SPX 0DTE Bear Call Spread on weakness

A same-day (0DTE) bear call credit spread on SPX, taken only when the morning is weak. At 10:30 ET it checks two things on the SPX index: the last 5-minute close is below the low of the 9:30-10:00 range, and it is below the day's open (price only, because SPX has no volume). If both are true it sells the call nearest 0.20 delta expiring today and buys the call 10 points higher (the long call is bought first, then the short is sold). It exits when the short call has lost 80% of its value, when the spread is worth twice the credit received, or at 15:45 ET. One trade a day at most. 1 contract per leg; defined risk of about $1,000 per spread; capital $1,000, the Reg-T margin for the 10-point spread (the credit received lowers it slightly). Times are US Eastern daylight time. Tradetron's US clock is a fixed UTC-4, so from November to mid-March the entry check uses a second window that still lands at 10:30 Eastern, while the time exit fires an hour early (14:45 Eastern); entries are skipped in the week of each spring and autumn clock change.

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