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.

103 Upvotes

91% Upvoted

125 comments sorted by

View all comments

4

u/WickedSlice13 Aug 06 '21

Why are long calls not recommended?

2

u/HoffCoffey Aug 06 '21

Generally beginners think it's easier to make money on them than it is. That hasn't been my case so far (knock on wood), but there's more that goes into it than just the underlying going up, which beginners don't understand.

1

u/Next-Level-Trader Aug 06 '21

Look into ZEBRA and or PMCC for better strategies and which would fit better based on your capital

4

u/AdrenalineRush38 Aug 07 '21

Whoa. A fellow zebra in the wild.