SPY daily scalping using weeekly ITM (In the Money) options

[allenbv18]

Here was today's short (puts)



This position is using the delta 70 weekly puts (186.50)
Enter on candle @ 1.46 10lot
Exit half on underlying trend line break @ 1.61 +.15 (+75)
Exit remaining @ 2.00 +.54 (+270)

[AnaBraswel]

Shameless self plug I suppose but Aaron is the options moderator in the SFB Traders Premium Trading Room. Pounds out these types of trades on a daily basis plus follows big money options trades. He runs his own site with daily watchlists as well.

[AngDype]

Used >70 delta options (185)
BTO and filled (Market) (3@.90 & 7@.97)

Position currently up .69 ($690)

[Anthonyfamy]

Manual exit STC and filled Market fill @ 1.81 +.84 (+$840) using $970 in capital almost 100%

Trade position time: 40 minutes


EDIT: Looks like a may of been pre-mature with that exit. As I was expecting the market to be done. ALGO will not take another trade as it thinks it is still long. Bug I may need to fix.

Algo position cleared manually. As SPY looks to be setting up for another try.

[Aqndionlj]

This one stop loss is on T/L failure

EDIT: Will do a manual exit if we break the 187 level on that run. Also forgot to mention the options used:
BTO and filled 186.00 calls (Market order) @ .90