Iron Fly

The 2 PM SPX Iron Fly spent 110 of 119 minutes flat or negative, hit -47% at the worst tick, and still closed +$910 (+82%) because nothing was allowed to touch it.

When a 0DTE SPX Iron Fly faces a relentless, one-sided market without a stop-loss, it becomes a textbook insurance claim payout. Here is the minute-by-minute breakdown of a $2,050 lesson in casino math.

Four wins, one brutal loss, and a +$1,614.00 week. The real story is what happened at 3:51 PM on Wednesday — a 7-point SPX spike in 60 seconds that turned a manageable drawdown into a -$1,350.00 gut punch. Here is the full minute-by-minute breakdown.

Most 0DTE bots are designed around exits. You set a profit target at 35% or 50%, and the bot takes the money and walks away. You set a stop loss at 50% or 100%, and the bot protects you from the worst. This bot doesn’t have either. The 2:00 PM Iron Fly enters at 2 PM every day, sells the ATM straddle, buys $40 wings for protection, and holds until 3:59 PM no matter what. There is no profit target to trigger early. There is no stop loss to save you. You are fully committed to wherever the market decides to close. ...

Today ran two Iron Fly bots in the same afternoon session. Same strategy, same $40 wings, same 100% stop loss rule. One lost $1,531. The other made $35 and closed clean at 3:59 PM. The only difference was a 30-minute gap in entry time. Here’s what happened. The Two Setups Both bots were looking for the same thing: sell the ATM straddle, buy $40 wings, collect premium, and let the afternoon session decay the position toward zero. ...

Most traders talk about ’tight stops’ and ’locking in profits,’ but today’s trade was about the opposite: pure mechanical commitment. The bot I used for this afternoon session is named ‘2:00pm - Ironfly - $40 width - No Profit & No Stoploss.’ It’s a strategy designed to let the math play out fully until the final minutes of the market. No flinching, no early exits, just a bet on the 7130 pin. ...