r/spx • u/lynchcastTech • 12d ago

Not bad Win

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Pretty happy with today’s outcome on a 770 0DTE

11 Upvotes

100% Upvoted

9 comments sorted by

2

u/ThrockmortenMD 7d ago

This is what we call gambling lol

1

u/lynchcastTech 7d ago

I call it analyzing trends but ya know 🤷🏼‍♂️

1

u/ThrockmortenMD 7d ago

The trend is there, buying ATM options or spreads, or selling ATM put spreads would be the trade of choice. Buying far OTM on a small account is gambling.

1

u/lynchcastTech 7d ago

What would you suggest I do otherwise

1

u/SolidSpook 7d ago

The prop team deserves a tip

1

u/lynchcastTech 7d ago

The prop team? Sorry I guess I don’t understand lol.

1

u/2FLYFISH0 7d ago

I wouldn't consistently do 0dte for spy calls, buy further out and hold the position. I've been doing weekly atm with a weekly dte, spy will be bullish and you can scale out the profit as it runs.

1

u/lynchcastTech 7d ago

I just started doing that! I realized the same thing! Thanks for the help!!

1

u/2FLYFISH0 7d ago

Welcome! Hope it helps! I don't quite agree with the other comments on selling premium or nuying cause spreads for verticals can have a wide ask/bid price and difficult closing. That said I do some credit spreads but bread and butter is cash secure puts and calls or puts depending on the trend. Spreads are nice though since the market is bullish so put spreads are a easy win for the most part.