 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, but we're here to trade We follow the plan, that's how we get paid Test and trade, 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 play Ay What's up everyone, welcome to Power Hour Live Friday, August 25th About five minutes until trunch one Looks like we're gonna get a nice strangle But could have been even wider Had it not been for this massive rally Back up near highs of day After a sell off to the downside expected move Pushing up towards the upside expected move So right now it looks like it could be the 44-15 calls 44-05 puts But I'll give it a few minutes, I actually need to buy some longs here I made a big mistake on my quiet lunch I forgot to reduce my stop So instead of booking a profit on the second half Getting stopped out for a profit on the second half I ended up losing a couple hundred bucks on the trade Because I got stopped out with the original stop So not what I like to do Just completely forgot about reducing my stop Let's see who we got here today Campbell, Alex, Andrew K, Dan B Dick K, Elliot I met Baal, someone on an iPhone Someone on an iPhone 11 Pro Max JB, Kelvin, Ken Ken's iPad Klaz, Krish, Kylio, Lewis, Morrow Michael G, Michael Todd, Mirage, MRP, Amono, Ryan P Steven Pierce, Tevis, Trader AL Yizzer Yizzer I don't know if I'm saying that right Welcome everyone No pH today for Morrow? Is that a Friday thing? Is it the price movement thing? What's going on there? Bedtime thing, got it S&P up 34 Mazdaq up 120, Russell up 13 Dow up 300 Vidya still down 2.5% Bix down 8.5% Alright, looking like 44.15, 44.05 44.15, 44.05 Trying to get filled at 8.20 It's running away from me How about 8 even? Filled at 8 even for Trunch 1 44.15 calls, 44.05 puts Yeah, that VXX trade is coming back in With the vol contraction It's got to get down below 24 I'm going to I already closed out half, so I'm going to I'm going to just hold I mean, if this volatility contraction continues into next week Try to milk a little bit more out of it I will be putting on a 6.7 and a 3.5 DTE double calendar before the end of day I am in the 15.05s, correct Quite a bounce today Hey, Steven Pierce, the Please use the zero live chat channel and discord Question was, did you buy or sell the spread? Are you talking about for power hour? It's a sell selling Yeah, please use zero live chat channel and discord Not the zoom chat Yeah, so I buy the longs before and then I when I enter I I sell the sold the 44.15 calls 44.05 puts If you are trying to figure out what we're doing make sure you check out the Zero DTE course channel That'll kind of give you a better idea Essentially sold an iron condor But because of the way that I manage my OCO, I mean, most likely the longs will end up just expiring worthless So I just buy the longs first just for that margin relief And then just go in and buy the shorts And my OCO is set up with the With the With the limits to get out and the stop loss as well But it's just on the shorts SPX still pushing So for power hour Going back to Steven Pierce's question So Yeah, we're trying to we're trying to take advantage of that rapid theta decay towards the end of the day And Price used to at least Calm down at the end of the day And just kind of chop around Although we've seen some decent size moves At the end of the day this month We've got about a week left in August You never know, we could, you know Hit a four or five day Wind streak and end the month strong You just never know VIX down 9% VIX gave back nearly everything it Pumped into the market yesterday J-Pow just sucked it out with his With his Jackson Hole speech I guess Although it looked a little dicey To begin with, but then man this rally Right at 10am central Decided to go the other way So Tevis did they say that they are transitioning you Before 2024 And that you'd have access to TOS SPX pushing up against the Upside expected move for the day High new highs of day And SPX unbelievable Unbelievable Okay, well that's good That was the opposite of what I was told That's, there's a very good chance of that Tevis Just go to bed tomorrow I'll ring you I'll yell really loud just Just leave the recording on Get in bed, get tucked in If anything crazy happens I'll just start yelling Push down now Now we're not going to need to adjust the fly today We're not going that high If volatility is expanding You know the butterflies will be Erratically a little bit cheaper But that's not critical I mean I got in today anticipating continuation lower So those time flies are pretty Pretty versatile You can pretty much enter those Anytime you want, beginner luck It's one of my favorite movies as a kid My older brother He was into karate He really loved that movie He thought he was Danielson there for A couple years I think I mean you just cannot defend the crane kick It's indefensible Ask Johnny, ask Johnny about that Yeah that's, that's That would be, that could be a deal breaker Wuga Put him in a body bag Johnny And hanging around center Pretty light day of trading today I did put on a TGIF It's down a little bit with this up move Since I put it on Like I said I'll be putting on a 6-7 Right around trunch two time In fact I'm going to go ahead and get my 6-7 on Before trunch two here There we go I just posted my 6-7 in the calendar channel 25 delta Then I'll put on a 3-5 closer to The end of day Trunch Numero dose Buying my longs for trunch two Yeah I think I'll do a 3-7 Also towards the end of day For trunch two It's like the 44-20 44-05 So maybe 15 wide Possibly Alright give it a little minute Another minute here See where we end up We could do the 44-15 Price moves down a little bit Where is it going to land 44-20 or 44-15 It's decision time 44-20 44-05 We could fill that 4-60 Fill that 4-65 On the 44-20s 44-05 That's the trunch one Got in at 8 even For four dollars and 80 cents To get out of her to move my stop On trunch one And trunch one is currently trading at about 6-30 A little bounce in SPX Chris did you learn how to use the analyze screen And toss? I need proof I need a screenshot from you Not going home today without a screenshot You know when you were little And your parents made you eat your vegetables Before you got it from the table That's what we're doing here Gotta eat your broccoli before you leave today No comment Chris muted me I'm with you on that boomer Not a fan of peas I love broccoli Not a fan of the peas That was always the worst Chris will be on in a minute What are you guys talking about Still chopping around center Trunch one down to 5-90 5-80 Looking for a 4-80 What's everybody doing this weekend I've got Baseball practice Saturday morning I think that's about all I got on the agenda Do some farming Do some tractoring around maybe Beach and soccer Golf Tennis Nice Yard work Hiking That's finally supposed to cool down A little bit tomorrow So that'll be nice 97 today feels like 111 Tomorrow though only high of 85 Sunday high of 81 Low 80s All next week and sunny That'll be nice Trader Bianca chipping wood Interesting Didn't realize you're into chipping wood Bianca You have a wood chipper Or you do that by hand Big wood chipper Big wood chipper Thank you Wuga Thank you for bringing me back To the reason we are here Trunch 3 needs some longs Got my longs for Trunch 3 Closest to 2 bucks On the call side It's going to right between 25s and 20s Looks like the 25s 44-10 on the Put side SPX pushing back up towards highs of day It's kind of right in between here Looks like the 25 10s 25 10s 15 wide Filled at 315 Filled at 315 For Trunch 3 44-25 calls 44-10 puts Follow the plan Atenra That is the correct answer SPX trying to take up to new highs Nice Wuga What time did you end up getting in that Were you able to structure it So it had at least 30% to the upside So between 44-15 44-10 is the sweet spot For my positions Rick's got a lot of room on his train He's a He's pretty open He's pretty open for everyone S&P up 40 NASDAQ up 150 Dow up 300 Did not see that coming After the way the day started About 30 minutes till the bell Price right back down to center This time I needed 480 Oh boy Thank you, thank you So I'll move it to 780 Alright Feels good to lock in a little bit Vicks down a cool 10% Back down under 1550 VXX Approaching that $24 Area Which is about Right at about 50% of max profit If you didn't get out The first round One of the right closed half Now we wait Watch and we wait We watch and we wait So if there's anybody new here Or anybody has questions Now is the time Could be power hour related Could be something else Open Open mic By the way for Trader sync users I did get a response that said The grouping issue has been fixed I haven't looked at it yet So whenever I Upload my trades after the end Of the day I'll confirm that but From what my man Pedro says It should be fixed Yep I'm gonna do a 35 and a 37 Was pumped to consider you putting Notes in toss for T13 Best way to see I guess I'm not following Brett For the power hour trades Yeah I mean it's not something I post You can if you're looking at my screen You can see what I'm in Tron to 1 Was the 4415 calls 44405 puts Tron to 2 Was the 4420 calls 4405 puts And Tron to 3 Was the 4425 calls 4410 puts So if you check out the The trade plans channel Kind of details exactly how I trade power hour Looking for $4 a credit Tron to 1 $3 a credit on Tron to $2 a credit on Tron to 3 SPX coming down a little bit Yeah but Brett there's really no value In me posting my trades I mean You've really got to learn To do it It moves too fast To try to copy or anything like that anyway So it's really just Closest Premium at that time that I Then I enter To $4 $3 $2 On Tron to 1, 2, and 3 Just right here between 4410 4415 So for the 37 and 35 Really the later in the day test better But I'll be Putting them on so it doesn't interfere With my Power hour exits Put on my 35 first I just posted my 35 In the calendar channel It looks it appears nice and wide Ryan If you stretch it out On your screen like I do Gives you a nice sense of security Doesn't it Until you do this Or until Mr SPX gets a while Hair up its arse Starts Going to town No it's a nice 10 15 wide strangles That's always that's always welcome Dick look what you're doing you're creating some mini Mini dicks Some mini dick monsters That may be the only time you're proud to be called that Ken Alright alright that's the dick jokes It's my reminder There's only one big dick Oh yeah This appears like a take it to the bell kind of day Don't you think Elliott I'm going to go ahead and get in my 37 here So I can focus on power hour I just posted my 37 Okay We need to bounce here boys and girls Stopped on trunch 3 Still alive for trunch one and two I need to stay above 4405 4 minutes Till I exit Gonna need a little bounce here in the next few minutes There you go get on up there Get on up Get on up a little more 2 more points 2 minutes till I exit Tried to bounce coming back down now Can we get a last minute bounce Doesn't act like He wants to bounce for us 30 seconds till I exit Put trunch 2 At Let's try 3 310 if we can get a bounce Filled at 310 on trunch 2 There's a bounce About a bucks 55 for trunch 1 There's a nice bounce Filled at a buck 40, buck 35 For trunch 1 Very nice So trunch 3 was a casualty But nice winners for Trunch 2 Got in at 465 Out at 310 Small winner for trunch 2 Nice winner for trunch 1 Overall winner I'll take it to go into the weekend Alright my friends Have a good weekend I'll be streaming live For the open on Monday And for power hour on Monday as well Alright guys and gals Have a good weekend Talk to you soon