---
title: 'Gamma Blast Strategy | Expiry Jackpot Strategy | Zero-Hero Trade'
source: 'https://youtube.com/watch?v=TqEPH5IBqtY'
video_id: 'TqEPH5IBqtY'
date: 2026-07-20
duration_sec: 541
channel: 'The Brain Titans'
---

# Gamma Blast Strategy | Expiry Jackpot Strategy | Zero-Hero Trade

> Source: [Gamma Blast Strategy | Expiry Jackpot Strategy | Zero-Hero Trade](https://youtube.com/watch?v=TqEPH5IBqtY)

## Summary

This video explains the concept of 'Zero-Hero Trades' in options trading, focusing on how gamma blasts on expiry days cause massive premium spikes. It covers the role of delta and gamma, how at-the-money options experience gamma explosions, and provides a strategy to capture these moves while warning of the high risk involved.

### Key Points

- **Zero-Hero Trades on Expiry Days** [00:03] — Zero-hero trades occur on options expiration days when retail traders with limited capital see extreme premium moves, often resulting in losses for most.
- **Understanding Delta** [01:21] — Delta measures the change in option premium per point move in the underlying. For example, if Nifty is at 25,000 and a call option has delta 0.50, a 100-point rise increases premium by 50 points.
- **Delta Ranges for Options** [01:49] — Out-of-the-money options have delta between 0.00 and 0.50, at-the-money around 0.50, and in-the-money between 0.50 and 1. Call options have positive delta, puts negative.
- **Gamma's Effect on Delta** [02:27] — Gamma measures the rate of change of delta. If gamma is 0.008 and Nifty rises 100 points, delta increases by 0.08 (from 0.50 to 0.58), further boosting premium.
- **Gamma Peaks at At-the-Money** [03:43] — At-the-money options have the highest gamma. As price moves away, gamma decreases. Time also reduces gamma.
- **Gamma Blast on Expiry Day** [04:16] — On expiry day, as price approaches the strike, gamma spikes dramatically, causing delta and premium to surge rapidly. This is called a gamma blast, leading to zero-hero trades.
- **Premium Reversal After Gamma Blast** [05:34] — Once the option becomes slightly in-the-money, gamma drops, premium falls sharply, creating long upper wicks on candles. Traders entering at the peak often incur losses.
- **Strategy to Capture Gamma Blast** [06:05] — Buy a slightly out-of-the-money option (e.g., 25,050 call when Nifty is near 25,000). Low premium and low gamma initially, but if market moves above strike, gamma and premium explode.
- **Risk Management Advice** [07:38] — Win rate is very low. Never use full capital; avoid deep out-of-the-money options as they have only time value (theta) and decay quickly if market moves sideways.

### Conclusion

Gamma blasts on expiry days create extreme premium spikes, but they are high-risk trades with low win rates. A disciplined approach using slightly out-of-the-money options and strict capital management is essential to potentially profit while avoiding total loss.

## Transcript

why zero-hero trades are formed on options' expiration days, the can spot zero-hero trades. Currently, the market experiences some kind of
expiry every day of the week. It's Because every day is an expiry day, many retail traders with limited capital
many retail traders with limited capital few of these traders make a profit, while a large number of traders incur losses. However,
large number of traders incur losses. However, both the profitable and the losing traders have
traders treat it like gambling. While trading, this is called a "Zero Hero Trade." Therefore, in today's video, we're going to explore the reason behind the explosion in option premiums. For this, we first need to understand the Greeks: delta and gamma. For
example, if the spot price of Nifty 50 is currently 25,000, and at the same time, the delta of a call option with the same strike price is 0.50, then if
Nifty rises by 500 points to 25,100, the premium of this call option will increase by 100 * the delta value, i.e., by 50 points. If you've closely observed the option chain in the market, you'll understand that the
you'll understand that the delta value of out-of-the-money options is always delta value of out-of-the-money options is always between 0.00 and 0.50. At-the-money options have a delta value around 0.50, and in-the-money options have a delta value between
and in-the-money options have a delta value between 0.50 and 1. Call options are always counted as positive, while put options are always counted as negative.  The always counted as negative.  The
delta also changes from time to time. Now, for this, you need to understand gamma. If there is a Now, for this, you need to understand gamma. If there is a
delta value of the call option at this strike price is currently 0.50, and its gamma value is currently 0.008, then if Nifty increases by 100 points, the gamma value will increase by 100. In this way, the value of gamma will
increase, and as gamma increases, the value of delta will also increase, due to which the premium of the option will also increase in the same manner. Now, if you are confused by seeing this calculation, then I will if you are confused by seeing this calculation, then I will
is 100 points bigger, so multiply 100 points of Nifty by the gamma value. Here, your answer will be 0.08. Now, add this to the delta value, due to which delta will increase from 0.50 to 0.58. Now, add the delta value to your
option premium.  Plus, However, if you believe me, you don't need to perform any of these calculations
in live trading. As an options trader, simply paying attention to this graph will suffice.
and at-the-money options have the highest gamma. Similarly, the gamma of deep-in-the-money options is low. This means that as the price moves away from at-the-money, its gamma decreases. Time also plays a role in the decrease of gamma. However, in the
opposite direction, as the price moves in-the- money, the delta of the option increases. Now, let's understand how gamma explodes on the expiry day. The Now, let's understand how gamma explodes on the expiry day. The
gamma chart on the expiry day looks something like this. eye on the 25,000 call option. As the market slowly As the market slowly approaches the 25,000 level, the delta
and gamma values ​​gradually increase. However, as soon as the price reaches the 25,000 level, our call option becomes at-the-money because at-the-money options have the highest gamma. Therefore, as soon as an option becomes at- the-money, the gamma of this option
shoots up, causing the delta to increase rapidly, and the option premium increases just as rapidly. Due to all this, gamma increases so rapidly that it becomes very difficult to capture. Therefore, in trading terms, it is
called a gamma blast. Therefore, in the last few days before expiry, you see such large spikes on the option premium chart, due to which the option premium trading at ₹1 suddenly goes up by ₹1 or even more. That's why
gamma blast is nowadays called a row hero trade. However, as soon as the price becomes slightly in-the-money, the value of gamma returns.  The option premium begins to decrease, causing the option premium to decrease. The option premium candles, after hitting a high,
begin to fall again, creating a long upper wick. While the delta value remains the same, the value remains the same, the
Therefore, on the expiry day, as soon as you enter at such an increased premium, the option premium decreases sharply, resulting in a loss. Therefore, you should resulting in a loss. Therefore, you should
effect subsides and the premium price normalizes. Now, let's find out how you can catch this gamma blast early. Now, you have a chart of Nifty 50, looking at which you have analyzed that the market can definitely go up from this point. It is
looking at which you have analyzed that the market can definitely go up from this point. It is price on the chart is currently trading near these levels. We are going to buy the call option here, assuming the market will go up. Therefore, our  According to this level, this
level represents the at-the-money strike price on the chart, below which is the in-the-money strike price, and above it are all out-of-the-money options. As we move away from the at-the-money, we move deeper into the money and deeper out-of-the-money.
Now, according to our analysis, the market can break the 25,000 level and market can break the 25,000 level and move higher. Therefore, we are going to go 50 points above 25,000 and buy a slightly out-of-the- money option, i.e., a 25,050 call option.
This option has a low premium, so we wo low premium, so we wo n't need to invest much capital. Furthermore, due to the low gamma of this option, if the market, as per our analysis,
moves higher and tries to move above 25,050, the tries to move above 25,050, the also increase rapidly, allowing us to capture the gamma blast and
make a good profit. However, I request you to be careful with your position, as the win rate in such trades is very low. Zero Hero trade should never be done with full capital, otherwise you can lose your entire capital in a single day.
Also, you are getting a very cheap premium, so do not buy deep out of the money options because in this only the time value i.e. theta value is left, hence if the market goes sideways even for a short time, then there are
some people complicate this small thing by calling it Ro Hero Strategy and Strategy and Therefore, if you like our content, then you can send us super thanks as per your wish by
clicking on the thanks option visible below this video and support us. The Brain Titans