 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 then trade it, have success Find what works for you and forget the rest Stats and probabilities is what we're a dismiss green And doubt, focus on the process Not the money and the profits will flow our lives Let's start the show, come on trade hackers Just 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 Thursday, February 8th What a day Oh yeah Right? Oh yeah What do we got here, 87 low, high of 97 Go back to yesterday too Yeah, besides that little Bump in the late morning or mid morning Yeah, it's been in a 10 point range for a day and three quarters And it can stay there, noses So I've got Of course as we all always do as traders We wish we would have had more on, right? But Here's what I've done today So my one DTE iron condor hit 45% That was good for about 3,000 I did the Thursday AM 2-1 That was good for 50%, about 2200 And then in my Other account, I did some re-entries Now that's what a daily P&L curve is supposed to look like, right? Oh yeah That doesn't get much better than that So in this one on the re-entries I hit one closed out for 90% I just ratcheted my stop down I never even took profits until 90% So that was good for 3,000 And then another one It's currently at 84% I've got a profit target at 90% on that one as well And then another re-entry came in And it just got filled not too long ago So just got the one position on And it's this one here It actually took inverted strikes But somewhere between 90 and 95 would work Yeah, as far as power hour today I'm not really interested in adding anymore We're talking about 6 bucks at the money straddle Yeah, I've closed out my 2 AM iron condors I almost had to force the lunchtime number one that I'm in And booked 20% on that So I've got four contracts left And like Steve just said When it's like this I'd almost rather just scale out a little slower Instead of adding a new position when the premiums are so low So I've got four contracts left here I can cut one Cut one more Or cut two than one and one Instead of going two and two We had the third year bond auction And Vick started popping I thought, okay, maybe we're going to get a little something And it was nothing I mean we got one little five minute push-up Right to the top of the range But oh yeah, I do have a Rick on I did that in my tradier account And that one's not doing so hot So that would be my negative for the day Bumblebee? I was just saying on my Rick I just thought, man, we've been in, like we just said We've been in this consolidation for so long At some point we're going to move, right? Yeah, I fully expected it I fully expected it I was looking at my lunchtime I actually skewed it a little bit to the downside Because I fully expected to maybe push up through the highs of day But it never did Bumblebee, the zoom link is in the trade plans Plans channel, I believe Yep, trade plans channel I'll repost it here I just wanted to let everybody get into power hour So they didn't get confused Let's see Yeah, I was really, I was about 20 minutes ago I was looking to maybe add one But when the market moved down here a little bit Because I skewed my lunchtime number one to the downside So it was testing my downside So I was looking at one and I just couldn't get it $5 I almost put one on for like $4.90 honestly But a centered one Chose against it and then it ended up popping up So it was a good, good no trade I'll be interested to see if it does Break highs of day here, you know Hour and five minutes left, so anything can happen Eurytic may come profitable Howdy's just booking profits I'm going to I mean it's a discretionary rick anyway to begin with So I'm probably going to If we get anywhere close to getting some profits I'm at least going to close some out So this is one of my re-entries I'm just waiting, I'm waiting for 90% To close that out, it's currently at about 84 And then this is my, the one I just entered Not too long ago Will the S&P break $5,000? Yeah, $49.99.89 yesterday But for sure we'd blow through that today Mm-hmm, same here Alright, let's take a look around Nasdaq is slightly green Our little buddy Ruddy Look at that little Ruddy go, it's up a percent and a half Dow's flat Gold flat, silver is up Almost 1.5% Notes and bonds are red Ten-year yield up almost 2% Oil up 3.5 Add a gas down 3.5 Soybeans up a half percent Wheat down 2% Corn down a little bit Euro and the pound flat Bitcoin up about 2.5% Vix at 12.87 Kelvin, when you decide not to take Profit targets for today Do you just stop down? Do you adjust it to price? So, yeah, so, you know, I've been kind of testing NTT I've been testing some other bot reentry You know, obviously for those of you who use trade steward They just came out with trailing stops today Or last night and then Another feature of it today So today it was more of testing One thing I'm thinking about doing Kind of starting March 1st Is I'm going to allocate some money to a To one account, you know, I always I trade different strategies in a few different accounts So I've never been able to really compound And so one thing I'm considering doing for March is Leaving one account to only do A specific reentry strategy And then in compounding the position size So that was part of my testing today And so the way that I was doing my reentries today was When I got to 30% profit I wouldn't take any off, but then I would ratchet my stop down So, like, I did a couple different versions I did a 3 to 2 version Puts the calls and I also did a 1 to 1 version And so I was using a fixed stop So my 3 to 2 version It was a $12 stop And then I ratcheted it down to 3 On my 1 to 1 version It was a $6 stop and I ratcheted it down to 2 Once they hit 30% So that's what I did today I wonder if Pricel Sorry, go ahead, Jed I wonder if Pricel just stopped at $5,000 today PayPal down 11% On earnings When you could do a $5,000 straddle right now if you wanted to On the green side, Riot blockchain up 13% Wow, Disney up 12% on earnings Wow, I didn't notice that earlier Just not going to lose my profits during Power Hour right now With this little room for air Firm up 10% Coinbase up 8% Crypto stocks having a day My lunchtime Number 1 is almost dead center Build it 40% Lunchtime number 1 So how many trades did you end up entering today, Jed? 3 And they are both all 3 going to be winners So that's what I'm saying Like I skewed this last one a little bit to the upside You know, it started out to the left of center Which ended up being perfect based on what's happening right now So I got 2 of my 8 contracts left So I'm just going to try Instead of getting out at both of them at 60% Since I'm not entering a new position I'm just going to try to get out of 1 And then I'll see if I can get out of my last one at 80% It's very easy to come into Power Hour when you've been up For the day and have a lot of confidence And you know, you're feeling good And then sometimes you can get a little greedy And you can lose Lose a lot of profits So it should also be part of your risk management When you're thinking about where you're at With your profit loss throughout the day Yeah, traditionally my allocation to position size Has been significantly better for Power Hour than anything else And so for me, I would just It didn't matter Up or down Going to Power Hour doing the same thing Right But yeah, on a discretionary basis If you're especially the way you're doing it You definitely want to decide on that Or have it pre-planned regardless of what happens 5-point range and 20-point wide strikes That was a beautiful thing 3-2 needs a little pullback here So if SPX really wants to accommodate me today What it's going to want to do is just pull back a little bit Let me get out of this one at 90% Wait for this one to at least let me lock in some profits And then give me a big rip through 5,000 To end the day for Rick I mean, you know, since we're asking I'd do it for you Thanks, Chad Anybody new or have questions? Obviously, we got a lot of time here Feel free to post And I just posted in the chat again It's also in the Zero Trade Plans Channel Dr. Chad will be presenting the details Around his methodology of how he's been trading And that is 30 minutes after the bell today And yes, if you can't be there, it will be recorded I ended up so in my brother's account I don't have the same trade on in his that I got In the one in mind that I post the fills in discord But I did take the 5,000 strad on his With 30 points wide 625 That's not the account that I post my screen shots And his account isn't as big as mine So I only did four contracts So 5,000 would be a pin for that one DRB I It's been a while since I looked at that by day of the week From my actual statistics But there was a period Early in 2023 when Thursday was terrible And then there was a period in 2023 when Thursdays were the best And Wednesdays were the worst And Wednesday used to be the best So personally, I don't get to cut up in day of the week Specifically for power hour But I know a lot of people Really tailor their tests more to days of the week But you could certainly run a quick test And in an option I may get a better idea about that Oscar, we can't tell you how to manage your own trades We can just show you what we're doing But it goes both ways You're going to have situations where you wish you would have taken it And it turns into a loser There's going to be situations where you're going to wish you'd let it ride Because you could have held it all the way to expiration So that's really just a personal choice That you've got to kind of work through And if you want to do some testing in Option Omega That's a good way to do it too Is just look at different strategies Or something similar to what you're doing And then look at how that tests out With that position size of doing one contract Of what you could find What might give you the most confidence as far as when to take it off And DRB going back to that comment about days of the week What we do know is that And you can see this by just looking at your platform on Mondays And looking at VIX VIX is nearly always elevated Going into Mondays They pump that premium in over the weekend And so Mondays have traditionally been the best I mean there's no way around it because of that elevated IV Both morning trades, afternoon, power hour, whatever it is Mondays, there's no question have been the best Now Mondays mornings have actually struggled recently And so there is That's definitely a factor for Mondays For me And then today, on Thursday There's a two to one puts to calls that just continues to do really well Back tests all the way back to May of 2022 Over 90% win rate It was the one I took today that was a winner And so I trade it Now is that an anomaly Or is that really a Thursday pattern that will continue We don't know But So One of the, you've probably heard this quote by Van Tharp We're not trading the markets We're trading our beliefs about the markets So it's something that you'll develop over time And you'll decide what kind of filters and criteria you want to use And different, you know, in this community There's a lot of different You know, opinions about that So But, you know Remember, these everyday expiration options have only been around since May of 2022 So the longer we trade them, the more data we'll have The more conclusions we can make about these different things But just going back to May of 2022 There's, you know, that's still not a Especially if you're looking at a trade one day a week Going back that, you know, that's There's a lot of statistical evidence still to be Still to be gathered about that And you know, really, I get people ask me about And I'll talk about this in my presentation But if you're doing like what I'm doing Like, there's no set way of, you know, scaling out You can scale out whatever you feel is best for you I've had people tell me that they do two contracts And they get out at 10% on their first one And then they get out at 25% on their second one You know, so just whatever you feel comfortable with SPX 49.98 Currently trading at the highs of day I'm just betting, betting is gonna stop at 5,000 I'm betting it's gonna go through Yeah, it might. If I was a betting man actually I probably would bet that it would go through it as well I just happen to have a 5,000 straddle You're just talking your book Yeah, and I mean, you know, it's I'm setting two points obviously from a pin right now So it can, you know, if it gets up to 5,000 I'll probably get out of 20% I'm, you know, state is starting to decay now So honestly, if I get out of it Decay's not with us today He had to run I saw he posted So I can't, I can't bet Decay on this one Here he comes He's timing in He must be listening at the doctor's office They got doctors on islands? He couldn't stay away Well, he has his own personal doctor Oh, gosh Yeah In house, on site Doctor, just for him He's got to keep Dick in tip top shape Oh, he's not on the stream He's just seeing the chat Somebody tell Dicky what the bet is Will price stay below or above 5,000 Chopping at 97 Dead center, my, in my account, my last At lunchtime iron condor Dead center is 49.97 That's where it's at right now I hate when Dick and I agree He'll probably come back and say the under Elliot, you still, you still holding your Rick? Waiting for a late day push So what gets you out of the valley? Let's see, I got it in trade here Let me see Looks like I need Above 506 5,006 You know Decay, or you know Decay pretty well I knew it He just wants some action Double or nothing Yeah, he still hasn't I've been bugging him to take advantage of his Barbecue situation, he hasn't done it So Geez That's something you want to take advantage of Alright, double or nothing, Decay You're on, buddy I think he's just doing that to be nice to me So he can get out of getting his barbecue He tried to, he tried to get out of it And I was like, no, no, no I'm sending you barbecue You see what Anne Greed had the chiefs Sent to him in Vegas? No Q39 BBQ just masked Tons of boxes of Q39 BBQ At the airport yesterday He had it sent himself or somebody sent it to him For the team, sent to, for the team Oh, gotcha Currently the probability of the bet is favors Decay There's a 52% probability we End under 5,000 47, 48% Close above Gotta give Dec a little edge I don't know about the bulk discount I'm sure they did for Andy Greed and the chiefs Yeah I didn't know they shipped The only one I thought shipped was the Jack Stack Yeah, I was crazy It was just boxes of Q39 At the airport Somebody snapped a picture of Still waiting on my 90% on this guy 4999 Testing all-time highs almost Apparently the market has come Become immune to the Fed speakers They're like, yeah, yeah, yeah We've heard this over and over Michael Todd, you Took the bait on the ricks for sale? Sorry about that Yeah, they were on clearance for a reason, that's right Tried to get up to all-time highs Didn't quite get there Vicks got down to 12.81 yesterday Currently at 12.87 Still sitting at 83% No, making another run I'm out of 20% of my straddle I did take, I did a I wasn't here for Power Hour yesterday But I did do a Well, I did a discretionary Just a 5,000 straddle Because I thought we were hitting there yesterday Or no Anyway, I ended up getting stopped out of that one Oh yeah, I was on this last little push-down And then I got stopped out And then I pinned my Tronch 3 I launched them manually from my phone So made a little bit yesterday In Power Hour And then my PM iron condor pinned Or hit 90% Wait a second You were at your kids' function yesterday And you were trading Power Hour? Yeah, from my phone Dude, I called it yesterday I said that I said it when I was live Yesterday, I was like Power Hour, I can guarantee it Yeah, I used my trade steward bots And just launched it manually Holy said that I think he chimed in at the beginning Of Power Hour on something I posted, good luck everyone Yeah, yeah, yeah, that's what it was And I was like, he's trading man You know, that Power Hour FOMO, it's a real thing I even did the Fred Flintstone Bet, bet, bet, bet, bet, bet Even though it's not a bet But I like that, you know what I mean Most of these people, most of our members Probably weren't around when the Flintstones were on It was one of my favorites Growing up It's just, you know, Power Hour is just part of me It's just part of my DNA, I don't know what to say I don't make cartoons like they used to Saturday morning cartoons still a thing? And you get them 24-7 now Yeah, it was a special thing To wake up on Saturday morning and be able to Watch them My parents limited me to two hours with the cartoons Then I had to go outside So I had to be very specific about the ones That I wanted to watch Very true, Naughty Dog, very true Trying to remember Smurfs was a big one Yeah, Tom, David and Goliath Remember that one Yeah, Tom and Jerry was a good one Oh, DuckTales, that was after school though I don't think that was the Saturday morning Yeah, Ninja Turtles I was a big fan of those Yeah, you'd have to brush home from school To catch DuckTales 49-99 again Just trying Rick is the only thing that really wants Over 5,000 I don't care if I lose money in my positions Or if I just want to beat Dick K in the bet That's my biggest position right now Scrooge, jumping his money pit 644 million buy side Early indication So in case we've got people on our stand We've got some new people, Steve What exactly does that mean when you say that? Yeah, so the If you go to the ZeroDTE course channel There's a, I put out a little mini course about it Wait, no, where did I put that? Trade plans, maybe Yeah, in the ZeroDTE course channel Yeah, trading the market on close and balance So you can watch that for more details But what happens is All the big money managers Your state streets, Vanguard, Black Rocks Fidelity They all manage Obviously billions, trillions of dollars And if you're contributing to your IRA Your 401k, all that There's inflows and then people Some people are taking money out Those are outflows and so All those firms are required to report What their net inflow or outflow will be At the end of the day And then they have to execute that order In the form of a market on close order Executes as a market order right on the close And so these early indications I don't really know as far as what They just, they have to give kind of an early indication Of what they think their flows will be But then at the 10 minutes until the bell That's the final number that they're held to That they have to execute the order on And so that's why you'll see if there's a big MOC number, you know Over three billion to the sell side Or three billion to the buy side That it'll, that the market will A lot of times move in that last 10 minutes And so that's what that is So what I've been doing is If there's a number that's greater than three billion If it's to the buy side, I will buy futures If it's to the sell side, I'll sell futures And try to catch, you know Quick little, quick little move And then from a power hour Or DTE perspective, you know It's just good to know if you're in a position If there's a big number You're probably going to expect to move in that direction So you may want to consider doing something Especially if you're in a straddle Benji, you always attach longs to your shorts Yeah, I typically have new longs I typically do new longs You know, like a day like today though Where the price hasn't moved Like I could close my longs out Five cents, ten cents When the position was When the shorts were closed Just got filled on 60% Of my Last time, number one So instead of a new position, like I was saying earlier I just took one contract off So instead of, I still now have one left Instead of, so I can try to close this 80% It's sitting dead center, so Anybody do the one DTE today? I think that's the first time I've had one of those Hit the profit target before Power Hour even started Trade Scout Feesh Hey Feesh, thanks for Thanks for that update on portfolio margin Through Schwab too, that's interesting Info, I had not heard that SPX 49.98 Just hovering Waiting to rip Dick K's heart out At the end of the day They call me, I'm gonna say, no No, no, sorry, not doing it Michael Todd, does your account Have portfolio margin Access? If not, it's a Non-factor If you're a standard margin account, it wouldn't apply Yeah, so it wouldn't It's just the way that Schwab looks at portfolio margin accounts For buying power on positions Versus how TD does Yeah, I don't know, Calvin I keep hearing Discrepancies Certain people saying they have Schwab And it Nothing changed, and other people who have Schwab and say it They're treating them like naked options So I don't know, I haven't I haven't been graced with The presence of Being on Schwab yet, so Not sure I don't think there's any update on Schwab They're just Sounds like they All the TD accounts will be transferred over To Schwab by May And Jordan At Trade Steward seems to think That the API will be out before That That's about the Only detail I know All right, this little re-entry Is getting close to my 90%, currently at 88% I'm gonna go ahead and press my bet with Dick K and just go ahead and buy some Two or two into the close Gonna make sure and let him know And this thing is just Hovering near my profit target Not quite hitting Go ahead and close this one Got it at 260 And I still have this one Which I'll let ride Calvin, it's not in discord It was just emailed to those who Registered, but Email Email Landon To support At navigationtrading.com And he can send you the link Calvin, you can also have your friend Book a zoom call with me That as well Back if anybody has anybody interested Learning more about trading Send them my link There's the link To cute pink shirt, Chad You know, that's when I was a principal So I always would Match my ties, my shirts Bands and my socks The Ladies I work My three secretaries always got a Kick out of all that I would actually match my underwear too, but nobody ever saw that Stay tuned on that white tiger We've actually tried a few different Kind of third party Platforms to track that kind of stuff But they were just clunky and I didn't like them so we never We never kicked that out but That's kind of, that's actually coming soon I think I think we've got a solution for that Yeah, it's just really not doing much right now 4998 Yeah, I don't know what Schwab's I need to, I need to talk to Schwab I'm not sure what their Structure is, I've just been kind of holding off Until everything gets cleared up As far as the accounts transition, but Yeah, especially now that there's Vegas, Michelle Especially now that there is Trailing stops You know that, I was A, I was wanting to work through all the Nuances and I was kind of waiting for That to come out and so Yeah, I'm gonna start I probably won't do a class necessarily But I'm gonna I'll do a series of videos That just on different I'll do kind of a high level Overview and then I'll pick out some Specific kind of most Most used Features and Try to hit those and then obviously get Feedback from those of you Who use it and we'll Build a little library of stuff SPX hanging around 97 I just got Got my straddle I had another position on and my Brothers just got filled It's 40% Still at 644 million to the buy side Final numbers out in 5 minutes Yeah, I'm on team 90 95 as well For this one Slowly digging myself out from that Wretched start in February I don't even want to hear about a drawdown From you Chad I've The last two days I've Trapped my red month and I've had So far in half pretty much Nice Theta it's always good Such a great feeling to feel that 20% You hear that 20% ding It's an even better feeling to Feel that 40% ding Vicks new lows of Day Is probably in there sitting down with his doctors Doctors like sir I need you to drop your pants He's like hang on, hang on I gotta check the S&P Coming down 95 Did not like 5000 huh Interesting Two days in a row 5000 rejected it I've seen what 10 minutes Can do 5000 10 in the next 10 minutes 850 million sell side So pretty low number but it did Flip from buy to sell Nice Michael Todd Daily almost 4k Uh oh Uh oh Dick K 5000's a pin for me Don't look now Just filled 40% of my straddle Hey was I why Check the trade plans channel Right below this one you'll see it I've got over 5k And Dick K has under 5k MOC I needed a big I need a bigger MOC number is what I needed I'm not sure if it's going to give it enough gas Settling back into 95s Nice white tiger Nice There you go naughty dog Stick to your guns Trust me it's hard I know That first month I was up 60k Paper trading and I Won another 6 weeks Come on go get me a 10 at 5000 Up in the matters I only have a couple contracts left Just don't think it liked it 5000 I don't know Job Elliot nice job Neil Open at today it opened at Back down below 95 It opened at 49.95 today Here it did Get back up there Is going to settle in the valley it looks like We get a swift move here in the last 5 minutes Nice job theta Well at least I made enough money today To send Dick K BBQ Times 2 5 minutes to go Got a big jump in him Now he wants my beef broth Stopped out of my straddle Darn it on that little down move Vicks cracking new lows As we fade into the close That's it naughty dog I finished Plus 3133 In my Brother's account I'm going to be over 4k In mine Here it goes My straddle would have been nice right now Close my last contract At 50 cents Whatever percent that is That's my That was my lunchtime So I ended the day In my re-entries 1500 1600 3100 On my 1DTE 3000 2200 Nice little day Now if we could just Get a little rip into the close Above 5000 That would just be icing on the cake I forgot about Rick He's done He's toast Vicks fallen 49.95 Right where we started Right where we closed yesterday Right where we opened today We're going to close there We've got one minute Howdy, 6 iron condors all green Very nice 30 seconds I need 3 points in 30 seconds please Wow look at it It would have been my straddle Let's go Let's go Dick K It would have pinned in my straddle Get up there Get up there Close Oh my god It would have pinned my straddle Get up there Oh come on What a tease What a tease I can't win I'm never betting Dick K again Oh my gosh Alright, so Chad 30 minutes from now We'll be presenting his trading strategy I'll repost the link here in the chat in a minute Alright and then live stream tomorrow Tomorrow is the 9th So Chad will be streaming live in the morning and then we'll be back for power hour Alright all Take care for those of you who are joining us with Chad See you in a bit, if not see you in the morning Cheers