0 or 1 DTE trades?

[tom]

I'm considering doing some ultra short term trades like 0 or 1 DTE. I've been day trading with options too so that is a possibility too. Please let me know what you'd like to see via this poll.

(I had a similar poll earlier but put it in the wrong place and when I deleted the original, it deleted both of them... grrr)

 

[Glenn]

I'm considering doing some ultra short term trades like 0 or 1 DTE. I've been day trading with options too so that is a possibility too. Please let me know what you'd like to see via this poll.

(I had a similar poll earlier but put it in the wrong place and when I deleted the original, it deleted both of them... grrr)

I always like learning about such trades, but, personally, I'm trying to simplify my trading rather than making it more complicated and more time consuming...

 

[SergB]

I would be interested , but I am looking for trades that does not require constant attention.
For example I am trading 0DTE Iron condors, and I am able to construct TOS orders like:
Entry:

SELL -1 IRON CONDOR SPX 100 (Weeklys) 20 Sep 22 3895/3930/3815/3765 CALL/PUT @2.1 LMT

Exit Call (for profit or stop-loss):

BUY +1 SPX 100 (Weeklys) 20 Sep 22 3895 CALL @5.3 STPLMT 4.9 MARK OCO

BUY +1 SPX 100 (Weeklys) 20 Sep 22 3895 CALL STP 5.7 MARK OCO

BUY +1 SPX 100 (Weeklys) 20 Sep 22 3895 CALL 0.1 OCO

Exit put:

BUY +1 SPX 100 (Weeklys) 20 Sep 22 3815 PUT @4.95 STPLMT 4.55 MARK OCO

BUY +1 SPX 100 (Weeklys) 20 Sep 22 3815 PUT STP 5.35 MARK OCO

BUY +1 SPX 100 (Weeklys) 20 Sep 22 3815 PUT 0.1 OCO

I place orders around 9:35-9:45am (Eastern Time)
and that's all what is required for the day.

 

[status1]

Is that going to require 25K for pattern day trader status?

I think 1 DTE might be better to avoid that and place the trade just before the close The only problem with that might be the gap openings

 

[status1]

Looking at the put chart looks like the short put would have been filled around 1:30-2:00 PM making the trade a loss on the other hand not placing a closing order it would have worked out

 

[SergB]

Looking at the put chart looks like the short put would have been filled around 1:30-2:00 PM making the trade a loss on the other hand not placing a closing order it would have worked out

That was not my original trade for today. my trade at 9:40am was

SOLD -1 IRON CONDOR SPX 100 (Weeklys) 20 SEP 22 3925/3970/3790/3745 CALL/PUT @2.05 CBOE

Put 3790 never exceed 1.5 today

 

[SergB]

OptionsOmega https://optionomega.com/ offers good capabilities for backtesting. Here is backtest for 0DTE IC (it mentions all input parameters)

 

[status1]

It did touch it a few times but maybe it was too quick to get filled Still looks risky to me