How to Make Money in the SPX 0 DTE: Butterflies

In today's Trade Review video, I cover my end-of-day trade for the short covering rally that occurred in the SPX where I made $1165 in 18 minutes.

Identifying short-covering rallies by reading price action, market internals, and the options chain is how I love to place trades at the end of the day.

In this instance, I used a cheap butterfly in the SPX that cost me $195 per contract, and this gave me a closing price on the fly at $775. I did not close the trade myself, so it'll cash settle for slightly less. Since the SPX doesn't assign or exercise shares, it simply settles when it expires with the balance earned (or lost).

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