I’ve mainly been trading single stocks and have had some success by focusing on companies I know well; however, I want to get more familiar with SPX mainly since it has daily options and has cash settlement. I’ve been trying a few different things and something I am curious about is the last 10 seconds or so of the trading day. The options’ premiums don’t seem to go to 0 so I can still sell them until the very end. I was able to get an iron butterfly filled today with 10 seconds or so left in the trading day (pic attached). Do any of you have any knowledge about the mechanics of the day’s close and how to generate an edge in that environment? Right now I know I can use atm straddles to gauge the expected move, and I know from my personal experience that the price can have some large moves in the last 10 minutes. If I used the atm straddle price 1 minute out to guess the riskiness, prepared an iron butterfly with lower than anticipated premiums to get a quick fill, and waited until the last 3 seconds to do the trade then would I be on the verge of having some sort of edge?
Edit: This is only for 0dte spx options
