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THE ENTRY SIGNAL

If the SPY call or QQQ call or a STOCK call is above its open, buy the calls. If the SPY or QQQ put or a STOCK put is above its open, buy the put.

(The purple line on the chart below is today’s open.)

THE PROFIT TARGET

At least, a 100% gain for the day.

THE SELL SIGNAL

Never hold overnight. It is a day trade no matter what.

TODAY’S SIMPLE OPTION DAY TRADE

The SPY ITM 561 CALL, expiring today, ground up all day waiting for the FED decision, and without that small uncertainty out of the took off to the upside.

As I write this it has registered the 100% win for the Simple Options Day Trade.

On the chart below the white flag on the right axis is the current trade, the green flag the closed trades, for each $1K traded.

BUT IS IT THE FED, OR IS IT THE NYSI?

The long-time Wall-Street saying goes “Don’t Fight The FED.”

Well, I have many times also suggested “Don’t Argue With The NYSI.”

The NYSI turned up the day before yesterday giving a buy signal for yesterday’s open and, even though stocks sold off intraday yesterday in these uncertain times, the NYSI buy signal held up.

So today’s run up should be no surprise.

P.S. This trade chopped down into a $458 day trade at the close.

(Click on the chart for a larger view.)

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Michael Petryni
Michael Petryni

Written by Michael Petryni

Journalist, film critic, screenwriter, proprietary trader seeking simplicity in trading. https://thegodoftrading.medium.com/subscribe

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