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Stock Market Options Trading

Eric O'Rourke

The Stock Market Options Trading Podcast is hosted by Eric O’Rourke, founder of https://AlphaCrunching.com, where a growing community of traders focus on short-duration SPX options strategies using a data-driven approach.

Join our podcast community over at https://www.stockmarketoptionstrading.net to improve your stock and options trading skills.

Check out the SMOT YouTube channel for quantitative options strategies and education here: https://www.youtube.com/stockmarketoptionstrading

For the Conservative Options Income Network run by Brian Terry:
https://www.stockmarketoptionstrading.net/spaces/12282222

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  • 28 episodes
  • Avg 15 min
  • English

Episodes 28

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  • S1 · E201
    Monday · 6 min

    201: SPX 0DTE Is Changing: New Expirations, 24-Hour Trading

    SPX 0DTE options trading continues to grow, and Cboe recently announced some interesting developments that could change how we trade SPX options in the future. In this week's Stock Market Options Trading podcast, we're looking at the potential addition of new AM-settled SPX weekly options, the continued expansion of global trading hours, and what all of this could mean for retail traders. Could we eventually see SPX options trading 24 hours a day, five days a week? And how will our charting, backtesting, and gamma analysis tools adapt? We also take a look at the SPX market heading into the week of October 12, including key gamma levels, the 7900 call wall, volatility, and upcoming CPI and PPI inflation reports. At Alpha Crunching, we're continuing to develop and trade systematic SPX 0DTE strategies, including mechanical end-of-day trades that can be executed manually or through automation with PeakBot. Resources & Links 🔹 Alpha Crunching – SPX trading strategies, backtests, and research https://alphacrunching.com 🔹 PeakBot – Automated options trading strategies https://alphacrunching.peakbot.com 🔹 Cboe – Additional AM-Settled SPX Weekly Options https://www.cboe.com/notices/content/?id=61537&utm 🔹 Cboe – SPX Global Trading Hours Expansion https://www.cboe.com/insights/posts/cboe-global-trading-hours Topics Covered New AM-settled SPX weekly expirations Global trading hours and the possibility of 24/5 options trading Challenges for SPX charting, backtesting, and gamma tools SPX gamma levels and the 7900 call wall CPI, PPI, and the market outlook Systematic SPX 0DTE trading strategies Let me know in the comments what you think about these changes. Would you trade AM-settled weekly SPX options or trade SPX overnight? Subscribe for weekly discussions about SPX options, 0DTE trading strategies, market research, and automation. #SPX #0DTE #OptionsTrading #Cboe #SPXOptions #AlphaCrunching For educational purposes only. Nothing discussed is financial advice. Options trading involves risk.

  • S1 · E200
    September 28 · 12 min

    200: Why I Prefer a Lower Win Rate for SPX 0DTE Trading

    Why would an SPX options trader purposely choose a lower win-rate strategy? In Episode 200 of the Stock Market Options Trading Podcast, I break down my recent SPX 0DTE trading results and explain why win rate alone can be misleading. Over the past couple of months, these strategies have produced a 59.4% win rate, but the bigger story is the risk/reward: an average winner of $188 versus an average loser of $158 per lot. Pasted text We’ll look at why I’ve shifted away from relying on traditional high-probability, far-OTM credit spreads for mechanical trades and toward defined-risk SPX strategies with more balanced risk/reward. A lower win rate can be much easier to tolerate when one loss doesn’t wipe out several previous winners. Pasted text Then I walk through a recent premarket SPX iron condor where I used gamma exposure (GEX) to help select my strikes. With SPX expected to open relatively flat and trading in a positive gamma environment, I used the 7750 and 7785 gamma levels as the short strikes of the iron condor. Pasted text The trade was opened about an hour before the market opened for a $4.50 credit and closed roughly 20 minutes after the open for $3.65, capturing $0.85 as opening premium came out while SPX remained inside the expected range. Pasted text Topics covered: SPX 0DTE options, lower win-rate strategies, risk/reward and expectancy, defined-risk options trading, iron condors, premarket options trading, gamma exposure (GEX), gamma support and resistance, strike selection, and systematic SPX trading. For educational purposes only. Not financial advice. 📊 SPX 0DTE Strategies from this video: • EOD Iron Condor Strategy: https://www.alphacrunching.com/blog/end-of-day-iron-condor-a-simple-mechanical-strategy-for-spx-0dte • EOD Put Debit Spread Strategy: https://www.alphacrunching.com/blog/spx-end-of-day-put-debit-spread-strategy-rules-backtest-and-automation 🤖 Automate the Strategies with PeakBot Automate the same Alpha Crunching trade setups covered in this episode: https://AlphaCrunching.Peakbot.com 📈 Join the Alpha Crunching Community Get our trade setups, SPX trading tools, alerts, research, and access to a community of traders focused on systematic options trading: https:/AlphaCrunching.com

  • S1 · E199
    September 21 · 13 min· Video

    199: Scalping SPX 0DTE Credit Spreads Using Gamma Exposure (GEX)

    Can gamma exposure (GEX) help identify better entry points for scalping SPX 0DTE credit spreads? In this episode of the Stock Market Options Trading podcast, Eric O'Rourke from Alpha Crunching breaks down a real SPX call credit spread scalp using gamma exposure to identify potential support and resistance levels. Rather than focusing on the textbook definition of gamma exposure and dealer hedging, we're looking at how to actually use GEX data to make trading decisions. Eric walks through a trade taken on September 21, showing exactly what the gamma exposure chart looked like at entry, why the 7700 and 7725 SPX levels mattered, and how a relatively small pullback created an opportunity to capture approximately 30% of the original credit in about 30 minutes. Access the Gamma Exposure & Market Analysis Platform: https://alphacrunching.sensamarket.com/ Alpha Crunching has partnered with SensaMarket to bring retail traders affordable access to powerful market analysis tools, including gamma exposure, options flow, charting, options modeling, and more. What You'll Learn in This Episode How to use SPX gamma exposure (GEX) to identify potential intraday support and resistance. Why positive gamma and large gamma exposure nodes can help define a potential trading range. How to identify opportunities for contrarian call and put credit spread scalps. Why Eric prefers selling 10-point-wide SPX credit spreads and targeting approximately 30% of the premium collected. A real 0DTE call credit spread trade: selling the 7735 call spread for approximately $1.75 and closing near $1.20. Why gamma exposure levels can change throughout the trading day and why not every market condition presents a trade. We also take a broader look at SPX market conditions, longer-term gamma exposure levels, the economic calendar, and upcoming Federal Reserve speakers. The Trading Approach The idea isn't to predict every market move or hold a credit spread until expiration. Instead, we're looking for potential support and resistance levels using gamma exposure, waiting for SPX to approach those areas, and entering defined-risk credit spreads with the goal of capturing a relatively small move. In this example, SPX was trading near 7725, where gamma exposure suggested potential resistance. Eric sold an out-of-the-money call credit spread and closed it after a small pullback and some time decay. It's a practical example of combining options market data, trade structure, and disciplined profit-taking. Learn more about systematic SPX options trading: https://alphacrunching.com/ Join Alpha Crunching for backtested SPX trading strategies, automated trade alerts, market statistics, and our options trading community. New episodes of the Stock Market Options Trading podcast are published every Monday after the market close. Also available on Spotify and Apple Podcasts. For educational purposes only. Options trading involves risk, including the potential loss of the entire amount at risk on a spread. Historical results and individual trade examples do not guarantee future performance. #SPX #0DTE #GammaExposure #GEX #CreditSpreads #OptionsTrading #SPXOptions #OptionScalping

  • S1 · E198
    September 14 · 9 min· Video

    198: How I Used Gamma Exposure to Build a Risk-Free 0DTE XSP Options Trade

    Resources mentioned in this video: The Money Show: https://orlando.moneyshow.com/?scode=068013 Historical Gamma Indicator: https://alphacrunching.sensamarket.com Alpha Crunching Trading Community, Research, Tools: https://www.alphacrunching.com In this episode of the Stock Market Options Trading Podcast, I break down another 0DTE XSP trade that I was able to convert into a risk-free position—but this time, I spend more time on the market analysis behind the entries. I’ll show how I used Historical Net Gamma Exposure (GEX) to identify an important SPX gamma level around 7,600, look for potential mean reversion, and time multiple credit spread entries. We’ll walk through how the trade evolved from an in-the-money call credit spread, into a reverse iron condor, and eventually into a position with multiple potential profit zones and no remaining downside risk beyond commissions. We’ll also discuss why I’m experimenting with XSP for these trades, how gamma levels can change throughout the trading day, and why I view GEX as another indicator—not something that should be traded blindly. In this episode: Trading 0DTE XSP before the regular market open Using Historical GEX to identify potential SPX levels Turning a profitable credit spread into a reverse iron condor Adding an iron butterfly around a major gamma level Creating wider profit zones instead of simply closing a winning trade Why gamma exposure is context—not a standalone trading signal Managing a volatile 0DTE trading day while reducing risk I’ll also be speaking about SPX 0DTE options trading at the Traders Expo / Orlando MoneyShow, October 5–7. If you’re attending, I’d love to meet you in person. Options involve risk and are not suitable for all investors. This content is for educational purposes only and is not financial advice.

  • S1 · E197
    August 31 · 16 min· Video

    197: XSP 0DTE Strategy: Better Risk-Reward With Credit Spreads

    In this week’s Stock Market Options Trading Podcast, I break down an XSP 0DTE trade I entered at the market open and how I was able to turn the position into a risk-free trade after the market moved in my favor. We’ll walk through the trade structure, why I started with an in-the-money call credit spread, and how adding the opposing spread converted the position into an Iron Condor with no remaining downside risk. I also take a first look at CBOE’s newer Magnificent 10 Index (MGTN), an equal-weighted index featuring the Magnificent 7 plus Broadcom, Palantir, and AMD. We’ll look at why cash-settled index options are interesting for traders, along with the biggest issue with MGTN right now: liquidity. Plus, this week’s episode covers: • The current SPX market setup and important gamma levels • What I’m watching as the market trades below 7700 • This week’s major economic and employment reports • Tuesday’s SPX Opening Range Breakout statistics • The return of the X Files segment The goal is always the same: use data, backtesting, and market statistics to find practical ways to trade the S&P 500 and index options. 📊 Learn more about Alpha Crunching and our SPX trading tools, research, trade setups, and community at AlphaCrunching.com. New episodes of the Stock Market Options Trading Podcast are posted every Monday after the market close. #SPX #0DTE #OptionsTrading #XSP #StockMarket #SP500 #IronCondor

  • S1 · E196
    August 24 · 10 min· Video

    196: Building a Winning Options Trading Portfolio

    📊 Trade These SPX Setups With Us The strategies discussed in this episode are part of the Alpha Crunching Trade Setups, where we use backtesting and market data to build a portfolio of mechanical SPX strategies. Members get access to: Weekly rules-based SPX Trade Setups Live trade alerts in the Alpha Crunching Discord SPX trading tools and market statistics Strategy discussion and live trading chat Automation options for select strategies The goal is simple: data-driven SPX trading with repeatable rules and less time watching charts. 👉 Learn more and join at AlphaCrunching.com What happens when you stop looking for the “best” SPX trading strategy and start thinking in terms of a portfolio of strategies? In Episode 196, I break down four mechanical SPX strategies based purely on the math — without focusing on the actual strategy or setup. We compare: Trade frequency Win rate Average winner Average loser Expectancy Risk/reward The differences are significant. One strategy wins just 35% of the time, while others win more than 70%. But higher win rates come with their own trade-offs, including larger average losses. The interesting part comes when we combine all four. Instead of relying on one strategy that might go weeks without a trade or experience a losing streak, the different mathematical profiles can complement each other and produce a much smoother overall P&L curve. The goal isn't necessarily to find the highest win rate or the perfect strategy. It's to build a collection of positive-expectancy trades that can work together over time. Would you trade a strategy with only a 35% win rate if it improved the overall portfolio?

  • S1 · E195
    August 17 · 8 min

    195: The Friday-to-Monday SPX Edge

    In this week's Stock Market Options Trading Podcast, we're looking at an interesting SPX pattern: Mondays have produced the strongest average S&P 500 returns so far in 2026. Here's the video version: https://youtu.be/mM8y3koyL5A That lines up with a rules-based strategy I've recently added back into the Alpha Crunching trade setups — a Friday 3DTE SPX put credit spread designed to take advantage of bullish market conditions heading into the weekend. In this episode: The Friday 3DTE SPX put credit spread and its 4-year backtest Why a simple 3-day moving average filter matters The surprising strength of Mondays in 2026 How the strategy fits into a diversified SPX options portfolio FOMC Minutes and this week's economic calendar Why markets are already looking ahead to Jackson Hole SPX gamma levels, including the 7900 call wall The employment data I'm watching this week The goal isn't to predict where SPX goes next. It's to use data, backtesting and market statistics to identify potential edges and build repeatable trading strategies around them. Alpha Crunching: https://alphacrunching.com Follow me on X: @OptionAssassin New episodes every Monday. #SPX #OptionsTrading #SP500 #0DTE #OptionsStrategy #StockMarket #Trading

  • S1 · E194
    August 10 · 14 min

    194: Does Gamma Move the S&P 500? What SPX Traders Should Know

    In Episode 194 of the Stock Market Options Trading Podcast, we take a data-driven look at the S&P 500, SPX options, gamma levels, opening range breakouts, and a mechanical 0DTE Iron Condor strategy. We start with lumber prices after an 11-day losing streak and discuss what falling lumber prices may—or may not—be signaling about housing and the broader economy. Then we turn to SPX and an important question for options traders: Do gamma levels lead the market, or does price lead gamma? We look at call walls, put walls, the gamma flip, and why I view gamma levels as useful context rather than a standalone prediction of where the S&P 500 is headed. We also review some interesting SPX 0DTE Opening Range Breakout (ORB) data. Tuesday's 30-minute opening range has recently shown strong historical results following both upside and downside breakouts, creating some interesting possibilities for credit spreads and other intraday options strategies. Finally, I share a mechanical 0DTE SPX Iron Condor strategy we've been trading and tracking at Alpha Crunching, including how the setup works and where you can review the backtest and strategy details. 📊 0DTE Iron Condor Strategy & Backtest: https://www.alphacrunching.com/blog/end-of-day-iron-condor-a-simple-mechanical-strategy-for-spx-0dte In this episode: • Lumber prices and the economic outlook • SPX near all-time highs • SPX gamma levels, call walls and put walls • Does gamma lead price or react to price? • 0DTE Opening Range Breakout statistics • Tuesday's 30-minute SPX ORB setup • Mechanical 0DTE Iron Condor strategy • Using historical data to improve options trading decisions The Stock Market Options Trading Podcast is a weekly show focused on data-driven options trading, SPX strategies, backtesting, mechanical trading systems, and practical ideas designed to help traders become more consistent. New episodes are posted Mondays around the market close. Subscribe on YouTube or follow the podcast on Spotify and Apple Podcasts to catch each week's episode. #SPX #OptionsTrading #0DTE #SPXOptions #Gamma #IronCondor #OpeningRangeBreakout #StockMarket #TradingStrategies

  • S1 · E193
    August 3 · 9 min· Video

    193: Markets Rebound, SPX Gamma Levels, and a 76% Win Rate Options Strategy

    In this week's episode of the Stock Market Options Trading Podcast, Eric O'Rourke takes a data-driven look at the markets, reviews the latest SPX price action, discusses key economic events for the week, and shares insights from a high-probability options strategy currently being traded and tracked. Whether you're an experienced options trader or looking to improve your trading process, this episode focuses on risk management, mechanical trading, backtesting, and consistency rather than predicting market direction. In This Episode Why even billion-dollar hedge funds can fail from excessive leverage SPX market update following the latest geopolitical headlines Gamma levels, put walls, call walls, and what they may signal Key economic events this week: JOLTS Job Openings ADP Employment Report Weekly Jobless Claims Non-Farm Payrolls (NFP) Why oil prices remain an important inflation indicator A breakdown of a 14 DTE SPX Iron Butterfly strategy How to evaluate options strategies using: Win rate Average winner vs. average loser Expectancy Position sizing Why diversifying across multiple options strategies can reduce risk A fun look at common trading myths from the "X Files" segment Key Takeaway Instead of chasing predictions, focus on building a portfolio of strategies with positive expectancy. A single strategy will experience losing streaks, but combining multiple backtested approaches with proper risk management can help create more consistent long-term results. Resources Mentioned Alpha Crunching – SPX research, reports, trading strategies, and Discord community: https://alphacrunching.com Option Omega – Backtesting and options strategy development (use code SMOT for a discount) Follow Eric on X: @OptionAssassin Listen Every Week New episodes are released weekly covering: SPX market outlook Options trading education Mechanical trading strategies Backtesting concepts Risk management Trading psychology Data-driven market analysis If you enjoyed this episode, please Like, Subscribe, and leave a review on your favorite podcast platform. It helps the channel reach more traders looking for a systematic approach to options trading. #OptionsTrading #SPX #StockMarket #OptionSelling #IronButterfly #OptionOmega #TradingStrategies #RiskManagement #Backtesting #MechanicalTrading #0DTE #SwingTrading #MarketAnalysis #GammaLevels #OptionsEducation

  • S1 · E192
    July 27 · 18 min

    192: This Week in Options Trading | Market Outlook & Options Strategies

    This week on Stock Market Options Trading, Eric O'Rourke and Brian Terry break down the latest market action following geopolitical headlines, discuss why the recent SPX rally continues to stall, and share several option trading ideas they're watching this week. Topics covered include: Why the latest SPX gap higher failed and what it says about market sentiment Current gamma levels and key support/resistance zones This week's major economic events, including the FOMC meeting, GDP, PCE, and Consumer Confidence Why intraday trend trading has become more challenging in recent weeks New research showing stronger end-of-day trading opportunities Eric's updated 0DTE trading approach and end-of-day Iron Condor strategy Brian's QQQ and Micron (MU) broken-wing put butterfly trades Managing defined-risk option strategies during volatile markets Whether you're trading SPX, QQQ, or individual stocks, this episode explores how current market conditions are changing the way we approach options trading and risk management. Resources Mentioned ► Alpha Crunching: https://alphacrunching.com ► Stock Market Options Trading Podcast: https://www.stockmarketoptionstrading.net If you enjoy systematic options trading, backtesting, and weekly market analysis, be sure to subscribe for new episodes every week. #SPX #OptionsTrading #StockMarket #0DTE #SPXOptions #Gamma #FOMC #IronCondor #QQQ #Micron #TradingPodcast

  • S1 · E191
    July 13 · 23 min

    191: This Week In The S&P500: CPI, Earnings & Gamma

    In this episode of the Stock Market Options Trading Podcast, Eric O'Rourke and Brian Terry discuss the current SPX market environment, why June was a difficult month for many options traders, and what they're watching as earnings season begins. Topics include: SPX support and resistance using call wall and put wall analysis How gamma positioning may impact short-term market direction CPI, PPI, Federal Reserve commentary, and potential interest rate scenarios Why financial stocks could lead the next market move SpaceX (SPCX) options, covered calls, cash-secured puts, and long-term investing ideas Current 0DTE SPX credit spread trades and managing risk during volatile markets How to approach trading during headline-driven markets Whether you trade SPX 0DTE options, swing trades, or longer-term option strategies, this episode shares practical insights on navigating today's market conditions. 📊 Learn more about Alpha Crunching's SPX research, backtested strategies, Discord community, and market reports: https://alphacrunching.com 🎙️ Follow Brian Terry and Conservative Options Income Network: https://stockmarketoptionstrading.net #SPX #OptionsTrading #SPXOptions #0DTE #StockMarket #EarningsSeason #FederalReserve #CPI #Gamma #CreditSpreads #CoveredCalls #CashSecuredPuts #Investing #SwingTrading #SpaceX

  • S1 · E190
    June 29 · 14 min

    190: SPX Opening Range Breakout (ORB) Strategy Using 0DTE Call Debit Spreads (Part3)

    In Part 3 of this series on building an automated SPX 0DTE portfolio, we explore the final strategy we've added to our growing mix of high-frequency, positive expectancy trades: the 30-minute Opening Range Breakout (ORB) Call Debit Spread. In previous episodes, we discussed the Trend Spread Engine (TSE) credit spreads and the End-of-Day Put Debit Spread (PDS). In this episode, we look at how the ORB strategy adds another layer of diversification by introducing a different combination of win rate, risk/reward, and market conditions. Topics discussed include: Why combining strategies with different win rates and risk/reward profiles matters The mechanics of a 30-minute Opening Range Breakout strategy Why we're only trading upside ORBs above the 5-day moving average The importance of trade frequency and automation Using one-minute confirmation for more consistent execution How portfolio construction can reduce drawdowns and improve consistency Why position sizing matters more than any individual trade outcome Articles Mentioned 📈 30-Minute ORB Call Debit Spread Strategy https://www.alphacrunching.com/blog/30-minute-opening-range-breakout-orb-30-a-mechanical-0dte-call-debit-spread-strategy 📉 End-of-Day Put Debit Spread Strategy https://www.alphacrunching.com/blog/spx-end-of-day-put-debit-spread-strategy-rules-backtest-and-automation 📈TSE (Trend Spread Engine) 0DTE Credit Spread Strategy https://www.alphacrunching.com/blog/spx-0dte-credit-spread-strategy-using-time-trend-and-strike-selection Join Alpha Crunching Get access to SPX trade research, weekly backtested trade setups, real-time alerts, automation options, and our growing community of SPX traders. 👉 https://alphacrunching.com Use coupon code SPX50 for 50% off your first year. More About the Opening Range Breakout (ORB) Strategy The Opening Range Breakout (ORB) is one of the most widely used day trading strategies across stocks, futures, and options markets. The concept is simple: traders allow the market to establish an initial trading range after the open and then look to enter positions when price breaks above or below that range, attempting to capture momentum and trend continuation throughout the trading session. The theory behind the ORB is that the opening period often contains important information about institutional positioning, overnight sentiment, and market direction. By waiting for the market to define a range before entering, traders attempt to avoid some of the noise and volatility that typically occurs immediately after the open. There are many variations of the ORB strategy. Traders may use opening ranges of 5, 15, 30, or 60 minutes and can trade breakouts in either direction using shares, futures, or options strategies. Additional filters such as trend direction, moving averages, volatility measures, volume, or market internals are often incorporated to improve performance and adapt the strategy to different market conditions. In this episode, we discuss how the ORB concept can be applied to SPX 0DTE options trading, how different risk/reward profiles impact performance, and why systematic execution and automation can play an important role when trading high-frequency strategies.

  • S1 · E189
    June 12 · 13 min

    189: The Truth About Win Rate and Risk Reward (Part 2)

    In this episode, Eric continues the Automated Strategy Pipeline series by tackling one of the most misunderstood topics in trading: win rate. Many traders evaluate a strategy based on a single number: the percentage of winning trades. But a high win rate alone doesn't tell you whether a strategy is profitable, scalable, or even worth trading. Using real examples from his own SPX trading portfolio, Eric explains why win rate, average win, average loss, expectancy, and risk reward all work together to determine a strategy's long-term performance. Topics discussed include: • Why win rate by itself can be misleading • The relationship between win rate, average win, and average loss • Why a 30% win rate strategy can still have positive expectancy • The differences between credit spreads and debit spreads • How combining strategies with different risk/reward profiles may smooth portfolio returns • The role of trade frequency in systematic trading • Why automation makes it easier to consistently execute multiple strategies • How Alpha Crunching's new EOD Put Debit Spread complements the existing TSE 0DTE Credit Spread strategy Eric also discusses how he is building a portfolio of automated SPX strategies designed to work together rather than relying on a single edge or market environment. Alpha Crunching: https://www.alphacrunching.com

  • S1 · E188
    June 4 · 15 min

    188: Building An Automated Strategy Pipeline (Part 1)

    🚀 Join Alpha Crunching and save 50% on your first year: https://www.alphacrunching.com Get weekly SPX forecasts, backtested trade ideas, trade alerts, Discord access, and research designed to help you trade with more confidence. In Episode 188, we're kicking off a new series on strategy research, development, testing, automation, and the mindset required to trade systematic strategies successfully. Many traders spend all their time looking for the next great trade. But what happens after you find an edge? In this episode, Eric discusses the concept of building an automated strategy pipeline and why finding a profitable strategy is only the beginning. You'll learn why markets constantly evolve, why every strategy has strengths and weaknesses, and why relying on a single trading system can create unnecessary risk. Topics discussed include: • Why successful traders should always be researching and testing new ideas • The benefits of automation beyond simply saving time • How Alpha Crunching's TSE 0DTE credit spread strategy fits into a larger portfolio approach • Why trade frequency matters when building confidence in a strategy • Credit spreads vs. debit spreads and diversifying risk/reward profiles • Building a portfolio of strategies instead of relying on a single edge • How community feedback, backtesting, and real-world execution help improve trading systems over time Whether you're trading manually or exploring automation, this episode will help you think differently about developing and managing trading strategies for the long term. Alpha Crunching: https://www.alphacrunching.com

  • S1 · E187
    May 19 · 6 min

    187: This Week in the S&P500: SPX Levels, FOMC, and NVDA Earnings

    This week on the Stock Market Options Trading Podcast, Eric O’Rourke breaks down the current SPX market pullback, key support levels, upcoming FOMC minutes, and why Nvidia earnings could be a major catalyst for the broader market and AI trade. Eric also shares how the recent uptrend has continued to favor SPX put credit spreads, how the Alpha Crunching 7-day strategy has been performing, and what traders should be watching heading into the summer market environment. Topics include: SPX support and resistance levels Nvidia earnings and AI stock momentum FOMC minutes and interest rate expectations Zero gamma and put wall discussion Trading SPX put credit spreads in an uptrend Managing profits and pullbacks Current market sentiment and positioning 📈 Learn more about Alpha Crunching: Alpha Crunching 🔥 Get 50% Off Your First Year of Alpha Crunching Use code: SPX50 Inside Alpha Crunching you'll find: Weekly SPX trade ideas 0DTE TSE trade alerts Backtested options strategies Discord community & live discussion SPX market forecasts and research

  • S1 · E186
    May 5 · 25 min

    186: This Week in Options Trading - Market at Highs… Now What?

    👉 Alpha Crunching (SPX data, trade ideas & alerts): https://alphacrunching.com 👉 Conservative Options Income Network (Brian Terry): https://stockmarketoptionstrading.net In this episode, Eric sits down with returning guest Brian Terry from the Conservative Options Income Network to break down what’s shaping up to be another interesting week in the market. With the S&P pushing toward new highs—even with ongoing geopolitical headlines in the background—we talk through what that actually means for traders right now and how we’re positioning around it. We cover: Why this market still feels “underinvested” for a lot of traders Brian’s recent synthetic stock trade and how he’s using options for leverage Eric’s latest SPX credit spread setups and managing risk into the weekend The impact of volatility, gaps, and why sometimes not trading is the best trade Thoughts on the potential removal of the PDT rule and what it could mean for 0DTE traders Balancing short-term trades with longer-term positioning in a fast-moving market As always, this is a real-time conversation about what we’re actually seeing and trading—no hindsight, just process.

  • S1 · E185
    April 28 · 32 min· Video

    185: Inside My SPX Strategy with Option Omega

    Watch the full video version of this episode: https://youtu.be/2RgGjxUe35w?si=m1BU5TwEq973he2k Links & Discounts: Option Omega → https://optionomega.com (Use code SMOT for a discount) Alpha Crunching → https://alphacrunching.com (Use code SPX50 for 50% off your first year) In this episode, I sit down with Matt from Option Omega to break down how I’m using their platform to backtest and execute strategies from Alpha Crunching—with a focus on the Trend Spread Engine (TSE). We dig into the core problem many traders are facing right now: what should I actually be trading in this market? With volatility shifting, trends changing, and many swing strategies not triggering, the goal is to find something repeatable that can be traded consistently. That’s where the Trend Spread Engine comes in. We walk through: Why high-probability spreads alone don’t create an edge How intraday time-of-day + trend + strike selection changes outcomes The idea of tracking trades every 15 minutes to uncover intraday seasonality Using a rolling 90-day dataset to adapt to changing market conditions How I turn that data into actual trades using Option Omega We also get into real examples of how certain time slots (like 10:30am vs 11:30am) rotate in and out of effectiveness—and how that impacts execution week to week. If you’re trading SPX options—or trying to build a more mechanical, data-driven approach—this is a great behind-the-scenes look at how I’m thinking about strategy development right now.

  • S1 · E184
    April 20 · 20 min

    184: This Week in the SP500: Market Holding Strong Near Highs

    In this episode, Eric and Brian Terry break down a market that just won’t quit—despite geopolitical tension, rising oil, and a packed economic calendar. With the S&P 500 hovering near all-time highs, the conversation dives into positioning, risk management, and where the real opportunities might be right now. 🔗 Useful Links (Start Here) 🌐 Alpha Crunching: https://alphacrunching.com 🎧 Stock Market Options Trading Podcast: https://stockmarketoptionstrading.net 💬 Join the Discord Community: (included with Alpha Crunching subscription) 📊 Weekly TSE Report & Trade Setups: Available inside Alpha Crunching 📈 Episode Breakdown This week’s discussion centers around a tricky market environment—strong momentum on the surface, but plenty of uncertainty underneath. The market rallied over 4% last week and continues to hold near highs, even with rising oil and geopolitical concerns Key events this week include retail sales, PMI data, and a major appearance from the incoming Fed Chair Despite potential volatility, the market continues to show resilience, with dips getting bought quickly Eric shares how he’s navigating this environment: Sitting on higher cash levels after covered calls were assigned Looking for pullbacks to re-enter long positions or potentially deploy collar strategies Increasing focus on SPX 0DTE trades for short-term opportunities with defined risk Brian walks through a practical hedge idea using a broken wing butterfly on QQQ, highlighting: Favorable risk/reward structure Ability to profit even in downside scenarios A flexible way to hedge without tying up large capital ⚡ Key Takeaways Short-term uncertainty, long-term bullish tone continues to define the market Many traders are holding cash, which could fuel continued dip-buying 0DTE trading is gaining traction, especially with potential changes to PDT rules making it more accessible Gamma levels and options positioning suggest possible resistance near current levels, but nothing is guaranteed 📊 Strategy Focus Eric discusses leaning more into: Mechanical 0DTE credit spreads using the Trend Spread Engine (TSE) Staying active even when swing strategies aren’t triggering Using data-driven timing, trend, and strike selection to find edge intraday 🎧 Listen On Available on: Apple Podcasts Spotify And all major podcast platforms If you’re looking to stay active in this kind of market, this episode is a solid mix of macro perspective and actionable strategy ideas.

  • S1 · E183
    April 14 · 21 min

    183: This Week in Options Trading: Back Above 6900—Now What?

    🔗 Links & Resources 👉 Alpha Crunching (SPX Options): https://alphacrunching.com 👉 Brian Terry’s COIN Group: https://www.stockmarketoptionstrading.net 👉 Podcast Episodes: https://www.stockmarketoptionstrading.com 👉Latest YouTube video: https://youtu.be/qe_F_GE5Pqo In this episode, Eric O’Rourke and Brian Terry break down a wild stretch in the S&P 500, with the market ripping higher despite ongoing macro uncertainty and headline-driven volatility. They dig into what’s actually driving the move, why traditional indicators like the 200-day moving average aren’t carrying the same weight, and how traders can navigate a market that’s shifting quickly between fear and momentum. You’ll also hear insights on: Why this rally may be more about positioning than fundamentals The role of contrarian indicators like the put/call ratio and fear index How short-term options traders are adapting in this environment Real trade examples and how risk/reward is being managed right now If you’re trading SPX options or just trying to make sense of this market, this episode gives you a grounded, real-time perspective from two active traders. Trading is better when you’re not going it alone—plug into the communities above to stay connected and keep improving.

  • S1 · E182
    April 3 · 6 min

    182: 3 Reasons the Stock Market May Have Bottomed

    In this episode of the Stock Market Options Trading podcast, host Eric O'Rourke breaks down three key reasons why a potential short-term bottom may be forming in the market. Despite ongoing geopolitical tensions and recent volatility, Eric walks through the signals that suggest the market may be stabilizing—and possibly preparing for a move higher. In this episode, you’ll learn: Why dip buyers stepping in during negative news could signal strength What the recent drop in the VIX tells us about market sentiment How stronger-than-expected economic data is influencing market direction Why the market may already be looking past current headlines How short-term traders can think about longer-term market positioning Eric also shares an important perspective on how the stock market tends to look months ahead—something many short-term traders often overlook. Whether you're trading SPX options or just trying to understand current market conditions, this episode offers a practical, data-driven view of what might come next. 🔗 Resources & Links: Alpha Crunching (SPX trading tools, data, and community): https://alphacrunching.com Stock Market Options Trading: https://www.stockmarketoptionstrading.net About the Host: Eric O’Rourke is the founder of Alpha Crunching, a growing community focused on data-driven SPX options trading strategies. Through research, backtesting, and real-time tools, Alpha Crunching helps traders identify high-probability opportunities in short-duration trades.

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