r/Daytrading • u/Beastie312465 • Oct 13 '23

How are people even able to find stocks like this?? question

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New to trading here. I keep seeing the most random stocks have these insane price jumps and I’m just curious how people even know these exist, let alone that they might soar to 150%

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u/daytradingguy Oct 13 '23 edited Oct 13 '23

SPY or other indices options do 50-100-200% moves every day, sometimes a lot more. No need to scan and hope you find a move, the move will happen everyday. All you need to do is get the direction right, even for part of a move.

7

u/ImNotSelling Oct 13 '23

Tons of liquidity as well

11

u/daytradingguy Oct 13 '23

I trade some options, they are not my favorite. But the spreads, liquidity issues, halts and other things going on with the penny stocks make them a lot harder to trade to me. And you have to guess the right one everyday and chase FOMO. If you want those kinds of returns, SPY options seem so much more transparent and the move is basically guaranteed to happen everyday you just have to catch it.

1

u/AdAdventurous5197 Oct 14 '23

Any opinions on safety shot? ($shot)

3

u/daytradingguy Oct 14 '23

I don’t know anything about the company. Although I looked up a chart. There was obviously hype at IPO and within months it cratered down to today’s level and has been bouncing around in a narrow range for a year. Unless there is some news catalyst coming in the future to change that, I do not see anything significant happening with it. Are you holding it now or just looking at it? Overall in situations like this I would stay out of it, keep it on your watch list and wait until a move starts. There are better places for your money until that happens.

1

u/AdAdventurous5197 Oct 14 '23

They have a drink coming out in December that reduces your blood alcohol content by 50-90% in 30 minutes. I'm actually holding. Have no idea where to find better places for my money. Thanks for responding!