 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 what we're about Time to dismiss greed and doubt Focus on the process, not the money And the profits will flow 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 and be ready to play Hey everyone, welcome to Power Hour Live, August 29th Hope everybody's doing well on this Tuesday We've got ourselves a little short squeeze situation going on So for Tronch 1, I'll be doing the 2 to 1 ratio Somebody post, Elliot, yeah, I just hit my 40% On my afternoon PM iron condor as well Just closed half on that Some nice winners today My duck hit 20% Still holding the second half of that Looks like it's just going to expire up in the beak Did some JSP just sell puts That hit 50% pretty quickly Dick K's special hit 2 profit targets Before getting stopped out, so that worked The quick release, AM iron condor Booked a small profit So some nice winners so far Don't let us down, Power Hour It's time for a good pH So looks like it could be a straddle Could be a little bit lower premium strangle Let's see where this settles out in the next couple of minutes SPX up 58 About 1.3% NASDAQ up over 2% Russell up 25.5, Dow up 235 Silver up 2%, notes and bonds up big All the grains pushed lower today Bitcoin up 8%, back up over 28,000 VIX down to 14.5 DAO is almost 19 Quite a little contraction Alright, couple minutes before I enter Trunch 1 here And it looks like it's going to be a 44.90 straddle So on my short squeeze, Trunch 1 I do 2 to 1 and then I've got a Stop at 6 and then I reduce it down to 3 If I hit Forget to 40% So I'm on the 44.90 straddle Trying to get filled at 11.70 Filled at 11.80 A little drunken straddle So let's see, I forgot on my PM iron condor, I need to reduce my stop on that also from 12 to 8 Just realized I had not done that So I got into Trunch 1 at 11.80 So when that gets down to about 7.10 Reduce my stop from 6 to 3 I think I can just put it 2 times Yeah Alright, so there's my Trunch 1 It's currently trading at 11.20 I do not, Mauro, I do 1 to 1 on the Trunch 2 and 3 I do 8 by 16 Got out of our 1, 2, DTE, BNB For a quick 10% profit Up a few hundred on the 1.3 Our 2.4 is down a few hundred And our 6.7 unfortunately is down now Was up nicely, now it's down So all of those will come off tomorrow Had to bail on the TGIF It's down to our exit point on that one My PM iron condor is nice and centered So the September 13 time fly It's above our call strike there So I kind of modeled this out earlier If you close the current call calendar You book a tiny bit of profit Then you try to reposition it higher The valley between the fly and the calendar Just gets too wide So I'm not going to adjust again Unless we get a decent sized pullback Under the call strike Down to about 44.75 So unless that happens That's about the set 13 time fly Before end of day here In our set 15 we also added an upside calendar So we could use a little pullback on that one as well Vicks down 4%, vicks futures down 3.5 Apparently the jolt's job openings The market is a big fan of this morning Tomorrow pre-market ADP non-farm employment change Preliminary GDP Market core PCE and unemployment claims Then Friday pre-market Some more employment numbers Nice Vegas Michelle And then don't forget Next week is a short week For Labor Day Mondays off What do you mean Ryan P? You mean like from a vol expansion Kind of thing like Monday has? I don't know I don't know the answer to that I don't recall Is Tuesday going to act like Monday Or is Tuesday going to be Tuesday? That is a good question I would not I mean the You know I usually do the 3.5 So you can't do the 3 because the Mondays closed so you could do a 4.5 But I have not The testing on 4.5 is definitely Not good so I would not be doing 4.5 Still do a 5.7 or 6.7 As far as zero DTE stuff Yeah it's still Still treat Tuesday like Tuesday No just the one time fly The other one is still fine I won't close the SEP 15 It hasn't even pushed up to the call strike But the SEP 13 is the one We need to close here What I don't want to happen is You know a gap up overnight Then we're losing You know right now we're down 14% ish So I really don't want to take a loss More than 15% on these So for booking 5 to 10% I want it to only take a 2 or 3 trades to get that back So you got to really focus on managing Risk on these without letting Letting any big losers come in About 10 minutes till trunch 2 Trunch 1 still hanging out Good position Yeah Tevis exactly So what you're trying to avoid Is if the market gaps down And just runs lower Then you don't take the trade But if you know you get that small gap down And then you wait for it to kind of push above Just a little bit above where it opened Before you enter So it's what you'll notice in the back test If you play with those two If you play with that filters It filters out a lot of losers You don't take as many trades But overall it's a better result A follows yeah I'll be doing trunch 2 and 3 just as normal PT back in the house Good to have you back Still some time before trunch 2 But it could be another straddle Or maybe 5 wide For my PM iron condor To get out at 80% I'm looking for 360 It's still trading at 920 Got some juice left in those Mirage I started to look at it last night And I didn't get through it It looked like I think I just I kind of I had I was on my way out the door So I didn't get to look at it in a lot of detail But it looked like It looked like it was pretty flat Through yesterday as far as performance goes Whereas I'm down in power hour So I think it I think it performed A little bit better Back test performed a little bit better Well if it's you know Sometimes the back test will go inverted Which we never do so that you know The tightest I go is a straddle I'm not going to go inverted So that's part of it Now that we're in kind of a lower premium environment That'll be a difference And then you know the other thing Sometimes I get in 30 60 seconds before the back test And you know strikes can change So that can happen as well Yeah I just do the two to one for tronche One and then I go one to one On two and three just like normal We stay up a little bit here We could get a five point wide For tronche two Pretty tight range back to About 1130 a.m. Central By some longs for tronche two Looks like it could be the 90s straddle again Now it looks like it could be the 95 90s Do it another minute I go the 95 90s For tronche two I'm going to get filled at 485 Filled at 485 95 calls 90 puts Tronche ones trading down to 960 I'm looking for 710 to reduce my stop Cooked myself a nice salmon fillet On the blackstone for lunch It's delicious I know you guys care about my lunch menu So I want to make sure I filled the in I've got a little patio at my office here So I got one just the small two burner version And now I'm thinking I need to get one for my house too Got a trigger smoker And then I've got a regular propane grill I think I'm going to I think I'm going to have to just get rid of the propane grill And go with the smoker and the blackstone J-Trade I'm on the 90s straddle for tronche one Two to one puts the calls Tronche two I'm on the 95 calls 90 puts Bounce back up to 4494 I've got a little leftover criss if you need it Power hour squeeze situations Supposedly the best time to trade power hour these days right Let's see if it takes us home Salmon too many calories for you Maro? That's good that's good for climbing Gives you those extra calories to burn Follows the power hour squeeze setup is just If SPX moves more than a half a percent from the open So today for example right now it's up 1.4% So significantly more than that Look at this here's the expected move for the day to the upside It's about 4453 we're at 4494 Yeah so for me on a if SPX is up More than 5.5% from the open on tronche one I do a two to one ratio Two puts to one call ratio Some folks do it on all the tranches I just I just do it on tronche one I still go one to one on two and three Speaking of tronche three I need to buy some longs Exactly might 5 or 5 or 10 wide No it's not letting me I'm gonna have to get out of my PM iron condor So I can do tronche three Looks like the 4,500, 4495 4,500, 4495 Trying to get filled at 420 Filled at 425 for tronche three 4495 is the sweetest of sweet spots for me As SPX is hitting new fresh highs on the day Give our time fly a little bit longer before I close it So for tronche one still currently trading at about 950 I need 710 before I just NASDAQ got 2.2% Anywhere about here or down to 4,490 Would work between 90 and 97 So as far as live streaming tomorrow morning chat I'll be streaming again in the morning I'll be back for power hour and then Thursday morning I'll be streaming at the live at the open In the morning And I may have I may or may not have a A new intro jingle for the morning session I'm just gonna have to be there to hear it Data junkie hitting 40% Tronche one down to 8 Just need another dollar to come out of that I did not get through my September trade plan Much today like I'd hoped I'm gonna have some Have a little time tonight and then Try to get that out here in the next day or two Not a whole lot's changing Just some little tweaks here and there Yeah, I don't know if there's any fixing power hour in for August I think it was just I think we're gonna look back and just say Yep, August just sucked But it'll be fine That's that's my initial assumption I mean it really it really just comes down to we had more Moves right towards the end of the day Lately than we've had in the past right so Is that gonna continue? I don't I don't know I don't think so August did love her ricks You know that's why especially for power hour I mean I definitely see Gaps and volatility and stuff And the effect of that on kind of Some of the morning earlier session type stuff but For power hour it really just comes down to You know it's price make a Big move Too big of a move at the end of the day And if it barely makes moves stops you out And goes back in you know is that Is that because it's a Thursday Or is that just because it just happened to Make a little bit too big of a move that day You know what I mean and so to me it's still More of just a probabilities deal I don't I don't get to for power hour I don't Get to I still have a hard time Considering Days of days of the week being that Big of a factor in my testing You know I do think relevance like You know big moves up You know I definitely think that has a I definitely think there's some value in You know doing the two to one ratio for example After a big big move higher like today I think there's some consistencies there but K thinks I'll come around See I need more I need more data Alright I'm gonna close out our time fly Alright just posted that in the butterfly channel It looks like our one three DTE might be hitting Ten percent as well See I got into that at 16 Not quite there I'll put an order in at 1760 on my one three See if that hits The time fly strategy is Posted in the butterfly trades channel Mirage You can check out the course on the time The time fly strategy it's both a Butterfly and a Calendar Oh thanks Ken Ken answered it SPX around 44.98 Today's high being 44.98.59 And we got new highs on the day Didn't quite get down to the point where it Could reduce stop on trunch one now it's back up Over ten bucks I think it just wants to hit 4500 And come back down Stop on trunch twos at 785 Spreads currently trading at 525 Trunch three is at 725 It's currently trading at 275 So we could handle a touch of 4500 Here it comes back down That's all you get That's a big green bar Big green daily bar The last time we saw one of that size Was back about on June 15th Alright there it is 4500 That's all you get you're done I believe it got jolted Krish jolted by the jolts There you go React up that 4500 Just a little bit though Not too much Just you know I don't know five points Trunch one back down to eight A little lower eight Still looking for 710 44.95 Trunch one coming down to Trunch one hit my My 710 So let's move that down to Stop down to 1010 Ten minutes till the bell my friends Let's not have a Last minute episode Hanging around Hanging around our lovely 44.95 Move Trunch three to A buck 65 to exit Trunch two I'm going to move To a buck Wow Trunch three hit a buck 65 Okay didn't expect that Trunch two I'm going to put it A buck 50 So I got out of my Trunch three A little earlier than anticipated Now I could use a few points lower Two minutes till I bail Trunch two comes down a little bit Should hit buck 50 About 255 starting to bounce Trunch two filled at 255 And Trunch one Gonna get 665 Filled 665 Right before five minutes till Winner winner chicken dinner Alright so Trunch one got in at 1180 Closed at 665 That was the two to one straddle Trunch two got in at 485 Closed at 255 And Trunch three got in at 425 closed at a buck 65 Awesome Nice day for zero DTE today my friends Did not have one losing trade In fact the only thing I got stopped at it was Trunch was the third exit Of the Dick K special but still Profitable Awesome Alright like I said tomorrow morning At the open chat we'll be streaming But we'll be back streaming again For power hour tomorrow Alright guys have a good evening Take care chat with you soon