The “broken record” SPY options day trade — calling all bulls for 400%— 05/17/2023

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.

5/17/2023 — During the day…

It’s probably too early to say it but I’ll say it anyway — this bear market looks as if may have turned into in a bull market this year.

When the NYMO and NYSI, my prime market-breadth indicators, are working the way they “should” they are great and when they are not they are even better. As the broadest measure of market breadth, which is say, market psychology — fear, greed and time — they also reveal when something bigger may be going on behind the indicators.

When the NYSI is falling the history and expectation is the market and most of its stocks will fall with it.