SPY 0DTE Short Straddle, 30% Leg Stops

A same-day premium-selling trade on SPY. At 10:45 on Tradetron's US clock, sell one at-the-money SPY call and one at-the-money SPY put on the same-day (0DTE) expiry. Each leg has its own stop: if a leg trades 30% above the price it was sold at, only that leg is bought back and the other keeps running. Whatever is still open is closed at 15:45. One trade a day, no re-entry. Undefined risk (naked short options): capital is the Reg-T margin on a naked SPY straddle: 20% of SPY's price on the larger side plus both premiums, about $16,000 per multiplier with SPY near 775 (some brokers apply 15% to broad-based ETF options, which needs less). Times are US Eastern; the backtest uses Eastern wall-clock time all year. Tradetron's live US clock (Time XCBO) is a fixed UTC-4, so from November to March a live deployment acts one hour earlier in Eastern time.

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