 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 Ay, ay, let's go 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 Ay Hey everyone, welcome to Power Hour Live Tuesday, November 28th Hope everybody's having a good day I mean, if that song doesn't get you fired up For $5 straddles, I don't know what will So, yeah, I'm gonna skip Trunch One I'll take a look at Trunch Two and Three I may still trade those, but $5 straddle is not for me For Trunch One So, I do have a PM Iron Condor That is working Which is Right here In fact, I need to reduce my stop on that one Six I'm good to go there, I've got a 50% Profit target on that Yes, that is correct, the PM Iron Condor was inverted So we had a little flush We had a rip-roaring rally to start the day Got up to a high of Half percent above the open And then the bond auction took over Actually, the bond auction wasn't until Right here, but we were already kind of coming down before that Little flush, I saw somebody else got smoked on a quiet lunch I did as well Part of that was my fault Because I was actually in the process of going in And reducing my stop manually and trade steward And then it flushed me out, so I didn't even get my stop reduced And I don't know what kind of slippage necessarily I had Because the stop rests at On the trade steward platform, not on toss So it just shows up as a market order in In toss, but my max risk With my initial stop loss on that trade is about 7000 And I got smoked for almost 10k on that one So that didn't feel good Had a couple of little re-entries that got stopped out DKS had some re-entries that hit profit DKS hit first profit target Got stopped out for a small loss on the other one So net net, that was a winner But let's see, I'm down about 8k I made 15k yesterday, gave 8 of it back today So that's no good Yep, yeah, the bond auction So for power hour, I'm just For trunch one, I'm not even going to trade a one lot I just, I can't do it It's just not even worth it Yeah, I'm not going to go inverted I mean, when you're looking at the money straddle Of a little over 5 bucks, I'm just, I have no interest No interest I'll just keep riding my PM iron condor for now And then I may, we'll see what trunch two and three looks like I mean, look at this, 55 straddle for under 5 bucks Or write it, yeah, under 5 dollars That's ridiculous There's just no edge there Not with the current stop loss and everything Risk reward, just way off, not worth it Did add a new time fly today? D's 22 cycle So hopefully eventually we get some two-sided action In the market, also sold some premium in gold If you look at the, gold's been pushing higher If you look at GLD, you can see the implied volatility On the one month indicator is at 100 percentile Ivy percentile on that Annual is at 78, so getting some high implied volatility in gold So sold a little premium, closed out our short strangle in oil We've got OPEC Thursday morning Booked over 25% in just in less than a couple of weeks on that one So just went ahead and took that off Got a hedgehog in ES that tomorrow will be 7DTE We're right at break even Risk graph shows down a couple hundred But we're actually pretty close to even on that one Also entered a single put calendar Put it on a little bit below price Price has come down since then, so now it's pretty centered Also entered a 1, 2 DTE down a little bit on that one Got our 5, 7 That I can either close near the end of day today Or tomorrow That one's up a couple hundred Let me close that by the end of the day We'll see where it's at Anybody taking trunch one Rich is in for trunch one Elliott's in for a four-bagger With 30 minutes early, gotcha So do you go in at a straddle, Elliott? Or still inverted So that would have been probably what the 50 straddle We pushed above today's expected move Got right up to it You can see the max move higher was exactly a half percent Looked like we might be getting into short squeeze territory And then just fell apart I did do some futures trading today I ended up netting about 1,200 And actually technically, I mean just on my trades today It was over 2,000 I had a soybean trade on yesterday And I completely forgot about the grains, close it 1,15 or whatever it is, 1,15, 1,20 And so overnight Once I realized that I was down 1,100 bucks So net and net, booked about 1,200 But I, on my actual trades today Made 600 on the E, 6E on the Euro 300 on MES, 600 on Silver And 765 on Notes Just trading price action 3 entries So got into my first one Which is at 935 835 my time So 5 minutes after the market opens Both of those got stopped out And their trailing stopped So a couple small losses there Then once, so those got stopped out at I wish it had the time on here Let's see, that was the 5035 Let me see, so that would have been So there's my entry 5035, yeah, so we got out there So then turned around and got back in at 47, yeah Yeah, so 2 minutes, I just have it set So takes a break for 2 minutes And then it re-enters Book profits on both of those One was for, hit my 50% profit target One was, hit my stop But it was trailing, so it stopped out for profit And then turned around And got in at 1232 And 102, because it's trading the bottom Treats both of those separately So that one got smoked out in the bond auction flush For minus 3000, that one Plus 605 Oh, and then I just After the bond auction, I just When it re-entered I let it chop around for, and I just closed them out I was just kind of, I was done, I didn't want to I didn't want to mess with that price action So I just closed those out And then I'm in my PM iron condor right now This is my only auto trade on So that's, so If you look at the back test, I mean It trades, I mean Really more Really usually not more than three But with the, with the bot Because they're Technically two separate things It'll I do like a half position on each of the bots And so it's kind of It's kind of like two half positions Rotating in and out No, I have an odd crush Yeah, this whole bond auction thing Volatility around the bond auctions is a new Little bit of a new phenomenon So I've got a note to Start keeping a closer eye on those I did not, I was not aware of this one today Yeah, it's on the financial juice Calendar as well I just wasn't even thinking about it SPX tried to pop up above Where it hit on a Day before Thanksgiving and then Retreated back down Hopefully it's putting it in the top That'd be something Well my five seven was rocking earlier When the market was going up Which is interesting Let's see, that's 45, 20, 45, 90 Let's see, I got into this one at 905 Yeah, so when the market was going up That one was doing good Let's kind of come back Into a little bit of the sag Let me keep that one till tomorrow See if it wants to push out of the valley So far during power hour Chop in between 50 and 55 Yeah, 230, 30 minutes before the market closes FOMC member Barr is speaking Due to participate in a fireside chat About the Community Reinvestment Act Had an online event hosted by Opportunity Finance Network Another fireside chat You know how we love those Alright, few minutes until trunch two Yeah, I can't do that You can go inverted Or you can get 60, 470 Yeah, just not interested in that Getting $4.20 on a straddle Them, theirs, trunch three types Premiums, Elliott Why am I adverse Why am I adverse to ratio On pH? Not sure I understand your question there You might want to translate that one for me, Krish Ratio TARD? I'm not familiar with the old ratio TARD I haven't found that it tests Better I feel like a TARD hacker with these premiums I can't say TARD anymore Gosh, what's this world coming to? Alright, so $4.20 Who's going in for $4.20 on trunch two? That's good, Ken, that's good I like it And if there's anyone here who has children With a mental illness, this is not against them This is The word retard The definition is slow learner So if I call Krish a retard Has nothing to do with real mental illness So don't send me any emails or DMs Well, if you got thin skin, you're probably not going to make it with this group So, sorry about that Look at this, prices at $45.50 We're talking about $3.80 Right here at trunch two No bueno Yeah, well, tomorrow that's what happens When we have nothing to do We start talking about shit like that Give me some volatility We'll get back to politically correct Speeches I mean, you know, I was searching high I found gold That had high implied volatility I fell out of my seat when I saw that It's like, holy moly, there's some premium to sell I didn't know what to do with myself Oh, tomorrow I was thinking about you the other day Yesterday No, Sunday Sunday night Did you happen to catch this recent 60 minutes episode? There was a segment One of the segments was on climbing And it's this group That does this climbing In Austria So I figured you'd been there And it's a group that basically Gets people who have some have had some type of like Trauma Like they had a group of people who's You know, spouses or somebody who had died In the Ukraine war So they're like Ukrainian spouses and kids And they take them on these Climbing trips And they're just I guess they're seeing some pretty Pretty awesome results just in helping people You know, get over Some of their grief a little bit By kind of, you know Doing something that's extraordinarily hard That they wouldn't normally do Um No, no, not a dream Maro I haven't had a dream I haven't had you in my dreams yet Yeah, these were complete I mean, these were kids and These were complete rookies But there was a There was like a, I don't know if you There's like a wall Like a huge dam wall That they had set up for Kind of like mountain climbing training You know, they put the Little hand and feet Deals, whatever you call them Obviously I'm not a climber Holds, yes, thank you Anyway, it's kind of a cool episode Um If you can find it I mean, you'd probably laugh at the people Doing it, but The reality is it's a It sounds like it's a program That's doing a lot of good for people You know, meet the hand and foot deals You know what I'm talking about All right, Bumblebee's got a real trading question Steve, regarding the GC strangle I could not find the same premium on Tasty As you did on TOS So the different brokers Always they They display the option expiration cycles differently So whereas if you were looking at my Pasted trade You know, in TOS they say March Uh, in Tasty I think they call it February Or April maybe, anyway But I always put the DTE At least I think I did Let me make sure 90 DTE, yeah So if you go to the 90 DTE In Tasty, don't pay attention to the Displayed month of that cycle Go to the DTE that I mentioned And it should be Should be right Yeah, Dark Vendor said he just got filled at 1870 All right, a few minutes till Tronche 3 Can we get somewhere close to 4 bucks? Is that going to be, is that a thing anymore? Good yesterday Not too shabby No, no, no chance of a strangle but And we're getting a little fleshy A little fleshy My PMI and Condor didn't want to fleshy Yeah, I'm just going to stay out I'm going to stay out of all Tronches You know the last time, well I guess a couple weeks ago I stayed out of Power Hour Because I had a meeting and I couldn't do it But the last time I was in front of my computer And I stayed out of Power Hour I don't remember the last time Maybe March of last year March of this year February maybe Just doesn't feel right Doesn't feel right I need a few point bounce White Tiger So what I'm gathering This is kind of rare occurrence Where Vix is so low Makes it hard to sell options How do you think this stretch will last? Yeah, so I mean everyday Everyday expirations have not Have only been available since May of last year And this is never, we've never seen this Since that period I don't know if you were on here yesterday But I was talking about 2017 And in 2017 I don't remember exactly what I was doing When there was Friday options I remember doing a little bit of zero DTE Monday was a Friday dabbling a little bit But this is 2017 I mean you had periods Where the market just didn't move at all I mean these are 10, 20 point ranges Over the course of a month I mean that was brutal There was no premium to sell There was literally nothing to do So it would have these periods It would grind higher It would grind sideways It would grind higher, grind sideways And especially towards the end of the year I mean it was literally just a Grind higher Finally in the beginning of 2018 Things got shaken up a little bit But during that same period If you look at the Vix Vix got down to 8.5 We're at 12.5 right now And it's terrible So could it get worse? Yeah, yeah it could Now there's a big difference here At that point in 2017 The S&P was at 2,500 Now it's at 4,500 So the product, the symbol is Higher priced But you know I mean premiums could Get lower and they could Stay lower for a while You never know And we had And there we had some very little spikes And we went from 8 to 14.5 Back down to 8.5 14 Back down to 9 I mean it was abysmal So you know Who knows I mean we could see Extended Low volatility But not forever Something will shake it up You never know These soft landing they keep talking about It will be a hard, really hard landing Goodnight Eves Yeah there's always going to be something Something will shake it up LA you still in or did you get smoked out? You got in 30 minutes before I assume you're in the 50s so you might be okay The old fed beige book Tomorrow's Wednesday so we got preliminary GDP pre-market Beige book at 1pm central Thursday all day OPEC meeting Pre-market core PCE price index And unemployment claims Powell is on the calendar twice now He got added to another speech on Friday Speaks at 10am and 1pm So the 10am is due to participate In a fireside chat Tiled navigating pathways To economic mobility at Spellman College That's what I thought I read before The 1pm Due to participate in a round table discussion At Spellman College in Atlanta So we got a fireside chat In a round table discussion With Jerome On Friday So it looks like Tronch 1 You got in right at the top so you probably Would have got smoked out of Tronch 1 Chris did you say you got stopped out? Oh yeah you did Be more trader Do you ever change from a normal day To an up day or down day after starting power hour If the move is sitting right at the threshold Yeah so the way that I have my The way that I have my bot set up for that is So for the normal day If we are Down 0.59% Up to 0.49% It would trigger the normal day And if it's down 0.6% To 1.2 lower That would be the down day 0.5% higher That would be the up day So I did have it just 0.6 and 0.5 And then somebody pointed it out to me that Hey it could trigger both If it's right on the bubble So I went 2 decimal points out To differentiate those Yeah so well so I have that I have that for Tronch 1 Tronch 2 and Tronch 3 So I have 9 different bots Tronch 1, 2 and 3 Up day, down day, normal day So whatever, wherever it's at At the time of entry On that particular tronch is the one that it would do Because that's what the back test is doing Right it's based on the entry time Good question Alright it's still 27 minutes to go My PM iron condor could use a little Few point bounce Oh that's cool I like the little color coding Nice Yeah I appreciate you sharing that's cool That my friends is the reason we got to all Create our own deal Is the way that I look at You know I like the way that I have My spreadsheet setup because I set it up And that's the way my brain works Whereas You know you looking at mine You know kind of confusing And you know trying to figure things out Part you know part of the reason obviously Is because I put it together Step by step and it's evolved Over the months So that's obviously part of it But yeah that's awesome You all got to do things that kind of Make the most sense to us So if you're by the way if you're new here And you haven't jumped into the trade plans Channel And checked out some of the awesome trade plans That other folks in this community have Presented It's pretty awesome I implemented At least one thing from every single one of Those trade plan presentations And by the way as You all evolve If there's anybody who Wants to Present how they're trading Once you've been doing it for a while And it doesn't mean you have to Be Successful yet either Just has to do with if you think You're doing something that would Provide value to anyone else I mean it could be you know You could be fairly new But if you have a different way of doing things That you've been doing That you think would provide value for anyone Feel free to reach out to me We'd love to That's what this community is about Just sharing ideas Helping each other get better Trading strategy, a process, whatever it might be Yeah And that's Okay to be more I mean there's been plenty of Successful trading going on before Option Omega was around Right I mean People didn't just become successful Once the back testing Once the back tester was here So it's I mean it's for me I had dabbled in zero DTE And I never really had a clear I never really had a clear plan Or you know confidence in Option Omega certainly was a huge Game changer for me and I know for a lot of people But You know there's a lot of different ways to trade That in fact I mean I trade a lot of strategies that are not back test driven SPX at 45 48 Bitcoin peaking back up towards 39,000 I haven't heard anything about the BlackRock Bitcoin ETF lately The gold pushing as well Is that the all time high in gold 2089 Let's see here 2089, wow It's coming, we're coming for you 2089 36 points away from all time highs in gold In your yield Pushed above 5 briefly Now down to 4.33 Lock in your mortgages Ladies and gents Lock in So that must mean, so there's longer dated I don't have one on Feesh, but that means Those longer dated calls are getting Pounded faster than your vertical, huh Yeah, you can see the February Implied volatility And the February options in gold are at 14.27 41 days are at 13 But then 28 days are at 14.3 That's That's not really a Cool 55 is my sweet spot for my PM Iron Condor Profit target is 50% Currently at 26 Yeah, my Tuesday PM Iron Condor set up The only filter it had on it was a Gap down That's on my November plan Should I take my 50% If it hits or should I Try to squeeze some more out here I'm just gonna take my 50% Push up, a little more push up Yes, 0.7 is A bigger gap than 0.11 Not 0.07 0.7, you gotta work your decimals Alright, a couple more points Up, and I should hit my profit target 15 minutes to go Early indication, market on Closing balance, 107 million Sell side Oh yeah, I have those days, Elliot I mean, honestly, that's One of the One of the reasons I'm liking the Trade Steward because it helps Minimize that, although the trailing stop Issues They need to do something about that Quickly, good night Lesoza, a little bit higher Oh, it's going off 50% But it's inverted That's why it hasn't hit yet That's right, we'll take it The best way to get Smoked in power hour is also To go without stops So for those of you in the 5.7 DTE double calendar, I'm going to Go ahead and hold that till tomorrow It tests pretty similar taking it off At 1 DTE or 0 DTE So I'm just going to hold Slightly profitable, but If we get any kind of a move tomorrow Up or down should be able to book more We're going to get 50% here On this PM iron condor Currently at 42% Just need a little bit more of a push up A little over 10 minutes to go Orders at 12.35 Spreads currently trading at 14.50 It's trying It's trying for me 13.60 13.30 Really pushing Push too much Back off Right there 45.55 That was all skill Dark Avenger That's just how I wrote it up 3.4 billion buy side That's what kicked in Like the smart thing to do here Is going to be to close This one out here in a couple of minutes So you're saying there's a chance tomorrow So you're saying there's a chance Alright I'm getting close to bailing here Feels like there's Too much juice left in here Alright, Meach says let it ride I'll let it ride It's currently trading at 13.00 Profit target's at 12.35 Up to 15 And now I need another bounce 5.5 minutes to go I'm going to adjust my profit target To 45% It's currently at 44 There's a little bounce coming in Can we hit it? Hit 13.45 Nice That helps Alright my friends I was going to take it off at 5.0 anyway Alright my friends Have a fantastic Evening Just for live streams Tomorrow is the Wednesday the 29th So I'll be streaming live in the morning And then we'll be back for Power Hour Hopefully the market crashes overnight And VIX is at 30 When we wake up Dream about it Maybe it'll happen Alright all take care Have a good night