You know SPX zero DTE. But did you know Tesla Meta Nvidia and Apple also have zero DTE options listed by CBOE on Monday Wednesday Thursday and Friday? Tom Preston tests all four live and the results are more interesting than you would expect.
Tesla iron condor: 60 cents credit, decent risk reward, Tom has traded it before. Meta iron condor: 68 cents credit at $600 stock price, acceptable metric. Nvidia: 11 cents credit for $489 of risk. Pass. Apple: not enough premium in the options at $296. Pass. The rule is simple. Check the credit versus the risk before anything else. Higher stock price means more credit. SPX generates the most because it is a $7,600 index. Individual stocks are riskier but if the numbers work they are worth considering.
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