 Good morning. Good morning. Good morning. It's time to rise and shine. Good morning. Good morning. Good morning I hope you're feeling fine. Good morning. Get up. Get out of bed. It's time to wake up. You sleepy head Brand new day, and we can't miss out on that day to the king Get your day planned out to be at your best and you gotta make sure you got the right back test like this Sleep away make sure you're awake cuz we don't have time for fat finger mistakes and ratio condos Pain of bills to get those bills What's up everyone welcome to zero DTE live stream Wednesday, September 27th Looks like Lauren that must have been your first time seeing the intro Love it. All right guys got a little bounce going on after the sell-off S&P up 16 as that cup 45 rustle up 12 Dow up 108 Vicks down almost 4% so for me, I will be doing the AM ratio iron condor my Wednesday version and Then it looks like maybe a quiet lunch just before noon central and A p.m. Iron condor at 1 p.m. Central So as far as this morning goes the only thing I will be doing is the AM iron condor That's just that's how we roll in the morning Lauren. That's just how we roll. Oh Rick. Oh my gosh, Rick. I forgot about Rick How could I forget about Rick? Yes, I will be definitely be doing a Rick. I missed putting that on the update as well Thank you for pointing that out. That's why I keep you guys around Keep me keep me straight. In fact, oh boy. I never even posted the morning report yet. Did I? So Let me get that out. We're ready to go. Just never pasted it and posted it Yeah, for me on the Wednesday, I don't use a Vicks filter So first thing I'm gonna do is some long here 10 60 20 cents So I'll buy my long to start and then I will enter the AM ratio with my OCOs Then I will enter Rick Then I've also got a one two and a two three DTE double calendar That that need to come off this morning as well. All right filled on my longs Looks like we are going to be 20 30 40 45 wide what? Wrong account. Oh My gosh, I just bought my longs in the wrong account All right, let's try this again By some longs Just not with it this morning my friends. All right, buying my longs for the second time sure here we got 10 20 30 40 wide All right filled 40 wide at the at $20 and 50 cents. So I'm on the 43 10 calls 42 70 Puts I mean I still got in at 832, which is exactly what time the back test uses. So because that's not Terrible All right, so then for Rick, let's see how Rick is looking here. He's trading about 13 and a half bucks I order at 1375 for Rick not filled yet. Well, I'm waiting for Rick to get filled I'm gonna close my one and my one two and my two three One two is kind of a not a very not a very good one. There's a little bit of a loser there The two three is gonna be Maybe a scratch what we get filled that SPX a little bit of a bounce at the open. I filled it 910 on my One two just posted that in the calendar channel filled in Rick at 1375 to exit my two three Trying to get filled at 870 no fill Little bit 865 All right, so I'm out of my double calendars just posted those Yeah, I enter Rick at the open. Here's my Rick's trade 20 instead of 15, I mean, it's gonna it's gonna change the dynamics of the Of the profit to the upside. So I don't Yeah, I mean that kind of changes things so I don't I'm not sure Which strike you're talking about exactly but all right, so It's a little pullback so far Yeah, so my Wednesday my Monday and Wednesday, I don't use a VIX filter for the AM ratio I do the same one on Mondays and Wednesdays No, did case special today for me Volatility crush so I've got a 50% profit target to take off half 80% close the rest I got a $20 trailing stop on this one if I take off half I'll move the stop from 20 to 10 No, Rick is just ride or die Murph dog. I just put it on and Put in a profit target of 30% So I got in at 1375 was 0.3 1375 equals 17 Call it 1790 So my profit target will be 1790 and what I do is I like to close four of five Four of my five if it hits and then I'll On a discretionary basis decide what I want to do with that last one I want to let it run or sometimes I just take it off at the same time, but Yeah, we're just yeah close the whole thing the reason we only manage the shorts on a Short iron condors because that's where all the risk is and a lot of times our longs don't have any bids anyway This is this is Completely different see the volatility is really getting pumped in here. So in this case waiting on Rick Would not have been the best option at least so far and and here's here's how I look at that I mean if you're following a specific back test that says Get into Rick it 950 or 1015 or whatever it is. That's yeah, totally cool. I just to me you know Just waiting because a lot of times you see some decay come in before it hits before it runs I Don't I don't like to play that game because I mean You know, maybe you save a few pennies on getting you in but then if you miss a $2,000 winner, you know to me That's not worth it. So on the calendar today Wednesday the 27th, we've got a I guess there was a FOMC member that spoke before the bell a couple of non non-market moving things today and Then tomorrow we've got an FOM speaker ghouls be at 8 a.m. Central FOMC member cook speaks at noon central and J-pow speaks right at the market Right at the bell when the market closes That was nice of him. Let us get through power hour before he starts blabbing tomorrow. Elliot. I've seen I've seen it Multiple times. I mean not not a ton, but I've certainly seen it Hit pretty quick. It's been a while Laura's Rick plan today enter at 1015 Eastern Gotcha. I also don't I know some of you a lot of you guys do this. I I also just use the same Same Rick for every day the week. I haven't I haven't Discriminated on day the week for Rick's the criteria sets up. I just trade it So if the premium is getting pumped into the Rick I'll just and there's a little premium getting pumped into my ratio as well a little bit Tgif and spx is liking this little bounce for about 17-18 hundred on that one How's our NDX one with my little butterfly adjustment and then a little bit Had I not added the fly Seem it would be in the profit up a little bit with the adjustment down a little bit But I'll plan to take it off tomorrow So we got into that Tgif at 855 so 30% would be About 1115 it's currently trading at 10 bucks So if we get a push up to center Be able to take that off early then be a pretty pretty big push higher, but let's see what else we got going on 6e just continues to go lower Little bounce if we get a little bounce we would hit our profit target, but keeps dropping Oil up almost 2% see where our puts are on our oil trade Close let's see we got into those puts at a buck o4. Yeah, we're about 50% here Right at 50% I'll give it Give it some time Our QQQ duck is appreciating this bounce. Let's hang it in there for us. We need a little bigger bounce That one expires on the 29th. So that's on Friday So we're gonna hang on for a couple days here in the cues if that one's gonna Hold up. Got a time fly on looks like it's at profit target About five or six percent Yeah, and that that was that was definitely the the IV but it doesn't happen every time like You know every time implied volatility, you know every time the VIX contracts. It doesn't mean that the You know a B&B like that's gonna be a loser, but it's you know like with any calendar It's always based on the differential between the front and the back You know we want if the front Decays faster than the back Then that's when it benefits or if the back options if the long options expand more than the front Then that benefits a calendar but in this case the The uh Longs contracted In relationship to the shorts more. So that's why that was a loss even though it was it was dead centered Little chop chop choppiness in the old spx so far tight range See expected move was about 23 and a half to start the day So about 06 on the upside 59 on the downside I'm gonna put in an order to close our time fly. Let's see what we get into that one at 310 About 6% If we got out at 360 I'm gonna put my order at 370 See if that can get hit Yeah, this is volatility is certainly holding here I mean even with this 5 10 15 20, you know Almost 25 minutes of the market being open. I was still better off getting in rick at the open today, which Normally not necessarily the case, but these options are holding some value It certainly appears that way wuga Certainly appears that way Trying to figure out which way do we want to rip today? My guess is lower Just hang on and You know hit first profit target on the am ratio first. That'd be ideal But you know, I don't always get what I want my friends. That's the Just one of the downfalls of life I wish I could just get what everything that I wanted, but I just don't the market just doesn't give me everything I want Got a couple of vxx verticals on the one that we put on yesterday Is pretty much right back to where we got in We need some more contraction on the one we put on last week down a few percent today Well, my friends, I am uh, I'm gonna jump off here early today Unless you guys have any uh, any other topics or questions or anything else that you want to cover As always, we will be streaming for power hour live at the end of the day I'm gonna plan on putting on a quiet lunch at 11 55 central if that sets up and also a PM iron condor at 1 p.m. Central for tomorrow So Here's my thoughts on tomorrow so we got We got j pal speaking after the market closes tomorrow We got gdp unemployment before the market. We got a couple of fomc members speaking during I mean thursday is a Pretty light day of trading as far as the strategies that I trade anyway. So we'll see what sets up. I mean Yeah, I mean, I'm just gonna trade my thursday plan as it sits in my in my trade plan that you guys have um, the good news is pal speaks after the bell so No, uh Nothing No issues there So, yep Thursday as usual All right, my friends. I'm gonna jump off here everybody. Have a good day And we will chat with you soon See you in power hour