Any stock, index, or ETF will have a 0DTE option at least once per month since all options eventually expire and become 0DTE options on their final trading day, whether a weekly, monthly, or quarterly contract.
What tickers have 0DTE options?
Currently, five ticker symbols list daily options every day of the week:
- SPDR S&P 500 ETF Trust (SPY)
- Invesco QQQ Trust (QQQ)
- S&P 500 Index (SPX)
- S&P 500 Mini-SPX Index (XSP)
- Nasdaq 100 Index (NDX)
The key difference with the tickers above is that they explicitly offer daily options Monday through Friday.
βFor example, SPY offers daily, weekly, and monthly options for the near future:
Whatβs the best symbol for 0DTE?
Each symbol offers specific benefits for traders depending on their objective. Index options are European-style with cash settlement and favorable 60/40 tax treatment. Index options tend to be more expensive than equity options since they track the index, not a stock whose values are typically lower. Plus, index options have $5 minimum spreads and generally less liquidity than their ETF counterpart (SPY and QQQ).
βEquity and ETF options are American-style with physical settlement, meaning the option writer must accept underlying shares if the option contract is assigned. SPY and QQQ trade at much lower values than SPX and NDX, respectively, which makes the options less expensive and offers smaller spread widths.
