 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're here to trade We follow the plan, that's how we get paid Test and trade and 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 It's on the process, not the money And the profits will flow like honey Power our lives, 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 On a Friday, October 20th Hope all is well I am in zero DTE land today I got smoked out of a duck And I got smoked out of some JSP's And that's all I did today In the zero DTE world For Power Hour, it looks like we may get a 15 wide Maybe 10, we'll see what settles out here in a few minutes So a couple people took some other trades A quiet lunch Vegas Michelle, hitting a quiet lunch S&P down 40 NASDAQ down 185 Russell down 14 And DAV down 204 And the VIX is down, how about that? VIX and the SPX are playing a little Opposite week with us Markets down, VIX down Markets up, Volatility up So playing some games with us here The last, well really since Friday But it's okay We adapt We're traders, we adapt Yeah, so Anil on my PC Like I'm on right now That the share order template option Does not appear when I try to share it But when I do it on my Mac it does So I'm not sure what the deal is on that So for example if I go to Actually let me buy some longs here first Or I forget So if I set up my order template For Tronch 1 for example Let's say we're going to be 15 wide Normally I would go to this little 3 bar menu here Click on it And there would be an option to Share order template But you can see it does not exist When I do the same thing on my Mac There's an option that says share order template Oh looks like I'm getting filled on another Time fly exit my friends Let me post that before Jump into Tronch 1 Same day exit 6% on that one Just posted that Like in the course when I shared all those Order templates I must have been doing that when I was still on my Mac And then I went to I created some new ones I was going to share them And Landon was doing the same thing on his PC And he couldn't figure it out And yeah I don't know it's a Mac It's a Mac thing Available on Mac not on PC for some reason Alright looks like we're going to be 10 wide Tronch 1 Trying to get 8.50 Filled at 8.50 Wuga took my 8.60 Always one up in me Wuga Always one up in me Alright so 10 wide for Tronch 1 Something I've got kind of in my Thought process For Starting next month For power hour is I might I think I'm going to vary My position size based on the Width that we get for Tronch 1 So 10 or above I'll have one position size that's higher A 5 wide I would do a little bit less position size A straddle I would do less And then if we're inverted and I'm doing a straddle I would have another position size So haven't thought through that all the way That's just FYI Something I'm kind of considering starting next month Okay good to know Wuga So we have no time flies on man Those things have been popping off this week After making us hold out Most to last week Yeah Maro you're You posted I think last week A little screenshot of kind of the Breakdown of the different widths That's what kind of got me rethinking about it I still may do another time fly I've got it on a note here right in front of me I think it makes sense to jump into another one here In fact since we've got so much time Between Tronch 1 and Tronch 2 Let's go ahead and look at that Probably go back to the Nove 10 cycle So for you following along at home On the time fly I'm trying to get filled on this one I'll adjust it to get filled here Most likely won't get filled at that price Starting to get filled at 345 Got a partial Got filled on 4 out of 25 I'll let it sit there for a bit Kelvin my wing width Are you talking about for the time fly I usually start around 50 And then if it's higher volatility I'll go wider Lower volatility I'll go narrower I'm just trying to I kind of look at Here's price currently at about 40 to 40 The expected move between Over the next few periods Expected move until Monday is 44 Expected move until Tuesday is 60 I'll just kind of get an idea of If we move 40 points to the upside I'll have to adjust So I'm just kind of gauging that Based on the expected move Sometimes I'll skew it a little bit One way or another If I want to give myself more room to the upside More room to the downside So it's just a little bit of tinkering And playing with it But as far as the width goes I usually start at 50 And then kind of adjust it from there As far as power hour goes I'm on the 42, 45, 42, 35 Alpha options What's up Mike You probably already covered Considering you have power hour success Every day of the week Have you tested a strategy For ending near the end of day End of one DTE And held to the following power hour I've tested a lot of one DTE stuff In general On option omega By the way, we do not We don't win every day a power hour I wish we did But it's normally Over a large number of occurrences I would say we win about 60 to 65% of the time So, yeah I've tested a lot of one DTE stuff I haven't found anything That I'm super comfortable with For one Of course then you're holding overnight So you've got that risk on a Pretty, you know Usually a pretty narrow type spread So you don't have the Ability to bail Overnight obviously So for a similar type of strategy Yeah, I'm not too big on One DTE holding overnight But there's a lot of folks who do it Waterman was that Comment to me Every time this discussing came up I denied the merits of it I'm not sure what you're referencing there Oh yeah, tomorrow I posted The strikes of the time fly above The 4270, 4220, 4165 Are you talking about the width Versus premium? Yeah, I've thought about it before I certainly never dismissed it I hadn't done anything about it But that doesn't mean I dismissed it Yep, 10 minutes I'll be doing a 5-7 Right before I get into trunch too Yeah, I mean there's no doubt about it I mean if you look at When I first started like Trading power hour The way I do now The first full month was April I was trading it before But not to the same kind of discipline Following exact steps On a monthly basis April obviously we had some Higher implied volatility Performance was fantastic We had periods like July and August Where implied volatility was super low Results were just kind of meh Right, so Now we're back up to higher implied volatility And October's been a massive month For power hour So there's obvious, you know There's just a lot to that How much better it works When you get wider, right? So more, and of course The more data, the more we trade this The more everyday options have been Along, we'll find more stuff too So as far as the calendars I'm putting on today for next week So there's nothing Monday Is Powell speaking Wednesday? It's not shown on this calendar So I'm doing a three, six Because the three, the shorts would be nothing The six has some unemployment stuff that day For my longs, and then I'm doing a five, seven Because there's nothing Wednesday on the shorts And then there's some core PCE stuff On the sevens on the longs Yeah, and mark your calendars I'll be posting more about it Our resident accountant, Wuga Will be presenting his trade plan Next Thursday, the 26th 30 minutes after the bell Can't wait for that So let's see, trunch one, I got in at 8.50 So 5.10, I'll be reducing my stop Currently trading at 6.75 Wuga, you've never taken a tax class And you're an accountant? Reminder, the 5.7 All right, now I'm getting filled on some more Time flies, there we go All right, now I can post it Fill that 3.45 Just posted that in the butterfly channel 5.7 Why is this happening? Something I'm not understanding on trade hoc Sometimes my orders get rejected Hmm All right, I'm gonna have to come back to that 5.7 We got trunch two coming up Buying some longs for trunch two Looks like we'll have a 10 wide 40s and 30s Give it another minute SPX coming down Few points above, lows of day Looks like we could be 15 wide 40s and 25s 40s and 25s, 15 wide I'll get filled at 4.95 Filled at 4.95 for trunch two All right, I gotta go back to mother monitor here And figure out why I'm not getting filled Hmm, there we go I just posted my 5.7 in the calendar channel Let's see, looks like There's been a bunch of posts here in the chat So if I'm not trying to ignore anyone So if I missed a question that you're Still looking for, feel free to Repeat your question here in the chat What about this? S&P down 42 VIX down 2% Ooh, to thunk I guess it got so overpumped That it just had to give a little back I do not see a Powell speech on On my calendar, no For Wednesday, Wednesday the 25th I see new home sales and crude oil inventories You got a, if you got a different calendar That's got something, feel free to post it Hmm, well that's after the market closes anyway so Or I don't know, actually I don't know what time frame you're on Well, let me refresh mine Oh, there he is But it's after the market closes so that's good So, as far as the calendars go though Let's see Yeah, I mean it may Well no, having the shorts there is not going to matter Because they're going to expire before he speaks So yeah, I'm still good with the 5.7 I'm going to do a 3.6, I'll do that here In about 15 minutes Tronch 1 is down to 5.60, I'm looking for 5.10 Tronch 2, I got in at 4.95 Looking for 3 bucks To reduce Tronch 2 Yeah, I must have, I have my I have that calendar open since this morning so And Neil mentioned they just added it 2 hours So as soon as I refreshed it showed up Getting a little bounce here Tronch 1 down to 5 In the 5.30s Looking for 5.10 Another few years of growing capital And quitting as accounting and then Lauren's going to come on board with navigation trading I heard Tronch 1 down to 5.45 He hasn't confirmed that yet But I'm just saying that's going to try to make that happen Lauren are you even on the live stream? He might be just chatting A little bounce, now we're falling again Tronch 1 trading around 6 I did, I got smoked on my ducks and my JSP's Both of them A couple minutes until Tronch 3 Buy some more longs 3 looks like we might be 20 wide Maybe 25 even 20 No Can't count 15 40s and 25s Give it another minute No, the ducks are not doing so good I got to decide if I'm going to kill that duck or not I know one thing I'm going to do is I've got to If a duck gets stopped out so is your JSP's They got the same similar criteria So when both of those get smoked It's a little bit more painful than I prefer It looks like the 40, 25s Tronch 3, 15 wide 380 Build it 380 40, 25s Tronch 2 is trading down to 385 I'm looking for 3 bucks SPX moving lower SPX put in a new low of day I get filled on a 36 My 36 in the calendar channel Tronch 1 is 6 bucks I need 5, 10 Tronch 2 is getting close to 3 bucks For stop reduction It's a nice little bounce off the bottom Who's going to get their stop reduced first? Tronch 1 or 2 Need to go above 35 for Tronch 1 Tronch 1 is there Oops, wrong one 8, 10 Reducing my stop on Tronch 1 Tronch 2 I'm looking for 3 bucks It's at 315 310 305 3 bucks Reducing my stop on Tronch 2 All right, good Good, good, good Early indication for market on close and balance 945 million sell side Yep, just reduced 1 and 2 Tronch 1 is down to 460 Tronch 2 is down to 320 Tronch 3 is down to 320 Tronch 2 and 3 are the same 42, 40s and 42, 25s So anywhere between 35 and 40 would be just fine Since we got the 25s Yeah, I'll take 42, 37 What else did I do today? I entered a new put calendar in SPX 710 DTE We'll turn that into a double if needed or take profits at 10 to 20% Added a new duck in rut Our duck in SPX has taken some heat Our VIX spread I took off 4 of 10 If Volatilia was going to get more pumped today I was going to shed some more of that VIX hedge and add some VXX verticals the other way But I'm going to wait until next week Still not much juice coming out of oil Rolled down some calls in MES Rolled down some calls in QQQ What about the VXX? Yeah, I mean you'd figure if we were down 44 points that the Volatilia would be up but it's not At 5.7 I put on is already up a couple hundred 21 and a half minutes until the bell So I got in Trunch 1 at 8.50 My stop is at 8.10 Trunch 2 I got in at 4.95 My stop is at 5 bucks Bryce is currently hanging in our sweet spot We don't really need a new low of day I just don't think we need that I just don't think it's necessary Stop on Trunch 1s at 8.10 I'm currently trading at 6.75 Now it's above 7 We hit a new low of day I'll probably get stopped on Trunch 1 And there's a new low of day I'm getting close to my stop Let's get back up there And I'm going to get stopped here Stopped with some slippage So I stopped at 8.75 and 8.85 So I got into 8.50 So I lost about 30 ish cents on that one Trunch 2 and 3 are trading at 2.65 Stops at 5 bucks and 6.80 My stop on Trunch 3 is 6.80 Trunch 2 is 5 Spreads currently trading at 2.70 I'm with you I was thinking about that earlier I'm going to go ahead and get out of that duck It's down about 6.60 My exit point is about 7.75 I'm not really interested in a big gap down over the weekend To smoke that thing So I'm going to go ahead and close that one I'll re-enter next week if we get some more downside I got out at 13.90 on that one Bix is almost unchanged now that the S&Ps are down over 50 Trunch 2 and 3 We need to hold our heads above 42.25 Market on close Early indication at 1.4 billion sell side Matt from Option Omega, are you on the stream? We just need to hold here above 42.25 Trunch 2 and 3 trading at 2.70 I'm watching this market on close thing I don't think there's really much to gather from it What I'm noticing is if the final number at 10 minutes to the bell Is a big change then we see some market gyration But as far as direction goes I mean if it's on the sell side sometimes it goes up It's on the buy side sometimes it goes down So I don't know what to make of it If there's really anything to If there's really any benefit to watching it I'll continue to watch it a little bit That's right Ease on back up to 42.33 Ten minutes till the bell Getting a little down movement right at that point I'll see what the market on close comes out at Definitely kind of was bouncing kind of reversed 2.1 billion sell side So yeah jumped up So we saw a little bit of down movement But new lows of day Need to stay above 42.25 Trunch 2 stops at 5 bucks Spreads currently trading at 2.40 Still going down Get back up there Just get back up there That's no fun Bianca Really disappointing how buggy Tasty is Just not I had high hopes for tasty Alright bounced off the lows of 42.24.5 2 Back up to 27s Yeah there's definitely buggy things with every broker Is technology Well if we're hanging out right here I'm going to close Here in a couple minutes If we bounce here in the next couple minutes I will be Taking closer to the bell Down below 25 Trunch 2 I'm going to get out of Ugh Pushing Pushing lower, no wrong way Alright out of trunch 2 at 225 Getting a nice bounce now Trunch 3 trying to get out at a buck 20 Trunch 3 filled at a buck 20 So let's see Trunch 1 was a small loser 30 cents So that's minus 300 Trunch 2 Got in At 495 Out at 225 270 Trunch 2 I made 4,320 Trunch 3 I got in At 380 Out at 120 260 14 equals 3640 So 7 8 A little under 8 grand So I'm not too shabby I'll take it I'll take it to end the week Alright my friends There she blows Another power hour win Next week Oh hey Maro See you on video How are ya Next week Let's see next week is the 20th Alright so next week Monday and Tuesday Chad will be streaming at the open Wednesday, Thursday I will be streaming for zero DTE Friday Chad will be streaming at the open Friday Chad will be streaming every day for power hour Alright everyone take care Have a good weekend Chad with you soon