Unless you have been hiding beneath a very large igneous rock, you know that a shocking percentage of options volume is based on compulsive gamblers (many of them relatively young traders) who are getting their ya-ya’s out by trading 0-DTE options. That is to say, they are gambling with options that have hours, or even just minutes, to live before they expire.

I am multi-dimensionally conservative, so I don’t usually pull that kind of crap, but I did yesterday afternoon, and it just proves to me once again I just don’t have the temperament.