3309 Drysdale Ct
Edwardsville, IL 62025
Hey Matt, how did you choose that particular strike price?
Looking at the 286's, the Delta is 0.82 but with only a
volume of 58 contracts today. The 287 strike has a Delta of
0.81 and a volume of 5.1k (increased liquidity?).
the delta on my side shows 77.5, also it's for Nov
for breakout trades I tend to go lower delta because bad trades
will get stopped out vs holding, so I don't go with 90 delta. Also
breakout trades should really only have 1 entry anyway, I do allow
it a 2nd entry but that's all. Also my general model suggests
that I do an even lower delta like 70 but I went higher because I
felt like it basically
remember as I've said guys, I'm an option novice, I'm no expert
in options like Steve. I figure as long as the overall SPY system
trades is good, the option trade will work out in most cases. I'm
sure there are many better methods, strike prices, and trades that
get held for a while I've been told that the options should be sold
out of and new strikes bought several times in order to optimize
profits and degradation.
What I give is just a guide, you guys should be picking what you
think is right if you have better strategy, and feel free to share
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