Hey gents,
This is a textbook classic last minute lotto play with zero days until expiration.
Risk $80 At 3:57 pm I bought a SPX Put at $.80 one contract for $80.
At 3:59 I sold, $395 profit, first 5 bagger with SPX. It is called lotto because at the very end of the options life cycle, its gamma goes nuclear and you can get explosive gains- Example
There are 1000 percent gainers in the last 10 minutes of trading SPX. I had a Green Day , daily goal is $1k/day and I had hit my daily and then decided I could risk this $80 and just tingly after this trade. SPX 0DTE, I really love trading this asset and it provides boundless opportunities daily including the fun lotto time at the end.
(One of these puts my friend got at .35 and sold for $5!)
https://i.redd.it/war2wf5fpbkg1.jpeg
Posted by Tradewell3845
8 Comments
Bought SPX puts at the exact moment volatility died. My timing is so bad I could short gravity and make it go up.
Rode those .3 red candles at EOD….sorry for your loss bra….
That’s a lot of stress for making $400 a day. Also, what’s that spread? 3.6-5.5 lol
Is there a way to filter out all posts about options? I could give 2 shits what regarded gamblers do with their money.
I always look at these on the daily. You can turn a measly $20 bucks into hundreds sometimes. Late dip in the last 1-2 hours can yield good gains a few times a week.
Paper handed 30 calls
Locked in $500 instead of 6k
Good way to rack of massive trading costs. The idea that you can price volatility better than market makers is hilarious. 100% not a profitable strategy long term.
“At the end of option life cycle, gamma goes nuclear” – can u explain that to a newbie?