$SPY options – massive trending day

In what I have tongue-in-cheek called the “Fool’s Game” I define trending days as any day the system of buying puts or calls goes past a 100% gain.

“THE FOOL’S GAME”

Just now today went flying past 200% on a $10K buy in the 4/25 SPY 268 at-the-money put, expiring tomorrow. See chart below, the white flag on the lower right is the current gain per $10k invested, also the a percentage calculation.

I may have to change the name of this game to “Options Trading with Henry David Thoreau” — as in “simplify, simplify, simplify.”

(click on the chart for a larger view)

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