0DTE · New York time

Options lab

Build any combination of calls and puts, then test the same entry and exit clocks on each eligible session. Every leg keeps its own side, quantity and strike distance.

When and where

One 0DTE position per day

Underlying Year Entry, NY Exit, NY

This model uses a 16:15 cutoff for QQQ/SPY/IWM and 16:00 for stock options. At or after that time, exit is valued at intrinsic value using the underlying price; it is not an observed option sale. On a shortened session the actual trading close applies.

Important: a 17:25 intrinsic mark is not an expiration payout. OCC generally uses the regular-session underlying close for automatic exercise; after-hours exercise instructions, broker cutoffs, stock delivery and hedging are not simulated. OCC rules.

Position

Each leg is selected from the chain at entry

ATM level 0 is the nearest strike. OTM/ITM level 0 is the first strictly out/in-the-money strike; level 1 is the next strike, and so on. Quantities refer to contracts (100 shares each).

Session filters

Known by entry time

Earnings season window Move to entry (capped at regular-session close) At least, % At most, % (blank = no cap)

“Earnings” here means fixed quarterly calendar windows (Jan 15–end of February, Apr 15–May 31, Jul 15–Aug 31, Oct 15–Nov 30). It does not identify the report date of this company or an ETF holding.

Execution assumptions

Fee per contract/action, $ Maximum spread, % Minimum bid/ask size

Buy at ASK and sell at BID while the option trades. Missing or stale quotes produce an unknown day. A post-close intrinsic value is theoretical; no exit commission is charged because no option-closing trade occurred.

When and where

Position

Session filters

Execution assumptions

Results