The opening range is often used by 0DTE options traders looking to follow a stock's initial momentum during the first 15, 30, and 60 minutes of the trading day.
The Opening Range Breakout (ORB) strategy uses a breakout above or below the opening range high or low, triggering a trade to follow the day’s trend. ORB strategies  use a break of the opening range as a buy or sell signal in the direction of the breakout.
Many traders favor the opening range because it provides a day trading opportunity for quick results. The volatility during this time can offer an opportunity for fast-moving trades. Options traders look to catch a strong directional move based on the opening price action.
What is the Opening Range?
The opening range is the high and low price range that forms during the initial hour of the day. The opening range represents a short-term equilibrium between buyers and sellers, and it can be used as a framework to evalutate market sentiment. A break outside the opening range can signal continuation in the direction of the breakout.
For example, the 30-minute opening range in the image below is:
- High = 5,004
- Low = 4,995
- 30-minute opening range = 5,004 - 4,995
- Range width = 9 points.
Opening Range Example
In this example, the opening range high and low are set during the first 30 minutes. Many see the high and low of the opening range as temporary support and resistance levels. If the price breaks the high, it can indicate bullish momentum, while a break of the low suggests bearish pressure.

Calculating the opening range
Traders typically establish an opening range by comparing the high and low of the first 15, 30, or 60 minutes of the trading day.
Choosing a time frame can depend on the trader, instrument, backtest results, or other inputs. Scalpers might favor a 15-minute opening range to capture quick breakouts, while swing or intraday trend traders may prefer a 60-minute window to filter out noise and wait for more decisive moves. Regardless of the chosen time frame, the calculation remains the same: identify the session high and low during that period and monitor price action around those levels.
Many traders also look for a minimum spread width within the opening range to act as confirmation that a tradeable move is available and to filter out low volume and minimal price action in the early part of the trading day.
What is an opening range breakout (ORB)?
An Opening Range Breakout (ORB) occurs when the underlying price moves out of the opening range. A trading signal is generated when the underlying’s price breaks out of the high or low of the opening range and triggers an entry order.
In the above example, a price move above 5,004 or below 4,995 would trigger an opening range breakout.
How to trade the Opening Range Breakout
An ORB breakout strategy generally follows the direction of the breakout to determine a bullish or bearish bias for the trading session. A break of the opening range high triggers a bullish position, and a break of the opening range low triggers a bearish position.
In the image example above, the initial breakout above the opening range high at would trigger a bullish position.