Resources mentioned in this video:

The Money Show: https://orlando.moneyshow.com/?scode=068013

Historical Gamma Indicator: https://alphacrunching.sensamarket.com

Alpha Crunching Trading Community, Research, Tools: https://www.alphacrunching.com

In this episode of the Stock Market Options Trading Podcast, I break down another 0DTE XSP trade that I was able to convert into a risk-free position—but this time, I spend more time on the market analysis behind the entries.

I’ll show how I used Historical Net Gamma Exposure (GEX) to identify an important SPX gamma level around 7,600, look for potential mean reversion, and time multiple credit spread entries. We’ll walk through how the trade evolved from an in-the-money call credit spread, into a reverse iron condor, and eventually into a position with multiple potential profit zones and no remaining downside risk beyond commissions.

We’ll also discuss why I’m experimenting with XSP for these trades, how gamma levels can change throughout the trading day, and why I view GEX as another indicator—not something that should be traded blindly.

In this episode: Trading 0DTE XSP before the regular market open Using Historical GEX to identify potential SPX levels Turning a profitable credit spread into a reverse iron condor Adding an iron butterfly around a major gamma level Creating wider profit zones instead of simply closing a winning trade Why gamma exposure is context—not a standalone trading signal Managing a volatile 0DTE trading day while reducing risk

I’ll also be speaking about SPX 0DTE options trading at the Traders Expo / Orlando MoneyShow, October 5–7. If you’re attending, I’d love to meet you in person. Options involve risk and are not suitable for all investors.

This content is for educational purposes only and is not financial advice.

In this week’s Stock Market Options Trading Podcast, I break down an XSP 0DTE trade I entered at the market open and how I was able to turn the position into a risk-free trade after the market moved in my favor.

We’ll walk through the trade structure, why I started with an in-the-money call credit spread, and how adding the opposing spread converted the position into an Iron Condor with no remaining downside risk.

I also take a first look at CBOE’s newer Magnificent 10 Index (MGTN), an equal-weighted index featuring the Magnificent 7 plus Broadcom, Palantir, and AMD. We’ll look at why cash-settled index options are interesting for traders, along with the biggest issue with MGTN right now: liquidity.

Plus, this week’s episode covers:

• The current SPX market setup and important gamma levels

• What I’m watching as the market trades below 7700

• This week’s major economic and employment reports

• Tuesday’s SPX Opening Range Breakout statistics

• The return of the X Files segment

The goal is always the same: use data, backtesting, and market statistics to find practical ways to trade the S&P 500 and index options.

📊 Learn more about Alpha Crunching and our SPX trading tools, research, trade setups, and community at AlphaCrunching.com.

New episodes of the Stock Market Options Trading Podcast are posted every Monday after the market close.

#SPX #0DTE #OptionsTrading #XSP #StockMarket #SP500 #IronCondor

📊 Trade These SPX Setups With Us

The strategies discussed in this episode are part of the Alpha Crunching Trade Setups, where we use backtesting and market data to build a portfolio of mechanical SPX strategies.

Members get access to:

• Weekly rules-based SPX Trade Setups
• Live trade alerts in the Alpha Crunching Discord
• SPX trading tools and market statistics
• Strategy discussion and live trading chat
• Automation options for select strategies

The goal is simple: data-driven SPX trading with repeatable rules and less time watching charts.

👉 Learn more and join at AlphaCrunching.com

What happens when you stop looking for the “best” SPX trading strategy and start thinking in terms of a portfolio of strategies?

In Episode 196, I break down four mechanical SPX strategies based purely on the math — without focusing on the actual strategy or setup.

We compare:

• Trade frequency
• Win rate
• Average winner
• Average loser
• Expectancy
• Risk/reward

The differences are significant. One strategy wins just 35% of the time, while others win more than 70%. But higher win rates come with their own trade-offs, including larger average losses.

The interesting part comes when we combine all four.

Instead of relying on one strategy that might go weeks without a trade or experience a losing streak, the different mathematical profiles can complement each other and produce a much smoother overall P&L curve.

The goal isn't necessarily to find the highest win rate or the perfect strategy. It's to build a collection of positive-expectancy trades that can work together over time.

Would you trade a strategy with only a 35% win rate if it improved the overall portfolio?

In this week's Stock Market Options Trading Podcast, we're looking at an interesting SPX pattern: Mondays have produced the strongest average S&P 500 returns so far in 2026.

Here's the video version: https://youtu.be/mM8y3koyL5A

That lines up with a rules-based strategy I've recently added back into the Alpha Crunching trade setups — a Friday 3DTE SPX put credit spread designed to take advantage of bullish market conditions heading into the weekend.

In this episode:

• The Friday 3DTE SPX put credit spread and its 4-year backtest
• Why a simple 3-day moving average filter matters
• The surprising strength of Mondays in 2026
• How the strategy fits into a diversified SPX options portfolio
• FOMC Minutes and this week's economic calendar
• Why markets are already looking ahead to Jackson Hole
• SPX gamma levels, including the 7900 call wall
• The employment data I'm watching this week

The goal isn't to predict where SPX goes next. It's to use data, backtesting and market statistics to identify potential edges and build repeatable trading strategies around them.

Alpha Crunching:

https://alphacrunching.com

Follow me on X:

@OptionAssassin

New episodes every Monday.

#SPX #OptionsTrading #SP500 #0DTE #OptionsStrategy #StockMarket #Trading

In Episode 194 of the Stock Market Options Trading Podcast, we take a data-driven look at the S&P 500, SPX options, gamma levels, opening range breakouts, and a mechanical 0DTE Iron Condor strategy.

We start with lumber prices after an 11-day losing streak and discuss what falling lumber prices may—or may not—be signaling about housing and the broader economy.

Then we turn to SPX and an important question for options traders: Do gamma levels lead the market, or does price lead gamma? We look at call walls, put walls, the gamma flip, and why I view gamma levels as useful context rather than a standalone prediction of where the S&P 500 is headed.

We also review some interesting SPX 0DTE Opening Range Breakout (ORB) data. Tuesday's 30-minute opening range has recently shown strong historical results following both upside and downside breakouts, creating some interesting possibilities for credit spreads and other intraday options strategies.

Finally, I share a mechanical 0DTE SPX Iron Condor strategy we've been trading and tracking at Alpha Crunching, including how the setup works and where you can review the backtest and strategy details.

📊 0DTE Iron Condor Strategy & Backtest:

https://www.alphacrunching.com/blog/end-of-day-iron-condor-a-simple-mechanical-strategy-for-spx-0dte

In this episode:

• Lumber prices and the economic outlook

• SPX near all-time highs

• SPX gamma levels, call walls and put walls

• Does gamma lead price or react to price?

• 0DTE Opening Range Breakout statistics

• Tuesday's 30-minute SPX ORB setup

• Mechanical 0DTE Iron Condor strategy

• Using historical data to improve options trading decisions

The Stock Market Options Trading Podcast is a weekly show focused on data-driven options trading, SPX strategies, backtesting, mechanical trading systems, and practical ideas designed to help traders become more consistent.

New episodes are posted Mondays around the market close.

Subscribe on YouTube or follow the podcast on Spotify and Apple Podcasts to catch each week's episode.

#SPX #OptionsTrading #0DTE #SPXOptions #Gamma #IronCondor #OpeningRangeBreakout #StockMarket #TradingStrategies

In this week's episode of the Stock Market Options Trading Podcast, Eric O'Rourke takes a data-driven look at the markets, reviews the latest SPX price action, discusses key economic events for the week, and shares insights from a high-probability options strategy currently being traded and tracked.

Whether you're an experienced options trader or looking to improve your trading process, this episode focuses on risk management, mechanical trading, backtesting, and consistency rather than predicting market direction.

• Why even billion-dollar hedge funds can fail from excessive leverage
• SPX market update following the latest geopolitical headlines
• Gamma levels, put walls, call walls, and what they may signal
• Key economic events this week:
• JOLTS Job Openings
• ADP Employment Report
• Weekly Jobless Claims
• Non-Farm Payrolls (NFP)
• Why oil prices remain an important inflation indicator
• A breakdown of a 14 DTE SPX Iron Butterfly strategy
• How to evaluate options strategies using:
• Win rate
• Average winner vs. average loser
• Expectancy
• Position sizing
• Why diversifying across multiple options strategies can reduce risk
• A fun look at common trading myths from the "X Files" segment

Instead of chasing predictions, focus on building a portfolio of strategies with positive expectancy. A single strategy will experience losing streaks, but combining multiple backtested approaches with proper risk management can help create more consistent long-term results.

• Alpha Crunching – SPX research, reports, trading strategies, and Discord community: https://alphacrunching.com
• Option Omega – Backtesting and options strategy development (use code SMOT for a discount)
• Follow Eric on X: @OptionAssassin

New episodes are released weekly covering:

• SPX market outlook
• Options trading education
• Mechanical trading strategies
• Backtesting concepts
• Risk management
• Trading psychology
• Data-driven market analysis

If you enjoyed this episode, please Like, Subscribe, and leave a review on your favorite podcast platform. It helps the channel reach more traders looking for a systematic approach to options trading.

#OptionsTrading #SPX #StockMarket #OptionSelling #IronButterfly #OptionOmega #TradingStrategies #RiskManagement #Backtesting #MechanicalTrading #0DTE #SwingTrading #MarketAnalysis #GammaLevels #OptionsEducation

This week on Stock Market Options Trading, Eric O'Rourke and Brian Terry break down the latest market action following geopolitical headlines, discuss why the recent SPX rally continues to stall, and share several option trading ideas they're watching this week.

Topics covered include:

• Why the latest SPX gap higher failed and what it says about market sentiment
• Current gamma levels and key support/resistance zones
• This week's major economic events, including the FOMC meeting, GDP, PCE, and Consumer Confidence
• Why intraday trend trading has become more challenging in recent weeks
• New research showing stronger end-of-day trading opportunities
• Eric's updated 0DTE trading approach and end-of-day Iron Condor strategy
• Brian's QQQ and Micron (MU) broken-wing put butterfly trades
• Managing defined-risk option strategies during volatile markets

Whether you're trading SPX, QQQ, or individual stocks, this episode explores how current market conditions are changing the way we approach options trading and risk management.

Resources Mentioned

► Alpha Crunching: https://alphacrunching.com

► Stock Market Options Trading Podcast: https://www.stockmarketoptionstrading.net

If you enjoy systematic options trading, backtesting, and weekly market analysis, be sure to subscribe for new episodes every week.

#SPX #OptionsTrading #StockMarket #0DTE #SPXOptions #Gamma #FOMC #IronCondor #QQQ #Micron #TradingPodcast

In this episode of the Stock Market Options Trading Podcast, Eric O'Rourke and Brian Terry discuss the current SPX market environment, why June was a difficult month for many options traders, and what they're watching as earnings season begins.

Topics include:

• SPX support and resistance using call wall and put wall analysis
• How gamma positioning may impact short-term market direction
• CPI, PPI, Federal Reserve commentary, and potential interest rate scenarios
• Why financial stocks could lead the next market move
• SpaceX (SPCX) options, covered calls, cash-secured puts, and long-term investing ideas
• Current 0DTE SPX credit spread trades and managing risk during volatile markets
• How to approach trading during headline-driven markets

Whether you trade SPX 0DTE options, swing trades, or longer-term option strategies, this episode shares practical insights on navigating today's market conditions.

📊 Learn more about Alpha Crunching's SPX research, backtested strategies, Discord community, and market reports:

https://alphacrunching.com

🎙️ Follow Brian Terry and Conservative Options Income Network:

https://stockmarketoptionstrading.net

#SPX #OptionsTrading #SPXOptions #0DTE #StockMarket #EarningsSeason #FederalReserve #CPI #Gamma #CreditSpreads #CoveredCalls #CashSecuredPuts #Investing #SwingTrading #SpaceX