 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 Let's not 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 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 Well it may be more planking, less getting locked and loaded today My friends, welcome to Power Hour Live Tuesday December 12th, premiums non-existent Unless you're interested in a $5 straddle Less than $5 straddle I am not I've got a hit my 50% on my quiet lunch That was good for about $2,500 I've got a PM iron condor that's up 22% That's up another $2,100 So I'm going to let my PM iron condor continue to work Till it hits 50% But I will not be taking any power hour trades I also did a discretionary rick for the bond auction That one's trying to make its way out of the valley So I'm going to try to scratch a little profit out of that one If it keeps going up a little bit S&P up 12.5, NASDAQ up 94 Russell slightly green, Dow up 130 Gold and silver slightly green Notes and bonds a little bit green Ten-year yield down three quarters of a percent Down to 4.209 Oil and natty gas are moving Oil's down 3.5%, natural gas down 5.72 Soybeans down a percent Wheat up 2 over 2.5 Corn a little bit green Euro and the pound a little bit green Bitcoin a little bit green VIX, or buddy VIX down over 6% Down to 11.83, hit a low of 11.81 Just slowly bleeding us dry I mean as calm as this market is If there's any premium I would consider doing something But I just can't get behind a $5 straddle Or a $2 strangle You go 5 wide and get 2 bucks If anyone's interested SPX pushing highs of day Got a little bond auction Did a little dance and jiggy Tiny movement And just kind of drifted higher Make sure none of my power hour bots are on Yeah, they're all off I did do a 1-2 and a 1-3 B&B, double calendar earlier Both of those are up a little bit I've got my 6-7 That's up a few percent What's up more? What are you guys doing? You guys doing anything? DK, are you playing something? SPX is up 0.4% from the open So not in update territory I mean if I was going to do anything at all Maybe I'd sell some puts, but No thanks Yeah, so tomorrow's FOMC So I won't be doing any morning trades But we will be streaming live for FOMC So I'll be doing my My FOMC trades Got PPI pre-market Getting out of my Scratching out a tiny profit in my My RIC Started with 9, I've got 5 left So What do you guys want to talk about today? What can we talk about today Since, I don't know, I'm not going to be trading Anybody new here, have any questions? Anybody old here, have any questions or topics? Now's your chance Cosmo, check my trade plan You'll see the two FOMC trades that I do The first is an iron condor And that is entered just before the data is released There goes the rest of my RIC I've got one RIC runner left In case this thing really wants to push higher So the FOMC iron condor goes on Right after the data is released And then it stays on for about 25 minutes And is taken off right before the press conference And then right after the press conference starts I put on a long strangle To try to capture some movement during the During or after the presser White Tiger P2H, that's something Tim Weiss does I've got a couple of PM iron condors That are part of my plan So if the right criteria sets up and all that good stuff Then I'll take those I'm not taking any every day Just two hours before the market closes Or anything like that If I remember right, Madame Butterfly I think he still enters in the morning But I'm not playing the morning Theta will sit there and decay very slowly So you're taking the risk But you're not getting paid for it I'd rather wait until right before the Data is released and you'll get almost the same credit If not the same credit And then just play it that way If you look at the trade logs I think you'll notice that none of the profit targets Ever get hit until after the data is released Bumblebee, in regards to the short squeeze How does one know that there's a short squeeze On an underlying at any point of time Well, I mean there's not Are you referring just to what We call a short squeeze Like when the S&P is up a half percent Are you talking about a true short squeeze Well the S&P we just I mean for me And I don't call the short squeeze Just because that was You know it's not really a short squeeze But what Tim Wise refers to as a short squeeze Is when the S&P is up half percent from the open So I don't know Bumblebee, if you have TOS You can go on the zero DTE course channel And you can put this indicator on So for example right now the current move Is the S&P is at 0.42 percent from the open So it's not quite there today for example A true short squeeze And there's no real Specific criteria It's just one of those situations where you kind of If you see it You might say now that's a short squeeze When something just continues to go up And a lot of times on a true short squeeze Even if you know typically if a stock Or an index is going up Volatility is contracting But if it's going up and it's just Exploding higher And volatility is also Expanding You know in my mind that's a real Short squeeze where you've got some People who are trapped short And now they're buying back to cover And it's propelling the stock Or index higher See it more in individual stocks Not necessarily an index very often Yes sir you're welcome You have Madame Butterfly Personally I've traded enough In the morning before FOMC That it's just not something I'm interested in doing Alright we are at the Upper expected move for the day So I got out of eight of my nine Ricks at just a small profit I'll leave this one runner on to see If this thing is just going to Get ridiculous It's like somebody's chiming in On the zoom chat Ira aka M field Do me a favor post in the zero live chat I don't monitor the zoom chat Now the questions are Do you recommend we set up Those indicators I saw On the zero DTE course Yeah I mean if you're going to use Some of the filters we use They're just a quick easy reference You know so So that I know Okay because I have specific Setups that I will trade If the market's up over half percent From the open Certain trades that I've got it on VIX So I've got certain trades that I trade if the VIX gaps Up or down It's just a quick reference for you So yeah I would certainly suggest Doing it if you have toss no reason not to Let's see you use E trade Yeah so those indicators are only on Toss one of our members Aten Rock created those Won't be able to work on E trade But it's just for easy reference I mean you can Easily Figure out if the S&P is up A half percent from the open or not Without them it's just a So you don't have to manually do the math But you can certainly do that You just figure out what the open is On a chart Whether it's on E trade I don't use E trade so I don't know how it works But you can use trading view Or any kind of chart Just to When the market opens Calculate what's up or down a half percent Look at VIX Same thing and just kind of plot your lines I do something similar here manually These yellow dashed lines Those are just the Expected move for the day So I just take a look at The zero day options And go over here to the option chain And see okay At the beginning of the day it was plus or minus about 20 today. Krish also posts it In the morning on his Little snapshot And then after the market opens I just go in here and plot these So now I know we're beyond the Expected move to the upside today Just a reference Oh yeah White Tiger I haven't checked that out yet So what So like Your indicator If the quiet brunch 8.50 to 9.45 am Is green that means that one is a go The trade is that how you do that That's cool And then So you're gonna have different criteria than other people So I assume you can go in there Adjust the filters based on How individuals trade it Is that right Awesome that's cool thanks for doing that I will I'll check that out and then I will I'll post that link in the Zero DTE course Along with Atenroz stuff Looks like you've got everything Atenroz plus the Additional Things you added good stuff Looks like I missed something Cosmo Thanks another question regarding the DCs We have FOMC And then the December Option expiration What's your take on calendars with the front date In this week So option Expiration doesn't mean anything to me I mean we have options that expire Every day now Options expiration used to be a big deal When they only expired once a month But anymore it's not really Anything FOMC What you'll see is so I've got a TGIF for example That I just put on yesterday I like having these on during FOMC Cos a lot of times what happens is that Front week will get crushed Back week options will stay A little bit bid and so a lot of times you'll see some Really decent profits come in after FOMC As long as price stays In the range So I like having calendar Exposure going into FOMC Well my little Rick Renner is working My PM iron condor needs a little pullback Now straight at 7.30 my stop's at 30.10 After being reduced 5 minutes till tronche 2 You get a straddle Tronche 2 straddle That may be inverted That's not where it shakes out here It's right in between the strikes We're at 0.52% So now we are in update territory Alright I'm going to turn on my Tronche 2 update bot With one lot Just for a little something to do It's real close So I'm not sure Trade steward uses the open Slightly after the real open So it may not fire But I'll turn it on for one lot Just in case LaSosa with super low premiums Does that impact my thinking Regarding size for FOMC No No Doesn't The only thing I would maybe do With a surprise Because it'll be most likely Cheaper maybe We'll see It's only pricing in a 30 point Expected move Between now and the end of day Tomorrow Hopefully drum comes out with a surprise rate hike That'd be nice I have day 46-42 NASDAQ the strongest Up 110 NASDAQ is at 81% year to date SPX is at 21% Year to date Alright Tronche 2 is coming in Filled at 11-20 And that was on the It went inverted 45 puts 40 calls A little bullish Drunken straddle My 1-3 is up Over 7% My 1-2 is up over 6% now My 6-7 And a half percent Those calendars are liking this move With all the tillies Starting to pop up a little bit Hit a low of 11.81 Is it 11.97 I don't think I'll do my Wednesday 2-5 DTE double calendar Tomorrow That would come on after After the Basically during the FOMC press conference Think I'm going to pass on that one My time fly that I put on With the diagonal All at the same time Is now above my all strike Got no risk to the upside on that one The other one I adjusted today By adding another diagonal Sitting in the middle of my double diagonal Put on a new ES hedgehog today Gold hedgehogs up a little bit MES short strangles up a little bit Getting close to 50% On the put side Not quite there That's tiny profit Benoit Do me a favor use the zero live chat channel I need to turn off the zoom chat here No worries First timer I get it Yeah, so for power hour I do use Trade steward a bot But premiums are just so low That I'm not really trading today I did put on a Trunch 2 just something to do With a one lot You can find the If you go to the zero If you go to the trade plans channel You'll see the You'll see exactly how I execute those Based on different Parameters so today I just did a 2 to 1 Puts the calls Got in the 40 It ended up going inverted So I got the 4645 puts 4640 calls Just to do Just to have a little bit of a bullish Position on here My PM iron condor needs a little pullback Trunch 3 would go on in a few minutes See if we got there I'll do a little tiny trunch 3 as well I'll do a 2 lot On my trunch 3 Trunch 3 up a day Vix has been kind of Steadily climbing here for the last 20 minutes 30 minutes Back above 12 Trunch 2 trying to Creep into the sweet spot Trunch 3 will start coming in In about 30 seconds Looks like it could be a 5 wide Strangle Here it comes Filled at 305 45 calls 40 puts 5 wide 2 to 1 4645 The sweet spot between trunch 2 and 3 My little Rick runners up about 500 Got a max upside profit of 1200 It gets above 4650 What else my friends? What else? Anything else on your mind? Any other gaps we can fill in for you? Bitcoins on a little pullback After that Quick rally Big move down in oil New recent lows in oil Gold still falling after it Hit all time highs Last time we saw the Vix this low As for COVID There's January of 2020 Hit a low In April Of 2019 Of 11.03 Big movers on individual stocks Oracle had earnings down 12% Lucid down 8.5 Macy's had that big pop It's down 8% Tomorrow Hopefully you sold your Macy's Beyond meat up 6.5 Early indication for market on close and balance 280 million sell side Meta up 2.5% AMD up over 2.5% NVIDIA up almost 2% Semiconductors up 1% GDX down 2.5% Oil down 2% Retail down 1% Retail down 1% Sorry guys I was wondering why nobody was chatting I had my screen scrolled up Let's see Let me catch up here Yeah, my Rick runner is doing good Just gonna go ahead and let that run Trading naked 14% See what you're looking at Well that's on the zero day So that's today tomorrow where it says 15.02% That's the monthly implied volatility The plus or minus 29.74 Is the expected move Futures trades I did take a couple Had a loser in The British pound A loser in the notes And then a winner in Bitcoin and a winner in gold I'm still in gold in Bitcoin So net net I'm down Like 600 today Benoit Which channel can I find zero DTE So we don't post those Because they're not trades that you can Like copy We stream live and I just Show you exactly what I'm doing But if you look in the Zero trade plans channel What you'll see is you'll see exactly All the criteria I used to To trade power And all my other strategies And each one's accompanied With the option omega back test Link so it shows you all the Detailed criteria Those are the FOMC straddle Or strangle 30 delta strangle That goes on about 5 minutes After the press conference starts Don't look now, but we're getting a 3-point pullback Yeah, so Benoit just to kind of Continue on that So the idea is to Learn and understand The strategies and then kind of Build out how you would trade it For your own trade plan with your own position Size and things like that Extreme every day just so you can help fill in the gaps You can watch exactly how I do it But I don't I've We don't post the trades because I don't want people Trying to copy it, it moves too fast It's just trying to copy trades It's just not the way to be successful SPX 46-43 My PM iron condor is just Slightly green Right, Mauro Big spiky, big spike in vix 25 cents Yeah, that's pretty normal I would say that's That's what I anticipate anyway, Mauro I would say more vol Pretty Pretty steady, not necessarily expanding much And then Volatility after Unless there's a surprise I would say that's what happens My 1-3 is at Over 9% I may have to take some of that off by the end of the day Put in order to close 3 of 5 At 11-25 Let's see if that hits I haven't looked at that as a percentage Andrew Kay, but Something I'll do towards the end of the year I did just I did just contact Toss And get my commissions reduced from I was at 40 cents I thought I was lower, but I was at 40 cents a contract I tried to get them down to 30 35 No, that's just the Oh, I got filled on my 1-3 that's posted Yeah, no trade scout, that's just the That's just the commission Doesn't include exchange fees The exchange fees As I'm Aware of can't be negotiated But I could be wrong So what are the exchange fees on SPX Like 30 32 cents So 87 cents I think If you've been trade If you've been trading As long as you have I would All you got to do is ask They may say no Here's what They're going to ask you Because they can see your volume Right They can see how much you trade But they're going to ask you What option per Contract rates are you requesting They're going to ask you If you trade Any If you trade any outside of TD I've had I've had I've had some just take my word for it And I've had sometimes a rep will Ask for a recent statement To verify what you're doing Outside of TD They'll ask you Specifically about index contracts Like SPX versus equity You know how many of those you trade They obviously have all you trade in TD But they want to know what you do outside If there is any And then they'll they want to know if you're looking to Consolidate any outside assets So what I always say is Is that I Yeah, I'm considering Depending on I'm looking at I always say I'm evaluating And considering Consolidating assets And Here's what I do Because I am, I mean I may move some to trade here If they start, so I'm always looking to Consolidate or move money So I'm not lying But They want to know if there's other outside assets And What you're trading outside If they can get a piece of it They want to know if they can get a piece of it Andrew Kay, yeah, you got to get that down You shouldn't be paying 50 cents, I don't think Yeah, anything that you can say to them That Yeah, maybe you don't have Maybe you're not trading another account But you have more assets and cash That you're going to be moving in Anything like that You want to tell them Request a reduction every Three months maybe Could be wrong on that I want to kind of pull back to the expected move Area So my two little power hour tranches Are slightly green My PM iron condor is slightly green My tranche 3 is at 27% Maybe I'll trail that stop a little bit Yeah, just Buy a, buy an option And hit confirm and send And it'll show you what you're paying Oh, aggregate It's on the monitor tab somewhere Yeah, I wanted to request Make another request before the Schwab Took over, I wasn't sure How they treat it 2.3 billion Sell-side So jumped up I've heard of people getting lower rates with Tasty But yeah, it's a pretty significant volume Before they'd even consider it I'm going to go ahead and close my RIC Close my last RIC at 1050 Alright, 7 minutes to go Nome, Gardis, La Miente Sorry if I butchered that I haven't been transferred over to Schwab yet But they, I would assume It shouldn't be that big of a deal to get you Permissions to trade Option spreads Have you already applied and they denied you? Dark Avenger, I'll close them near the open Like I always do Tomorrow, I just closed part of my 1.3 So it's already up over 10% My 6.7 is up almost 15% My 1.2 is also up 8.5 Alright, 5.0 I'm going to close out my PM Not bounced on me Because I'm going to scratch Or take a Maybe even a small loss on my PM now Oh, it's bouncing Not what I wanted Alright, filled at 25.75 On my PM My Trunch 2 and 3 are nice I'll let them ride 45 is the sweet spot Anywhere above 40 is fine 3 minutes to go We can get a little push up here into the close My Trunch 3 is up 95% Trunch 2 is up 31 28 Ended up taking a $660 loss on my PM That little push up Ended up taking me from A profit to a loss A little mark up on the close A little over a minute I think there's a communication issue going on In the chat right now Bianca speaking German Elliot speaking the Queen's English Alright, getting a little bump 15 seconds Get up to 45 Trunch 3 shows 100% Profit Ding Ding Ding 46 3.73 Alright, so a little over a thousand bucks On my two power hour tranches Minus 660 on my PM iron condor Plus 2580 So on my bot trades A little over 3k on the day Plus my RIC Whatever that scratched out Maybe 800 to a thousand And actually my Trunch 2 and 3 Together we'll net About A little over 1100 Alright, winner winner Even in low premiums baby Let's go Alright, so reminder tomorrow Chat will be streaming at the open And then I will be streaming During FOMC So starting at about 1245 PM central And so we'll stream for a while During FOMC And then no power hour tomorrow Alright all, take care, have a good night Talk to you soon