Opinions: Profitable SPX Options Indicator/Strategy For ThinkOrSwim

epete

Member
Would be interested in opinions on what the most profitable SPX options indicator or strategy is. I know there is no silver (or gold) bullet, but curious if anyone has come close to a brass bullet... :)
 
There are some, but no truly successful trader would ever tell you that. Once you find an edge to exploit, the more people trading it, the worse it gets.
 
Epete, the most consistent SPX strategy I have ever come across is buying calendar spreads. But knowing when and what to buy is the secret to success along with monitoring them constantly. One cannot neglect them or heavy losses will result. Basically, Sell higher implied volatility and buy lower volatility dated further out. TOS has a good risk analyzer tab for this strategy.
 
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I've done very good with covered calls, put credit spreads and selling iron butterflies, the last two being my favorite on SPX 0 days to expiration (0DTE) on MWF. I usually get in and out on the put credit spread within a 2-3 hours and the Iron Butterfly usually less than an hour. Just using a 4/8 SMA and not much else. The Iron Butterfly is a non directional play, so it's just a pure premium catcher and nothing more. Another high probability trade is a regular call butterfly that I've tried a few times but that's usually takes a few days to play out which I don't normally like to do in this environment so haven't done a lot of those. Others really like them. The risk reward is exceptional. I've seen 1:3, 1:4 and as high as 1:6. Can't beat that with a stick.
 
I've done very good with covered calls, put credit spreads and selling iron butterflies, the last two being my favorite on SPX 0 days to expiration (0DTE) on MWF. I usually get in and out on the put credit spread within a 2-3 hours and the Iron Butterfly usually less than an hour. Just using a 4/8 SMA and not much else. The Iron Butterfly is a non directional play, so it's just a pure premium catcher and nothing more. Another high probability trade is a regular call butterfly that I've tried a few times but that's usually takes a few days to play out which I don't normally like to do in this environment so haven't done a lot of those. Others really like them. The risk reward is exceptional. I've seen 1:3, 1:4 and as high as 1:6. Can't beat that with a stick.
I also like the IF and PCS on 0DTE SPX, but have stopped doing the former after some continuous losses. I am curious to know how you are using the SMAs for this strategy? Thanks.
 
I also like the IF and PCS on 0DTE SPX, but have stopped doing the former after some continuous losses. I am curious to know how you are using the SMAs for this strategy? Thanks.
Did you know that clicking on a member's avatar will allow you to see when a member was last seen on the uTS forum? @bobomatic has not been seen in a while. :(
 

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