Starting in mid-August only playing 2-3 DTE SPY using the bull strategy of buying calls after the first half hour of market (10-1030 ET) or at lunch time (12 ET) and selling at market open the following day.
Avoided playing on the weekends, especially holidays.
Initially played with margins, putting in an average of about $88k per play. Bringing in anywhere from $2k to $60k.
When above $20k:
$4k went into 3 month CDs to hold for taxes.
$4k went into my Wendy's Biggie Meal fund.
Last week of August, I started a bear strategy.
August 29th, broke pattern and yolo'd $88k into SPY puts.
Sold my puts at lunch, and bought 200 OTM SPY puts at the end of the day leaving about $60k in cash to avoid being flagged as daytrader from now on.
Let's see how the rest of the month goes
https://i.redd.it/lpzyug5fgqmd1.jpeg
Posted by robot141
14 Comments
Well done.
![img](emote|t5_2th52|52627) here’s your fries sir 🍟
good now send me $100 for my meal
You are now giving me an award as treat!
How? Like how do you know?
Damn meanwhile I’m another 20% down this week
Congrats regard share trades or ban
Off the hook🏄🏼♂️
Good stuff bro 🥤🍟
Well played! so… are you gonna lose it all? or are you gonna leave the sub? 🦧
So more puts today?
Hell be broke by next week.
see even regards who don’t know how to screen shot can make profit
Nice play Boss
So, question. Rather than doing SPY puts, why not bet on VIX or VXX calls? I started doing a similar strategy to you but I’m just a small fry andbetting on volatility rather than SPY because the payouts seem to be better. https://imgur.com/a/Y23b2Lh
If I had bet more, I obviously could have made more but the scaling of return seems much better for a relatively small market swing.