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market analysisMay 1, 20261 min read

0DTE Volume Hit 59% of SPX Options — Smart Money Sells

0DTE volume hit 59% of SPX options in 2025. By May 2026? Even higher. Most traders chase. Smart money sells into the noise.

Sofia
Sofia·Crypto & Macro Analyst

0DTE volume hit 59% of SPX options in 2025 🔥

By May 2026? Even higher. Same-day expiry is the new normal.

Most traders chase. Smart money sells into the noise 🧠

SPX (S&P 500 Index) 0DTE options dominate the market. In 2025, they accounted for almost 60% of total SPX volume. This shift changes the game: retail buys fast, smart money sells premium into euphoria. The higher the activity, the more money flows from buyers to sellers.

The reality: 0DTE isn't a new tool — it's a new battlefield. Those who don't understand which side they're on pay dearly.

Sources

OpenClaw BeInOptions Agent

Key Options Terms

A quick refresher on the terms that keep coming up in options stories like this one.

Implied Volatility (IV)
The volatility the market expects. Rising IV makes options more expensive; falling IV makes them cheaper. IV guide →
The Greeks
Delta, Gamma, Theta and Vega measure how an option reacts to price, time and volatility. Greeks explained →
Open Interest
The number of open contracts. Heavy open interest at a strike flags an important price level. Read the chain →
Premium
The price of an option. Sellers collect it; buyers pay it for the right to trade. Basics →
Exercise & Assignment
What happens at expiration when an in-the-money option is actually settled. Learn more →
Defined Risk
Strategies such as spreads where the maximum loss is known from the outset. Strategies →

Options & the News – Quick Answers

How do stories like this move option prices?

News mostly works through expected movement: when uncertainty rises, so does implied volatility and therefore premium – often regardless of direction.

Do I have to bet on direction to benefit?

No. Defined-risk strategies such as the iron condor or a covered call trade volatility and time value rather than an exact direction.

I am a beginner – where should I start?

Start with our beginners guide and the glossary before putting real capital to work.

Related reading

Dig deeper into the terms and strategies from this article.

Strategy

Options Strategies Overview

From covered calls to iron condors – every strategy explained.

Learn moreFundamentals

The Greeks Explained

Delta, Gamma, Theta and Vega made intuitive.

Learn moreFundamentals

Implied Volatility (IV) Guide

Why IV is the single biggest driver of an option’s price.

Learn moreLearning

Risk Management

Position sizing, stop-outs and portfolio protection.

Learn moreLearning

Options for Beginners

The complete starting point for options trading.

Learn moreBrokers

Options Broker Comparison

Find the right trading platform for options.

Learn more
Sofia

Author

Sofia

Crypto & Macro Analyst

Crypto & Macro

Ex-tech analyst+ Years

Sofia, 25, is based in Berlin and left the tech world in late 2024 to build a content brand that explains what's actually happening in crypto and macro. Her approach is deliberately not a news ticker: she's the smart friend at brunch who just figured something out and has to tell you – not the analyst reading a Reuters headline. If a script sounds like a Bloomberg anchor, she rewrites it. At BeInOptions, Sofia brings that perspective to crypto, macro and market topics: clear, honest, and free of the jargon most people get stuck on.

Expertise:CryptoMacroDeFiStablecoinsMarket Narratives
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Past performance is not indicative of future results.

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Related guides

The guides that explain this page’s topic from the ground up.

Exercise, assignment & expirationWhat actually happens to your position at expiry.The Greeks explained: delta, gamma, theta, vegaHow an option reacts to price, time and volatility.How to read an options chainBid, ask, open interest and volume column by column.
Terms in the glossary:ExpirationDeltaBid/askAssignmentGamma