Let the Underlying option chain pick your direction:
ES example:
Market @ 1300
Look at options pricing 5 strikes OTM.
Look at 1325 calls and 1275 puts.
If they are close to each other stay on the sidelines.
If Put > Call Open Short ie (11.00 puts vs 9.00 calls)
If Call > Put Open Long
Multiday:
RTH:
Set your stop to 1 strike and ride the trade out until put/call pricing relative to market price equalize.
ETH:
Consider trailing a stop. Options pricing skewed after hours.
Intraday:
Open between 9:15am - 10:30
Take profits of 2 strikes
Close out by end of session.
ES example:
Market @ 1300
Look at options pricing 5 strikes OTM.
Look at 1325 calls and 1275 puts.
If they are close to each other stay on the sidelines.
If Put > Call Open Short ie (11.00 puts vs 9.00 calls)
If Call > Put Open Long
Multiday:
RTH:
Set your stop to 1 strike and ride the trade out until put/call pricing relative to market price equalize.
ETH:
Consider trailing a stop. Options pricing skewed after hours.
Intraday:
Open between 9:15am - 10:30
Take profits of 2 strikes
Close out by end of session.