 It's the end of the day, almost time for the bell How many options will you sell? Fire up your platform, get ready to enter But first let's get the mindset centered Hey, hey, let's get half success Find what works for you and forget the rest Stats and probabilities is what I'm gonna dismiss Greed and doubt, focus on the process Not the money and the profits will flow like honey Power our lives, let's start the show Come on trade hackers, get ready to go Zero date options, time to make bank Get locked and loaded, then be ready to play What's up everyone, welcome to Power Hour Live Monday, October 16th Hope everybody's doing well Big bounce back today S&P up 45, NASDAQ up 180 Russell up 28, Dow up 300 NASDAQ, the strongest of the, oh no Russell strongest of the bunch Volatility, big contraction 10%, VIX is down 10% After being up as much as 20% On Friday So I did a AM ratio, hit first profit target Got stopped out for profit on the second portion I tried to do a RIC After it bounced, it started kind of consolidating Around right here, around 40 minutes After the market opened and then it kind of took off Didn't get filled, so I missed out on RIC Anyone else take RIC? Getting on where he got in, I would assume it should have hit No RIC And then Once we got up to Kind of just a discretionary trade I took once we pushed up, basically to the top Where we got up to the peak of October 10th And then October 12th, kind of that price level I sold some calls And took those off when we got that little flush Now we got this bounce, I started playing around With my JSP back test That for strong short squeeze up 1% Playing around with it, looking at 0.7% To see what that was like, looked pretty good So I got in some JSP's as well, which I'm still in Up a few hundred on that Price can get up to about $43.80, those should hit For power hour though, we do have the short squeeze So Trunch 1, I'll be doing 2 to 1 ratio So I need to buy some longs Looks like we should be 5 wide for Trunch 1 Let's see where we settle out here in the next minute or so Put on a 1.3 DTE double calendar Earlier, it's up a couple hundred I'm also, after I get into Trunch 1 I'm also going to put on a 2.3 double calendar To put some more longs on the Thursday when JP is talking Alright, so 75.70s 75.70s for Trunch 1 Ratio, trying to get filled at 10.90, filled at 10.90 And getting a little bounce right after I got in 2.3 reminder, so what I was saying there Oh, got filled on some JSP's At 50% on that little bounce So we got Powell speaking on Thursday So I put on a 1.3 to get some longs on that day I want to put on a 2.3 as well So bear with me for just a minute here I have any overlapping strikes The 35s and the 20s Okay, 4.15s Let's try this Yeah, sorry, I was just, I'm trying to get filled On a 2.3 double calendar here On a different monitor And my order is getting rejected for some reason I'm trying to figure out why SPX bouncing Hmm Well, time Alright, I'm gonna have to figure it out later Something, I'm doing something wrong So I'm just gonna, I'm just gonna skip it Alright, back to Power Hour Nice little push up, helps the ratio Also good for the JSP's Focus, yes, need to focus So I saw some folks got stopped at On the AM ratio It looked like he had the 70 strike Versus the 75, so that just That little difference helped But some others hit their profit targets as well I got in within 30 seconds of the bell In fact I got in and literally within Two minutes I was up like 13 or 1400 bucks Just got some quick contraction And then on that initial 5 minute bar, that big push up That little pull back It kind of pumped the volatility back in I was only up like 7 or 800 But quick, really quick contraction out of the gate I got a, yeah I was pretty fortunate I got a good fill Yeah, I used the trade link stop On AM ratios, yep Quanteo I'm doing it Two puts versus one call Make sure you can check the trade plans channel And you'll see all the All the links to the different strategies SPX is over a half percent higher from the open That's why I'm doing a two to one Man that, if you guys caught the Weekly video update, I talked about this a little bit But Friday was weird, right? Like, I mean the S&P was down Around a half percent, Dow was actually green And yet VIX was up 20% And so, as you guys, as I mentioned And as you guys saw, I started reducing risk Shedding some positions that I thought Needed to be let go In anticipation of something, I thought Something fishy is going on, it still might be But now we got a big bounce back Big ball contraction, so who knows But sometimes, I very rarely ever do that But Friday was one of those days where I was just like Something just doesn't smell right And when something doesn't smell like smell right I just feel like I need to reduce risk I left an F on so that this all contraction really helped Some of those portfolio margin trades for sure But it's very interesting So I got some more JSP's that'll come off at 250 They're currently trading at 320 Our time flies need a little push lower We got the one here It's got a double calendar adjustment, double diagonal It's gonna either need to sit here Any more push up, any more ball contraction It's just gonna take longer If we get a little bit of a pullback tomorrow Might be able to start peeling off for some profit And we've got the one with October 27 With the single calendar adjustment Looks like we're pretty close to break even on that one Again, could use a little pullback And then we added a calendar adjustment To our no third one today And that one's down a little bit Pretty well centered though I've got a 5.7, it's up a little bit It was up more I'll close that out at the end of the day tomorrow Short strangles and MES and QQQ Or like in this ball contraction Oil still not contracting much Dead centered, but a little bit down on that I did put on a long VIX call spread Just as a hedge Since we got this massive contraction In case there's still something going on behind the scenes That we don't know about And we get a reversal tomorrow I just wanted to have a little bit of a hedge on So I used a long call VIX spread for that My 5.7, I've got the 42.55s, 43.90s SPX bouncing a little bit I got in, let's see I got into Tronch 1 at 10.90 So I need to reduce my stop once it gets to 6.55 And it's currently trading at 8.75 Yeah, my 5.7, it was up a few hundred earlier today It's basically the scratch Looks like it's up about 10 or 20 bucks now Getting some quick decay coming into this ratio For Tronch 1 Tronch 2 and 3, I'll just do 1 to 1 Yeah, the yield curve inversion That's tatted quite a bit It's kind of a precursor to recessionary type situations But it's a little bit more of a longer term approach Than I was talking about I was really just talking about how volatility exploded And yet nothing was really moving But yeah, from a longer term perspective I've done a lot of statistics Around that yield curve inversion as well Getting close to closing out some JSP's Trading at 260, I'm looking for 250 Yeah, it was going inverted Uninverted, kind of bouncing back and forth for a while There's my JSP's Alright, so I still got 4 left I don't know, I still got 2 left Got an order at 50 cents for those ones Coming up on Tronch 2 Buy some longs Looks like it might be the 80, 75s 5Y again I just do 1 to 1 for Tronch 2 And 3 I only do the ratio on Tronch 1 And SPX, let's see We had a high of day of about 43, 83 We're at 79 right now So just a few points under the high of day Might get a straddle In Tronch 2 for a while I prefer never to see it straddle in Tronch 2 Might be back to 5Y here Just a little few ticks lower to get 5Y Tronch 2 is going to be 5Y Tronch 2, 5Y Trying to get 5.50 Be weighted a little bit Bounce between the 80s and 75s on the put side I always get in at 2.14 here Looks like it's back to 5Y Tronch 1 is down to 7.70 I'm looking for 6.55 Tronch 2, I got filled at 5.50 I'm looking for 3.30 To reduce my stop on Tronch 2 The remaining puts are the 43.75 I need price to stay above 43.75 Just a couple of those left though We still got some time before Tronch 3, it's going to be 5Y Vicks obviously had a big contraction overnight It was real on edge We just had that little pullback here Right after the first 5 minute bar So like the 10 minute and the 15 minute bar When they turned red Vicks really popped up It's just a little on edge Start getting a little spiky on this little flush too But then just continue to Grind lower I also put on a TGIF today It's up a couple hundred So far Tronch 1 is still trading around 7.80 I need 6.55 A little bit of a pullback on that one Here's a little pullback getting back to center Tronch 1 down to 7.20 Can you explain the stop loss triggers on spreads What's the difference of no bid It's trying to get a price On each leg If there's no price on one of the legs That's why it sometimes won't trigger Or you'll get really bad slippage Well, it's going by the mark price If there is a price on that leg I did not trade any futures today Oh, I'm sorry, no I did I tried to get short Once we started pulling back and bounced a little bit I tried to get short right in here And then I had a tight stop So I got stopped out on that big push But that's the only futures I did today A few minutes until Tronch 3 Looks like It's either the 85 or 80s And then the 75s on the put side Maybe the 85-75s Give it another minute or so I'm still trying to push a little bit They're going to be 10 wide, low premium Or 5 wide, big premium Give it about 20 more seconds Looks like it might be 10 wide It's a tweener It's a tweener 85-75s Trying to get filled at 270 270 Pretty low But it is 10 wide So 43.75 is the ultimate sweet spot Tronch 1 is down to 720 Still looking for 655 Tronch 2 is at 440 I'm looking for 330 A little pullback for Well, for both Tronch 1 and 2 To get our stops reduced The ASPs are trading down to $1.35 $1.45 I use a fixed stop on all three of my Tronches Tronch 1 and 2, I do ratchet down But they're all fixed They're not trailing stops Tronch 1 got down to 695 Just a little pullback Tronch 2 is at 430 I need 330 on that one Fixed down 11% Down to 1720 Popping up to a high On Friday at 20.78 And it's still pushing About to get our first market on close In balance 337 million sell side There you go Come on down Nice and easy For 655 And then I'll reduce my stop to 3 bucks 690, 685 Tronch 2 is trading at 405 I need 330 on that one 615, there it was Alright, reducing my stop on Tronch 1 Maybe Tronch 2 as well Let's see Tronch 2, I'm looking for 330 Tronch 2 is currently trading at 390 330 Tronch 1, I'd reduce it to 3 380 375 370 That's the 75-80 strike Getting close to center on that one 355 I need a little bit more decay Out of Tronch 2 Last Monday was my biggest One day winner in power hour ever And last week was my best One week profit Power hour ever Tronch 2 still hanging around 365 Now we just got to complete the trifecta And make it my best month ever Got a couple weeks 360, I need about 30 more cents out 355 Andrew Kay, if you So if you look at it from a Stop perspective Tronch 1, 2 and 3 are all about the same As far as the risk goes Because we have a tighter stop Alright, getting down there 340 Looking for 330 for Tronch 2 Got about 21 minutes till the bell There's 340 335, 330 Alright, reducing my stop on Tronch 2 My win rate per day of the week I don't know And my trader sink is actually going to be a little off From that perspective because Well, I guess, I mean the vast majority of the time The lungs expire so they settle on the next day So that's when it actually tracks it as When they settle Oh, just overall Let me see, there's been little tweaks And adjustments to how I trade power hour As well, but The other thing is I used to I used to just combine all the Tronches Into And I just used to tag them as power hour So I treated it as one trade from a statistical standpoint And then I moved to monitor Tracking each Tronch separately So let's see if I can at least give you A decent idea So here is So April was when I really started Diligently trading it Exactly like I planned That's when I started doing kind of one month at a time I'm going to trade it this way with the size All that good stuff So here's April So I had a 70% win rate in April And that was just by the day So you can see it was tagged just as power hour So that's all three Tronches And what's crazy about this is I did Over 36,000 that month Had a 70% win rate And I was doing Six contracts of Tronch 1 Three contracts of Tronch 2 And one contract of Tronch 3 Isn't that crazy? And then, okay, so that's April So that was 70% win rate If we look at May 60% win rate in May And again, that's just by day All Tronches together And then June was 57% And I was still tracking just All Tronches together July is when I Halfway through July is when I started Splitting out the Tronches And you can see my win rate that month was Almost 54% That was a Just a tiny bit of profit on the month That month And a little down move in SPX So that's July August That was the down month 55% win rate And that's between all the Tronches September September only a 49% win rate But still made over 29K that month Pretty crazy Yeah, Andrew K, I would Landon and I had this conversation I would Yeah, I would consider spreading it out because If you just kind of go through the back test What you'll see is that Sometimes Tronch 1 will struggle for a while Sometimes Tronch 2 will struggle for a while And it kind of rotates So I would say If I was you, I would probably As you start to increase your size I would start to spread that Between Tronches September Profit per Tronch So here's Tronch 1 Which also includes, let's see There's just that one day that I had the Short squeeze So the 2 to 1 ratio Which was a $9000 winner that day 60% win rate on Tronch 1 In September No, that was October Tronch 2 in September Was red 42% win rate Tronch 3 for September Was basically a scratch 45% win rate Just above our 4375 mark 13 minutes to go Yeah, I think it was August Tronch 1 struggled Kind of depends That's what I like the idea of Tronching That way you're kind of Spreading your entries Spreading your Spreading your range a little bit We could just hang out right about here That would be beautiful Tronch 2 is trading down to 280 Tronch 1 is trading down to 370 Tronch 3 is trading at $2 Tronch 3 is trading at $2 They were starting to get a little bit Further away and because My ratio for Tronch 1 is bigger I'm doing 8x16 And I already had some Puts that I sold That I was using on the Put side But you can see my calls Were way up at 4435 And 4455 So just to be safe I went ahead and just Bought some more longs 10 minutes to go First 3 indications of Market on close and balance 337 million to the sell side Final 1 It's already out But it'll pop up on my Feed In about 10 seconds 660 million to the sell side Decay You must be a paid subscriber Oh the voice is Okay My voice is delayed also My voice is never enough decay My jsp's are at 4375 So I need to stay a little Above that And to decide What if anything I want to take to the bell today Tronch 3 is 10 wide But my low strike is 4375 It's right there See where we end up here in a few minutes Tronch 1 is 70 and 75 So it's 5 wide to a little Iffy I prefer to do something 10 wide I did my jsp's Right around 1pm Central and then I added a couple About 130ish So That little consolidation and that little dip Right there Trader Pionk out at 80% And she's yelling at us for some reason She really wanted to let us know Tronch 2 is out at 80% 5 and a half minutes to go I'm going to try to get out of my jsp's At 75 cents Tronch 1 What do I want to do with you Trading up to 4 bucks now I'm going to try to get out of Tronch 1 At 380 Build at 385 on Tronch 1 Tronch 2 is trading at a buck Tronch 3 is trading at 50 cents Tronch 2 I'm going to try to get out at Tronch 3 I've got at 25 cents Currently trading at 30 I'll go ahead and lower that one To 10 cents So I'll take Tronch 3 to the bell Billing on Tronch 2 At 75 cents Tronch 3 it's up to you To go to the bell Are you going to snag my 10 cent order Pretty well centered So Tronch 1 in at 10.90 Out at 75 cents 10.15 Tronch 2 in at 5.50 Tronch 1 out at 385 sorry Tronch 1 at 10.90 Tronch 2 in at 5.50 Out at 75 So plus 5,640 on Tronch 1 Plus 7,600 on Tronch 2 Tronch 3 I got in at 2.70 3,640 on Tronch 3 Assuming it holds up But it's coming down a little bit Uh oh, spoke too soon See that's what happens when you spend your money Before you got it A little bounce, bounce above 75 Nasty red bar Not what I was looking for And Tronch 3 is going to be Oh, low markup on the clothes Nice So it looks like Tronch 3 will be about $1,700 winner So 5,640 Plus 7,600 Plus whatever that settles at $1,700 All three winners I'll take it Beautiful, alright my friends Let's see, live stream tomorrow Tomorrow is the 17th So Chad will be streaming in the morning And then we'll be back here for power Our live As always Alright all, take care, have a good night Talk to you soon