Day Trading 0DTE SPX Options

DAytrader732

New member
I'm interested in day trading SPX 0DTE and would love to hear your recommendations on the best indicators for this strategy. The SPX tends to show some consistency, so I'm looking for an indicator that works particularly well for day trading it. There are many studies available, such as volume and RSI, but I'm curious if there's an indicator that consolidates these studies and provides a clear signal on the strength of the presumed direction. Any suggestions?
 
Solution
you dont need 3rd party GEX, just look at your option chain and see which strike have the biggest volume and open interest, not the gamma ## ... same thing, just looks cleaner on 3rd party chart
I using GEX levels from 3rd party company, it's not indicator-style.

mod note:
please do not ask the poster about the 3rd party company.
such a discussion would be considered "advertising".
 
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I'm interested in day trading SPX 0DTE and would love to hear your recommendations on the best indicators for this strategy. The SPX tends to show some consistency, so I'm looking for an indicator that works particularly well for day trading it. There are many studies available, such as volume and RSI, but I'm curious if there's an indicator that consolidates these studies and provides a clear signal on the strength of the presumed direction. Any suggestions?
It is not the indicator that will make a sucessfull SPX trade at 0DTE, it is looking on the gamma option market. If the option moves agree with the market, then you could bet on the move and your trade will be sucessfull in my experienced.
 
you dont need 3rd party GEX, just look at your option chain and see which strike have the biggest volume and open interest, not the gamma ## ... same thing, just looks cleaner on 3rd party chart
 
Solution
See the option volume rule
 

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@rene6985, @darkpool, if I may ask, what rules do you use to trade based on strike volume? I've seen that high open interest not always matches highest
volume. Do you guys just go and buy the 0DTE strike with the biggest volume? Thanks!
 
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I'm interested in day trading SPX 0DTE and would love to hear your recommendations on the best indicators for this strategy. The SPX tends to show some consistency, so I'm looking for an indicator that works particularly well for day trading it. There are many studies available, such as volume and RSI, but I'm curious if there's an indicator that consolidates these studies and provides a clear signal on the strength of the presumed direction. Any suggestions?
I have found the chart I posted on my last AGAIG Tutor "Do You Pay Yourself a Salary every Friday" to work effectively for ODTE expirations including SPX? The Chart link is: http://tos.mx/!XFW9xBEv
 
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I noticed that on the SPX Dec 04, 2024 $6060 strike that you paid $1340 there was a draw down to $810 or down -39%. How do stay in the trade with such a huge drawdown on a 0DTE trade? Thanks
 
I have found the chart I posted on my last AGAIG Tutor "Do You Pay Yourself a Salary every Friday" to work effectively for ODTE expirations including SPX? The Chart link is: http://tos.mx/!XFW9xBEv
I'm not sure if you were sending back to me (Charles) and so I went back and looked. On the buy/sell posts I showed above if you minus the buys and add all the sells I think I made $$ all the way on those? I'm not sure what my thinking was at the time but I worked my way out of all losses?
 

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