Day trading blue chip stocks on a budget

Discussion in 'Stocks' started by VinceField, Jan 1, 2021.

  1. I'm looking to make a list of blue chip stocks that move consistently and significantly enough to day trade to put my focus on, rather than jumping around to whatever low float stock is making moves that day. My plan is to trade options- calls and puts, rather than buying shares, but my capital is limited, so stocks like Tesla with very expensive options might not be ideal for me. I would appreciate any suggestions of either stocks that you recommend, or resources where I can find what I'm looking for. Thanks!
     
  2. traider

    traider

    TSLA OTM calls paid off handsomely and they were cheap once
     
  3. guru

    guru

    Seems contradictory. Blue chip stocks either don’t move much, or grow to the point when they’re expensive. If they’re not expensive then they don’t move, or move both ways and are risky or not much different than any random stock you may pick.
    Though this year everything was moving pretty crazily. If you want to trade both ways then any hospitality/entertainment/travel industry stocks are moving a lot. Also healthcare.
    If you want something safer than any large tech companies, also BA.
    While you can trade option spreads to make it less expensive on any stock, including TSLA, SHOP, etc.
     
  4. easymon1

    easymon1

    What timeframe charts do you like to trade?
    Do you have a few entry methods ready?
     
  5. One, two and five minute charts. Yes I have entry methods.
     
  6. easymon1

    easymon1

    What criteria do you have in searching for prospective stock underlyings?
     
  7. Good amount of daily volume and atr high enough to capture worthwhile moves on a daily basis.
     
  8. easymon1

    easymon1

    Have you lined up a broker to work with?
     
  9. I have an active cash account with $3k and a margin account with $2k. I expect you've collected all the preliminary data necessary to answer my question.
     
  10. easymon1

    easymon1

    What's a good price range you'll look for as a buy price on a Call Ask?
    Are you looking for any particular delta range for that Call? eg, close to .40?
     
    #10     Jan 4, 2021