Source: Fidelity
It’s even worse on SPY. The final 30 minute pump caused over 22K puts at $397 and $398 strike to expire worthless while bringing only 10K calls ITM.
h/t BGID_to_the_moon
Do 80+% of 0dte options expire worthless everyday? QQQ landed at almost exactly where most calls and puts would be OTM. Pure coincidence?
