 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 We're not here to gamble, 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 plank What's up everyone, welcome to Power Hour Live On a Wednesday, August 30th Almost the end of August Hopefully Power Hour can take us home The last couple days It's been a good day for Zero DTE overall Hit both profit targets on the AM Hit all three profit targets on the Dick K Special I've got a PM Iron Condor on currently That is getting close to hitting 40% It's currently trading at 14, I need a couple bucks It's trading at 14.65, I need it down to 12.75 Getting closer Need to buy some longs for Tronch 1 We've also got our buddy Rick on He's been kind of dancing around the break even In the valley all day And currently down a little bit A few more points to get up to the break even So we can still have a successful Rick And a successful Power Hour And it looks like we're going to get a straddle Right now it would be the 45-15 straddle A little bit of a light crowd today Everybody's scared off from Power Hour Get a little draw down and everybody's scared away Yeah, pretty quiet day overall Let's see, I forgot to mark my expected move We opened at about 4500 About 21 So it looked like it tested the expected move Yeah, bounced off the upper expected move a couple of times Alright, so it looks like the 45-15 straddle For Tronch 1 20 seconds or so 45-15 straddle, trying to get in at 770 Filled at 765 for Tronch 1 Our old friend the straddle Not your friend Kelvin 3 in a row for Tronch 1, huh? Didn't realize that Let's make it 4 Just a little more decay on my PM Mauro, you already hit 40%, huh? I had the 5-point wide strikes Must have been wider, huh? I had 45-05, 45-20 So you're 15 wide Were you doing $3 credits? My Wednesdays for 4 So I was only 5 wide Yeah, I was just curious Why you were 15, 3 Got it OG P2H There's been a few songs about Tim Weiss posted today in the 0DTE channel Okay, I haven't caught those They're good Vegas Michelle started it all So she's the one to blame Crane, Crane's was He put some effort into that one That was good Alright, so we've got a While we're waiting for Tronch 2 We've got a We've got a time fly Then I'm most likely going to close here By end of day, unless we get a little down move We're kind of in the same situation as the one We closed that yesterday We're beyond the We're beyond the call strike of the Of the adjusted call calendar I don't really want to add another one Reposition it We're not really getting much profit in that As of right now A couple, two, 300 bucks So we're down about 15% So I just don't want to risk A bigger loss I mean this market just feels strong Going into a holiday weekend Just don't want to fight it So I'll probably just close it Take about a 15% loss Unless we get a little down move If we push back down to the Around the call strike Around 4500 by chance By end of day I'll keep it on But otherwise I'm going to close her out Closed out a nice quick CL short strangle For a quick 30% of max profit Our gold reverse hedgehogs doing nice MES Our short strangle It's close to 50% On the puts Got in at 34 Those are currently trading at 18 and a half So not quite to 50% ZS I checked this earlier I don't think we're quite to profit target yet Double check again Oh it's closed Can't do it Alright 40% hit On the PM Iron condor Nice QQQ You could take that off Early for beak profit If you want I'm going to hold it Just in case we do get a little Quick reversal Rut It's getting to the point Where we could take that one off too Very little chance Of getting back to the duck head See if we can get Beak profit on that Wow Did Not a rut Got to post that in the Iron duck channel I tried earlier and it was not Not hitting so That's good Alright just posted that In the duck channel Got another SPX duck In the set 14 Looks like it may fill too Where it wasn't earlier Let me try that one Just skin some ducks here In power hour While we're waiting Yeah no that's still trading at 510 I'd want to get out at 5 bucks or less Alright let me just try Tried this morning on all these Looks like it's trading at 505, 510 So I will cancel that Looks like I'm sharing strikes On my PM iron condor So I'm going to move that over A little push up in SPX So my trunch one I got in at 765 So if we get down to 460 I'll reduce my stop on trunch one But with a straddle It's going to be a little bit Take a little bit longer Did a B&B earlier It's already up a couple hundred bucks We were to get up to 880 That would be 10% It's currently trading about 830 So it doesn't look like it will But possible Put on a new TGIF today Well this little push is helping our buddy Rick Rick is now profitable I got my 30% at 1660 It's currently trading at 1330 Alright still got about 6 minutes before trunch 2 Marthinus popping off 40% On P2H nice Wow already calling for the magnet Oh never mind That was for the two P2H Got it I thought the power hour magnet Was already coming out I was going to say it's a little early for that My friends Vix down three and a quarter down below 14 Mmmmm So it had such high hopes In the 17s and 18s And almost 19 It's gotten crushed Crushed crushed Vix in the 12th handle is just not that fun Alright a few minutes until trunch 2 I'm going to buy my longs for trunch 2 Longs are locked Enter the closest to 3 bucks on each side We're going to have a 5 point straddle 5 point strangle 20s and 15s maybe A low premium 5 point strangle Price pushes up We're going to have a straddle Give it a couple minutes See where it settles out Alright what do you got here Dick K Whenever the Vix closes below the BB What's the BB Of the Bollinger Bollinger Band Got it Vix closes below the Bollinger Band Daily chart usually see a down day The following day I've found it very reliable Yeah no credit Zero Nope not buying it I'll bet you I mean it's a 50-50 wager What do you got Name your price Looks like it might be the 2015 Another 30 seconds or so I'm going to get in trunch 2 Then we'll settle this bet Dick K We're going to do a low premium 5 point Strangle Trying to get filled at 405 Filled at 405 for trunch 2 Yep 50-50 bet Yeah exactly Morrow I'm ignoring the Bollinger Bands Because that's what I do I ignore stuff that doesn't work I ignore stuff that gives you a 50-50 probability What are my odds Dick K And what's the wager Done What's the bet How about this What's Florida known for Seafood So here's a bet I'll send you Kansas City Barbecue I think it's Jackstack Barbecue does They do shipping They deliver I'll send you Kansas City Barbecue if I lose And you find some kind of Florida Hurricane to send me If you lose I like seafood I like any kind of seafood Alright so just to be clear We're talking about the SPX The SPX has to close Lower than it closes today Is that your Dick K it's on Me versus the Bollinger Bands Let's go Yep if SPX We'll stay on here until the end We'll get the final print of SPX At the end of today And if SPX tomorrow At the end of power hour Closes lower Dick K wins I mean I hope he's right To be honest I hope he's right Because I need some red But I'm pretty confident in my bet Regardless of the outcome No hedge I'm hedge-less I mean it's basically a win-win for me If I get red I'm probably going to make some money on my positions So it's going to pay for that barbecue to send you Yeah I think it's sent I actually did this With a buddy of mine in Boston When the Chiefs and the Patriots were playing each other And then AFC Championship And he lost one year And he had to send me crab cakes from Boston And I lost one year And I had to send him barbecue I think it's like dry ice or something I don't know he said it was good There you go Dick K Find your Find your Morsels of choice But wait till tomorrow Because you don't want to get ahead of yourself I'm going to get a little pullback And SPX We're going to get ready for Trunch number three Man look how close these five cents are Trunch three here in a couple of minutes Looks like it might be Another five point wide 15-10 You still have some DKS open A 45-15 45-10 Strangle would Round out my little profit bubble here Looks like it might be 45-20 45-15 Getting a little bounce Actually it might be a 15 Strattle 2015's Give it another minute 2015's it is 365 Built at 370 Built at 370 for Trunch three 45-20 calls 45-15 puts 45-15 is the sweet spot 45-15 is the sweet spot Still got half my PM on 80% 25 it's still trading at 9 bucks Trunch one I'm looking for 460 Currently trading at 580 I'll get that price plotted on my chart So Trunch one was 15's There we go I'm looking for 460 on Trunch one to reduce stop Currently trading at 570 DK if I win are you going to stop using Bullinger bands? Can that be part of it? Yeah that's the point of the bet Chris You driving? Just pop in on your private debt I like it Timmy W just posted plus 1.95% on the day nice What would have to happen for you to stop using Fibonacci's What Is there anything that could happen that would make you stop using Fibonacci's That's great Good good good What about techs? I'd love to take it all away from you for a year I think you'd do better That's true I think the machine would be even more well oiled A few points out of the profits It needs a little push up after we get out I am however going to close the time fly Alright now we need a little bounce Just a little one Maro you can hold your time fly based on the Bullinger bands Bullinger bands course that's coming soon to a theater near you but it's a fictional movie just so we're clear Tranch 1 down to 5.25 I'm still looking for 4.60 I better pay attention to that Tomorrow morning Beyond the AM live stream the debut of the morning jingle is coming your way Tranch 1 lowering my stop to 7.60 So are we expecting a big sell off tomorrow or just a little one Just a down day Elegant Scorpio that's not how I trade that strategy but you're welcome to do as you please Tranch 1 4.90 looking for 4.60 So Dick K are you short some S&P futures then Tranch 1 still hovering around 4.85 I need about 40 more cents 4.90 There's a 4.85 SPX catching a little bid 4.80 4.75 4.70 Not quite there yet needed to bounce back up another point or just sit around about 20 minutes till the bell just watching Tranch 1 here still trading about 4.80 I need it down to 4.60 to reduce my stop 4.80 4.65 and I saw 4.60 print reducing my stop down to 7.60 on Tranch 1 Alright anybody else want to make a bet I like action I need action It's a good bet Booga I'll take that too I'm on that with you So just to be clear the Bullinger band is that purple thing right That's a lock lock of the century I feel good about my bet Hey Landon can you make sure Dick K has my address Alright let's just get a little bounce here a couple point bounce into the close got about 10 minutes till I exit by the way I was doing some more power hour testing today and I think I'm sticking with the stick the fix stops I mean even even over this you know from even over this last month from like June through today fix stops they still they still do better so I'm going to stick it out with those getting a little bounce 80% on my PM is at 4.25 that one's still trading at 7.30 So I got a little ways to go for 80% on my PM iron condor still so tomorrow is the 31st so probably tomorrow maybe Friday Krish if I can get it together by tomorrow it's that new job Meach that new job is killing you you need to do something about that distracting you actually I don't think Meach is on the zoom so we can say whatever we want about him a little over 10 minutes I'm getting close orders at 4.25 trading at 4.00 well I'll just jump up a little drop trading at 4.90 getting close there we go AM ratio is gone 80% alright almost time to bail here a few more minutes one I'm going to put at two bucks I need a bounce I'm going to want a little bounce into the next couple minutes it's trying it's not trying almost time to exit a little at 4.10 on tranche 1 360 on tranche 2 and something on tranche 3 alright so tranche 1 getting a nice bounce now tranche 1 got in at 7.65 out at 4.10 nice winner tranche 2 in at 4.05 out at 3.60 tranche 2 tranche 3 in at 3.70 out at 3.60 and 3.35 small winner decent little winner alright now we need rick to rip big rip at a rick I need 45.18 to give him the green on rick 5 point bounce continuation on that little bounce still got a few minutes yeah great day overall winner on the AMC AMIC winner on the DKS winner on the PM iron condor winner in power hour only loser for zero DTE is rick and it's not over never count rick out he still might have something for us two and a half minutes back up near 45.13 there you go get on up anyone is still in the power hour tranches should be coming in real nicely talking to you Elliott he's silent so that means I think he is he's busy working his orders and tasty works right now 40 seconds right back up to that sweet 45.15 area of 45.16 look at rick I better get my rick rick meme ready just in case 45.15 on the nose look at that all power hours would have been a there he is nice got a lot of contracts there too Elliott very nice that might be bigger than yesterday all right dick K 45.15 is the number all right my friends will be streaming live in the morning for the open with the new morning jingle and we'll be back for power hour tomorrow have a great night take care chat with you soon