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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August 17, 20268 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
August 10, 202614 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
August 3, 20269 min
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
July 27, 202618 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
July 13, 202623 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
June 29, 202614 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.
June 12, 202613 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
June 4, 202615 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
May 19, 20266 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
May 5, 202625 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.
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