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Monday was a fairly quiet day on Wall Street, as the S&P 500 closed just 28 cents lower, a move of -0.01%.

It feels like it’s been a while since I’ve written something like that!

As I mentioned over the weekend, we’ve seen a lot of wild intraday swings lately. And this kind of volatility is something options traders revel in as we have the ability to turn these large moves into huge gains in a short amount of time.

But you don’t have to wait for volatility to pick up to pull in massive returns if you have the right system, you can make outsized returns even on flat days.

Case in point: Traders who followed Monday’s Trade Of The Day alert could have made up to 84% in just three hours.

If you’re unfamiliar with it, the Trade Of The Day represents the single option trade I believe is the best bet for your money on a given day.

It’s always on SPY the highly liquid ETF that tracks the S&P 500. Trading the same ticker every day for the past few years gives me a huge advantage.

I know exactly how it trades and which patterns work best.

Each trading day, I get up at 3 a.m. Eastern to analyze overseas markets and look for potential market-moving news. Then I scrutinize SPY’s chart.

Specifically, I’m looking to identify support and resistance levels and which pattern I will look for on that day’s chart to trigger a trade entry.

If you’re interested, I go into greater detail on my three-step premarket process here

For today’s purposes, the point is simply that I get over a six-hour jump on the market so I have plenty of time to conduct a thorough analysis and deliver the Trade Of The Day alert to members (via email and text) 30 minutes before the market opens.

The alert contains my thoughts on how the market will trade that day, key levels to watch and a specific option trade on SPY… Strike price, expiration date, call versus put the whole nine yards.

Monday’s Trade Of The Day In Action

In Monday’s alert, I told traders that SPY was approaching $300 an important psychological resistance level.

Last time this happened, which was in late August, it was a clear selling point, as you can see in the chart below.

In addition to SPY approaching this key level, Friday’s trading action produced a doji candlestick (blue arrow).

 

 

If you don’t know what a doji candlestick is, it’s simply formation that occurs when a security has a nearly identical open and close, and it represents indecision.

All else being equal, this indecision would have me leaning bearish (i.e., put options).

I told traders that I would be watching charts closely leading into the open as I believed we could see a very short-term pullback.

I added that we may see a “mirroring” effect of European markets, which is often the case. In this instance, I meant that U.S. stocks may also open near their highs of the day and then slowly creep lower as they had down a few hours earlier in Europe.

And lo and behold, this is exactly how Monday played out.

In the chart below, which includes extended premarket hours, you can see a declining channel (blue box) with increasing selling volume in the premarket.

This led to an immediate drop at the open paired with increasing selling volume.

 

 

Less than two minutes after the market opened, I alerted members via email and text that our trade plan had triggered. And those who followed the alert could have booked an 84% profit in three hours.

This just goes to show you that you can make outstanding gains even in flat markets if you have the right system on your side

If you’re interested in putting the power of my system behind your trading, you can do so here.

 

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