 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 We follow the plan, that's how we get paid Test and trade, 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 date options, time to make bank Get locked and loaded, then be ready to play Ay What's up everyone, welcome to Power Hour Live on a Monday Monday August 21st to be exact Hope everybody's doing good, like a lot of you I just got stopped out of my quiet lunch Hit both profit targets on my AM ratio Hit all profit targets on the Dick K special But stopped out of the quiet lunch Not so quiet lunch, quite a rally So we're at highs of day for SPX Still within the expected move from the beginning of the day Both to the downside and the upside But quite a reversal So I've already bought my longs for Power Hour Looks like it might be the 4,400, 4,395 Potentially, we push towards a strike, we may get a straddle If you are new here today, all the comments, posts, questions Make sure you post those in the zero live chat channel and discord SPX just below 4,400 Up 27, Russell and Dow still slightly red Nasdaq on fire up over one and a half percent today Give it a couple minutes, see where we end up for trunch number one So it looks like 4,400 on the calls And possibly 4,395 Could be 4,400 on the puts too if we push up Alright, coming down to the time Let's see where we end up here in just another few seconds Putside is right in between Looks like it's going to be 4,400, 4,395 Five points wide, we get filled at six Filled at 6,05 for trunch one So we are in for trunch one I bought the longs just before I got on So it's, I mean When I set up the OCO orders, I just do the shorts But I've got the longs The longs will end up being worthless, but I'll just manage the shorts here Got in at 6,05 So if we get down to about 365 I would reduce my stop from 4 to 3 on trunch one Still got my time fly I know some of you guys got out of the time fly From last week, I have not 4,400 was kind of the level that I would look to add A calendar adjustment So if we don't pull back, I mean if we If we push up towards the end of the day, I may do it here towards the end of the day If we pull back, I'll just be holding Got an MES short strangle that's getting close to profit target It's currently trading around 39 if we can get out for 36 or less That would hit profit target That's on our 60, one with 60 days left So the So the calls I just buy the first ones that are 5 cents So you can see it was the 44, 35 On the call side, those were the closest ones That were 5 cents at the time I bought them And then on the put side Because they're going to be further away, I bought 10 cents I bought them for 10 cents, so it was the closest to At the money that were 10 cents at that time So I'm just trying to buy cheap wings but still have reasonable Buying power So your decision in Deciding That obviously sounds like you understand how to pick the shorts But the wing width is going to be Based on kind of your Comfort level as far as how you want to structure that with Your account size, buying power, all that stuff I'm just trying to buy the cheapest wings That still give me a reasonable buying power So the castle and the dow still slightly red Regional banks and real estate and retail red Energy red Financial slightly red Semiconductors and tech still strong As they have been all day AMC down 22% Nicola down 20% Tilray down 6% Moderna up 9.5 NVIDIA up over 7% Wow Tesla up 7% SPX hitting new highs on the day Meta up 2.5 Microsoft up 2% Amazon up 1% Netflix up almost 1 Apple up 3 quarters I will go in with Trunch 2 At 2.15 my time Central Here in about 12 minutes Afolos does that make sense on the width of the wings? Yeah, he does. TGIF is down slightly My 6.7s Up a couple hundred The 1.3 DTE That I put on earlier is down I will be putting on a 2.4 DTE double calendar here Towards the end of the day as well So Afolos what you'll want to do is Check out the check out my trade plans It gives you the link to all the back test Shows you all the details of exactly how I enter So Trunch 1 I'm looking for 4 bucks Of credit with a $4 stop Trunch 2 $3 credit $3 stop Trunch 3 $2 credit with a $3 stop So you'll want to And do you have Option Omega You'll definitely want to be getting that To kind of help Kind of create your own plan Oh yeah I do Speed's up 30 And then I don't use a profit target For power hour I just Will let it go until 5 minutes Till the bell Here's the link To the trade plans channel Got the video And then I also got a spreadsheet in there That gives you everything Right there Appreciate it thank you Can you hear me by the way? Yeah I know the zoom is not open For A little hairy with everybody Trying to talk so now We just use this channel You are welcome sir I probably didn't hear you I forgot to meet everybody I probably didn't hear you because I Didn't have my volume on till now Alright still in nice range Here for Trunch 1 Still got a few minutes before Trunch 2 Up near the Upper expected move for the day Ticked up to $44.01 it looks like Yeah Andrew K I have If you look at the Zero DTE course channel I did a video on Using the order templates Have you seen that one? Yeah so I gave The An example as well as Shared all the order templates that I use For the different ones And so what you'll probably want You know a lot of What I'm doing is either 1 to 1 Or 3 to 2 but you'll have You can use the shared links For order templates and then you can kind of Instead of creating it from scratch You can just kind of Tweak it to your To your liking The only downside with the order templates is You're specifying Your contract size As well so anytime you change Position size you have to Have a new order template And you got to create one for every Width so if You know for power hour Well I'll pull I'll pull it up here so Let me buy my longs for Tronch 2 So again like I mentioned before I'm just buying the 5 cent Calls that are Closest to the money so that's the 44.30 Then I'll buy the 10 cent Closest 10 cenders on the put side And the puts just changed to 15 So they're not getting filled Filled on 1 so I moved it to the 65 There we go Alright so I've got my longs for Tronch 2 Now I'm looking for the closest to 3 bucks On each side which looks like it's going to be The 4400 straddle For Tronch 2 So if I go to Sell Custom See I got power hour 10 points wide, 15 points Wide, 5 wide straddle I've got Tronch 2 10 wide 15 wide 5 wide Straddle So you've got to set them up for all the Widths that you do Because I'm using OCOs Just on the short That's why I buy my longs first Because those OCO orders are just Just on the shorts And because I set my position size For a month at a time Then I have those position sizes All as part of the templates as well Next month If I change I'll have to go in and tweak each one Looking like the 4400 Straddle Choose my top My template for Tronch 2, Straddle, 14 contracts Is what I'm doing Give it another minute before I enter So I get as close to 215 as I can But then like the zero DTE Duck My order templates are set up Actually with the longs As part of the template as well Of those as a full package Alright, 4400 Straddle, trying to get filled at 640 Filled at 640 for Tronch 2 On the 4400 Straddle So you can Set them up as a For power hour those longs are just going to be worthless Anyway So that's why I do it that way And even on the AM Ratio in the morning I'm still trying to buy the cheap Wings out there so I buy those first And then I use the OCO For just the shorts But like I said with the duck Because it's a little bit different And I'm not just buying 5% Wings on those I'm actually putting that on The OCO is With the longs included in the order The only one I'm using the spreadsheet For now is the Dick K special And that's just because I haven't Because that one is Based on delta and 55 wide so again it's not necessarily the Just the cheapest wings on that one So I've been Using the spreadsheet for that one Partly just because I haven't set up The order template yet Pushing right up to the expected move Of where we started the day 4402-ish The good thing about the spreadsheet Is you can change your position size Without having to Tweak it much Whereas the Order templates you do So there's Positives and negatives to both I do like the order templates a little bit better Here's the zero DTE duck Back test And I follow along with How this does You can see it's pretty flat Over the last few months Just px still pushing new highs on the day I was trying to get logged into my trader Sink so here's my Actual results for zero DTE ducks I don't remember when I started those Let's just go year to date So Started in June End of June is when I first started trading those And I've had three losers 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 11 winners, 78.5% Win rate Until tranche 3 Buy my longs Looking for the closest to 2 bucks on each side Looks like it might be the 4405 4400 4405, 4400 Give it a couple minutes Still looking like the 4405 4400 SPX pushing the new highs again Up above 4403 Give it just another minute So I'll do cell custom tranche 3 5 wide Try to get filled at 365 Filled at 365 for tranche 3 And here shortly I'm going to be Entering a 2, 4 DTE double count There's my reminder A 2, 4 DTE Alright just posted my 2, 4 In the calendar Channel Meanwhile in zero DTE power hour land Still hanging around 4403 So you got to keep an eye on tranche 1 Got it at 605 Let's see So what did I say on that one Once it gets down to 365 I will reduce my stop on tranche 1 It's currently trading at 420 23rd Did I do 23rd and 25th What am I missing 44, 40 calls, 43, 60 puts 23rd and 25th Looks good to me I'm trading at 390 So I get down to 370 Alright just to hang Hang down here around 4400 for just another minute Changed that from 4 to 3 So I'll change that to 665 It gets down to 365 375 There we go Stop on tranche 1 to 665 So my time flies To the point where I It's above that 4400 level Where I need to make an adjustment So I'm going to add a calendar Alright Go there You can just Hug this expected move all day We'll be in good shape ladies and gentlemen Maybe dip down a little bit before we exit 4400 Is the ideal number Take a 4400 pin today 10 seconds summary of the Time fly strategy Really do it justice We've got a full class on it In the butterfly course channel But it's essentially A Butterfly and a calendar Hence the name time fly Another name for calendar spread is time spread So there's a couple Different ways to trade it that we talk about in the course But I personally like to start With just the butterfly And then add the calendar as adjustment But you could also set it up as one structure Butterfly and a calendar to start So like that calendar I just added When I put the butterfly on first Some people got at it It was up over 5% So we're targeting 5% to 10% I was holding out for a little bit more As price was coming down today Obviously that reversed So now it pushed up to my level That I stated before the When I entered the trade that if it gets Above that 4400 level I would adjust And so I just made that adjustment Because it's very dry for premium I'm not sure about that I think that's one of those myths The Russell is back in the green Finally Dow hanging around unchanged Nice contraction and volatility Our VXX trades are doing good SPX at highs of Day Yep, that one's down That monster got that big monster move up Volatility contraction Pretty close to that, right after we got in So that Will do that to it SPX pushing Stopped out of Trunch 1 at 685 So about 80 cent loss For Trunch 1 No, not trailing, just reduced my Stop from 4 to 3 at 40% Above 4405 Trunch 2 stopped At 940 Spreads currently trading at 715 To 4406 What a bounce Trunch 2 is trading at 840 Stops at 940 Trunch 3 is at 455 Trunch stops at 665 Gonna need a little Settle, just a few points Lowers all we need Just a little pullback Settle back in under the expected Move line Let's call that the high of day Keep pushing, you made your point Got a nice rally off the bottom We get it Just calm down Everybody just calm down Yeah, did everybody Stopped out of Trunch 2 who are Trailing My fixed Saved me, I guess on that one No 1-2 today, Andrew K I'm doing it, I did a 1-3 And a 2-4 Got some ratios in here, nice Got 11 minutes till the bell 6 minutes till exit I mean 4400 is just a nice Round number to pin at, if you ask me A little bit of juice left That's for sure Tomorrow we've got quite a few FOMC members speaking In the afternoon Ghoulsby, Bowman And then Ghoulsby again That's what I've got on the 4x Factory Calendar anyway Just creep Creep on down Nice and slow Trunch 2, I'm going to put that at 3 bucks Currently trading at 4 Trunch 3 I'm going to put at $1.30 Currently trading at $1.45 See if they can come take me out Here in the next minute Get back down there You're doing good $4.75 for Trunch 2 $1.50 for Trunch 3 $1.50 for Trunch 3 $1.50 for Trunch 3 $4.60 for Trunch 2 I'm out So that was a good winner So Trunch 1 I got in at $6.05 Stopped at $6.85 So lost $0.80 On my smallest position Trunch 1 Trunch 2 got in at $6.40 $4.60 And Trunch 3 In at $3.65 Looks like it's coming down For that $4.400 pin $4.402 I'm going to jump off here I'll take that That's a good win for Ph Let's see As far as the live stream goes For tomorrow Which is the 22nd I'll be streaming live in the morning And for power hour tomorrow Friends, take care, have a good night Talk to you soon