$SPY #Options— Today’s 389Call up 65% on the day trade.

This chart is set to display return per $1K in play in the white flag on the right axix ($654 for each $1000 in play), the #1Kdaytrade on Twitter, and the #10Ktrade in dollars in the green flag on the right axis ($6540 for each $10K in play).

All signals and trades in these (strikes and expirations change daily) are based on this simple:

TRADING STRATEGY

There are so many options strategies in the stock market the head spins — a straddle, a strangle, a naked and/or a covered put and/or call, a calendar, a condor, an iron condor, an iron butterfly (isn’t that a rock band?) and any combination of any of these for hedging purposes, for capital appreciation or preservation, for gambling. Mind boggling.

But buying options…

Buying options, just plain buying a call or a put, everyone will say is a “fool’s game.”

Regardless of whether a trader buys calls or puts on index ETFs like SPY or QQQ or IWM, or buys options on stocks, there are only three things that can happen — the option goes the trader’s way (good), or the option goes against the trader (bad), the option goes sideways with price decay over time (also bad).