You can buy an ITM spy option that expires in 2-3 days for like $330-$400

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This is the only motivation I need. I’m starting with 20k on monday with full blown spy/qqq/iwm 0dte options till I hit 500k. Wish me luck 

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You would probably had more if you didn't start gambling on options, 3 yrs into SPY growth or QQQ would gave you equal growth to what you did now plus enjoying tax deferred opportunities. Now you are just back to zero with all the tax burden ahead and fees.

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Move it to VOO/VTO/SPY and call it quits. You had your wins and your luck! Stop while you are VERY ahead, haha.

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Dropped from 2500 to 890 this week on SPY calls, so only a few more hundred down to go, then I’m rich!

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You can mess around with spy for pretty cheap and it’s very easy to get in and out and not worry about having an issue with liquidity. A couple strikes above the money and you can get in for like $50. You catch a heater and suddenly you turned 500 into 5k in 20 minutes

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Actual advice: - Number one is identifying your own bad habits and cognitive biases. Mastering emotions like fear and greed, hope and pessimism to view things clearly. This takes a lot of inner work. Other stuff I’ve found useful: - Set a stop loss at 20% for whatever option you bought. If you get stopped out, go home for the day. If your account is $1,000 and you put 20% ($200) of capital in play, your risk is $40. That’s recoverable. - Set a target to lock in gains. Move your stop up as you keep winning. Don’t chase if you get stopped out, thinking you can buy back in. Just take your win. - Best intraday indicator for trading SPY is watching the vol ETFs (UVXY, SVXY). Compare the price action in those to the price action in SPY. You’ll notice patterns in the behavior. What you want to look for is if vol is holding a firm level even as SPY is rising — this means a surprise is probably lurking. If SPY is declining (like on a midday dip) and vol isn’t really spiking or breaking new highs, it’s more likely a buyable dip. - I prefer OTM options with two week’s duration. Anything shorter gives me a heart attack. They’ll retain enough value if spot price moves against you that you can at least roll into something else. - Options around 20-delta will have the most explosive potential. This is because *speed* (the second derivative of delta) tends to peak around this level. - Know the market trend. Right now the market is not strong. Even up days are marked by weak closes. It might be better to trade after FOMC.

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Congrats! Smart move. You won the options lottery ticket and you can just sail. I’d diversify 70% SPY, 20% small caps, 5% gold, 5% bitcoin

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1 dollar can buy you an otm 0dte spy call/put, that's how that one guy made 150 grand off a couple hundred dollars worth of spy puts a few months ago

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That's about what I thought, just wanted to confirm lol. You're a lucky man. Now go buy VOO/SPY exclusively and move on with your life.

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