The record is stuck two days in a row for 100% in the $SPY #Options #DayTrade…08/23/2023

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.

The open signal is clear and truly simple.

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

That’s it, but use a stop-loss to control risk.

08/23/2023 — End of the day…

Yesterday, the puts, now the calls…

Today’s SPY 438CALL climbed as high as 140% before backing down to a mere 100% gain on the nose at the close.

Saved the chart below at just past mid-day.

(The white flag on the chart’s right axis shows the gain per $1K traded. Click on the chart for a larger view.)