 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 then 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 big honey, power our lives 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 What's up everyone, welcome to Power Hour Live Tuesday, January 23rd Hope all is well and zero DTE land S&P up 5, NASDAQ up 27 Russell down 3, Dow down 133 Gold and silver both green, notes and bonds lower, 10 year yield up 1% Oil off half percent Maddie gas up 1.5% Grains a little bit green, Euro and the pound a little bit red Bitcoin off 2.5% and the VIX down 3.5%, 12.74 Chad is here as well, yep So here's what I got going on, I see some questions already So I only had one contract left of my lunchtime number one My AM number two was stopped out the last three contracts So I just closed my one contract that I had left of lunchtime one At 2.90 just to get rid of it, nice big profit And to open up the strikes at the money so that I could do Power Hour With not having to worry about overlapping strikes So I got nothing on right now And we'll look at like the 48.60 straddle Yeah so premium is pretty low I'm not going to do my normal Power Hour I just put on a straddle 48.55 That's part of my NTT trunching So I'm just going to keep that And then I've got one from earlier Which is the 50.55 So this is my combined couple of positions on So I'm going to just ride with these And potentially put on one other during Power Hour But not trading my normal Power Hour tranches Premiums are just a little low Almost 7, I guess at the money 50.55s could be 7 bucks But it would go inverted So I'm just going to do a little A little discretionary trading So here is my bots for the day All winners Overnight Aaron Condor booked 14% My O2 double calendar Tiny winner My 1DTE Actually that one's still open My DKS at 40% Half my quiet lunch Got stopped out for a profit of about 10% The other half booked 40% My other quiet lunch booked 50% And then my 1DTE is currently at 40% And that will close out at 45% And then I've done four Of my NTT trades today First one booked 900 Hit 20% and then got stopped out for profit on the remaining My second one booked 2900 Got 20% and then stopped out For a big profit on the remaining piece Then I have the two remaining on One has hit 20% and one has not yet So good day so far, good day By the way, if you just started trading Whether it's backtest or the Chad style Or any type of 0DTE the last couple days These have been monster days So just don't scale up your position size Based on the last couple days because Price will move Yeah So I just got filled on my On that 4860 straddle at 635 So my OCO is 635 of 20% profit Remember the trailing stop is different Trailing stop never is above 4 for me So 510 is 20% profit Trailing stop 4 Yeah, I'll probably put on a 60 straddle If we push up a little bit more Actually, I'd like to see a little bit of a pullback Into the candle, we're kind of in a trending situation So I'm just going to hold off for this point We just broke through highs of day Range has been about 15 points all day Beautiful, beautiful 0DTE trading And I am hovering my P&L Right before we got in here is Basically $1,000 below my end of year So I am almost officially out of my drawdown Nice Amazing with a few good days in a row Literally, I think it was Tuesday Or Wednesday of last week I was at the peak of my drawdown I think my account was down 22% Almost back to even So I've got... I've done three trades today Which is a little lighter Normally it's 6 total But I guess I could maybe get two in In front of power But may not AM number one was a $2,292 $2,295 profit winner AM two was $1,475 And lunchtime won $2,195 So... By the way, Chad If you have anything you want to show on your screen Just feel free Let me know I can stop sharing And let you pull up Take over So barring a meltdown Today should be another green day for me SPX up to $4,860 I chickened out on my Netflix call I closed it I made like $200 I was like, ah, I just love it I'm about to get stopped out On one of my tranches That I've already reduced the stop on If I could go any higher I'd get stopped My 1DTE Covering around 40% Need another little Bit of decay for that one Sitting dead centered I thought you were a couple of K away yesterday, Elliot No Is that somebody else? A couple of percent Chris, is there a way to alter the bot number of tries? I didn't know there was a number of tries I thought it was just a window I have my window in minutes I used to have it at like 2 minutes And then I increased it to about 4 or 5 Because there's an issue with delayed data from TD one day But I didn't know there was a number of tries A tag Tag Mr. Go Big Orange in the trade steward channel After the maximum tries Yeah, I've not seen that Okay, Dick K says it's time So it must have tried during your window and not gotten filled What's your window? As far as time wise A couple minutes Yeah, I would expand that a little bit If there's a delay in TD's API Getting it to trade steward That's what I've experienced I widened my time to about I think I have my bots at like 4 or 5 minutes now Or you can keep it at 2 If you run into that Manually fire it With the launch now button My 50-55 position is still hanging on Push it to a new high That would get stopped out My 60 straddles Looking good There we go Get away from there Get away from that stop The other thing to remember As I was talking about If you've had a couple of good days and you're new Also keep in mind Yesterday and today There's absolutely no news No scheduled news So that always helps That's a lot of times when Monday is so good Not only do you get the ball Pump from over the weekend But there's usually no scheduled news on Mondays Today, Tuesday, there's no There's the Richmond Manufacturing Index But that's kind of a no A no-go for anything Tomorrow, 15 minutes after the market opens We have flash manufacturing And flash services PMI Which could do a little something But not big news Pre-market Thursday Advanced GDP and unemployment claims And then Friday pre-market Core PCE price index Fridays, I mean of anything That one will probably Move the markets more than anything But that's also pre-market Price coming back down to 57 Price is really Kind of right where it opened today Not far from it anyway Trade scout, are you on here? So I put your trade up here just to watch My concern with that is the In the last hour of the day Those 1DTE options aren't going to Decay enough But to make it worth it But I put it up here just to Just to watch it anyway Because one thing I was testing And looking at last week Was tronching with 1DTE Because my 1DTE strategy has Done really well But the problem is You gotta get it on early And so trying to tronch into 1DTE throughout the day If you're trying to put it on later in the day You just don't get enough decay To make it worth the risk in my opinion And so I'm just sticking with my Early entry 1DTE Because it's If I can get 40, 45% By the end of the day That's pretty good And it's typically Short strikes are typically Out at or outside the expected move So we'd have to have a move Outside the expectation Outside of a 1DTE Move for it to Get stopped So for what I'm doing to Those of you doing what I'm doing I will not put on a second Power hour trade As long as those 4860s are at the money It would take a Move one way or the other To open up a potential Second power hour trade So I will just roll with this one As long as it's Centered Trying to push back up a little bit My 5055 is Getting close to a stop Out again It's like 1247 As I got into That one at 1575 And stopped out just now At 1560 so stopped for a small profit Yeah Theta So I'll just put my My Power one you can kind of see I just posted In the discord so it's sitting centered So I'm not going to Do a number two Unless that price comes to one of those Break evens or close to one of those Break evens and If it does that then I will take a look and see What if a number two makes sense Or not in terms of Probably another straddle Depending on the premium so And I don't Usually go inverted white tiger I've done that before But It's just the risk and the Little The profit that you would get Compared to the risk isn't Really good in terms of When I first started trading And doing it this way I would go inverted To get a second trade on but Three and oh right now And up about six grand so I'm not going to mess with it inverted I'll just roll with this one And add a second if that Price moves kind of like where I showed you with the Screenshot that I put in discord Chad do you have a minimum Premium that you take in power hour Yeah anything over five Got to be over five still Yeah still has to be over five Russell and the Dow still slightly red S&P and NASDAQ slightly green The screenshot In the discord of my power Target I have this on one screen And so now it's Instead of doing Calculation I just glance at it and I just put that in 2040 6080 So profit targets For different premium and then I don't have the trailing stops in there because Remember they starts at four So if you have a high premium and you're 20% is Is You know if you've got a 720 Fill in your premium Or your 20% is 575 your trailing stops For even if 60 Or I'm sorry 40% Profit target is above For the second trailing stop Is still four so That's why I didn't include any trailing stops There and then once it gets below Four it's just whatever that New profit target is That's just power hour only It's $4 fixed until it gets Under four Yeah just for power hour You know if you've got a 5 20 premium Or fill Or your 20% is 415 and your trailing stop is 4 Your 40% then Goes to 3 10 And a 310 trailing stop 60% 210 If you ever find yourself putting it If you ever find yourself putting in some A trailing stop above four you're doing it wrong For power hour 4863 Yeah I'm starting to move a little bit So my last remaining NTT trunch It's trading at 2140 Stops at 2595 So I'm going to need A little pullback So I'll put this in the discord as well here A little screenshot So you can see What I'm going to do is And so now it's kind of opened it up To where I, you know If I choose to If it moves up anymore I can look at the 4865 straddle You know I'm not going to overlap strikes If I wasn't in any trade right now I'd probably do the 4865 4860s But I'm not going to overlap the strikes And that's just my personal preference It's not saying you can't do it Why not a 65 straddle If I would do over Instead of overlapping I would do the 65 straddle So I think Yeah so it's kind of getting up there now So I'm going to keep a close look And see where this goes I'm going to give it like Let's see there's two minutes left In this bar So I'm going to let this bar finish And then see where this price finishes Because it could finish all the way back down You know The price finishes weak and then I'll just Sit tight If it finishes strong Then I'll consider The 65 straddle And I might give it one minute into the next Bar If it finishes up and it's looking like I could do a number two I might give it the first minute or so to see You know is it going to pause there Or is it going to continue to push And honestly that's just From So long of watching five minute bars Sometimes you'll get them where they Push out of the gates And sometimes They'll just sit there So I'm going to go ahead and at least Create the order for the 65 straddle but I'm not going to Place it yet until I See where this bar finishes Alright so It's finished So I'm going to see if this I'm going to give it one minute and see if this bar Wants to push highs or whether Wants to just kind of pause So right now I'm looking at The 4865 straddle with 20 Point wings You could go 20 or 30 A lot of times later in power hour you get You get filled easier if they're tighter And for me Using NTT as my Entry You can see prices Really you know obviously trending higher Which you don't need NTT to see that But I would wait for it to come And you know be inside The candles before I'm going to enter Another tranche and if that Doesn't happen in the next 14 minutes then I just won't So I'm going to try to get filled on this trade But if it keeps coming down Probably won't There I got filled 630 So now I want it to settle somewhere Between 48 60 and 4865 My Financial juice is rocking I've got the voice on so it's been Talking to me Actually I haven't traded it during power hour Krish so I think those I think an 80% Stop is too big My last one that I put on a little bit Before power hour I Yeah I've still got an 80% stop So I got filled at 630 So my 20% is $5.05 But my trailing stop is 4 Yeah I just refreshed financial Juice getting the same error Something's down And actually now that I say that Krish I don't know if it's too big I mean I'm getting it ratcheted Down to 40% once I hit 20% so maybe Fine the idea won't be The idea is not to be trading This during power hour When we have decent premiums But I like the idea of trading it If we have low premiums like we did today Also if you're new Here and A little confused and you're thinking Okay Chad got in On the 65 straddle But I didn't Should I follow him If I pick one or the other And that's a loser I'm not going to be happy That kind of thing Just keep in mind I talk about this a lot And I talked about it again in the little NTT mini course But the level That you trade at That isn't the important thing The important thing is that you have A process and that you manage Your risk around that process So it could have been a situation Where I could have been Great getting in at 4865 straddle but that's Not part of the plan For this methodology Our hour is always the most stressful for me With what I do, I don't know why Are your problems sweating, Chad? Well I think it's just because The range is so much tighter But I looked at my results I didn't start keeping track Of my results in terms of Time of day, you know Everyone knows now Because you're new I break my mind down Throughout the day into AM iron condor And I didn't start Keeping track of those time Frames until January 5th So it's really been I don't know what was that like 8 or 9 trading days But My power hour Has been the best In terms of percent So I'm sitting at What I looked at earlier today 17 and 3 17 winners 3 losers So That's a high win percentage But I don't know How stressful because it Oftentimes is when you can get your big movements That VXX verticals Rockin' So at about a lower 50% Of max profit now I've got 7 contracts left Started with 20 on that My time fly Still down about 400 Still in range here I've got one duck left That's In the area of 1 long enough to get an FDK So I'm going to get 505 Or less on that 505 somewhere in there Looks like it's still trading at about 5 Probably 520 or so 550 maybe So I'll just hold that I couldn't imagine the 20 Point wide power hours Yeah that's It's a beautiful thing Oh man I can't wait for those days I mean the straddles are definitely Little stressful times Long time ago Feels like a long, long ways away This morning's trades that I was My 2am minor converse That was why they were so great today It was the price movement They were 30 points wide or something It was great I continued to be so encouraged By my results because Every time I talked to someone I had a zoom call with somebody today It just seems like they're only going to get better Things get more volatile Yeah once the premiums get juiced It's even better So it's like if I'm doing really well In this environment over the last Several weeks Got to be encouraged As Volatility increases It's kind of like trunch three time And price is coming back down Into my candle So I may Add a 60 straddle 60 or 65 Financial juice is still down So we may not get a market On clothes number today Alright here's something that You can learn from price movement So what was it 15 minutes ago When it had that big push up You know pre sizeable push Compared to the rest of the price movement today So you remember me talking about that Second straddle so I waited until that bar closed If I entered it in I entered that straddle in at the Very top Okay Now it's come back down since then So I waited until it stopped and then I waited a couple minutes into the next bar To see what that would do Once I realized it's not going to push above it It's not going to collapse So essentially I entered About halfway through that Big push But if I would have gotten in at the very top You can see what now it would be off centered But now it's still okay I'll let them Expire If I'm not in a straddle typically If there's you know 10 point range Or something but straddles I like To try to get them closed if I can At least You know if I have one Or two contracts maybe not left You know if But Straddles can be It can move quick the last 5 or 10 minutes I like to try to get out of them by 245 central if I can 250 for sure See Data lists I'm not sure if I'm saying that right But my power stop loss Starts at 4 And then once the profit target gets below 4 So maybe I'm going at 40% profit target Or 60 Then it just becomes 100% of that So you know if I My 20% I'm filled at 510 And then I'm going To 40% profit I'll put it in order Let's say it's 410 My stop loss will still be 4 But if it gets to where it's below 4 The profit target you know let's say it's 3 bucks My stop loss is 3 bucks So that's how I reduce the risk Of the power hour trades Price came back down Into the candle so I'm going to Trade a 60 straddle Yeah Ken trailing stop that's correct 60 straddle filled it 1310 Yeah Cosmo I'm using the same thing 80% and then I'll ratchet down to 40 If I hit 20% I mentioned before I you know My intent is not to trade this way during power hour If we get decent premiums I'll go back To my normal way but It's low like this I'll just trade it the same way So this isn't a little pullback before another rip My 1 DTE sitting at 39% That one needs a little pullback to hit 45% as well 28 minutes to go Not sure about the early indication Oh financial juice is back up Early indication 52 million Cell side I need about 25 billion cell side Push this thing down a little bit Just rolled over Moving a little quicker now Getting close to hitting 20% of my power hour Number 1 Got an order at 510 it's currently at 520 Nice Frank 20% is so critical because You really can't have a A loss if you hit your 20% It's the beauty of it Our hour 2 got an order at 505 It's currently trading at 6 bucks Come on Theta Come on Theta Team Theta let's go Everybody's best friend when it's going down Technically going up Glad you like it Bumblebee Yeah it's easier for Me too because I'm not having the tight Answers What I'm also trying to trade Sharky if you're talking to me My most recent one was a 60 straddle I had a 55 Straddle on from earlier Hit and profit target number 1 here 20% it's below 510 There we go Filled at 510 Our number 1 So my 40% then If you look at the chart So I got filled at 635 So I go to the 635 And 380 is my 40% So 380 is also My trailing stop I did 10 contracts I got 5 left So I'm going to get rid of another 2 contracts If I can hit 40% Anybody in the 1 DTE with me Tomorrow you doing that one today? It's at 43% A little bit more decay that one should hit Decay Yeah I do too It's nice and wide I don't have a course on it Bumblebee But it's in the trade plan So you'll see the option Omega link with all the criteria So my 55 straddles Trading at 1420 My 20% is at 1275 So that one A little bit more down move My 60 straddle Trading at 1165 And my 20% Is 1045 So I need another bucket of that one I've got my 65 Straddle that It's trading About where I got filled at Just kind of testing that downside So I could use a little Bump up on my 65 Straddle to fill 20% I filled 20% It just takes all the pressure off Also so people ask When would you put in a third Tronch or a third Power hour trade I'm probably not putting in one Unless I get a third one Unless one of these would have gotten stopped out by now So There's 20 minutes left I would never put a third one on with 20 minutes left But let's say my first one Got stopped out 20 minutes ago That's when I would look To maybe adding a third When one is completely off That happens sometimes First one gets stopped out I've added a second Price has moved again Add a third But only two on at the same time So hope that makes sense Trade scout, your trade is coming back Into the profit a little bit Looks like You're taking some heat there for a little bit Are we not entertaining enough for you, Elliott? Is that what you're saying? No positions, alright I'll let it go then Hit my 20% on my Let's see That was on my 55 Straddle So ratcheting down my stop I wouldn't mind just hanging out here the rest of the day I need just a little bump up And then it can come back down Because again if I could fill that 20% profit on my number two Then that's guaranteed a scratch trade Or small winner Yeah, so Datalus So if I'm in for 10 contracts I'll do like 5 2-2-1 For power hour If I'm in for 6 Like in the morning where buying power is more It's like Let's start with 6 and then 3-2-1 Or 3-1-1-1 20, 40, 60, 80 10 I go 5-2-2-1 8 I go 4-2-1-1 And all that will be in my presentation as well Say 20% on my 60 Straddle I'm getting close to 20% on that number two Which is key for me And we'll guarantee no big losers today I just locked in all winners Nice It's always, not always feels good Yeah, whenever Chad slides today Just to give him some feedback And so we're just Trying to coordinate a date here I'll be pretty soon Chad responded, alright February 8th it is my friends February 8th after the market closes So like 30 minutes after the After the market closes I'll post something about it But the big thing that prevented me From doing it sooner Is at 3 o'clock When the market closes I got to typically take off to go get my boys At their bus stop either that Or they can walk to their moms But don't worry We got it scheduled now Alright I should be hitting that Number two, and then it can just stop Where it's at or come down a little bit India Wow What's in India? That's where Chris is from Oh really? I didn't know that Alright Michael 20% You gonna trade from there Chris Or you take the month off Atta boy, I knew you couldn't hold out What's the hour difference? You guys didn't like my Fred Flintstone gift earlier? Still 52 million The final one comes out in 5 minutes Okay I should be getting filled here Hold on little buddies Don't go any further $5.05 is my fill And it's under that, come on Hit it, nice Chris There we go Filled it 480 Just locked in all green today So my 55 Is gonna get stopped out if we go much higher After I reduce my stop here One DTE still sitting at 40% Didn't quite get that 50 And he needs a little pullback as well So my 40% target for my number 2 Is $3.80 So that's what the trailing stop will be There's a nice little drop So I will close 2 more of my contracts After getting rid of 5 At 380 Back down to 60 That was 480 I got filled So looks like Did anybody trade normal power hour? Looks like you Had that one push it probably Would have stayed safe So normal power hour Probably would have done fine So far Yeah I guess we've only got 12 minutes left May hit a pinhead here though 40% hit on power hour Number 1 I don't know maybe I should just try for pinheads here 680 million buy side For the final market On close So it flipped Still a pretty small number I may get stopped out of my 55 If it pushes up Stopped on my 55 For a profit So I booked net of 430 on that one Getting a little bouncy Getting a little bouncy here Just got Filled on 40% of number 2 So on my last 60 straddle I'm going to put my limit At 3 bucks But I'll probably adjust it I'll get out about 5 minutes till It's currently trading at 9 bucks So it's going to need to come back Down to center to have a shot My 1 DTE still sitting at 40% I'm going to need a little bit of a pullback Otherwise that'll close out a few minutes Before the bell Wow today's going to be a big day 60% on number 1 Yeah That's beautiful So did you leave one open, Michael? That's right Come on down to 60 What's your sweet spot Chad? Well I've got a 60 and a 65 straddle Okay so you're right there You're in your sweet spot right here Yeah I'd take 4862 It might be a 5 figure day It's pushing Getting close to my exit time here And I got stopped out for a profit anyway Alright so I'm out of my NTT tranches So how many of those did you do today? 975 So that was my 1, 2, 3, 4, 5 So on my NTTs I Booked 900 on 1 2900 on 1 345 on 1 430 on 1 And 935 on 1 Those are just 3 lots 3 lot trades Number 1 got stopped out at 390 So nice winner And 60% on number 2 Still in the ballgame Still pushing My 1DTE should be closing About right now Here it comes Michael 6200 Nice Michael Alright my 1DTE got filled at 880 So I got 1 contract left It's to 65 Would be the pinhead So my final tally for the day On my bot trades A little over 9000 And then another 4000 ish On my NTT Good day kids, good day 3 minutes till the bell Yeah I mean I'm sitting at a pinhead If it's 65 9 of 10 contracts Nice theta Like seeing the paper trade Had a boy dick He's an animal That's a That's a low day for dick K Where is he at? Like some island somewhere Dick K he's got houses in a lot of different places chat Does he? The cyber treks on the way Awesome Nice That's something I want to get eventually is a 69 Camaro It's a bucket list purchase What I had when I was in high school and I sold it Wish I never would have sold it Am I going to get a pinhead here? Minute and a half I do have a order of 50 cents To get out of my last contract And $1.55 Is my trailing stop What's it trading at now? About $3 bucks $1.15 Did you get beast mode dick K? Or The founder edition Is that the model? 30 seconds Are you right there chat? I know $0.65 I don't know if my $0.50 will get filled A little markup into the clothes Oh there you go Very nice Your $0.50 did not get filled? No so $0.65 is where it ended $0.62 It's roughly $0.60 So it'll settle it Yeah $0.40 Yeah it'll settle basically Like you got filled at $0.40 Okay Because the market closed at $0.48, $0.64 and $0.60 Okay So my day Yeah Wuga had the 10 wide no stop go What we Depending on when you got in Could have pinned Okay so Five trades all winners Nice naughty dog Here we go $10,670 Very nice Alright all let's see live stream tomorrow Tomorrow is the 24th So chat will be streaming live in the morning With the mighty 90 and runners And then we'll be back for power hour Alright all take care See you tomorrow Peace