25% Satisfaction - SPY and Momentum Overnight

I am starting my 25% gain challenge.

The challenge here is Discipline, not just the gains.

Threads I contribute to:
SPY - SPY - Broad Market Analysis - #157 by rexxxar
AMC - AMC - Watching out for 1 final Bounce / Double Bottom
Ford Leaps - Leaps on Ford Motor Company
CHPT Leaps - Leaps on Charge Point
UPST Leaps - Leaps on UPST - Post ER
RBLX Leaps - Roblox Leaps and ER Strategy


This strategy has been consistently profitable–for as long as I stick with my process.
So far, I only have 3 trades (current) that are losing me money (read update below for April 22).
The returns may be lower in percentage, but are very good in value.
Winners outweigh the losers, since I don’t risk more than 2% of my port in single leg overnight positions anymore.
Learning from this, I will aim to cut down single leg positions further to only 0.5% max of my capital.

Update: So far so good. So for the curious ones, here’s my short checklist…

  1. Check the chart, what kind of pattern is it developing, I prefer an entry under $5 or $10, below vwap.
  2. News, what’s making it move, is it enough to attract new institutional buyers and retail fomo?
  3. Sentiment, reddit subs, twitter, stocktwits, discord servers, and if i have time then also youtube.

Update: Setting my own rules…
1a) I will only be playing Options on SPY and no other ticker.
1b) SPY will always/mostly be a Day Trade.1
1c) Overnight SPY positions will only be considered IF there’s a clear/expected market news/trend, and will never exceed $100 exposure.

2a) Shares will be played on other tickers.
2b) Positions will mostly be traded overnight.
2c) Larger positions may be considered for quick Day Trade scalps, if bullish momentum is great.

3a) SPAC/deSPAC positions will be minor–never more than 3-5% of the portfolio.
3b) SPAC/deSPAC positions must always be close to the NAV.

4a) ER plays are not counted–those are always gambles.
4b) Post ER-result trends may be considered.

5a) Crypto-currencies are not included.
5b) Leaps are also excluded.

Twice every week, I’ll be trading SPY. It will either be Monday and Thursday, or Tuesday and Friday.
In between, I will also be swinging momentum stocks overnight.
The challenge is to always cash out profits as soon as I see 25% gains, give or take.

On bullish days/seasons, the gains might be greater with expected volatility on the upside.
During choppy weeks, I will either be satisfied at 3-5% gains or just sit them out entirely.

My goal is to help myself grow on the conservative side.
The gambling side is already mature and full of losses, I assure you.
While I do enjoy my gains and growth on high-risk setups, longevity in the market is more desirable.

I started this challenge this week already with quite a pleasant outcome:
12/15 - SPY 2.95 call contract, sold at 5.37, 82% gain.
12/16 - SPY 0.6 put contract, sold at 1.42, 136% gain.
Obviously these gains are way off the 25% mark, but as mentioned above, some days are expected to gain more than others.
This week moved around the FOMC and QWD events and news.

Let’s see how things work out next week.


Excited to watch this. I might join you for some of these :slight_smile:

I’m gonna try mirroring this, I need a way to recover my portfolio, lol.


I’m curious to see how this plays out. Please keep us updated.

I have been thinking about this as well since essc! I don’t care much for the outcome come of those plays for me. All the green makes me chase more green.

I need to learn how to enjoy trading more and spend less time on the screen wishing the stock rockets!

I set the goal for myself to hit 15% gains! And only trade 3 days a week with spy.

Good luck!


Current overnight position…

GGPI - Jan 12.5c
This strike is close to the NAV of 10, and OpEx is 5 weeks away.
I also like the chart pattern.

Valhalla Forum Thread, by rpgeek:


Stock movements that I like…

No position yet. Will watch for a possible entry on one tomorrow.
Anywhere between 15-30% dips.
I may not announce it.

I don’t rush into positions.
There’s always a few making good ramp ups or down every week.
What I’m looking for is momentum.
What I don’t like is to get trapped sideways.

SOPA was great today.
Keep watch, possibly a multi-day runner.
Russell 2000 listing is huge.

SEAC is also interesting.
Quite the sentiment too on all these tickers mentioned.

SPY didn’t fully break down today.
I chose to stay out until tomorrow.
News are mixed up, though FUD is strong.

Related forum links:
SOPA - SOPA - Society Pass, Russell 2000 listing

BFRI - BFRI Biofrontera - #4 by ricktorl2

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SOPA did good here with 45% gain.
Overnight swing.

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BFRI gave me 9% gain overnight.
I forgot that I was holding shares instead of options and that threw me off. err… profit is profit.
Could have been my target of 25% but I’m really slow these winter days.

Now onto NXTD.
Again, I’m only trading on my own theories and personal research on these stocks.
I haven’t read any other DD yet, but the one here in the forum is linked below.

As you can see, I’m not trading much at all–micro position–with only 10 shares total at $41.70.
I thought I’d show what technical indicators I use, for those who’d like to try a similar challenge using WeBull.
These indicators are specifically for Low Floats Momentum trading.
VWAP - I try my best to catch the price below this, but only after confirming good Volume.
MACD and RSI - I pair these together all the time.
BB %B - Helps a lot in confirming best price entry.

Might not trade SPY until the New Year of 2022.
Historically, it pulls back down after the Christmas weekend. Keep it green, yall.

Related forum links: (will read this later)
NXTD - NXTD Nxt-Id, Inc. gathering information

Took an L due to my stubbornness. There were a lot of time to take in at least 10% of gains but I held on “for fun”. Not a bright example and I swear that will be the last.


Entered CPOP today, this is only the 2nd day of its momentum run…

As you can see, I have increased my position sizing this time too.
I like the pattern, and I like what the indicators are showing me.
The price to beat is only 3.97.

News wise, they have launched a new website and appointed a new CFO.

From here on out, I will be slowly increasing my position sizing on succeeding plays.
The goal is to still keep to overnight trades (shares), whether it be win or lose.

9% gain on 2nights swing here to $3.4.
It might go higher, but won’t be taking that chance anymore.
I was watching the 1sec candles and crazy sell orders kept pushing since Wednesday.

What’s great about Trading View is that it allows me to see up to 1 sec of measure.
This time I saw volumes of 30k to 50k shares being sold frequently.
Keep that in mind when trying to decide on what tools you want to use–all depending on how you trade.

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No more trades today. Ending the year real good.
I hope you all close 2021 with a great amount of education and enough gains to be encouraged to continue working the market.

Happy New Year everyone! Let’s trade even greener this 2022!!! :partying_face: :wine_glass: :beers:

I’ll be replacing my workstation fans this weekend with nerdy RGB stuff. Because aliens.
That and wine and beer and lots of fruits and vegetables to maybe balance things out.


I have resumed this challenge today.
Immediately broke my rule right at the get go and exceeded my limit.

Bought SPY 0DTE 455 at 1.210 and sold at 1.660 after only 5-6min.
37% gain today.

I used RSI to catch the breakout…


Uhh… lately, I’m realizing that 25% gains on SPY is always a miss for me–it can easily swing to 200% if I hold on for just an hour longer.
It’s weird because 25% is already high imho. Anyway, I won’t be posting results here higher than 50%.

I’ll try my best to force that discipline in me and practice typing that 25% Sell Limit right away.
So far, the way I’ve been doing it is judging momentum (when I have free time to do so).
It won’t be healthy for me in the long run, so I’ll just try to compute faster and exit automatically.

I do want to post the drawn-on chart though…

Trading range was established late midday (for calls).
Your entry could have been anytime between 12:30pm and 1pm.
This time, it was best to exit before 3pm.
Patience is key.

I think I’m starting to get really comfortable trading SPY.


Tried a single Vertical spread on SPY yesterday, knowing that DIS will have their ER later today.
This gained me a net of 12.73% overnight.

While I read the chart as possibly gapping up to 458.12, I forced myself to practice that discipline of locking my gains and cutting losses. So I count this trade as a success, since my goal–discipline–was met.

Yellow arrow marks my entry on the 5min chart…

Exit was a few minutes after market open, pink arrow.

Today, I took a single Straddle on DIS with the 145 strike.
Let’s see what it gives me tomorrow.

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I might have to rename this thread to just % Satisfaction. Since more often than not, the 25 limit gets beaten.

DIS filled the Daily gap today at the 147 mark…

Based on what we saw tonight during and after their ER, we will see the 155 gap filled tomorrow as well.
The final gap to fill will be the 164-174 area.
My ideas are drawn in green and orange.
I’m looking at a slight correction after we see DIS peak above the 200MA line.
That will be a good Double Bottom on the Weekly charts and a great opportunity for a horizontal spread.

Update: This trade gave me 20% gain at market open. Price immediately dropped after that due to the rest of the market tanking from the CPI data release.
I consider this trade as a failure, since I held instead of selling before the ER came out.


Got in with a SPY straddle 454 strike.
Bought at 5.27.

Sold at 5.6, for a 6.26% gain.
Busy day, easy gains.

Got in with AMC Feb18 straddle 18.5 strike.

Will probably sell tomorrow or Monday.