Should I even bother watching the underlying chart (specifically SPY & TSLA)?
As I was talking to a co-worker, that trades options at a much fast pace than myself, he mentioned time decay while spy is trading sideways which got me thinking…
If we just trade the chart for a high volume strike near the money call and put without watching the underlying itself would this make the time decay factor more manageable or easier to identify?
The only drawback at this moment I can think of is trading an expiration or two out may cause the chart to look odd considering the options nearest to expiration have the most volume.
To whom it may concern… I use the end all be all of indicators in the “confirmation candles” thread. The following screenshots are from mobile with limited functionality but it does the job (the best mobile set up of all time… also take my opinion with a grain of salt)
SPY 1Min chart
SPY230109C389 chart
As I was talking to a co-worker, that trades options at a much fast pace than myself, he mentioned time decay while spy is trading sideways which got me thinking…
If we just trade the chart for a high volume strike near the money call and put without watching the underlying itself would this make the time decay factor more manageable or easier to identify?
The only drawback at this moment I can think of is trading an expiration or two out may cause the chart to look odd considering the options nearest to expiration have the most volume.
To whom it may concern… I use the end all be all of indicators in the “confirmation candles” thread. The following screenshots are from mobile with limited functionality but it does the job (the best mobile set up of all time… also take my opinion with a grain of salt)
SPY 1Min chart
SPY230109C389 chart
