Jackson Hole and 0DTE

I just read that historically the Fed chairman speech at Jackson Hole rarely has a big impact on the market. Also said that options markets aren’t pricing in any “fireworks”. With 0DTE contracts now accounting for about 55-65% of options in SPX, I’m wondering how much weight should be given to that last statement. If 60% of the contracts have not yet been placed, then we only get a “minority view” from the options world prior to the day of the event. Also, I need a clarification. I believe 60% of contracts being 0DTE means that, on any given day, for every 100 contracts written on that day, about 60 of them are 0DTE and the remainder are other expirations. Is this correct? Because if it is, then the numbers get massively skewed and 0DTE basically drives everything on a day like today. My reasoning is that those other 40 contracts could be spread out from 1DTE all the way through people writing 30-day, 90-day, or maybe even LEAPS that are a year or more out. I’m assuming a good way to tell the ratio on a given day is to look at open interest because that represents existing contracts. When I look around the opening price I see a few thousand contracts on various strikes, but nothing close to the hundreds of thousands of contracts we see on both call and put side by end of day. So again I would say 0DTE drives just about everything for the day and a statement such as “options markets aren’t pricing in any fireworks” is a relatively useless statement. At least for short-term options traders.