For the past three days SPY puts have been itching to go up, and today they went.
See the blue-gray bars on the chart below going into the close yesterday for an example. That’s the way the color-coding has been all three days.
At the moment, the in-the-money 292 put for Friday’s expiration is up 110%, $10K-Plus for each $10K in play.
I define a “trending day” as anytime the calls or puts on the day trade close up with a profit of more than 100% on my system trigger. That, of course, is yet to be seen today (will update on the close).
UPDATE ON CLOSE: The 292 put closed up 95.09%, $9509 per $10K traded, just missing being an official trending day. It peaked during the day at up 190.5% and gave and intraday stop at up 134.9% (see the end of the blue/gray bars on the updated chart below).
As a result, trending days so far this year remain at 27.
Day trading options on the closest expiration is always volatile.
(right click on the chart for a larger view)