Been trading 0DTE for almost a year and out of nowhere, SPX made a huge jump in the last 30 mins just wipe out all of my gain for the last 4 weeks, my sold OTM Credit spread become deep ITM, I think I am done with 0DTE … cannot handle the stress anymore… do not listen to those Youtube trading GURUs that say they make easy money on SPX 0DTE
SPX leap 50 point in the last 30 min today… mini heart attack
byu/hondaman82 inoptions
Posted by hondaman82
9 Comments
It happens and this is why I do IC so at least I have one side that wins (a little).
You can also hedge by selling the spread and buying calls or puts in the other direction but you may end up with no money
Definitely don’t listen to those YouTube idiots.
Trader loses shirt when pantsed by the market, more at 11.
You can’t trade 0DTE the same way you trade cash and futures. It’s too volatile
The days to watch for expanded volatility are options expiry (third Friday) and the last day of the month! Unfortunately, you learned the hard way. 🙁
The last 15 minutes can swing 1% up or down!
You play 0DTEs with money you have no attachment to and are willing to lose. Can’t put “fuck it, let’s see what happens” money into an 0DTE and then be upset that you lost it all.
I made a grand on SPX call today. Also cash in on some swings.
It was easy money! I waited patiently for that reversal today. End of month is always volatile. My NDX 5-50!!
0dte is the best be to long options. End of day is even better
0dte is the worst time to be short options. End of day is even worse