 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 get it, 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 Friday, September 8th Everybody's having a good day I am hanging on by a thread in my quiet lunch trade My stop is at twenty-six Seventy-five, and spread is currently trading at twenty-one Got a tiny bit more breathing room But really could use a bounce Yeah, there's a lot of you notice Got a little fleshy flush there for a minute Out of nowhere, I mean Eight point drop, so nothing too drastic Based on where our quiet lunch was trading Didn't feel good So much lower And I'll get stopped out of that one for Power Hour We are looking at a straddle I'll go ahead and buy some longs Buying my longs in preparation To sell my shorts Did hit both profit targets on the AM ratio Decided to get into a discretionary rick Not sure which one of you talked me into that one But that was a terrible trade That one's sitting right smack dab in the valley So not what I was looking for out of rick today It was probably Meach I'm going to go ahead and blame that one on Meach I mean, Chris isn't here Who am I supposed to blame it on? I can't take ownership for a loss That would be ridiculous You know we don't do that around here We blame others and we blame the market when we take a loss Okay, so for Tronch 1 Look like the 44-55 straddle Another few seconds here Tronch 1 Straddle Here we come 690 Can I get a 690? Build it 690 on Tronch 1 44-55 straddle Someone sent me a message questioning Because they saw I think they were watching the replay and they saw Just my shorts on here And so then they saw Once I had all three Tronches on there Looking at margin requirement here and they said So you're using $2.7 million in buying power for these positions So Just so everyone's clear if you're new here No, that is not the case I buy the longs first I just uncheck them because they're going to most likely expire worthless You'll notice if I click on those Now this trade, for example, is about More like $28,000 That's what I left out, Wuga I forgot to check my Fibwap Damn it Guarantee DK is not in the Discretionary Rick today DK, are you 40,000 feet up right now too? Bringing the kids out Okay, that's cool Little father-son bonding time It's hard to get that one on one time These days I know what he's for me anyway Oh, nice At a shooting range are you going to knock off some living animals? Gotcha I like shooting living animals better Just to make sure they understand that we're still the dominant species, of course I knew that would get somebody fired up We got Entronch 1 I did enter a new time fly A little bit before power hour Once we got that little downward flush Wanted to get one on in case we get a little bit of a continuation lower If not If it bounces, we'll obviously adjust above 44.75 But Looked like a good opportunity to get into one I just got out of the other one today for 8% And the S&P back down to unchanged On the day VIX Which was down like Close to 6% at one point It's bounced up a little bit It's only down about 3 What kind of guns are you going to be firing, Dick K? Handguns? Are we talking AR-15s? What are we talking about here? Alright, the old quiet lunch The old quiet lunch is Not looking so hot Stops at 26.75 Spreads at 25.70 So much lower And that one's going to be bye-bye Trunch one of On trunch one Trunch one I do $4 Oh, on the I'm out of the quiet lunch Stopped on the quiet lunch On my Friday 3-2 quiet lunch I have an $18 stop Trailing Oh, $3 Sorry, $3 credit Dick K, you need to get yourself The judge Have you ever seen a judge Or heard of the judge again? Here's the judge It'll shoot $45 $45 Or $410 shotgun shells I have this one right here It's big You come walking into the house And you're not supposed to be there That's not what you want to see Pointing in your direction Yeah, I've got this one here Or this one, one of these two Maybe the same one Yeah, so it's a revolver But you can put these little Shotgun shells in there too Gives a little kick when you shoot it Yeah, I've shot both out of it It's fun, it's a fun little gun It's PX down to Down below $44.50 Yeah, my oldest just Finally, he's 13, he just Finally started getting interested in Shooting and hunting and stuff And shot shotguns a couple months ago I was trying to You know, the way he was holding it You could see that it was up against his shoulder Instead of more on his Pack And I was like, you gotta put it in there Otherwise, when it kicks, you know, you're gonna Feel it And he's one of those kids that You can't really tell him anything Yeah, yeah, I know, I know He shot it It was a 20 gauge Shotgun Shot it and it kind of jolted his shoulder And He didn't want to shoot anymore, so That was all he wanted Yeah, you gotta add a judge to your collection Alright, getting a little bounce off $44.50 for the moment Well, now that I got stopped Out of my quiet lunch After we get out of power hour I'm gonna need Rick to make a Big last-minute move He's gonna survive And it's not looking promising My track record for discretionary Rick's is not great I may have to give that up Sometimes I just gotta do it To remind myself that Following the back test works better Well, let me, let's see Alright, so my all-time There's my all-time Rick Stats going back to December of last year This is everything, 71% Win rate 20k total, but So here's one that I lost $2,400 on, there was no gap up Should not have taken, so consider that Discretionary Here's one that was a small loser Same thing Did not fit criteria Here's one that was a winner That didn't fit criteria $500 winner Here's one I went Position size too big These were early on Here's one I closed too early Would have gone on to make more Here's a discretionary one for $6,600 loss Here's a $1,500 winner for discretionary Here's an $1,800 winner Discretionary Here's a $2,800 loss And a $2,000 win for discretionary So, yeah, net-net Definitely red for my discretionary And actually, you know I mean, we'll see Today, well, I'll see tomorrow If the back test took a rick Because it is close with the vix Right, there's been a lot of talk about that Was the At the open Was vix actually Contracting or expanding A little bit And the day's not over A winning rick would mean a losing power hour though Possibly Five minutes until Trunch 2 Also, five minutes until I put on my 6-7 I'll go ahead and get my 6-7 On before I just posted my 6-7 6-7 Buy some longs for Trunch 2 And looks like the 4450 Strattle Trunch 2 Strattle 4450 Trying to get filled at 590 Filled at 590 on Trunch 2 I'm gonna do a 3-6 and a 3-5 DTE double calendar Also, a little bit later Yeah, I was playing around minute by minute With the different power hour entries and Yeah, quite a difference Between 14 and 15 For Trunch 2 for whatever reason I don't recall But for AM trades They have CPI and PPI Anybody have any thoughts on that? I was gonna dig into that a little bit this weekend As far as AM ratios go Anybody have any Solid Backtesting Data on skipping those days at all Or is it Business as usual I can't remember I know I've done it before But CPI on Wednesday pre-market And PPI Thursday pre-market And the CPI dates I have Was for a 1-1 So I haven't Done the testing with the ratio And it was pretty Average And the last CPI Data I have in this back test For blackout dates was April 12th So I need to update that So Wednesday, May 10th June 13th July 12th August 10th So I just posted all the CPI dates there If anybody wants to Use that in your blackouts Or your whitelisted Testing Oh, thanks, Gary Yeah, I've got that somewhere as well Alright, so Tronche number 3 Coming up Buy some more longs Tronche 3 And it looks like We could get the 50-45 Strangle Or it could be the 50 straddle Getting a little bounce here So it's looking like the 50 straddle now Or if it keeps bouncing It could be the 55-50 Looks like the 55-50 Now Get another 30 seconds Before I pull the trigger Back to the 50 straddle Alright, 50 straddle Tronche 3 straddle 480 Fill the 480 for Tronche 3 No strangles today, my friends No strangles for you So 40-50 44-50 The key number today Entering a 3-6 Double calendar Alright, just posted my 3-6 In the calendar channel Elliot, just saw your post in the PM Channel, are you on here? Yeah, I think it's the same situation If it's a broken wing Tasty is showing that As a percent Of the Debit not of The max risk Oh, is that a Humpty Dumpty? Sorry, I didn't look at it close enough I thought it was a fly That's the CEP 1920 Yeah, that's So it's at about 85% Of Yeah, so that's one where Up to the upside I would, you know, consider Closing it because it, you know, that would be it Almost max profit, but it's dead Centered, so I'll give it a little bit more time 3-5 3-6 is both performed Really well I like it specifically This week because we've got We've got nothing going on Monday So that's our shorts And then our longs On the five days CPI and the six days PPI, so You know if the options continue to expand A little bit over the weekend On the longs That should help our position So that's why I'm doing both of those A little more exposure with those longs On those different days Price hanging around 44 52 currently 26 minutes To go Trunch one 690 So I'm looking for 415 Trunch two I got it at 590 So I'm looking for 355 So Trunch one Currently trading at 560 Need some more Still need some more to come out Get my Trunch one charted here Currently trading at 515 520 looking for 415, so I need another buck Got down to Got down to 440, okay Oh yeah, Eli, that's 100% I do that all day long Got to whisper really nice commentary Into the ears of SPX It'll be what you want 30% of the time S&P, Nasdaq, Russell All red, Dow is still Slightly green Follows, no, I do not I don't close at 50% I've reduced my stop on Trunch one But 40% What's everybody doing this weekend? Anything fun? My dad Who lives currently In his retirement, lives in the Philippines He's back in town Some of you hanging out with old Pops This weekend You had to bring up football, didn't you Wuga? That was a rough game last night Our receivers, they had some Stonehands last night Pops has a lot of foreign experience So he had He had a manufacturing company Picture frame manufacturing And some other Manufacturing stuff And so he He would travel over To Southeast Asia For different suppliers And Woods and All different kinds of stuff And he just kind of fell in love With the whole culture over there He sold his company, he retired He moved to Thailand He lives in Thailand for eight years And Now he lives in the Philippines Stop adjust, thank you Did he get down to 415 I saw 430 I wasn't paying that close attention though LA did you see 415 I'm going to reduce my stop to 715 Thank you for that Now for Trunch two I got in at 590 355 That was the 4450 So I'm going to go ahead and chart Trunch two now So I keep that front and center It's down to four bucks I'm looking for 355 For Trunch two It's down to 355 I'll move that stop to 555 It's currently trading a little over four I don't know what that means Martin G But Trader Bianca likes it so Yeah, it was the slang part that got me I speak fluent German But the slang That's what got me So I'm going to go ahead and do my 35 Now as well to get that out of the way So I can focus on power hour Here's my reminder I just posted my 35 14 minutes till the bell I love a good crappy risk graph On a 35 Means there's good contango That means those back options should expand That's been my experience with those anyway Crappier the better Trunch two down to 415 I'm looking for 355 To reduce my stop Alright SPX Calm down Everybody calm down Simmer back down into the 4450 Getting a little too strong Right now little buddy Ten minutes till the bell Five minutes to bounce Elliot do you attempt any pinning On straddles or only with strangles That wasn't my question Four more minutes Oh it sure did Reducing stop on Trunch two Thank you for Keeping me in check on those Reduced stops I was not paying enough attention to those Alright Little couple Little couple point down move Will do Just fine I'm going to move my limit on Trunch one to 240 Trunch two About 360 No It's coming About 280 Trunch three About 250 I like the looks of this Trunch one to 90 Trunch three Three ten Start bailing here Three ten for Trunch one Build at 295 For Trunch one Trunch two and three are both at 4050 Moving their own way About three 340 Build at 340 on Trunch three Trunch two Don't run away from me 445 on Trunch two Small winner on Trunch two Let's see let's see Let's check it out Trunch one in at 690 Out at 295 Nice winner there Trunch Two in at 590 Out at 340 Nice winner there Trunch three In at 480 Out at 445 So small winner All three winners my friends Good end to the week September How about September Coming in hot After a Little bit of a rough power hour for August Alright good stuff Thanks for hanging with me my friends We got a zoom chatter coming in Dark Avenger By the way Dark Avenger I usually shut down the zoom chat But since it's you We chat in the zero live chat channel While we're streaming Let's see DC related are you planning to Close the three six yeah three six And three five will both be closed At the market open Monday Yep alright guys and gals have a great Weekend we'll be back Next week as far as live streams Go Let's see what is today The So Monday So Monday I'll be streaming live in the Morning at the open and for power hour Tuesday Wednesday is Chad In the morning And then Thursday And Friday there will be no live streams In the morning but power hour All week Alright have a good weekend take care