 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 go, we're here to trade 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-day options, time to make bank Get locked and loaded, then be ready to play Hey everyone, welcome to Power Hour Live, February 27th S&P, almost exactly where we started the day Just slightly higher, Nasdaq, slightly green Russell up 1%, Dow down about a half percent Gold and silver pretty flat Notes and bonds a little bit red Ten-year yield up half percent Oil up one and a half percent Natty gas up almost four percent Soybeans down a little bit Wheat and corn up Euro and the pound flat Bitcoin up another five percent Fifty-eight thousand VIX at 13.54 I've got a good little day going on here so far Here's my 1DTE, it's currently at about 36 percent My profit targets at 45 percent I've got my re-entries Which I haven't done any re-entries Because my original ones from this morning are still on They're getting ready to hit 90 percent And then I've got What else do I have here? I've got my quiet midday tranches One hit 40 percent, another one hit 40 percent Another one hit 40 percent My NDX looks like it's going to settle for max profit I've got two other quiet midday tranches on They're slightly red so they need a little bit of a down move And then my Wuga I got filled at 410 That's on the 70-75s So that is my 0DTE Oh I did have the one discretionary RIC I did take a loss on I was looking, if it got down to the expected move I would have taken it off and got a little profit But it literally missed it by a couple points And then bounced so I just cut it for a first small loss That was a nice day Steve Good day for the good kids Okay so I did my first Wuga here On the Wuga train Yeah so 50 percent So I got filled at 420 so 210 So I would be closing the whole thing All four like both calls both puts Or just yeah the whole iron condor Okay that's what I thought at 210 Okay perfect Thiago expected move so if you go to the option chain I'm not sure what broker you use but In toss it's this number right here So you've got the percentage Which is the implied volatility of that option cycle And then right next to it in parentheses That plus or minus number that's the expected move For the day Okay so I'm not sure If IB has that on the option chain or not So do you Do you close the whole thing at 50 percent Or just part of it Yeah the whole thing Okay Maro nothing to show the expected move Of the option chains You're pretty happy about that Let's see option strat maybe you would have it I'm trying to think here I'd have to look around on that option strat To see if it's on there Here's my NDX trade right smack dab in the middle Yeah good point Maro I mean that's the That's a quick back of the envelope kind of way Let's just take the price of the at the money straddle The expected move for the day is right around there Yeah I don't know man Obviously option omega doesn't have NDX But just doing the same concept with SPX It just did not test well But I don't quite understand why It just seems like From a mathematical probability standpoint It should have a positive expectancy So for me I have my AM iron condor number one Book 20 percent then stopped So minus 220 lunchtime number one Which same thing 20 percent then stopped Sold some longs ended up being plus 50 bucks And I'm out of 20 percent of lunchtime number two Which was about 10 minutes Before my power hour time so And the Wuga Yeah I know power hour for me today Today's just in the you know Pretty much where we started Premiums are super low so I'm not going to do a Normal power hour besides the Wuga So So Dick K or anybody Going back to that the NDX trade so So here I put the price slices Where the expected move was at the beginning of the day For NDX So You can see that the iron condor I mean it covers Call it 90 percent of the expected move Right yes right 60 Once standard deviation move is like 68 percent call it Whatever I mean you can call it six Let's say this should hit 66 percent of the time right So I mean if you do the math So let's just take it Okay so my max profits 9.50 Max loss is 10.50 So Let's say I do 100 trades And 66 percent of the time It hits 9.50 I know this is not Exact but 9.50 Times 66 equals So that'd be 62,700 34 times At the 100 it loses 1,050 So 1,050 Times 34 Equals Minus 35,700 Right so 62,700 positive 35,700 negative So over you know large and over occurrences Seems like it would play out Now there is the in between So it may not be a max win Or max loss There's going to be times where it expires In between But it's only you know an NDX It's only 10 wide so very little chance it's going to Expire right in between there But some will So just like I said from a Probabilistic Number of occurrences over time It should have a positive expectancy I just I I can't figure out why Back testing I can't Gives any kind of value SPX getting close to highs of day Yeah and I'm just doing it small I mean I'm doing two contracts on NDX No stop You know so there also times it will go way Out of range and then come back and settle in So you don't have to worry about getting stopped out So here's my Wuga So Dick K I've got Two of the quiet Tronches left They need to move down Otherwise They could get themselves in a little trouble here Which would wipe out the four winners Three winners My one two double calendar From earlier today is already up 7% Might take off some of that If I get to 10% by the end of the day My six seven from Friday is up about 5% My five seven from Friday is up about three My three four from Monday Is down about 2% Well I hope I'm not bad luck for the Wuga Because I Remembered I The only one I've ever taken was that Time that moved to the downside Like way out of range almost The one time that we took max loss on it Yeah that's the only time I've traded it This is my second time Basically the one time in 12 months that it took a max loss Is the time you traded it Yup and now mine is Now it's pushing up so it's I hope I'm not bad luck The Dr. Chad Curse I mean mine's already way off Way off center Yeah I'm going to need a little down move For basically everything I got on now God forbid we have two SPX That's two red days in a row It's not allowed but we had two red days This would be three Going back to last Friday Yeah Friday Well It closed lower than when it opened I'm not sure if it closed lower than The previous days closed let's see 50, 87, 50 No, didn't Yeah so Technically this would be two in a row If we closed red So my two re-entries here My one to one is trading at a buck 25 And my 90% profit target 95 cents The other one's trading at 260 And that one's at $1.90 So just a little Lower and those should just close out The trade plans but it's also If you scroll up to the end of yesterday I know somebody posted a screenshot of it I'll see if I can find it real quick Here you go fast 5, 7, 31 Oh looks like you got it There's the back test I don't have it on my trade plan sheet Just because I just kind of do it Just more on a discretionary basis But yeah MRP NDX it'll get Wide so that's one reason I don't use stops or anything on that And I'm okay using NDX For this specific trade Because it Yeah let's see I've got Yeah I've got a My order is at 25 cents to close And it's shown as trading at 30 cents So maybe not quite there yet But sometimes it It won't even hit I took half off of my VXX vertical For about 50% of max Give my rut duck another day If it stays here it pushes higher I'll close it out for beak profit Corn finally got a little bounce Here's a question for you So if the Wuga is sitting pretty centered And you hit your 50% You don't scale out at all huh Now I mean it's purely back test based And so that those parameters are Test the best Yeah that's just what you do That's just what the Wuga does Okay so exit by 352 huh If you haven't hit 50% Where is Wuga? Next day trading futures too Best day in a while Oil 3040 ES A little over 1500 And Dow 505 So I Man I Can't complain but I also Missed a big trade in wheat I was trying to get long wheat And I put the order in Remark it and I forgot It's not open yet, you can't trade it yet You gotta wait till 830 Central and then I was planning on it I had it written on a note Right in front of me to enter at the open So I missed that big up move in wheat That probably would have been another Based on the size I would have done Probably somewhere between 1000 and 2000 So a good day Trading really good day trading all around Gotta trade that weed Naughty dog I worked on my futures Day trading price action course A little bit last night Getting close By the way we're doing a live Trade steward session 30 minutes after the close Today I posted in the trade steward channel For anyone interested I'm basically just going to take a Option omega back test And Build a bot from scratch Just to kind of show you how I do it Kind of point out some of the little things and then And then from there we'll just kind of Open it up to questions or Comments or anything Getting closer to my 90% I still need a little down move Yeah Mukesh for sure I'll be recorded I feel like I need to cut one of my Quiet tronches Loose This thing continues to rip It's going to It's not going to feel good I have my NDX and my bot set at 95% So it's setting it a 25% Limit right now but sometimes That'll fill and sometimes it'll Just expire without even filling We get ES90 we could roll Over Or roll higher I also had some puts loaded up I had an order of 20 That's loaded That were priced to get filled The price got down to The expected move And I was about 30 cents away From those getting filled before it ripped So I ended up just canceling that and that's when I Ended up buying some futures for this Up move So I had a really good day and I missed out On some really nice winners too Now pushing highs Right at highs of day which is the first 5 minute candle So maybe I'll get rejected Wouldn't take much of a down move And get me out of 40% of my Last TLC trade I got on No Just a little pullback My orders At 345 and price is currently At 387 so One DTE Is currently at about 35% I need 45% for that one to Take off It's right around time for Trunch 2 Which I'm not doing but It'll be a 75 straddle for low premiums There we go Out of 40% Out of 40% Very nice Closed out my Closed out both my Trades from this morning My 2 re-entries In my challenge portfolio Now if my 1 DTE Can hit 45% That would be a good little bump For my challenge portfolio So my 1 to 1 Booked about 3900 My 3 to 2 Booked 20 Almost 2500 And then my 1 DTE is Currently up 1700 Not sure if that's going to get to 45% or not So for my challenge portfolio Up about over 8000 so far Right 260 is my next 60% Not a dog Steve's got so many portfolios I need a couple other accounts To be honest It's too crowded sometimes I'm not going 10k to a million It's more like It's more like 150k To 152 million That's what I'm going for Yeah I mean I'm not greedy Let's see what Wuga's doing Something pretty good Another one on I forgot I put this Called a Chad like trade on Because I felt like I needed some more on I hit I got a half at 20% In fact I forgot to reduce the stop Now that I Thinking about it You never forget like you have a trade on That needs to be closed by the end of the day And then realize it's on the next day Do you? That before In fact I just did that I think it was last month I had a I had a diagonal on Which is part of a different It's kind of a Part of a time fly In NDX And on Friday at expiration I forgot to close it So I was left with just the longs on Monday Uh huh And luckily the market went up $26,000 winner No way Uh that's awesome It was an accident But could have been really bad If the market Tanked over the weekend Right I mean I make enough Mistakes that go against me I think I'm entitled to One of my favorite ones My 40% is at 3.95% So A little more down move 30 more cents down No 50 cents down I'll hit 60% Because at 35% 2.5% a day It's awesome My midday tranches These two I have left They definitely need a down move Not real optimistic about the downside here I may just cut those loose No Just don't want to push highs You can just stay where it's at I'll cut one of them loose So my 1, 2 DTE Double calendar I'll see what did I get into that for $8.90 Mmm Don't like this price action Oh, that's really pushing That's right turn around Nothing to see up here Nope Naughty dog, booking profits Wooga could go to $5,100 as long as it comes back Before the close I'd just soon hit 50% before it does that Better on the heart I've had too many in February Too many power hours where I've seen A little green bar just ripping upward See what's going on in stock Land today Jumia that Amazon of Africa has been on fire Almost a double in the last month There she goes New highs of day Zoom up 7% after earnings Green bars, man I guess stopped out of here That must have been my I surely would hate to be 0 for 2 in the Woogas That's funny, Dick K I uh How old is your son? I have accounts for both my boys And so I let them pick their own stocks And they uh You know, so of course they pick all the things they like You know, they got Google because they like YouTube They got Apple because they like their iPads They, you know, I just let them do whatever they want And um They've never really Shown like they think trading is so boring They don't, you know, never really show much interest But then one day My oldest gets in the car and he's like Dad, I think I want to be a trader When I get older I'm like, oh really what Like what changed, what's going on? He's like, well And they've had the account We started the account like right at the bottom During COVID And so of course right out of the gate Their accounts took off He's like, well, I was like, what changed? He's like, well, I'm really good at it And I was like, oh, okay Okay, I just I didn't say anything, I just encouraged him He's already lost interest again He's about to hit it all Figured out. All right, let's pull back here 126 million To the buy side Early indication. Good healthy pullback Yeah, they got in a meta At a really good price too That's their biggest winner Here's one of them They have Apple He likes when we stay in Airbnb So he's got Airbnb He's got C3 AI AMC because he likes to watch movies He actually caught that one He caught that one right before the whole GameStop AMC. We wrote it up We sold some of it but still have some Now it's at $4.70 He's got Amazon Coinbase, Google, Robinhood Bitcoin, Bitcoin ETF We just bought that one Meta, Netflix Nintendo I bought some of those Yield Max, NVIDIA And Arc He's got Roblox because he likes to play Roblox Snapchat Tesla And Yum Brands because he likes Pizza Hut The other ones got Apple, Airbnb AI, Coinbase He likes to play fantasy on DraftKings So he's got DraftKings Google, Robinhood, Bitcoin, Meta Netflix, Nike Roblox, Starbucks Tesla, Uber Getting close to 20% We got 42% Yeah 210 is my exit My 1DTE Still sitting around 37% Did it hit it? Did it hit the roll over point decay? Would you say 90? Almost, 88.5 Keep coming Cody, I actually made them employees Of One of my entities And so I pay them And then that money that they earned They Contributed to Roth So You know, I added a little bit But that's how I did it 10 cents away from getting out at 60% TLC and be done there We'll go straight in at 235 I need 205 to Close that one at 50% Yup, I need 210 Built on 60% And out Of my lunchtime number 2 The green day It's the first time in a while I haven't done any power hour trades Did the Wooga instead And my NDX still hasn't filled At 25% Yeah, that's kind of what I was thinking too, Dick K It's filled on Five of nine of my One twos for 10% From the one I just put on this morning I'll leave the other ones on until tomorrow morning I'm on theta Have you ever not been able to close The The Wooga? Have you ever had a problem with it? What's that? Have you ever had a problem trying to close You said you're closing a full iron condor If it gets way out of bounds Then You're just gonna watch the longs If they don't have a bid They're down to 5 cents right now 5 and 10 cents Then you'd have to switch over just to the shorts Gotcha 126 million to the buy side still I'm on I need about 7 cents Yeah, Woogoo's getting close Was getting close I'm gonna go ahead and close out my last re-entry here And I think I'm gonna close out my last quiet tranche also Just Not feeling a down move into the close No Need a nickel and the Woogoo's closed Alright My Woogoo's almost there I got filled at 210 Looking for 205 didn't hit it Get back down here Vick's trying to spike up A little over 15 minutes ago I knew this was gonna happen I thought you got hit on the Woogoo Or you got hit on someone else No, but I just I know you guys are Wanting it to pull back I was really hoping it would hit for you guys Still might I like the team player out of you Chad You know I'm out of everything Still 126 million to the buy side Final MOC in 5 minutes Dow came down a little bit After trying to push up there Dow coming down now A little over 4k for me with the Woogoo and TLC trades How many contracts did you do on the Woogoo? I did 10 You went in Guns of Blazing on the Woogoo for the Second time A little pullback here Dow's coming down A little pullback for everyone Doesn't look like it wants to come down Russell pushing I was knocking on my 205 order just didn't quite Push through I had at 210 So you had to be close Nickel Didn't get filled Really? You had definitely a game of inches Is this normal? Is that pretty normal for it? Or no? The Dow came down Whether it's centered or not Right I thought it was coming Market on close number here in about 20 seconds 1.4 billion to the buy side We'll go back to even Crazy just how it gets It gets over there and tests on one side It can be a game of inches Keep coming down buddy Back up to 30-40% Just like that Just like that It'll close out Here in a few seconds 352 Let's scratch that a little profit on the 7 minutes to go Make sure I don't have anything else on here I still got my NDX It's not filled at 25 cents Vix really spiking I still got my 1DTE On that it'll close here shortly It's at 35% so it doesn't look like it'll hit It's 45% but it'll get Closed for profit here in 2 minutes I'm gonna go ahead and close it actually Yeah Vix really coming up I closed my 1DTE For about 35% Nice rookie trader Nice job Meet up 6.3% today Or on the Wuga GX heading up to 50.79 5 minutes to go It shows up 4.4% today Nice job Thanks Fiche I'll check that out Because of the way that Trade Steward had the Vix Versus How we manually look at it Or how Toss looks at it None of those fired for me So I had to manually fire my 1DTE And my re-entry Good thing I Did that because it ended up being a good Good profit 3.5 minutes to go I feel like the S&P is gonna make one more push Yeah there it goes I'll show you guys Something I've been doing here Well end of day Strategy I've been doing So I've been End of day I've been selling a butterfly Right at the money 5 wide If I can get 2 bucks Or better So I got filled at 205 today And then I'm immediately putting in An order for vertical spreads On either side And so Like what I did today Is I sold the 50.75 Put butterfly and then When it pushed up I just got Filled at a buck on the vertical So I've locked in a profit Of 1,050 And then if price comes Back down below 50.75 Before the close I could Book even more here So really if Basically the idea is if you can get In the last 10-15 minutes After you enter your short fly If you can get a move of $5 One strike Most likely you're gonna get filled On that vertical locking a profit Of a lotto to the other side So if the market were to drop here If it were to drop to 70 I'd make a little over 6,000 Which obviously not very likely But I have a little over $1,000 profit locked in 20 seconds to go Looks like around 50-80 Yeah, Suresh, I plan to Just do a little demo of trade Steward and Basically take an option omega And just kind of start from scratch And build a bot And then just kind of go through some of the details around it There is the bell 50-78 .23 I'll be talking more about this I've been just I've been trading it every day for about the last Several weeks trying to Iron out how I want to do it But I'll talk more about it Alright all Let's see tomorrow's live stream Tomorrow is the 28th Wednesday Chat will be streaming live in the morning for the mighty 90 and runners And then we'll be back for power hour And then if you want to Join the trade steward session Here in about 30 minutes The link is in the trade steward channel Alright all, take care, have a good night