$QQQ keeps flying with the #SimpleOptionsDayTrade Strategy notching 160% on the day— 12/16/2024
They say buying options is a “fool’s game” and day trading options is impossible. So let’s say right off — they are wrong about that.
Today there was an entire array of QQQ Call options to choose from, all flying from the open. The green column in this image shows the moves made by the end of the day from the open for the calls, expiring tomorrow, on each strike.
Since these are all day trades, I like in or at the money strikes. In my mind, out of the money, although they can make bigger moves, carry too much risk and fall too fast when the QQQ pulls back during the day.
When the ETF flies like today out of the money strikes like the 536 call (see the image) are seductive but that’s in retrospect but retrospect is not real time.
Anyway, QQQ, like SPY, is a mainstay of options day trading because of its liquidity, variety of strikes, and tight spreads on each spread.
QQQ opened at 533 so the ATM 533 CALL was in play as it broke above its open right off the bat and took off to rack up its 160% profit on the close.
The white flag on the chart’s right axis shows the approximate dollars gained for each $1K put into the trade.
(click on the chart for a larger view)
