Trade Options at the Close


Updated Jul 8th, 2021

The is a good strategy for anyone trading an account under $25,000.

Get around the day trading restrictions and avoid spending too much time watching prices move.

Use a wider time horizon to participate without losing lots of time, (4-hour bars versus tick charts).

Sit out Fridays since you don’t want to hold over the weekend. So you’ve got a 4-day trading week.

Patient, patience, patience. An idea is to reverse ML signals OR enter not on the yellow or orange but on the red or even past this level. This idea is to max patience, reduce risk, added safety. Wait for enter-signals to be stopped out and then get in there.

When you buy 20% off the high, a return to the high gets you a 25% return.

When entering and exiting an options trade I would like to keep a ticket with the following fields (for both the opening and closing of position): date, time, symbol, underlying price, option contract, option contract price, IV, Delta, Theta, Vega, Gamma, Spread at the time.

All in for $977 on these two. Options lost about 80% of their value

QQQ SEP 281P: Cost $548 with underlying at $329.36

SPY SEP 337P: Cost $429. P/L went from $160 to zero in one day. Then in the negative.