusted indicator to confirm that this one, unlike lows of the day, is the one when the best chance of a reversal during the day. The “trusted” indicator IS the complication.

09/19/2023 — DURING THE DAY…

Today’s 444PUT has hit its 100% profit target, up 140% in fact (at the moment) $1,470 for each $1K traded (see white flag on the chart’s right axis).

And on a slow dead day before the FED tomorrow at that...

One never knows when a move is going to make its move but do the strategy and sooner or later, and sometimes again and again, one just gets “lucky.”