Systematic 0 DTE SPX income with real risk controls
We target the volatility risk premium in same day SPX options and pair it with explicit tail hedges and diversifying overlays that are built to keep you in the game.
"We do not guess direction. We size, hedge, and let a repeatable edge compound over many trades."
Request Fund AccessHow We Generate Returns
Most traders speculate on short term moves. We focus on a measurable edge. The Volatility Risk Premium is the tendency for implied volatility to sit above what the market actually delivers over time. We run a rules based program in 0 DTE SPX options, the deepest and most liquid index options market, to harvest that spread.
Capturing VRP is not as simple as always selling the same strike or the same structure. Our framework tracks intraday volatility, skew, event risk, and liquidity. We decide where to place risk, how much to size, and when to reduce or stand aside when the odds are not in our favor.
The outcome is a daily, repeatable process that treats 0 DTE options as a risk business, not a hobby trade. The focus is consistent execution, controlled drawdowns, and giving the statistics time to work.
Why Sophisticated Investors Choose PNL
Edge Focused VRP Harvesting
Our process is built around edge, not excitement. We scan the SPX volatility surface across strikes and expirations, then allocate to the pockets where VRP is most attractive for the risk taken. Position sizing and structure choice follow the data instead of opinion.
Layered Downside Protection
We assume sharp moves, gaps, and trading halts will happen. The portfolio carries systematic tail hedges and non correlated anti strategies that are designed to pay when the market breaks. The goal is simple. Stay solvent, stay liquid, and be ready to trade the next day.
Efficient 60 40 Tax Treatment
SPX options are Section 1256 contracts for eligible United States taxable investors. Gains receive blended 60 percent long term and 40 percent short term treatment, which can be more efficient than strategies taxed as ordinary income. Investors should confirm their specific situation with their own adviser.
Institutional Risk Management
Harvesting VRP is only useful if capital survives stress events. Our starting point is not how much we can make, but how much we can lose and still be comfortable.
The risk framework uses multiple lines of defense. Explicit tail hedges that benefit from extreme moves. Anti correlated strategies that behave differently when trend and volatility regimes change. Dynamic sizing that cuts exposure when realized volatility expands or liquidity thins.
Flash crashes, circuit breakers, and surprise news are treated as part of the design, not edge cases. We care about one thing above all. Survive, stay in control, and allow compounding to do the heavy lifting over time.
Partner With Us
We work with a limited number of accredited investors who understand options, accept that drawdowns are part of any real strategy, and want a professional, rules driven approach instead of discretionary day trading.
Submit the form to request our confidential fund overview, track record summary, and risk documentation. A partner will contact you to confirm alignment, answer questions, and outline next steps if there is a mutual fit.
Important Disclosures
Informational Only
This site is for informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to buy any security or interest in PNL Capital Partners LLC or any related vehicle. Any offer will be made only through a confidential Private Placement Memorandum provided to qualified investors.
Accredited Investors
Information about investment products is intended only for investors who qualify as accredited investors as defined in Rule 501(a) of Regulation D under the Securities Act of 1933 and any applicable local rules.
Risk of Loss
Options trading involves a high level of risk and can result in the loss of capital. Strategies that sell volatility can experience sharp drawdowns. Past performance, whether actual or backtested, does not guarantee future results. Any investment or trading decision is made at your sole risk and responsibility.