short strangles work perfectly. one just needs lot of dough to post margins. given built in leverage, it can easily outperform the market.
Day trading and understanding the market is not supposed to make rational, logical, sense. If it were that easy ...everyone would get rich doing it. Try to understand and observe the market with an open mind....part data and logic is there, but also part erratic timing and movement. A complex symbiotic relationship. And try to see greater movement, don't be obsessed with the smaller gyrations Picaso Picasso
Here's a random gold nugget of wisdom insight.... Don't just stare at the ES chart...observe the Dow, Nasdaq, S&P and ES charts all independently for a slightly greater, wider, generalized market perspective Ted of Trailerpark
The last 5 days, SPY closed in average at 80% of its range. ... I think it can run for another month.