 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 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 up to Miss 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 plank What's up everyone, welcome back from a long weekend Today's February 20th Well the market did not welcome me back with open arms this morning Like I thought it would I mean you'd think after a long hard, grueling holiday weekend That SPX would welcome us back with open arms But that didn't happen, I got stopped out of my JSP Stopped out of my 1DTE, stopped out of my O2 call calendar Stopped out of my AM ratio I still have my NDX trade on And with this little bounce, it might be coming back into range It did, there was no 15 strikes It ended up taking the 5 wide on the put side Which actually ended up helping with this down move So I got lucky on that, but it's got to get above 25 To get back into range on NDX On my, let's see, on my Re-entries, they haven't done too bad Well I got stopped out of 1 Let me see here So my re-entries Yeah I got stopped out of the first one And then stopped out for profit Stopped out for profit, stopped out for profit And then I'm in one that's up 27% And I'm in another one that just entered So my plan for power out today is A, I just entered the Wuga Which is right here I got in on the 75 calls, 70 puts And then one of my re-entries just fired So I am not going to do a trunch one for power hour I want to double up at this price level We are in a normal day So I use that as kind of I've been doing that kind of discretionary I may look at a trunch two and trunch three Real quick, I know we got some new folks in the house So I just want to give you a quick Do a quick little housekeeping comments Number one, if you go If you look at my screen, I brought discord over If you go to the zero DTE course channel And scroll up a little bit There is a new member zero DTE checklist So make sure you check that out It lists kind of the step by step Kind of what you should do to get started Part of that is In the trade plans channel This is where every month When I update my trade plan To share exactly how I will be trading I post that here And you'll see some other members Trade plans in here as well You can see here's my February plan And here in the next week and a half Or so I'll be putting out my plan for March So I trade things a certain way Chad, who's on here as well Chad, you on here? Yup, afternoon So Chad, you can check out his trade plan In the trade plans channel as well So he's doing things a little bit more Discretionary based on price action Where a lot of my trades are based on Or more back test driven So it's a lot of information So if you're overwhelmed That's normal Just start clicking away On some of the goods There's a lot of gold in here So welcome everyone who's new Chad, how's the TLCs doing today? Yeah, so I had several put on today My AM number one It's completely closed out for 1990 profit My AM number two got stopped Before it was on that first big down move So that was a full loss Minus 3,000, 320 My AM number three Did a 20, 40, 60 and out And a 1980 winner My lunchtime number one I'm out of That's scratch trade I hit it 20% and then it's got stopped So it was minus 75 bucks Apparently a lunchtime number two You're kind of cutting out Chad Your audio just went out Yeah, can you hear me? Yep Can you hear me? Yeah Can you hear me? All right, well Chad's taking care of his audio Let's see what else we got going here I've got some short premium in These are non-zero DTE related But I've got some short premium in natural gas I've got some short premium in corn I put on a new duck in rut today VXX vertical is Slightly in the red Not too far off from where we put it on Let's see what else we got here I've got some short premium in MES That one's up a little bit Another MES that was profitable after adjustments Took off a new time fly today For over 10% Put on a new time fly In the March 8th cycle Pretty close to where we put it on Got a couple of ducks in SPX One of which is in the February 26th cycle Well up the beak One of which is in the March 5th cycle Little ways up the beak My two re-entries that I have on This one's up about 32% And then I've got a 3-2 that I just entered And that's just up a little bit All right, there you go Chad Can you hear me now? Okay, so I'm not sure where I cut off But I'm in my first power hour trade So I just posted that recently here So overall I can stay green here if I can Book a power hour Hey Alex, if you go to the Strangle course It's in the option selling category Go to the strangle course And then I mean you want to go through the whole thing But The updated lesson is Lesson 11 is called short strangle variations And that's More in line with the way that I'm trading them At this point And that's not That relates to whether you're Selling premium commodities Or stocks or indices or whatever So Wuga took us down last Friday So hopefully he can Bring us home today I don't know if Wuga's here with us today So we got S&Ps down 28 NASDAQ down 175 Russell the weakest down 30 Dow down 30 Basically unchanged Gold a little bit higher Silver lower, notes and bonds higher Ten year yield about half percent lower Oil and natty gas down a half percent Grains are green Wheat up almost four percent Euro in the pound green Bitcoin slightly green VIX 15.33 currently VIX got up to Almost 16 earlier Currently trading Getting close to lows of day I guess we opened a little bit lower Also if you're new So this month I've been doing a lot of different Testing and doing some different Discretionary trading Which you'll see in my February trade plan But if you click on the January Tab at the bottom of the sheet For my trade plan you'll see A lot more strategies that I was doing Prior and some of which That I'll be bringing back in March But this was kind of a A little bit of a different month Of trading for me While I was just trying to figure a few things out I was trying to figure out what I wanted to be When I grow up So my re-entries are in good shape My Wuga is in good shape I was kind of hoping we wouldn't get any more push up there It's pushed up far enough Oh I did Make a nice little profit As we came down to the expected move I sold a bunch of puts And caught that move up and got out Pretty much painted the bottom and the top So that helped That actually made me green For the day I sold the 4975 Puts Bought the 4900 So vertical Got in for 1195 Scaled out at 810-710 So that was uh That was good Did some futures trading today ES Cut that move in ES And then I pulled back I tried to get long again Thinking we were going to continue higher Got stopped out on that So basically gave it back And then caught a little winner in oil And a loser in corn So futures down about for 85-ish on the day Just got filled on something Like I got out of half of Something here 20% I'm sorry, I take that back My lunchtime number 2 got filled Lunchtime number 2 I've been Working on this kind of end of day Strategy And I spent I probably spent 12 maybe 15 hours Testing and trading it On thinkorswim On demand Grueling You guys don't like paper trading Talk about trading on demand That's even worse But anyway So for the last 20 minutes today I'm trying to work some things out So for the last 20 minutes Chad's gonna take over and share his screen So I can focus In a live market here And then I'll jump back on Towards the end Just filled again Filled on 20% of my power hour number 1 My Wuga is up about 9% My two re-entries are up 33% and 20% Yeah just kind of I'll be sharing it I wanna If there's a lot to it So I wanna share it with an example But yeah, I'll be sharing it Very soon If it sets up maybe even Today here I did put on a one two DTE double calendar Today That's pretty much Pretty close to where I put it on 6.7 is down a few percent I took off I was up about 10% Which one was it My 4.6 I was having platform issues Tradehawk did a big update And Everything together It reversed So I ended up taking a loss on that one Took a win on the 4.5 A loss on the 4.6 And yeah still have the One two from today And the 6.7 I traded the O2 call calendar This morning it got Closed out for about a 3% loss Just need price to kind of hold Right there You're still holding Cosmo Pretty right? Yeah bullish Yeah on normal days Like today so when it's Not down over half percent Or up over half percent from the open I call that a normal day So in February if you check out my trade plan For February you'll see I'm either not trading it Or I'm trading it on a discretionary Basis so Not trading it today I had a couple orders From my reentry strategy And this 10 wide No stop version come in Right at the same time so I didn't want to load up On the same price level so I'm not trading my typical power hour Today but Yeah you can see it in the trade Trade plan exactly how I trade it There she goes Looks like she's wanting to push up again See if it gets rejected or not God forbid we have a red day Just closed part of my reentry SPX has just been kind of Grinding higher ever since it Bounced off the lows of $49.55 I wouldn't mind it coming back down to about $49.65 My NDX Coming back into play Discount I know you posted your NDX trade what are you Are you back in range yet I think you had maybe a little bit higher strikes Than mine if I remember right Okay yeah so you need another You need another 20 on the NDX So this is the time that I would Start normally entering my power Hour trunch number two And I'd be looking at probably the 80 calls 75 puts And I'm just rolling with One power hour for now because I still have A my lunchtime Iron condor Number two on so I have two current Positions on so that's enough For me right now so news For the week so Tomorrow we get the pleasure Of some fed speakers One is before market one's at noon And then we got the meeting Minutes coming out at 1pm Central which Usually is not a big deal sometimes it Is if they sneak something in there Thursday pre-market Unemployment claims flash Manufacturing PMI flash services PMI And nothing on Friday There you go leechy leechy 101 Wuga is The name of one of our members I think he's here today But he started trading this so we just Call it the Wuga SPX 5000 I'll take the under I I think I've been kind of thinking We're going to have an updated model too Actually yeah I don't like that bet I know you're being generous I hear you but I don't know You can't keep a good SPX down I mean we've had two down days in a row Or Got a little end of day bounce going Feels like A rally tomorrow Big thing to look for tomorrow would be A video earnings Oh is that tomorrow Yeah after the bell tomorrow I'm sure that will have an effect On the market after After tomorrow Yeah sure will 221 after market It's a little 153% Implied volatility in those front week options In Nvidia Yeah I know I saw that today Expected move between Now and the end of Friday is about 78 I bet it moves more than that I don't know which direction But I bet it moves more than that Big K quit trying to take all my money I'm scared to bet you Is that what you want to hear? I'm scared to bet you My wife won't let me Yeah I'll take a I'll take the bounce tomorrow But don't feel obligated I mean I know you feel sorry for me But come on I still owe you two barbecues Alright so my Wuga Is about 20% My re-entries are up 32 and 38% Oh yeah I forgot about the side broth He sucked You snuck that one in at the end That bone broth Will keep you healthy You have to eat a bunch of ribs You just take a little bone broth down and you're good I could go for some barbecue about now Naughty dog I've been on a different bone broth Lately you still have bone broth in it I'm on the kettle fire Kettle and fire is the brand It's not very cheap but it's good I didn't mind those little gelatin Deals But the kettle and fire is much better So the Natty gas market closes 130 Discount Yeah so you really don't want to try to Try to trade those after hours Our number one Hit 40% A lot of 40% booking So you don't have any hanging out there without At least a 20% hit right Nope So you gotta Get your green day locked in Yeah green day is definitely locked in Oh I just hit 40% Yeah Just hit 40% On lunchtime number two So I'm either hitting 60% Or I'm getting stopped out next Always good when you don't have any anxiety Over power hour Or I guess the last 30 minutes of the market Yeah once you get that Once you get that stop reduced And take some chips off the table Different feeling Yeah let us know discount I checked those out I checked those out I checked that out before I even knew about trade steward But never really did much with it Don't they charge on a per They charge on a per bot or per trade It's like a per trade basis isn't it Or something Something kind of weird Per trade yeah Yeah once trade steward comes out with the Ratchet down stop So like once you hit a profit target It ratchets it down to That'll be big for me Trade plans channel bullish Yep in the trade plans channel There's a video and a spreadsheet And on the spreadsheet it has Every single strategy that I trade Yeah you got to have option omega Because that's what all the tests are based on They're all back test driven So Those guys give all of us NT folks 50% off If you just go to navigationtrading.com Slash omega I think that takes you right to the Right to the discounted Page Yeah if you're going to be trading back test driven Strategies you got to have option omega K you didn't get stopped on your one DTE What's your stop I got smoked out of mine I got a $6 stop I got hit That's high enough SPX Yeah Andrew K you got to go beef Chicken I mean it's okay but Beef Beef is what's for dinner I got stopped out of lunchtime number two After booking 40% profit Yeah just barely So my Wuga is up about 15% Now needs a little down move My re-entries are up 37 And 34% So Dick K you were on the Both fives and the 15s 224 million to the sell side So my one DTE I was on the I was on the 49 60 Puts and the 50 15 calls Are you going 7 bucks Are you targeting $7 premium Dick K Good boy SPX good boy Hmm the difference must be Of what you're doing Dick is your Your long legs you're targeting A buck and I think I'm targeting I'm targeting 15 Or 20 cents up to 80 wide So I'm basically 80 wide That's the difference No down move here I just get filled on Stopped out of my Re-entries for profit Sizeable down move wow Where did this come from For 5 cents That blows Holy moly I got stopped out of my Power Hour I'm glad I booked 40% Where this came from I got my puts and see if I've got any Worth anything now That was very rude Is that Schwab Elliott Not excited about that Schwab Transfer Anybody else here on Schwab Have issues like that I've heard Elliott posted Bunch of times So you're seeing stops getting blown through Howdy Well I guess once they get connected to Trade Steward you'll have that Stopped but I guess it's better than Well I don't know if it's better but eTrade Just announced that they are Not even allowing you to put stops On spreads Well the bot algos once it hits that Your stop price it'll send In order to the market right away If they don't honor that That's a different story Well I am pretty much out of everything After that push down Still got my Wuga Sitting on the edge My last reentry Pushed it right back to center so it's good for that one Well way to dig yourself out of a hole Dan B Alright it's about 20 minutes Till Chad do you want to take over the Screen share Get in here I'm going to work on this little end of day deal I'll come back here before the bell And if it sets up I'll share what I did If not I'm going to wait for another example But there we go Alrighty I'll be back So I'm out of everything I do have one trade still on in my second account But my One that I trade and post my fills In the discord there I am out So I don't know that I want to re-enter Anything I'm green for the day So Probably would be smart to just Sit tight Give me a second here I'm pulling out Of my second account so My other account I was I was up like 2k And this push down Stopped out a power hour For a full loss And then stopped out one that I hit 20% On so It kind of pushed me back to scratch which That was a bummer There we go so I can because I can pull this over That's why I usually just keep it on My price action But there we go So this is the only Only trade I got on and this is not one That I have posted in the discord This is my other account So I need a little Down action Really don't want anymore up action now that this Had this big Push down stopped me out So I'm not liking what I'm seeing Out of this now it's going to Bit rebounds here it's going to Make me go into the red for this account This account was up about 20 minutes Goes up a couple grand Goes to show you how fast things Can change And trust me it is real tempting I could probably put on a straddle right now For power hour number two My account here that Take a look at it Man that's tempting That is real tempting So I could do let me see I could do it in this one because that would 970 straddle Look at this Don't really like it honestly But it does have some wiggle room To the upside I do kind of like that Take that one since I'm off centered with my first one 495 Would be my Profit target Again this is not my Account that I post the The trades in What did I do wrong 770 straddle There we go Now this wasn't the price action I was looking for In the last 20 minutes of power hour A big drop down and then a big rebound Immediately Wuga hit 50% nice I closed out some of my puts in that In my account that I post the trades in Got a little bit of money from them on that move down So I can figure out My total profit loss For today in my main account 4395 I'll take that 10 minutes to go Theta is going to better start decaying quick Did 6 trades today Here's my results Where it goes Just back over here where it goes I've developed such a habit of Price movement I look left Trades I look right Wouldn't mind price just to kind of stay right there Actually I'd take a pin at 4970 Where's it going to finish at Out of half my straddle on that account Nice job Michael Todd He's just a little bit of down movement I got these two Trades on in my other account here To get out of half I need just a little bit of down movement And there it is So Getting back in the profits In this account thank goodness A couple late power hour trades Doesn't need to move up though I can tell you that Just got out of 60% of that Straddle 40% of the straddle not 60 40% got two contracts left And I might get a pin here Nice job madam butterfly Come back down there S&P don't need to push up You've pushed up far enough Back down Like to see it settle in about It's going to push up It's going to stop It's going to stop me out of my Got stopped out of Why isn't it stopping me out? It's blown right past it I have a 670 trailing stop On and it has It's at 750 it's blown right Through it 847 unbelievable My trailing stop Did not Wow That is not That's unbelievable I have a 670 trailing stop And it's at 850 9 something now I guess I don't know what else to do though It made me go from Green day To minus 1100 in that account Thanks to that last move Unreal Alright guys Everybody has a great rest of your day I'll see you guys back here tomorrow Alright my friends Not a good setup so I'll share Time Everybody have a good night Take care