With the #NYSI rising, the “broken record” SPY options day trade focused on the calls for an all-day ride to another 100% plus gain — 06/12/2023

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.

06/12/2023 — END OF THE DAY…

Just changed the date from 6/8 to 6/12 but the 100% plus remained the same.

Today’s 430CALL gained 150% on the simple day-trading strategy linked above, $1,512 for each $1K traded (see the chart below).

Probably the only note worth mentioning is the pattern on the chart. The call gaped down and wandered sideways across half the day before launching up across its open for the buy as per the strategy.

That, I would suggest, IS the influence of a rising NYSI.

In other words, buy the dips.

(The white flag on the chart’s right axis shows the dollars/percentage gains for each $1K traded. Click on the chart for a larger view.)