I want to introduce you to a simple, high probability weekly SPY options trading methodology. It’s so easy I even recommend the time of day to make your analysis and place the trade. That’s it – just a few minutes each day at 10am and then you are out and free to go play golf, play with your kids/grandkids or look for a real job – if you really want to.
Basically, it’s using a proprietary indicator called Person Pivot Points available on thinkorswim’s platform via TD Ameritrade’s charts, Price Action and delta (option Greek). All the details are in the new video posted on the right called “SPY 10AM Weekly” under New Downloads.
Sounds too good to be true? Maybe it is, but the video will show you, using the OnDemand feature of the TOS platform, that it was 100% successful 5 weeks in a row from 6/23 to 7/20 – all in HD quality and Dolby stereo.
(OnDemand is a thinkorswim’s proprietary feature that provides the ability to play back any trading day, in real time or fast forward, tic-by-tic, on any stock, ETF, option, future and currency pairs on any day from 12/7/09 to 7/24/10. Yes, it allows you to trade any of these as if you are there at that date and time. You can watch a 5 minute demo here: OnDemand Demo)
At TOS you need $3,500 to open a new account. That’s all you need to trade this strategy, although you should make sure that you can afford to lose that amount, since nothing is guaranteed. You never have more than $1,800 at risk at any one time – if this is all the trading you do in this account. But don’t take my word for it. Just open a regular account at TOS (you can even do this in an IRA – I do). If you already have one – great. Watch the video and switch to OnDemand and practice, practice, practice until you prove to yourself that it really can be done.
By the way, my monthly results have been updated. It’s not as bad as I thought a week ago.
I entered into a single calendar on AAPL on 7/19 using the normal August expiration (8/20) as my back month and I am rolling the short front month each week (details at left). Follow along as I roll from week-to-week – I have 3 weeks left. So far, I think this will make money as long as AAPL doesn’t go bearish on me (should I buy a protective Put?).
As always, feel free to email or comment.
◄ Jeff ►