Day Trade SPY: Pick of the Day
Pick of the Day
The ‘Pick of the Day’ is a particular option announced around 9 am ET that we may be interested in trading.
This trade is anchored in time, only requiring several minutes to execute. The particular option of interest would be purchased at a limit order at market open when the bid/ask spread settle in, immediately followed by a ‘good to cancel’ sell order with a 5% net profit target. Should the market turn against our intended direction at market open, we would likely make our purchase as the market turns back in our favor, as evidenced by the 1 minute chart.
We actively manage our own trades on the rare occasion should they drop to a 65% loss but as a reminder, we do not send out advisories as to our positions. You are responsible for your own trades.
To be clear, these are not recommendations, only trades we are interested in executing at market open.
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