 What is up everyone? Happy Friday It's Friday October 27th 2023 and we got a little bit of a bounce today after Red Day yesterday the Amazon and Intel leading the Nasdaq here with Amazon up after earnings and Intel up after earnings so we'll see if we Catch a little bounce back today the struggles struggles martin had yesterday especially the Nasdaq it was They got really hurt yesterday Intel up over six percent Amazon up five and a half percent Tesla up about two and a half percent met up two percent today is Friday, so We will use the seven DTE for the mighty 90 and runner strategies So not using the zero DTE. So if you're trading the runners and mighty 90 like I am make sure you've got The correct option chain open up You can't change you can't trade the zero DTE, but it's just moves really fast and You can be affected by theta decay pretty quickly. There is the bell So we're off and running Yesterday I had two winning zero DTE iron condors So I kind of been playing with The time is when I put them on I put them on Put them on sometimes right the first five minutes the market opens and then there's times where I'm waiting till about nine o'clock Central or about 15 20 minutes after the market is open and I've found that so far it appears the Given it 15 20 minutes I get stopped out less So morning mumblebee yesterday yesterday afternoon, huh? Yeah, I haven't done any of the afternoon stuff yet. I'm just focused on the morning stuff But yesterday and I've been keeping track kind of with my I have a I'll show you here I have a trade tracker here So yesterday just highlight yesterday But not that Yes, let me show you yesterday. Well, although yesterday they were both winners, but Do this again here these were the two from yesterday they were both winners, but So 836 so that'd be after six minutes after market open and then 9-11. So that's you know, that's 25 minutes after market open. They're both winners, but I Was able to shed three of my four contracts In the second one I I do get a bigger credit if I do it right out of the gates but So in my notes here, I'm putting like the time that I'm getting in just kind of keeping track of track of it Well, I mean, I've only been doing that for a week. So no, I think scientific yet or anything the VIX is down two and a half percent so it's Friday, so Just try to get a couple trades in on a Friday and It's not my favorite day to trade. So sometimes you can get a lot of chop on a Friday That was down 49 Nasdaq up 150 S&P up 15 Just go to the just go to the live stream and click the link Morning rookie trader the link is under the live stream channel in our second bar here, so We looking for some volume coming in here Sometimes volume is a little low on a Friday as well. Don't always get those volume runners right out of the gates That's a little pushing up a little bit Yeah, it's about halfway there. I don't think it's gonna get there though again using the seven DTE so Make sure you're on the seven DTE They're B&B coming down a little bit of volume Flipping back and forth from red to green Maybe he's coming down. I just don't think anything's gonna get there Got about 15 seconds left. So Nothing nothing nothing getting there. I've got a few iron ducks I've got they're right in the middle of the duck head or in the duck head use a little bounce today from some of them so they don't get too close to the exit Nothing nothing from the start here Again Friday's usually little less trading on Fridays. It's trying to get maybe a couple in then get out Intel pushing up Up over 10% now Amazon up over six So checks check for some mighty 90s here Like to maybe see some mighty mighty 90 longs was a Nasdaq strong Boeing pushing through highs of day Not looking too promising right now Meta pushing through highs of day though Good pushing through lows of day. So we got good coming down Meta and Amazon pushing up Vidya coming down the lows so a little Two-sided action here Vicks coming up to highs of day though. They're B&B Hmm if this bar gets as big as the first it's a downside volume runner It wouldn't be a mighty 90. Let me check Check on toss That's weird toss has first bar is a green bar, but it's obviously not green Yeah, I did it's almost as big as the first so I Wouldn't trade that I mean it is a little bit bigger than the previous one, but it's pretty close And it's as big as the first so I Would Definitely treat that as a downside volume runner and see what bid ask is here It's not too bad Yes, Boeing be more of a mighty 90 than air B&B But it's pulled back a little bit But yes, that's definitely a better better looking mighty 90 We'll see if it pushes back up It pushes back up and gets through highs then I can get short Everything else is just stair stepping down in volume Just pretty typical for Friday Coinbase that bars about as big as the first so I would play that as a downside volume runner But it's bouncing a little bit here be low risk Try some coin base downside volume runner the 75 puts They get filled at 525 Build at 525 and so if it pushes up very much now Just bail on it and be a small losing trade and I'll put an order in at 575 to close half of coin base Boeing has it at Boeing came down so scratch that Good staying weak So not really sure where its direction this market wants to go right now Amazon's staying strong Microsoft pushing highs of day Get a better feel than me and coin base probably so if it pushes above right there, I would I would bail on it Yeah, Airbnb would have been a good one to jump in a downside volume runner as well. I probably should have Got in on that one. It was it was bouncing towards the end of it. That's some pee coming down As that coming down broke you through lows Microsoft getting the mighty 90 short. So let's got some volume pop there. Take a look at that 7 DTE 332.5 puts Build at 495 so if it pushes up I can add to it or if it comes down I'll just get out of it. I would get out of half my Microsoft at 550 so looking for two red bars out of Microsoft Before it comes back up when base pushing back up. It was Thought I was gonna get filled. I was real close to getting filled on half and now I may be bailing on it Fridays, I definitely like the mighty 90 better than the runner because you just got that really strict rule, you know two bars and Two consecutive bars in the direction. You want, you know, you wanting to go And volume runner it has a strict it has a strict rule too, but You know, there's some comfort in that mighty 90 So definitely getting some chop already. You can see Boeing is trying to get to two red bars So it would have been a Probably would have been a winner on that mighty 90 Meta looks like it might be setting up for an upside continuation. It's got push up a little pullback still pretty early for Upside continuation though build at 550 to get out of half of Microsoft Nice push down there. So coin base what it's doing We get out of another coin base at six bucks many good signals here today And coin base to push through lows So Microsoft has given me one red bar So it's kind of hoping to give me one more before it Starts to take off. I mean the NASDAQ is strong. So Really seeing anything. I'm depot staying weak. That was down 87 NASDAQ up 130 and SNP up for 4.6 and Microsoft popping back up. Let's see it get pushed back down, please Then you can go up all you want Microsoft if you give me one more red bar Nvidia already in chop mode Roku and already in chop mode And Microsoft just popped right back up. It's definitely not what I wanted to see Well, it's quite the push Vicks really coming down. I'm gonna go ahead and jump out of my Microsoft I know I haven't not waiting for two bars, but Vicks really coming down now Filled at 480 close Microsoft Don't like that price action at all You could definitely hold it and still wait for two red bars and you know, who knows It may it may reverse on this next five minute bar, but with the Vicks falling like it is you know NASDAQ is strong up a 1% not gonna She had a quick trigger today and it blasted through highs like it was nothing Yep trader Jim kind of feels like a typical Friday Another thing about Microsoft is I just decided hey, I'm gonna just go ahead and take a small winner on this trade it just Strong market really nice push some stocks coming down. I mean, it's just hard and hard Sometimes it can be hard to get you know feel for what market wants to do We could get coin based to push through lows that would really help I mean keep an eye on Boeing for potential upside continuation. It's pushed up and now it's it's kind of consolidating So I want to see how far down it goes here below this consolidation level. Yeah, looks like it might be falling here So now the Vicks just popped right back up. So that's some weird weird price action going on here I got a feeling Boeing is gonna stay strong though I'm feeling it's dipping its toe down below this consolidation and it just popped right back up So I'm gonna look at a continuation to the upside and Boeing a 180 calls Fill it 405 so I've seen this happen a lot where It dips down below it and then it pops back up now if it doesn't want to pop back up. I'll just You know a quick exit actually a lot of stocks here now coming right back down S&P just went red. So it looks like this might be a little bit of a flush starting here I'm gonna I'm gonna give it just a little more time here. See if this Boeing bounces back up And if it doesn't finish strong, then I'll cut it for a small losing trade You see how emu emu kind of dipped its toe down below This little consolidation level popped right back up. I'm wondering if Boeing's gonna do that And if it doesn't I'll just cut it doesn't look like it wants to Might be getting weak here So we're halfway through the bar. So this is this will be the key here in the last Half of this five minutes will it pop right back up. That's what I want to see Yeah, it did have a bar big bar now. It's got a big red bar. So it's giving two different signals there That's the P popped back green So you can see like roadblocks And Boeing so far is doing what I want to see it do on this lot the last half in the back end of the five minute bar I could have got a little bit better fill. That's the only thing Apple pushed up to highs Roku getting a mighty 90 long, but it's already bounced up It definitely has a very tight range. Okay, so Boeing I'm gonna keep it I'm gonna hold it now because see how it popped back up. So it had this push up little consolidation level Pushed down for a couple minutes and said no, I don't like that I'm gonna push back up So now I want to see it on this five minute continue higher if it comes down below where this was then I'll cut it Yeah, I mean Airbnb had a big green bar, but I'm not I'm like a plane of that because it's had big red bars, too So it's just doesn't nothing consistent there coin base Not really going anywhere yet. So I want Boeing to do what some of these others have done Look at Microsoft Definitely definitely just good out in Microsoft on that Come on Boeing Vicks down three and a half percent now So see how Tesla pushed down and it popped right back up and I'm getting a green bar out of that last five minutes S&P went red now. It's up eight points. So did not like being red, but Boeing is not Going anywhere at the moment Apple has a little mighty 90 long But like a Microsoft getting strong need to see something out of Boeing here quickly Wayne base It's not doing what a volume runner should do Gonna go ahead and exit coin base build at 540 so I Got short on a volume runners bar as big as the first when it popped up here and it just never broke through lows and so I gave it 20 minutes Volume runner you want it to Turn over quicker than that So pretty much a scratch trade there a little bit of pop a little bit of green Q-com. Yep, definitely mighty 90 and Q-com But it's already come down What I would say about Q-com though is it's a really tight range So I probably wouldn't get in that even though it's a good mighty 90 signal in terms of volume But the range is so tight Roku kind of same thing. It had a nice little mighty 90 long see a volume pop right there in Roku But man the range is just so tight Just not gonna get anything out of that. I entered a zero DTE iron condor What time did I enter it I entered it Five minutes after the market opened and So far it's looking good in it. I'm not entering another one yet because it has price hasn't moved that much So it may just be would just do one today see yeah, JPM We're getting a little bit mighty 90 if it pushes down one more time It's already bouncing so I Might consider entering it's pretty tight range as well But I have an order in at 445 to close half my Boeing and I thought I was gonna get filled there So with it being a continuation runner now I want to see it push up and I got filled on something What do you feel about I got filled on 20% of my iron condor Sweet so Boeing. I want to see it continue up now. I don't want to see it just chop Yep. Yep. Just paper trading zero DTE. So it's been going the month of October has gone pretty good Yeah, things aren't things have slowed down Yeah, Roku mighty 90s are really good-looking like that's what I look for On a normal day, you know, not a Friday It's nice volume pop separation there Build it for 40 for 50 Filled it for 50 and Boeing. I had an order in at 445 and it filled me at 450. Yeah, so Trader Jim so I would I would tribute this Boeing to just knowing Experience of price action You know probably two years ago, I would have bailed on Boeing right there as it got below that consolidation but instead I waited till this bar finished and The last two minutes it finished Going up so I held it Like that's simply a price action experience seeing this happen many times dip its toe down below Where the consolidation is and it comes like ooh, I don't like that. I'm coming right back up You know if you ever you ever in a slump and you I mean a lot of times I used to well when I was You know a couple years ago Starting to day trade for the first time I would sit there and just watch price action like even and even though I wasn't trading much I would just sit there and watch it So I got an order in at 490 to close a quarter of my Boeing if it continues higher And so I want to see it continue through highs though, you know, this is a continuation to the upside You know, I don't want to see it just chop now when base Hasn't really gone anywhere on my zero DTE. I got filled at 825 When I sold that iron condor and I closed half at 645 so I didn't went in at four contracts And then got rid of two at 645 and I got an order in to get out of one more contract at 590 at 495 and then I have a $10.50 stop Well, would you look at that coin base decided to come down to the red loads of day? Okay, so Boeing Yeah It's your Friday for you, right? You just gonna chop Amazon Just Slowly moving higher Tesla was a nice push back up and now it rolled back over S&P up 10 That's take up 146 Here's what my zero DTE graph looks like So you see prices kind of sitting still sitting kind of right in the middle Sometimes if price moves one way or the other right out of the gates and it gets you know off-centered I'll enter another one that's centered. That's what I did yesterday But this one really hasn't moved too far off-center for me to justify adding another one JPM pushing through loads of day So JPM potential mighty 90 here. Do I want to try to risk that or no? JPM mighty 90 in 7 DTE I would trade the 137 calls try to jump in here Fill it at 198 it's the 137 calls So it had this mighty 90. It's pushed down a couple more. So I'm hoping for a little two-bar bounce Boeing is not going higher. It's going down. So that's a bummer. So let's see what this bar does here a new one JPM kind of see on a Friday. You just get some inconsistencies and you get chopped up down up down Boeing I would close half at 220 yeah, I thought things started seem starts to see like they were getting stronger there and I thought Boeing's gonna rip through highs But not so much and this is why I don't trade zero the zero DTE option chain for these strategies because if it just chops then you've theta really decays I Will go ahead and get out of Boeing and I'm doing so just because of the continuation runner that you want to continue higher But at $4 to close Boeing. So small winner and a coin base Dang it. Definitely definitely definitely would have gotten out of at least half, but I held it a little bit longer Things seem like they wanted to get strong though. That was the thing Look at Airbnb trying to come back Yeah, Boeing little sucker Boeing, you know, they're probably just chop here eat JPM to rebound with Intel up over 10% I'm surprised JPMs that week. Look how tight a range Netflix is I mean for a $400 stock and JPMs Pretty tight as well The only reason I got into JPM is because it had a mighty 90 and it pushed down two more times So Essentially, I mean that's a good a good fill for it If I would have if I would have gotten in right here at this pivot Which I often do when there's a key level I would have probably added to it down here So I essentially got in for the first time where my ad would it would have been So just looking for two green bars at a JPM. We'll see if we can see if we get that Yeah, Boeing good out in Boeing Again follow the rules the continuation runner pushes up consolidating and if it would have continued higher after these two green bars You know, that's what I was looking for. It just just couldn't pretty tight range on everything So JPM, I'm just gonna wait for two green bars Unless market starts to get really weak and just don't think I'm gonna get anything else almost 930 central and time was way fast, doesn't it? So I'll post my out in JPM and the day trades channel, but just taking a last look here and just don't see Much happening. So let's check the live stream for next week. It looks like Steve will be with you on Monday, and then I will be with you Tuesday Wednesday Friday of next week So, let's see that JPM might is gonna give us a green bar. I don't know Two green bars amount of JPM But so I will see you guys next Tuesday. Hope everybody has a great weekend Talk to you later. Peace