As you know, or should know, buying options is one of the riskiest and hardest ways to profit from the market, (and statistics continue to prove this out as most option buyers lose money). though they are still a great way to make money with certain trade setups and in certain market conditions. and to be enter trade precise and take profit. Bec high IV option premium is expensive now, the longer you hold you option would decay it value fast if it not go up or down, day trading is what we do now. Take profit accordingly, Trades are not a investment advice, consult your financial advisor for buying any stock. Below are the signals for day trading, for information only.
8;10 am, Futures is down, SPY-7.50. Today signal is bearish mean will finish at low, if fake will be high. recent last 3 days i see new signal do little confuse, but may not matter affect the bull or bear. Today I will see it like last Friday up and down, will finish at the low as signal usually mean. So SPY may open run up to 668-669 area, will fall back going lower if break early low, low will be last minutes before market closed. Look for SPY to go high 668-669. Low will be last minutes to 655.. crazy to 650?
SPY open >>> 668+. >>> down to 665.. # are estimate.
Trade will see , shall go short OK after run up high 668-669, breakout will get out, this signal either finish low or high, high can be 674, very crazy , I do not think it will do. I will focus in the short side to 655.
Because this signal usually mean it will finish at low, so the low will be last minutes, unless it fake.
Good luck.