I do not trade 0dte often, but really, look at the price-path. Dot line =strike 608. For a gain 70% he really had to buy straight at open, and close at the highest point. Don’t you agree?
I think you are wrong here. They are all verified and trustworthy million*-traders please be honest *if not billion** ** if not zillion all things equal, such a run is certainly possible, if one had the luck and quits timely
r/WSB is pure comedy Gold. I don't even watch TV anymore, the LOLs on r/WSB are amazing especially during the NASDAQ collapse in 2022.
No, I don't. First, he is not up 55 times for nothing, so I expect him to be able to time turns, to catch tops/bottoms. Second, out of money SPY options double if the market moves 2 points fast enough, like that day. If he bought right after the open, SPY was below 608 so when it reached 610 he was up more than 100%. He either sold when it was falling back, or there was another chance at 12 30, SPY up again 609.7. Point is, he didn't need to catch the exact top and he had 2 chances to sell at 70% gain. Edit: Right after the open he bought the calls for 1.21 For a good 15-20 minutes at the top it was between 2-2.3, so plenty of time to sell for 2.05 what is 70%. Price went just over 2 again at 12:32, for a second chance. (He most likely sold at the first top.) If you click on his handle (Special_Afternoon_85) he answers questions.
IB keeps sending me promotional emails about trading 0dte's. I think it's going to lead to a nice market implosion eventually (i think JP Morgan already warned about this last year or the year before) - especially now that the "golden age" of zero oversight and accountability are here.
Brokers want day traders because they generate commissions. On average, a day trader generates about 50 dollars in commissions per day. So brokers want you to gamble your money away. It doesn't mean that 0DTE options are going to implode. It would be better for them if they didn't.
thanks for clarifying. For a second I thought IB was emailing me because they wanted to lose money. I'm just saying people piling onto 0dtes will end badly for the market. Brokers can't always predict everything, look at IB and the GME fiasco in 2021.