 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 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 Friday, September 15th I would say hope everyone's having a great day of trading But I think I already know the answer Little bit bloody out there my friends Little blood in the streets But, it's time for Power Hour Never know Could bring us back So, looks like even with all this down move Still are looking at a straddle 45, 55 at the moment Give it some time Buy some longs Pep talk, you need a pep talk Play the probabilities my friend, that's all I got for you Play the probabilities Mama told me there'd be days like this This is one of those days Part of the deal I'm sure that doesn't help any but That's what I got for you That's the real talk And hey, if I have a big Power Hour I'll be green on the day If I have a big Power Hour Could get bloodier, you never know But we shall see Only way to know is to play I like it, I like it Yeah, so I already posted but I got it I did an AM iron condor AM ratio I did a duck Did some discretionary JSPs And I did a DKS, got stopped out of all of them Could not sustain the flush Expected move low to start the day Was about 4480 And we got down to 4447 Let's come down a little bit Looks like it may be the 4450 straddle Yeah, I mean I can't complain It's been a good September really Been a good week, it's been a good couple weeks But today was bloody Oh yeah, I'm still up Yeah, I'm up big in September All right, Trunch 1 looks like the 4450 Or 4455 A little closer on the 4455 All right, 4455 straddle I get filled at 755, 760 Build at 755 for Trunch 1 So I was trying to get my I was trying to do my trader sink here So here's my, here's zero DTE for September Not counting today of course Up almost 53, okay So we'll today put a little dent in that Yes, yes it will But I think I'm down like 12 today Well, I don't know specifically zero DTE So we're in that ballpark 1112, something like that So we've got, all right, so If we look at the different strategies for September So let's do, we'll just go in order here AM ratios I'm up about 9400 on those Again, this is not counting today DKS Down about a thousand Zero day ducks Why not had any other ducks? I guess today was the only duck this month JSP's Down about 1100 Power Hour Definitely the big winner A little over 36K Power Hour so far this month PM iron condors Pretty much a scratch Quiet lunches Quiet lunches up almost 9000 And Rick, why is my Rick not showing up? Oh, I know, so Well, okay, yeah, so take Take the different category, all the P&L's correct But take the different categories They may be a little off We've got a ticket into Trader Sync Anybody else using Trader Sync? Are you having issues? I've had several positions where it I go in the next day and it Re-categorize my setup Like I have a situation where I've got like a Power Hour Trunch 2 that was Supposed to be categorized as a PM iron condor and when I try to When I try to relabel it It gives me a warning and I'm getting Like an error message so I've got it I've got to take it in with Trader Sync They're supposed to be fixing that so The breakdown of the different strategies The P&L may be a little bit off The total is correct but I'm trying to Figure out what the deal is on that Anybody else using Trader Sync have that issue? First started at the beginning of this week And they still haven't fixed it yet Mirage, you had that same issue? Kind of frustrating I was going and I'd load the next day And then I'd be looking at Like the previous week or whatever I was looking at Power Hour and it said On one day it had like Trunch 2 a couple different times On the same day and I was like Well that's not right So I looked at it and I was like No that's a PM iron condor Tried to change it Wouldn't let me change the setup The way that I tag them But They better get it fixed Alright Power Hour getting a little bounce So we've got a Put calendar in NDX It's down a little bit creeping down Towards the downside I will be entering a 6, 7 And a 3, 5 DTE double calendar Before the end of the day Entered a couple of time flies Here's the one I just entered Not much change there And then This morning This is hovering over To the left of the graph and it's up a couple hundred So layered in with another one And a different expiration One's got set 29, one's got October 5 Added a new short strangle In the cues Held off on another duck today I've got three I want to see if we get any more continuation lower I mean we're just To the bottom of this consolidation area Where we've been for a couple weeks I don't want to load up on too many ducks Until I see if we're going to actually Have a little A little more action to the downside Got a short strangle in oil Let's do an OK The puts we got in at 104 They've been hovering at around 40% Of max profit Yeah, they're not quite to 50 yet So Nothing to do there yet We've got a couple ES hedgehogs We're doing just fine Got a strangle in the Euro Not quite to profit target yet We've adjusted a couple times Rolled calls down a couple times on it Yep, FOMC next Wednesday Yeah, I'll still do the 6-7 for sure So for FOMC We will not be streaming for Power Hour but we will be streaming During the FOMC So we'll start about 10 minutes Before the Data is released We'll be streaming until 50 PM Central And then we'll stream into the Little ways into the press conference at least Question for the group Did anyone Not participate in Power Hour When it was part of their plan Based on what happened with their other positions Earlier today Anyone brave enough to confess I mean no shame I just want to Just want to have a discussion about it I'm scared Okay, good Honest Well, and that's different Frank D If you have a max risk Where it's part of your plan If you hit a certain loss limit And you're done for the day, that's different But if that's not part of your plan And you Took some hits on some earlier positions And you're just not doing it Because you're scared I get it But The other thing to consider Is that because you were trading too big Right If you're position-sized Correctly Then And it's part of your plan To take all the positions Then you should be I'd highly suggest following That plan So again, not trying to Pick on anyone or anything like that You know, I think it's good To Feel this kind of thing And understand why you're making the decision you are Trading such a big game of self-awareness I mean, listen I wasn't excited about Putting all this risk on the table After what's happened today Either But I also look at it from a perspective Of I know what my risk is I understand that days like this are gonna happen And I've got to be okay with that Otherwise my positions are too big Percent drop Percent of my entire account I don't know I trade zero DTE in the same account That I trade my portfolio margin stuff That I trade Some of my calendars So I'm just trying to think Just anecdotally what Just remembering Seeing a percentage Like if you look on your phone on TOS It shows your percent Up or down for the day on the platform It doesn't even show that So I don't know I would say This will be in recent history Like say the last couple of years maybe Or let's say year to date Because that's when I've been trading mostly That's when I started trading A little heavier in zero DTE I would say Gosh, I don't know 6% maybe Down 6% It would be probably the biggest one I remember seeing Which, you know, that's It's pretty painful for me I don't really want to see anything more than that About 5 minutes until Trunch 2 Alright, so Trunch 2 Let me buy some longs I'm getting my 6-7 filled over here Alright, just posted that in the Calendar channel Alright, so for Trunch 2 We might have ourselves a little 5-point strangle 55s and 50s Low premium 5-point strangle Now maybe the 55 straddle Give it another 30 seconds or so It's right in between on the put side Alright, technically It's the 5-point strangle It looks like Trunch 2 5-wide 415 410 55-50s 50-55 is our sweet spot Alright Sorry about that Respond To my son Alright, so Yeah, 50-55 here I'll be entering I entered a 6-7 DTE About the same time as Trunch 2 Later here 335 DTE So Wuga that was Yeah, I think I was close to 20% And it was before CPI or PPI One of the two So I was just I just took Some chips off the table closed part of it Yeah, same here we got I had I had an order at 20% didn't quite Get there and I just thought you know I just I'm gonna I'm not gonna close the whole Thing, but I just want to Take some chips office I think I don't know I got 18% Or something like that So let's see Trunch 1 I got In at 755 So 455 Is what I'm looking for to reduce I Stop on Trunch 1 Trunch 2 I got in at 410 I'm looking for 245 Yikes That's low 245 before I reduce my stop on Trunch 2 But it is a strangle so Trunch 1 currently trading at 590 Trunch 2 currently trading at 420 Bounce here up towards 4455 I haven't even really seen any news What was the was there a cat was there An actual catalyst for this move lower today Was it just a little Profit taking sell off Yeah, I saw that I I mean that was kind of a known Wasn't it I was pretty much guaranteed To happen Trunch 1 at 580 I need 450 Trunch 2 is at 370 I need 245 so I got a little ways Couple minutes Until Trunch 3 Because I thought I saw like Yeah, I mean Ford is Ford is up today Tesla's Not really in that mix But it's down slightly GM's up So Big losers today are AMD's down big Meta, Nvidia, yes the chips Chips are down big, Amazon's down a couple Couple percent MU, Nvidia and AMD are down big So semiconductors getting Getting banged AMC AMC theaters is up 3% though That should be holding things up Alright Trunch 3 Looking at a 55 Strangle it looks like Trunch 3 Wide 350 On the 55 Strangle If we could just hover here between 50 and 55 We're good to go Elliott's bringing down the market today I think What happened The biggest loser of them all Yeah, I just I don't I'm not Sure about options expiration I mean, options expiration Tends to be a little bit more bullish If anything Well, let's hope it got it all Out of its system earlier today Just gonna float In To the end Oh yeah, thanks a lot of follows Thanks a lot If we get smoked We know who to blame Well, my friends only A few minutes to go Might feel like 5 minutes underwater What else do you guys want to talk about You guys got any good topics Past the time Oh yeah, Dick K Let's see what is today the 15th So that was like the 19th or 20th Got any more wagers Get some action going today That'll pass the time Options for dollar Is that your profile name Did I get that right Let my longs expire Because they're gonna be They're probably already worthless 44.25 Or worth 5 cents My 40 Or 15s are worth 5 cents My 44.10s are 0 So yeah Those are those The longs are there for just capital Efficiency and you know Max risk Wuga, you're a grandpa How old will pick as your profile That's not bad Looking young and spry 2 and 4 years old Yeah That was not my favorite age for my kids I much more enjoy the Somewhat Self Self sustainable Age Out of diapers and out of car seats That's a big jump It's a big deal Full of teenagers Not bad so far Not like some of the horror stories I've heard from others The old diapers and car seats man That's a tough life Multiple Children and diapers and car seats That's a I don't think I ever want to go back there You've got every end of the spectrum Laura Got it all covered 40 and 43 are they out of diapers Question Yeah Exactly Marthenis Everything you do is a project Now the diaper question would Definitely pertain to your 98 year old Mother-in-law Cheerios between the seats Goldfish That's good I hope I'm a Trading power hour at age 98 Early indication For the market on close imbalance 1.2 billion on the sell side I don't I'm not sure there's anything to that But I keep watching it Oh, stop, so better pay attention Alright So Trunch one down to five Looks like trunch two May get there quicker Looking for 455 on trunch one It's currently trading at 530 Trunch two I'm looking for 245 It's currently trading at 290 What kind of questions does she ask She asks you like About like Sears row buck Stock What else Big back then How's my Sears row bucks doing Trunch twos down to 290 Trunch one at 550 Are you asking me Marthenis Why is there so much red A lot of those are opens Trunch one down to 505 Trunch two down to 275 Got it Which one's gonna hit first Trunch one or trunch two It's close, close race Trunch one is my 455 Straddle, so we need to bounce a little bit For that one to hit My kids have not shown a lot of interest in trading I have them pick stocks For an account they have But they just think it's really boring Although there was one point where So They first started picking stocks in their account Right when the pandemic hit So obviously the market was way down Right And so They both thought they were geniuses About a year later Bull market geniuses Kind of like most people That we see on CNBC really So there was one period where my oldest was like Dad I think I want to be a trader Really? This is a different tune Before it was always It's boring, I don't want to do that I was like what made you change your mind? He's like well I'm really good at it That's what he said I figured I could Just do that and then I can do whatever I want I was like alright I didn't tell him he was wrong But that kind of faded away Tevis one time When I'm not stressing about open positions I may need to have a discussion about position Account size with you Can't seem to get it right I will review my past sizing But it seems to be off What do you mean Tevis Is that based on Like today's Quas You feel like it's too big or something In ourselves a little sell off 44, 49 20 minutes to go We need a new low of day That's what we don't need So Tevis that makes me think That you're taking profits too early And your losses are too big Jim WZ Power hour saved your day Nice Good to hear Yeah that's what I'm saying Tevis I think if you have A day that wipes out A month of gains That means you're taking profits too early Your losses are too big compared to your winners Yep my 3-5 will go on Go ahead and start getting that set up Thank you Andrew K I've got an alarm that will go off here in a few minutes Reminding me So the 3-5 is my 20 delta Alright just posted my 3-5 In the calendar channel Did Trunch 1 get down to Trunch 2 got down to 2-45 You guys on the same one Okay thank you I need to go down to Trunch 4 4 45 Gonna need a bounce Or that one's gonna get stopped out We are creeping down Towards lows of day my friend My friends At a half point away Didn't quite get there getting a little bounce Get back up there above 45 44.52 Alright hang in Dodged it stop out For the time being Trunch 1 Trading at 5.40 I still need 4.55 on that It's gotta get closer to 44.55 For that one to get down Trunch 2 and 3 are trading down to $2.20 $2.10 Landau you trading power? Back up around 44.51 Vicks up 10% today And still under 14 Oh it did hit a Did hit a new low earlier today New recent low I think it was 12.73 Back in June Hit a low today of 12.68 Before ripping higher Yep overnight On top of the mountain Creeping down again Trunch 2 stops at 4.45 Currently trading at 3.45 Trunch 3 my stops at 6.50 Trading at 3.40 Trunch 1 Not reduced yet Still at 11.55 Currently trading at 5.50 10 minutes to go 5 minutes to exit Do your planks Kelvin Do your planks Getting a little green coming in Trunch 2 Trunch 1 Let's see this one here From 4.55 To 7.55 Alright reduced stop Trunch 1 and 2 that's good That's always a good thing So the market on close In balance the first 3 indications Were 1.2 billion to the sell Side and then the last And final one came in at 67 million to the sell Side so big drop so let's see if That helps the market drift higher Into the close 2 minutes till exit I'm going to put my trunch 3 Wrong way Need to bounce here Trunch 3 is at $1.70 Trunch 1 Get out at 5.60 Come on give us a little pop Little pop Little Soda Popinski Filled on Trunch 1 at 5.60 Filled on Trunch 3 At $1.70 Filled on Trunch 2 At $1.35 Nice That feels good I don't know if I got it all back from this morning But definitely a big chunk So let's see Trunch 1 Trunch 1 got in at 755 out at 5.60 So a couple bucks Trunch 3 Trunch 2 Got in at 4.10 Out at $1.35 That's a nice winner Trunch 3 In at $3.50 So about a 50% Winner on that one Awesome Good stuff Way to pair it back Hope that helped everybody here Alright my friends Have a good weekend Come back recharged Refreshed Ready to roll as far as live streaming goes Next week Let's see That was going to be Monday the 18th Alright so the 18th and 19th Monday and Tuesday I will be streaming live With you at the open And for power hour Wednesday is FOMC So no live stream in the morning But we'll be streaming during FOMC Starting at 12.50pm central Thursday the 21st No live stream in the morning But we'll be streaming for power hour And then Friday Chad will be streaming in the morning And I'll be streaming for power hour Alright my friends Have a good weekend Take care Talk to you soon