 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 and 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 Let's start the show, come on trade hackers Get ready to options, time to make bank Get locked and loaded, then be ready to plank What's up everyone, welcome to Power Hour Live Wednesday, January 3rd Hope all is well Got a little shake and bake going on Once the FOMC minutes came out S&P at 47.22 Down 23 NASDAQ down 123 Russell down 36 Down almost full 2% Dow down 148 Gold and silver, both in the red Notes and bonds slightly green Oil up 3.5% and add a gas up 3.5% A little mix in the grains, Euro and the pound Mixed And Bitcoin off 5% after a big update yesterday Gave it all back Looks like we may get five wide For trunch one, so yeah I'll be going Full normal position size My zero DTE bots were very active today So I had a, my overnight iron condor Closed out at basically a scratch My JSP's got smoked in that initial Down move My AM ratio 70 minute trade Small loss It's a test trade My AM ratio Wednesday Half of it, or no, yeah Got out of all of it at 50% DKS hit 40% My 945 trade hit 40% And then the other profit target to 80% But I was just lightening up positions To make room for some quiet lunch that came in So hit 40% on quiet lunch The early version And then again I lightened up Because I was taking the other quiet lunch Which also hit 40% Then my PM iron condor got smoked And I still have on my one DTE iron condor Which is up 27% and my other half of my quiet lunch Is up 43% And I'll let that one ride hopefully hit 80% So all in all going into power Hour up about 3500 It qualified According to my bot Gapped down was only 0.37 I don't know what the move down was When it entered but it looks like it Been less than 0.5 So my trunch won will start coming in At about 56 By the way do you guys hear any background noise? I've mentioned this before But they're redoing all the balconies In my office here So it sounds like there's a jackhammer on cement Right above me But if you guys can't hear it that's good I have to put headphones on So I can just hear myself think As long as it's not coming through on the mic That's good We've had a few days in a row Of red Keep getting a little bouncy Bouncy action After the initial downturn Looks like it should be five wide Yeah it's been going on for months tomorrow And The balcony right outside mine Isn't scheduled to happen until next summer So It's a big building Big project So my trunch won will start trying to enter here in one minute Now it looks like it may be a straddle Right at a strike it will probably be a straddle If it's in between it might get five wide I tweaked my MRP I tweaked mine to 57 On normal days I think I mentioned it in my trade update It's on the backtest as well on the links Filled on the five wide 25s and 20s At seven even $7 Now in fields that's just when Jerome Powell speaks and they do the actual FOMC Rate Release These are just the minutes from the last meeting But sometimes the wording in the minutes Causes a little A little price action But I don't do anything different around Minutes Just the actual press conference Alright so what else did I do today I took off A time fly Looked a quick profit from the one I put on yesterday Still have this January 5 That's getting caught in this little Drup I was hoping we were going to Get out of this little valley To the downside but then it bounced I wanted to take it off tomorrow regardless Hopefully we can get a 50 point move in one direction Preferably lower VIX is at 1356 Was as high as 1422 This morning Yeah exactly I was looking at that yesterday too Did not do my Wednesday 25 DTE double calendar today or BNB Just wait till Kicking back up my calendar spreads on Friday Or next week I did take that 2-3 DTE Yesterday that's up a few percent Yep I'll start back up full force on Friday Just wanted to get through this last Shortened holiday week Hit my profit target on my one DTE Yesterday at 45% After that big move up after the market on close And then My current one today is at 32% I will adjust my stop on trunch one Price gets down to 420 My overnight Iron condor just got filled 1025 So that would be this one here Sharing a strike here so it would be this Yeah So my overnight I see The shorts are 4695 And 4745 This PX Pulling down a little bit Down to 4715 Roadie yesterday The one I put on yesterday that closed this morning Got up for a scratch Plus 25 bucks Right just so you can DM each This PX down to 4715 I have Two accounts trading naked I've got a portfolio margin and I've got a Standard margin account One's in the Name of an entity My standard margin is in the name of an entity About six minutes until Trunch number two See my one DTE's Got the 4747 40 Stabilization Trunch one definitely needs a bounce Eli it's got a it does put in the limit Mortar For the profit target But the stop is Hell Not on toss PX getting a little red I stopped for Trunch one's at 11 bucks It's currently trading at 950 It's going to need a bounce That's correct Eli But I don't have a I don't have a profit target for Trunch one So I just close it the last five minutes Trunch one trading at 1050 stops at 11 Any more down move Trunch one is going to be toast Don't forget For those of you who can attend Tim Weiss trade plan Presentation After the bell today 30 minutes after the bell No power hour for you today Dick K Well we got a little bounce To escape the stop so far I did My Trunch one is trading at 915 Stops at 11 Trunch two is going to be coming in here Shortly My quiet lunch is at the 4710 4725 So it could use a little bounce as well Same with my one DTE Yeah M-Fields I completely disagree with that And I don't know what I know you're paraphrasing But from my standpoint I think having a daily goal And stopping trading Once you hit it I think is a I completely disagree with that As far as time in the market As far as minimizing your time in the market There's obviously something to be said for that But as far as the Daily profit goal hitting it Being done I just I can't get behind that Alright here comes Trunch two Looks like it will be the 15s and 10s Got filled on Yep 10s and 15s Filled at 648 650 For me I Have a trade plan I have a plan going into every Each day And I mean especially If things are going well I think a lot of times they continue To go well but not always I mean obviously you can have You can be up in the morning and then give it back in power And maybe it's Maybe it is more Relevant to Directional trading But to me Even for directional trading I think You have a plan going in If Your setups are there Plus setups let's say I just I don't See how it makes sense to stop trading You know it's like Let's say you're a Trend trader well if the market's Trending don't you want to just Squeeze as much out of that as you can Don't you want to stay in that Um so I don't know that guy I don't know how he trades I don't know anything about that but that's just me You know you gotta To really you know Create alpha in your account too I mean you gotta you gotta have those big days That come along not very often Tranche 1 is trading at 1040 Stops at 11 Need a bounce Yeah it's just putting on a overnight Iron condor towards the end of the day based on Specific criteria and then Taking it off in the morning I just found it The scenarios that I found just kinda Test well work well It tells me something dark avenger that you still don't have Option omega what was your promise Going into the new year you promise me Are you breaking your promise SPX At 4711 That's right But on the dense gap go in the corner You are doing yourself a huge disfavor my friend Oh just sometime in 2024 stopped On trunch one Stomped on trunch one at 1125 Like that analogy be more At the end of 4710 Looks like we're bouncing a little bit off that Trunch 3 here in about 5 minutes So Dick K you stopped using Trader sync huh? It's too much Grouping that you had to sort through It is definitely worse With the bots because you know When I was manually entering I would always Choose a long Option that was a different strike For tracking purposes The bot doesn't do that so they definitely Get grouped more Or manual separating What about since all your stuff is Botted now what about the tracking In trade steward If you looked into that much If not dug too much into that because they don't Track futures or futures options You've been using it a little bit Meach Gotcha What about the reporting Does it spit out any good reports statistical data Gotcha S&P down 35 NASDAQ down a full percent Russell down 2.75% Look at that Russell Look at that little Russell run Energy is green everything else is red On the sector front retail Is the weakest And regional banks Semiconductor is big red day again Tesla down over three and a half Coin based down three Nvidia down one Baba and Baidi are green Google's green So let's see Trunch 2 I got filled at 650 I will reduce my stop If it gets down to 390 What about now dick can you hear me okay It may have been the Background construction noise Kind of Coming through my mic Trunch 2 at 15% My quiet lunch ups 57% my one day iron condor Up 27 Madam butterfly in the house Are you Trunch 3 just got filled That's on the 05 Puts and the 15 calls 10 wide for 525 So between 10 and 15 Is the sweet spot S&P's is bleeding Next trying to get back up to 14 I'm just driving these regional banks Lower 10 year yield It's not doing much today it's down a little bit I guess almost a percent Yeah I do I still have my natty It's up about 30% 30% right now Need a little down move I did sell some premium In the Euro today Volatility is creeping up On the Euro so I sold some premium there What is key about 4708 Krush Is it a Krush still ball level Oh that doesn't mean anything Vicks popping Right but what did I say in the course about it It's not that I don't trust it It's just another level It's how you manage around that level Trunks 3 A little bit red Trunks 2 up 12% Need a bounce Just a little bounce 815 million to the buy side It's the early indication I already owe you some BBQ Dick And I think we do bounce I think we get a bounce Tomorrow Do not bet against the machine Stormer how can I see The actual floating profit In dollars for each individual Trunch and toss So what I always do is I just Look at the monitor tab Now if you're sharing strikes like I am And then I just This is Trunch 2 and 3 together And you can just hover over it And it shows what your current P&L is So between Trunch 2 and 3 So I come up about 3900 Is that right Yeah so on your monitor Tab just click on the Short strikes that you have In your different tranches I have I'm sharing a short A short strike between both my Trunch 2 and 3 so I just have them all clicked on So this is my combined Trunch 2 and 3 If you're sharing a strike Then you can't separate them Alright SPX calm down I said just a little bounce Trunch 2 is up 30% I need 390 to reduce my stop It's currently at 450 You can see that on your monitor tab So on your monitor tab Once you get filled You could You can split those Into the Trunch 1, Trunch 2, Trunch 3 And create a group for them And then you can see the dollar amount that way So for example if I Go down to these strikes here And I said okay I'm going to take Let's just Let's just assume For example purposes that 4710 puts and 4715 calls Or my Trunch You can highlight those, right click And say move to group And then you can add group And you can call it whatever you want And then once and then you just move those to that group And then they're set up like this And so you can see how much you made For each Or how much it's up for each one Hey Vic welcome Let's go to the trade plans channel I'm supposed to do it there Uh Every month I put out my trade plan And it includes all the strategies I'll trade as well as the The back test links that shows all the criteria Not to mention there is a A lot of gold In that channel From other experienced traders That have Shared their trade plans as well Back up to 15s We need to stay between 10 and 15 By the way, if there's anybody here who Has a trade plan And Thinks there's something of value that they'd like to share with the group We'd love to hear from you I haven't had anyone present in A couple months Let's see who's the last one Last one was Mauro Yeah, Wugas is on October 26th Then Ryan P Went early November And Mauro as well Yeah, sharing your plan Getting feedback It'll make you a better trader No doubt Trunch 2 is 36% Getting close to that 40% So if those of you getting started with trade Steward, I know I've mentioned this a couple of times But this is always kind of confusing at first So I entered at 650 So once it gets down to 390 I'm going to reduce my stop to 2 bucks over the current price So once it gets down to 390 I would reduce my stop to 590 It's all in Relation to this opening credit price So 650 Minus 590 is 60 cents So I would need to reduce this to minus 60 cents If it gets there I think there's a column on the Monitor tab as well, Stormer That you could put percent I don't have it But let's see P&L percent Yeah, I noticed that too, Eli Sometimes I do get filled with the bot Not in 5 cent increments I don't know what that P&L percent is actually measuring So actually I don't know The answer to that, Stormer There's a way to do that All right, 390 Reducing my stop So what I was saying is I got to go 60 cents Under the opening credit So I changed that to Minus 0.6 Trunch 2 is up 40% Trunch 3 is up 35% It might be that I got Let's see, Trunch 2 Oh yeah, that's what happened So see this, Eli I got Filled on 7 of my contracts At 650 And the rest of them at 645 So trade series just showing the Average For the overnight trading Naked, I mean the stops aren't going to trigger Overnight anyway, so and I take it off In the morning So yeah, no stop Your risk is managed by your position size On that one Actually it should be managed that way In all cases My last piece of my quiet lunch is up 67% looking for 80% on that one to close My 1DTE is up 32% Looking for 45% on that one SPX back down to 4710 Alright a little over 15 minutes Till the bell I'm going to do a little test today if we get a If we get What I'm going to start doing is a little test If we get a number Either buy or sell Of 5 billion or more On the market on close number The final one I'm just going to buy it in the money call Or in the money put depending on which way See if I See if I can be quick enough to Do anything about that number So a couple of strikes in the money And back down to 4708 Yep call on buy put on sell SPX bleeding lower again Minimum of 2 billion Sell side, okay Final number will come out in 3 minutes Standing around 4708 Got 5 wide On both trunch Or 10 wide on trunch 3 Might consider taking something to the bell If it Is positioned correctly Going into the end VIX up to 13.9 That's right we need to get RIC back in action 30 seconds till the market On close and balance 2.5 billion Sell side Just bought some puts See how that works out And I got stopped And we're selling off below the expected move now Got stopped on trunch 2 For profit So I'm on the 4715 puts At 980 They're trading at 12 bucks already Trunch 3 is trading at 615 Slightly in the red now I'll close half my puts at 14 If it keeps pushing lower But we're getting a little bounce I mean that was only 2.5 billion So I'll just test in those puts Trunch 3 back in action About 44% And going back down Good call Anil good call My puts that I bought For 9 something or at Almost 14 Filled on one of them So bought them at 980 Closed one of them at 14 Trunch 3 is not liking this move Trunch 3 is trading at 890 Stops at 1125 Last one at it 15 If it pushes down again Woo! Look at that bounce Oh the moly Alright I'm going to get out of that So I made a few bucks on one Lost a buck on another one Trunch 3 is back in action Just need to stay between 05 and 15 to the bell Quite a bounce My quiet lunch is at 39% Did I just fill What was that That's what I think it was But why did it Oh that's right never mind I was thinking I just Had a profit target on that But yeah it closes At 4 minutes to the bell so that's what it was So I made 26% On my Or 24% on my 1DTE This one here It's a little over 1600 Trunch 3 is up to 82% You just stay above 05 For a pin I'm going to go ahead I'm going to close out my Last quiet lunch here Above 05 Mr. SPX Can we make that happen Just a little point higher Is all I'm asking for In the next minute What I don't want is a quick sell off Into the close Alright 06 there we go Give me a little push 264 if it pins I made 1,075 On trunch 2 And then I lost 4250 on trunch 1 Oh Back below 05 10 seconds get up there Get your little ass up there Ding ding ding Settle in At 4704.79 So not quite a pin Still a little over 3000 On trunch 3 So basically a break even For power hour Plus 3000, plus 1000 Then minus 4000 on trunch 1 On the day Basically plus 2000 bucks From 0DTE That's a lot of work That's a lot of work for 2000 bucks My bot worked hard today Alright my friends So live stream For tomorrow Tomorrow is the fourth So I will be back in action in the morning Streaming for 0DTE in the morning And then of course back for power hour again Tomorrow afternoon And then don't forget Check the Tim Weiss channel for the Zoom link for the Tim Weiss Presentation In 30 minutes from now 29 minutes Here, have a good night