Trading Sideways to New Highs

Getting behind on last week so catching up. Last week was choppy at the beginning so we had to capitalize on small moves. A couple plays didn’t work out but we did really well overall considering the low volatility.
We did get to play a M-W-F play all three expiration days last week, Friday’s was a little trickier with volatility at the end of the day. I put the closing price down but I closed the call side about ten minutes before close pretty cheap. Monday and Wednesday were fairly easy though.
Only one earnings play last week, HD, and they had a bad surprise and lowered forward guidance to boot so it went way outside the expected move. Was better to swing puts on the drift. Play the drift! Though I wrote it a loser, this one was easy to roll further out to collect more credit if you had the capital, or turn inverted.
Holding a DIS call butterfly from Friday that I’ll post the results for this Friday. Looking forward to a short week of gobble gobble trading!
weekly training_ scoobie signals

Less Trades Equaled More Profit This Week

We had a really good week this week. Traded a lot less, especially Monday with bank holiday. First of all, day trades were 100%. There were a lot less of them than last week, but the gains on each were good and SPY mostly went one way and there wasn’t a ton of setups. So we played that direction. Biggest winner was the call today which I actually played multiple times.
Next, our SPX MWF expiration day trades. I’m encouraged by all the people who said they started trading it this week, and yeah you don’t make that many trades and they are kinda boring but they make money! We haven’t had a loser since the group started and only needed to manage one. IV is really low right now so we aren’t collecting a ton of credit but we will take what the market gives us.
Earnings trades were okay this week, with the iron condors working great while CSCO and NVDA disappointed on their earnings move. JD butterfly played well if you closed it early.
On swing trades, we only opened one new swing and that was the SPY call yesterday following the big money trades. It worked out great obviously. But the best trade in my opinion was the free TSLA trade. It was free because we sold a put vertical to pay for the butterfly, essentially netting out the cost of the butterfly and creating a no-lose scenario. It ended up being a big profit on both the vertical and the butterfly!
All in all a great week with an appropriate number of trades and plenty of winners. Can’t wait for next week!

Choppy Week But Still Taking Wins

Well last week was tough because the market was mostly consolidating during the day. We had a few nice intraday moves but I was mostly annoyed at how sideways SPY was, plus there were plenty of patterns that just didn’t play out like our golden cross on Tuesday. Here’s the results from the day trade alerts. A lot more trades than usual because I was scalping and the range was tighter, so fains weren’t what they usually are.

I only played one SPX MWF trade because volatility is so low this week that there was never a good risk vs reward play, but by week end I finally decided to go for it since volatility proved to be low and it worked out.

Earnings trades have definitely slowed down but we did have a few and they all worked out pretty well. I enjoyed these sincethey were fairly low risk vs reward plays, and gave us a decent profit with 100% wins.

And lastly swings. I was able to close out some swings from last week, RAD worked out amazingly but gold has decided to go the opposite direction of its breakout and failed to continue, so I took a loss on that one. RAD and WFC more than made up for it though. I am waiting on gold to find support again before getting back in. And we have a few swings still open including our free TSLA swing!

All in all, day trading was tough but the other plays more than made up for it. It’s week like these where you size your day trades smaller since the market is tougher, and just wait for normal trading to resume. Swings and other plays are still working nicely.

SPY Market Recap | 11-4-19 | SPY Options Traders

https://spyoptionstraders.com Join the chat to get the pre-market analysis and daily trade plan, plus intraday live alerts on trades and more.

Looking for SPY to continue its bullish move into new all time highs. We have to be careful about where we expect SPY to find support and resistance. Today’s action was choppy as SPY consolidated but still bullish. Check out the video for more


FOMC and New Highs

Had a pretty good week last week, market was pretty boring though until Friday. With the market going up so high it’s surprising how many put day trades we made but they were mostly profitable. Most of the lift happened overnight so we were playing pull backs. Maintaining an above 80% win rate with two over 200% plays. Here’s the day trades:

We only did a couple SPX MWF plays because volatility is super low right now, but we had the Fed FOMC meeting day to play a nice iron condor. I also played a butterfly but it did not go as low as I expected, so I took a small small profit when I had a window to do so.

We have a few swing plays still holding, looking forward to new market highs!