 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 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 No trade hackers, get ready to go Zero date options, time to make bank Get locked and loaded, then be ready to play What's up everyone, welcome to Power Hour Live Friday, October 13th Hope everybody is surviving I think somebody posted, I saw somebody post Pretty insane how the S&P is down just a little over half percent But yet the VIX, our friend the VIX is at 20 percent Hovering around the 20 handle So, one of the questions I saw as well, I think it was Dark Avenger Why did you start kind of closing positions When the market just was barely starting to fall It was really all about volatility expanding When you see volatility expanding like that And the equities just aren't necessarily moving In fact, I mean oil is up five and a half percent But the VIX is the 30 day options of SPX So to me that just kind of alerted me that something fishy is going on in the world So I just started reducing risk across the board Maybe it'll be the right thing, maybe it won't, we'll see But I just felt like I had to do so As far as zero DTE today, the only thing I took was the morning iron condor Got stopped out of that So as far as zero DTE, that was all I did I ended up skipping DKS And oh, I did, I actually did do around the DKS time I did a wider iron condor, ended up scratching it It's kind of on a discretionary basis, I wanted to get a little bit wider I have been shorting the bounces with futures So that's been one thing that's working today Shorting every bounce at VSLAP And for power hour Looks like we are going to have a 10 wide I've already got some longs in play So I'm going to buy some more calls for Tronch 1 Yeah, all this noise for a 10 wide Looks like the 30 20s, I'll give it a couple of minutes Yeah, same size for me today, Ken No changes for me Could be the 35 20 Let's see if I have my 15 wide Yeah, give it a little bit longer here Looks like the 35 20 15 wide It's right in between on the puts Now it looks like it could be the 30 20 Right, 35 20 it is Filled at 685 Filled at 695 43 35 calls 43 20 puts Bounce right into entry So Dick K, nice work DKS worked out, quiet lunch worked out Yeah, I don't think there's any save in the AM one Yeah, Dick K on that I just started your question on the Humpty Yeah, I'm just undoing that, looking at it like Hey, if we have a big tank job over the weekend That should be fine Or if we bounce and ball contracts Then that should be fine too Yeah, what's interesting, so like on a lot of these positions Like these hedgehogs I took off You know, this is one of the situations Where it just doesn't bode well for those When you barely get any movement You know, the S&P down a half percent But yet Vic spikes 20% And we're seeing the vol pumped out Pumped into the longer dated options You know, those those things together Just kind of made me say I think I need to take some risk off Yeah, our time flies So here's the one that our most recent one We have not adjusted, that's not too far away From where we put it on We got this one, which has We put a upside calendar on It's pretty well centered now, it's up a little bit Vol expansion has helped that And then the one that we've adjusted twice Come in nicely as well, it's down a tiny bit We look at Monday You know, a lot of it depends on what vol does Between the front and back weeks But you know, looks like we could get at it 7% or 8% on Monday Possibly That oil strangle is I left that on because it's just dead centered Vol has Just got pumped in oil too So we've adjusted this a couple times Rolled the puts up, rolled the calls down So we're not down that much But not in the profits yet QQQ, I left that one on We've adjusted that one ZS left that one on, that one's in fine shape MES left that one on We're profitable on that one But actually we're pretty close to a scratch on that one After adjustments I wanted to sell some premium too But I just figured, you know what, let's just Let's see what this thing shakes out over the weekend And then we may even get higher premium next week So we'll see I just played with the old sit on the hand strategy today It's closing a lot Yeah, exactly, DK When you see that happening, that means there's some fear Not just today But A little bit longer term Especially when you don't see the I mean, look at Dow Dow is green on the day I mean The Dow is green and the VIX is up 20% Something ain't right I mean, notes and bonds are up, but not too much Oil obviously up 5.5% Add a gas down a few percent Just straight fear coming in But you're without the movement You just don't see that very often I will be putting on a 5.7 at 2.15 And then a 3.6 A little bit before the close Yep, I'll still be putting them on I'm not gonna do them with any big size by any means Still gonna put them on DK, you still loading up on the calendars today? Gotcha, gotcha Opt for dollar, are you talking about the power hour trade? Yeah, it's always the same It's always based on fixed premium For each tranche You can find that in the trade plans It's got all the back test links All the exact criteria that we use to That I use to trade it So volatility is low We're gonna be closer to the price Sometimes it's straddle Volatility is really low Volatility is pumped We get to go further away So for next week Doing a 3.6 so that my longs are on Thursday where Powell speaks And then doing a 5.7 because there's nothing on Wednesday On those shorts Nothing on Friday either That's why I'm doing those Nice morrow Win percentage, 63% 22 trades Interesting What a pretty linear Linear graph The wider you go, the more you make Never mind, I didn't see You have it in order of the P&L That's interesting One of the 20 wide is I mean it's only 12 occurrences So it'd be cool to see that built out over time I like it Is that based on back tested results Or your results May 22 I see now, got it So what's the management Strategy around that Trunch 1 Getting a little pullback now Still got about 8 minutes until Trunch 2 Cool, I like that A little smack dab in the middle So for Trunch 1 Got in at 6.95 Looking for 4.15 To reduce my stop Trading at 6.10 Minimum move up No sir, we are down on the day Not sure if you've looked at this chart Now the minimum move up is Half percent from the open Did price move up a half percent from the open I assume you're talking about The ratio version So if it's up a half percent from the open or more I do a ratio If it's not, I just do one to one I assume that's what you're referring to Nope, they're holding that theta to the end They're going to hold it right to the end That's my 5.7 DTE reminder I just posted my 5.7 Trunch 2 Need to buy some wings A little bounce here Looks like it might be the 40.30s I Okay, I tried that for about 10 minutes I had to shut it off I couldn't handle it Yeah, that would make sense Trunch 2 looks like the 40.30s 40.25s Filled at 5.15 Filled at 5.15, 15 wide 40.25s Trunch 1 is at 5.90 I'm looking for 4.15 Trunch 2, I got filled at 5.15 So I'm looking for 3.10 to reduce my stop on Trunch 2 I'm looking for 4.15 on Trunch 1 It's still trading at 5.35 Vicks only at 14% Look at that ball contraction Here it is on a 5 minute Hit a high of 20.78 Back down to 19 So I'm that little little 10 point bounce Trunch 1 down to 5.05 Trunch 1 down to 4.90 Looking for 4.15 Trunch 2 down to 4.60 Looking for 3.10 Yeah, Dark Avenger, I just glanced at my P&L of my 5.7 It's already down a few hundred bucks from when I just put it on Much better prices right now after that little contraction Trunch 1 down to 4.50 You know, the week started out so beautiful Monday was a big win Tuesday was a big win Wednesday and Thursday I don't remember Exactly I think Wednesday was kind of a scratch or small loss I'm just talking overall P&L Yesterday was green and then Today Took some of that away Did wire a bunch of money out of my account Wednesday I got to take this out I'm going to do something stupid if I don't That's my Don't do anything stupid Paycheck after big wins Oh wow, you take it out 5 days a week, huh? It's interesting Win or lose, you're taking money out Or just on wins Trunch 1 under 4.50 4.45 Better get ready for Trunch 3 Buy some Wingies Mean 20 wide 15 or 20 Looks like the 35's and the 15's or 20's Trunch 3 15 wide 4.395 How about 4.20 Wow, ordering at 3.95 Got till the 4.20 I'm on the 35.20's Trunch 1 down to 4.20 4.15 Reducing my stop on Trunch 1 to 7.15 Trunch 2 is at 4.85 I'm looking for 3.10 on that one Alright, my friends locked and loaded Anywhere between 25 and 35 would be ideal Yeah, for Trunch 3 I went 35 Yeah, I went 35.20 15 wide Still short with 3 futures Decide when I want to cut loose those I use a 20 Delta on the 5.7 Murph Dog So you should never base your trades on when I get in Short ES Should be able to get in much better pricing on the 5.7 than I did because I'm down on it already My stop on Trunch 1 is at 7.15 Currently trading at 4.70 Trunch 2 is at 6.60 I'll take off one more of my ES's I'll leave a couple on Little bounce Trunch 2 at 4.05 I need 3.10 I need that to 30 or 35 To reduce stop Trunch 2 down below 4 bucks 250 That's what I'm doing with my 3.6 Trunch 2 down to 350 I'm looking for 3.10 I'll bounce a little bit more That should get down there I saw 3.35 You can't hold your premium all day These options expire Mr. SPX Gonna have to give it up One way or another Can't take it to the grave Trunch 2 back up Bounce back up to 450 Get a little above 43.30 What do you guys think Up day or down day Monday First question, where do we open Sunday night? Up, down, down, definitely up day Definitely up or down My Spidey Senses Which work about 60% all the time My Spidey Senses say down Well, it could happen over the weekend Trunch 2 trading at 4.25 Need a little bounce to reduce that one El Piero, aka Diego Says down 3.70, 3.80 Just doesn't quite want to give me that bounce To reduce stop Trunch 2 yet 20 minutes till the bell Down a little bit Make an early indication Of market on close and balance Same 302 million sell side We're getting closer to our stop On Trunch 2 then we are Reducing our stop My Trunch 2 is trading at 7.30 Stops at 8.15 Gonna need a little bounce here Bounce off that 43.20 Down to 43.18 Trunch 2 stopped Didn't get 15 cent positive slippage So there's that silver lining Trunch 1 and Trunch 3 Still in play Still need a bounce Both of those are at the 20.35 So if we could just poke our heads Back above 43.20 That would be fantastic Stopped for Trunch 3s at 7.20 Currently trading at 6 bucks I'm gonna put on my 3.6 A little bounce in SPX I just posted my 3.6 Nice little bounce here Got a little over 10 minutes Until the bell Unfortunately Trunch 2 Couldn't survive Trunch 1 and 3 down to 2 bucks Final market on close and balance Is 1.6 billion sell side So we'll jump And the market bounced Trunch 1 and 3 trading down to a buck 20 Down to a buck Bianca added a buck I'm gonna be greedy Trading at 60 cents I may get filled at 30 cents With 5 minutes to go Or I could get stopped out Trading down to 50 cents 45 I'm gonna go ahead and close these at 30 cents If they can fill Down to 40 cents 35 More down move Still trading at 45, 50 cents Little bounce Should take these out 4 minutes to go Should be getting filled Filled at 30 cents on Trunch 1 and 3 Trunch 1 I made 6,650 Trunch 2 I lost 4,560 Trunch 3 I made 5,460 Nice win Nice power hour win Great week for power hour my friends We could have just taken out this little Random Big spike to 20 would have been a Fantastic week overall Alright my friends let's see Looking at the live stream channel For Monday Which is the 16th Yeah so Chad will be streaming live In the morning, Monday and Tuesday I'll be streaming live for 0DTE Wednesday Thursday Chad will be back in the morning On Friday and then We'll be here all week for power hour Alright guys Thanks for spending your last Hour of the day with me Thoroughly enjoyed it Take care, have a good night, have a good weekend Cheers