He said he's averaging 15k/month which means 180k/year,,not 60k.Which is remarkable if true. Daytrading 0DTE of SPX sounds labor intensive AF though.
It's not remarkable unless we know RW...that Reddit thread had guys pulling 180k pnl AMZN call spreads using millions so it turned out to be less that 10% return per trade. At 15k per month, with 100k capital he could return better results just investing in high yield ETFs and not have to deal with "labor intensive af" Here is some raw data on zero DTE..some strategies actually perform pretty well...I'm assuming selling premium more than buying it. Why iron butterflies and iron condors? Given that most 0DTE traders are net options sellers (87% of positions were opened for a net credit), traders chose iron condors, iron butterflies, and credit spreads most often. Figure 2 shows the average premium received per contract by trade type. (E.g., if a trader opened five iron butterflies for $1,000 of premium, the premium per contract is $200). https://optionalpha.com/blog/0dte
Yes but you originally threw out the number 50k,which he used to generate 180k in profits. That's a 260% return. Which is remarkable. No ETF dividends are going to produce that kind of return.
Well I'd take 120% return in dividends without the risk versus 180k flogging myself every day trading....but I may revisit the 0dte arena for a side gig.
Good Morning Jdesey, I am not being negative, but try to set bigger trading finical goals for your day trading so you can retire quickly. However, if you are happy with your current success and you want to stay with that, that is fine as well.
Hello themickey, That is now how I see trading. We are all different. It is a get rich quick hustle for me. I will not be doing day trading my entire life that is for certain.
I've been in this game decades, I love it because it's a mystery, a challenge, difficult, has lots of psychological lessons attached, makes money, fun, I immensely enjoy writing algos math problems. Because my Asian wife is clever, good at it and enjoys it, is a double bonus for our marriage, we are frequently discussing it. It keeps us both occupied. Other than trading my only other interests are bike/beach and I design some fishing shit in my one man men shed. There's no spare room in the double car garage, full of tools and equipment as I'm a tradie from way back.