 Good morning, everyone happy Wednesday It's Wednesday, January 24th, 2024. You got some green coming in today Netflix that earnings yesterday and I'm just sick to my stomach this morning because I was talking about this yesterday in the live stream, but I had seen on the I had seen on One of the business channels early yesterday that Netflix was gonna blow up the earnings. We're gonna be outstanding and so Like I can I can risk a little here. I bought a call one call for 2105 so my max loss would have been $2,105 and I thought I'll just hold this through overnight see what happens and then Well, I chickened out And I ended up closing it Yesterday afternoon for a couple hundred bucks and now Netflix is up 50 points so Just chickened out on it But man, I was like when I placed it. I was like I if I lose $2,100 like I'm totally fine with that It's not a big deal, you know So the reward was way better than the risk, but for some reason I just chickened out I'm gonna take a look at that. I want to take a look at that call. It was the 485 call in Netflix Yeah, the premiums were high and I know that you know the ball crush would have heard it But still it's 50 points higher, right? So yeah, Tesla today. I haven't heard anything about them, but At least not as much. I've read a little bit about they're not expecting the earnings to be very good but yeah, so I Don't know. I'll do that or not. But you know, it's like what it's one of those things where it's like Just buying one contract and you know losing for my account How well I've been doing with zero DTE? It just wasn't gonna be a big deal if I would have lost $2,000 and so I Should have should have reconsidered that before I close that out Yesterday, but so the Dow is up 114 Nasdaq is up 154 S&P is up half a percent Yeah, Netflix The interesting see if it just levels out here. What there is the bell Check this out the 485 call it would have been 5500 It's at 5154 50 right now So what a bit about 3,500 bucks, maybe I Bought it for 2210 Now I did the ax I was just talking about that I chickened out And closed it yesterday, so it definitely didn't make as much as I thought I Would have but because of that ball crush, but still Yeah, it's at 5605 now. I would have bought it for I bought it for 22 or no 2105 is what I got it for 2105 and it's at 56 now I bought it at 2105 is what it what it was what I bought it My Netflix call that I ended up closing out So what a nice winner. Yeah, man. It's just you know is what it is Netflix added 13 million subscribers. That's That's crazy. So Netflix Netflix bid ask like the prices are pretty steep now like getting up to 540 bucks For share Vix's only down It's not even down a percent yet. So Netflix up 54 points 485 calls now worth $64 man, I would have yes, I would have made a man. I've made some good money on that So it's gonna be interesting to see what happens here if markets say strong or if it's just an initial push-up and then rolls over the Rick could be in play with a S&P being having an overnight was up over Quarter of a percent, but I'm probably not gonna do that The problem with ricks for me I've found out is they get in the way of adding my iron condors throughout the day because it takes a couple short strikes and so I Would rather just trade my iron condors than put on a Rick. So getting our second volume bar here Trading the two DTE today two days to expiration Roblox kind of has a growing volume bar Besides that that's all I really see Netflix still pushing up Man, oh man I'm an idiot. Don't know if Roblox is gonna get there. So Nothing really looking promising at the moment 6895 So not really seeing anything here that I'm interested in That's what kind of ripping up here Look for some mighty 90s here now still going It was less last week and a half or so. It's been a little tough to get some mighty 90s and volume runners Just some stair stepping down in volume That's a few futures are kind of pushed down actually. Yeah futures have pushed down here a little bit at some point I expect Netflix just to level off Pretty much all stair stepping down in volume. So that's not really conducive to Mighty 90s or runners There's just some chop here with some of these Roku Amazon meta Tesla tried to get up through pre-market highs and get rejected I kind of wonder if at some point this market will pull back even it's at all-time highs You know Netflix can't carry everything APOW coming down Yeah, typically typically There's usually one or two volume runners by that second bar See the VIX Coming up a little bit, but it's not like it's Ripping up or down just stair stepping down volume Most of the indices have come down since the open a little bit Metta trying to push through highs of day Or through pre-market highs I wonder if Netflix will level off here now I'm gonna have to look for some continuation runners today We're not gonna get any mighty 90 or volume signals Roblox stand strong None of those are volume runner signals though. So just send me patience Metta really pushing up here I wonder if meta is gonna get a mighty 90 maybe so meta It's like it's gonna get a mighty 90 meta I would trade the three 392.5 puts Try to get filled at four bucks. That's a little melting down AMD getting a potential mighty 90 or Volume runner me check AMD here. Yeah AMD Bars not as big as the first But it's darn close So I'm going to pass on AMD didn't quite get there according to thinkorswim So I'm passing on it Built at four bucks in meta on a mighty 90. That's the 392.5 puts See so I would close half my meta at 440 and AMD still pushing Wow, look at Nvidia. Nvidia actually has a mighty 90 Melly, let me look at Nvidia here. Yeah Nvidia I would trade the 610 puts Trying to get filled at 725 Really liked Nvidia because it was coming up to this pivot You know what actually I'm gonna cancel my Nvidia before I get filled Filled at 440 those half of meta Okay, so reason I just went ahead and canceled my Nvidia is because I can see this bar is growing this volume bar, so This early it's looking like it's going to be a upside volume runner that continues to go up So I'm not gonna mess with Nvidia They asked how to decide if mighty 90 or volume runner. Have you have you watched those courses deox? so In it's very clear in the course the mighty 90 and the volume runner I mean the volume runners bar bigger than the first in the same direction Mighty 90s volume bar bigger than the previous I would close another meta at 480 Now volume runners in mighty 90s aren't our opposites. They're two totally different trades So AMD has a big volume bar to the upside here Nvidia. I don't know if it's gonna get there now Nvidia yes, it's that's not gonna get there It's like meta is gonna give us one red bar Yeah, I'm just gonna stay away. I'm gonna stay away from Nvidia even though it's a mighty 90 signal it Kind of looks like it wants to go postal here. See al piero. We don't mess with Netflix. No Well, I mean it's got to be it's got to give me a mighty 90 or a Continuation runner a volume runner signal before I get in Cody, how do you determine the 480 on Netflix? I don't remember in the course Yeah, you mean You mean meta I scale out every 10% Yeah, scale out every 10% So meta hasn't given us two consecutive reds here yet Futures are kind of starting to settle down here a little bit Roblox coming all the way back down Meta coming meta may give us a second red bar here Roku coming through loads of day a little two-way action going on here with You know some Microsoft pushing up Amazon coming down Roku down and video up like to see meta fall apart here But I may not so meta got about Minute and a half left here. So we're so good Iron condor is setting up. What do you mean by setting up Krish? Yeah, I mean Really, it's like it's really up to I mean There's no like exact time to enter so it's kind of it's discretionary obviously but I mean as far as the Delta goes it would be at the 4900s and 4875s probably But I have to clear I know I've got to put it in and look at the analysis of all that before I actually take it I always like to check that analysis tab and see if I if I'm centered in my skewed a little bit Maybe depending on what price is doing In terms of price movement. Yeah prices kind of settled down last 15 minutes here so I'm gonna wait like five or a couple more bars just to Make sure it doesn't have another push in it Okay, so we got we got two red bars in meta so Let's see what it does here Now two two consecutive red bars means we close the mighty 90s. So if you want to close yours go ahead It's kind of setting up like it might want to be an upside continuation runner So, you know big push up kind of a pause here if it doesn't If it doesn't push lower here I actually Doesn't if it doesn't push down lower here I'm just gonna close it but the rules say to close it now. So If you've got a winning trade right now like I do I would you know By all means close it and it is still Pushing up here Sometimes I'd like to leave a little piece on in a mighty 90. Like maybe I'll close all with maybe a couple Contracts and just see if it'll run You know, I've got three contracts left. So I'm gonna let it Let it see if it'll run here so far. It's It's working Yeah, see krish. This is why I waited see how it's pushing again So I want I want to kind of see if there's um I always like to see at least two pushes typically. I mean yesterday was an exception because yesterday it chopped out of the gates But this is exactly why I don't enter at nine o'clock or earlier And what else we got if it looks like meta's gonna come up here from this point on I'll just close that mighty 90 You know, I mean, that's just that's just me like watching price movement for Two and a half months of doing doing that trade And just noticing there's usually like two pushes. Oh, I'll I'll I'll be trading the am iron condor for sure dark avenger I'm I'm totally fine with the volatility. All right, I closed my meta at 428 filled at 428 That mighty 90 see it looked like it wanted to Wants to push back up So really no harm in holding it there I could have closed it down at the bottom of that third bar would have been better But you know is what it is. I just don't trust amd. I mean it's kind of setting like a Upside continuation runner. It also had a big volume bar. It's pulling back a little bit But I don't know this market being At all-time highs I could see at some point today we get some Downside action So i'm just not gonna Jump in for the heck of it Yeah, so amd was a volume runner because of this bar right here was bigger than the first Even though it's opposite direction. That's okay because um Now if it was the if it was the very second bar And it was green and bigger than the first that would not be a volume runner You want those to be the same but once price has moved And once, you know, there's been some time that has passed It doesn't really matter just you just want it bigger than the first I mean to be honest with amd really is setting up nicely here as a upside continuation runner too big push Little pause three bar pullback push up So, you know a continuation runner could be a low risk trader because if it pushed below right here Or that Second red bar is that price point you just you just That would be your exit you would just get out of it. So it'd be a small loss if you got in right now In fact, i'm gonna go ahead and i'm gonna jump in this amd 172.5 calls See, you know what i'm gonna I'm gonna wait Because it's only been one minute into this bar. So I want to wait I want to wait until it gets closer to the To the end of this bar Because the end of this bar could finish down here at the pivot You know, if if the end of the bar was in the next 30 seconds, I would get in right here But because we're just in the second minute of this bar. I'm gonna wait So if it can hold right there And you know, it's in the last minute of the five minute bar, then I would jump in I've dark Avenger. I've taken 20 wide iron condors in the morning And booked profits the way I trade them. So that's Really irrelevant to me honestly but You know, that's that's why you know Trading is unique and it's everybody's choice You have your own choice on the trades you place. I mean, I've had two red days since october 1st Okay, so amd trying to pop back up here. So i'm not gonna take it now. So, you know, I just didn't like it I wanted to wait until Got a little closer to in this bar and it's it's leaving without me. So I'm okay missing it. This is That's part of trading See good out meta there futures popping back up So before I enter my iron condor, I'm gonna kind of see I want to see a little bit of price Solidation here good out meta That's why you get out after two red bars on a mighty 90 But this is a good example if you if you want to know what a continuation runner looks like I mean amd is it push up You know some three nice pushes there Actually, I got a big volume bar A little two bar potentially it was a three bar pullback and then Balance again and then continue upward Now I would want to see it in the next bar to push through highs of day I don't want to sit there and chop and look at roblox push up All the way back down square struggling Microsoft strong Nvidia man, I'm glad I didn't get in front of that train netflix trying to just kind of settle down here a little bit Microsoft Long what do you mean? So what what would be what would it be a mighty 90 here a volume runner or a continuation runner? with microsoft long like for anybody it's new like If if you uh I love it when people post in the discord But when you post in the discord posts like what strategy you're talking about because otherwise People that are new they don't they're trying to learn continuation runner So for a continuation runner we would need to see like a two or three bar pullback like amd So when it was up here And you posted microsoft long so We don't get in on a long when it's pushing up So We would have to wait a couple more bars to see if microsoft would give this type of setup for a continuation amd still consolidating which is still a good sign that it might that it's going to push up So for continuation runners, we have either a little pullback Or a consolidation like this I mean it's just important for people to know like we don't get long or short Just because we think that's the direction the stock is going Like we're getting long or short based on the signals. We're getting if you see a little consolidation to the downside So, you know square just kind of consolidates here could be a downside continuation runner Yeah, so tesla's got earnings today. So i'm just kind of staying away from tesla Uh, it wouldn't be a continuation runner because it's already pushed up too far Like you don't want it to push up more than about right this price point here I mean you could see an nvidia Like it didn't come below where this last big push was See that I'm sorry amd amd so it didn't If it would have pushed below this point here, it's not a continuation runner So so not a lot of options to again I mean amd would have been the only other one I probably would have tried to go in at Let's check So futures popping back up Yeah, so I need to start probably looking at an iron condor now So It's a vix coming down Okay, so my iron condor I'm gonna look at the 4900 And the 4875s 50 point wings I got something wrong there Okay, so 540 It's my See I get filled at 540 It's not looking like it's going to now. I'm gonna cancel that because it's down to five bucks So I'm gonna give it a second here and nvidia. Wow Microsoft pushing highs of day. Let me get back to I'm gonna let it I'm gonna wait here just second criss because Just kind of pushing up. I'd like to see it kind of Calm down here Amd hasn't broken out yet. So About just a minute on this bar Yeah, I mean it kind of Really really it's gotten two pushes honestly. It's got that push It's got this push down Now it's working on its second push So so for me like again, this is how I The difference of what I do compared to Steve I like to see the two pushes so It just wasn't quite done with that second push yet If that makes sense Why do I say what it was not done with its second push? Because look See this red. Look at my screen. See this big push down And now it's still going up Yeah, that's I mean, that's why I say that It'll tell me it's done when it's level off for you know, 10 or 15 minutes And so that's one thing I have said in my You know or since I've kind of been answering people's questions and you know that I'll be in my presentation was I you know, I'm really looking for two pushes Well, this is one all the way down And now it's completing a second push right now well, I mean Yeah, because this bar pushed above the last one, right? So I want I want to see it can start consolidating then get in Like look look at the look at the last three green bars Okay, push up the second one push up and got higher than the previous Third one push up higher than the previous. So there hasn't been no consolidation on this push yet So now if this one kind of just sits here now it'd be about the time to answer Well, I mean, I guess you could say that I mean that it's not the verbiage I would use my verbiage is Is what I'm using I want to see it consolidate um And not not have pushed above like if this one Like if it pushes up if it would be up here above right now, I just keep waiting I mean, I guess that's probably a good a good way to put it that verge used you want it to stay within But it's not just with this one like I'd like to see maybe one more kind of just consolidate I guess in video man. It was just really jealous of netflix, man Just wanted to rip interestingly enough amd If we would have got into that upside continuation runner really would be Wouldn't be getting it pretty flat right now You know when you have these when you've got the markets when they're up big or down big You know What's the reason we put on a rick we put on a rick when there's been a big gap up, right? And we expect we then expect price to move one way or the other Quite a ways, right? so On those days where you have these gap ups or even the for me the big gap down I'm waiting a little bit maybe longer to enter an iron condor To see where it's going to maybe price is going to settle Because at some point it's going to settle down a little bit And then when it does settle You want to you want to you want it to settle long enough to book 20 profit because then you Worst you can do is a scratch trade You know it may then move on your first one You don't test one of your sides And that's when bam you put on a second one centered all right, so we got like Minute left on this one starting to settle down a little bit So I'm gonna let this bar close and kind of see what this next one does And if the next one kind of is just sitting there then I'll enter And you think about it. There's really no rush You know sometimes it's a rush to enter a mighty 90 in a runner because you don't want it to leave you But when you're doing these iron condors, there's really no rush because You're doing them throughout the day, right? Whereas the mighty 90 and runners like you're You know these are 15 20 minute trades Whereas this could be a couple hour trades. So I'd rather be a little patient Then rush it So it's kind of like changing your mindset you go from trade mighty 90s and runners where Oh, and I got to get in here because I don't want to miss it to Well, you know, I mean, I'm not really going to miss anything here if I don't If I wait five minutes So if this if this continues to push above That one then I'll just wait if it kind of just starts to chop Then I'll then I'll get in and as the heck it's it's gone through highs of day I thought at some point here this You know the Netflix wouldn't wouldn't be able to carry this entire market, but Dang pretty incredible Okay, so he keeps kind of getting forced down here. So I'm going to look at the same 49 hundreds I'm going to wait until it gets close to the end of this bar But I'm going to get it ready 4900 calls 4875 Puts 50 points wide Yeah, it's only 515, but I see I'm just going to wait here See if it breaks through there Still has two and a half minutes Yeah, I mean I'd like to see two pushes We're here it's pushed down now it's pushed up and now I want to see it start to consolidate I'm gonna I'm gonna it's going up here. So Give it a sec. I'm going to go with the 40 940 880s 4900 4880s Get a little more premium And I can't get filled Gosh dang it I'm gonna go 40 points wide All right, I went with the I probably should I went with the 4900 4885s, but I should have done the 4880s So if I was you I'd do the 4880s. I just clicked the wrong one But oh well So 4900 4880s or 4885s, but I definitely like the 4880s better. It's Clicked the right button. So oh well, I mean It's only five point difference But you could get you could have gotten over five in premium using the the 4880s and gotten wider you know, so All right guys, I will um See you guys in power hour today. Get you later. Peace