SPX 0dte Income Trading - April 6’22 4425/4420 Bull Put Spread
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💡 April 6’22 4425/4420 Bull Put Spread
$80 Premium Received (per contract)
86% Probability of Profit (at entry)
10:15 AM Time of Entry
This is a counter trend trade, wrote below the demand zone of 4465-4445, there sits the 50 DMA, 20 DMA, 50 WMA, and the 4450 negative gamma strike.
VIX 24.6, Implied move of 1.54%, any relief rally should see some crush in the VIX which will greatly help out my position.
Oversold on the 1H and 15M, however, oversold can get more oversold.
My expectation is for a small relief rally into the PM before the release of the Fed minutes.
WHAT IS 0DTE TRADING?
0dte or zero days to expiration refer to the last trading day for an option contract. The Chicago Board Options Exchange ( Cboe ) lists weekly options on the S&P 500 Index (SPX) with expirations every Monday, Wednesday, and Friday. Since most options expire worthless we take advantage of this by selling credit spreads to collect premium. Our option trading strategy allows us to profit if the market moves up, down or doesn't move at all.
✅ Consistent Cash Flow
✅ High Probability of Profit
✅ No Overnight Risk
$80 Premium Received (per contract)
86% Probability of Profit (at entry)
10:15 AM Time of Entry
This is a counter trend trade, wrote below the demand zone of 4465-4445, there sits the 50 DMA, 20 DMA, 50 WMA, and the 4450 negative gamma strike.
VIX 24.6, Implied move of 1.54%, any relief rally should see some crush in the VIX which will greatly help out my position.
Oversold on the 1H and 15M, however, oversold can get more oversold.
My expectation is for a small relief rally into the PM before the release of the Fed minutes.
WHAT IS 0DTE TRADING?
0dte or zero days to expiration refer to the last trading day for an option contract. The Chicago Board Options Exchange ( Cboe ) lists weekly options on the S&P 500 Index (SPX) with expirations every Monday, Wednesday, and Friday. Since most options expire worthless we take advantage of this by selling credit spreads to collect premium. Our option trading strategy allows us to profit if the market moves up, down or doesn't move at all.
✅ Consistent Cash Flow
✅ High Probability of Profit
✅ No Overnight Risk
Note
Out 30
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