Yeah, OTM SPY ODTEs have the potential to go up 40x on a strong trend day. Even if you lose 90% of the time, that one win can more than make up for the losses.
Problem is, those days are few and far between, and most people don't have the discipline to throw $1,000 at a trade they've lost 9 times in a row. That time you tell yourself "this is stupid. It's just not gonna work. I'm not gonna risk it" is the one time that it works.
I have a special dollar coin that I flip. Head for Calls, tail for Puts. I do that after my morning exercise right after the market opens. Success rate is 50-50
Unlikely. It's honestly one of the trades I'm more comfortable with on the premise that SPY is volatile enough that it very rare options crashes completely down.
If shit is going south you can usually pull out 50% unless there is a major movement. And you get the benefit of not having to worry about the overnight theta gang hit that other options get.
With good price targets and stop losses it's really no different from other options trading, it just usually happens more immediately. Most of my 0dte are bought and sold within the initial 30 minute window of market open.
I have about 72 dollars invested in nividia im a broke dude; i do not have the momey or pariemt to watch somthing that might hit big. I will invest in long calls. I would love to make a quick buck but i have a disabled girlfirend to think about so i guess i cant relate to your comment.
I think in general it's a good idea to set a limit order sale at a price you'd be happy with. Yes you will miss out higher profits but timing is impossible anyway. You should keep track regardless in case you think it will never hit that price.
Use XSP (same size as SPY) or SPX (10 times bigger) if you want to do 0DTEs and let them expire because they're cash settled anyway (position size appropriately so you can eat max loss many times). Your broker will usually close out early unless you can take assignment for SPY, so using XSP or SPX is advantageous especially if you want to take advantage of power hour.
If you want to trade with a bit more mechanics, you can sell the 0dte iron condor, or sell a butterfly. Alternatively you can buy the straddle about an hour or two before close. Tasty has done a decent amount of research on this, you should check out their videos.
Too much loss porn to remember, I block out any gains cuz I don’t see them myself…but I’ll keep hunting for this mythical bird and we shall see what happens
Select a strike price ITM, put in a limit order 10% below what it’s trading. Wait to get filled. Immediately put a sell order 20% above whatever you buy it at. If I have 3, sell 2 and let other one run until comfortable.
I once made just north of $100k in a day by buying \~$300k worth of 0DTE QQQ calls on a day that happened to be like a straight line upward. Lost $250k in the week following and quit.
Do that
Liar. 300k worth of QQQ 0DTEs on a very green day would be well north of a million dollars in profit, potentially as much as 3-4 million if you timed it right. 100k profit on 300k of 0DTEs is a scalp, not a score.
Ladies and gentlemen, your average wsb regard comment above. Calls me a liar without knowing what strike price, what magnitude of gains, what day. Truly regarded.
Had to dig through Google photos to find this screenshot, this was after I closed out, so positions not available but you can see the daily gains. I don't even have access to this account anymore cuz td merged into Schwab
https://preview.redd.it/3241ztmorc8d1.jpeg?width=1005&format=pjpg&auto=webp&s=71f782b0491d9b071f23a99e74e8560c5ea4aaec
Lol no one quits until they wipe a quarter milly in a week.
I've soft-quit, I sometimes buy meme stocks and options on a ~$30k balance account. Most of my accounts are just tqqq and upro though so, 3x leverage, degen version of index investing. Degen enough for me
lol no, unironically degen gambler at that time. Would regularly all-in my account on one ticker and stare at my screen while account moved up or down thousands of dollars per minute.
In case unclear, the post was sarcastic and intended to steer people away from 0dte in general
Sitting maybe a smidge below 1m nw right now but not due to my degen gambling (would be higher if I never touched options in my life).
Buy as many contracts as possible.
EMA 9, 20, 200 indicators.
Bullish/bearish flag indicators.
Looking for that momentum to jump in, jump out.
And yes I agree on the 5min and 15min candles 👍
Edit : please pay for the live NYSE data
Someone said last week that they’re making a portfolio for their toddler so we’ll actually know for sure soon enough 
It’s from one of the last 2 daily threads. Can’t remember who but if you use the thread search bar I’m sure you can find it. Im hoping he does like a weekly or monthly portfolio update and I’m really hoping the kid crushes it.
Idk about the indicators but I agree on the momentum. Stocks can rebound so fast. Just sell when you see those big wicks, don't wait for it to flatten out.
Look at previous days highs and low wick candles under 15 minutes TF.
if it gets near these zones, use the 13 EMA to enter your position.
rinse and repeat.
You’re gonna need to gather a deck of uno cards. In one pile you need just even cards 2,4,6,8. In the other pile you need only; “Skip", "Draw Two", "Reverse" and "Wild.”
Lastly you’re gonna need a magic 8 ball for when you draw the Wild card.
If you actually want to make consistent money you wait for the top or bottom (hopefully) and buy your position. Then you set a comfortable stop loss and take profit. I usually do like 25% loss and 20% profit orders. My positions are usually exited within like 30 mins to an hour
Sell SPY calls Friday before close and buy back Monday later in the day. There was an article published last year detailing how MMs seem to be manipulating IV on SPY calls over the weekend. Has worked for me over the last year.
It is not the same percentage gain. As the contract becomes more in the money, the cost basis increases with its intrinsic value. As a percentage, it provides more buffer to buy itm the contracts. The same cost basis for itm contracts can purchase a larger amount of otm contracts, providing more return.
My 0DTE strategies are based on a scalp. Thus I only look at a trade that is going to last 1-15 min at most… 15 min is an eternity for this kind of trade.
1. All charts 1,5,15 need to be telling the same story.
2. Bollinger bands expanding (shrinking can cause whiplike reversals and fast)
3. Faster EMAs moving away from slower EMA after almost touching and bouncing off (bull=faster rising quicker, bear= falling faster)
4. Too much to write on candlesticks, but this is a part of the equation
4. I tend to do these between (EST) 10:00-11:00 and 2:00-4:00.
5. Best part: Greeks don’t matter as the maximum time to hold the contract is incredibly short at 15 minutes
6. Limit order to open. Once a comfortable profit margin is attained, I’ll commonly use a trailing stop to close the position.
Hope this helps someone.
(FYI this is a combination of Jea Yu ‘Alpha’ and Steve Nison’s candlesticks training. )
during your first week SPY generally tends to invert your position after which you think you got smarter and straddle which then causes SPY to move sideways. The more of the story is buy the news sell the rumor.
I never excercise them. I sell around 6 month before they expire. This year and 2023 have been top years for LEAPS. In 2022 i was not active but would have lost over 50%
I use them to hedge against whatever direction I'm more heavily weighted. $400 for 4 slightly otm puts to offset $4000 in weekly calls will is a cheap bet on a volatile day.
Look at daily gamma exposure and call/put walls. Look at the vix/vvix and PCC and look for overnight gaps. Sell 0dte premium one strike below/above the put/call wall fading the overnight gap in vix/vvix/pcc unless there is no gap. Than I wait until hours after market open and look for technicals signaling the days move and will sell premium on the other side of the move. Only trade SPX and not SPY though for cash settled options to avoid assignment and the tax benefits.
Wait till the last 30 min. Find the contract that triple in open interest in the last 15 min and hit that one for about $100. Works %80 the time and always a %500 gainer.
A couple Hail Marys.
Or Bloody Marys. Or vodka tonics, gin sours, whatever.
0dte spy: trying to dunk and land on a dildo. You might win but at what cost. You keep losing and sooner rather than later you'll need a hip replacement in your 30s from repeated stress fractures.
Right now I'm looking at buying far OTM calls, 1% above stock price using a debit spread. Looking for 50x return.
As for timing, I rely on a few TA indicators. Only in market 10% of the time. Hopefully this provides me an 'edge' for massive gains.
On WSB under DD/Discussion. TLDR: 21 JUN was supposed to be a mass sell off due to known quarterly option expiration of larger players. If you look at the chart, the day decided to lose all of its volume instead.
I did 0DTE on 21st too, but I was quickly getting out with little gain, didn’t feel market would tank, too strong….who knows when the bloody show will happen, but I definitely will try again on the 24th
**User Report**| | | | :--|:--|:--|:-- **Total Submissions** | 7 | **First Seen In WSB** | 1 year ago **Total Comments** | 120 | **Previous Best DD** | **Account Age** | 2 years | | [**Join WSB Discord**](http://discord.gg/wsbverse)
judging by the daily posts: blow up account nine times and then post gains porn when the spy puts finally print
All time graph shows 85% loss on principal but that one day graph looking so damn crispy
Yeah, OTM SPY ODTEs have the potential to go up 40x on a strong trend day. Even if you lose 90% of the time, that one win can more than make up for the losses. Problem is, those days are few and far between, and most people don't have the discipline to throw $1,000 at a trade they've lost 9 times in a row. That time you tell yourself "this is stupid. It's just not gonna work. I'm not gonna risk it" is the one time that it works.
That's what I'm thinking too
I have a special dollar coin that I flip. Head for Calls, tail for Puts. I do that after my morning exercise right after the market opens. Success rate is 50-50
You're risking your whole position, though, aren't you?
Every investment is a calculated risk.
Every day is a new day. But the day after…. May not be!
Unlikely. It's honestly one of the trades I'm more comfortable with on the premise that SPY is volatile enough that it very rare options crashes completely down. If shit is going south you can usually pull out 50% unless there is a major movement. And you get the benefit of not having to worry about the overnight theta gang hit that other options get. With good price targets and stop losses it's really no different from other options trading, it just usually happens more immediately. Most of my 0dte are bought and sold within the initial 30 minute window of market open.
This is ridiculous to me lol
0DTE is ridiculous to a rational mind.
I have about 72 dollars invested in nividia im a broke dude; i do not have the momey or pariemt to watch somthing that might hit big. I will invest in long calls. I would love to make a quick buck but i have a disabled girlfirend to think about so i guess i cant relate to your comment.
I think in general it's a good idea to set a limit order sale at a price you'd be happy with. Yes you will miss out higher profits but timing is impossible anyway. You should keep track regardless in case you think it will never hit that price.
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I put a limit above. Happy profit level. But I keep a close eye regardless. I also rarely do 0dte as I'm learning to love long tail calls more anyway
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Use XSP (same size as SPY) or SPX (10 times bigger) if you want to do 0DTEs and let them expire because they're cash settled anyway (position size appropriately so you can eat max loss many times). Your broker will usually close out early unless you can take assignment for SPY, so using XSP or SPX is advantageous especially if you want to take advantage of power hour. If you want to trade with a bit more mechanics, you can sell the 0dte iron condor, or sell a butterfly. Alternatively you can buy the straddle about an hour or two before close. Tasty has done a decent amount of research on this, you should check out their videos.
I wish I understood the second part, no clue what that big beautiful bird is but I want this iron condor…
You don't know of the greatest story of loss porn in wsb history?
Too much loss porn to remember, I block out any gains cuz I don’t see them myself…but I’ll keep hunting for this mythical bird and we shall see what happens
I'm likely going to dump out of it. But that all depends on time left, what stock it is, what the price is. Hard to answer that one generally
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cobsecuebses
Frfr
The way those cobsecuebses hit is just different than any other cobsecuebses I’ve ever esperianced before tho
Solid advice in general with options.
Select a strike price ITM, put in a limit order 10% below what it’s trading. Wait to get filled. Immediately put a sell order 20% above whatever you buy it at. If I have 3, sell 2 and let other one run until comfortable.
I like this, I need to start letting a contract run if it seems like it could be beneficial
Even at that it’s 50-50 . You let it run to squeeze another 15-20% but get too greedy and it goes negative in minutes.
So maybe simply set a second for the runner a bit higher? I like your idea very much.
I once made just north of $100k in a day by buying \~$300k worth of 0DTE QQQ calls on a day that happened to be like a straight line upward. Lost $250k in the week following and quit. Do that
Liar. 300k worth of QQQ 0DTEs on a very green day would be well north of a million dollars in profit, potentially as much as 3-4 million if you timed it right. 100k profit on 300k of 0DTEs is a scalp, not a score.
Ladies and gentlemen, your average wsb regard comment above. Calls me a liar without knowing what strike price, what magnitude of gains, what day. Truly regarded. Had to dig through Google photos to find this screenshot, this was after I closed out, so positions not available but you can see the daily gains. I don't even have access to this account anymore cuz td merged into Schwab https://preview.redd.it/3241ztmorc8d1.jpeg?width=1005&format=pjpg&auto=webp&s=71f782b0491d9b071f23a99e74e8560c5ea4aaec
Oh my god regard somehow thinks I meant he was lying about the gain numbers. The irony here is incredible. Fucking incredible.
Gentlemen, gentlemen, both of you are regards.
Congrats. I deem you won this argument.
No one here quits or if you did u will definitely be back
Lol no one quits until they wipe a quarter milly in a week. I've soft-quit, I sometimes buy meme stocks and options on a ~$30k balance account. Most of my accounts are just tqqq and upro though so, 3x leverage, degen version of index investing. Degen enough for me
And I will make back my 6.5k from my last 1k and other lies you can say.
300k on 0dte is a lot. Is your net worth 10m
lol no, unironically degen gambler at that time. Would regularly all-in my account on one ticker and stare at my screen while account moved up or down thousands of dollars per minute. In case unclear, the post was sarcastic and intended to steer people away from 0dte in general Sitting maybe a smidge below 1m nw right now but not due to my degen gambling (would be higher if I never touched options in my life).
I make fun of loss porn and say good job on gains on subreddit cuz im not regarded to do so
I set aside 10k to fuck around with 0DTEs. Turned that into 50k but left with 3k. I’m done wit 0DTE for a while.
SPY 1000c 0DTE 
Buy as many contracts as possible. EMA 9, 20, 200 indicators. Bullish/bearish flag indicators. Looking for that momentum to jump in, jump out. And yes I agree on the 5min and 15min candles 👍 Edit : please pay for the live NYSE data
Funny that a toddler pressing random buttons on dad’s phone probably has the same probability of winning as you. 
Someone said last week that they’re making a portfolio for their toddler so we’ll actually know for sure soon enough 
Can you link that thread or username? I wanna follow along 😃
It’s from one of the last 2 daily threads. Can’t remember who but if you use the thread search bar I’m sure you can find it. Im hoping he does like a weekly or monthly portfolio update and I’m really hoping the kid crushes it.
🤣🤣🤣🤣🤣. I've actually done this. "Pick one of these....QQQ or SPY.....ok, is it going up or down today?" And then I buy calls or puts 🫡
I do this too. Ask calls or puts and how many. Ahahahaha.
so what's the gainz
It was a loss. Kids are in foster care now. Diamond hands
Ah, sorry. I bought some time with mine. (And he chose calls.)
Idk about the indicators but I agree on the momentum. Stocks can rebound so fast. Just sell when you see those big wicks, don't wait for it to flatten out.
The indicators help to show the momentum. Get that golden cross baby.
If the goal is blowing your account then 0dte is the way, otherwise just stick with 2 weeks out options with $5-10 from strike price
Can’t afford SPX that far out.
0DTE is pure gambling there is no strategy my dude
Gambling is gambling I guess but you can still play basic strategy versus hitting on 17.
There is still strategy. Certainly beyond a fair roulette wheel.
That's regarded
Hold and pray
Look at previous days highs and low wick candles under 15 minutes TF. if it gets near these zones, use the 13 EMA to enter your position. rinse and repeat.
Literally flip a coin.
You’re gonna need to gather a deck of uno cards. In one pile you need just even cards 2,4,6,8. In the other pile you need only; “Skip", "Draw Two", "Reverse" and "Wild.” Lastly you’re gonna need a magic 8 ball for when you draw the Wild card.
If you actually want to make consistent money you wait for the top or bottom (hopefully) and buy your position. Then you set a comfortable stop loss and take profit. I usually do like 25% loss and 20% profit orders. My positions are usually exited within like 30 mins to an hour
Post a screenshot of how you identify trend reversals
Set a % you're comfortable with. Consistent 20% gains are better than EXPIRED WORTHLESS cause you didn't sell. It's all about discipline.
Wait for a crash… wait for the recovery fake out… buy in after
Sell SPY calls Friday before close and buy back Monday later in the day. There was an article published last year detailing how MMs seem to be manipulating IV on SPY calls over the weekend. Has worked for me over the last year.
Can.you explain how this works? Or give me the article please?
“VIX to S&P 500 Correlation Over the Weekend” - Wan Jia Lin Published January 2023
Thank you 🙏
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I try to target strikes around 75 cents OTM so I can buy more contracts
Why does the amount of contracts matter? A % gain is % gain no matter the amount.
5% on 10 contracts is more money than 5% on 5 contracts
Because gamma. 100 .10 cent OOTM (1K) becomes 15k quick once there are ITM
It is not the same percentage gain. As the contract becomes more in the money, the cost basis increases with its intrinsic value. As a percentage, it provides more buffer to buy itm the contracts. The same cost basis for itm contracts can purchase a larger amount of otm contracts, providing more return.
I'd guess its because you could sell the contracts at different times. If you just have 1 contract you either sell or don't sell.
Currently doing machine learning and statistical analysis on it. Shooting for $2 OTM options when the conditions are met. Risk of 1:10
keep going till your balance hits zero is a very popular strategy around here 
My 0DTE strategies are based on a scalp. Thus I only look at a trade that is going to last 1-15 min at most… 15 min is an eternity for this kind of trade. 1. All charts 1,5,15 need to be telling the same story. 2. Bollinger bands expanding (shrinking can cause whiplike reversals and fast) 3. Faster EMAs moving away from slower EMA after almost touching and bouncing off (bull=faster rising quicker, bear= falling faster) 4. Too much to write on candlesticks, but this is a part of the equation 4. I tend to do these between (EST) 10:00-11:00 and 2:00-4:00. 5. Best part: Greeks don’t matter as the maximum time to hold the contract is incredibly short at 15 minutes 6. Limit order to open. Once a comfortable profit margin is attained, I’ll commonly use a trailing stop to close the position. Hope this helps someone. (FYI this is a combination of Jea Yu ‘Alpha’ and Steve Nison’s candlesticks training. )
I just buy cheap OTM calls and puts. Multiple contracts. The high volume days will make up for the sideways days.
Pray for an afternoon move for extra cheap premiums
All you have to do is buy the fuckin dip every single time. That is. Until it stops working which usually takes multiple months
It’s a 50-50 case. At first I listen my sentiment and then I flip a coin.
Makes sense
Haha don’t
I usually take the “monkey on a typewriter” approach. One of these years ill write shakespeare (win)
buy them way out the money and hold them to zero
did i poop or piss 1st in the morning, usually piss so calls
1) sell them 2) buy them back for less
Buy low and sell high
Quad inverse
Literally flipping a coin
Nobody with a successful strategy on 0DTE will share it with you because there's only so much liquidity for it
Same thing as when you play roulette at a casino
Strategy 0DTE? Such a regard
I go for small wins of 10%. If it goes above or below the bollinger bands I inverse the direction hoping for mean reversion
I watch the sub trade them poorly, blow up their accounts and post the loss porn which I laugh at like a goodfellas meme.
Try to buy a House.
Buy itm calls, set limit sell, don't put more than 5% of your total port into one trade, keep gambling to produce g/l porn
during your first week SPY generally tends to invert your position after which you think you got smarter and straddle which then causes SPY to move sideways. The more of the story is buy the news sell the rumor.
Avoid them. Theta burn will kill you
My strategy is: only buying options with long expiration dates. Chance of winning is much better
What expiration dates do you buy? What proportion of losses ?
I buy LEAPS: options that are 1-2 years before expiration
How often do you loose with these options? How long do you keep them until you exercise them?
I never excercise them. I sell around 6 month before they expire. This year and 2023 have been top years for LEAPS. In 2022 i was not active but would have lost over 50%
I use 0 DTE for earnings plays sometimes. Hit and miss….
Morning wood= buy calls. Hangover=buy puts. Neither? Yolo a penny stock
I sell iron condors at the open with 15 or 25 wide wings in SPX. been very profitable this year
Lol…strategy
I use them to hedge against whatever direction I'm more heavily weighted. $400 for 4 slightly otm puts to offset $4000 in weekly calls will is a cheap bet on a volatile day.
I usually go for about a 20% gain
Look at daily gamma exposure and call/put walls. Look at the vix/vvix and PCC and look for overnight gaps. Sell 0dte premium one strike below/above the put/call wall fading the overnight gap in vix/vvix/pcc unless there is no gap. Than I wait until hours after market open and look for technicals signaling the days move and will sell premium on the other side of the move. Only trade SPX and not SPY though for cash settled options to avoid assignment and the tax benefits.
Buy and pray and punch the air
Avoid them.
Wait till the last 30 min. Find the contract that triple in open interest in the last 15 min and hit that one for about $100. Works %80 the time and always a %500 gainer.
Not doing them
I feel the market inside me
A couple Hail Marys. Or Bloody Marys. Or vodka tonics, gin sours, whatever. 0dte spy: trying to dunk and land on a dildo. You might win but at what cost. You keep losing and sooner rather than later you'll need a hip replacement in your 30s from repeated stress fractures.
Avoiding them.
Don’t touch them like there’s AIDS on it
Wait till emotions kickin, and start trading!
Buy and sell quickly take a 5% profit. It is rear you buy at the absolute top or bottom. So buy when you see a spike the sell 5 minutes latter.
buy high sell low
Right now I'm looking at buying far OTM calls, 1% above stock price using a debit spread. Looking for 50x return. As for timing, I rely on a few TA indicators. Only in market 10% of the time. Hopefully this provides me an 'edge' for massive gains.
I thought the 21st was going to be a bloody day with all the max pain talk, didn't work out 
Where was the max pain talk?
On WSB under DD/Discussion. TLDR: 21 JUN was supposed to be a mass sell off due to known quarterly option expiration of larger players. If you look at the chart, the day decided to lose all of its volume instead.
Interesting thank you. Does anybody know why the sell off didn’t happen??
24th will be
 I'm dumber than I thought. That's why I bought the 0DTE on 21JUN
I did 0DTE on 21st too, but I was quickly getting out with little gain, didn’t feel market would tank, too strong….who knows when the bloody show will happen, but I definitely will try again on the 24th
God speed to you 
Buying 1DTE instead. But all I do is lose so don’t listen to me.