 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 not here to gamble, 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 Hey, what's up everyone? Happy power hour time Thursday, October 12th Hope everybody is surviving the flush Quite a flush, I was looking on financial juice I didn't see anything, was there a trigger here? I've been kind of hide up getting some things done So I didn't see any news headlines But we don't always need a news headline For something to happen Bond market auction, is that it? S&P's currently down 34, NASDAQ down 88 Russell down 42 Wow, Russell down 2.37% Dow down 230 Golden solar slightly red, notes and bonds are red Ten-year yield back up above 4.7% Oil bounced back a little bit And you're unchanged, natty gas down 1% Grains are higher Bitcoin pretty flat VIX is up 6.5%, it was up I guess I was up like 11.5% at one point Bond auction did not go well Alright, so looking at I think we should be getting a 10 wide Should be 10 wide Trunch numero uno Did a rick this morning, that one hit Still got a runner The runner didn't want this bounce Let's see where that one's at Trying to creep back up in the valley With my rick runner But for power hour, I need to buy some longs One-to-one for me, I do one-to-one on all tranches I had talked about and I did a couple days with a 3-2 But I'm back on the one-to-one train for power hour Give it a couple minutes, looks like the 45s And the 35s right now So current move from the open is the SPX is down 0.87% I did take a, I also took a morning Discretionary iron condor Just kind of an AM ratio I wasn't holding it for the full 80% So I got at it like 20% and 40% So that was nice, got a nice little Discretionary winner this morning And I got in when price pushed down I really, man, I thought we were I thought it was a no-brainer that we were going to 4400 today But then things kind of fell apart Looks like we may be 5 wide, ladies and gentlemen 45-40s 35s, let's see if we can give it another 30 seconds Looks like the 45-40s 45-40s, trying to get 9-30 Build at 9-25 45-40s Murph Dog, besides a ratio How else could you play with the strikes Delta's order to make a short iron condor More bearish or bullish You could just skew it You know, just use If you're going bullish Just use higher deltas on the calls Lower deltas on the puts If you want to go bearish Use higher deltas on the puts Lower deltas on the calls Yeah, towards the end of the day You're going to Get into some pretty low premiums The further out you go Yeah, if you want to go bearish You're going to go higher delta calls That's just going to give you more More room to the downside Less room to the upside So, checking out some of our other positions Took off our CL Hedgie CL Hedgehog For small profit, that one was Boy, that one came back That thing was down a bunch Came back and booked a small profit on it The vertical was getting near 80% So needed to close that one out to Manage risk Added a new time fly In the NOV3 cycle So we have three of those on Two have been adjusted And then the one we just put on today We've got a rut duck It is right in the middle of the duck head Expires tomorrow, so Price can hold its head up above 17 Might have shot at a duck head here Made an adjustment to our NDX calendar by adding an Upside one, thinking we were going higher We did not We came down, still up a couple hundred On that one Had I not made that adjustment We'd be booking profits I think Or we would have Over 10%, maybe 20% But still got some decent Range on that one So I got into Trunch 1 at 9.25 For 5.55 To reduce my stop TR1 555 I forgot to head my Head my bone broth Simmering on the stove Got to get my power hour bone broth P I've never been a T guy Hopefully you guys can't hear that Construction work going on in the background SPX trying to give a little bounce Chris maybe Bulletproof coffee Or I was on a little mud water Kick there for a while Kind of a coffee alternative Got some mix of Different kinds of mushrooms in it Mud water Yeah, I haven't been Drinking the old mud water I still have some I just kind of got tired of it So we're hanging around Those lows Sliced through the Expected move to the downside Trying to make our way back up So did anybody I saw At least Dick or some of you Took some DKS's Did you guys take any other Zero DTE today besides Rick Nice, nice Nice Tevis For those interested in learning more about Tradier, we're doing the Little Tradier webinar Today 30 minutes after the market closes We post that in the Trader chat channel Just posted it in the Trader chat channel Quite a little bounce after the market was in Freefall all the way from 4325 20 point bounce 21 point bounce 10 minutes until trotch 2 Trotch 1 trading down to 760 750 Caught that falling knife Vix got down into the 15 handle Let's see the low today 1544 Back up above 18 at 1 point At the lows Another 2 bucks to come out of Trotch 1 to reduce the stop Is PX still trying to bounce Or the market may Push down from here Those are the 2 options I don't think it will stay I'm going to move around That's what they That's why I'm running the show Krish is because of my insights The market will either go up or down Right detective Good name too by the way Brilliant detective I believe you are correct I think it will do a little up and a little down I had to guess Trotch 1 down to 720 Trotch 1 down to 720 A few minutes until tronch 2 Get myself some more longs So for tronch 2 Looks like we Possibly could be 10 wide But might be 5 wide Right now looks like the 5040s Now the 5045s I'm going to go with the 5045s 640 Filled at 640 50 calls 45 puts A little bounce Right into that Entry time Thursdays I never have any calendars To put on in power hour Never have anything else to do Except for Watch the price So if you're new here If you have any questions Feel free to jump in Got a lot of time in between entries Answer questions Fill in some gaps Tronch 1 is down to 730 I'm looking for 555 Tronch 2 I got in at 640 Looking for 385 Are you going to be like Switching on the plane Layover in KC Or plane switch Maryland I assume right We just got a brand new airport in KC So you should like it The old one We're big boys now We got a big boy airport Actually have shops and restaurants Like a normal airport Lesoza ETH Did I say that right Lesoza ETH So what I do is I Lesoza So what I do is I always buy the longs up front So I have the longs in place And then when I actually enter my order I'm just selling the shorts And the reason I do that is because it's easier With I don't know what broker you use If you use TOS you can use these order templates To make it easier So it automatically sets up my Stop loss And my limit orders At the same time as I enter Because once I get in I'm only focused on the shorts Those longs are most likely just going to expire worthless They're just there for Black swan protection As well as buying power reduction What broker do you use Lesoza Naked strangler I would not Ditch a strategy after a few weeks No sir What I would do is I would Go through the trade logs Of the strategy that you're Trading And get a really good Feel for When there's been periods of Drawdowns or you know multiple Losses in a row And just to understand how that strategy Works I mean if you're trading off the back test Then you need to understand that there are Going to be drawdowns And it'll help you Kind of determine what you would do in that case I like to go Through the trade logs and really like Feel those trades Especially the losses And try to think through how I would How I would react if I was really trading Happened I've found that pretty helpful Okay yeah I'm not Not too familiar with Functionality of Saxo But I would say they're not a Great options trading Platform if I had to guess Alright got a little bounce away from Tronche One Tronche one's trading back up to about 785 Tronche two's at 560 So then we're close To reducing any stops yet A few minutes Until Tronche three So LaSosa So we got a few minutes until Tronche three So what I'll do is I will Buy my longs and I just like to buy the On the put side I'll buy the five cent On the call side I'll buy the Ten cent Just some cheap wings Number of contracts I'm going to do And then I just Then get those filled a few minutes Before it's time to Actually enter So now all I have to do is sell the shorts About the five cent calls and the ten cent Puts Maybe I said that wrong So if we entered right now it looks like It could be the 5545s Give it another couple minutes So then when I get ready to order Let's say I'm doing the 5545s I would And toss I can right click And sell custom I already have these templates Already built out so I would go to Tronche three Ten wide With 14 contracts which is what I'm doing And so then when I click on that It sets up the order so it sets up the entry The stop and the And I have my limit orders at 90 percent below Where I get in and that way it just Gives me a limit order It's already in place so when I Towards the end of the day I'm filled Well nice of you to ask naked strangler I have a resource just for you And grab it It's a lesson in the course Called setting up Order templates in thinkorswim You can go there right here Via that link Alright one minute Looks like the 5545s Tronche three Ten wide 14 5545s I'm going to get 315 Build at 320 On the 5545s Alright so there's my profit hump 4345 Is the sweet spot A little pull back here Tronche one is down to 630 I need 555 Tronche two is at 530 I need 385 to reduce my stop 575 585 I need to see 555 555 That bone broth That's good stuff boys and girls Packed with protein That's good for the soul 555 there it is Alright reducing my stop on Tronche one They don't come out yet The first one comes out in about Three minutes tomorrow It'll just be in the main feed there I reduced it to 855 Because I reduced it to three From four to three They just pop up in the main feed there They'll be at the top So the first three are just preliminary Just kind of preliminary indications And then the one at ten minutes until the bell Is the final one That's what the firms are committed to They'll just pop up on top here So Here in two minutes So at 30 minutes until the bell You'll get the first one 385 is my Tronche two profit target Correct Yeah usually when there's something Really going on It'll highlight these in red So for example This was This is earlier today Crude oil inventories If there's something important That's why I was kind of scanning through it It didn't really highlight anything about the bond auction I did see it But I just thought maybe that's it But then Yeah here it was I was planning on Either doing a TGIF Or I just decided to Adjust the NDX trade instead And of course with Vix Popping now I'm not going to do it That was when That was when we were up here Before noon So Dick K do you peel off a third Of your Tronche one Alright so it's 30 minutes until the bell So we'll get our first market on close Balance number I'm on a 30 second delay Because I have the free version here But So here in about 5 seconds it should pop up And There it is 71 million buy side So pretty much a nothing number Did you intend to Dick You just forgot I like that version I'm going to I'll be switching over to that Next month Tronche two I've got the $5.50 it's currently trading at $4.50 I need $3.85 A little bounce here Hovering right under the expected Move line where we started the day And Stopped out at Tronche one after my stop Production So Got in at $9.25 Stopped out at $8.55 So 70 point win Stopped out for profit Tronche back in Tronche two straight at $5.70 Stopped at $9.40 Tronche three Spread is at $3.10 Stopped at $6.20 Got a little room but Need to settle in 40 cent positive slippage that's nice Naughty dog power hour question I see most of the back test examples Show at $3.55 I just wonder That is what people are doing in real life They're trying to settle the cash So What I've decided to do And you can Listen to my September trade plan In that trade plans channel But I just talk about If I So let's just look at Well I'm using the same strike so this is going to look a little goofy But Let's say I'm in this Trade and prices Fairly well inside Strikes Or you know somewhere close Not way out here Then what I'll do on a discretionary basis Is I might consider taking it to the bell And just letting them expire They're probably for about Let's see probably June, July, August For a good three or four months I was diligently just Taking everything off at five minutes Till the bell So if you look at the back test You'll notice that letting them expire Tests better So it's just a matter of Do you want to take that risk In the last few minutes To get those last few cents Out of the trades If it's a straddle I won't Let it expire I'll take it off before the bell But if it's A strangle And it looks like it's in decent shape Consider giving it Giving it a shot to Go to the bell The other thing you got to keep in mind Is when you get close to The end of the day You may have a situation where You're if prices Kind of out of center Then you may have a situation Where you're getting down to a point Where your shorts have no bid Which means your stop is most likely Not going to trigger Your plan with that risk as well But you can't argue with the fact that it does I mean it tests better To just hold to expiration But I don't like the idea of holding a straddle I mean You can get out with a few minutes until the bell If you're Pretty well centered at a decent price You know the chance of pinning is So low that To me I don't think it's worth it But a strangle Strangles a little more fun You know to work both ways I've gotten smoked trying to do that Where I would have been better off taking it off And I've done better Leaving it so it's just Something you got to decide if it's for you or not Just for PM Eastern For expiration day So if it's a SPX Options that's not On expiration day Yeah you can trade them 15 minutes after But you'll get You know the settlement price It will be Sometimes it takes a couple minutes after 4 p.m. Because they got to wait for all 500 Companies to close and sometimes there's a few Straglers so sometimes you'll see it tick around You know by a few ticks here and there But you'll know the You'll know the The end price within a couple minutes after the bell I'm trying to choose at 480 I need 385 I need a little pullback Back between 45 and 50 We would get to a point To be able to Reduce the stop on Trunch 2 Trunch 3 is trading down to 260 Time flies with the Adjustments like that little down move Now we're kind of right back where we started The day as far as P&L And SPX is Trying to push Trying to push us around Trunch 3 is trading at 660 Stops at 940 Trunch 3 is trading at 350 Stops at 620 4345 4350 is ideal About a 5 point pullback or so Second indication For the market on close and balance Same 71 million buy side By the way if you're here Me talk about this This is just something I started watching I don't really put too much weight in it But Essentially the All the big boys like Black Rock State Street Vanguard They have to report Their net inflows or outflows They have to give their final number By the end by 10 minutes Until the bell Anything over a few Billions starts to That kind of gets into Big Market moving type numbers A couple of billions 71 million By side Early indication numbers The final one will come out Completely different A lot of times Movement in the last 10 minutes The first one 30 40 The final one 50 Usually you see the first three Which mean nothing First three are the same And then the final one Can kind of Change I asked for below 50 Please Mr. SPX Can you just hover below 4350 See To me it's a little early to be asking We still have 17 minutes To go I like to save my asks into the last few minutes Yes I'm gonna come down to 4350 Tranche 2 down to Oh we're getting there I'm looking for 385 Chiefs Broncos tonight PT That's right 390, $4 Does anyone see 385 I'm on the 4345 4350s Get 375 Alright Landon I believe you If Chris said that No I wouldn't I would just hold off but I believe Landon So we reduced our stop on Tranche 1 And got stopped for profit Reduced our stop on Tranche 2 So see on Tranche 2 Got in at 640 Stops at 585 So it should be out for profit Even if we get stopped on Tranche 2 So that's always good I think we're gonna I think we're gonna take this home So the third Market on close and balance same thing 71 million buy side So then the next one that comes out here In about 4 minutes That'll be the final I mean that was a relentless drop wouldn't it I mean that thing just No bounces Try to get a tiny bounce there at 1245 And I guess the The market just Repriced itself Well overreacted Like it always does Repriced based on the bond auction Whatever that was about Alright I like the positioning I like where we're at here So the final market on close and balance Will come out in 10 seconds I won't see it for 30 seconds later But we'll see if the market moves at all A little bounce up to 52 Yeah we're getting a little push 220 million Cell side so it flipped Market balanced I got stopped on Trunch 2 I assume Yeah Stopped out of Trunch 2 at 615 615 and 610 Got in at 640 so Stopped for a small win So it's up to Trunch 2 So Going back to Your question so You know we're kind of on the line here I'm getting close to the upper Strike which is 4355 But This is one I mean it's 10 wide So this is one I'm going to Consider taking it to the bell Especially if we get a little bit of a pullback here In the next few minutes I got into Trunch 3 At 320 It's currently trading at about 60 We can stay under 4355 This one to the bell Oh I like that little drop Right back to the 50s 6 minutes to go All we got to do is stay between 45 and 55 Into the bell my friends Who's with me I need to know who I'm riding with here today Tomorrow's out good win nice PT's in Ken's in Murph Dog's in Lando's in Leo Alright I got a good team here Good team 5 minutes to go So the question is So these are trading at 75 cents Move my limit order down to 10 cents So the question is Is holding for those last That last 70 cents Is that worth the risk I don't know I kind of go back and forth You know Over many occurrences Over many occurrences The back test says it is You're playing with a little bit of fire And it's fun Let's check the old heart rate Measuring 71 3 minutes to go Well that would take the fun out of it Mirage I'm risking 30 cents to lose 6 dollars and 20 cents That's where the fire comes from baby No I should Really reduce stop That's on my list I'm going to I'm going to tweak a few things here for next month But I'm just going to ride with the back test Dave out of 30 cents nice Down to 30 cents Yeah below 30 cents It's actually been picking up my 10 cent orders Sometimes it does, sometimes it doesn't So I made 700 bucks on Tronche One 400 dollars on Tronche Two on those stop outs I get this it'd be 44 80 or 44 70 So if we pin here About 5500 total Less than a minute Don't do anything stupid Just shut it down, go to sleep Straighten at 10 cents, my limit orders at 10 cents 15 seconds I got hit on my 10 cents Alright I'm out Alright so a little about 5500 Plus or minus Minus the longs that I bought So all three profitable Can't complain about that On a Thursday my friends I love Thursdays, Thursday is my new favorite Day of the week Oh nice Elliot Didn't reduce your stop, ended up with Lots of pins, nice Alright good stuff Good good good stuff So tomorrow I'll be back in action In the morning So we'll be streaming live for zero DTE Tomorrow morning as well as power hour Alright my friends Good stuff, have a good night Talk to you soon