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Trending days in the "Fool's Game"


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#1 diogenes227

diogenes227

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Posted 10 March 2018 - 08:53 PM

From the link:

 

 

The market Friday broke to the upside at the open and never looked back.

 

As a result it was what I’ve now come to call in my mind a “perfect trending day” in what I ironically call the “Fool’s Game”. That is to say since I started trading and tracking weekly SPY calls and puts solely as longs and solely as day trades to avoid as much time decay as possible, it is a day when the in-the-money option gains more than 100% on the trend for day.

 

Friday’s expiring weekly SPY 275 calls vaulted on my day-trading signal into the close for 252% profit on the day trade. That is $25,200 for each $10K traded, in this instance 93 contracts (see the white flag on the lower right of the 10-minute chart below).

 

For the chart and so much more:

 

TRENDING DAYS IN THE BUYING OF CALLS AND PUTS


Edited by diogenes227, 10 March 2018 - 08:55 PM.

"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."