According to The Kobeissi Letter, 0DTE (zero-day-to-expiry) options accounted for 67% of total options trading volume on Tuesday, marking an all-time high. Over the past three years, the volume share of these high-risk instruments has more than doubled, indicating a significant surge in risk appetite among traders (source: @KobeissiLetter, May 8, 2025). This rapid shift toward ultra-short-term derivatives trading often signals a growing preference for high volatility plays, which can spill over into major crypto assets as traders seek similar rapid-return opportunities. The increased use of 0DTE options is likely to amplify short-term volatility in both traditional equity and cryptocurrency markets, as heightened risk-taking tends to correlate with larger price swings in digital assets.