 It's the 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 Hey, hey, let's not 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 I will, I will live, 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 What's up everyone, welcome to Power Hour Live September 7th Hope everybody's having a good day Booked a profit on the DKS this morning It first profit target, stopped out on the rest For a profit but still a nice little winner Got a quiet lunch on that's doing A-OK Took off half at 40% Got the last piece to come off at 80% Which it's currently trading at 580 And my profit target's at 390 So need a couple more bucks to come out That's what we're here for Ken Power Hour is the dessert So for Power Hour We are looking at a raggedy old straddle again My friends, raggedy old straddle We'll buy some longs here In preparation for Trunch 1 Right now it looks like the 4450 Give it a couple minutes So obviously we had that big gap down And it's just been kind of pushing And pulling back, pushing and pulling back all day Bounced up against the upside expected move A couple times Pulled back Now we got another little bounce coming But the Nasdaq, well the Nasdaq's bounced a little bit now But the Russell's staying weak Russell's still down over 1% Nasdaq was staying weak there For a while, still weaker than S&P obviously But catching a little bounce here So Trunch 1 Just about that time It's like the 4450 4450 straddle I was looking at the inverted strikes for a minute I was like wait a minute But my mind was playing tricks on me The short squeeze would be up If SPX was up a half percent from its open It's only up 0.39% here So I'm just doing one to one 4450 straddle Here we come Trunch 1 straddle Trying to get filled at 740 Filled at 740 And we are in for Trunch 1 Had high hopes at the beginning of the day For a strangle For Trunch 1 but This bounce just sucked it right out VIX is only up less than 2% now Peaked its head up to See the high of VIX today was 1569 Now it's at 1471 I was scoping out some VXX verticals And when it was pushing up I had one modeled out But I was just going to see if it was going to push any bit more If stocks were going to continue at all But got this big bounce Taking it all away I did add a new short strangle in oil Whenever implied volatility was a little bit higher That's already come in $99 The short calls on one of our MES strangles Is getting close to 50% but not quite there So I'm holding off on that It's pretty well centered Our duck in QQQ is about back to where we bought About back to where we entered it Got a time fly and SPX that's up Two or three percent If we get it down move into tomorrow We definitely should be hitting some profits on that one I do have $4 stock, Raj You can check that out on the trade plan sheet It's always there as well In the trade plan channel A little push out of SPX Alright, how's everybody else's trading today? Did you guys book a couple winners on the DKS And quite lunch so far? Anything else? Some each had an AM ratio going Mine did not set up Big gap down for Thursday But as far as Thursdays go It's been solid I didn't do any grocery shopping But I did take the opportunity Quiet day to get away from the screens And go hang out at my pool for an hour Just before I showed up for power hour That was my first encounter at the Office pool Not too shabby Took some hot bone broth out there with me Great afternoon Dick K, AM ratio win, DKS win PM did a few, all looking good No power hour except for Trunch 2 Gotcha, nice Yeah, Murph Dog, I got a A few months ago I bought a condo as my office So it's nice, I got my own gym I got my own kitchen, I got my own pool Just been a little under the weather the last couple of days So I was like, I'm gonna go get myself a little vitamin D And just relax by the pool with some bone broth Hopefully SPX isn't trying to break through that Upper expected move, tested it a couple of times Heading back up towards there a third So that's where she's doing the cold plunge Yeah, that'd be cool if we had a cold plunge That I didn't have to operate myself Yeah, anyone's in the situation where it would make sense To have a separate office I highly recommend just getting a condo I had been renting and I just, they kept Jacking the rent up more and more And finally I was like, you know what? I could buy a decent condo I have a lot of different amenities and own it For less than what I'm paying in rent So that's what I did And I would highly recommend it I used to just work from home But with animals and kids and Amazon Showing up with my wife's package every 10 minutes Just too many distractions Had to get out of the house Yeah, London is probably not the most affordable place to do that Yeah, fortunately Casey's not too bad And I searched, I searched for good Well, I had Zillow notifications coming For about the last year So six to nine months before I pulled the trigger I had a pretty good feel on the condo market Found a nice one Two bedroom, two bath Lando comes in sometimes He's got his own office Come on down Little pullback Still got 10 plus minutes before trunch to Come on over, more than a year One of the bedrooms is Landon's office I have my main station out Kind of in the living room I've got another room that I use as kind of a Thinking meditation idea room I've got a four foot by six foot Huge glass whiteboard on the wall Got a little bed in there Little day bed That's where I go to reset I am in the 4450 straddle, yep And we're right back to center boys and girls Little decay coming in so far So let's see, I got in at 740 So I'm looking for 445 To reduce my stop on trunch one Trunch one charted Alright, so I need 445, it's currently trading at 660 So I've got a little ways Murph dog Let's see Yeah, so I don't base it Off of a necessarily a percentage of my account So I'm not changing my position size Every time my account moves As you'll see in my trade plan I simply set my position size At the beginning of the month And that's what I do day in day out On each particular strategy For the entire month And so when I'm setting those position sizes I do take into account Which of these positions might overlap As far as meaning I might have a position Or part of the position on In conjunction with the next one I put on So I determine what kind of situations Those that I would have So in other words I want to know What's my max exposure at any one time And so that's how I position size I just So yeah, I look at I go through the trade logs I figure my max risk Based on the stop that I use on that strategy I go through the trade logs Try to feel that And then just set my position size On what I'm comfortable with And then each month I decide What that position size is going to be For the next month So I might increase it I might decrease it Whatever I decide to do at that point But it's not necessarily based on a percentage Of my account So hopefully that helps And I think if I had an account Where I was only doing zero DTE For example I might do it differently I may just I think kind of like Tim Weiss does He kind of compounds based on current account value But I'm trading a lot of different strategies Out of the same account So it doesn't really make sense for me to do that SPX coming down Yeah, I can't I guess I mean kind of to some degree But it's more of just a comfort level On a dollar amount Feeling if I take this loss If all of these So hit their stops What's that loss I just think about it more in a dollar Amount And then of course as my account grows I'll continue To feel more comfortable But I also withdraw money out of the account So It's not always based on a percentage It's more of a Comfort in that dollar amount Of risk Five minutes until trunch two Like the 44 Could be a 44-50 again Give it another minute For the closest thing to three bucks on each side For trunch two Looks like the 44-50 straddle Give it just another minute Couple of decent little five minute bars there Down and back up Alright 44-50 straddle Try to get filled at 620 Filled at 620 44-50 Straddle So load it up At 44-50 So I'm Scaling down To a three point stop At 445 on trunch one And then for trunch two I got it at 620 So 370 Is what I'm looking for To scale down my trunch two stop Quiet lunch My target is at 390 So just a little bit more decay And the rest of that quiet lunch will come off at 80% Need a little pause Or a two point drop Should hit it 15 down to four bucks Trader Bianca hit her 80% About 15 cents away There it is 390 So out of my quiet lunch Nice, that's a nice trade Very nice, very nice Thank you Let's bring it home Tell you what, yesterday was a Good challenging test To sticking with the plan, wasn't it? Power hour, I'm talking about After a brutal morning Where I lost on an AM ratio I lost on a DKS I lost on A duck So I was down pretty good And that's on the back That was a really good day So giving it almost all back The next day And then coming into power hour When the premiums were tiny Some of the lowest premiums we've seen I don't know about you guys But I was thinking, oh my gosh If I get stopped out on all three of these Trunches in power hour Not only give back everything I did The day before But I'm going to take a huge loss But I did it, followed the plan And what did power hour do? It gave us three nice winners Got me back Almost everything from the morning JSP didn't trigger Because at least on mine did K, because I have a filter that It's got to move up above the open By a tick 0.05% That was a filter that Dan B came up with Filtered out a lot of losses Took less trades, but filtered out Quite a few losses Basically yesterday was a perfect example Where it opens up and just continues lower I didn't take that one Because it never gave me a bounce To enter So that saved me on that one Were you flying and trading, Dick? I think you said you were on your way to the airport After you entered some morning Yeah, yesterday I met So you posted a few things that you're getting into But you're on your way to the airport Getting ready for Trunch 3 So it looks like we got a 55-50 Stringle The DKS in Option Omega Showed a Win But I got stopped out at 200% It's like 45-55-45-50 200% of credit received Yep, exactly Another minute for Trunch 3 I would assume Maybe just slightly different strikes Or whatever, I mean it bounced Pretty close after I got stopped out So Just be a slight variation I could have got in a couple minutes early Whereas I got in right at 10-25, I'm not sure I didn't look that closely Thank you, Elliott, for sticking up for me Kelvin's calling me names Alright 44-55-44-50 Trunch 3 Build at 3-25 3-25 it is Trunch 1 and 2 are down to 580 I need a 445 For Trunch 1 Alright, so 44-50 is the number Alright, 44-50 it is We only had about a 10-point range Going back to Midday Just go ahead and stay right in this range We don't need any breakouts Anybody is new here We are locked and loaded with all three of our Trunches So we've got some downtime So if anyone has questions Or Needs us to fill in the gaps On anything Feel free to post Andrew K Hey everyone, for Zero DTE I'm only trading AM Short, IC, Rick, PH What other strategies would you add to diversify? I'll tell you what The quiet lunches and the PM iron condors have Been really solid lately And DKS, yeah We only had one losing DKS so far In about the last month Think about the quiet lunch And the PM iron condors They only set up sometimes So it's not like you're You're adding a New daily strategy By any means But They've been good And then the Ducks and the JSP's Basically have the same setup criteria So I've been doing both But you could choose either one Or the other on those two Keeping back up a little bit Back up Keeps wanting to Sniff that expected move Area about the 44-55 Trunch one And two trading down to 5-55 I'm looking for 4-45 To reduce Stop on trunch one Sorry my friends I'm just Clicking around on some other stuff while we wait Right back down to the 45-50 Oh 4-90, 4-85 Getting close on my trunch one Changed that to 7-45 If we get there Got to see price get down to 4-45 And then I'll change my stop To 7-45 From 4-3 Trading at 4-70 4-65 As far as the Ducks go I don't even use the analysis tool On the zero DTE Ducks Really I'm just looking for a minimum premium Of 5-75 That way You know you're getting at least a $75 credit to the upside Per contract That's exactly right The width of the call spread Is $5 So anything above $5 Gives you profit to the upside So that's what I was saying I got a minimum premium of 5-75 So I know that at least $75 Per contract Is what I'm getting to the upside Yep we're always doing the 60 Delta on the call side And then 5 A fixed strike offset Of just one strike 5 points Sometimes 10 points away I've got them 10 10 and 15 points away And then the You know the difference In your puts is just Whatever you have Set at Now to 4-60 I'm looking for 4-55 Looking for 4-45 I saw 4-45 Changing my stop to 7-45 Now I'm looking for 3-70 To adjust my trunch to stop I was being a good little boy so far So coughing up All kinds of stuff I thought I had COVID I was pretty sure I had COVID My body was aching A little bit of a fever Respiratory issues But I took a test I was COVID free What do you mean Maro? I love wearing a mask Well with this new variant It's actually You can get it through your speakers So if I'm talking It actually travels through the microphone And so you have to wear a mask While you're trading power hour It's a new really highly Highly contagious version Trade hackers fired up Trust me no one's more fired up About that than myself I'm trying not to think about it My blood starts boiling I only did some nasty things to some people No doubt about that Not trying to be insensitive about that But a lot of ridiculousness going on As we all know In Maryland? Is that MD? I heard rumors Of they were going to try To start doing some mask Mandates again I was like You got to be kidding me I don't think it'll go over as easy As it did This time around 44.53 Trunch twos at 5.50 I need to come down to 3.70 To reduce my stop You got to wear a mask Don't If you need to wear a mask I don't think I'd really care What anybody else had to say I was looking at it more from the other perspective Being shamed for not wearing a mask Picking our heads back up To the expected move for the day The 44.55 level With its reduced stop Is at 7.45 That spreads currently trading at 6.65 Gonna need a little pullback With a little less than 15 minutes to go Pullback, pullback Let's pull back a few times From here today Just need one more One more little one SPX Time to simmer down Simmer back down Under your 44.50 level We go, little buddy Just a little more Alright, popping back up Stop on Trunch ones at 7.45 Currently trading at 6.50 A little over 10 minutes Until the bell How about a nice 5 minutes And 5 points lower 1 point per minute Oh boy, wrong way Stopped on Trunch 1 at 8.05 So that's 50, 60 point slippage 60 cents Trunch 2 Stops at 9.20 Spreads currently trading at 8 bucks Just had to get us out of Trunch 1 Now it's gonna come back down Just had to poke its head up For a new high, high of day Didn't like the feeling of that So it's coming back down Picking around 44.55 I was gonna ask a trailing stop, yeah Alright, well the fixed stop Saved me again on Trunch 2 So far Trunch 2 back down to 5.50 I'm looking for 3.70 to reduce My stop It gets down to 3.70 I'd put my stop at 5.70 That's a beautiful candle I believe they refer to that as the spinning Doji hammer Am I right? Alright, down to 4 bucks Need just a little bit more 3.75 There's 3.70 Changing my stop to 5.70 on Trunch 2 It's almost time to exit I got a minute to bail Alright Still some juice left in those options They are straddles Trunch 3 is not a straddle So on my discretionary Basis for my trade plan If I have a strangle I can decide to hold it So Trunch 3 I'm gonna just I'm not gonna adjust my thing yet We'll see how we move here in the next minute Trunch 2 I need to get out of About 4.30 Fill it 4.30 to close Trunch 2 So I've got Trunch 3 left Wanna move lower I'm gonna try to get out of the buck 40 And should be hitting Fill the buck 40 to close Trunch 3 So stopped on Trunch 1 Let's see Got into Trunch 1 at 7.40 Stopped at 8.05 So 65 cent loser On Trunch 1 Trunch 2 In at 6.20 Out at 4.30 So a couple dollar winner and then Trunch 3 At 3.25 Out at a buck 40 So 2 out of 3 winners And the loser was a small loser So I will take it my friends I will Take it Alright so tomorrow I'll be streaming in the morning At the open as well as for power hour Should have a little more to do Hopefully tomorrow Than we did this morning Alright my friends have a good rest of your night See you out with you soon