 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 trade it, have success, find what works for you and forget the rest Stats and probabilities is one of dismiss, greed and doubt Focus on the process, not the money L-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 everyone, welcome to Power Hour Live, Thursday, December 14th Hope everybody's having a good day S&P up 7, Nasdaq down 39 Russell up 44, Dow up 78 Gold and silver, big move higher Gold's up 2.5%, silver up 6.5 Notes and bonds higher, 10-year yield down over 2% Down at 3.939 Oil up almost 3%, same with Natty Gas Grain's a little bit higher, Euro and the pound higher Bitcoin, slightly green Vicks holding a bid at about 12.5%, up 2.5% And we got ourselves a real straddle A real live full boat straddle None of this inverted crap So I will be trading my normal power hour I liked it better when SPX was even down below 4700 But I'll take it, I will take it Little pullback off the top, Russell was up even more I pushed above that recent high from back in late July Retraced a little bit Still up over 2% on the day though Nasdaq the weakest, slightly in the red But my bots are on, ready to roll Trench 1 will come in here in about 2.5 minutes Yep, normal size for me The only thing I did today was a Little small size discretionary rick And that hit, closed 2 out of 3 At 30% and then on that last push down I closed my last one So I booked about 1300 on On my little discretionary rick So Wuga was your, was your bot Just selling the shorts then I guess I haven't done that so I'm not Haven't bought the longs manually and then Tried to use a bot with just the short legs I'm not sure why that would matter but Okay so you have the bot buying the longs too Interesting, and your bot, bot Same number of longs that you were using on the shorts So you're completely covered Huh, I'm not sure why that would be Good to know though Is that the, have you, has it worked before Or was this your first time botting it I is my bot not firing Tranch one normal day Oh yeah, I moved it to I moved it a minute later Dick Kay persuaded me to move my Tranch one a minute later Actually two minutes so here in one minute It'll start coming in Should be the 17, or the 17 Should be the 15 straddle We're getting close to down day territory But it bounced right off that level Like I jinxed it by posting in the community That we may have a down day Cause it immediately bounced Alright here comes Tranch one filled at 780 47 15 straddle filled at 780 So at 470 I'll start trying to reduce my stop Vicks got up to 12.74 today Back down to 12.45 now Yeah it feels like it's been a while since we did a Had a real live power hour A real one I'm closing out my TGIF today Unless we get a swift move lower That one'll take a loss Alright what else we got going here So entered a new time fly Both the fly and the diagonal In one structure Very little risk to the upside Our D-29 It's hanging out in the upper in the range It's down but It stays in this area between now and expiration Should be able to book a profit on that one And our D-22 I was looking at a couple different things today I was looking at potentially taking off the butterfly And moving it closer Or just taking off the butterfly all together But I didn't really like the risk So I'm just holding for now Got a hedgehog and ES Just put that one on not too long ago Short strangling gold is up a little bit After adjustment MES we adjusted About break even up a little bit Natty gas is up a little bit Yeah I think it makes sense to do them that way PT I mean you do have the risk of volatility Contracting and the TZ airline Kind of sagging in the middle Which will happen on those But as we're seeing today Even just a little move lower It looks like it's going to pop volatility Which will work in the favor of those Continue trading those at this point for a while Traded a little bit of futures today Booked a little $387 profit on Bitcoin I also traded the Russell to the downside I had a nice profit I've given that back plus some So I'm down a little bit on my future A few hundred bucks on my futures trading right now Oh yeah Maro how does IB Differentiate between the PM and the AM cycles Seems like I could get that question quite a bit From IB folks Like TOS makes it pretty clear They have a little AM on the option chain Oh they do have it okay You know decent amount of little decay already On our straddle No I'm not going to take my TGIF till tomorrow Especially after FOMC Get some pretty wonky IV action Typically not in your favor I mean I guess it depends on where I'm at now Now that price bounced back up I guess pretty close to Depending on where I'd get filled on this thing I was looking at it when price was already down About seven bucks Yeah we'll see where we're at Towards the end of the day If it's here lower I'm going to Definitely close it out If it's higher and I'm almost at You know if I'm not able to get much more than Max loss I would hold Because there's no reason not to then But there's definitely still a reason to close it now Yeah trading naked I don't trade Any different on option expiration Can you show me where I find The time period menu with a picture Are you talking to me Eves Or are you talking to somebody else Alright five minutes till trunch Number three Or two excuse me Getting ahead of myself Yeah thank you Hey Ken By the way I think I was a little confused On your question earlier today Yeah the reason I use the gap Is just because that's what we can measure With option omega I don't know if you dug in a little bit deeper To kind of see if there is any Advantage to use in a few minutes after If there's a gap or whatever But yeah it was more Not necessarily because the opening price Is ideal Or just because that's what is easy to measure With the tools that we have You missed it yesterday Chad I was rapping I did my own rap intro for FOMC Was it awesome though I don't know I'm not sure I'd say awesome It was better than M&M for sure Should we enter trunch too Why wouldn't we It's like it's going to be a five wide Potentially Should start coming in here in about 30 seconds That looks like maybe a 15 straddle again 47 15 straddle coming in hot Build at 650 I'll reduce my stop if it gets down to 390 Alright 15 is the number my friends 15 is the number Trunch 3 is at 325 313 is your trunch too right Decay Not trunch 3 Just a little hundred point move away From all time highs my friends Dow I didn't realize Dow hit all time highs yesterday DIA 373.67 NASDAQ is ever so close as well Hit a high of 16,764 High today of 16,603 Rut It's got a ways Rut hit a high of 24.58 It's still below 2,000 Trunch 1 is up 20% Trunch 2 is up 4% There's a post on financial juice earlier The ECB is largely united On seeing rate cuts Later than market bets Like that may have had something to do with The little push lower Elliott you guys need to just Get with the ECB tell them to Tell them to hike some rates Forget this Rate cuts later Let's hike these things VIX back down to 12.3 Oh that's right UK they're too good for ECB No AM iron condor for me today Just a discretionary rick and some power hour My Rick hit I just did a three lot I got out of two at 30% And then the last one I don't know the percentage But entered at 12.40 Got out of two at three at 16.15 And my last one at 21.65 This was a nice one Chad you kind of went from Paper trading to all in Pretty quick Pretty hefty size Straight out of paper trading Doing good though Trunch 3 here in a minute or so Can we get a 5 wide straddle For Trunch number 2 5 wide strangle Mine will start coming in here about 30 seconds Looks like the 20s and 15s 20s and 15s for Trunch 2 Trunch 3 Filled at 4.60 2 to 1 Alright so 47.15 is the sweet spot Been kind of drifting higher here for the last That is a beautiful sight That is a beautiful sight Chad But it's even more beautiful When there's like 5 minutes to the bell And it's still there I guess that would be the only thing More beautiful Alright Trunch 1 is up 25% When's the last time I had a Real nice power hour win With a real power hour Let's see here December 1st Was a nice all 3 Trunch winner On a full boat That's it for the month Another little small size ones I think it's today I think today's the day Back in October I am up $2400 in power hour For the month of December Trading full size every time I mean I'd still be green I'd probably be up 10k maybe Trunch 1 up 31% I'm looking for 4.70 To reduce my stop I'm currently trading at 5.40 Going back down to our 15 level 16 Trunch 2's up 20% Also at the 15 strike Early indication Market on close and balance 305 million buy side So I don't know I started watching somebody in here Recommended We crashed on Apple TV I started watching that Oh Andrew K is you He's good Anne Hathaway too Hanging out at the 15 Trunch 1 It's down to 5.05 I need 4.70 to reduce my stop Girlfriend experience Is that Is that porn Haven't heard of that one Sounds like a good plot What do you guys think Should we trust a crush recommendation You know where that might lead us Elliott's valaging for you Is that on Netflix What is that on Friend experience Gotta keep my List of shows for the winter time Don't watch too much When the weather's nice It's cold out Nothing better than snuggling Under a nice warm blanket Didn't quite get to 40% on Trunch 1 Getting close Trunch 1 is up 34% Trunch 2 is up 21% Trunch 3 is up 8% 4.85 Getting close to 4.70 We get back down under 15 Should hit Let's see where we at 22 minutes till the bell At the 4.95 Yeah, it'll be adjusted down to $3 above the current price So when I get down to 4.70 I'll reduce my stop to 7.70 Which on trade steward The stop is based on the opening credit So I would reduce it to minus 10 cents Still 305 million Buy side early indication Let's be extended to 47.13 Handle Trunch 2 I'm at about 20% Still hovering around 4.90 I need 4.70 on Trunch 1 4.85 VIX Up to 12.43 We can pop back up to 15 It should Get down to a stop reduction There it is Stop reduced on Trunch 1 Trunch 2 is now up to 28.5% Trunch 2 I'm looking for 3.90 It's probably not going to happen Till about 5 minutes till the bell Where you at on your RIC Post a screenshot Chris will have to tell you what to do He's the one with the crystal ball Yeah, that's pretty nuts Trunch 1 Trunch 1 time last week If we bounce You can feel some pain What do you think, Chris? Trunch 2 at 33% Trading at 4.35 A little bouncy Final mark on close and balance Is coming in 3 minutes Looking for 3.90 on Trunch 2 Trading at 4.20 Getting close to Trunch 2 10 more cents 3.95 Getting close Drop down a little bit Not quite there One point bounce will do it It may have hit 3.9 Trade steward I never saw it on here Got 3.9 Alright, there it is Stop reduced on Trunch 1 And 2 47.16 pin Let's go Market on close and balance Final number 200 million sell side 9 minutes to go Trade steward record the latest Lowest stop Not sure what you mean It shows the current Price But it's always a little bit They must update it every 10 seconds Trunch 3 is at 50% Now with this little bounce Oh, yeah, I don't know About that I don't know that there's a price log SPX getting a little bouncy Little bouncy Simmer down Alright, here in 2 minutes I will be closing Trunch 1 2 And I will probably let Trunch 3 ride Unless we drop here Because I like to manage them in the last 5 minutes I had a 90% And then I also had a Timed exit and I just Removed both of them So I can kind of manage them Here in the last 5 minutes That way if it's a strangle And I want to let it pin I don't have to worry about it That kind of thing Hanging around our 15s Alright, I'm going to start trying to exit Trunch 1 and 2 Right about Here Filled at 255 on Trunch 1 Trunch 2 Trying to get filled Filled at 265 on Trunch 2 Trunch 3 See if we get a little bounce Stay above 15s Need to stay above 15s Down below 14 3 minutes to go There we go Up to above 15 Yeah, I am filled with a straddle It's pretty tough to pin the straddle But if I have a strangle Then I will consider taking it Closer to the bell Like I'm doing with Trunch 3 2 minutes And my straddles were dead centered So I closed both of those Trunch 1 and Trunch 2 A little bit more range If we can just stay between 15 and 20 Nice Chad A little over a minute to go Now Elliot is looking for a pin Now we have to stay below 20 45 seconds Nice Elliot Chad over 10k today Elliot close to 20k Now we are pushing 20s Stay below 20 Up towards 20, 10 seconds Getting close To the bell Final price Approximately $19.50 For the pin Trunch 3 for the pin Alright so 52.50 on Trunch 1 A little over 5,000 on Trunch 2 And it will end up being 28.50 For Trunch 3 Nice How about that my friends We had a real power hour today It's amazing what a little premium Will do for us Alright so live stream Tomorrow Tomorrow is December 15 So we'll be trading 0DTE In the morning at the open And we'll be back for power hour Hopefully they keep some more premiums For us for Friday Alright I'll take care, have a good night Cheers