How To Trade Weekly Options on SPX! | Bull Call Spreads

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How to trade weekly options on SPX

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Options trading doesn’t have to be complicated. In this video, I’ll reveal a simple weekly options strategy for trading the SPX.

You’ll be able to see how this 30 minute per week strategy performed for the past few years.

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Vertical Spread Options Trading says: Here's the promo link for the CML Trade Machine Options Backtester used in this video. They've added a ton of new features for scans and alerts especially regarding earnings trades.

Lisa de says:

Thanks for the video. You forgot the PDF link.

Molle de Jong says:

Thank you so much for this video. It confirms once again that I should just stick to a system and go for it, non emotional. I tried this strategy for a few weeks now, but my problem is that I hardly ever get filled. Just today I still tried the 76/74 bull call spread but the spreads between bid (3.00) and ask (5.90) are simply too high. Any ideas on how to overcome this?

Ioan-Andrei Batinas says:

the call spread you are doing is cool, but the oposite short put spread, has the same risk-reward, but since it's out of the money, the bid ask difference is smaller. So you sell for 100 and you have 400 in risk. Or you buy for 400 and you have 400 in risk and your max profit is 100. Same thing, but the bid ask difference on out of money options is smaller. Easier to get filled, did you try that?

Justin Rogers says:

After losing $ day trading the last 6 months, I want to try options. I wouldn’t call this a “bull market”’exactly, as some weeks the market is down, some weeks up. Does this strategy work in today’s volitile market? Someone in a chat room I’m apart of only trades SPY options based on the HULL moving average. I’m not sure which strategy to use. This protects your downside via the spread, but I wonder how consistent it is in this market? What are your thoughts?

Matt Calay says:

Just wondering the benefits of doing your bull-call verse a bull-put.

Matt Calay says:

hello there ! So as long as SPX closes above your short leg you profit max profit ?

Troy Mitchell says:

If the trade goes against you, at what point do you exit?

Fred Hughes says:

Thanks for the videos – great information. Can you share what the performance numbers were for 2 years and 3 years? thank you.

Vincenzo916 says:

How is this any different from doing a put credit spread on the same strikes? i.e. you can sell the 2400 put and buy the 2395 put for a credit of $1.40, which is the same as buying the 2395 call and selling the 2400 call for a debit of $3.60. If the long call spread expires in the money, you make 5.00 – 3.60 = 1.40. In that case the short put spread also expires out of the money, you make $1.40 – 0 = $1.40. It is the same thing.

P.N. Ranganathan says:

Thank you. Clear, low-key, complete. Esp like the caution and your sincerity.

dmo1964 says:

All your videos are good information. I appreciate it. In this trading system, am I to assume that the 2 or 3 year back testing would give similar results as presented here in this video with the 1 year? Also, do you usually put this trade on on Fridays with the next Friday weekly option chain set to expire?

gue kim says:

Oops I was looking at double diagonals on spx on a different video, and I came across yours for trading spx option and was responding to a comment down below. I forgot I was at the wrong tab when I posted the last comment. I wasn't trying to discredit you. As a matter of fact this strategy seems to make 5x commission cost which is really good. Nice and a very simple yet effective strategy.

HB Stone says:

What if your only options are around .80, then .70, then .60 – there are often not two deltas in the 70s for SPX, at least not that I can see right now. Checked every expiration date for the next 2 weeks and I get like 88/72/59 so there's only one that matches low/mid 70s delta.

In that case is it better to go with the 80/70 or the 70/60? Neither look great to me – for 10 contracts ToS is saying around -3.6k downside and +1.3k upside.

Great video, thanks for putting it up, but I just can't match up the advice to what I see in the data, please help =)

Siddhesh Tulaskar says:

Double Calendar Spreads. Suppose the Call side debit is 3.18 and put side debit is 3.4, so my margin required will be the most money I can lose 3.4 * 100 i.e., 340 usd or it will be 3.18 + 3.4 = 6.58 *100 i.e., 658 usd?

orkayen says:

If the strikes are deep ITM and when you say you had 6 or 9 losers, does it mean that the index (SPX) got hammered during those weeks and the deep ITM strikes became OTM.  By expiration, if it moves down but strikes are still ITM, you will loose some but not completely. Correct?

orkayen says:

In one of your replies, you have mentioned that the gain is $0.90 per contract, which is 20% gain. Do you think we get similar results trading equities as long as we close the trade on expiration?

Ed Carlson says:

Why don't you do bull put spreads using the exact same strikes? You will save on exercise fees and commissions.

Yvonne Scheier says:

Thought spx was cash settled, but TOS hit me with assignment charges anyway a few months ago.

PlushEnt4tLife says:

How did you decide to pick your particular strikes?

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