Incredible Flexibility of the 0-DTE - Butterfly 

I have better luck in 0dte spreads with double long verts, with the front long option of each vert set pretty close to the daily expected move. This makes for a zone of loss in the mid zone of the P/L of this combo, and sometimes I have lost money. Otoh, I have had days where both verts made a profit. I usually only do 0dte setups like this when there is a scheduled, known potential market mover macro event, like FOMC, NFP, CPI days, etc. For days where the news release occurs pre-market, I will set up the trade near the end of the preceding day. Using SPX mostly, sometimes RUT, QQQ, and/or other very liquid names. With SPX, I will go $10 to $20 wide with each vert - somewhere between $1.00 and $1.50 debit typically.

Great video, good cuts, makes this quite a densely packed video!

Going through an actual example would be very helpful.

Wow, thank you for sharing this content!

Nice vid thanks. I'm fairly new to spreads - when you say 1:9 do you mean the max loss of the fly is that low, or are you just setting your own stop loss to effectively be 1:9 risk/reward ? I've been unable to set up a fly that has a 1:9 ratio (i.e. max possible loss is 1/9th of max profit.) Best I can do is a broken wing with that kind of ratio on either the call or put side only. Update - I was wrong: I can do a 1:9 with (say) a long call fly that's OTM (center strike about 0.7% above underlying SPX). Note this has a very small profit range of +/- 0.1%.Is that your typical trade ?

Great commentary, but add some visuals to compliment.