SPY 0DTE options trade through the regular session until the 4:00pm ET market close and expire at end of day. Simple — but the final stretch is treacherous, so the timing is worth understanding precisely. (Confirm exact settlement details with your broker, as specifics can vary.)

The trading and expiration timing

You can trade (open and close) 0DTE SPY options during regular market hours, up to the 4:00pm ET close. They expire that day — so an option you hold at expiration settles based on where SPY finishes, either in-the-money (has value / auto-exercises) or out-of-the-money (worthless). For a scalper, the practical point is: you have until the close to be in and out, and you want to be out well before it.

Why the last stretch is treacherous

The final minutes combine everything dangerous: the fastest decay, the widest spreads, and a violent tug-of-war around key strikes as expiration mechanics dominate. Prices can swing wildly as options flip between ITM and OTM. Most scalpers make a deliberate decision to be flat before this window rather than gamble on the bell.

0DTE trades until 4:00pm ET — but the smart money is usually gone before then. The closer to the bell, the crazier (and thinner) it gets.

The quick takeaway

SPY 0DTE options trade to the 4:00pm ET close and expire that day — but plan to be out before the chaotic final minutes. Know the timing, have an exit plan, and don't drift into the bell by accident. NoVo's disciplined exits keep you from getting stranded in the close.