Zero Hero Expiry Day

Zero Hero Expiry Day Cheat Sheet

1. Timing Zones

• Market Opens: 9:15 AM – Avoid early traps
• Watch from: 1:30 PM onward for strong setups
• Max Decay Zone: 2:30 PM to 3:25 PM

2. Key Indicators (Option Chain Clues)

Clue	Call Side (CE)	Put Side (PE)
LTP Fall	>90% = CE likely Zero Hero	>90% = PE likely Zero Hero
OI Rising	OI↑ with LTP↓ = CE weak	OI↑ with LTP↓ = PE weak
Premium Holding	CE above ₹40 = Bullish sign	PE above ₹40 = Bearish sign

3. Market Trend Interpretation

• Uptrend: PE premiums crash → PE Zero Hero
• Downtrend: CE premiums crash → CE Zero Hero
• Sideways: Both CE & PE decay → Dual Zero Hero

Sideways Market Rules:

• Price stays in 30–40 point range for 1+ hour
• Both CE & PE premiums decay sharply (especially under ₹10)
• No breakout candles on 5-min chart
• High theta, low delta = quick premium burn
• Ideal for selling options, avoid buying

4. Example Scenario

Spot: 24350
24400 CE @ ₹0.55 (-98%)
24300 PE @ ₹3.70 (-91%)
→ Likely Zero Hero: Both sides, possible sideways or fade-out expiry

5. Pro Tips

• Check OI + Volume + LTP collapse = Strong clue
• Zero Hero options mostly die after 2:30 PM
• Stick to 3–5 strike range near ATM
• Never average out-of-the-money buys

For educational purposes only. Trade with stop loss.