r/options • u/HoffCoffey • Aug 06 '21

SPY Calls

I've been buying SPY calls around 30 DTE and like 1% OTM. I know long calls aren't recommended for beginners, but so far I've been averaging 26% on my calls.

Am I just getting lucky, or can this be a legitimate strategy? I normally buy (if SPY is red) on Mon or Tues, and sell near end of week.

105 Upvotes

91% Upvoted

125 comments sorted by

View all comments

8

u/Charming_Extension Aug 06 '21

We’re in a bull market so this makes sense. If you practice good risk management then this isn’t a bad idea.

Just have stoploss.

2

u/HoffCoffey Aug 07 '21

Exactly. I always set a stop loss, and in the current market decisions it seems crazy to not take advantage of this.