 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 We follow the plan, that's how 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 More trade hackers, get ready to go Zero day options, time to make bank Get locked and loaded, then be ready to play What's up everyone, welcome to Power Hour Live Tuesday, Halloween, October 31st Hope all is well So Zero DTE land, what did I do today? I took a rick this morning And Rick is trying to push to its profit target My profit target is currently set at 1885 And it's currently at about 16 plus So I need another little push higher for that one to hit I also did a quiet lunch, hit my first profit target on that one And then got stopped out for profit on the second portion Then I took a PM iron condor Just before I jumped on here, closed out half of that Letting the other half ride We are, current move is 0.42% It feels like a short squeeze day But not quite there, so I'll be going one to one So I'm gonna buy some longs for Tronch 1 Yep, looking like our old buddy that straddles back in town Even with VIX at 18 Big contraction today, VIX down over 8.5% Look at the short term IV rank indicator Just on 10.20, so 11 days ago It was pushing 100 IV percentile, now it's pushing 0 So that's basically the price of the options Compared to where they were Just a short time ago So it looks like the 41.90s as of now Give it another minute Now I'm gonna hold my VXX I already took half off at 50% So I'm gonna let this last half ride Through FOMC Most likely scenario would be Get another big ball contraction after FOMC So I'm gonna hold on 41.90s Here we come One straddle Trying to get filled at 8 even Filled at 7.90 41.90s So let's see what else we got going on I've got my SPX put calendar That I added a vertical to It's kind of coming back into range of the calendar I'm just gonna hold that for now Also got a TGIF It's hanging out a little bit above the call strike Added a 1.2 and a 1.3 today Those are both down a bit I've got a 6.7 that's also down 1.2 and the 1.3 will come off tomorrow morning I was hoping I'd be able to take some of those off Before the end of the day but it doesn't look like it The VXX VXX is down over 5.5% Currently at about 40-ish 40 plus percent of max profit on those remaining 10 Oil's getting a little contraction ES and GC Hedgehogs are doing good We're over 30% now on this MES How long have I had that on? Once come in since I looked at it earlier today Now I've only had that on since the 25th So I'll probably book that one In fact, I'm gonna go ahead and put my order in at 31.75 See if we get filled here shortly Yep, Microsoft and AMD Report after the bell ZN's getting close to 30% quickly as well Oh, it's there Wow, these have come in in the last couple hours Real nicely I wonder if I had that ZN on I guess more than two weeks Let me take that off too though 20 20 on ZN UQQ I need 5.28 or less for that one to hit profit target Wow That one came in too Alright, I guess I'm gonna shed some short premium here boys and girls I just looked at these a couple hours ago They weren't that close Added a diagonal to our time fly So I'll let those orders sit for a bit And I just realized I haven't reduced my stop on my PM Speed reduced from 12 to 8 SPX Pushing new highs of day Elliott on the PutCal on those single I usually go with 10 to 20% profit And then if it pushes to one of the break You know, one of the break evens On either side I make the adjustment I got filled on my QQQ That posted right quick PT stop reduction For power hour is based on The current price That's how the back test does it and that's how I do it And now we are in short squeeze territory But Already got trying to one on I've been buying some futures all day So those are doing good In fact, I'm gonna shed some of those I was just doing micros today MES Just using a NTT Just straight buying the futures Sometimes I just feel like doing a little Futures directional day trading Pushing right up against the Upper expected move for the day So PT I got into trunch one at 790 so 60% That would be 475 So if trunch one gets down to 475 Then I will reduce my stop to 475 I think Rick should be hitting pretty soon here Target to 1885 Is currently trading at 1830 So another little push up We'll hit it Trunch one trading up to 860 Stops at 1190 About 9 minutes until trunch number 2 What else is going on? Did you guys do good today in the morning Afternoon trades? Nice! Gotcha Quanteo Today I ran some back tests on the AM Iron Condor Monday 3-2 The results very interesting If you enter between 932 and 934 It's got its best results Every minute later Counts of winners shrink Is this obviously your experience? Yeah, for sure Because what happens is on Mondays Over the weekend They pump up volatility Options So Monday is Typically the most profitable Most consistent day Of selling those AM Iron Condors And so the earlier you get into better Getting a little pullback here That's right, Monday Monday So you'll notice in my trade plan If you've seen my November trade plan You'll see I increased my size For Mondays On those AM I've got a coaching lesson After the bell today with Mr. Jared Tindler Author of the mental game of trading Yeah, the PM Iron Condors Kelvin have been just okay Yep, first one So I signed up for a Three session package To start And I'm going to Record them all And share them with you To see everything Because most of his Students Most of his students are Very Want to keep everything very confidential All that kind of stuff When I propose to him Hey, I want to I want to do this And I want to just be able to share it With my community Everything we talk about And he kind of paused and he was like You want to share everything And I said, yep Account numbers Not account numbers, but account sizes Everything He's like Okay And I said I do not I don't want you to treat me any different I want you to treat me just like a normal student I said if you make me cry on camera So be it Full frontal Okay I'm excited I'm hoping He uncovers stuff that I'm just Not even aware of It's easy to see what other people are doing wrong Or Things that they can do better But It's hard to see those things about yourself So I'm hoping it Uncovers Some things that I'm not really aware of For myself It's called the mental game of trading Jared Tindler Going to buy some longs for Trunch 2 Looking like the 95 Strattle For Trunch 2 Personally Mark Douglas is still my favorite As far as the trading in the zone But His books are really good I know multiple people have said They put it up there with trading in the zone It's definitely It's definitely up there You know what? I didn't ask him about that I don't know if he actually Trades much himself I would assume he doesn't I think he's pretty busy Actively doing his coaching But he coaches poker players and golfers too Trunch 2 Strattle 95's Trying to get filled at 625 Filled at 625 on the 95's He's a cooking coach He's going to teach me how to cook He's a mental Let's see some of my other Orders on these strangles have not Hit yet ZN, there we go ZN, ZN Go ahead and get this filled before Trunch 3 Now we need to reload, now we need a ball spike A lot of different things All of those have been posted in the Trunch 2 channel Trunch 2 strikes was the 41-95 Strattle Risk graph isn't off I would assume Kelvin is just when you get 2 straddles It's almost like It's almost like being inverted Trunch 2, I got filled at 625 375 That's what I'm looking for to reduce my Stop Remember we're back in straddle land So it's going to take quite a while Trunch 2 stops Trunch 2 is trading at 550 Trunch 1 is trading at 685 It's got a hot mic I'll take care of that 5 minutes until Trunch 3 Rick is getting close It's touching the order And it pulled back, so now it's not I got out of one of my 5 My PM iron condor Is trading at 11 My profit target is at 475 Trunch 1 To hit 80% Find some longs for Trunch 3 Tomorrow your daylight savings Is only for a week And then the time changes back I've traded on the west coast I do kind of like it You got to get up early, but then You're done by 1 o'clock So as of right now, it looks like we might Get a 5 wide For Trunch 3 Let me get a little pullback Trunch 3 5 wide Trying to get 370 No takers It ran away You guys are taking my orders, aren't you? Build at 345 95 and 90s Is it 395 and it dropped to 340 Within 3 seconds My peeps are front running me Trunch 1 is down to 550 I need 475 Trunch 2 is at 620 I need 375 to reduce my stops Rick was so close To hitting Didn't quite get there For the little pullback Or is it 1885 It's currently trading at 1835 1850-ish 1860 Just another little push For Rick Just doesn't quite want to hit it yet Yet Yeah, I'm going to let my 1-2s And 3-1-3s ride Sometimes before a big event Like FOMC Sometimes you'll be able to get a quick 10% same day But not happening So I'm just going to let them go Just waiting, Rick. I've already got my meme picked out Just waiting for you to fill Just need 1885 30 cents away My TGIF is a little above the call strike Currently It's up a little bit LaSosa, if you let SPX Options expire You'll know the settlement price Within a couple minutes after the market closes But they don't technically Settle until overnight Rick's not ready. He's just not ready You can't force, Rick You got to let You got to let Rick do his thing Rick doesn't answer in anybody Tronch 1 trading at 530 Getting close Tronch 2 at 630 Anywhere between 90 and 95 Is good for power hour 90% is not really A profit target for me It's more just I put In my OCO order With my stop As it gets down to the end of the day If I want to close it out before the bell I can just easily adjust it But yeah, my OCO order Is going at 90% Getting a little pullback off the top Reached a high today Of 9,525 4195.46 Currently at 4190 Thank you are all aware by now But tomorrow is a big day Pre-market ADP non-farm employment 30 minutes after the market opens ISM manufacturing In jolts 1pm central Is the FOMC Fundrate data release And then 30 minutes later The FOMC press conference As far as the live stream goes So Chad will be streaming in the morning For the mighty 90 runner strategies We will not be streaming for power hour But we will be streaming at 1245 Central For the FOMC These are the two FOMC Trades I will be doing So the FOMC iron condor Put that on Just before the data is released Look to get a little bit of a Volatility crash without too much Price movement And then close it 30 minutes later Before the press conference And then as soon as the press conference starts Put on a long strangle Or you could do like a rick I like the 30 delta Long strangle Let Jerome say something stupid And watch it move Franch 1 still at 530 Franch 2 at 680 Yeah I can do that trading naked Yeah I should call that the Jerome Stupid Lips Trade I'm gonna get a little pullback here Still a nice profit But Need to hold up above 4190 Above 4190 is good for power hour as well No definitely wouldn't be Doing an AM iron condor Problem is You'll put it on in the morning And usually you get 0 decay Until the data is released So you're taking the risk Without any of the reward If you've never traded Zero DTE on the morning of FOMC Just put one on With a theoretical position and watch it Typically you get very little decay Our 1-2 and our 1-3 Just turn green Barely With this little down move Yeah Trunch 2 is getting a little A little close to the stop Currently trading at 8 bucks My stop's at 9.25 Need a little bounce here Need a little bounce here Trunch 2 still hanging on By a thread But I'm gonna need a bounce Much more downward Much more downside and I'll get stopped Little bounce, there you go little buddy you got it Show me some green Show me a little green Ooh that was close Escaped for now Let's get back above 4190 Trunch 1 down to 510 I'm looking for 475 and Trunch 1 to reduce my stop There you go, there's 4190 Feels so much better up here 485 480 Getting close, there's 475 Reducing my stop on Trunch 1 Rick is trading back down to Below 17 Everybody needs a little bounce here My PM iron condor will hit 80% If it gets to 475 It's trading at 685 It actually likes it down here Trunch 2, look at that back down to 580 Still need 375 Before I reduce my stop on that one Escaped that little stop out By the skin of my teeth Hey Bumblebee, everybody does it a little bit differently But if you check the trade plans And then You'll see the Option omega back test link And so I traded exactly like the back test So it's not a percentage It's a fixed amount First 3 indications For the market on close and balance 629 million sell side The final one will come out in 5 minutes You are welcome Coming back down Stay back up there Stay back above 4190 13 minutes to go There's 4190 again Trunch 2 down to 5 and a half Trunch 1 is at 440 Trunch 3 is at 245 Rick is back above 18 Looking for 1885 Dark Avenger Doesn't have to be your last question my friend That's what we're here for My plan is to My plan is to Close the 677 On Wednesday AM anyway So I will be closing it tomorrow morning Rick Here it goes Rick There's the one I wanted to go with Oh here we go Got to love Rick Trunch 2 down to 430 I'm looking for 375 to reduce my stop Back up to 4192 Bounce About 50 more cents or so To come out of Trunch 2 to reduce stop 9 minutes to go Final market on close and balance 821 million buy side So it flipped So that may have had something to do with the little bounce Trunch 2 is the 95 So it's down to 390 Oh it's getting there 390 I need 375 I will not be taking my straddles to the bell I will be closing them out Mirage got filled on some contracts at 375 for Trunch 2 Is that a Is there a question in there? Oh I see you're saying it did get down to 375 Well Oh got out of my 390% on my PM iron condor I got your mirage I did not see it so my rule is if I don't see it I don't reduce Was that on the 4195 straddle? I'm not saying I don't believe you because it was getting close But I'm going to hold for now We're at 6 minutes to the bell Around 4190 I'm going to set Trunch 1 Close at There it is, I saw it that time Reducing my stop on Trunch number 2 Trunch number 3 is 9095 So Trunch 3 Could take that one to the bell I'm going to get to 95 I was trying to get to my Trunch Trunch 2 strike Trunch 2 I'm going to set it to Wow About 210 Trunch 1 what do I want to do with Trunch 1 I got hit Hit 210 On 15 of my 16 Trunch 1 is all the way up to 6 bucks now Now I need a little pullback Out of Trunch 2 at 210 Trying to get to new highs of day Here friends Trunch 1 at 5 bucks So close to getting filled at 2 something Trunch 3 is trading at A buck 30 Filled at 5 bucks on Trunch 1 So I got in at 790 Out at 5 so still made a few bucks So I've got Trunch 3 left 2 minutes to go My order is at 30 cents I don't need another push higher That's what I don't need I need to stay under 95 1 minute to go Just poked its head above 95 It's kind of settling We stay under 9 oh back above 95 Back below 95 There we go Settle in there Just settle Right in There we go 3, 2, 1 Pin Alright so 4800 Winner on Trunch 3 Trunch 1 was about a 3000 Winner Trunch 2 What did Trunch 2 end up being Got in at 625 Out at 210 So What's that about We'll lower 6500 On Trunch 2 Nice And you guys were scared of the straddle Shame on you Nice all 3 winners 2 straddles 1, 5 wide Doesn't matter power hour strikes again Alright my friends so We'll be streaming in the morning And then We'll be streaming for Only stream for 0DTE Is the FOMC stream at 1245 Central Take care, have a good night Chat with you soon