How to day trade SPY options lesson. This is a real-time trade from today and I explain the pattern and the SPY trading indicator I use. Try my research for $29 https://oneoption.com/research-offer Day trading SPY options requires discipline and patience especially if you are trading near term weekly options that expire in a few days or a few hours. Time decay is constantly working against you and these options move very quickly. The key is to wait for very high probability trading set-ups. I use one proprietary indicator to tell me when to enter and exit trades. This is the best indicator for day trading the SPY or S&P 500 futures. When the indicator crosses after a big spike or a big trough I am on high alert. In today's example I was also watching price patterns on the SPY near the high of the day. Long tails above the body of a candle stick indicate resistance. We saw a number of long tails near the high of the day and the SPY pulled back sharply from that high. The next time the SPY tried to rally to the high we saw long tails above the body again and those were followed by long bodied red candles that closed on their low. A series of additional tails above body indicated that resistance was building. The OneOption indicator had crossed from a big spike earlier in the day and that set a bearish backdrop. On a 5 minute chart we were also able to see a head and shoulders formation. Once the SPY broke support the selling pressure accelerated. Typically, I like to wait until halfway through the trading session before I trade near term SPY options. I feel that early in the day these options are exposed to time decay and it's harder to spot high probability trades in the early part of the trading session. As the day unfolds these options get cheaper and the patterns become easier to identify. If I'm trading options that expire the same day I refer to these as lotto trades or option lottery trades or option lotto trades. These are low probability, low risk, high reward trades and that is why we call them option lottery trades. The key is to make sure That you do everything possible as a trader to increase your probability of success. As I mentioned at the very beginning your patience will determine if you can successfully trade this strategy. You must be very disciplined as well. Since these options move quickly I like to set a target at a double. It is common to make 100% on these option trades in minutes. Once I hit that target I know that I can't lose money on the trade and that anything I get for the remaining options for is pure profit. This removes emotion and I am able to manage the option trade more effectively. Please give this video a thumbs up if you liked the lesson.