SPY 0DTE Long Straddle, Morning Drive

A limited-risk, long-volatility day trade for active opens. At 09:40 ET, only if SPY's first 10 minutes (09:30-09:40) ranged more than 0.25% of their opening price, buy one at-the-money SPY call and one at-the-money SPY put on the same-day expiry. Exit the pair together at +30% on the premium paid (target), -25% (stop), or at 12:00 ET. One trade a day. The most one trade can lose is the premium paid (the straddle usually cost about $280-$620, median about $420, and up to about $1,500 on the most volatile opens). Times are US Eastern (Time(XCBO) clock). Capital per multiplier: $1,600, the cash to buy the straddle at the highest premium seen in the window; long options need no margin beyond the premium.

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