It was another profitable week of trading for us at SPX Option Trader! We ended this past week with +64% ROI in our SPX Daily Outlook, +58% ROI in our SPY Daily Outlook, +6% ROI in our SPX Aggressive trader, +13% ROI in our SPY Aggressive trader, +102% ROI in our Late Day Trader, and +30% ROM in our SPX Spread Trader.

This past week, we only traded two days due to challenging market conditions, but each of our strategies still turned a nice profit. With both the presidential election and Fed meeting creating volatility, it was a week that required extra caution. On high-risk days, we prefer to stay on the sidelines rather than forcing trades, as knowing when not to trade is just as essential as knowing when to enter the market. Consistency and patience remain crucial for long-term success. We’re excited for the opportunities in the upcoming week for day trading SPX and SPY 0DTE options. Here’s a summary of our trades from this past week.

11/4/2024

Daily Outlook

We forecast a down day in the market and entered our positions just before 9:35 a.m. The market dropped very quickly and as we hit over +60% in our option positions we started using about a 20% trailing stop. As the market bounced, we exited our position just after 9:35 a.m. for +48% in SPX and +41% in SPY.  A very fast trade today, in and out in less than 5 minutes! It was another profitable day, and we look forward to what tomorrow 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 as the market moved and exited our positions just after 9:40 a.m. for +6% in SPX and +7% in SPY.  Another profitable day and we look forward to what tomorrow will bring.

Spread Trader

We exited our SPX Spread Trade early for a return -2% ROM.  Basically, a flat day and we look forward to what tomorrow will bring.

Late Day Trader

We entered a put option position at  2:30 p.m. The market bounced around and then started to drop. As we hit +100% in our option position we started using about 50% trailing stop, given the time of day and market activity so far in the day. As it started to bounce we exited our position at 3:40 p.m. for +46%.  That fast reversal was concerning, and why we chose to lock in the profit. So, another profitable day and we look forward to what tomorrow will bring.

 11/5/2024

No Trade today in any strategy due to  market conditions.

11/6/2024

Daily Outlook

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

Aggressive Trader

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

Spread Trader

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

Late Day Trader

We entered a call option position just after 2:30 p.m. The market bounced around and then started to rally. As we hit nearly +100% in our option position we started using about 40% trailing stop, given the time of day and market activity so far. As it started to pull back, we exited our position just after 3:15 p.m. for +55%. So, another profitable day and we look forward to what tomorrow will bring.

11/7/2024

Daily Outlook

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

Aggressive Trader

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

Spread Trader

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

Late Day Trader

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

11/8/2024

Daily Outlook

We forecast an up day in the market and entered our positions just before 9:35 a.m. The market bounced around, before finally starting to head in our forecast direction just after 9:45 a.m. As we hit over +40% we started using about a 25% trailing stop. The market stalled at the 1^st target level in the SPY just after 10 a.m., and as it started to pull back, we exited our positions just before 10:05 a.m. for +16% in SPX and +17% in SPY.  So, another profitable day, and we look forward to what next week 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 as the market moved and exited our positions just before 10:05 a.m. for +0% in SPX and +6% 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 +32% ROM.   Another profitable day and we look forward to what next week will bring.

Late Day Trader

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