I make 300%-500% on $S&P 500(.SPX)$ $SPDR S&P 500 ETF Trust(SPY)$ call options on days like this.
This is the best strategy to do with an account less then $1000. All you need is to buy 1-2 contracts.
Here's the complete PLAYBOOK to learn from 🧵
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I always draw out my KEY LEVELS before market even opens. So here you can see my key level for SPY is at $585.
Save this so you know it was the premarket low. I always have a simple plan so I know what to do market opens. (make sure to follow along)
I wait for the market to sell off right into my key support level at $585. I draw this out BEFORE market even opens:
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This is the EXACT entry here at $2.54 and it hit $18.70 and all it takes is 1 contract and 1 trade.
This is simple 2 step process. Draw your key level and wait for the price to move towards it. Watch closely for confirmation.
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The target is always key levels so its these 3:
1. Previous day high
2. High of Day
3. Daily chart high so ($593-$595)
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