system
A chat on subreddit /r/wallstreetbets
human
Thats because the vix essentially fell as we fell from 400 to 378
gpt
Even though vix keep dropping today, but if you look at the spy iv pricing this morning, it was still above average, (probably due to aftermath of cpi for those who's still holding some of those options). Therefore if you traded 0dte most likely u overpayed for the option as well. And most likely ended up losing most of the time.

Honestly, the last 3 days was the worst setup for trading 0dte I have ever seem. Doesn't matter if u are bullish or bearish, if u didn't sell fast enough, most likely it will ended as a loss.

Edit Note: here a little conspiracy theory, pretty much all big banks beat on eps and revenue on the earning today. Guess where most of those revenue came from? Yes, from "trading revenue", in another word from people trading options.