Is a 0dte spy itm call worth it tomorrow

The 0DTE SPY ITM call options are not recommended for tomorrow's trading session. Here's why:

1. Intrinsic Value and Extrinsic Value: The intrinsic value of an ITM call option is the difference between the strike price and the underlying asset's price. If the underlying asset's price is significantly above the strike price, the intrinsic value will be high, and the option will be more likely to be exercised. However, if the underlying asset's price is close to or below the strike price, the intrinsic value will be low, and the option may not be exercised, making the extrinsic value (time value) more prominent.
2. Zero Days to Expiration (0DTE): 0DTE options are unique in that they only exist for a single trading session and expire on the same day they are traded. This means that the time value of the option is significantly reduced, as there is no time left for the option to increase in value based on the passage of time.
3. Market Volatility and Predictability: The 0DTE options are highly sensitive to changes in the underlying asset's price and implied volatility. If the market is expected to be stable or trending downward, the likelihood of the option increasing in value before expiration is reduced.
4. Expertise and Risk Tolerance: 0DTE options are considered high-risk, high-reward investments. They require a high level of expertise and risk tolerance, as their value can change rapidly and significantly. If you are not experienced in options trading or are not comfortable with high-risk investments, 0DTE options may not be suitable for you.

Given these points, it is not advisable to invest in 0DTE SPY ITM calls for tomorrow's trading session. The lack of time for the option to increase in value, combined with the high risk associated with 0DTE options, makes them a speculative investment that should be approached with caution.