Quote:
Originally Posted by lewdog
That's a nice looking profit on that AMZN option. Good job.
What I notice about trading options is that I will day trade/scalp options for 10-20% gains when the market is choppy. Sometimes this is a buy and sell that only takes 5-10 minutes. If there's good direction or better setups, I will swing them a few days out. I did a META call on Wednesday near close and sold this morning for a 200% profit. I sat out the rest of today and I am glad I did.
I have a CVX option that I have held for a week that's up 66%, I sold 50% for profit and will hold the rest longer than most with oil pumping.
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I found that I get more consistent gains day trading SPY calls about 45 mins after open when the choppiness is usually in full effect. I'll watch it on a 1 minute candle and try to buy a call a couple days out a few dollars OTM when the rsi starts to bottom out. I don't wait for a big gain, 3-10% is good enough for me and I'll sell it a few minutes after buying.
This past week SPY has seemed to start out great, and then shits the bed the last 10 minutes of trading. Tomorrow I'm going to buy some 0dte puts and hold em until the inevitable daily meltdown.