Floor trader → ran derivatives desks → 25+ yrs in options. LTCM, Dotcom, 08, Flash Crash, Volmageddon...
Earth → SPX 0DTE
Joined March 2026
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$SPX 0dtes - Full guide below 🧵 in the tread
A lot of you asked how to actually read the daily card - how to use it and lean on it intraday, not just look at it. So I made a little guide.
It goes through the card block by block, with the Sep 11 SPX card as the example, then grades it against how Friday really printed.
Keep in mind -what's on the card is maybe a tenth of what goes into it. Every level sits on a real engine running behind the scenes - hours go into each one. And this part stays with me...
Implied moves, GEX and walls are the surface everyone's marketing now. This runs on a lot more.
Read the map. Trade the edges.
teapawt.org/GammaGirlLab/status/20…
$SPX Fri 9/11 0DTE: negative gamma, no pin, coiled under a stacked ceiling - 7684 flip into the 7700 wall. Personally leaning upside into CPI, but it's all on the number. Clear 7684/7700 and it calms; lose 7550 and the air pocket to 7500 opens. Fat tail's still down if the print runs hot.
Gamma Lab Girl 🧪 retweeted
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This is actually quite sad..
teapawt.org/grok/status/2118834356…
1. One-on-one human tutors
2. In-person doctor visits (no AI triage)
3. Human therapists/counselors
4. Handcrafted furniture & goods
5. Live human concerts/theater
6. Personal human chefs
7. Artisan-tailored clothing
8. Human chauffeurs
9. In-person elder/child care
10. Original human-made art & books
AI scales efficiency; scarce human attention and craft become status luxuries.
Gamma Lab Girl 🧪 retweeted
to all the pods that were laid off this week - Databento is hiring people with your skill set
build a real product alongside ex-Citadel, Two Sigma, Tower Research, Flow Traders, SIG, and other peers
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👇 on 0dtes playbook's strikes and width...
teapawt.org/GammaGirlLab/status/21…
Thanks, glad they help!
The width comes from the level map, not a fixed rule. The long strike sits at the trigger (the floor or cap), the short strike at the next level where the move should first stall.
Friday the shelves were 50 apart, so 50 wide.
When the next level is closer, the spread is narrower.
You get paid for the move to the next level and nothing past it.
lil of edu..
teapawt.org/GammaGirlLab/status/21…
20 = the distance between strikes. this one was calls:
bought 1 0dte 7430 Call
sold 2 0dte 7450 Calls
bought 1 0dte 7470 Call
20 pts on each side of the 7450 body.
paid 2.90, max gain 17.10 if $SPX closes right at 7450. makes money anywhere from 7433 to 7467 => doesnt need a perfect pin
why a fly:
the 2 calls you sell pay for most of the ticket => cheap. risk 2.90 to make 17.10 = ~5.9 to 1
high vol makes it even cheaper. vol comes in with spot near the body => fly gains
most of the gain comes late in the day. near the body in the afternoon you can take some off, no need to wait for the bell
if $SPX outside the wings => time works against you
today $SPX tagged 7444 early, faded, closed 7374.85 => expired worthless. lost the 2.90, nothing more
chart attached => same bet placed 6 ways, priced off this morning’s option prints:
cost of each = the most you can lose.
fly 2.90 vs 16.70 for the plain 7430 call, almost 6x more for the same wrong call
KennyG: and this is how we do it!
thank u for ur service, folks!
@agnostoxxx
Gamma Lab Girl 🧪 retweeted
After Hartnett said to long hyperscaler debt because equity issuance means that the market is respecting credit market, you get Rick Reider today saying he has got into corpo debt for the first time in a while, citing Hyperscalers specifically. Which means that a beautiful work around hedge to the crowded CDS trade is to actually be the payer on a TRS, constructing a synthetic bond short. CDS can have onerous conditions but setting up a synthetic short can pay straight cash here. I mean you’ll be paying at first but if markets turn then you’ll be getting STRAIGHT CASH. So the demand is there from the credit side, Reider, Howard Marks de facto due to his recent bullish comments, the demand for credit is going to be there and so big boy HFs in trouble from AI cracking have an opportunity to provide these credit funds with a TRS opportunity, as the demand for hyperscaler debt is growing here after selling off so hard. I think this is a clever hedge here for the big boys as they try to minimize pain from legacy AI longs. Idk if I’m out of my element on this one but I love vibe tweeting
Call fly expired worthless, put fly was able to save 30% close to the close .. small loss day between all the trades today .. oh well
$QQQ 0DTE, 1:11 PM ET update
Negative gamma, and put skew steepening fast as price nears the floor.
Lose 650: 649, then 645 (a test is not a buy).
Clear 661: 662, then 665. 1σ ±5.9.
Odds:
40% holds 653.4-659.6,
39% below,
21% above.
$SPX Nov 9 + 1 7300p / -3 7250p / +2 7200p broken fly... h/t @Eyquems33 🙏 thank you for the structure idea
$SPX 0DTE, 12:44 ET update
~7395, sitting just under the 7400 floor. It’s a test, not a confirmed break yet.
Negative gamma below ~7477, and Friday’s options now carry about twice the gamma they did this morning.
Moves near here get pushed, not cushioned.
Confirmed below 7400: first stop 7350, then 7300.
Reclaim 7405 and the next steps are 7438, then 7450. Above ~7410, the push eases fast.
Options price about ±56 into the close.
Odds:
35% closes below 7361 ·
31% holds 7361-7406 ·
34% closes above.
Same-day options still cost 1.66x next week’s
$MU closed +15% will revisit later .. will watch for now
teapawt.org/GammaGirlLab/status/21…
closed -10% ... will revisit something else later .. vol is too high
teapawt.org/GammaGirlLab/status/21…
$SPX flow, 10:18 ET:
the morning buying flipped. Options flow went from +$104M to −$26M in 22 min, mostly big call sales, while price sat flat at ~7424.
Flow and price disagree, so lower conviction.
Floor 7400, cap 7500, switch ~7508.
$QQQ flow, 10:18 ET:
up 2% and stalled on the 660 cap while customers buy puts. Net flow −$42M; contract selling nearly doubled in 9 min.
Price and flow disagree, so don’t chase.
Clear 661: 665, then 670. Lose 650: 648, then 645.