Cheap Enough vs Close Enough

Pick how far out of the money you want both legs. Every price below is a real traded 0DTE print at 10:15 ET across 65 SPY sessions, and every touch rate comes from those same sessions' own 1-minute paths. The two things you need are pulling in opposite directions.

4 points
same distance on both legs
total debit you are willing to pay
Call leg
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Put leg
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Campaign debit
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Either strike touched
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within 60 minutes
Either touched, whole day
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by the closing bell
Both touched
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the "second strike" case
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What this is and is not. Prices are the median traded print for that distance at 10:15 ET across 65 sessions (Mar–Aug 2026), pulled from real 1-minute option bars — not modelled, not quotes. Touch rate means the underlying reached the strike, which is a ceiling on the profitable case rather than the profit condition: a long option can pay well before it goes in the money, and can also fail to pay after it does. The dispersion is large — the same nominal 4–5 point call traded at /bin/zsh.18 on the cheapest day of twenty and .87 on the richest, so a rule that buys "the /bin/zsh.12 contract" is silently buying a different distance every day.