The “broken record” SPY options day trade — another 100% gain “for the record”— 04/28/2023

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).

The LOD signal is complicated but can be spectacular.

The Open Signal is clear and easily executed. If the call options are above their open, buy those; if the put options are above their open, but those.

04/28/2023 — END OF THE DAY…

The SPY 411CALL, expiring Friday, was up 160% when I tweeted the tweet below.

On the close it ended the day trade up 143%.

(I am recording for reference the strategy’s day-trading result on 5/1 because I didn’t get around to it on Friday, 4/28.)

The TWEET Chart:

(The white flag on the chart’s right axis shows the current dollar/percentage trade for each $1K traded. The green flag shows the closed trades today. Click on the chart for a larger view.)