SPY

SnooGuavas6342

I like to think of it this way: Call options: add the price of the option to the strike price. $687 + $4.38 = $691.38. You’re betting that SPY will end higher than $691.38 on 2/23. Put options: subtract the price of the option from the strike price. $687 - $1.58 = $685.42. You’re betting that SPY will end lower than $685.42 on 2/23. But because you’re buying a call and a put option you’d need to include the others price into the calculation to determine what SPY would need to end 2/23 at to actually make money overall. SPY would either need to end 2/23 higher than $692.96 ($687+$4.38+$1.58= $692.96) or lower than $681.04 ($687-$1.58-$4.38=$681.04). In other words, you need the price of SPY to be $5.96 higher or lower than $687 by the end of the trading day on 2/23 to make money. If you sell before nearing the end of the trading day on 2/23 then it needs to appear as if the price of SPY will end the trading day $5.96 higher or lower than $687 to make money. But this is only assuming that you sell both options at the same time. You don’t have to. You can sell the call option and the put option at different times of the day. Here are a few different scenarios: 1. SPY opens higher than $692.96. You can sell your call option for more than $5.96 and sell your put option for maybe around $0.15 to $0.25 (Only an estimate). Or you can sell your call option and hold the put option to sell at another point in the day if you believe the price will drop. 2. SPY opens lower than $681.04. You can sell your put option for more than $5.96 and sell your call option for maybe around $0.15 to $0.25 (Only an estimate). Or sell the put option and hold the call option to sell at another point in the day if you believe the price will rise. 3. SPY opens at $687. Your call and put options are worth about the same as when you bought them. The total value of both options together will be worth less and less every moment that SPY stays between $685.42 and $691.38 as the day goes on. In-order to make a profit you’d need to sell your put when it appears that SPY will end the day lower than $685.42 and sell your call when it appears that SPY will end higher than $691.38.

Kitchen-Assistant-24

The SPY annual reports break out holdings individually, but not by sector unfortunately (at least in the earlier years). That was my original go-to but there is the problem of mapping legacy/defunct companies to their relevant historical sectors. Doing it manually for hundreds of companies over decades isn't feasible, and without historical crosswalk tables (or some similar tool i don't know about?) there's no way to automate the process.

thesecretgames

0dte SPY

wenxuan2

So i see we have potential war and confirmed higher tarriffs, all bullish news right? So make sense for me to go full port SPY700 calls right?

cave13man13

At any moment you're puts can be short squeezed to worthless. I lost 20% of my port Friday 2/20 with 685 puts bought perfectly at the open climb and didn't sell for a 30% gain on the dip 😮‍💨. Only to be short squeezed into oblivion when all news was bullish. I trade options on SPY daily and expected -1% SPY Friday with a market close recovery near flat. SPY is bullish but be careful.

Anxious-Coffee4

I bought 02/23 SPY puts today. Did I do good dad?

Personal-Walrus-3682

Today's reports showed declining growth (GDP) and inflation is sticky (PCE). We are headed into stagflation. SPY is going down. There will be volatility so maybe not Monday, but we're going to trend down. As for the tariffs and possible Iran war, only Trump knows what market plays to make because he's making the tariffs/war decisions.

taplar

What about the [EDGAR SPY](https://www.sec.gov/edgar/browse/?CIK=884394&owner=exclude) reports?

longdrivehome

I don't think I understood how much patience plays into it. Once I started taking longer dated options and sizing into positions, where turns against me were also a good thing in the short term to build the position bigger, it's feels like I have a tiny bit more control. That being said I fully understand SPY's been on easy mode the last few months for that trading style. Fuck up in the 680's? Just make sure you're fucking up with long enough expiries to wait 10 days till it jumps back to the 690's and vice versa with puts. Very, very aware that's not a permanent pattern but it's been fun to learn on

bladzalot

I do this all the time, but I do it $2 OTM in each direction so the “straddle” is WAY cheaper. It nearly always pays out, but the amount is very low unless it is a large move day. If SPY goes 5 points in either direction you make out like a bandit. But on the majority of days, the SPY is really good at opening and closing +/- $1. On those days you have to pay really close attention to make sure you sell one of the contracts when it is valueable, then pray it swings the other direction enough to get you to break even on the other side. Yes, it is gambling, but it is a little smarter than Vegas odds gambling, and this entire market is hard as fuck to predict with the dipshit in chief causing daily chaos and making our lives and hobbies fucking miserable.

longdrivehome

Turned $30k into $55k day trading 60dte SPY options the last 2 weeks and I don't know if it's beginners luck and I should stop or if I'm actually learning how to do it after 4 months of trading random shit and losing money and studying till I found a strategy that my dumb brain kinda understands. Spotted the double top and took 8 green trades with 1 red riding the chop today...feels good man

Dramatic-Praline-880

🎢 1. You’re Paying for Drama The call costs $4.38 The put costs $1.58 Total = $5.96 Because each contract controls 100 shares: 👉 $5.96 × 100 = $596 You’re spending $596 just to play. For you to win, SPY has to move a LOT before 2/23. 🧊 2. If SPY Doesn’t Move Much… You Melt If SPY just wiggles around 687… Both options lose value every single day. That’s called time decay. It’s like buying ice cream in the sun. If nothing exciting happens fast… it melts. You can lose most or all of that $596 very quickly. 📏 3. It Has to Move More Than You Think You need SPY to move roughly: Above ~$693 or Below ~$681 Just to break even. That’s a big move in a short time. If it only moves a little? You lose money on both sides. 🎰 4. It’s Basically a “Big Move Lottery Ticket” You’re not betting on direction. You’re betting on explosion-level volatility. If there isn’t news or a major event? This is usually a fast way to donate money to market makers. 👩‍🏫 Simple Version You’re paying $596 hoping the market freaks out tomorrow. If it doesn’t? You probably lose most of it.

spyputs1

This is the move, if you’re trading 10+ contracts SPY makes 0 sense compared to SPX

COBRA_DROGO

Will NVDA earnings finally push SPY to 700? Find out in the next episode of Dragon Ball Z

throwingitanyway

SPY 720 by next Friday

BarbellPadawan

GLD 700 before SPY, probably

RevolutionaryPhoto24

Oh, I think near 800 EOY, hahaha! I actually traded some 800c on the bigger dip and rise, but holding closer to the money now. With SPY ranging and all the macro and repositioning madness, I’m not making shorter term predictions. Though obv think both should rally on earnings. This next MU ER reminds me of how excited I was anticipating NVDA 2023 ER (a guy in r/stocks said he was shorting it based on my comment, and then came back and said it was a mistake, lol.)

Groucho-and-Harpo

Theta still works for 1DTE, just works much faster. If SPY ends up at $687 at the end of the day the straddle goes to zero. SPY would have to close either $5.86 higher or lower than $687 for a profit, or you’d have to back out after SPY makes a sharp but smaller move at the beginning of the day that outsizes theta decay.

EmergencyGlobal5983

Thanks! it was SPY

JokerKing_420

Because you will make only if SPY either closes below 681 or closes above 693 on Monday.

Timmy98789

Looking at my SPY calls... *I should start a nonprofit*

FNFactChecker

Confidently incorrect. An ITM call has intrinsic value. SPY closing at $687 drops the intrinsic value to 0. Theta has very little, if anything, to do with it since it's 1DTE

eleheartech

Cool cool cool… so are we buying SPY puts or pretending this is bullish somehow? 😂

EmergencyGlobal5983

SPY, calls at 691 and 694

aerothony

It’s called a straddle, but if you’re more bullish at least choose a call that expires more later than the put, conversely if you’re bearish. SPY can be unpredictable but have had some great successes using this strategy with LUNR.

crazybitcoinlunatic

If SPY opens at the same price, the 687 Call theta is 0.50 per day, so 1.5 days later you are out 1.25 or so in theta decay at least.

lupindub

What if SPY goes sideways like it has literally the past month? Both your puts and calls get destroyed

Valkorion335786

"Moody's upgrades US credit rating after learning u/Valkorion335786 had purchased SPY puts."

AMDeez_nutz

!banbet SPY 670 3d

TradeVue

I don’t really run anything continuously intraday other than some 0DTE SPX Iron Condors for fun when I like the setup. Occasionally I’ll scalp but not continuously. Most of my “always on” exposure is boring by design, longer DTE premium selling where theta is reliable an gamma is manageable. Stuff like short puts, strangles or condors, broken wing flys, ratios in the 30–60 DTE range, sized small and spread across underlyings. Those I can let breathe and manage mechanically. And it all is dependent upon my position and portfolio Greeks and metrics, correlation to SPY and diversifying across different products. Intraday or 0DTE structures, diagonals, calendars, flies, those are all situational for me. I only put them on when the market context makes sense and I have a clear plan for exit. Or maybe I need to add or shed more delta or theta etc. They’re tools for me but not a baseline system. Like I’ll run calendars often for earnings plays (playing earnings is always a gamble regardless of setup), and CSP’s and CC’s on stocks I own or like to add some income. Net net, I like my default book to make money from time passing and not from *needing* clean intraday movement to survive.

panna__cotta

I can’t stand Trump but none of that really matters. It’s a mental play, not an industrial one. The American market has no real competition and neither does the dollar as reserve currency. VXUS is like the gold play. It makes people feel safe. It’s not *really* economically informed though. Hell, just look at SPY all time vs gold or VXUS all time. Look at American earning power and spending compared to the rest of the world. Most of this shift in international buying is driven by *Americans*. It’s sentiment, not facts. The US has room to devalue their dollar and is using it to devalue their debt. The call is coming from inside the house. Sentiment will just as rapidly shift back the minute Americans feel like it.

dljmonkeyboiz

New SPY range 690-680, the fact we didn’t break 690 all week …. Bullish, load up on calls.

Aplhacuck

I’m at $27k SPY 0DTE’s for February so far. Feel like I should stop but I just keep winning.

Axwe8

####SPY has been very **underwhelming** past few weeks. 🤓 🤔

Stereophonic

Do it again until you're at 200k. Buy SPY, QQQ, AAPL, whatever else you want. Keep stacking.

machinepeen

Even after all this SPY is still negative in February

davidbigham

QQQ SPY earning on Wed. NVDA is the AI ETF.

LiveMotivation

We had this huge decision today and SPY didn’t even get close to 700. Hmmmm. Is this market cooked?

PatientAd9394

If sleepy joe was in office, SPY would already be at 750 by now

rooftop_druid

Nothing will happen with Iran. SPY will open Monday around 693.

PatientAd9394

SPY 700???? Surely now. Nothing is going to stop this monster

Icy-Motor-8519

I couldn’t have timed it worse, I got fucked by calls and puts on SPY even though it did exactly what I thought it would, just not at the time I thought it would. Hardly ever works out timing the market. lmao I belong here.

Worried_Quarter469

Came in to today with SPY calls and puts Sold all of them at a profit

Memento_mori9608

MU is the new SPY

joe_deertay-

!banbet SPY $700 in 1 week

Low_Sheepherder7990

Looks to me that it’s a lot of hedge play against SPY dipping but there’s a lot of resistive support down to $666. I don’t think the majority is expecting it to go down, but it’s defensively positioned to save themselves if it does. So basically more theta fucking coming to you

WinstonBuddyBro

After making tons of trades that all turned into scalps and stress…Weekly profit: 1.1%… SPX weekly gain: 1.07% 🤦‍♂️ could have just full ported SPY shares and sold this afternoon for the same result.

watisdat

My stupid ass port really doesnt give af anymore if SPY is green. This MF is always red this month.

pineapplekiwipen

SPY is going quite a bit lower soon, this week was needed to reload puts

Realistic_Manner238

!banbet SPY 700 3/6

bryanbass0308

you’ve got it the wrong way bub, iran war would decrease the dollar and increase equities commods. the taco here would bring SPY down

Odd-Block-2998

Tariffs cancelled. SPY +0.72%. Most tariffs cancellation has been priced in. Just kidding. SPY +5% next week after Iran war taco.

MasterElite1

And SPY draws a perfect rising wedge into close...

vermilli21

TSLA ended red and SPY is green. The world is healing

NotEasyOne_Regard

SPY nearly recovered in 1 day what it has lost in 3 weeks. Amazing, fascinating.

Nefarious_AI_Agent

SPY 700 next week, i can feel it in my chode.

Vlisa

What a crazy chart on SPY today. Making it really hard to draw my technical analysis dinosaur.

knoqd_

War on Saturday Taco on Sunday SPY 700 on Monday

-medicalthrowaway-

That was wild I was able to close out SPY 687p that were down 82% at 3:58pm 😂 👍

CulturalConclusion76

I'm never buying SPY puts ever again after today

Aggravating_Sir_4709

How many sacrifices to Moloch did the MMs do to keep SPY green after the trash economic data?

Wowmuchrya

Everything is bullish in brainwashed permabull mind. Market can be down 4% and it’s still “SPY 700 EOD”

ProblemOk4641

SPY puts printing next week!!

TomatoSpecialist6879

Bro spent 5 years scalping vol and still lost to SPY's 1-day average performance lmao

hermeskino715

My God. How tf is North Carolina hotter than Miami? And I thought SPY was bullshit

MrNo_Balls

I thought the USA had a bad earnings how come SPY is up?

CoughSyrupOD

\+6.43% YTD. Not great, not terrible. Last year was about +26%, so pretty good. I typically outperform SPY/VT/XEQT and my sharpe and beta are reasonable but I don't get the eye popping returns some people post around here.

addicci

Im so glad i switched from anti-SPY to pro gold. Market still as irrational as ever

janygonewild

ATM calls this far out are expensive right now. SPY needs almost +6% just to break even. Honestly CSP looks the best here. You get paid upfront and your breakeven is around 4% below current price.

Capable-Yak-8486

So we’ve had a double whammy of terrible news today, remind me again what the hell is propping SPY up?

No-Improvement3164

SPY and SMH charts are identical

Zacacrip

Ban Bet Loss SPY 687 on Monday

jokull1234

There’s too many sectors getting absolutely pummeled to keep up with. Meanwhile SPY is green lol

ServoFFXI

Careful with SNDK. On a good SPY day she’s going to run. 

WhoCaresWhatITink

!Banbet SPY -1.5% 5d

CulturalConclusion76

All my SPY call gains always get shat on by my SPY put losses I'm never buying SPY puts ever again after today. Holy fuck is this market invincible

52iou

I really think Donnie goes to ChatGPT and prompts it 'Write me a speech that'll make SPY pump' and then it just does. And I just buy calls because...well, I like money.

Axwe8

#### The most SPY calls are expiring for **687**. What if we just **MOON** so they close OTM 🤣

HomeMadeToast

SPY, and SLV puts at tippy top. Feeling good about next week

-Birky-

Mag 7s are awake again after sell off - 700 SPY possible if it can get past the 696 mountain

rajadirajadiraja

I’m rich if SPY hits 700 Monday

CulturalConclusion76

The only purpose of SPY puts is to donate to hedge funds, at least burning your money would keep you warm

HomeMadeToast

!Banbet SPY 650 10d

_ThisDickAintFree_

SPY, get your bitch ass to $690 already.

JustLurkCarryOn

SPY is really like 7-10 companies in a trenchcoat.

Early-Group-5707

689. Yall won Closing window and will see where SPY ends up at 4. Congrats Bulls! We fight again Monday

skin_flute_player

I was promised a tariff stipend. I need it to buy more SPY 0TDEs.

Early-Group-5707

Big war being waged on SPY right now! exciting stuff. But only one side can prevail!!! Can the bears sour hour this down to 686? Can the bulls power hour this up to 691? Let's find out!

PalpitationSmooth992

entire market crashes every single day but SPY keeps going up because its 40 percent mag 7 whats the point of other sectors if everyone piles into the same 7 stocks at the first sign of fear

throwawaydonaldinho

Every time SPY dips below 688 MM’s pull asks and push bids to dump the price 15 cents in one print to reset it. Watching it in 4k

Perfect-Loquat-7791

A 6-month SPY call can work, but the high breakeven means you need significant upside just to profit. Consider spreads or LEAPS to reduce cost and risk

aerospace_bear

Crayons are telling me we end at SPY 692. Common sense says drill to 685. Watch it straddle the middle and let theta do the job.

Diligent_Onion_5149

Tarrifs on top of existing tarrifs and SPY don't care, maybe Algos will care Monday!

CulturalConclusion76

TACO over the weekend and it'll keep going higher, easy to predict. SPY will never go down

PalpitationSmooth992

Space stocks dead software stocks dead data center stocks dead consumer stocks dead reits dead medical stocks dead VIX dead SPY ---- GREEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEN

LeBhikariLe

SPY up +0.6% MSFT is red. I've given up man

PalpitationSmooth992

how the fuck is SPY still green!? everything is down 10 percent

Organic-Lie4759

Holy shit, SPY 391 Not really, but made you look.

advantage_player

It should be euphoric right now His clown behavior is the only thing stopping the AI bubble from really ripping. If we're finally going to push back on this nonsense we should be heading straight to SPY 800

caliwillbemine

SPY 689 was decreed and so it shall be. Plus or minus 30 cents.