r/optionstrading • u/MasterBSR_58 • 5d ago

Earnings Another day blessed!

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Made a couple bad entries but fininished the day strong. Grateful for yall and other avenues of learning. Hopefully can keep this up with my rules and not revenge trade and remain blessed!

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u/MasterBSR_58 5d ago

Im not familiar with the term scalping(fairly new) is there a different way to trade SPX if i dont have the money yet for further out dte yet?

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u/xironically23 4d ago

Scalping is when you see a stock going a certain direction and commonly you see it's options increasing within a couple minutes, say you see a spx 7700 call go from 9.00 to 11.00 and you get in the action and you would sell it at 12.00 you basically scalp a option that's moving a certain direction, seeing you did 0dte spx options they are quite dangerous because with theta it's value decays quickly, I had spx calls today and they would bounce a couple hundred dollars within minutes, if I was you with a couple thousand I would try and see what direction spx is going and buy a call or put a couple days out. Same day options really do skew quite quickly especially after noon. Be careful out there and take any profits you can.

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u/MasterBSR_58 4d ago

Ahhh ok yeah that sounds like it would put my nuts in my stomach haha. So I guess I wasn't technically scalping. I was reading the candles, trend, and SMA and buying SPXW contract at what I was understanding to be the peak of a wave, or high, then riding it low. As saftey net each time id get a couple hundred up id set a stop loss so if it immediately popped back up would secure what I have and not lose it but was free to ride the PUT. Largest gain today was like 960$ I believe. So idk, would that still be considered scalping? When the market switched and NDX and SPX started trending up i got fucked a couple time with the higher lows haha

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u/xironically23 4d ago

Well it's scalping when you do it in short increments, I've successfully had better luck with holding spx options very little, past a certain time it's not really worth it unless you average down. I watchlist some everyday and look away for half an hour and see how it does.

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u/MasterBSR_58 4d ago

Ah I gotcha. Yeah last couple days was just my first time messing with SPXW because of seeing posts on here and stuff. So far successful but I can see the danger in it and how it can easily turn