 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 Ay, ay, let's go We follow the plan, 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 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 plank What's up everyone, welcome to Power Hour Live Wednesday, April 10th Post CPI Post FOMC minutes A little bit of a wild ride, but fairly Let's see, we had a high after the open of 78, low of 38, so 40 point range Not too shabby, Vicks almost still up 16 Just under 16, S&P down 55 NASDAQ down 175 Russell down 63 Dow down almost 500 Gold, red, silver, green Notes and bonds lower, tenure yield up 4 and a quarter up at 4.54 Oil up 1%, natural gas up a little bit, grains mixed Euro in the pound down a percent, US dollar strong Bitcoin slightly green Let's see, what have I done so far today In one account, got stopped out of my 9.45 ratio My O2 call calendar was a nice win My RUT hedge is going to be a nice win My 1DTE is up 17% in this account My NDX is nice and centered Did a re-entry 1 to 1 in this account Up about 1900, and then the RUT hedge I put on today is down a little bit Up about 5K in that account In my challenge portfolio, also up around 5K I just closed out my 1 to 1 From this morning it hit 85% So closed that out My 3.2 reduced stop and position size And then got stopped out for a profit Then had a full stop on a 3.2 My 1DTE up 17% My current 3.2 that I'm in, reduced size It's up about 2200 And then that 1 to 1 that got hit My 85% profit target just re-entered Right before the deadline So I'm in a new one there I did have another price action trade That hit 2040.60 And then I did have another Non-bought trade that I tried to do Sell some puts Maybe started making that big push here Pulled back, tried to do some puts Got smoked out of those That's it for me Alright For me Let's see Just had an AM number 1 that I booked 20% and then I closed it out Before that speaker was starting So plus 690 And then I don't know if you heard about my mistake I did not I put on a lunchtime Number 1 at 1.10 So about 50 minutes ago And I was trying to watch something on TV I was placing the trade and I accidentally did 20 contracts instead of 10 And it hit profit target I hit 20 and 40% Nice And then I have a power hour number 1 That is currently on And I'm waiting for that too Today is a neutral day But I am going to do power hour Nice juicy premiums I'm just going to do small size Did you do your NDX today? I did do NDX Yep, it's nice and centered Yeah, damn, I didn't do it I was going to ask you So my Trunch 1 normal day Will start to fire at 56, so hearing about 90 seconds $4 strikes will be the $540, so 25 wide Put on a 1, 2 DTE double calendar And already took it off for over 10% Same day Usually I'll leave some on I'll take some off at 10% But just decided to take it all off with We do have PPI tomorrow morning So the fund is not over kids Oh no PPI pre-market tomorrow And 1, 2, 3 more Fed speakers And a 30 year bond auction No secha, it's a neutral day Because the market's not Up or down more than a half percent From the open So it's not an up day, it's not a down day It's a neutral day, or normal day I guess secha is what I call it It's based on where we open Not yesterday's close obviously Sorry Chad, I don't know if I cut you off I was just I was doing my normal day Power hour Filled on Trunch 1 35.60's, filled at 7.60 Russell down 3.25% Most at max profit for My rut hedge from yesterday Definitely the weakest of the bunch today So I'll close that rut If it gets to My profit target's at 59.85 It's currently trading at 58 SPX getting a little downside Action coming Which is not good for the 1 to 1 I just put on Yeah, so here's my NDX It's sitting pretty Yeah, I was going to Message you this morning and see if you're Still going to do that with the Yeah, that's an everyday trade from me No matter what Regardless of numbers coming out or anything Except FOMC because You won't get any decay in the morning Right Makes sense My 1DTE's were up about 20% Plus Maybe 25% and then all of a sudden Really pumped the premium into the 1DTE options for whatever reason I mean did On the zero days too but Decent amount because my 1DTE Was centered But Went from up about 20% to Up about 8% Within about 10 or 15 minutes Pretty similar spot to where it is now Now I got stopped out of my power Hour number one I didn't even notice that So here's my trunch one 60s and 35s I just did a 3 lot I'm just doing $1,200 Of risk for each trunch So pretty small and I just got Filled on my 1 to 1 In my other account at a buck 50, 85% That one will not re-enter Because it's too late Yeah, so trunch one I'm going to do 3 lot Trunch 2, 4 and trunch 3, 2 3, 3, 4, 2 Not about doing more premiums nice and juicy But a little wacky today A little wacky price action Yeah prices are juicy But still Juicy for a reason Yeah Still got a About a 14 Point Expected move left Yeah and in the last 15 minutes About 14 points 15 minutes, you know So my less time number one is still on My power hour in the morning got stopped Hadn't really looked at stocks today Biggest green stock is Coinbase Baba and Vidya hire Lot of red Rocket Being the most red on my board RH down 10% Tesla down 4 Roku down 4 And Roku just never recovered After that last earnings announcement Did it AMD down almost 4 Vidya bucking the trend Bitcoin was down but it's a little bit green now Energy slightly greened Every other sector red Real estate down 4.5% Regional banks down 5.5% Big drop in KRE Pulling the Russell down Ethylene need a little bounce Portfolio one to one That just went on right before we jumped on We go down too much further That one's gonna be a full Excuse me full stop I just appreciate no more No new lows until After PPI tomorrow Yeah for sure Then it can do whatever it wants Yeah if anybody didn't see And the zero DTE channel Davis Had posted a kind of an alternative To the to my reentry It's um So I played around with that A bunch today And um Anyway my conclusion Was I decided to Change it enter a profit target On those at 85% kept the draw Down And the win rate everything About the same except it increased the Mar and the Overall P&L So and it So it'll It's not gonna hit That often but Like it just did hit my one to one About 10 minutes before we jumped on here So it'll end up taking a Few more trades A little bit better metrics For the back test Trunch one's up 20% Well that's the test that Davis Was showing Elliott is A 50% exit But It did increase the P&L overall But it also increased the drawdown by Quite a bit and lowered the Mar So for this strategy specifically I'd prefer the Higher Mar lower Lower drawdown So I'm keeping it Take half off 30% And then I'll have an 85% profit target on the rest Just my preference Yeah exactly Which I thought I had tested That when I initially did it But it's not a huge improvement By any means but it adds A handful of more trades And increases The overall profit over time There's a nice little bounce Sharing strikes this is My 3-2 and my One to one and my challenge Account That one to be centered needs about 51-57 My 85% profit target On the 3-2 is at 285 that one's currently trading It's a little over 6 Need some more decay on that one One DTE still hanging around About 22% Ah there's 60% of my lunchtime Number 1 Hour hour Trunch 2 will come in At 90 seconds Looks like that might be The same calls 51-60 calls And maybe the same strikes as Trunch 1 Yeah I just entered power hour number 2 On the 51-60 and 51-35 I'll have to I was thinking about that today Elliott I gotta go back and It seems like I remember Even when volatility is higher That neutral days still Perform that great But I could be wrong on that Was it 16 tomorrow I gotta I gotta figure that out Cause we are there Yeah we didn't have that up down or neutral then But Seems like whenever I Started doing that It seemed like I did the testing I thought I Remembered kinda coming to the conclusion That neutral days just aren't great Regardless Trunch 2 Fired 40s and 65s 51-40 puts 51-65 calls filled at 545 Yeah I agree I think Yeah I don't know I gotta go back and dig into that a little bit Specific to neutral days Well If this thing keeps going up that Trunch 2 I just got in is gonna get stopped Yep stopped 5 minutes left to put it in About 50 cents away That's bummer Need rut to stay below 20-20 SPX you need to stay below 60 Yeah I thought the Wide power hours Would be good but they have not been The other thing about High implied volatility obviously It's on the way up You know VIX 16 VIX 18 VIX 20 Sometimes isn't that much fun But VIX 18 On the way down From 20 Really good VIX 16 on the way down from 20 Really good Sometimes on the way up it can be a little dicey I was considering sitting out power hour But Sorry when you get 30 wide If we could just get that little You know they could bring the bell for us I got my VXX trade on It's barely gone against me at this point VXX actually Has come off its highs quite a bit We get another flush lower In stocks after PPI tomorrow I'll definitely be jumping in some more VXX Let's see I have Yeah I was looking at that earlier In the short term ones almost at 100 But yeah the 252 Day one Hasn't seen this area after a long time Well Since October Yeah and 8 trading days I have 5 full Stops during power hour In April Yeah except above 62 63 Stopped on Trunch 1 and 2 No not 1 Just 2 So I still have Trunch 1 Their fill was my 3-2 Getting stopped for profit In my challenge account Still have my 1-1 DTE's up about 17% Power hour Trunch 3 Will be coming in In about 2 minutes And I do that 2-1 puts to calls Oh good thing Kinda got saved by my accident In terms of the red day Now it's not going to be a green day But it will be a small red day Because of it Minus $1475 Today Had a minus 2900 power hour And a minus 3600 power hour Otherwise It would have been a set out power hour It would have been a really green day Power hour is still your best overall though It has been In all my months Pretty sure except for April And power hour on Last month's CPI day was really good 2 big winners Went back and looked at it Getting a nice wide Trunch 3 Coming in on the 80s And 45s 80s 45s Filled at 560 Trunch 1 is only a dollar away from stop out If this thing keeps ripping I'm hot today probably Stopped on Trunch 1 Trunch 3 left in this account And indiacs and rut End of day butterflies Now we're close to being tradable 65 strikes trading for 70 cents maybe Okay interesting moral I'll dig into that as well Need rut back down It's getting a little bouncy The remaining 1 to 1 reentry Is at Filled in 2 different Fills so one's at 24% 21 so We can just hold here For a few minutes could get to that 30% 1 DTE's Up 25% Use a little more downside as well Let's see what else we got here I sold some premium at MES today 100 days out Closed another MES Got 2 MES strangles Still short premium and gold Hedgehogs are rocking This one has 9 DTE So Consider taking this one off Friday Alright now freeze Freeze SPX Yeah you think at some point It wouldn't you know it's not going to move 15 points in 10 minutes Alright got 30% So just reduced Position size and reduced Stop on my reentry Somewhere between 50% And 65 Will work for that one That's pretty good range You'd think Yeah you'd think My 1 DTE up 26% My Tromp 3's currently at about break even And it just feels like it wants to go back down the lows but Hope it just freezes right there Are you still in anything? Nope I am out of everything 2 power hour losses was enough for me I'll check again I thought I looked at 90 But I'll double check that I looked at that at one point Tomorrow and for whatever reason decided not to do it But There's a whole crew of people Who do that The mech Multiple entry iron condor peeps Definitely works with TAT That's what TAT was built for My rut trade Still a couple bucks away from my profit target 20 minutes till the bell 10 minutes till MOC I'll be back in just a minute Just love Quiet price movement One of these power hours One of these days we'll get it It's very easy to revenge trade When you have 30 wide strikes in power hour Very easy We'll bounce here Can it not rip through Through that consolidation area Can stay put And a lot of risk in this rut If it bounces for another $200 Yeah, just take it off Might just close her out I mean, I can see this just ripping up Alright, out of rut Rut rut Trunch three, oh Gotta reduce my stop on trunch three Did you get some back from this bounce? What's that? You get your book profits on this bounce? Well, I don't take profits But yeah, I'm over 40% Which is whenever I reduce my stop So I gotta remember what I do here Power hour There's this 10 point movement This last five minutes Oh, I guess I don't reduce my stop on trunch three It's just a $6 fixed Write it to the bell I got a feeling this next bar is gonna be To behold Hold on for a big next bar, huh? I mean You wouldn't think so But it would not surprise me I just got a lot of Nightmares of little green bars pushing up Just need to stay below 65 NDX needs to stay below 18 090 MOC number in three minutes Yeah, right back down there to 63 I like that Yeah Just couldn't quite push through there A little juice in these premiums for 10 minutes to go MOC in 20 seconds Listening for MOC 240 million sell side Nothing I like a nothing number today Let's see if any premiums start to come out now My 1DTE will come off at 56 after I believe Yeah, 56 Currently up 25% Definitely going for the pin on Trunch3 What's your pin? 5160? No, I've got on that one, I've got between 45 and 80 So should be good Oh yeah Should Key word there It's coming back up Not really worried about that one, I'm more Interested in This one here where 65 I wanted to go above 65 This one to one got filled in two different Two different deals So my 85% profit Targets on one of them is a buck 25 And that's trading at $1.80 The other one's at $1.50 And that's trading at 3 bucks If we hold here, if Yeah 5% gain in the Challenge portfolio, so just Three more days like today to make up for Yesterday Really holding on to premiums Not giving it up There we go One piece of my One to one's about to come off Maybe A few more cents No, get back down there There we go Two of them hit, so Got three contracts left on my one to one Trading at 260 Profit targeted at $1.50 My one DTE coming off One minute, stable is 65 Keeps bumping it Keeps getting rejected It's been rejected four times here Let's keep it that way Oh yeah There you go I think you're safe now One DTE filled at 9.65 So how'd that one do today? Right about 20% Look at it Last piece of this one to one ratio Is at 25, I need a $1.50 Yeah, it seemed like the decay Was coming out nicely until I was like, I think it was this little Drop here right around noon Right after noon central Or Right around noon central So I could just pump it back in You didn't get stopped out of your trunch one, Landau? I got stopped out of one And two There it goes Is it gonna get rejected again? I mean, stay below It's a minute left I just gotta close it out Let's close that one out So my last remaining Filled at 230 My last remaining trunch 3 Full profit Nice little tiny size, two lots But it's a pin Alright, so my challenge portfolio Up a little over 10K That's good, got a little back from yesterday Minute to go I am off to pick up the boys I'll see everybody tomorrow Alrighty, take care Peace Tomorrow's live stream is Let's see, tomorrow is Tomorrow the 11th So Chad in the morning for mighty 90 And runners and then we'll be back for power hour 20 seconds to go Nice, Landau Closing print for SPX 51 60 0.51 Alright Take care, have a good night See you tomorrow