When I looked at the SPY options, the 0DTE options had a penny spread. The bid/ask was $0.14/$0.15. That penny spread on a $0.15 option is 6.7%. The spread on the next day expiration was also a penny.

Diagonal Spread: Mixing features of vertical and horizontal spreads, a diagonal spread involves a long option and an opposite short option with different strikes at the same expiration.

Earn your options trading stripes with ZEBRA spreads. I’m already long NVIDIA . Earnings are coming up on August 23 and I’m looking for a way to add to my position.

Chart 2: Options relative spreads are higher for less expensive strikes and lower for more expensive ones. Spreads in cents. When looking at spread in dollar terms, however, ...