It was a mixed performance this past week at SPX Option Trader. Our Late Day Trader strategy stood out with +98% ROI, while other strategies faced drawdowns: -50% ROI in SPX Daily Outlook, -46% ROI in SPY Daily Outlook, -56% ROI in SPX Aggressive Trader, -51% ROI in SPY Aggressive Trader, and -123% ROM in SPX Spread Trader. Despite the challenges, our Late Day Trader strategy once again delivered consistent profitability.

This week, some of our strategies experienced drawdowns, marking the first down week in six weeks for the Daily Outlook. Such fluctuations are a natural part of the ebb and flow of day trading. While losses are an unavoidable aspect of trading, our long-term performance highlights consistent success. By maintaining discipline and adhering to proven strategies, we continue to navigate market challenges with confidence.

As we gear up for another exciting week of day trading SPX and SPY 0DTE options, we remain committed to our strategies. Below, you’ll find a detailed summary of this past week’s trading activity, highlighting our results and performance.

11/11/2024

Daily Outlook

We forecast an up day in the market and entered our positions just after 9:35 a.m. We hit nearly +25% in our option positions and started using about a 30% trailing stop due to volatile market conditions. The market started to pull back and as it did, we exited our positions just before 9:45 a.m. for -8% in SPX and -5% in SPY.  The fast reversal through the daily level was concerning, and we just weren’t willing to risk any further downside here. So, a small drawdown today and we look forward to what tomorrow will bring.

Aggressive Trader

We forecast an up day in the market and entered our positions just after 9:35 a.m. We exited our positions at 9:55 a.m. for -40% in SPX and -33% in SPY.  Just didn’t go our way today, so we shake it off and look forward to what tomorrow will bring.

Spread Trader

We held our SPX Spread Trader position to the close for -65% ROM.  Just didn’t go our way today, so we shake it off and look forward to what tomorrow will bring.

Late Day Trader

We entered a call option position just before 2:35 p.m. The market bounced around and we hit just over +30% in our option position. The market was struggling to stay above the 6000 level, which was concerning. So, we were watching this level very closely and as it started to drop, we exited our position at 3:25 p.m. for -38%.  That fast drop off 6000 level was concerning, and why we chose to exit at this point. Just didn’t go our way today, so we shake it off and look forward to what tomorrow will bring.

11/12/2024

Daily Outlook

We forecast an up day in the market and entered our positions just before 9:35 a.m. As we hit over +30% in our option positions we started using about a 30% trailing stop due to volatile market conditions. The market started to pull back and as it did, we exited our positions at 9:45 a.m. for +12% in SPX and +14% in SPY.  So, another profitable day and we look forward to what tomorrow will bring.

Aggressive Trader

We forecast an up day in the market and entered our positions just before 9:35 a.m. We adjusted our stop level as the market moved and exited our positions just after 10 a.m. for -11% in SPX and -10% in SPY.  A small drawdown today, we look forward to what tomorrow will bring.

Spread Trader

We held our SPX Spread Trader position to the close for -65% ROM.  Just didn’t go our way today, so we shake it off and look forward to what tomorrow will bring.

Late Day Trader

We entered a call option position at 1:35 p.m. The market quickly went in our forecast direction, but the rally stalled just above the 5990 level. After hitting nearly +120% we were watching this closely. We wanted to give it room to continue to run, but also protect some profit if it turned. The market started to pull back and as it did, we exited our position just after 2 p.m. for a nice gain of +80%. So, another profitable day and we look forward to what tomorrow will bring.

11/13/2024

Daily Outlook

We forecast an up day in the market and entered our positions just before 9:35 a.m. We were watching the SPY daily target level as our possible stop level. As it broke that level we exited our positions just before 9:50 a.m. for -22% in SPX and -25% in SPY.  Just didn’t go our way today, so we shake it off and look forward to what tomorrow will bring.

Aggressive Trader

We forecast an up day in the market and entered our positions just before 9:35 a.m. We exited our positions just after 10 a.m. for -48% in SPX and -52% in SPY.  Just didn’t go our way today, so we shake it off and look forward to what tomorrow will bring.

Spread Trader

We exited our SPX Spread Trade early for a return +30% ROM. So, another profitable day and we look forward to what tomorrow will bring

Late Day Trader

Due to market conditions, there was no trade for us today.

11/14/2024

Daily Outlook

We forecast an up day in the market and entered our positions just before 9:35 a.m. We were watching the SPY daily target level as our possible stop level. As it broke that level we exited our positions just before 9:40 a.m. for -23% in SPX and -19% in SPY.  Just didn’t go our way today, so we shake it off and look forward to what tomorrow will bring.

Aggressive Trader

We forecast an up day in the market and entered our positions just before 9:35 a.m. We exited our positions just after 9:40 a.m. for -51% in SPX and -47% in SPY.  Just didn’t go our way today, so we shake it off and look forward to what tomorrow will bring.

Spread Trader

We held our SPX Spread Trader position to the close for -68% ROM.   Just didn’t go our way, so we shake it off and look forward to tomorrow.

Late Day Trader

Due to market conditions, there was no trade for us today.

11/15/2024

Daily Outlook

We forecast a down day in the market and entered our positions just before 9:35 a.m. We were watching the daily target levels as our possible stop level. As we hit +30% in our option positions we started using about a 40% trailing stop. We wanted to give it room to continue to run, but also protect ourselves if it reversed direction. We didn’t exit at the first touch of that stop level, but as it hit it again just before 9:50 a.m. we exited our positions for -10% in SPX and -10% in SPY. That reversal took us out, just before the market ran in our forecast direction. Greater profit was possible for those willing to give it more room here, and we were able to capture some of that move in the Aggressive Trader. A small drawdown today, we look forward to what next week will bring.

Aggressive Trader

We forecast a down day in the market and entered our positions just before 9:35 a.m. We adjusted our stop level as the market moved and exited our positions at 10:15 a.m. for +94% in SPX and +91% in SPY.  Another profitable day and we look forward to what next week will bring.

Spread Trader

We held our SPX Spread Trader position to the close for +44% ROM.   Another profitable day and we look forward to what next week will bring.

Late Day Trader

We entered a put option position just after 1:30 p.m. The market started to go in our forecast direction, and we hit over +100% in our option position. Given the market action thus far in the day, we started using about a 50% trailing stop. The market started to reverse course very quickly, and as it did we exited our position just before 2 p.m. for a gain of +55%. So, another profitable day and we look forward to what next week will bring.