 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 Let's go gamble, 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 a dismiss Greed and doubt, focus on the process Not the money and the profits We'll 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 play What's up everyone, welcome to Power Hour Live On a Thursday, September 14th Got ourselves a little short squeeze on our hands My friends, a little short squeezy Meaning, SPX is up over half percent from the open Looks like somebody's trying to share their video I'm going to take that away Let's see, oh you're right I forgot we gapped up, my bad Got everybody all excited I was all ready to do my short squeeze I wasn't even paying attention from the open I was thinking from yesterday's close Not quite there I'm at point four six I'll be doing my standard one to one I'm going to go ahead and buy some longs Feels like a short squeeze day though, doesn't it? I did do some discretionary Sold some discretionary puts a little bit ago I already got out of half of those At fifty percent But just a little discretionary trade Also took a discretionary rick Thanks to Vegas Michelle and Theta Junkie That hit thirty percent So that's been nice VIX is down another four percent today Under thirteen Yuck Yucky So if you look at our premiums for Tronche One We've got four bucks on the calls And about two fifty on the puts We do the forty five oh five straddle A couple minutes before I enter I got you Uga I'm picking up what you're putting down my friend Kelvin she posted it In this channel or zero DTE I'm sure if you scroll up a little bit you'll see it It's just specific to Thursday Theta Junkie posted one as well Slightly different Did my standard strikes I think any rick you would have done Actually it was done After we already had a little bit of a down move So that even helped even more on that push higher It's a little bit later entry Nine forty five nine fifty five So my rick has a filter of VIX under fourteen I don't take it I jumped on those Of Vegas Michelle and Theta Junkie Alright so looks like the forty five oh five Straddle or the Yeah forty five oh five is the closest Tronche One straddle Six thirty Filled at six thirty Those are Tronche Two type premiums So I added a new NDX calendar today Pretty much at the money when I put it on it's pushed up a little higher I'll add another calendar if it were to get up to the Upper break even If not I'll close it out at ten to twenty percent profit Opted to go with that one today as opposed to a new TGIF I mentioned a couple weeks ago in my weekly update that These single calendars have just been doing really well TGIFs have not been doing well So I'll still continue to trade TGIFs But I just made an emphasis that I'm going to trade more of these So I opted to enter this one today Turn it into a double if it If it needs to be turned into a double So for my little Discretionary just sell puts Got out of I did four got out of two of the four fifty percent I've got the Remaining to close at fifty cents Currently trading a little over two bucks So if we get another little pop up Those may hit Other than that my friends it's a Thursday you know Didn't do any grocery shopping but trade wise Not a whole lot going on Actually that MES short strangle When did we put that on We may be able to take that one off early for thirty percent Let's see forty eight fifty That's the one we put on nine five Forty eight fifty forty one twenty five Yeah Nine five Yeah Let's just go ahead and take that one off for a quick thirty percent So that's the for those following along that's the one with seventy seven DTE The thing for ten days thirty percent And get filled with twenty seven About twenty seven twenty five I'm wanting to fill there either Give it a minute Let's see how we may need to Get close to needing to roll up our puts But it's still fairly centered here Let's see we got in our puts at one oh four Only trading at fifty yes not quite a fifty percent So I'm just going to hold that one About twenty seven fifty Still holding the one with ninety two DTE Alright just posted that in the option selling trades Another little push up forty five ten New highs on the day and SPX So we're getting close to point five percent We're at point four eight I only do the short squeeze play on trunch one so I'll still be doing one to one on my trunch two and three Our puts are now trading for a little over a buck Apparently the market likes the PPI report this morning Already was up a little bit and it's just been pushing higher and higher All day very little pullbacks You did a two to one Elliott it's been a while since I looked at Quad witching but from what I remember Yeah it was not it was a non event No definitely did not Determine me from trading power hour tomorrow is the day You know keep in mind ever since they You know monthly expiration used to be a big deal But it's just not anymore You've got options to expire every day And guys I got to take this quick call I'm going to put it on mute Alright sorry about that Alright SPX still pushing about eight minutes until trunch two So the move is at point five three percent from the open now So for those doing the short squeeze variation For trunch two that would set up as of now My stop for trunch one is at ten thirty and my spreads trading at eight ninety Thank you Gary nine have you found have you done much testing with those S&P up almost one percent Nasdaq's up one percent Russell's up one and a half percent Dow up one point one percent So is that that's that's for Thursday right so that'd be like today Day before gotcha And getting a little pause my trunch one's back down to about seven eighty About five minutes till trunch two go ahead and buy some longs for trunch two Man if we hold here it looks like it'll be the forty five ten straddle for trunch two My puts are down to eighty five cents trying to get trying to buy them back for fifty No discount that was a discretionary just I just sold some puts earlier Yeah, we'll we'll discretionary JSP Looking like the forty five ten straddle for trunch two Give it about thirty more seconds trunch two forty five ten straddle I get filled at five twenty filled at five twenty All right got the forty five oh five is now the forty five tens Bigger size on the forty five tens No power hour for Wuga no power hour for Ryan P Only trunch three for Kelvin You guys are so picky these days Picky picky picky I'm just kidding Being selective is not a bad thing Thursday's making a comeback You guys are all going to change your mind about Thursdays You're going to start hating Wednesdays and loving Thursdays Just just watch It's Elliott when that when power hour gets near I need my power hour I need my hit I ain't getting a tiny little pullback Kind of want to sell some more puts here Dick K what's B web telling you can I sell puts here We got to be at a Fibonacci retracement right now Just got we got to be I'm selling some more puts Just a little discretionary JSP You just got short yes Dick K See that's the forty five oh five Is that a real trade Dick K are you just trying to fade me Alright few minutes till trunch three Find some longs for trunch three Looks like we're probably going to get a little straddle For trunch three as well So back in June Vicks hit twelve point seven three We are at thirteen flat right now Got down to twelve ninety three today Thursdays are for bingo huh See for me for my real stats Well let's go back to April because that's That's when I really started trading power hour The way I am now and so here's my real trades So this is trunch one trunch two trunch three I used to classify him just as all one power hour Before July Day of week So Monday is slightly red Actually you know what Well the long settle the next day so this is So yeah Thursday would be just slightly green Up about twenty eight hundred bucks since April Friday which settle on Saturday is my best day I think Monday is kind of a I think that's kind of a nothing Because they settle on Tuesday so Tuesday Wednesday No Monday yeah Monday Tuesday Wednesday Are about the same Thursday yeah Thursday is the definitely the Worst since April Friday is the best and I'm yapping and forgot about trunch three All right So the forty five ten forty five oh five Trunch three five wide Filled at two fifty I got forty five ten forty five oh five We'll pull back back down to forty five oh six Expected move from the beginning of the day Ooh Vikings Eagles Who do you got cream All right so trunch one I got in at Six thirty so three eighties What I'm looking for in trunch one to reduce my stop Trunch two I got in at five twenty I'll at three ten So trunch one is currently trading at four fifty I need three eighty Trunch two is currently trading at six forty I need three ten I'm gonna need a little bounce Huge slippage on yesterday's quiet lunch I don't know It's a long time ago Asked me what I did yesterday that's You're asking a lot Kylio You're asking a lot Yeah I just I'm not sure I don't remember I don't remember seeing big slippage I usually remember that if I did but I I may not have I may not have noticed either Is that a That was a ratio I assume was it Three two four three Yeah I've had that happen as well We're still moving down here Trunch two is close to getting stopped My stops at eight twenty Spreads at seven ninety So if we don't bounce here Trunch two will get stopped Mine's fixed and still hanging on by a thread But I'm gonna need to bounce here Little bounce staying alive For the moment Trunch one is close to getting My stop reduced I'm looking for three eighty In which case I would reduce my stop to six eighty If we get a little more bounce Should hit it Down to four fifteen Four twenty Four ten Four oh five Four dollars About twenty more cents To park here at forty four Forty five oh five for another minute Nice dick hey Little Scalpy Scout Still have her in round four bucks I need to I need to see three eighty To reduce my stop Oh interesting Trader AL I've never looked at it like that Three eighty there it is Reducing my stop on Trunch one to six eighty On top of the mountain I use a fixed stop For all my tranches and then For Trunch one and two I ratchet it down at forty percent This is what I just did for Trunch one For Trunch two it's currently trading at five eighty I need three eighty On that one so I'm going to need A bounce back up towards Forty five ten for that one to come down And when I when I ratchet it down It stays fixed too It doesn't start trailing at that point If that was your question Twenty minutes till the bell I'm looking for more like a forty five oh eight pin So my So my indications are Trunch two down to four sixty I'm looking for three eighty I need to step away For just a minute Up to forty five oh six Still around forty five oh five Eleven minutes till the bell Seven million to the Cell side is the early indication For market on close and balance Which is nothing Financial juice is what I'm looking at I just have the free version Financial juice Financial juice dot com Getting a little tiny bounce here Yeah I haven't decided if it's useful at all Or not but It's been kind of watching it We're getting a little bounce How would I explain it? I'm not sure what you mean Like it just Like the market just liked what happened with the PPI number I guess Or just a Just a grind up day Like the media always wants a reason but I don't think that there's always a reason you know Just the market Be in the market I mean You notice that a lot after We had CPI then PPI a lot of times After After the news is out that people have been waiting For you just kind of get a drift higher You know all the uncertainties away For the short term that's the way I look at it Ken's trying to get me to bite on the fib Come in I'm not biting Alright two minutes till I exit Trunch three I'm gonna put in an order of eighty cents We get a bounce Trunch two I'm gonna put in four bucks for now Come back to that Trunch one which is sitting at its strike I'm trying to get out of that one first Let's do two fifty Okay a little down move Build it two fifty five On trunch one So that one was a nice winner Trunch two Don't run away from me Trunch three out of the bucks Seventy five Trunch two is gonna be a loser Trunch two out of six sixty So trunch one In at six thirty Out at two fifty five Nice winner there Trunch two in at five twenty Out at six sixty so about a buck Forty loser on trunch two And then trunch three In at two fifty In at a buck seventy five so winner on that one So net net Small winner take it I'll take it for a Thursday Alright my friends tomorrow's Friday No live stream in the morning but we'll be back For Power Hour tomorrow Everybody have a good evening Take care chat with you soon