On Options Jive, Tony and Nick bring Kai in for a weekly 0DTE breakdown after a brutal stretch of volatility. The backdrop is still intense — S&Ps ripping higher, oil backing off, and volatility finally starting to come in — but the bigger takeaway is that even with VIX near 30 and some ugly downside pressure in recent sessions, 0DTE iron condors still held up better than many traders might expect.
Kai’s research shows the key edge clearly: implied volatility stayed well above realized volatility, which gave premium sellers more room than the fear in the market suggested. Over the last two weeks, the standard iron condor still produced mostly winners, and put spreads actually outperformed thanks to early rallies that let traders grab profits fast. The message is simple: high vol looks scary, but if realized movement stays inside the priced-in range, the mechanics can still work.