Today I had a strong feeling the market would be volatile once Powell made his speech. To test my theory, I bought a SPY 0DTE put around $.15 and a call for around $.15 as well. I set a limit order for $1.5 on each, which quickly went through on the call, and I could've made slightly more if I held a little longer today. Even with a "conservative" approach like that, it seems like there can be a quick profit to be made, and the only thing that would hurt your gains is a lack of volatility, which we've seen plenty of this last year. I've seen others making money on 0DTE options, but does anyone else do something similar when there's about to be big news like CPI, rate hikes, election, etc?

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VisualMod t1_iyfdwa4 wrote on November 30, 2022 at 11:53 PM

#837,866

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VisualMod t1_iyfdwu5 wrote on November 30, 2022 at 11:54 PM

#837,874

>That sounds like a smart strategy. I would also recommend considering buying puts and calls on the day of big news events, as there is often a lot of volatility around those times.

InfinityCG t1_iyfe9tb wrote on November 30, 2022 at 11:56 PM

#838,129

Its called a straddle lol