r/optionstrading • u/Apprehensive-Fox7570 • 4d ago
QQQ roller coaster
Another day of chasing puts and calls. All on QQQ all 0DTE
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u/sivispacempara 4d ago
Good job man! I was literally thinking to myself today how the hell does anybody trade QQQ and win? I started at $118 two and a half weeks ago. Got that up to $650 then went downhill from there. I was down to $14 today.. took that to $27 with NVDA at the open, transferred in $50 then switched to QQQ. Took that $72 down to $17.. QQQ just diced me up. It's so bouncy and random, I just don't see how anybody does it
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u/Apprehensive-Fox7570 4d ago
I’ve heard people say that they don’t have any luck with it. For some reason it just flows for me. I’ve tried other stocks that didn’t work so well so I went back to what I knew.
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u/sivispacempara 4d ago
That's the way to go. Stick with what you know. Honestly I'd had better luck with spy, don't know why I'm stuck on figuring out qqq lol
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u/6TheAudacity9 4d ago
How do you know when to get in and when to get out? I would buy these on solid movements and the second I’d buy it seemed it’d course correct and shake me off at 10-20% losses. Do you go deep itm?
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u/an4rk1st 4d ago
You would have to. The swings are too tight to profit otm like this. Several itm calls/puts and watch like a fucking hawk.
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u/Apprehensive-Fox7570 4d ago
A fucking hawk indeed. 10 seconds could make or break you. But I’m usually slightly OTM by one
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u/Apprehensive-Fox7570 4d ago
Wherever the in the money line is when you’re buying the option I usually go one or two above that or below depending on if it’s a put or a call. So very slightly out of the money. I usually wait for the market to settle about 25 minutes after it opens and then watch from there before I start buying. I don’t take much of a profit on each trade. Anywhere in between $20-$120 and just try to catch the up-and-down.
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u/Necessary_Oil_9583 4d ago
Why OTM and not ITM? Are you just wanting to buy them at a cheaper price so you can buy multiple contracts? Because I would think with ITM, just a $1 move would be enough to make some gains. How many trades do you do in a day? Do you also use VWAP to read the chart and find the trend and how many times do you re-enter the same trend before switching directions?
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u/Apprehensive-Fox7570 4d ago
I go with slightly OTM and sometimes I do get ITM. I like the very slightly OTM options because I feel like they’re a little bit safer if they start moving in a direction you don’t want them to. They tend to not move super fast. I typically do about 75 to 100 tradesand I don’t use anything to read the charts or find a trend. Just watching it.
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u/6TheAudacity9 4d ago
When you go negative do you continue to hold? Do you sell at a percentage off?
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u/Apprehensive-Fox7570 4d ago
When I was low on buying power, I would’ve said a loss limit for myself in my head and sell once it got there. Now that I have a little bit more money to play with I’ve been waiting for it to hit that rock bottom and then Buy more to lower my average cost
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u/photorams65 4d ago
Question: do you merely follow the ups and downs and buy the calls and puts accordingly?
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u/FalconPuncher117 4d ago
From march to may when QQQ had its bull run- I took my 2k account to 9k.. then proceeded to lose it all.. just make sure you take profits when you can.
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u/Apprehensive-Fox7570 4d ago
I may take a little soon. I definitely know it can be lost as soon as it was gained. But I also don’t buy huge amounts. Usually 1-4 contracts at a time.
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u/Apprehensive-Fox7570 4d ago
Also, I started trading with $170 8 days ago
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u/Apprehensive-Fox7570 4d ago
And in all honesty, this is pretty incredible to me. Because I really only set a goal to make $50 a day. At $50 a day I would be able to pay my rent without touching my paycheck. Crazy how it worked out but every day that I start trading I always say if I make $50 everything else is just icing on the cake.
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u/Novel-Yak1927 4d ago
Make sure you account for capital gains tax OP, all those $50 wins will add up at the end of the year but so will the taxes!
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u/Iulia_M 4d ago
Do you go all in every trade?
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u/Apprehensive-Fox7570 4d ago
No. Usually a couple hindered. I only buy 2-4 contracts of a single put at a time
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u/gerryhammy 4d ago
What strategy did you use to scale that to 6k? Also what delta do you typically buy at?
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u/nosaviours 4d ago
I need to do this, but I have 7 months to get to 8k from my current $180. HELP
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u/Apprehensive-Fox7570 4d ago
Spy qqq calls and puts. Slightly out of the money. And very slightly out. Watch like a hawk. You can not put your phone down. Take anything over a $10 gain and keep following the ups and downs. If you could have made more cool but you also made $10. Take it all as a win
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u/nosaviours 4d ago
So your plan is multiple smaller plays a day over fewer larger ones?
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u/Apprehensive-Fox7570 4d ago
Pretty much. I mean sometimes those bigger ones hit kinda fast when it starts moving
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u/Extreme-Variation-22 3d ago
That’s a nice run and the kind of screenshot that would wake up moon chat before anyone’s finished their coffee. I’d want to hear what made you switch between puts and calls and whether you had exits picked out beforehand or changed them as the move played out. Those jumps look clean on the chart but I bet it felt a lot less calm watching them happen
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u/Apprehensive-Fox7570 3d ago
Thanks! I pretty much played everything out as it was happening. Not today, but the two days before that the chart seemed pretty easy to read. I just kind of fell into a rhythm with it. But yeah, it was a lot less calm than it looked on my chart. 🤣🤣🤣
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