Day Traders Lose $358,000 Per Day Gambling on Zero-Day Options

My point is

If those ODTE traders are losing $358K/day,

then someone else in this world is earning ~$358K/day.

 

My point was, it ain't retail earning $358K per day, its the Citadels and Virtus of the world with ultra fast alogos and co located computers.

 

not necessarily. Is options trading a zero-sum game? If Joe sells a put for Peter to hedge his long-only portfolio and it goes itm, does Peter “make” the X that Joe loses?

 

These are daily options we are talking about, not much hedging going on here..