 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 Now 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 Start the show, come on trade hackers, get ready to options Make bank, get locked and loaded, then be ready to play Also closed out some JSP's this morning, 50% And closed out half my duck at 20% Still in the remaining half, so we'll see If this market starts heading south Let me have a shot at a duck head Would not be good for power hour Speaking of power hour Low, low, low, low premiums That's a special kind of honey, Ken, I've got bees at my place And it flows really well, so it's just good You gotta get the special kind of honey Yep, looks like my head and shoulder breakout to the downside worked out Just as planned, already took profits on my short futures that I had In conjunction with that head and shoulders short What, you guys don't believe me? I had ten shorts, just closed two of them out You guys thought I was a probabilities trader You didn't know I was such a technician Okay, couple minutes till trunch one Probably don't need any, I don't need any longs I'll use some longs from earlier trades Give it another minute and a half before I enter trunch one SPX getting a little something going to the downside Pushed up, a little beyond the expected move for the day And now we're coming back Coming back down, let's see, we opened down at 44, 45 Got nine points above that currently And just got stopped out of the rest of my quiet lunch for a profit We'll move lower We're getting a little something going to the downside, my friends A little something, something going 44, 50 straddle is the trade for power hour 44, 50 straddle, trying to get filled at 630 625 Filled at 630 on trunch one, 44, 50 straddle This SPX caught a little wild hair there for a minute Let's see if we settle in So that should have pushed my duck down into duck head territory Let's see, nope, not quite I get to about 70%, though Per my back test, I do need to reduce my stop on the ducks I'll keep an eye on that Some quick little decay Oops, let me uncheck these Oil pushing up above 91.5 bucks a barrel Not bringing any volatility into the stock market, though At least not for our zero DTE options We need oil at like $300 a barrel I think that would do it You guys good with that, paying for gas If we can get some volatility in the market Yeah, just buy an EV, exactly Buy an EV with all the profits that you make From high volatility That's good fair trade You're helping the environment It's a win-win for everyone Oh, they would love it You kidding me, Marthenus? They would love it They'd be telling their kids My dad used to take me to school on a bicycle It'd be a good memory Creating memories Such a win-win They'll never remember going to school in a car Every kid does that Another leg down here The old head and shoulders Neckline, Bray, come tellin' ya Told you guys I warned you Yeah, we can just all charter Dick K's private jet It'd be good I was looking back through my April So in April of this year That's when I first started Really trading power Pretty close to the way I do it now And in April, I booked I think it was like $36,000 I was looking through my trade logs And it was kind of Going month by month Trying to see how Profits and things like that If you guys remember For those of you who were Hanging around at that point My trade size in April Was six contracts on Trunch 1 Three contracts on Trunch 2 And one contract on Trunch 3 Now I'm doin' 10, 16, 14 And in that month When I was doin' 6, 3, 1 I did over 36,000 profits just on Power Hour Just with that trade size That, my friends Is implied volatility at its best If I was trading the size that I do now In April I don't know, I may have had a 200k month But the good news is We will be prepared As soon as the oil hits $300 a barrel And volatility is Elevated for a period of time We're all gonna be ready We'll go always coming in with silver lining Yup, that is correct, sir Tomorrow, nothing on the news front Scheduled And then Wednesday, of course, is FOMC For tomorrow As far as the live stream goes We will be live streaming at the open As well as for Power Hour And then for Wednesday We will not stream in the morning We will not stream for Power Hour We will stream during the FOMC So about 10 minutes or so Before the data is released And then we'll stream a little bit Into Jerome's presentation Which I'm pretty sure is gonna be Exactly like last time's presentation But there's gonna be a couple words changed around Yeah, that's pretty interesting We'll give it a 5 wide Was so much lower than the others I assume that was used buying 5 cent wings, right? Right, data list, but the straddle Is higher Higher win rate Higher return on margin Yeah, I would say it's just a I would say that that probably grows Bigger than the straddle over More trade occurrences 10 cents, gotcha And it's interesting that the 20 wide Was lower than the Or greater than 20 wide was Not as good as like the 20 wide Or the 10 wide SPX getting a little bounce A little bounce in its step But data list, the straddle is Defined risk too, I mean this is buying the wings It's just buying the wings on the straddle Buying the wings, you know Buying the wings is With all of those as well The straddle is just referring to Using the same strike Alright, almost time for TR2 Got my longs for Tronch2 If it holds here, it looks like it'll be the 44-55 straddle Yeah, I don't know if you have that back Test handy, that might help Yeah, so this is Tronch1 $4 credit on each side $4 trailing stop 40% Set stop loss to 3 Exit trades 5 minutes till So then you went through and you did the same thing Are you You sorted this out in your spreadsheet For when it was a straddle When it was 5 wide, when it was 10 wide When it was 20 wide, when it was plus 20 Another minute here Looks like it could be It's a tweener Give it a minute Looks like the 55 It's right between Gotta make a decision What's it gonna be, what you're gonna do I'm gonna do the 55s Slightly closer At last glance Tronch2 Straddle Trying to get filled at 5 25 Filled at 525 on the 55 straddle Alright Between 50 and 55 Is the sweet spot For the first two tranches 25 straddle That's what I did for Tronch2 Check out some other positions here Got a couple of time flies That haven't had Quite enough decay yet This one on the SEP 29 Expiration We're getting close to 5% It's kind of jumping around Right closer to 4% Depending on where you get filled So I'll hold that one The October 5 No decay on that one yet I did do a new TGIF today Let's up it a little bit Hopefully we get a nice vol crush And it stays within range after FOMC Those tend to pay Pretty well Unless there's some crazy Crazy news out of the blue Or a crazy Change out of the Fed We've also got a 6.7 on That's doing well I'll take some off if I get to 20% Which would be 505 Looks like it's currently trading At about 485 Or 490, so it's not quite there yet The 1-2 I put on this morning's already up a few hundred bucks I might take some of that off I did a little bit bigger size on that one With the intent of Potentially taking some of it off today So we'll see where that one is After about 20 minutes or so That would do it, discount That would do it That would pump a little vol into our Options, I think But we need something that's going to Provide sustained Premium In our options Like oil Over 300 bucks a barrel I'm looking for something long-term So we can really just milk this thing 5 minutes Until tranche 3 I hope this wasn't a little bounce Before another big leg down Buying my longs for tranche 3 Right between strikes here Looks like it'll be a 55-50 Strangle Or if it moves towards a strike We'll get another straddle Give it another couple minutes here Very nice discount Tradehacker mug Looks like it could be another 50 straddle For tranche 3 Price bounces 55-50 strangle Does anybody hear background noise At all I've mentioned this before But I've got some renovations Going on on my building here And it sounds like they're drilling on concrete Alright good It's loud to me, but as long as you guys can't Hear it, that's good Alright, 50 straddle Tranche 3, here we come 44-50 straddle Filled at 50 and 4-55 44-50 is the sweet spot Anywhere between 50 and 55 Would be just fine 49 and 54 Bounce off that 44-50 A little bit again Are we already there for tranche 1? Tranche 1 I got filled at 6-30 So 3-80 Tranche 1 I'm looking for 3-80 He's currently trading at 4-40 Do they get down to 3-80? Tranche 2 At 5-25 At 3-15 Tranche 2 Over on that 44-52 level It comes back down closer to 44-50 Should get down to 3-80 That little drop happened right before Power Hour today my friends So far anyway Tranche 2 I'm looking for 3-15 He's currently trading at 4-50 4-40 He's at the 55 strike Tranche 1 back down to 4-20 4-15 He gets down to 3-80 I'll change my stop on Tranche 1 To 6-80 Discount SJ is admiring your keyboard That does look nice and sleek It's not your typical Apple Discount must have muted me Got tired of me talking Must have checked out for a minute Been having the runs, he had a run to the bathroom I'll be back Post and Ghost Tranche 1 down to 4-05 I saw $4 20 cents to come out 3-90 3-85 3-95 Going right down to the strike Price dropping Keeping the premium a little bit Not giving us our 3-80 yet Just a little Half point bounce to suck a little premium out 3-85 3-80 There it is Reduce and stop on Tranche 1 Now we can bounce back up Closer to 44-55 So I can reduce stop on Tranche 2 There he is He's back We thought you were doing something else We were just making fun of you behind your back No big deal Maybe you had the runs You got Meach in the house today What's going on Meach Almost had me on mute Like usual 23 minutes until the bell Market's feeling heavy My friends, it just feels heavy Is that specific for traders? Yeah, it's cool Until you have to clean it I'd probably just throw it away And buy a new one every time Yeah Allison's like, alright guys Enough of the portable pooper talk Let's get back to TGIF Yeah the TGIF is up a little bit Great for the market End of day imbalance Still got my short futures working Started with 10 Scaled out of some Added some more on that little bounce You guys know how I get with those head and shoulder breakouts They get me fired up Yeah we could use a little bounce here That'll make you want to click off the page Let's get this on here for everyone to see Can't get away from it You clicked off Discord but now it's on my screen Just a little Just a little two or three point bounce Nothing big Let's see My 6.7 DTE Is getting close to 20% 505 Would be 20% It's currently trading about 490 There we go It's working Not too much though Calm down Alright where's Tronch2 at Tronch2 I need 315 And it's currently trading at 440 It's got to get closer to 44.55 For that one to get reduced My 6.7s are at 25 DTE That's where I take those at 44.52 Is the Tupac That's what we're looking for That's perfect Tupac Shakur Magnet I'm going to close some of my 1.2s As well My B&B 5 of 9 on my B&B Just posted that in the calendar channel Meanwhile We've got 13.5 minutes Until the bell for power hour Bounce didn't last too long Just hanging around that 44.50 At this point Doesn't look like we'll reduce our stop On Tronch2 Let's bounce up closer to 44.55 In the next few minutes Alright a little over 10 minutes Until the bell A little over 5 minutes until I bail Just needs to hold right here For just a couple more minutes Just hold on Little buddy No need to go anywhere Yeah it all started When I was a kid, Dick My little make-believe friend Alright so Tronch numero uno That to 240 Tronch number 3 Is also the 50 straddle That to 215 Tronch number 2 Which is the 55 Straddle I can get 450 Hitting 240s So I'm out of Tronch 1 at 240 I'm Out of Tronch 3 at 450 Those hit a little earlier than I anticipated I've got So I've got Tronch 2 left Trying to get out at 215 It's the 50 straddle It's right there It's right there for the taking It's touching it Flirting Didn't fill Got about 40 seconds until my There it is Just before my 30 seconds Before my exit time Beautiful You know This is one of those days Where you go in thinking Ugh These premiums are so low Just don't know We've already had a quiet day Is it going to move during power All those things that we think about Right But ended up being Okay Tronch 1 got in at 630 Out At 240 Times 10 contracts Tronch 2 Got in at 525 Out at 450 Times 16 contracts Tronch 3 Got in at 450 Out at 215 Times 14 contracts Awesome Nice, Marthenis Yes All right, good stuff, guys Tomorrow morning We will be streaming at the market Open, nice, Wuga Best day ever, nice Nice, nice, nice Love it Radic 12 trades today All winners Very nice So yeah, tomorrow morning at the open I'll be streaming for 0DTE And then we'll be back again for Power Hour All right, I'll take care Have a good one