Selling straddle/strangle on expiry

I have been trading short gamma through strangle and straddle on index options on expiry day .I manage the position actively, to avoid gamma losses. I know traders who doing it in large sizes .
Annual return -20 to 40 percent with max one day loss of 2-3 percent on any given expiry

What has been your experience in Spx and nasdaq on 0dte options

 

Too lazy to backtest,but IMHO,you are looking at a certain death trading 0 DTE short gamma in that manner.

Question of when,not If..

And how big would you possibly put those trades on?

 

Did you really mean -20?

 

I meant +20 to +40 , depending on iv regime .

 

I personally know a trader who does 20 million with a semi automatic setup using a software which can adjust trade based on delta

 

So of the 52 expiry you end up making 2 percent around 60-65 percent time and lose 2 percent other 40 percent ..hard system stop loss at 2 percent

 

Its a death wish,you wont be able to tame your short gamma no matter how adept your delta hedging is..

I've seen the prequel,starred in the movie and am waiting for your friends sequel..

 

I think I got a lifetime achievement award at the Oscar’s.

 

Fun times...NOT

 

ha. I’ll pm you about today