After 9,000 Trades, This Is Still My Most Profitable 0DTE Strategy

Summary

Hey there! Today we’re exploring the "0DTE Break-Even Iron Condor," a high-frequency trading strategy on the S&P 500 that veteran trader John has used to stay consistently profitable for over five years. The core logic involves setting separate stop-losses for the call and put sides equal to the total premium collected, ensuring that if the market moves against one side, you generally walk away at break-even. To manage risk, John enters these trades roughly once per hour and strictly limits his total daily exposure to just 1–2% of his account. While the win rate is only about 40%, the strategy’s positive expectancy means the profits from successful trades far outweigh the occasional double stop-loss. Ultimately, this approach is a "bread and butter" income strategy that rewards disciplined traders who are willing to closely monitor their risk throughout the day.