0DTE options craze

SunTrader said:
John Carter gets into recently here (about 4 minutes in):-

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So basically options is a rigged game. Option prices are manipulated "just so" to screw over retail. It is an automated, algorithmic game of shells. How is this legal? I mean look at the shit storm when gamestop retail turned the tables on the hedge funds for doing exactly what they do every day. This is why I'm moving to binary options.

Update. Actually I just joined pocket options because I can actually trade from Canada, unfortunately can't with IKBR. From what I can tell I can just choose if I think the price will be higher or lower in the next x minutes/hours/days. This is BRILLIANT! I will have to start its own thread but I love the platform...so intuitive. Regulated trading/brokers can piss off. ;)

Update: You can even set limit orders to enter at a certain price or time. Nice.

This has got to be the future...no bs with greeks,IV, delta etc. No commission. No fees. No spread BS. No Market makers. This is pure trading.

 
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destriero said:
ATM digitals are worth 50/100. Scams like this price ATM digitals as high as 60/100. And if you have to cover you'll get taken on the edge loss on the closing order.
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I have no idea. I'm going to try it with $100 and see how it goes.
 
SunTrader said:
... you are saying, can't help myself a gun is pointed at my head.
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I'm saying its rigged. I realize money can be made on IV spikes and that's great, but I'm going to give binary options a try to get away from all the bs. Compared to the idea of binary options with no fees, spreads, commissions regular options are antiquated. I mean I'll still do weekly verticals because why not, but definitely looking more at binary for a pure form of trading without all the noise.
 
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wxytrader said:
I'm saying its rigged. I realize money can be made on IV spikes and that's great, but I'm going to give binary options a try to get away from all the bs. Compared to the idea of binary options with no fees, spreads, commissions regular options are antiquated. I mean I'll still do weekly verticals because why not, but definitely looking more at binary for a pure form of trading without all the noise.
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With binary options, all I have to do is say that a certain stock will be above a certain price at a certain time. That's it.

Compare that to buying a call, where an expiry dates are chosen for me, a premium must be paid, a spread is forced on me, I have to pay huge commissions...AND even if I was right about the price I will likely still lose money on it because of all the above.
 
wxytrader said:
With binary options, all I have to do is say that a certain stock will be above a certain price at a certain time. That's it.

Compare that to buying a call, where an expiry dates are chosen for me, a premium must be paid, a spread is forced on me, I have to pay huge commissions...AND even if I was right about the price I will likely still lose money on it because of all the above.
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Does your platform allow straddle binary? ex: NVDIA above/below 435. What would the payout look like?
 
hilmy83 said:
Does your platform allow straddle binary? ex: NVDIA above/below 435. What would the payout look like?
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I don't think so they are pretty limited when it comes to strategies...just vertical spreads...maybe straddles/strangles. How would that trade play out? I know on a staddle you pay fees on both legs so price really has to move to over come that.
 
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