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Really simple. You buy a put. You now have a long put. Your neighbor hears about your options prowess -- but doesn't have an options account -- and makes a deal to buy the put from you on the off-the-books side market. Your neighbor has now bought a long put and is now long a long put. And you...

Check out some of this guy's videos; he's an MD/PhD with a focus on carb addiction: https://www.youtube.com/c/DrCywesCarbAddictionDoc/search?query=break%20addiction

A call debit spread (short strike > long strike) is bullish and the price you pay for the spread is your debit. If you have a 5 point spread, and spot is, like, 3 points above your short strike, with no extrinsic left, and you get assigned, you are now short the underlying at the short strike...

Watch this, starting at the 4 minute mark:

That slide show was pretty interesting. In fact, it made me feel pretty good because, after restructuring my trade as an IC, my trade setup was pretty close to her trade setup. She set her stops different and her spread width was bigger, so I'll take a closer look at that, as well as a few other...

Thank you... for your time and for the advice. :)

Thank you. Appreciate it!

Okay, I need to finish this off in order to put the pieces together in my head. So I restructured the trade idea: Changed it from an undefined-risk short strangle to a defined-risk IC. Still used the same short strikes as the strangle, but added a long strike 25 points out from either side of...

Going to dig into the flies over the weekend. Thanks.

Sorry, didn't mean to embarrass you, and there is still time to delete my post if you want me to. But from what I've read from you in the past, I personally consider you an experienced options trader, and will continue to hold you in high regard.

Hey, OP... did you see that warning from @BlueWaterSailor? He is one of a number of options traders around here who really know their stuff. So if you intend to continue selling naked SPX 0DTE options, you might want to give his advice/warning some serious consideration.

Ah, okay. I figured I was missing something! Thanks for pointing that out. Appreciate it. :)

Okay, let me come at this from a different direction, but first my apology to the OP for butchering his thread! lol If you traded this short strangle, as described, above, you couldn't realistically use a typical, dollar-value stop-loss because this is a 0DTE trade and premium would be eroding...

Okay... it looks like that type of trade would be a huge gamble. You'd either win and keep all your premium, or you'd face the possibility of unlimited losses. I'm not even sure if a defined-risk strategy like an Iron Condor would be a good idea.

Since this thread addresses SPX 0DTE options, I'd like to jump in here with a few questions. As I recall, late last year we had a discussion on trading SPX 0DTE options. I think @MrMuppet suggested that, when trading from the long side, you want to look for a strike with the most gamma per unit...

You probably nailed it. Anyone who makes as big a fuss about options as he does, down deep inside, I think he really wants to learn. lol

Interesting analysis for this week. Not sure if he knows what he's talking about, but...

Around here, I was under the impression that OG meant Options God Anyway, that's the way I meant it! lol

Yep. One trade at a time. Don't look back. But don't look forward, either, or I'll start feeling like an OG and jinx myself! lol

I've been digging into theta decay/curve to gain a better understanding. It appears the chart that was posted on page 2 represents an ATM curve. The credit spread I paper traded was at a 30 delta, so it was OTM. Even though an OTM theta curve is still nonlinear, I don't think it's as pronounced...