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Strategies & Market Trends : Wolfgangrene's charts

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To: Chris_Toronto who wrote (3862)	3/19/2019 12:20:02 PM
From: wolfgangrene	of 3976

Well, options are pure gambling. But I did have fun buying calls or puts on the weekly SPY option expiration day, mostly after noon. It had to be when the market was volatile. In the last few years it seems that Friday markets have less and less volatility because the big positions are sold options being allowed to expire worthless. My trades were always in a retirement acct, not allowing me to sell short. But with a volatile market day, using a 5 min chart, if there was a ppo/adx pincher and just out of the money, I could occasionally nail a 10 folder. Then I have to be out. I couldn't afford the options to expire in the money. My heart would be pounding. The SPY-SPX looks like a 50/50 play here.

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