Extreme Vol Lows: SPX 7790 0DTE straddle is $22.7/29bps (!!!) The last time it was this low: Xmas Eve when Captain Condor was merc'd The average daily move in the SPX over time is 68bps. If there is any risk to this market today, its this pricing of literally no movement...

$QDTE was the first ETF to sell 0DTE call options on an innovation index, generating income each morning while holding synthetic long exposure to the Innovation-100 Index. Here are some stats you should know: Expense Ratio: 0.97% Assets Under Management: $969.9M Launched: March 7, 2024 Listed on: Cboe BZX Distribution Frequency: Weekly Distribution Rate: 24.02% Latest Distribution: $0.136996 Actively Managed: Yes Holdings: Deep in-the-money NDX call options (synthetic long exposure) ~91% Roundhill Weekly T-Bill ETF $WEEK 4.95% 1 Year Return: +32.22% Return since launch: +23.52% annualized

Retail risk appetite is at record levels: 0DTE options contracts now account for a record 48% of total retail options volume. This percentage has more than TRIPLED over the last 5 years. Furthermore, 0DTE options reflected a record 30% of total US options volume in May. By comparison, the 2022 high was ~18% while the average over the last 5 years is ~21%. As a result, the average options contract now expires in under 3 days. Retail demand for short-term options has never been higher.

Perpetual Futures vs. 0DTE Options: The most important distinction is structural. 💠 Perpetuals are linear instruments: a 1% move in the underlying produces a 1% move in the position (times leverage). 💠 Options are convex: as they move further in-the-money, their sensitivity to the price of the underlying asset increases, amplifying gains at an accelerating rate. Cboe’s Market Intelligence team analyzes these differences in a recent research paper, titled Crossed Wires: Separating Perception from Reality. ➡️ Download the paper to read the research:

Hey Goat @michaeljburry I lost my entire life savings buying 0DTE $LULU calls on earnings because you said its a GREAT AI hedge and AI was a house of cards about to collapse. I'm hoping my $ADBE position that is also down 80% will come back and save me, Do you do refunds? My wife is furious