Being Nimble and Quick pushes the $SPY #Options #DayTrade to another 100% gain as per the “Simple Strategy” — 02/26/2024
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.
02/26/2024 — End of the day…
The NYSI turned down again today, after only two days up continuing a whipsaw as the NYMO crosses back and forth at bit above the open, then a bit below.
For market timing using the usually reliable NYSI to measure swings in market psychology this is the worst case scenario for the market.
Regardless, the turn down today is a sell signal for tomorrow’s open.
However, today’s SPY 510PUT moved above it’s open early and stayed there all day as it climbed to a 100% gain at the close, $1,040 for each $1K traded (see the white flag on the right axis of the chart below).
That’s about all I to say about the general market today.
Another 100% options day trade for being nimble and quick.
(The white flag on the chart’s right axis show the dollars/percentage gain for each $1K put in the trade. Click on the chart for a larger view.)