I picked half a million pounds of pennies YTD by using the
**Papakong88 Strategy #2:**
This strategy was originally formulated in August 2023 to sell 25HTE (25 hours to expiration) NDX ICs. It was modified in March 2025 to sell 0DTE NDX ICs in the first hour of the trading day. The modification was necessary due to events that raise overnight risks.
The expected move (EM) of NDX is used to determine the short strike. The short strike OTM value is at least 3 times the EM. The delta of the short strike is therefore very low, usually less than 0.02. EM is assumed to be equal to the at-the-money straddle value.
The spread size is 100 points. The expected premium is 1.00 to 2.00. Currently, I am getting 1.00 to 1.30 for each 100 point spread IC. Therefore, I can double my money in less than 100 trading days and there are 252 trading days in a year. (One can use a smaller spread size.)
EDIT: Continued in [https://www.reddit.com/r/options/comments/1sbgx7w/comment/oeeg9ds/](https://www.reddit.com/r/options/comments/1sbgx7w/comment/oeeg9ds/)