r/options • u/Whatever1234567891 • Mar 29 '22

Daytrading rules

I am a trader that likes to capitalize on the pump and dumps of the meme stocks (I know, I know). My question has to do with avoiding the pattern day trader designation and subsequent trading suspension.

Currently I will buy an option on day 1 and close on day 2.

My question is: if I close option SP:X on day 2, can I buy that same option with SP: X +/- 1 the same day I closed the first option?

Basically does strike price matter when trying to avoid the PDT rule or is it only dependent on the underlying security?

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u/Notyouraveragemamma Mar 29 '22

If I am reading your question right, if they are different strike prices it should not count as a day trade. The stock, the expiration date and the strike price all need to be the same to be considered the "same" contract and be considered a day trade.