The #SimpleOptionsDayTrade — an oversold bounce runs an $AAPL call up 100% — 3/27/2024

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.

The Simple Options Strategy

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 the calls; if the put options are above their open, buy the puts.

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

3/27/2024 — During the day…

AAPL, getting bruised and battered, in a fall from 199 to the 172, a lot for the one-time darling of every index, bounced off its open today. It wasn’t much, 1.5% but it doesn’t take much to move its options.

So what?

So its weekly ATM 170CALL, expiring Friday, racks up a 100% gain on a buy right at the open.

The rest of the market slid down from its opening gap but the AAPL CALL has held its gain so maybe this is a bottom (a double one at that) for this market behemoth?

Regardless, this is what the Simple Option Strategy for buying options and having a watch list of the most liquid stocks is all about.

See the white flag on the chart’s right axis below for the dollars/percentage gains for each $1K traded.

With persistence, experience and discipline, one might make a living day trading this strategy.

(Click on the chart for a larger view.)