Recently, Leto Bao has been quite active on X, continuously sharing a lot of methodologies for trading U.S. stocks. In particular, when responding to user questions, he mentioned his trading experience with U.S. stock end-of-day options (0DTE), which sparked further discussion in the market about this kind of derivative trading style.

According to his sharing, in his early days he mainly traded 0DTE options on U.S. stocks, with trading opportunities mostly concentrated in event-driven windows such as earnings reports. The approach roughly involved buying option contracts that were close to expiration. By taking advantage of the relatively lower premium cost of these contracts and their heightened sensitivity to short-term price fluctuations, he conducted high-elasticity trades at points where directional judgment was relatively clear. Through rapid adjustments and rolling positions, he accumulated solid overall returns.
This experience was later further organized and circulated, and it has also become a fairly typical example in market discussions of 0DTE option strategies.
0DTE Options and the Retailization of Complex Derivatives
Focusing on 0DTE options themselves, as an options product that expires the same day, it has an extremely short trading cycle, sharp price volatility, and very fast result feedback. For ordinary retail investors, the biggest attraction of this kind of product is that, with a relatively well-defined cost, it allows them to express their view on the direction of an asset’s price within a very short time window.
In fact, for a long time, options have generally been regarded as tools for professional traders. Using