The $10K Day-Trade – $SPY Options on Fridays

This is all about buying calls and puts for day trades.

And again, ITM 261 SPY weekly option, expiring today, has vaulted past 100% for the day for another trending day (see other posts below).

The white flag on the lower right of the chart below is the dollar gain today so far per $10K traded, also the percentage gain.

The key to these trades is they are day trades in the most liquid call or put, in or at the money, on the nearest expiration to minimize time decay and to get the biggest bang for the buck; using whatever entry a trader is comfortable with, using a stop loss to guard against big losers; and finally taking full or partial profits when one has them, on a breakeven reversal, or on a trailing stop, or into too much strength, but no later than the close of the day.

The day trades on Friday have accounted for 57% of the gains this year.

(click on the chart for a larger view)

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