hello!, i day trade ETF options such as SPY. I only make about 1 or 2 trades per day. my goal is to make 15% returns per week...if you day trade options properly, its possible and i have done it, but i am having trouble keeping my profits, since i tend to overtrade when i am losing and i am not able to handle the emotional aspect of trading, so therefore i am not making good decisions, so... i was hoping if anyone else does the same sort of trading, if so...would anyone be interested in discussing the trades while trading, in an instant messaging service? (i don't prefer chatrooms because the group usually gets off the topic every 10 seconds)... if u are interested just send me a message. (no paper traders) thankyou for your time! Sam
I swing trade index ETF options. I wonder how you can get away with DAYTRADING SPY options? Daytrading with options is difficult, much more with the SPY, since it has a bigger bid-ask spread than the QQQQs. I easily get 15%+ in a single trade, buying dips with Qs calls, but obviously dips dont happen everyday. Also Im a "seasonal" trader, so there are months when I dont place a single trade.
SPY options are quoted in pennies now. Although the spreads are still a bit wider than those with QQQQ options, you can get filled inside the spread (I haven't had any luck getting filled inside the spread with QQQQ options). Same with OIH - yesterday, I was getting filled when my order was around 1/3 of the spread away from the NBBO.