SPY Day Ttadimg

I use simple options:
1. sell secured put to get the stock I want to buy. If assigned, i will get the stock at a cheaper price. If option expires otm, i get to earn some premium.
2. sell covered call to earn some money while waiting for the stock to be called away at a strike price I am prepared to sell.
3. buy bull call spread to gain limited profit if the stock price moves up.

I use options trading for 3 purposes:
1. Buy value stock at cheap price
This is done by selling put options (covered) at a price you can afford. For example, if I want to buy 100 Apple share at USD 160 (currently is USD 180), it can be done by selling a put options at strike price USD 170. I can earn a premium while waiting for the price to drop (if the price drops).
2. Sell stock at a higher price
This is done by selling call ...

Risk defined hedging strategy based on portfolio size.

Option trading cam be an excellent source of income. Selling calls and cash secured puts are relatively simple and relatively low risk. Not ‘no’ risk, though. The Wheel Strategy is a pretty good ine during bull markets but disastrous in bears. And always easy to see a bull in hindsight. Another downside to selling is you will probably miss big moves as the stock will get called. Bottom line: Options can be  reasonable risk with decent i income.

I look for more expensive stocks with large, frequent price change trends lasting about a month or so (most easily seen on a line chart). when the Bid/Ask spread widens (e.g. -$0.10 -- +$8.00)  I take that as a sign that a turnaround is near and will enter a limit price around 25-33% up from the Bid, GTC. When the  order fills, I set a Sell Limit order about 40-60% of max profit GTC and wait for it to hit. Monthlys only, strikes about $10 wide.

I usually look at previous day chart with stock that had moved up most in positive positions once i check that  I look at after hours trading chart and compare last one month chart open market and after hours market chart. Addition I look for if there is any latest news about company I am betting on. Once I check all these i buys calls if higher amounts involves i go for long date but if amount is small I go for weekly options. Once I see 20-30 % gain I sell the contract.