SPX 0dte Income Trading - May 13’22 4960/3965 4070/4075 Iron Condor
Equities squeezed higher this morning, PPC, VIX and Most shorted stocks supportive for higher prices. Short covering should keep a bid under the market today and this grinding action may persist for most of the day with possible EOD melt up.
5M and 15M overbought, could see a pullback shortly, Bulls will defend 4000 today.
4050 next upside resistance
4000 strong support
WHAT IS 0DTE TRADING?
0dte or zero days to expiration refer to the last trading day for an option contract. The Chicago Board Options Exchange ( Cboe ) lists weekly options on the S&P 500 Index (SPX) with expirations every Monday, Wednesday, and Friday. Since most options expire worthless we take advantage of this by selling credit spreads to collect premium. Our option trading strategy allows us to profit if the market moves up, down or doesn't move at all.
✅ Weekly Cash Flow
✅ High Probability of Profit
✅ No Overnight Risk
Equities squeezed higher this morning, PPC, VIX and Most shorted stocks supportive for higher prices. Short covering should keep a bid under the market today and this grinding action may persist for most of the day with possible EOD melt up.
5M and 15M overbought, could see a pullback shortly, Bulls will defend 4000 today.
4050 next upside resistance
4000 strong support
WHAT IS 0DTE TRADING?
0dte or zero days to expiration refer to the last trading day for an option contract. The Chicago Board Options Exchange ( Cboe ) lists weekly options on the S&P 500 Index (SPX) with expirations every Monday, Wednesday, and Friday. Since most options expire worthless we take advantage of this by selling credit spreads to collect premium. Our option trading strategy allows us to profit if the market moves up, down or doesn't move at all.
✅ Weekly Cash Flow
✅ High Probability of Profit
✅ No Overnight Risk