 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 gamble, 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 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 for September 6th, Wednesday, September 6th Well, yesterday was immaculate Today was, how do I say this? Fucking terrible But, yeah, so yesterday was awesome Today I've given back a lot of what I got yesterday But, we still have Power Hour my friends I've also got, so I lost on my AM ratio Lost on my duck, lost on my DKS First, Dick K's special loser I do have, I still have on my PM iron condor And it's a little bit of a move lower Instead of between the PMIC and Power Hour Could still come out okay We'll see Well, I think Dick K was traveling today So I think he put on some stuff But probably not as heavy as he would have otherwise Time flies have done good I'll take off a couple winners One of which we put on today and took off today I need to buy some longs here for Power Hour Yeah, today would have been a great travel day But old SPX, it just came out of the gate red And had a couple of bounces It's been bouncing a little bit now since noon, central That's when it hit the bottom But still down about three quarters of a percent Nasdaq down almost one percent Russell the least weak down less than half percent And then Dow down about a half percent Gold and silver both weak, notes and bonds mixed Euro and pound, not too much action Grains higher, Bitcoin pretty flat And VIX is up about three and a half percent Was up quite a bit more Got back up over 15, now it's back down to 14 and a half With all this down movement Hoping for some nice juicy premiums But we got a straddle, my friends Just a raggedy old at-the-money straddle for Power Hour That's right, I like the silver lining Nothing negativity out of me Like the 44.65 straddle That's a good straddle As far as straddles go, it's over four bucks on each side 44.65 straddle Trunch one straddle 10 8.40 Fill the 8.40 for Trunch One 44.65 Anybody else in the PM iron condor? The only filter I have for that on Wednesdays is gaps So it hit the criteria So I went ahead with it You got a PM, Frank B, nice My 1.2 DTE bed and breakfast Trade is up about 400 bucks From a few hours ago Let's see what did I put that on at Yeah, I did the wrong strikes to begin with But I got in at 7.95 Looks like it's currently trading at 8.35ish Also got a TGIF That's down a little bit We'll take that one off tomorrow Hopefully we can squeeze a profit out of that one We've also got a double calendar in NDX Started off as a single That one's up about 600ish Come off tomorrow as well at 1 DTE Alright, so for Trunch One I got in at 8.40 So I'm looking for 5.05 to reduce my stop On Trunch One Man, I had to take a little nap before power hour today Power nap before power hour I was hurting So my youngest son, he's a cross-country runner He sends me a text last night He said, hey dad, you want to run in this 5K with me this weekend Well, I haven't really run a 5K in a while 3.2 miles So as I got up this morning, I was like, yeah, we're on I was like, I better do this a couple of times before the actual race So I ran my 3.2 this morning The old body didn't really appreciate it And all day I've just I thought it was a run, but then all day I've had this like Aki body ache feeling Just like worn out I thought I had COVID, I took a COVID test I'm good there So you guys don't have to worry about the COVID coming through the airwaves But, yeah, that nap did me good You're a referee, Maro? Napping was a standard training Are you talking football? Or real man's football? Gotcha My oldest son is a freshman this year And he just made the JV soccer team for His high school Pretty pumped about that, had his first game last night But it got rained out The last half of it got shut down Yeah, I've gotten back into fairly decent shape But more lifting and like cardio So running is, you know, obviously Different muscles If you're not used to it You're gonna feel it And I felt it But at least I know I can finish now I can make a complete fool of myself with the race I used to run quite a bit Even as recent as last November I did a half marathon As soon as I was done with that I kind of shut it down on the running We're here, this is what we do We put on positions We've got a lot of dead times We talk about whatever you want So if anybody has any questions or comments Feel free to post in the Zero Live chat You know that climbing, man That takes some serious hand strength We've just got a local little indoor Climbing place here that we've gone to a few times And man, that is tough on the hands Some serious hand strength One good news about the price action this morning Is we never got a push up after the open So it kept me out of the just sell puts Here's the downside expected move for the day 44.70, they got as low as 44.42 So for my PM iron condor I am looking for 40% Which would be at $12 And that's currently trading at $14.90 So I need a few more bucks to come out of that Well now you're telling me Trader AL It's a little too late for that now Where were you when it was time Getting a little down move out of center Down below 45.59 Look at Apple Apple's still fugly No uptick, no bounce out of Apple Down 4% They have a new iPhone coming out soon Was that today? The market didn't take it well or what? I don't know when the release of is that Of the new iPhone 15 But I heard, I remember hearing something recently about it coming Trunch one is going to need a little bounce Trunch one trading over 10 bucks stops at $12.40 Trader AL, I haven't looked at your test But all you gotta do is there's a toggle That says early exit And you can put in the time So here it is, I'll bring it on the screen So if you go to new back test Whoa, five to one Five to one calls to puts Interesting Use early exit 415 Oh, 315 central Yeah, that's after the market closes How about 355 Central, eastern Doesn't look like it did anything Looks exactly the same as the original No, I think I know what I did I closed it at the end of zero DTE You're saying close it At the end of one DTE Let's try that Oh, it's actually worse Yeah, I'm not sure there Didn't seem to do what you thought it would All right, SPX trading at 4457 Five minutes till Trunch two My PM iron condor is liking this little move lower Need to buy some longs for Trunch two Looks like it could be 4460 straddle Or we could get five wide See where this trades over the next few minutes Getting a little bounce back to 4460 Still looks like it could be a 4460 straddle potentially We keep pushing up, could be a 6560 Another minute or so It comes down a little bit It'll be the 4460 straddle If it pushes up, it'll be the 4465 4465 point strangle All right, I'm going to go with the 4460 It looks like 4460 straddle trying to get filled at 725 Filled at 725 4460 straddle Now it's pushed up a little bit 4465 would be a little closer to three All right, so we've got filled at 725 725 So 435 is what I'm looking for on Trunch two To reduce stop 505 on Trunch one, 435 on Trunch two Price continuing its little bounce Got a short strangle in the euro that we rolled calls down in today Got a hedgehog in oil It's up a little bit Take that off by the end of the week Got a hedgehog in ES Hasn't moved much since we put that on gold We've got a reverse hedgehog We're up a few hundred on MES, we added a we've got a short strangle We're not quite to profit target after adjustments on that one But getting close I think if I can get out for 44 ish Yeah, we're at 52 so Getting there And then we added a new one Nasdaq, we've got a little hedgehog that'll come off by the end of this week It's up a few hundred QQQ, we put on a new duck today SPX, we took off a couple of time flies And we added another one I've still got this, I did a little video on a reverse time fly Still got on it Certainly I talked about kind of the The slope of the T-Zero line to both the upside and the downside So whereas our normal time fly we booked profits This one is actually down a little bit It had a calendar to the downside That putzki that you get with the flies That was so nice There's another silver lining buga That reminds me I haven't heard back from my CPA I had to file an extension as well this year which I hate doing I had to do it because I got to have an interest in this And company that had an issue with K1 And as I'm sure you're familiar K1's never seemed to come out on time Now we seem to delay things Coming back up for Trunch 1 A few minutes before we enter Trunch 3 By some longs for Trunch 3 So if we hold here it looks like it'll be the 44.65 44.60 Strangle for Trunch 3 Go ahead and get my Trunch 1 charted It's down to 6.60 I'm looking for 5.05 to reduce stop on Trunch 1 This thing keeps climbing It could be a Potentially a 10 wide Give it another minute It comes down a little bit It'll be the 65.60s But it looks like it's going to be the 70.60s 70.60s Trunch 3 10 wide 14 Filled at 265 Filled at 265 for Trunch 3 Low premiums but 10 wide That's pretty centered I'll see I'll let Trunch 3 ride To the bell I forgot to put that in my written plan But part of my intention for September Was to let one of my Trunches go to the bell If it was in good position So a little bit of a discretionary call on my part But 10 wide And it's got to be a strangle So if Trunch 3 Looks like it's in decent position to pin My PM Still looking for $12 It's currently trading a little over 14 Trunch 1 trading at 640 I'm looking for 505 Trunch 1 with the 65 Straddle Trunch 2 I'm looking for 435 To reduce stop And I just got out of hit 40% On my PM So I need to reduce my stop From 12 down to 6 Look at that first zero DTE winner of the day Only took all day Only took all day But I'll take it So where I was going before I got rudely interrupted By that profit target Was Trunch 2 Let's see Trading at 640 I need 430 So that's a little ways away Nice Frank D Alright 4460 is my sweetest Of sweet spots 60 to 65 is just fine That includes my PM PM trade Yeah I've got my PM trade Mixed in here as well Which has a 4455 put in it I haven't had any problems Closing trades are on What kind of trade is it One of these power hours Feel free to post a screenshot Keep in mind if one of your strikes is way out of the money It doesn't have a bid that's probably the issue When I say way out of the money It doesn't really have to be that far out of the money because There's no bids At 4485 On the call side And 4440 on the Put side Yeah most likely you just need to close the shorts If those are your short options I would just close those If you're trying to close the entire iron condor The longs are going to have zero bid Is why it's not filling Yes sir Still 27 minutes to go I thought we were about done I need another nap Good Ron That worked for ya SPX up to 4464 Tronch 1 trading down to 530 510 Getting close to reducing my stop On Tronch 1 from 4 to 3 That's 505 flash Yep so I'm going to reduce my stop To 805 If I could do some math today Up to 4465 NASDAQ still down over 1% Not getting quite the bounce SPX is getting Russell's only down a third of a percent Dow's down a half percent NASDAQ staying a little weaker than the rest Russell got Hit pretty good yesterday He's down over 2% Quite a reversal in bics Just on that little bounce I was looking at VXX but I like to see the volatility based on The indicator The IV indicator See that the Volatility on Volatility to be higher You can see it's On the 21 day it's still below 50 Annual Still below 50 so I like to see that Spiking as well as the price of VXX To put on a Vertical It's $3 over the current price So I was waiting for price to get down to 505 so I would adjust it to 805 Done in the back test as well Says something to the effect of Based on the current price I knew it was coming Wuga You and I were right here buddy You know I know it's coming out of your mouth If we can just chop around in a little 5 point range Between here and a little bit lower 20 minutes 19 minutes Till the bell What else my friends What else you guys want to talk about Power hour and cold plunges Both can get your blood pumping A little bit put you into fight or flight How's your daughter I've I don't know if you're on here I was talking about Cold plunges one day I thought about I thought about getting one But then I just took a cold shower And I was like no no I don't think so 23 everybody He does it it swears by it man Which I could see Basically if you do it if you do a cold Plunge every morning when you wake up Basically there's nothing else That day That is going to Even seem like it's A big deal right You've already you've already put your Mind and your body through Basically torture So that any little Negative thing what you might can perceive As negative happens throughout the day It's gonna seem like nothing I've heard that too it helps with all different kinds of All different kinds of things Yeah I've heard people getting off of ADHD medicine Anxiety medicine Yeah all that stuff I have not done the cryo chamber Either of There's a It's like a cryo center Not too far from my house but I haven't Haven't tried it There's different levels with those Cold plunges like Some people do it at a nice 52 degrees I know other people who do it They had there's like A little thin layer of ice on top It's like at 32.5 degrees It's hardcore man Hardcore Looks like somebody's trying to use the Zoom chat Dana Hey Dana We are all posting in the Zero live chat channel in discord So if you wouldn't mind Switching over there I usually close the Zoom chat here But to answer your question Yeah it can be done in an IRA A lot of folks trade IRAs We're buying the wings First And then We are selling the shorts And the reason we do that is because Like I just mentioned to Ron You know those The longs Pretty quickly after we put them on I mean look at all these That are going to expire worthless with no bid So from that from after entry We're really just managing the shorts So my OCO orders and everything else Is just on the shorts But they are defined risk They are IRA eligible Trader Bianca you're a fair Weather cold plunger Alright so let's see tronch 2 I need 435 It's trading at 570 Tronch 2 I got in That was the 4460 I'm going to go ahead and chart that one To keep it in front of me Can you guys hear a drilling noise in my background? My mic's pretty good About not picking up background noise But it's blaring in my ear In here they're doing some construction on the building Glad you guys can't hear it Alright so I'm going to chart tronch 2 It's trading down to 540 11 and a half minutes Until the bell Yeah you know I don't I don't know that there's a correct answer to that I mean there's some people They're pretty adamant about using mar Some people like the win rate From a psychological standpoint Um So I think it really comes down To preference What's going to give you the most confidence So that one's got a 78 Versus the 97 It's a big difference In win rate although it's only 42 trades So we're talking about 10 8 different winners Mar 45 versus Whoa that's a big difference 45 versus 13 Total P&L is a lot bigger On the high win rate though Even though it's got a lower mar So what's the difference here exactly Your exit conditions Yeah okay Yeah you just need to I think the biggest decision is You need to be okay with the fact that The max loser is going to be big High win rate but when you have a loss It's going to sting So as long as you're cool with that That's kind of That's kind of what I look at Kind of go through the trade log And try to feel the Feel the stingers 9 minutes until the bell 3 bucks My stop loss On tranche 2 needs to be adjusted To 3 to 2 I think right 3 to 2 yeah so from To 635 Trunch 3 70 60 It's kind of on the edge though So I probably won't let that go 60 cents on tranche 3 Go ahead and get out of my PM Go ahead and get out of tranche 2 Out of tranche 2 at 380 and 385 Out of the rest of my PM At 789 and 791 Out of tranche 1 at Oh we got filled on tranche 3 At 60 cents and out of tranche 1 At 345 and I am out Nice winner Beautiful Beautiful ending to the day my friends I'll have to Get everything loaded up to Trader Sink To figure out where I ended up but I may be green for the day Surprisingly Elliott you posted that you got You tipped the scale into the green side By 20 dollars and 50 cents Very nice Alright my friends good stuff Just remember how it used to be Where we'd be down in the morning And then power hour would just come in And clean us up for the day And make a screen Like the old days Kind of Alright my friends take care As far as the live stream Goes I think I'm streaming tomorrow morning Which is the Tomorrow is the 7th Yeah so I will be streaming Tomorrow and Friday at the market Open as well as for power hour The rest of this week Thursday and Friday Alright my friends take care Talk to you soon cheers