 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 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 our lives 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 play Hey everyone, welcome to Power Hour Live, Monday, December 11th S&P up 13.5, NASDAQ up 128 Russell up 6, Dow up 113 Gold down about a percent, silver down about a half percent Bonds flat, notes slightly green, tenure yield slightly red Oil slightly green, natty gas was down 10% Now just down a little less than 6 Grains moving today, soybeans up 2.5, wheat down 3.5 Corn a little bit red, Euro and the pound slightly green And Bitcoin down almost 9%, back below 40,000 Or slightly above 40,000 VIX, 12.7 So, low premiums At the money straddle will be around 5 5 and change So I'm going to go no go on Tronch 1 at least I'll make a decision if I want to do a minimal trade size Potentially on 2 or 3, but I'm not going to trade anything for Tronch 1 Had a really good day going earlier I was very close to getting filled on my AM iron condor Was up over 5,000 on it this morning And then it didn't hit and of course the market ran higher Now it's down about 3,600 Got close to getting stopped out, still hanging in there My early quiet lunch is down a little bit My regular quiet lunch is up 22% With a profit target of 50 I've got a re-entry on Got a profit target of 50, it's up 27 Got an APM iron condor It's up a little bit Booked profits on my JSP, booked profits on one of my re-entries I closed out my AM945 trade at 30% profit Just before the bond auction I had too much exposure on So I just wanted to reduce size, so those got cut So still up on the day, but was up a lot more So I'll just leave those positions on, no Tronch 1 And decide if I want to do anything for Tronch 2 or 3 It is an up day SPX is currently at 0.54% from the open I also took a discretionary RIC that I scaled out of I've still got one contract left That one was profitable My last little runner holding to see if we get any more upside I just put on a new TGIF with a 3 to 2 ratio in favor of the calls I forgot to put on my 3.4 DTE this morning But I did put on a 1.2, it's up almost 2% I've got a 4.7 from Friday that's up about 6% And my 6.7 is up about 12 or 13% Rilled down some calls in our gold strangle As gold has continued coming down off of it's all time highs Got a short strangle in MES that's up a little bit Put on a short strangle in Natty Gas with Volatility spiking in Natty, sold some premium there My morning iron condor, I mean it could Needs down at least 46.15 to at least see some green Still hope, there's still hope my friends So some of you guys got your profit targets hit on the morning trade I was oh so close So a tronch one would have been entered had I been trading it Inverted of course Just a couple little futures trades today Took one in on the notes I was trying to get I basically got filled on a half position In notes Got that little run up I was trying to get filled on the other half But it ran away So about $370 winner there so far Then I'm also long a tiny position in MES Instead of Just want to get bullish since we were up Kind of short squeeze territory And that's all for me for today So zero DTE I'm still up I mean I'm up $3,700 Plus my Rick so that's another Call it $1,500 so I'm up over $5K But I was looking to have a really nice day I was up over $10K on my zero DTE at one point this morning Right around in this area Before we started grinding and pushing higher Oh yeah I saw Macy's, Macy's pop big today What's going on with them Macy's up 20% no earnings or anything Yeah trading naked I posted earlier It was a totally discretionary Rick right before the bond auction Oh Macy's getting bought out My quiet lunch is at 35% Profit target at 50 so a little more A little more on my quiet lunch Would hit a little bit to the downside Yeah bumblebee so a real short squeeze Is like what happened with GameStop It's where you got people that are short And all of a sudden for whatever reason the price gets pushed up Causes the shorts to have to cover Which when you cover shorts essentially you're buying Right and so it just perpetuates and squeezes the stock higher That's what a real short squeeze is When it comes to you know like Tim Tim Weiss just named one of his zero DTE strategies A short squeeze and that just he just named it that Because it was the qualification was the S&P was up at least a half percent It's not in any way related to a real short squeeze It was just kind of something that he named it to You know because that's kind of what worked with him and his mind Essentially because he found in his testing that if it's once S&P is up Half percent at a certain time it usually kind of stays Up or moves higher By the way I just watched that movie Dumb Money this weekend About the GameStop deal I had read the book It's called it's by Ben Mezrak The Anti-Social Network So the movie is kind of based off that book as well It's pretty good pretty entertaining Oracle earnings today Have that on my watch list let's see Oracle earnings 1211 aftermarket close yep Other big movers today Bitcoin getting hit so Bitcoin related stocks down, riot down 12 percent Coin based down six Metas down two Googles down one and a half Nvidia down one and a half Tesla down one and a half Amazon down one and a half Microsoft down one SPX getting a little down move My AM iron condor getting close to getting back in the green My quiet lunch getting close to hitting 50 percent And it just did So that's nice nice little down move I'll take it that was good for 2800 One of my re-entries is at 41 percent I need 50 percent on that one to close out See my re-entry is on the 15 straddle So if it can come down a little bit more that'll hit My AM ratio is down at the 4605 call so That one's got a ways before that one Gets any real meat to it That was a rough one PT I was there I was saying earlier on the morning stream I want to blame the refs but I always tell my kids You can't do that There's something we could have done to Take the refs out of it but The whole stadium was well yelling Ref you suck ref you suck That would be American football tomorrow SPX currently at 0.52 percent from the open He's still in up day territory Good one Muga that's hilarious Yeah he was definitely offside It's not like that but it's funny Elliot are you talking about the real squid game Or the challenge Okay don't tell me what happened I'm watching the final episode tonight Don't tell me don't say it don't spoil it I've been waiting to watch it with my kids They've only got a free night tonight So we're watching it Counts back up That's what my 12 year old said Dad why are they crying It's a game A lot of crying going on in that show Oh come on SPX just a little lowers All I needed That's what you did to me earlier Tranche 2 would be in about 6 minutes here Where are we at Pretty bad Pretty pretty bad Tranche 2 update Tranche 2 update Let's see where things shake out here I may do a couple of lots Is that American thing Elliot Only the Americans cried There was a good showing of Brits hanging in there till the end Yeah Dark Avenger a lot of times after FOMC Assuming price stays in the range Those TGIF double calendars Pay pretty well so I just wanted to get some more on I'll be taking off my one two My four seven tomorrow My six seven tomorrow so Just wanted to have some calendar exposure there Or I'm sorry my six seven comes off Wednesday But comes off before FOMC Alright Tranche 2 I'm gonna go ahead and do My normal position size is seven I'm gonna go ahead and do it two lot Yeah the Brits cry they just don't They don't have tears They don't have souls so Nothing comes out I mean they tried to tax us Took all the Prisoners over to Australia I mean they're just they have no souls Tranche 2 is going to be Potentially inverted isn't it Unless we get closer to a strike Come on down to 15s It's nice and toasty and warm down here I mean they don't even get Ted Lasso Jokes I don't know what's going on over there Across the pond SPX currently at the 18s There we go coming back down a little bit Our re-entry is at 42% Need it down just a little bit more I watched some of the Back I watched some of that documentary Of Ryan Reynolds and the other guy Buying that Soccer franchise What was it again That was kind of cool Yeah rex them that's right That was interesting Kind of started to get slow I didn't Finish it I was hoping for more Ryan Ryan Reynolds in the documentary I tell you what trade steward They announced it and it's kind of cool They've got the You've got the bot logs that you can check out To see all activity But they've also got this feed over here on the left now That's pretty cool Like I just said Tranche 2 update Bot was enabled by the user And then It'll flash something when it's getting ready to fill Tranche 2 should be coming in Shortly Oh no it was found to be outside The bot's parameter so it's not going to go Alright well that's I'm not going to force a trade here They use the open Slightly after the actual open To get the The data for the bot purposes and so it must have Been Slightly less than 0.5% higher When price moved down there So I'm just going to pass Yeah it's 0.56 from the open But trade steward Uses like 5 seconds after the open Or something like that they have to For their To get the data they need For whatever reason so It might have been a little bit It'll be slightly off when you look at something like that So no Tranche 2 for me I was going to go inverted which I wasn't thrilled about anyway And SPX bouncing back up Towards highs of day So hoping for a little more pullback Still have some Early quiet lunches I need to get out of My AM iron condor is a few bucks away from getting Stopped but a down move Could still get in the green on that one My reentry was close to exit I needed a little bit more down move as well PM iron condor is doing good 46-15 Clothes would be ideal Still book some profits on my AM That would allow basically everything To hit It didn't Fit the criteria It wasn't up enough From the calculated Open that Trade steward uses So essentially we popped up at the open And so the open That trade steward uses was a little bit higher Than the actual open Yeah well with low premiums What I've been doing is just Right before power hour I'll turn them on Because I'm changing the position size Because I wasn't going to do my normal position size I reduced it And just turned on my update So yeah technically If I just had them on it would have traded The normal day version I just haven't wanted to trade my normal size With these low premiums So I've just been kind of keeping them off Right up until Entry time Because I don't want to forget and leave them on As a full position size when I wasn't Intending to Alright my reentry back to 42% profit Just a little more down That one should hit 50 Trunch three Looks like we'll get a straddle there So the trunch three I'll go ahead and turn Turn those on for Normal day one lot Or update Two lots So I'll try to get Filled on a tiny trunch three Yep that's where I That's exactly where I do it And that way I just Flip them back After the power hour is over Keeps teasing Keeps teasing me with a little down move And there's trunch three Got in on the 20 straddle Two to one So it did qualify on the update for that one Went to that little bounce up So trunch three filled at 5.10 Been pretty tight shop zone here for the last Couple hours My am ratio is trading at 29.25 My stop's at 33.20 So any Much of a new high of day that one will get stopped And there's my One of my reentries hit 50% So that's good 32 minutes to go 7's bouncing around 12% profit Not quite to the 20% To take some off My 4 7's at about 4 to 5% But look at all my remaining Zero DTE together Looks like this 586 million buy side That's the early indication My quiet lunch is getting back In the green My am ratio is only down 1800 now Quiet lunch is slightly green PM iron condor Like it higher Trunch three needs it higher Is it your birthday tomorrow? Happy birthday Here's your cupcake Opt for $1.63 tomorrow Cake after climbing Trunch three trading at 7.70 Stop's at 10.10 See my trunch three Up day Is a trailing stop Yeah we already got through that naughty dog Thank you I've already worked through my issues On that Back to my therapist about that It's dealt with Am ratios trying to get back in the green Anyone else still holding their am ratio? I know some of you guys Hit your profit targets Nice Yeah I think I saw mine get My am ratio get up to like 43 Or 45% profit Just never hit that 50 Before it ran away That is one thing about trade steward I would have hit mine too had I manually entered Because I'm able to enter faster It doesn't start trying to get filled Until one minute after the market opens So that little 30 seconds is the difference Today anyway But can work both ways Yeah the positives definitely outweigh Negatives Yeah so you're right like if I would have been adjusting To get filled if I didn't get filled and I was trying to adjust You know maybe it would have got filled Quicker than I would have anyway so You just never know All good just happens My hand SPX trying to bounce back up Lower 20 minutes to go My PM iron condors at 52% Trying to 3 is up 18 But my am ratio Is my biggest position So that one Does not like the up move Tommy DeVito still living in his mom's basement She's still making his bed He's pretty proud of it though He wasn't shy about it Pte your jersey guy though right I thought jersey was more Jets fans Out of New York okay For some reason I was thinking jersey Okay that's what it is SPX Trying to get the new high of day My am ratio is trading at almost 31 stops at A little over 33 Maybe still have a Rick runner Going New highs of day I have a target on my last Rick at 12 Yeah Naughty Dog that's one way to do it I typically don't do it based on Delta But yeah if that's Kind of the way that you prefer Nothing wrong with that either If you look at the updated Lesson With the longer duration ones that I do I'm doing it more based on If the put or the call reaches 50% of max profit Which you could use Delta from that perspective too That'd be Kind of similar I used to do it yeah when it Touched or breached the The break even or the One of the strikes but I've started more doing it based on The profit target of the put Or the call side It's less than number 11 Short strangle variations Still at 586 million to the buy Side for the third early indication In five minutes The real ones out In five minutes 14 minutes to the bell My only power hour trunch three Is up a little bit I got a straddle I'm on the 20 straddle for trunch three My PM iron condor up 54% If we get another push up I'm going to close out my PM iron condor We hit a high today Of 4620.84 So we pushed above the July high Guys going back to Then going back to March end of March of last year We hit a high of 4637 On March 29th Would be the next Kind of high point SPX up over 20% year to date 586 million Wait 1.9 billion sell side On the final number A little jump and flip Not much reaction yet Not much of a move On a 1.9 billion sell side number Still pretty small In the grand scheme of things All winners today All winners in power hour for trunch three So far All 483 Profit right now Night PT Nice Frank My AM ratio Close to getting stopped I'll give that thing a couple more minutes and just close it My PM iron condor is at 73% I'm going to close my AM Take it on the chin My Early quiet lunch My regular quiet lunch was a winner But I'm going to close out my early ones For small losers That one Trunch three is up 55% I'm going to close my PM iron condor It's close to 75% That one closed at 210% All I have left is my trunch three And my rick runner Oh my rick just hit 12% Oh why not Take trunch three to the bell See if it wants to settle back in it 4620 Two and a half minutes to go So it took a $5900 hit On my AM ratio That was a $10,000 swing It was up 5k Plus 1100 Almost 1200 on my JSP's Plus 980 on a reentry Plus 8 Almost 1700 on my 945 Minus 1200 on my Early lunch Plus 2800 on my other quiet lunch That was a mistake Scratch Another 50% reentry for 985 Plus 2600 on my PM Up day Trunch three Plus Still up 3400 Plus another 1800 on my rick Still green Not as green as it once was But that's fine I'll take it I did one reentry About 40 minutes after the market opened Then I added another one After the After the bond auction So just a couple little Couple little ones SPX still pushing 4623 40 seconds to go I'd prefer a settle into 4620 pin 15 seconds There is the bell 4622 And change Nice little markdown So Trunch three will end up Being a $1300 winner Take it Alright my friends Let's see On the live stream schedule Tomorrow is the 12th So Chad will be streaming live at the market open I will be streaming For power hour And then Wednesday Chad will be streaming in the morning And no power hour But we will be streaming live during FOMC Alright I'll have a good night And I'll see you there Talk to you soon