Member-only story
The “broken record” SPY options day trade for the 5th time this month stuck on another 100% plus gain — 05/18/2023
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.
05/18/2023 — END OF THE DAY…
Today, it is the calls again.
The ITM 414CALL, expiring today, closed that day trade up 200%, a gain of $2040 for each $10K traded (see the chart below).
This is the fifth time this month the simple strategy noted above has gained more than 100% for the day trades. Five times in fourteen trading days. A 100% or more gain approximately every three days.
Yesterday was a 400% reversal gain (see the post below this one).
(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.)
