Zero-days-to-expiration (0DTE) options open and close within a single session. Trades happen fast, there are often several a day, and small habits compound quickly. That makes tracking more important, not less.
What makes 0DTE different to track
- Time is the main variable. The same setup can behave very differently at 9:45 and at 2:30, because time value decays fastest late in the day.
- Trade count adds up. Three or four trades a day becomes dozens a week, so it’s easy to lose sight of which ones actually paid.
- Exits are the trade. Many 0DTE results are decided by when you close, not when you open.
- Settlement matters. Index options like SPX and XSP are cash-settled, while ETF options like SPY and QQQ can be assigned shares. Know which you’re trading.
What to log for each trade
- Entry and exit time, to the minute
- Strategy and strikes (for example, a 5-point put credit spread or an iron butterfly)
- Credit or debit, and the maximum risk
- Where the underlying was relative to your strikes at entry
- How it ended: closed early, stopped out, or expired
- Its order in your day: first trade, second, third or later
- A tag for your state of mind, like “followed plan,” “FOMO,” or “revenge”
Patterns worth reviewing
| Question | How to check it |
|---|---|
| Is my first hour helping or hurting? | Compare average P&L for trades opened before and after 10:30 |
| Do I trade worse after a loss? | Look at trades opened within an hour of a losing trade |
| Do extra trades pay? | Compare your first trade of the day with your third and later |
| Are some weekdays weaker? | Group results by weekday, and note data-release days |
| Do my stops save me or cost me? | Compare stopped trades with what holding would have done |
Guardrails that are easy to measure
Because 0DTE is so repetitive, simple rules are easy to track and often make the biggest difference. Common ones traders set for themselves:
- A maximum number of trades per day
- No new trades before a certain time
- A cool-off period after a losing trade
- A maximum loss per trade or per day
Whatever you choose, write it down and check each trade against it. A rule you don’t measure tends to drift.
Quillstrike shows your results by hour, weekday, and order in the day, flags trades made right after a loss, and checks every new trade against the rules you set, starting from the day you add them.
Put your trades on the record
Import your broker CSV and see every multi-leg trade grouped, your patterns, and your key findings. Free during early access.
Start freeThis guide is for education only and isn’t investment advice. Options involve significant risk and aren’t suitable for every investor. Examples are hypothetical.