Tariff news has been plaguing the market, causing a 20% soon in ths S&P 500 Index.
But this morning, some encouraging news came across the wire in the form of a Tweet from the office of the President just after market open at 9:38am ET:
Nothing happened until 3 hours later when it was announced that tariffs would have a 90-day pause.
The market responded with enthusiasm, with $SPX closing +9.5% on the day.
But the story is in the 0-DTE options market. One of many examples is the 25Apr09 5325 call options which traded for $0.25 at 10:00am PT (1:00pm ET) and skyrocketed up to close at $120.
A $1,000 bet on those options became $480,000 in a matter of hours.
Every call was a huge winner today (percent gains shown vs close yesterday).