It was another profitable week for us at SPX Option Trader! We ended this past week with +15% ROI in our SPX Daily Outlook, +7% ROI in our SPY Daily Outlook, -9% ROI in our SPX Aggressive trader, -19% ROI in our SPY Aggressive trader, -67% ROI in our Late Day Trader, and +51% ROM in our SPX Spread Trader.
Last week wasn’t a standout for any single strategy, but it was still a solid week overall. In day trading, it’s normal to encounter flat weeks or even small drawdowns. No trader wins 100% of the time, and we don’t aim for that. Instead, we focus on consistency and trust in our proven approach. By staying disciplined each week, we continue to build long-term success. Below are our comments for each trading day of this past week.
12/2/2024
Daily Outlook
We forecast an up day in the market and entered our positions just before 9:35 a.m. Initially the market ran in our forecast direction and as we hit +25% in our option positions we started watching the daily target level in the SPX as our stop level. We didn’t immediately exit as it first pulled back to that level. But as it broke it for a third time, we exited our positions just before 9:45 a.m. for -28% in SPX and -31% in SPY. Just didn’t go our way, so we shake it off and look forward to tomorrow.
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 9:55 a.m. for -41% in SPX and -46% in SPY. Just didn’t go our way, so we shake it off and look forward to tomorrow.
Spread Trader
We held our SPX Spread Trader position to the close for +30% ROM. Another profitable day and we look forward to what tomorrow will bring!
Late Day Trader
We entered a call option position just before 3 p.m. We hit over +70% in our option position and then the run stalled. We were watching the strike price of 6050 as well as using about a 100% trailing stop. We gave it some room to run, but as it started to pullback quickly, we exited our position just before 3:40 p.m. for +2%. Given the time of day and action so far, we weren’t willing to risk any further downside here. So, basically a flat day for us and we look forward to what tomorrow will bring!
12/3/2024
Daily Outlook
We forecast a down day in the market and entered our positions at 9:35 a.m. The market quickly went in our forecast direction, and we hit nearly +40% in our option positions. We started using about a 30% trailing stop to give it room to continue to run, but also protect ourselves. The market started to reverse direction and as it did, we exited our positions at 9:45 a.m. for +13% in SPX and +15% in SPY. 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 at 9:35 a.m. We adjusted our stop level as the market moved and exited our positions at 10 a.m. for -14% in SPX and -8% in SPY. A small drawdown today, we shake it off and look forward to tomorrow.
Spread Trader
We exited our SPX Spread Trade early for a return +12% ROM. Another profitable day and we look forward to what tomorrow will bring!
Late Day Trader
Just after 1:40 p.m., we entered a put option trade. Although the market initially moved slightly in our favor, it began to rally, ultimately resulting in a -100% loss by the close. Losses like this are never ideal, but they are a natural part of our high-risk, speculative strategy. This approach sometimes leads to larger losses, but it also offers the potential for significant gains. While today didn’t work out as planned, we remain optimistic and ready to approach tomorrow’s trades with renewed focus and determination.
12/4/2024
Daily Outlook
We forecast a down day in the market and entered our positions at 9:35 a.m. The market bounced around and finally started to drop just after 10 a.m. We started using about a 30% trailing stop to give it room to continue to run. The market started to reverse direction and as it did, we exited our positions just before 10:20 a.m. for +10% in SPX and +3% in SPY. 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 at 9:35 a.m. We adjusted our stop level as the market moved at exited our positions at 10:20 a.m. for -9% in SPX and 15% in SPY. A small drawdown today, we shake it off and look forward to tomorrow.
Spread Trader
We exited our SPX Spread Trade early for a return +2% ROM. Another profitable day and we look forward to what tomorrow will bring!
Late Day Trader
Just after 1:25 p.m. we entered a put option trade. The market quickly ran in our direction, and we hit over +100% in our option position. The market stalled near our strike price of 6065, and we were watching it closely. As it started to bounce off that level we exited our position just after 1:35 p.m. for +65%. Another profitable day and we look forward to what tomorrow will bring!
12/5/2024
Daily Outlook
We forecast a down day in the market and entered our positions at 9:35 a.m. The market bounced around and we hit over +20% in our option positions. We were watching the daily target level as our possible stop level. There was a very quick rally just before 10 a.m. and as it broke the daily target level we exited our positions just after 10 a.m. for -18% in SPX and -18% in SPY. The market ran a bit further, before falling in our forecast direction. We were able to capture some of this move in our Aggressive Trader. It is always frustrating to exit a trade, and then see it run as we expected. But that happens from time to time. That fast rally through the daily target level was a warning indicator, and we just weren’t willing to risk any further here. So, we shake it off and look forward to what tomorrow will bring!
Aggressive Trader
We forecast a down day in the market and entered our positions at 9:35 a.m. We adjusted our stop level as the market moved at exited our positions just before 10:45 a.m. for +23% in SPX and +20% 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 +7% ROM. Another profitable day and we look forward to what tomorrow will bring!
Late Day Trader
Just after 3:25 p.m. we entered a put option trade. The market quickly ran in our direction, and we hit over +50% in our option position, and then the drop stalled. Given the time of day, we were watching this very closely. The market started to rally just before 3:35 p.m. and as it did we exited our position for -33%. We just weren’t willing to risk any further downside given the volatility and time of day. Just didn’t go our way, so we shake it off and look forward to what tomorrow will bring!
12/6/2024
Daily Outlook
We forecast an up day in the market and entered our positions before 9:35 a.m. due to market conditions. As the market ran in our forecast direction we started using about a 30% trailing stop. We adjusted this as it ran, moving it to about a 20% trailing stop as we hit over +60% in our option position. The market started to pull back and as it did, we exited our positions at 9:50 a.m. for +38% in SPX and +38% in SPY. 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 before 9:35 a.m. We adjusted our stop level as the market moved at exited our positions just before 10:05 a.m. for +32% in SPX and +29% in SPY. Another profitable day and we look forward to what next week will bring!
Spread Trader
No Trade for us today as the market moved too fast and we were unable to enter the trade at or above our minimum credit.
Late Day Trader
Due to market conditions, there was no trade for us today.