 Hey, 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 go We're here to trade, we follow the plan That's how we get paid, test and trade it Have success, find what works for you and forget the rest Stats and probabilities is what we're about Time to 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-day options, time to make bank Get locked and loaded, then be ready to plank What's up everyone, welcome to September 12th Power hour, Tuesday, September 12th Hope everyone's having a good day I still got a quiet lunch on I got stopped out of my PM iron condor For a pretty decent loss It ended up being a straddle at $4 Didn't really want to take it But following my plan, I took it anyway And it didn't get stopped out I did have this morning an AM Quick exit, it did good I had a dick case special that hit one profit target Got stopped on the rest, so I booked a small profit on that JSP's got stopped for small profit Excuse me, a small loss And got out of half my quiet lunch here And the other half needs a little bounce Getting a little sell-off here Looked like things were ripping higher And then they just fell apart Pushed right up to yesterday's close, almost to the tick And now we're at new fresh session lows So, I need to buy some longs for Tronch 1 And looks like we're going to get a Pretty low premium straddle here for Tronch 1 How'd everybody else do today? Kind of a mixed bag And pretty much, as far as zero DTEgos I'm pretty much at a scratch I got a little bit red Actually, with this last little push lower Probably a little bit red on the day now Zero DTE Down slightly, yep Dick K, flying back to Florida Looks like he had a very good day He must have gotten just slightly different than I did Because I got stopped at Looks like he hit all three profit targets I waited a little bit on mine Well, I'll show you after I get into Tronch 1 here Got about a minute Looks like it's going to be the 44.65 straddle 44.65 Straddle Going in Trying to get filled for 6.65 Filled at 6.65 for Tronch 1 Ken, your lucky day I like a good lucky mistake every now and then So, take a look at my time fly here I was really wanting to get out of this thing before CPI tomorrow But I'm going to hold it We're pretty well centered, nice range When I originally put it on, I was hoping to get it off For CPI, then we made the adjustment Which always adds a little more time Barring some unforeseen event Should be okay Put on a new duck today October 4 cycle A little bit lower than where we put it on I did not get filled on a zero DTE duck today Price kind of ran away from me I ended up getting in on the puts, but not the duck Couldn't get the premium I wanted Fiche, what did you get filled at? Well, first of all, were the shorts How wide were they? 10 points, right? 10 points apart And then what premium did you get filled on? I was trying to get at least 575 And I couldn't get filled 554, okay? I have a minimum premium of 575 on mine So, I'm bouncing around that level Let's see, I'm using the same strike as my quiet lunch So, let's bring that bad boy Over here My analyzed screen, I can see it all So, I put on a 1, 2 and a 1, 3 B and B This morning with the And I put them on with pretty good size With the intent of closing out the majority Before the end of the day Regardless of the P&L The 1, 2 is up about 450 to 500 bucks The 1, 3 is up 350 plus So, I did 12 contracts on the 1, 2 So, I'm going to close 8 of 12 And then I'm going to close 4 of 6 On the 1, 3 What I like to do on these days Where you've got an event like CPI the next days You get them on and then a lot of times You can hit a 10% profit I'm not at 10% but I'm going to At least I don't think so But I'm still going to close A chunk of those out Because that was the intent to begin with Let's see, on the 1, 2 I got in at 6 bucks It's currently trading at 6, 40 I could probably get filled at 6, 40 So, I'm going to go ahead and put in an order At 6, 60 Which would be 10% Then I'll come back and close it later today If that doesn't hit So, I'm going to close 8 of 12 on my 1, 2s SPX, new low on the day And then on my 1, 3 I got in at Currently trading at 12, 50ish I'm going to close 4 of 6 I'm going to put in an order at 12 12, 75 I'm going to come back and get that filled If that doesn't hit I just posted that in the calendar chat My quiet lunch is still intact Did not get stopped Apple releasing their new iPhone today I hear Little Apple doing She going down Down 2.5% S&P's down 27 180 Russell is flat Dow is flat on the day S&P and NASDAQ taking the brunt of it Vixx up Almost 4% Bitcoin up 4% Back above 26,000 Just can't get out of that little range, can it? We are going to need a little bounce My remaining quiet lunch Stop is at 18 Oh, jeez I forgot to reduce my stop I wonder if you got stopped out and I didn't Oh boy Alright, so I just need to exit I should have been stopped at a long time ago Alright, now I'm out Still a profit, I think I should have been stopped out At a better price than I just exited at Vixx 1D up 31% I still don't know what that means though It just starts slow and goes up every day I have not found anything useful About Vixx 1D Got about 6 minutes until Trunch 2 We're probably going to have another straddle Still within the expected move Both to the upside and the downside A few points 4 or 5 points to the upside And we're within about 4 or 5 points to the downside I hate when I forget to reduce my stop On those quiet lunches Or any of those that we Reduce stops on To kill her if you don't do it Just as far as the overall Metrics of that trade Alright, I'm going to buy some Malongs For my Trunch 2 I'm not going to buy any puts Don't need any puts Just buy a Buy a handful of calls Alright, so closest to 3 bucks Is 44.60 straddle Give it a couple minutes Thank you, Ken I appreciate that You can Anyone else, if everyone else ignores me I know, I've got Ken And I've got Wuga Waving from a boat Wuga, you need to throw that wife beater In the laundry Get a little soiled Oh, yeah, that's true Bagus Michelle got me there Alright, looks like the 44.60 Straddle for Trunch numero dose Filled at 5.95 44.60 straddle Alright, so we got the 44.65 Straddle and the 44.60 Straddle So, hey Wuga And Who else was talking about it yesterday About the Doing two straddles Versus Inverted The other thing to consider I didn't even think about mentioning yesterday But like I did today I do a different number of contracts On the different tranches So that's going to Make a difference too Yesterday we talked about If you do One straddle at the At a nearby strike It's the same as Doing inverted, which we don't like to go inverted But if you do two straddles it's the same thing We talked about If you're managing those as two separate trades Then in my mind that's A little bit different ball game And then I didn't even think about it But the position size of each Comes into play as well 16 on one And 10 on the other So that's a little bit different as well Cracking new lows Got a few dollar buffer on my trunch one stop But could use a bounce Oh got you Wuga, yeah nice Yeah I guess if you're talking about Doing it as One trade And you're just kind of hovering In between the strikes That's a little bit different than Doing a couple different tranches Like I was just mentioning Yeah for sure Elliot Not necessarily how I want to Manage power hour but yeah for sure Yeah for sure CPI tomorrow pre-market CPI tomorrow pre-market PPI on Thursday Pre-market So we won't be streaming Zero DTE tomorrow morning At the open chat we'll be doing the Chat we'll be doing his live stream But we'll be streaming for power Hour tomorrow In fact we won't be doing zero DTE live streams In the morning The rest of this week But we'll be doing power hour Minutes until trunch three Got my lungs ready to roll for trunch Three Well somebody Post a few things in the community so that Wuga's Thor's gump will scroll off my page It's making me dizzy I guess I could just lower my Height of my app There we go, thank you Elliot Some of those memes when they Every time you click on it it's going crazy Distracting me out of the corner of my eye I'm trying to place orders over here and I got Wuga waving at me frantically I see you Wuga, I see you Yeah it's all good I just Squeezed my discord app down Alright a couple minutes here So trunch three Looks like we may have a little Five point strangle 46 44, 60, 44, 55 SPX making a new low How low will she go 44, 60, 44, 55 Trunch three Strattle Oops that's not what I want Trunch three five wide 60, 55 Trying to get filled at 315 Filled at 315 for trunch Number three See if we can hold up here Got to hold Done My stops at 1065 Spreads currently trading at 875 I don't have any music but That's that's going to have to do Little Johnny to lot It's alright Looks like it could be a good choice at this point Baby bounce Little baby bounce 44, 60 is my sweet spot Can if you could lock in the 44, 60 Pin that would be great Andrew K I tested my previous idea of exiting BNB's later in the day As long as it expired to big events Averaged around 23% profit 212 and 13 Okay so you did that on Today's on this morning you held Oh wow my 6-7 is up A lot more than it was Nice I keep forgetting about that Andrew K You're going to have to remind me earlier I've been wanting to do that with partial Just to watch it But you've brought it up now Several times And it seems pretty solid And it makes sense to you Alright so my 6-7 Got in at 430 Not quite to 20% Ordered at 510 on my 6-7 Closed 12 Of 16 on that one Nice little bounce in SPX Back up to 44, 60 I'm going to close Got 16 contracts on my 6-7 So I'm going to close 12 of 16 At 510 Yeah Andrew K I'm going to make it a practice Of doing that same thing Closed part in the morning and then close half Later if the longs Are on A day like a CPI So tomorrow You've got the longs on PPI On the 1-2 So I'm going to make myself A little note To try it out now Back to back CPI and PPI May be a little different story But I'll still try it Plus on Wednesdays I don't know that's on Thursday so never mind I was going to say on a Entry on Wednesday And exit on Thursday It actually tests better to hold anyway Elliot I just got a Message from the moderator Saying I'm expecting to send spam messages With all your Dots You're just trying to help out I don't know one of the Moderators so mad at you It's poking the bear Alright we can just hover around this area Another 20 minutes Let's see I better Scope out my Entry prices here so tranche 1 665 I need to reduce my stop On tranche 1 2 I got in at 595 Call it 355 Or tranche 2 By the way I just I never I know I've seen it before But I just Kind of realized it again today For the first time in TOS If you go to activities Monitor activities and positions And use the working order drop down there It actually Gives you a column that shows What that spread is trading at Whereas if you were to go to account statement Working orders It just has the price It doesn't have the That's my Filled history but if you go to working See it just has The price that you got in at It doesn't have a column For the mark But on the activity and positions One it does and it Updates live I always use the other screen Kind of forgot About this one It's kind of nice though so like for example For tranche 1 I'm looking for 4 bucks Currently trading at 560 Oh something got filled That would be my It's one of my calendars Just 4 of 6 That was on my 1.3 Just posted that Filled at 1275 That's good My 1.2 Which is trying to close 8 of 12 At 660 Currently trading at about 650 So that one could hit as well Yeah so anyway Sounds like some of you guys are already Already using this But So it's easy For this It's even Easier than charting my Option spread because I can just look right here Whereas I was charting that To keep an eye on it So here for tranche 1 Currently trading at 530 I'm looking for 4 bucks Tranche 2 I'm looking for 355 Currently trading at 430 New little trick That I'll be Taking more advantage of I don't know why Never realized it before I guess I always thought that the columns on this version Were the same as This version But they're not I did not reduce stop on tranche 1 yet I'm looking for 4 bucks Currently trading at 480 450 460 I'll be changing it to my stop to 7 Tranche 2 Trading at 420 I'm looking for 355 About 16 minutes till the bell So tranche 1 is the 65 straddle So if we keep pushing up towards 65 That should Should get down to 4 bucks 420 405 $4 there it is Reducing my stop on tranche 1 Down to 7 Settle Settle and crawl back down Ever so slowly Back down to 4 Back down to 60 Tranche 2 I'm looking for 355 Getting close 370 360 365 Another couple of ticks out of there 360 355 Reducing my stop on tranche 2 to 555 Nice Feels good to lock in a little Going into the last 12 minutes 11 minutes to go 6 minutes to exit Yeah Frank D It's in my trade plan You can just look at my option Omega sheet Or link in the trade plan Yeah so I've started For the month of September Tranche 2 same thing If it gets to 40% of credit Received then I will Reduce it from 3 to 2 On tranche 2 Getting a little bouncy My little kid in the bouncy ball Was a little too strong maybe Settle back down 4 minutes until I exit Just funnel right on Back down to 4460 I got filled on something else here Another calendar That would be the 12 That one filled 2 minutes till I exit Start working my orders up Just a little pullback If you don't mind If you could be so gracious It's getting stronger A few seconds till I bail Out of tranche 3 at 460 Out of tranche 440 Out of tranche 2 at 445 Tranche 1 is the one I needed The continuation of the bounce So I waited till last Now that one is pulling back on me Out of tranche 1 at 305 And 310 Alright all three winners again My friends Let's see what the Final tally was In it Tranche 1 Out at 310 305 and 310 Nice winner there Tranche 2 in it 595 Tranche 3 in it 315 Oh, yeah Yeah Sorry Tranche 3 in it 315 out at 460 So that was a loser In it 595 Out at 445 Net net winner Awesome Power hour Came to play in September my friends Had to take a little pause in August But It's been a good September so far Good good good Alright my friends have a good evening Take care We'll be back again for power hour tomorrow Cheers have a good one