 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 Hey, hey, let's have success, find what works for you and forget the rest Stats and probabilities is what we're a dismiss green and doubt Focus on the process, not the money and 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 What's up everyone, welcome to Power Hour Live, April 3rd on a Wednesday S&P up 11.5, NASDAQ up 78, Russell up 18, Dow unchanged Gold up 1.5%, Silver up almost 5%, Notes and bonds flat, tenure yield flat Oil slightly green, Natty gas slightly red, grains are green Euro in the pound green, Bitcoin slightly green VIX 14.30, looks like we got a straddle, it's hovering around up day Assuming that holds on, in other words, assuming we don't drop here in the next few minutes I am going to go ahead and treat it like an update I added update in my challenge portfolio, I'm going to let the bots do that thing If it doesn't qualify, it's not going to qualify, I won't trade it But in my other account, I will do, I will trade it like an update Looks like right now it would be a straddle at the 52-20 strike As far as what I did today, so in my non-challenge portfolio account The O2 call calendar was a loser, minus 800 JSP's winner I did one price action, hit 20, 40%, then held the rest till 80, so a little over 2100 on that My AM ratio 945, hit 40 and 80% That's my RET hedge from yesterday, that was down, NDX is out of bounds That was probably going to be a loser My RET hedge from today's up a little bit And then I put on a PM iron condor update trade at 230 Eastern That one's up about 7% in my, so all in all, I'm up about 4,500 in that account On my challenge portfolio, got slapped around this morning Well, first of all, it took my re-entries and a RIC They had the VIX filters off, so I closed that right away, so I ended up taking a little loss on that Got stopped out of my first two re-entries, my 3-2, my 1-1 So I was down 11k out of the gate after that big jump Got back in and got stopped out for profit on both of my next two My 1DTE is up 11%, and then my current active 3-2 is up about 4,000 My 1-1's up about almost 5,000, so I've scratched my way back I'm up 145 bucks in the challenge portfolio And then, yeah, so that's it for me I took an ES futures trade, I posted it in the day trading channel I took it as an upside volume runner, two contracts You can see here I had that big spike and volume on that big push up Pulled back, got long, got out there and there for a 550 Wait, it doesn't sound right, I should be up more than that Anyway, less than 1,000, I thought I was up like 850, but What's say you Chadwick? Yeah, so in my TLC account, everything's been great AM number 1 booked 20%, got stopped on that quick drop down AM 2, 2040, 60, it's setting pretty much dead center It's going to probably expire within it So big winner there, lunchtime 1, 2040, 60, 80, and out Big winner there, lunchtime number 2, 20%, that's where I'm at right now So, and just got filled on the 5,220 straddle power 1 My other account I posted in our chat I had just put on a TLC trade when that drop happened And the slippage was ridiculous, and it would be a 6K loser Should have been about a $2,800 loser So I have scratched and clawed back in that one It's almost break even So I can only imagine what it could have been without that real quick push down Alright, I'm going to go into Trunch 1 at the 20 straddle Oh, my 1DTE is also up, it's about ready to hit 30% So I did that one too I filled on the 20 straddle 2 to 1 at $10 and 1015 and 1030 So I'm going to get my OCO on here, I'm going old school manual style here Alright Let's see if my stop is going to be 6 bucks Oh, I did the NDX trade too, and that's going to be a loser Yeah, Gonzalo, so my bot was scouring the criteria to see if it would fire Or technically outside the range, SPX is currently at 0.46% instead of 0.5% So it didn't qualify from the bot's perspective So I'm just overriding that because it's so close And so I manually went in Like I'm trading, I added update power hours to my challenge portfolio as well Which did not qualify, so that won't fire, so I'm not going to mess with that But in this account, I'm just using a little discretion to go ahead and jump in And so I was trying to manually launch it with my bot But because the other one was in the window of trying to potentially enter It wouldn't let me, so I had to manually jump in Used a little bit of a bounce here Yeah, my 1DTE's up about 10% So if it hangs out, if it doesn't rip up too much 1DTE's got a chance at a, it's probably not going to hit a profit target But a chance at a profit after being in the red for a good part of the day Dark Avenger, no, I meant to push down 15-point drop in 5 minutes That's right when Jay Powell is talking, it looks like Yeah, then it just, you know, was so crazy about it, it immediately bounced right back up Like if the trade was on, probably less than two minutes It was crazy I hadn't really had that happen before, not bad Not quick Quickest stopout, new record? Yeah, I mean it had to be And if we're not careful here on this Power hour's going to be the same I got a close 30% of my 1DTE Oh my gosh, you know what, I just noticed my bot did end up firing So I've got double the position size on that I wanted to Alright, let's see if I get a little bouncier Did not realize it till just now Yeah, I got stopped on my Lunchtime number two just got stopped After 20% so it's going to be about a scratch trade So what I think I did is I tried to manually launch And it was delayed because the other one was still trying to It was still within the window and then as soon as it got out of the window My manual launch must have fired After I put in my Manual manual trade and toss Alright, let's see if we can get a little bounce and I'll get out of some of this We don't, I'm not going to be very happy about it The smart thing to do Do as I say, not as I do, the smart thing would be To just get out and take a loss on half of this But I'm not always the smartest guy, Chad Well, the first NDX trade I did on Monday Instead of two contracts, I did 10 And then it went bad Yeah, because I went too big, I just had a habit With SPX doing 10 contracts and I was like, oh no The other reason I'm not super Quick to get out here is I mean it is It is an update for the most part So I like the I like the odds, so I'm okay being a little bit bigger My challenge portfolio didn't take it So it's not like I'm oversized by any means But just a little bigger size than I wanted to get in at So here's my power hour, Tronch 1 Here is my PM iron condor Yeah, right, I'll, yeah Or I'll go lighter at least for sure My launch time number 2 ended up being a minus 225 So I've had two scratch trades, two big winners And one power hour trade to go Put on a 1, 2 Oh, go ahead Well, I had my 1DT iron condor still Still have it on Got a 1, 2 DTE double calendar, that one's Got a scratch up about 1% And then my 3, 4 from Monday took half of that off At 20%, it's up about 27% now I've still got half of that on it And then my 2, 3 from yesterday It's up about 16% I've got an order to close half of that At 20% if it hits It used a little bump up Gold is still on fire to the upside New all-time highs Definitely pumped some juice into our short premium It's down pretty centered but down So my PM iron condor and my Tronch 1 Are both at the 20 straddle I would take a 20 pin today, that'd be good I would enjoy a 20 pin A little faded decay there Well, I thought the biggest concern today Would be the Fed speakers, including Jerome But in reality The ISM services PMI is what Caused that big bounce Or at least that's when the market started to bounce Can you hear me, Calvin? Yeah, there's a little bit of A little something happening there Got you now Make it good So tomorrow Tomorrow is Thursday So tomorrow we have unemployment claims pre-market And then a couple more Fed speakers At 11.15 and 1pm central Barkin and Mester See, I have been adding some short flies In my tradier account They started getting over a dollar So let's see, the first one I added was 25 Added into that one for a dollar 10 52.20 Do that for Buck 30 And then I added the 15s For Buck 20 Need a healthy bounce here So I've had about $3.60 of credit So if I can get some more credit Between now and the close And then try to vertical that off Might have a shot at doing my homes At the end of the day as well But for now we need a bounce Almost had 30% of my 1DT But this push down has Heard that And the little Spike and Ivy You were up 30% on your 1DT? Almost I was like at 25 I'm at 14 right now I could have taken it off at 20% Or at least about a half at 20 You must have got in a little bit later after we bounced Yes, I did So Trunch 2 would go on here in a couple minutes Looks like it might be 5 wide 15s and 20s Yeah, premiums Not even though That's going to be worth it for me Hanging out right at the expected move Right where we bounced before I wondered if it was going to come down there To where that drop went to Trunch 2 looks like the 15 straddle now Yep Not good Stopped Stopped on Trunch 1 Slippage Definitely not an up day now So I won't be entering Trunch 2 Wow Wow Wow Still in my PM iron condor Man, that really did damage to my 1DT as well That move is helping my 1DT I'm now up 23% of mine I'm barely up now Did you get in after the big up move? I got in, yeah Because I was live streaming Gotcha So I couldn't, you know I was live streaming the other stuff So I didn't get in until Yeah, like 9.50 I put on a 1DT That was disappointing Now I'm getting crud, yes Negative in it Stopped out of my PM iron condor Getting dirty now I have some puts there Yeah, I can't even get out I can't even get out of my, here we go Finally got out of my 1DT I got positive in my NDX NDX Somehow I got filled at a buck 50 On my 52.10 call fly Before it really flushed Man, I should have some of my puts on So I've got a free shot with my Short butterflies The nightmare NDX is back in range, baby What a nightmare Didn't think I'd see that Still got some long puts, but we bounce now So I got stopped out for a profit On my two re-entries But my 1DTE is now sitting pretty Yeah, because it was mine Because it was sitting terrible Now it's bouncing back up I could even use a little bit more Down move on mine Because I got in right at the open It's up about 37% So I may end up on my profit target If it sits Wow I have had a couple Really go south on these push downs today Might as well get nasty to the downside Let's pump some juice into these puts Yep, let's do it NDX popped up to about 14.85 Back down to 14.54 Nice Dave S That definitely put me into the red My challenge portfolio is down about 4,500 And my other account down about the same Yeah, that moves today It's made a big, big up, big down Book in Morning and afternoon Yeah, let's get nasty Get that NDX back down and centered My upper NDX is right here I'm at the 18.140 So I need to stay below 18.140 and NDX Check mine Pretty much the same here Below 18.140 I actually got a partial fill on this one Still green for TLC but Overall Green is good But overall not Thanks to That push Down When Jerome was speaking and that push down right there If you're green after two full stopouts Or is that 20% before getting stopped out I've had two Well, I'm talking about two different accounts here Combined Got you Green in one red in the other My own flush, baby Lush it out Let's finish what we started here My puts for my power hour For 60 cents right now Let's get them going And that Vic spike up was So I was starting to explain this before I got rudely interrupted by SPX But I started selling some butterflies up here at 25 When we were right around So about one o'clock central Got filled on the 25s at a buck 10 Sold the 20s for $1.30 Sold the 15s for $1.20 And then I got filled on four out of my five So now I've got this So I've got $100 of risk For a potential If we sit here or lower I'll make $2,400 on that Trying to get filled on the 05s For $1.05 But no fill yet Come on, let's drop Chris, I thought there was just a nine point move left Like two hours ago My 51.60 puts for my tronch one are sitting it They're only up 10 or 15 cents Let's go I'll close my longs out You always leave all of them open Now I kind of close them out I'd say you're probably better off over the long run But it is nice when you catch this That's kind of what I thought Yeah, I'll close them out for 10, 15 cents Like over time that adds up I'll close half mine at 20 cents if we drop I can't believe my NDX is back in play I just can't Yep, I wrote that one off Yeah, it's a lie Let's see, what are the stocks doing here Looks like regional banks are down Retails down Financials are down Hill raise up 17% GE a little bounce back Up six and a half Spotify is up six and a half Bitcoin stocks, Coinbase, Meta Netflix up two NVIDIA is down a little bit What was the news on Cannabis Dark Avenger? Is there something politically going on? Potential legalization or something? Trying to get filled on the 5205 fly for a buck O5 It's right there, it's not filling yet There we go, just got filled So now my short flies look like this So worst I could do is make 425 Most I could make is 29, 2009, 25 That puts $1.20, in other words, 60 cents Yeah, Kelvin, so essentially what I'm doing is I'm selling $5 wide butterflies at each strike And once your total credit adds up above $5 Because they're 5 wide, then it's a free shot Well, I usually, I'll start Not always, but I usually, if I can Start getting a dollar credit at least By about one o'clock But my first one I got filled at like Right around one o'clock for $1.10 When I was up here at 5225 And then as it kind of came down to 20 I got filled on that one, 15 I got filled on that one 10, 05 So just kind of trying to get filled For at least a dollar Yeah, so whatever strike it's trading around Is where you're going to get the most credit So I just alternate, I do calls and puts So let's see my The exact same thing, but let's see I got on my 25s, that was a call 20s, that was a put So this actually a put fly And then my 15s were a call 05s were calls My 10s were puts You could do all calls, all puts Switch them around like this They're going to overlap, but it doesn't matter I mean all this is This is what it would This is the outcome So ideally I'd like to close below 5200 Yeah, so when I did the So when I did the 25s For example I started with calls It doesn't matter, calls puts They're going to be priced identically So if I sell a butterfly here Then the next one I would just switch over to puts So if it's the 20 then I'd sell one here And I just alternate So it's not as much overlap And then it's easier to It's just easier for me mentally to keep track of But you could do all calls, all puts The strikes are going to overlap But that's your result I think doing that live Day trading live streams this morning Probably helped me miss that big push up You would have probably got in right here When it started consolidating, right? Probably I actually was long I wasn't long MU I think when I did that I'd just gotten out of a square long as well A mighty 90 Gave me two green bars I got out Right before the next bar and then it just blew up It's still a nice winner, but I was like Oh man, come on now That was up to 5208 You were so good to come back down for us Don't go back out 25 minutes to go Yeah, it sucks It's pretty tough for Delta Neutral When you're getting these types of back and forth Fiche, here you go So my NDX about 65 Almost 66% is the win rate By the way, that cumulative P&L That's not quite right Because this one will settle out It'll be about an $850 winner So take about 4 grand off that As far as the profit goes And then I also was doing it a little bit different Let's go from like February 12th is when I first started Doing it the way I do now April 2nd About 65% Which falls pretty close in line One standard deviation is 68% I'm usually right inside the standard deviation So that's about right Uh-oh, Dr. Chad The Chad is back What's that? Is that a question? I was just saying he's back He's coming for you No, no management on those Chad, just I just let him expire Yeah, NDX, that's not what we're looking for here No, it's just Today's been a wild ride of VIX pop-up VIX pop-down S&P pop-up and down So very hard to be dealt to neutral I'm surprised I'm Green with my TLC trades, honestly I finished plus 1,980 DTE and NDX, not good Well, NDX Still got a chance But Hedge has been awesome In the short amount of time I've been trading it I think the SPX back test that I showed Has like a 53% win rate I've only had one loser 85% winners So it's outperformed itself So far Now the one put on yesterday will be a loser One expiring today Yeah, that'll be a loser Although we do have 20 minutes left So Never know We'll break even VIX all the way back down to where That spike happened Yeah, I need about 12 points lower in NDX Well, I was sitting pretty under 5200, but Now I'm back to the Minimal profit area My flies SPX back in the green NDX is barely green We need NDX to finish barely red On the day Still got my 1DTE going 28% Got the MOC number here in about 6 minutes We can get big MOC trade to end the day This does not look like it's gonna Do it for us VIX coming down below Where that spike was See the 52.15s Only trading for $1.50 I don't think it's gonna get there Only got 5 minutes Of course it gets to $2 Of course we're in between strikes Had a great conversation this afternoon With everybody's favorite Italiano Mauro Look for that on an upcoming pod episode Good stuff, I think you're gonna like it Well, since it looks like it's pushing up And there's only 14 minutes left I'm gonna go ahead and get on the road Since I don't have any positions Other than the NDX So Get the boys from the bus stop Yep, we'll catch you all Tomorrow live in the morning Peace Shadow we stream in live at the open For Mighty90 and Runners 52.15s Currently trading at about $1.75 Maybe With 12 minutes to go With 2 minutes to enter Put my $2 order in I don't think it's gonna hit Let's get a big MOC sell number $7 billion on the sell side Is what I'd like to see Coming out in about 30 seconds Yeah, that V slap's been a magnet today The expected V slap Acted as a V pop and a V slap today All right MOC number incoming About 10 seconds Trading up to $1.90 I'll cancel it right after the MOC number $1.6 billion sell side So no MOC trade Going once for $2 Going twice Oh, filled Okay, I'm in Filled at $2 on the 52.15 My vertical is in So I just need a little movement Either way, preferably down for my NDX Madam, did you get in? I gave it an extra 45 seconds And I got filled I got filled on my remaining One lot on my So I made this from $4 to $5 So on my earlier fly's worst case scenario I'll make $5.75 Need a move away from $15 No, I'm going to pass On the $2.5 I haven't been trading that I may even take that off my plan VIX hanging out at $14.3 All right, SPX Need a little shake and bake Shake and bake, five minutes to go So Madam, for your verticals Are you doing Credit spreads for both Both sides I guess it would just be on one side Yeah, okay All right, a little bit lower My call spread should get filled Just trading at $1.10 Or below $52.10 There we go Oh, I got two Okay, there we go Now I'm Footloose and fancy free So I got filled on the call butterfly And the call spread And I got filled on my 1DTE Made about 39% on that So here's what my magic Mahomes looks like Worst case scenario Make $2,000 If we rip above $52.20 By chance It could make $12,000 It looks like my 1DTE closed for Plus 37% So my challenge portfolio ended down About $4,300 on the day So I gave back about a third of what I made yesterday A little two minutes to go Let's see big bounce And the X And the X needs to move down I'll take a move down $52.12 One minute to go Yeah, I cheated a little bit I gave it, I gave it I got filled like 45 seconds after No, 29 seconds after So I gave it 30 seconds Past my Past the time I like to get filled I got two bucks Three, two One Ding, ding, ding I say made Made some back with Mahomes $2,000 on that one and then On my earlier flies What was it, five something Plus $5.75 That helps All right, all Chad will be streaming live in the morning For Mighty Ninety and Runners We'll be back for Power Hour Everybody have a good night