 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 then 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 Hey everyone, welcome to Power Hour Live Friday, October 27th Hope everyone's having a good day S&P down again today, down 26 Nasdaq is green Russell down 22, Dow down 4, Hyundai Vix up 5%, hanging around 2170 Just off the lows, we're about 4 or 5 points above Low of day Started to bounce, coming back down Only zero DTE I did today was Rick I wasn't even at my computer when it hit So I didn't even get to send out the Rick meme But still, I'm still holding one contract So I'm going to let that one ride For a little while anyway Power hour looks like we're going to be 10 or 15 wide I need to go ahead and buy some longs I had a meeting over lunch, so I didn't do a quiet lunch Anybody else do quiet lunches, I assume those would not have done so hot It looks like we'll be 15, maybe 10 wide Depending on where this settles out here in the next couple of minutes Today I need to do a 4-7 and a 6-7 And then towards the end of the day I'll do a 3-5 DTE for my double calendars So as of right now, it looks like the 20s and 0-5s Give it another minute Maybe the 15s 0-5s Back to the 20s The 20-10s I'm in between here, I have to make a decision in about 10 seconds 20s 0-5s, 15 wide Filled at 680 Filled at 680 15 wide, 20s and 0-5s Gold and silver, green on the day Notes and bonds mixed, 10 year yield pretty flat Oil up 2% and out of gas, slightly red Grains mixed, Euro and the pound flat Bit coin down 1% SPX creeping towards lows of day And just tick the new low of day I don't know what time my Rick hit, I wasn't even at my computer, let's see Filled at 1221 central Still holding one runner Let's see, what does Wuga's stats say about 15 wide Actually I got Maro's cheat sheet 63.5% win rate on 22 trades So wing with Wuga's 38 occurrences, about a 58% win rate Turned on margin 2.26 New lows Got our November 3 time fly that we adjusted It's up some, not quite to profit target I'm going to continue holding that I looked at, I still want to see VXX get up Closer to 28 handle or so before I add Any more VXX verticals Low of 410417 My stops at 1080 Currently trading at 750 4106 Let's just keep that as low of the day I don't think we need a new low of day, do we? Yeah, Chris, if you already got stopped out of your trance one I don't know man, that's To me that's not a big enough move to get stopped out on Got to give it a little room to breathe Nasty little sell off this week, my friends Last two weeks Just 10 days ago, we're almost at 4400 Now we're at 4100 Just over a month ago, VXX was in the 12 handle If you can believe it My how things change quickly My account was hitting new all time highs And equity when I went into lunch today When I came out And the S&P was down 20 something So it certainly didn't hold Didn't hold my new equity all time highs Got a lot of negative Vega 10 minutes till trunch 2 Yeah, I'm going to start looking at my 4 I'll give it a 4.7 first Little bounce here SPX Alright, when I head and get Got filled in my 4.7 a little bit early Because I got trunch 2 coming up as well Supposed to be my 4.7 What percent would you have In separate Roth accounts to trade options Without conflicting strikes Like 300 total You have 32100 100 Sorry brother, I have no idea what you're trying to ask there Were you asking me Or were you responding to someone else Yeah, you're going to have to clarify I can't I'm not sure what you're saying The amount that you have in an account Has nothing to do with conflicting strikes Right, yeah I have multiple accounts So I trade certain strategies In different accounts Because I'm using similar exploration cycles To avoid overlap Makes it easier It depends on your position size Really If you're trading in a Roth You'd want to do defined risk strategies In a Roth like calendars Butterflies, all that kind of stuff Your percentage Or the position size you do That's just going to be part That's just going to be up to you How much do you want to allocate To the strategies you're trading In an account If you want to split it 100k, 100k, 100k That's a personal decision That's not something I can answer for you Like my trade hoc trader account It's a smaller account Just because I'm still Working with it As I become more and more comfortable With it I'll start loading more money in it So right now in that one I'm just trading my Back test driven calendars Exactly As margin the biggest consideration Not sure what you mean I have my portfolio margin account With toss Trader does not Offer portfolio margin yet They are Supposed to be coming out with it at the end of the year Tasty has portfolio margin But You're trading a Roth IRA That's You're trading an IRA The way buying power works In an IRA You can't do anything about that A little bounce Back down a bit Trunch 2 coming up in a few minutes Buy some longs for Trunch 2 Part of the thing Opt for dollar It depends on how many strategies you trade I have no idea what you're trading So If you traded a bunch of different strategies Like I do Having multiple accounts makes sense For some people Just having one account is just fine So those are really Just kind of personal preferences Of what you're trying to do Looks like we may get 15 wide again More getting a little bounce Trunch 1 back to center And we may be on the same strikes If we hold here Looking at the 20s and the 05s 20s and 05s 15 wide for Trunch 2 Going to get filled at 5 65 Why does it say weight? There's my working amount that dropped About 540 Filled at 540 Same strikes 20s and 05s Trunch 1 I got filled at 680 So 410 is my stop Production Trunch 1 Trunch 2 I got filled at 540 325 to reduce my stop On Trunch 2 I got to do a 6-7 Get this filled and I'll put it in the calendar channel I'll do 805 So I got my 4-7 My 6-7 in Later I'll do a 3-5 SPX catching a little bounce still Ryan P When you pick the new stop Do you follow the formula for T1? It's just I would reduce it to $3 over the current price Yeah, so my original entry in Trunch 1 times 60% Yeah, yeah Exactly, you got it right Yeah, so I just make a note I just calculate 60% of my original entry And then I just have that Literally written down on a little note Right here in front of me so Then I watch the price and once the price gets down to that I'll add 3 bucks To that and reduce my stop to that level I need to grab myself A little water Alright, rehydrated The Wally World So when I use the template It sets up my stop Order and a limit order at 90% So Obviously if my stop gets hit It's taking out My limit order I use At the end of the day So then I can just cancel Replace that, adjust it to To get filled At the end of the day if I don't plan on taking it To expiration So yeah, so the answer to your question Is yeah, I use my Order templates to Exit A few minutes till Trunch 3 So Wally World, I'm not sure if you've seen The DTE Zero DTE course channel There is a video and some shared links Of the orders How to set up your order templates Those are just kind of examples And then you can tweak them To fit your size And all that good stuff Yeah, they're definitely not there to just be Copied and Ready to go, you gotta Each order template has its own Position size, so you gotta adjust the size And Any other parameters that you want And then you can save them as your own Alright, almost time for Trunch 3 Looks like the 15s and the OOs They're 15 wide, 15 wide for every Trunch today Surely We can get some profit out of 15 wide Right Might be the 15s 05 15s 05s 15s and 15s and 05s, I'm going 10 wide Trunch 3 10 wide 510 510, 10 wide Trunch 1, I'm looking for 410, it's currently trading at Oh boy Nobody told me I gotta reduce my stop on Trunch 1, kids Alright, stop reduced on Trunch 1 Sorry Landon Maybe I gotta look at the chat Alright, Trunch 2 Is trading at 530 That one's getting ready to be reduced as well Trunch 2 Trunch 2 trading at 360 I need 325 That was the closest to 2 bucks right when I entered Tomorrow Trunch 2 trading at 355 Landon, I beg your pardon This is what my grandpa used to say to me Pardon? It's at 350 345, I'm looking for 325 on Trunch 2 It's not 330 330 330, no 325 yet There's 325 Alright, reducing my stop on Trunch 2 Alright, anywhere between 4105 and 4115 works for me I bet my little rick runner doesn't like this bounce I don't really care about my little rick runner though I'm gonna kill my little rick runner We end up flushing lower, I'm going to regret it but that's right She gone Dark Avenger against the rules, how dare you Gut feel has no place for power hour Tomorrow GR to get out of your Nove 3 butterfly What did you end up getting on that? Mine's up, well So let's see the expected move between now and Monday 44 Before the Saturday Sunday Monday I'm gonna let this baby ride I'm gonna let my time fly ride till Monday Trunch 1 and 2 are trading down to 280 Trunch 3 is at 480 Tomorrow you got stopped on Trunch 3 You went wider, but Meach I saw that you billed on your golden fly I'm gonna have to do the same I had high hopes for that one But I just can't Just can't risk that to Monday Had high hopes for that one Just didn't pan out I know you were I saw your different adjustment ideas Sometimes you just gotta If it's enough Still got a shot to book some nice profits On the second half of that October 31 shark Ooh nice Meach Alright she gone SPX coming back down Nasty little red bars, hold yourself up I like the I like the little down move, not too much though I need to do a 6-7 here in a bit Or a 3-5 I mean I already did my 6-7 Let's do a 3-5 Wednesday is a big day next week We got ADP non-farm Jolts and FOMCL on the same day Which means on that 3-5 there's gonna be lots of Contango SPX still coming down Alright just posted my 3-5 Yeah I used 4x factory calendar 4xfactory.com for upcoming news events If you want Right now You can use financialjuice.com There's a paid version I just do the free version It's like 30 seconds delayed Alright we cracked a new low of day We said we didn't need that Now we need a bounce 19 minutes to go There's a little bounce Trunch 1 and 2 trading at 2.75 Trunch 3 is at 3.35 Stops have been reduced Trunch 1 and 2 We can just drift Drift into the close from here That would be, that's all we need Even with hitting new lows Volatility has actually contracted a little bit I guess it popped back up First 2 early indications for market on close and balance was 635 million sell side Murph Dog check your check your trade history Should be able to tell what it was Trunch 3's Trunch 2 is trading at 3.30 3.45 Stops at 5.25 That's the closest one That would be the one that would get stopped out first if we were to head lower You do the same number of contracts for each one That's one of the reasons that I do different contracts for Trunch 1, 2 and 3 It helps me with easily tracking which is which There you go, get back up there a little bit Yeah, on the 3.5 I do a 20 delta put, 15 delta call on the 3.5 Yeah, I keep the risk pretty close to the same dark vendor But I vary the number of contracts that I don't have the exact same number of contracts because I would confuse myself 12 minutes to go We got a nice wide 10 point range to play around in Mr. SPX 10 points in 12 minutes Just stay within it Trunch 3, I've got the 41.15 and 41.05 Alright, 10 minutes to go Trunch 1 and 2 trading at $1.40 Trunch 3 trading at $2 The third market on close Final $325 million sell side Not much of a change there That's good Are you talking about this right here, discount? So, how do you make only working orders show up? Well, these are my working orders It's this drop down that says working orders And below that are my filled SPX getting a little bouncy A little bouncy Yeah, I actually just found this I had seen it before but I just started using it about a month or so ago I was always using my filled orders but I was using the account statement tab instead of the activity and positions So yeah, it's kind of handy especially for this Alright SPX, you found your spot 41.10, that's where you need to stay buddy I don't think I've taken all three to the bell like like my boy Elliot does I'm gonna do it today Today could be the day A little whippy here the last 20 minutes Alright Here we go This is where the rubber meets the road up to 41.15 You need to stay below 15 Break out the heart rate monitor on this one Make sure my heart's doing okay Nice Bianca out at 50 cents Ooh, it's at 110 Feeling it, I'm feeling it Sometimes you gotta just do this to feel alive, you know 119 That's a higher reading for me 107, back down to 94 Nice Lando Back down to 13, I like it I like it, I like it I've got my orders at 10 cents So it could take me out If it's right in the middle it will usually take my 10 cent order If it's hovering near a strike it usually won't Alright, back to 104 Andrew Kay, you're riding with me Naked, trading Naked's got some sweaty palms Love it I ain't creeping back up towards 15 A little over 2 minutes to go Nick, cool 79 Yeah, I'm usually in the 90s I'm still at 107 116 A little anxious anxious today for some reason I just drank water at lunch No cafe, I had coffee this morning but oh Something hit 10 cents Trunch 1 and So I'm at a trunch 1 and 2 at 10 cents Trunch 3 He's got the 15 I needed to stay under 15 Only at 14 We'll under 15, less than a minute to go Stay boy, stay Sit, Ubu I'm creeping above 15 Up to 16 Up to 17 Where are you going? Get back down there 18 There's the bell A little mark down on the clothes Back down to 17 So Ended up with about 3200 Profit on Trunch 3 That little move in the last 2 minutes Cheated me out of my best power hour ever Still good though Still did A little over 20k I'll take it Good stuff my friends, way to end the week By the way, I just cracked 100k For my Month of October For power hour I know Elliot passed that like A week ago But Awesome Good stuff, good stuff Elliot over 27k today, that's awesome Give you a fire emoji on that one Good stuff, good stuff Alright, so We're going to stream next week We got here Monday the 30th, so we will be streaming live In the AM on Monday At the market open And then for power hours Well Tuesday and Wednesday chat will be streaming At the open Tuesday will be streaming for power hour Wednesday There will be no chat will be streaming In the morning We will not be streaming for power hour on Wednesday But we will be doing an FOMC live stream Starting at 1245 Central To do some FOMC trades Thursday Zero DTE live stream and power hour And then Friday we'll do power hour And then chat will be in the morning Alright everybody, have a fantastic weekend And we will chat with you soon