Am I up for playing with fire today?

You’re playing with fire in 0DTE, whatever you do. So I’ve got a few questions before I touch it.

The first one is just: am I up for playing with fire today? Some days I’m not, and that’s fine.

Then, is the data somewhat supporting it? If local dealer gamma’s above positive $10 billion, I’m more inclined. If it’s not, I might still do it because I fancy it, but I know it’s more risky going in. It’s the same number I wrote about the other day, the one that can look like nothing at the open and be big by lunchtime, so I tend to check it more than once.

And then, do I have the time to manage this, or am I going to have to step out for 2 hours?

I think that last one gets underrated. The positioning can tell you one thing, and then a headline blows it out of the water. If I’m not at my desk when that happens, the data I looked at in the morning doesn’t help me much.

So I don’t always trade it every day. Being more selective has helped my stress levels!

If you’ve got a day job, that third question probably matters more for you than it does for me. A lot of the people I talk to can’t watch a screen all afternoon, and 0DTE isn’t very forgiving of that.

In my framework I account for spending time on matching the trade to the time you’ve actually got, and on why sometimes the right call is not to put anything on at all. That’s part of the risk step in my process, and it’s one that gets skipped a lot.

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