The “broken record” SPY options day trade, already repeated this month for another 100% plus gain — 06/02/2023

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.

There are two key levels to trigger an entry into a SPY options day trade — the option strike’s open and the option strike’s low of the day (the LOD).

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

06/02/2023 — END OF THE DAY…

Today, it is the calls…again.

With the NYMO and the all-important NYSI triggering buys on today’s open, the calls vaulted into big gains.

The SPY424, in the money, expiring Friday, started the day with a 41% stop-loss and still came back above its open to peak as high as 250% on its second trade and closed the day trade up nearly 180%, a gain of $1793 for each $1Ktrades (see the white and green flag on the chart’s right axis below).

How’s that for a run-on sentence?

Oh, well, it was a run-on trade all day in what has now become a very bullish context going forward.

Until further notice…of course.