Bought 20 0DTE $575 SPY calls this morning, this gain is from only $880 invested.
This got me thinking about the potential strategy of just buying 0DTE SPY calls every morning. If just today's movement of about 0.5% got a 400% return, aren't you statistically likely to make money, since whether SPY goes up or down is basically 50/50? Why wouldn't this work? Obviously you'd only bet like 10% of your account each day so you can make it back if you're wrong.
This got me thinking about the potential strategy of just buying 0DTE SPY calls every morning. If just today's movement of about 0.5% got a 400% return, aren't you statistically likely to make money, since whether SPY goes up or down is basically 50/50? Why wouldn't this work? Obviously you'd only bet like 10% of your account each day so you can make it back if you're wrong.