The link with charts and data is here:
https://optionalpha.com/blog/0dte-options-strategy-performance#:~:text=Top%20Performing%20Trades-,0DTE%20Options%3A,-Strategy%20Insights%20fromCharacteristics of Profitable 0DTE Traders

This research represents the activity and habits of the roughly 20% of Option Alpha 0DTE traders who have over 100 trades and are net profitable. 100 trades were chosen arbitrarily but should provide a “good enough” filter to represent a serious 0DTE trader.
The results provide an overview of the trading behaviors and performance of profitable traders for different strategy types, holding periods, and entry and exit conditions.
The research showed that three key variables led to better performance:
• Strategy type
• Entry & exit times
• Profit targets & stop losses
Neutral strategies
Neutral strategies were not only the most popular setups, they also had the best performance overall. Iron butterflies and iron condors comprised 78% of 0DTE positions and had win rates of 66.76% and 70.19%, respectively.
Entry & exit time of profitable trades
Most profitable trades were entered after the morning volatility and remained open for an average of approximately two hours. Broadly, consistently profitable traders opened positions at approximately 10:15 AM ET and closed shortly after 12:00 PM ET.

Line graph showing the entry time for all profitable 0DTE trades at Option Alpha.

Line graph showing the exit time for all profitable 0DTE trades at Option Alpha.
Optimizing profit targets and stop losses
Next, we wanted to determine what the most common exits were for both profitable and losing trades since the majority of these trades were not held until expiration.
The average percentage gain and loss for each strategy type highlights where successful traders are putting their profit-taking and stop losses.

The average gain and loss % for profitable 0DTE positions.
The data shows that targeting iron butterflies with small profit targets and stop losses led to successful trading based on the research. Profitable Option Alpha traders opened trades at 10:15 am EST on Mondays and Wednesdays and closed the position when it hit a profit of 15%, cut losses at -25%, or exited the trade at 12:00pm EST if neither exit criteria were met.