How to mark SPX 0DTE levels before the open

The pre-market checklist

1. Prior day high, low and close. These are the first levels price reacts to.
2. Overnight high and low. Futures trade overnight, so mark where the overnight range sits against yesterday.
3. The gap. Note whether the open is gapping up or down and where the gap would fill.
4. Dealer levels. Mark the call wall, the put wall and the flip zone. See call wall vs put wall.
5. Expected move. The at-the-money straddle price gives a rough range the options market is pricing for the day.
6. The calendar. CPI, jobs, FOMC and big earnings can change the whole day. Know what is on the clock.

After the open

1. Let the opening range form. Many traders wait for the first 15 minutes before acting, because the first prints are the noisiest.
2. Watch VWAP. Holding above VWAP with higher lows reads as a trend day up. Holding below reads as a trend day down. Crossing back and forth reads as chop.
3. Line up the trend. A short average over a longer one on the 5 minute chart, with price over VWAP, is a simple trend check.
4. Match the strategy to the day. Trend days suit directional contracts. Chop and high IV suit defined-risk spreads or waiting.

Write the invalidation first

Before any entry, write the level that ends the idea. On a call idea that is often a loss of VWAP or the opening range low. On a put idea it is often a reclaim of VWAP or the opening range high. If the premium is not moving with the index, that is a warning too.

How the A&O desk does this

The desk marks these levels for SPX, SPY, QQQ, IWM and NDX each morning, adds the read from flow and dealer positioning, and checks each contract against your own premium range, timeline and max loss. You can also copy the levels into TradingView.

FAQ

What timeframe should I use for 0DTE levels?

Most traders mark levels on the daily chart, then trade on the 5 or 15 minute chart. The 30 minute chart is useful for gaps left by the last one or two sessions.

Why wait 15 minutes after the open?

The first minutes have the widest spreads and the most noise. Letting the opening range form gives a cleaner high and low to trade against.

Is SPX or SPY better for 0DTE?

They track the same index. SPX contracts are larger and cash settled. SPY contracts are smaller and settle in shares. Choose the one that fits your account and your premium range.

Does A&O send 0DTE alerts?

No. A&O is not an alert service. It shows the levels and reads, checks contracts against your plan, and you decide.