actually if you buy at this level, it's OK.
But it shouldn't be day trade, 100% should be swing trade. No option. IV collapsing will kill you.
And you have to prepare to add lower.
see, this is 5mins chart of yesterday for SPY July 101 call.
The bounce gave you max $0.7 per call; assume you bought 30 calls, that's $2100 profit.
during the same period, ES bounced 9 points, 30 call = 6 ES contracts, 9 points is $2700 profit, 28% more than call profit. Which one is better? LOL
It's caused by IV sharply down. Most people don't pay attention to this.