The $SPY #Options #DayTrade just logged a 100% gain as per the “Simple Strategy” — 02/22/2024

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 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.

02/22/2024 — During the day…

Ah, NVDA, NVDA, NVDA…and an oversold #Nifty50StockList and despite a whipsawing NYSI, the market blasts up again.

This is the value of day trading the “simple strategy”:

It doesn’t matter what anyone guessed NVDA would do on its earnings announcement after the close yesterday. Or what anyone thought would be a fair assessment of its earning.

All that mattered was how the market would react today, and that would be registered simply by whether the calls or the puts would be above their opens just after the open today.