0DTE
TradingDefinition
Zero-Days-To-Expiration options. Contracts expiring on the same day they're traded. Originally limited to weekly/monthly expirations; SPX now has Mon-Fri expirations enabling 0DTE every weekday.
Now ~50%+ of SPX options volume is 0DTE. Implications debated: doesn't seem to systematically destabilize markets, but creates intra-day gamma cliffs and can amplify intra-day moves.
Now ~50%+ of SPX options volume is 0DTE. Implications debated: doesn't seem to systematically destabilize markets, but creates intra-day gamma cliffs and can amplify intra-day moves.