Hey Heather. I just finished reading your book ITM: Bull Market. It’s a fascinating read but not practical. Let me explain. You talk about buying SPY call options at a 50% strike price to the current price of the ETF. I just checked my Schwab account which is one you trade on according to your book and can’t find a strike price lower than $400 for SPY for Sept 30, 2025 when SPY is currently trading at $596 and yes, I did click the all options tab.
Okay, you can scratch that whole paragraph as I decided to check if it were Friday options I need to look at and to my surprise you can go beyond 50% even as low as $150 strike price. So now I’d like to say you may want to let traders know it is Friday options you need to trade.
You did mention in your book about the triple witching on Fridays, but I guess I didn’t realize you meant to only trade Friday options on SPY. I hope others can use this information that may have been thinking the same thing I was that you can’t trade the SPY calls at the prices you quote in the book, but now I know that you can if you trade Friday options.
Okay, that was a bit long-winded but I love your book. I will say that if I hadn’t read a more complicated book on options (I will spare you the agony of naming it here as you need to make money off of your book) years ago I may not have understood the concepts you laid out in your book even though you have greatly simplified it. I guess never having gone to college (which I certainly don’t regret) may be why.
I would recommend your book as a starter options book but it did help me to understand better why 60% of options traders only trade SPY. That is a figure I read somewhere. I hope it is correct.
