What is 0dte options?

0DTE refers to Zero Days to Expiration: the last day of expiration of an options contract. Selling and buying options at zero days to expiration offers uniquely attractive trading opportunities. Most Stocks, ETFs, indexes, and futures contracts are optionable (have options), and all options contracts have an expiration.

How many spy positions are there in option Alpha 0dte trading?

There were 11,204 SPY positions (~22,000 trades), making up 88% of the total 0DTE trading volume in Option Alpha’s automated trading platform . Traders used 50 additional tickers in their 0DTE trades, primarily with Friday expirations. SPY was the only ticker with more than 1,000 positions during the period studied.

Do 0dte SPX options expire every day?

In 2016, the exchange listed SPX weeklies that expire on Wednesdays. By 2022, Cboe had introduced weekly options with expirations on every trading day of the week. Now, qualified option traders can trade 0DTE SPX options (and options on a handful of ETFs that track the major indexes) every market day. What's powered their growth?