 End of the day, 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 Ay, ay, let's go and that's how we get paid Test and 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, then be ready to play Ay, what's up everyone? Welcome back from a long Labor Day weekend Today is Tuesday, September 5th Welcome to Power Hour Live As the intro song was playing, my JSP's just hit 50% And actually I closed out most of it I'm going to close out my last remaining one here as well To get ready for Power Hour Left one on just in case we had a little runner market to the upside But that's not the case But the beauty of Theta Decay I mean, price is literally either right at Or maybe a little bit below where I put on the puts And I just hit 50% So that is the beauty of Theta Decay, my friends Just selling puts, boomer sooner All right, so for Power Hour, a little bit skimpy premiums Looks like maybe the 4510 straddle Already got my lungs ready to roll Also booked a little bit of profit On the Dick K special this morning Stopped out of my last piece for profit Got a zero DTE duck on that I took half off of Took half off at 20% If you get a viewpoint move lower Got a chance at a duck head I've also got half my quiet lunch on Waiting for 80% to close the rest And I've also got a PM iron condor on Which I'm still looking for 40% To reduce, stop and take half off of So closest to four bucks Looks like the 4510 straddle These are some low premiums Probably the lowest Some of the lowest we've seen Give it another minute before I jump in Or you could do the Yeah, that's probably the 4510 as closest Without going inverted Got $4 on the put side But closer to two bucks on the calls Alright, 4510 straddle Let me get filled at $5.95 Filled at $5.95 for Trunch One Been a pretty quiet day, my friends Looks like a low of about $44.96-ish I have about $45.14 Got a 20-point range Let's hope it just stays nice And quiet into the close My PM, I've got the 4505s So I'm trying to get out of half at $13.50, currently trading at $14.70 A little more than a buck to come out of that Be in good shape on that one Looks like Wuga front ran me Got his gun in at $6.05 Thanks, Wuga, appreciate that Oh, I forgot, I also did the AM iron condor The quick trigger Took a loss on that one Small loser on that one But everything else has been A-OK Based on the posts Looks like everybody else is doing Having a great day as well Entered a 1, 2, B and B double calendar It looks like it's up about 120 bucks I've also got a 6.7 on from Friday I've got an order to close half at $5.70 That would be a 20% profit It's currently trading at $5.25 So doubt that we'll hit today But never know Also got a double calendar in NDX That is up about 900, 800-ish Got a TGIF and SPX It's up about 700-ish Got a Timefly SPX that's up a little bit Got a strangle in the Euro that's up a little bit Got a hedgehog in oil It's up a little bit Hedgehog in ES Pretty flat Reverse hedgehog in gold It's up a little bit Added a new short strangle in MES today When volatility was getting pumped up a little bit The other one after adjustments is Getting close to profit target Not quite there NASDAQ hedgehog up a few hundred Put on a new duck in SPX 21-day-er That's my day And it looks like I just hit 40% on my PM iron condor No I hit 80% on my quiet lunch Oh nice I'm out of the quiet lunch for 80% on the second piece So my PM iron condor 40% at $13.50 It's currently trading at $13.55 So that's coming Come on Hit it My PM iron condor I need to reduce my stop from 12 to 8 If that hits And there she blows 40% on the PM iron condor I need to change that from 12 to 8 Nice Nice, nice, nice If power hour comes through It could be a big, big day My friends It's a big if Getting a little down move in SPX Trading back down around $45.06 Still got some time before Trunch 2 And the premiums just keep falling So for Trunch 1 I got in at $5.95 So about $3.55 $3.60 Let's call it $3.60 I will reduce my stop on Trunch 1 Chart that straddle Alright, so I need $3.60 It's currently trading at $5.50 And for power hour Trunch 2 Let's see if I've got my Orders set up here just to confirm Trunch 2 will be a straddle 16 contracts Yep, there it is Delete that one Alright, good to go And why is my toss frozen? I can't click on anything It's not good Think I have a pop-up anywhere now? Clicking on my other monitors And they're working fine I can't drag it It is not functioning Still blinking Values are updating but Oh, there we go I had to hit escape Now I'm good Alright It's good I didn't want to have to reboot Right, straightened down to $4.505-ish $4.506 Still got over 5 minutes Before I jump into Trunch 2 Right now it would be the $4.505 Straddle Yeah, it's down there With the best of them Tomorrow With the worst of them, I should say But we've also got one of the tightest ranges For the day we've seen in a long time Maybe going back to August 1st That looks maybe like a little tighter About the same as today This is just like a little fake intro to September It's a little September teaser October November 45.05 I don't know how many longs I need to buy Let's just go with just buy 10 more Just to be safe Looking for the closest to $3.00 on each side Looks like it's going to be We have $4.500 straddle This price keeps moving down Stop on Trunch 1s at $9.95 Spreads currently trading at $8.50 Getting close Keep pushing down Trunch 1 will get stopped Trading at $9.60 Stops at $9.95 $9.45 I'm going to need a little bounce here To stay alive on Trunch 1 We'll go $4.500 straddle for Trunch 2 Hold at $5.60 Hold at $5.60 for Trunch 2 Trunch 1 is still hanging on Hanging on by a thread Hanging on by a thread Trunch 2, 10 points below Trunch 1 Maro and Wu guys I assume you guys were trailing On your Trunch 1 I escaped I escaped the stopout on Trunch 1 To this point So for Trunch 3, I'm doing $14 I'm just going to double check my Order templates here Trunch 3 Let's say it's a straddle I've got $14 there Five wide Alright, good to go Alright, we're going to need to play a little ping pong Between $4,500 and $4,510 Actually, if we get down to $4,500 I would get stopped out of Trunch 1 It's creeping back down Hey Maro, that was a great analysis You did over the weekend too, by the way All the different power hour All that power hour info You discussed in your video, that was cool Spread Trunch 1 is trading over $9 I stopped at $9.95 PM, Iron Condor, could use a little bump up as well Yeah, I noticed that just from the visual Once we're out, we're ready to rip Historically Alright, Trunch 1, back down to $7.50 Well, I can tell you why that is 2017 was brutal It was literally just a slow grind higher with What did, I think Vicks got down in the eight handle that year Let me come back to that Get ready for Trunch number three Looking for the closest to two bucks Looks like it could be a five point strangle or a straddle Let's see You had another couple minutes Oh yeah, this is This is high premium compared to 2017 Plus, you know, you got to think about what the price of SPX was in 2017 Compared to $4,500 today So not only were the premiums compressed But it was based on a lower priced product So even lower Yeah, less than half I wasn't using NTT in 2017, but yeah I would, if you're stuck with it Stuck with it long all year for sure Looks like it's going to be the 0500 Five point strangle Trunch three, five wide, 14 We get filled at 265 Filled at 265 for Trunch three Yeah, I remember 2017 It was a tough, tough year Selling premium So yeah Here was 2017 and SPX I mean, just very little pullbacks On price, like you said, the price is half the size SPX was half the price it is today And here was VIX in 2017 Hit a low of 8.56 Remember like it was yesterday And I mean, it's been a lot of time under 10 Yeah Not what we're looking for Heading down to 4500 My Trunch one is still close to getting stopped out But not yet Traded at 965, stops at 995 Yeah, with our strikes so far apart And low premium It's almost like the best thing that would happen Would Trunch one get stopped out and then Then we maximized Trunch two and three I'm not sure if that's 100% accurate, but Just looking at the risk graph And we bounce it a little bit again Trunch one still hanging on No Trunch three hedging for me I'm also sharing the 4505s with my PM iron condor So that has an effect on my risk graph as well On my power hour 30 minutes until the bell, a little less than 30 minutes So for Trunch two I also can reduce my stop at 40% So for Trunch two, I got in at 560 So it'd be at 335 So Trunch two gets down to 335 I'll reduce my stop from three to two Trunch two is currently trading at five bucks Andrew K in the AM for Tuesdays I only do the, as part of my plan I only do the quick Quick exit, but yeah, there's a one-to-one version If you click on the tab at the bottom of my plan That on the August tab You'll see it there You just hover over it There's a little note comment Where I posted the one-to-one version Yeah, I don't trade a longer hold version on Tuesdays I haven't found anything that really tests too good So it's just the quick version for me So 80% on my PM iron condor is gonna be 450 It's still trading at 12 bucks It's a straddle though So I'm not gonna try to get 80% I'm gonna move that up to try to get at it Let's do nine bucks Raj, just like I have in my plan I do 10, 16, 14 Trunch one still didn't get stopped out Currently trading about 750 Nowhere close to reducing my stop But hanging on, getting a little bounce back up above 4504 I would take a stop reduction on Trunch one And then it can go back And hang out closer to Trunch two and three That's kind of the most ideal scenario here He hasn't got it yet, Ron Can't remember the date September 19th or 20th maybe And 19th Yeah, I wonder Our strikes are so spread out It's getting a little decay on the edges of each Back above 4505 Trunch one's down to 550 I'm looking for 360 And I closed out my PM iron condor Got in at 2255 Closed this last piece at 895 Nice Trunch two's trading at 715 My stop's at 860 Dick K dropping bombs 36K on the day That's awesome All right, SPX Can settle down a little bit K just brought in half of a The average salary in the US in one day Average income in the US in 2019 was 31 So I stand corrected He just took in a full Median income in the US in one day All right, Trunch two is up to eight bucks My stop's at 860 Trunch three stops at 565 Spreads trading at 340 So Trunch two is the one that's in danger About to get stopped at a Trunch two If this thing pushes up much more Little pullback Spreads trading at 850 Stopped at 860 Dodged another bullet for the moment Atenra you and Callie Calvin you're in California too Jimmy Jim WZ and Callie Oh bless your souls Get to deal with the Gavin Newsom, huh? Coming back down Dodged a bullet on a stop on Trunch two so far Trunch one's trading at 515 I'm still looking for 360 to reduce my stop Meanwhile, I may hit a duck head on my zero DTE duck We can stay just below 4505 I take a 4504 pin Right there Hold Freeze 10 and a half minutes to the bell Down below 4502 Now Trunch one's back in trouble Stopped at a Trunch one at 975 20 cent positive slippage All right Trunch two and three My most important anyway Let's roll Let's go Now I need 45 right here 4501 My duck I have an order at 30 cents Oh yeah that's about to hit 35, 40 I don't think I've hit a zero DTE duck head yet Down below 4500 4499 Let's get a little bounce here the last couple of minutes What do you say? In August just hover over that Andrew K And you should see a comment that has the other version on it You can't find it all After we get done here I'll Try to get it for you Trunch two Trunch two I should have reduced my stop Three Yeah so I need to reduce my stop to 535 Well three point bounce Less than two minutes before I exit Put Trunch two at a buck 30 Get a little bounce it should hit Trunch two Let's go with 230 With a buck 60 Buck 60 partial fill Buck 60 filled Trunch three is closed Trunch two is the 4500 straddle Or is it 230 Should be hitting Fill the 240 Man I'm out So nice winner Trunch one Got in at 595 Stopped at 8 Got in at 595 Stopped at 975 Trunch two got in at 560 Out at 240 Trunch three in at 265 Out at 160 Booyah Add to the good big day today Love it All right my friends let's see as far as the live stream goes Tomorrow is the sixth So Chad is streaming in the morning And we will be back again for power hour Yeah the fix stops help big today All right my friends take care Have a good night cheers