500 Days of SPX 0 dte Iron Condor Trades

The Canadian Options Trader (aka DrZaius aka Stefan) shows his actual results after 533 days of trading 0 dte (Zero Days to Expiration) SPX Iron Condors (selling premium).

[CanadianOptionsTrader]

Correction: It turns out that Kyle's BYOB BackTester really is 1 minute data. I've been informed that it always was and still is 1 minute data. The 15-minute label can be confusing, but it refers to something different (actually it's the possible entry times you can select for the simulated backtest).

[williamklein]

I trade 0 dte spreads. Loads of success for me over the past 18 months. I trade 3 contracts @ 20 delta with a 10$ wing.( comes out to @ $ 1.70 x 3 per trade) I determine direction in the first 15 min and 60 % of trades are complete within 1/2 hour. I only trade 0 dte once a day. My biggest issue is getting filled where I want. I take profits 50% and take losses at 2x wins. Glad your system is working for you. Good trading.

[AverageDipBuyerX]

You’re making ~1% a day. That is absolutely insane. Great strategy, thanks for sharing it.

[mistletoe]

I am another 0DTE IC trader on SPX, and I am Canadian as well. Subscribed

[NoizeeBunkarz]

Would use 10 contracts, 5 wide, 5 delta, for a credit of $0.25 per side. Would time entry after 10am based on Bollinger bands; if SPX breaks on the low side, enter the put spread (and vice versa). Would enter a conditional OCO to get out at $.05, or if the underlying reaches the short strike of the spread. As long as there is no ultra fast moving markets (the day qovid hit American shores for instance), liquidity has been ok. No volatility days nets $140-180 on single trade/side.

[garysterling]

Very nice to see the historical data. Great job! Thanks for your efforts.👍

[deevog]

Simple Rule for ODTE
Open SPX Vertical Credit Spread, For a minimum credit of .65
If are unable to enter the trade at the minimum credit desired before 10:30 am EST, cancel the order and there will be no trade for the day. For exit wait and let the power of time decay work in our favor, if risky day better to avoid or take your loss at 3x of credit.

[cancanturco]

Can you tell me, please, what set up do I need, in order to trade 0 DTE SPX? I'm in Canada too with IBKRs . I want to start trading SPX and I already moved from Cash Acc. to Margin Account! Help please

[timmyjan]

What time of the day do you close your trade, I heard from IBKR you can close trades on the last day 150 mins before market close

[braddeicide]

Tightening, rolling, is closing early, and opening a few trade.

[MoneyVikings]

Awesome video and spreadsheet. Thanks for sharing!

I’ve been experimenting with SPX 0 DTE iron condors as well, but closed to 16 delta and 5$ wide. What stops would you recommend for this type of strategy? Still 3x each short option credit?

[ampiciline]

hello coach, as far as selecting your strike values ( call and put ), do use ONLY Delta values or you also study the chart of SPX and looking for support and resistance line or targets ?

[MoneyVikings]

Thanks for sharing this! Great stuff. US TastyTrader here 🍒

[fuzzyboomboom]

Trading an IC at the open, but where are you placing your short strikes? i.e., @ what delta?

You can increase your odds by trading into strength, waiting to see if there may be a good move either way in the first 60-90 minutes. Also increasing trade size but running down to 5 delta for the short strike entry.

[zaklloyd]

This is great. Unfortunately I cannot trade US stocks so am dabbling with BTC and ETH.
Despite being fairly new to all this, I have been doing something similar but with short strangles opposed to Condors and during the Asian session when volatility is slacking off after NY session.
I would be really interested to know if you've compared these results to those of just naked shorts either side without the wings and what the results would have been.
Keep up the great work. Learning a huge amount from you and the guys at Tasty!

[Michael-bsbg]

I assume you have the bulk of your investments in stocks and bonds like everybody else. Can you please elaborate on the all important question if and how your options writing strategies improve your overall portfolio risk and return characteristics? For example, to what degree are your returns uncorrelated to the stock market? How does your 0DTE strategy relate and compare to your "regular" Tastytrade strategy; are they correlated? Thanks

[joyouschoy]

Do you have any profit taking percentage for trading iron condor? Do you have any video to set taking profit for iron condor?

[mohammadmozaffari]

Any update on when Tastytrade is coming to Canada? Or do you have any estimate?

[ironbonesunlimited]

I recommend selling 1 dte, since the overnight theta burn is what helps it be more profitable

[andythyssen]

Thanks for the explanation and the spreadsheet to back it all up. I'm curious about the Additional Credit you list on days where you stopped out. I don't understand where that comes from. Thanks for the help.