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

    1. 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.

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