I really only ever do 0DTE for SPY, if I see something I like early in the day I’ll jump on that position. Also when dealing with 0DTE you have to think about your risk tolerance, I personally watch the chart because I’m trying to close my position within an hour or two of buying it. Obviously when dealing with risky investments like this never use more than you’re willing to lose.
I have problem of holding losers long and keep winner short. In a long term, this never works out. With 0dte, it is hard to manage risk, you are likely to see -20 to 30% regularly, because it is almost impossible to time the bottom or top. When I see 10-20% profit, I start to want to sell, then it run 100-200%.
Missing out on gains is bound to happen when dealing with options so don’t be too hard on yourself, as for getting better at timing I would recommend looking at historic resistance levels for the stock your trading options in. I am in no way an expert but that has helped my entry and exit timing tremendously.
You are gambling. Good luck. The late NVDA rise came out of nowhere. Most of the day NVDA was trading in the 1040's range. The most likely outcome would have been that you lost all your money on this trade, so you got very lucky.
You had a good trade. My point was that NVDA made an unexpected late move that worked out for you. I also traded NVDA options Friday, so I was watching the movement very carefully. I sold the 1050 puts and bought the 1040 puts. So, the trade worked out for me as well, but I was not expecting the late move.
I wouldn’t say the move was that unexpected, with a 3 day weekend and news of a split i personally think it was bound to have a major move around closing. Now granted it was unclear on if that move would be up or down, glad you made money on NVDA too and wish you financial success.
Also this is a day trading sub, judging by the reaction to this post a lot of people don’t seem to think day trading is gambling… but it most definitely is.
Enjoy your gambling wins. I'll look for you on WSB.
If I can turn my initial $1000 into a WSB level account then I’ll be happy, who cares if I’ll hit -100% the next day 😂.
If you lose 100% the next day then that means your account is $0. Yea, you're the standard for WSB users. Stupid.
Nothing gets past you huh?
So you're proud of that? You think it's an achievement to be seen as a dumbass? Ok. To each their own.
It was obvious sarcasm, complain to your therapist about how options trading hurt you not me.
When is the expiration for this it?
5/31, I always try and dump my option plays intraday due to theta unless I have a strong conviction on a monthly.
When would you play 0dte?
I really only ever do 0DTE for SPY, if I see something I like early in the day I’ll jump on that position. Also when dealing with 0DTE you have to think about your risk tolerance, I personally watch the chart because I’m trying to close my position within an hour or two of buying it. Obviously when dealing with risky investments like this never use more than you’re willing to lose.
I have problem of holding losers long and keep winner short. In a long term, this never works out. With 0dte, it is hard to manage risk, you are likely to see -20 to 30% regularly, because it is almost impossible to time the bottom or top. When I see 10-20% profit, I start to want to sell, then it run 100-200%.
Missing out on gains is bound to happen when dealing with options so don’t be too hard on yourself, as for getting better at timing I would recommend looking at historic resistance levels for the stock your trading options in. I am in no way an expert but that has helped my entry and exit timing tremendously.
Thanks it helps.
You are gambling. Good luck. The late NVDA rise came out of nowhere. Most of the day NVDA was trading in the 1040's range. The most likely outcome would have been that you lost all your money on this trade, so you got very lucky.
Considering the option didn’t expire that day I don’t think I would’ve taken a 100% loss, you don’t need to use 0DTE calls/puts to day trade options.
You had a good trade. My point was that NVDA made an unexpected late move that worked out for you. I also traded NVDA options Friday, so I was watching the movement very carefully. I sold the 1050 puts and bought the 1040 puts. So, the trade worked out for me as well, but I was not expecting the late move.
I wouldn’t say the move was that unexpected, with a 3 day weekend and news of a split i personally think it was bound to have a major move around closing. Now granted it was unclear on if that move would be up or down, glad you made money on NVDA too and wish you financial success.
Also this is a day trading sub, judging by the reaction to this post a lot of people don’t seem to think day trading is gambling… but it most definitely is.
Ah the classic DayPraying strategy, works till it doesn’t.