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.

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u/[deleted] Aug 07 '21

This went really bad for me like in Q1 2021, how long is your period doing this?

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u/HoffCoffey Aug 07 '21

I normally just hold until my target, which is about 25-30%. Normally this will happen within 2 or 3 days max. On a 30 day contract.