Nick, Bat, and Kai break down April’s 0DTE performance after one of the strongest trending months in years, where one-sided price action created persistent pressure on iron condors. The data shows how a handful of large directional days drove most of the losses, with trades often hitting max loss quickly and offering little opportunity to manage positions intraday.

They then analyze rolling as a risk management tool, showing how adjusting positions early can significantly reduce drawdowns and improve overall consistency. While rolling extends trade duration, it helps neutralize directional exposure and smooth P&L, especially in trending environments where standard approaches struggle.