 It's the end of the day, 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 And trade it, 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, let's start the show More trade hackers, get ready to go Zero day options, time to make bank Get locked and loaded, then be ready to play What's up everyone, welcome to Power Hour Live Wednesday, December 20th Hope all is well Look at what we have here We've got some red Now down below the expected move for the day Vicks up to almost 13 S&P down 25 We've got probably 10 wide For trance 1, maybe 15 So I'm going to be trading full size Don't necessarily love the price action Coming in hot, but like the premiums So I'm going to follow the plan And let it roll I've got my bots turned on for both a normal day And a down day, in case we get into down day territory S&P, SPX is currently down 0.56% And it's probably actually a little bit less than that As far as trade steward goes So most likely it'll take a normal At least on trance 1 Unless this thing keeps dropping like a rock Hopefully it's getting it out of its system here And then it's going to calm down for Power Hour But we shall see Yeah, I've got some longs that are now worth a buck Long puts Might as well go ahead and sell those Glad you mentioned that SPX down 34 I mean, was it the Bank of Canada Popping off as hell it did it Canadians trying to push this thing lower for us That's the only thing I really saw on the ECB Made some comments Gotta love those Canadians Bumblebee, are you Canadian? If so, thank you Thank you for your service Oh, India, alright, never mind Any Canadians in the house Hopefully you guys can't hear that construction noise In the background It's annoying for me, but as long as you guys can't hear it Looks good Mirage your Canadian Alright Looks like we may get 15 wide Maybe 20 Still a couple minutes before entry Kelvin, you can't hear me Everybody else good on audio? VIX up to 13.48 S&Ps down over 40 Should be in down day territory So my tranche one for down day I've got my time set at We'll start trying to enter it 255 in 30 seconds So here in about a minute Getting a little bounce now So depending on trade steward uses 5 seconds after the open It's open so I may be in normal day territory now Can I mark down on the close? We'll see what my bot does I'm just going to let my bot roll So I'll be trying to enter now Normal day, I think it's a minute difference Yeah, my normal day is 56 minutes and 30 seconds Looks like it got back up into normal day territory for the bots Right on the edge I saw financial juice Bank of Canada just made some comments about Agreed that the risks to the inflation outlook remained And it still may be necessary to increase the policy rate That was right before Alright Tranche one in, I'm on the 47.40 Calls 47.25 So 15 wide And that's a normal day Tranche one Turning I thought Canadians were already communist Got a little bounce coming back down Man, it feels good to be 15 wide, doesn't it? Just feels good Maybe a loser, but feels good My 2-3 I had an order in to close half at 20% Now it's back down to even After that big flush My 1-2 was up About 5% Now it's down about 25% I'm not going to do a duck today But if we get a little follow through tomorrow I did just add a new time fly before we jumped on Nasdaq, slightly the weakest of the bunch Down a full percent Gold slightly red Silver slightly green Notes and bonds green Ten year yield down 1% Oil flat Natty gas down 2% Grains red Euro and the pound a little bit red Bitcoin up 4% VIX up 7% Tranche one I got filled at 7.10 and 7.15 30, I will reduce my stop on Tranche one If we get there First, does your client know that we're 15 wide today? I need to reschedule I mean, have a little consideration Okay, there's a 20 year bond auction Let's see, was that at 12.30? The Bank of Canada meeting minutes Was it 12.30? Oh, yeah, 20 Okay, 20 year bond, was it noon? But, I mean, it traded sideways For 30 minutes Maybe we're just getting a little downside for Because we need it So my Tranche one is trading at 10.15 Stopped at 11.12 So I'm going to need a bounce here Tranche one is going to be toast I'm not closing my B&B now I might consider by end of day Because I don't want it to be just a directional play But I'm going to hold it for now VIX up to 13.57 Nice, naughty dog Still hitting loads of day 47.19 47.18 Should be getting stopped Stopped on Tranche one Alright, so I'm going to wait for Tranche two now That is some red VIX now up 9% VIX futures up 6.5 S&P down 50 now NASDAQ down 200 It's a day like this where I wish my bot Would not have closed my puts On my quiet lunch in my PM iron condor The ones that I closed was a A manual re-entry Kind of a discretionary re-entry trade So that helped a little bit But nice, Dick, hey We have a time fly that I just put on Before power hour It's already Way left of center Started right of center Up there, DS-22 will prop up tomorrow for us Took half of my 3.4 off for 20% It's still green on the rest But not as green SPX still pushing new lows Tranche two will most certainly be My down day version VIX trying to creep to 14 13.84 And a 47.10 S&P down 57 A little bounce off 47.10 Chad, that was mostly from your From your longs, nice Very nice Tranche two here in about four minutes A little bounce from 47.10 Up to 47.24 A little 15 point bounce Looks like 20 wide For Tranche two potentially I'm doing my down day version For Tranche two SPX currently down 0.92% From the open We get a little follow-through Tomorrow I might be able to do some VXX Verticals I'd like to see the The annual IV Get a little at least above 50 The monthly IV percentiles Creeping up to 94 So that's good Tranche two should be coming in here The next few seconds Filled on the 47.30 47.05 25 wide 25 wide for Tranche two It's been a while, my friend Good to see you Mr. 25 wide Got some work to do to make up for Tranche one I was going to do a 25 DTE double calendar But I think I'm going to pass on that Wednesday 25 You made it through getting stopped out on Tranche one, Calvin? Nice Oh, nice Mine was close You got an error in your trade log Meach Where was that posted? Is that in your bot activity? Yeah, I definitely I didn't get that SPX bouncing up to 47.27 VXX back down to 13.23 Who's GeoRoge? Is that his name now? I'm going to start calling him that Tranche two not liking this bounce I stopped at 15 on Tranche two My trading at 13.85 Remember back down there below 47.30 There you go Tranche three down day here in about A little less than five minutes Got a little pullback in VXX off that bounce Below 47.10 currently at 47.28 Did take some futures trades today Book 1200 on soybeans Lost 6.50 on notes Lost 12.90 on gold Lost 4.25 on the Euro so Down about a thousand for the day I have they're surprisingly liquid You got thousands of contracts Of open interest It's closed right now so you're seeing Bit-esque spreads It's a little wide but I've done it before Not something I do on a regular basis By any means Down to 24 Tranche three should be coming in here Shortly Looks like we're going to get the 30s 30s and 15s Oh yeah I'm on $3 $3 strikes Built at 8.25 That was on the 30s and 15s So anywhere between 15 and 30 Is my sweet spot Tranche two is now at 23% So my Tranche two Is actually a trailing stop So I got to trail those Tranche three is also a trailing stop Okay Tranche two I got Filled at 7% I'll reduce my stop on Tranche two at 4.20 Tranche three I got Filled at 8.25 So I'll reduce my stop at 4.95 On Tranche three Tomorrow I thought you weren't trading today What happened? Couldn't hold back It's a good way to look at it Andrew K Back down to 13s Back up to 13.58 Oh I am I need to reduce my stop on Tranche two Down to 3 7.20 So down to 20 cents Reduce stop on Tranche two Tranche two is now at 50% It's 47.05 47.30 Tranche three is at 27% I'm on the 15.30s 7.22 million sell side Heading towards lows of day We have 11.30 Low is 47.10 41 VIX has not gotten back up to highs of day Meach did you figure out what was wrong with your bots? Feel free to send me the link if you want Oh yep I did that once Yeah I bet for you that's really good where you can't necessarily be in front of your computer at certain times No I can't imagine Toss will ever do automated bots The only broker I've heard of looking in to do an automation is Trader As far as good options trading platforms But I'm sure there are ways away New lows 47.08 Prefer to be above 15s VIX isn't moving much Yeah White Tiger if we could preferably get that move overnight tonight That'd be best A little 50 point drop overnight Yeah Bumblebee it's pretty intuitive It's pretty easy So I'll show you an example This is my Monday AM trade So I'm looking for $4 of premium on the shorts So short put $4 It's a 3 to 2 ratio so I'm doing 3 puts 2 calls 0 DTE I want to buy the 5 cent wings up to a max of 80 wide Same thing on the call side Quantity, number of contracts Entry time Days of the week to enter Then there's some other things like Entry speed I use turbo just so If it doesn't get filled right away Just cancels and replaces Every 2 seconds Trade exit I've got a 50% profit target So you set your profit target here Set your stop loss Put the as a dollar amount Your percentage or whatever you want And then Max trades per day 1 That's it So essentially what you'd be doing Is you'd be taking the criteria from Option omega Or whatever your criteria is For your trade And you just Step by step Once you get used to it It literally takes a minute to set one up They don't like Italians Maro Yeah, Bianca, I got stopped on trunch one I did I think if I would have been doing it manually I would have done my down day trade And it sounds like the down days Didn't get stopped But my bot took the normal day So I got stopped No, unfortunately white tiger That was a request of mine And they can't do that Which would have been nice today My puts got sold But I didn't get on any of my bot trades I didn't benefit from those longs Kicking in But I would also imagine over time The fact that it sells them Is going to net you out More positive over time Than letting 5 and 10 cent Bids expire But you hate it when you have a day like this Oh yeah, trunch three Needs to be reduced Down to Three bucks Six ninety five Buck thirty Oh yes, correct Trading naked, thank you I missed a dollar Minus 30, not 130 But I also need to trail it As it continues to go down Trunch two is trading for a buck thirty Looks like pin central today, Elliot Not that I want to jinx it for anyone Trunch three Trunch two trading for a buck You can just hover right here for another 14 minutes We'll be in good shape Yeah, I guess I'll close my B&B I really don't want Just a big upside Directional play overnight So I've got the forty seven Ninety five Forty seven Forty five I'm at six twenty five Yeah, I'm not interested in taking that kind of risk Have another gap down And full loss So yeah, I'm gonna close it Well, there goes my calendar win streak It's doing good for a while I will hold my two three Which is It's down about fifteen percent I'm holding that one I'll keep the Keep some overnight risk on Well, tomorrow we got half of our hundred point down move today I told you we would We'll get the rest overnight Trunch two down to fifty cents With ten minutes to go I don't know if that's worth risking One point four billion buy side Is the final market on close I mean my trunch two has all the way down to the O5s all the way up to the Up Forty seven thirty so I guess I'll collect that extra fifty cents Trunch three is at the fifteen And thirty so I need that one to stay above fifteen I'll make a game time decision Here in about four minutes Don't need new lows of day Just need to simmer in Simmer in above fifteen Yeah I removed all profit targets in the bot When I first set them up Because that's how I did my OCOs So in case I wanted to get out it was easy to Just cancel or replace them But with the bots I don't need that So I just If I'm gonna exit I just click the little red X And it closes it So I don't need a profit target in there I removed the time and Ninety percent profit targets And a thirteen I need above fifteen for trunch three Trunch three is currently trading at three Eighty my stops now at four seventy five So if he keeps going down that I'm gonna get stopped Stopped on trunch three For profit Now I just need to stay above forty seven Oh five so I made twenty eight percent On Trunch three Down towards loads of day So here's my zero DTE summary for the day So AM ratio seventy minute Booked eighteen percent JSP's booked fifty percent Lost on my quiet lunch Lost on my PM iron condor Lost on trunch one One on trunch three And then Trunch two is looking solid So far so net net On my zero DTE I'm down About four thousand I pin here I'll be down about three Three K on the day for Zero DTE total On the, on doing like VXX Verticals dick I will if there's some follow through tomorrow for sure Oh the Bollinger Band VIX New loads of day forty seven Oh six So remind me dick what is it SPX is supposed to bounce tomorrow Yeah I'll take that bet I think we close lower tomorrow I need to stay above oh five right now though Yep barbecue and Barbecue for you and Whatever Whatever it was for me I don't remember Oh four I need oh five Forty seven oh two This is not a good close This is not the close I was looking for Alright It's on dick K SPX is going to close lower Than it does today I'll see you in power hour tomorrow For that final tally I got stopped out For profit on trunch two A final profit on trunch two Of twenty nine hundred Fifty two percent No pin But still profitable And overall power Hour let's see lost forty four hundred On trunch one made twenty eight Hundred on trunch two Twenty three hundred so Slightly green for power hour Could have been a lot better I was hoping it would be a lot better But it's green Let's stay on here for another two minutes Let's see where this thing shakes out I mean we haven't seen a red bar like this since October Can you ship oysters dick hey I like raw oysters I'm out I got stopped out kin I was I have a on the down days I have a trailing stop So I got stopped out for profit Oh no I didn't I didn't check my heart rate Oh you're gonna lose That's pretty much a guarantee Calling my shot Ten seconds You got lucky last time Close at forty six Ninety eight SMP down Sixty eight Almost one and a half percent lower Vix never did make it back up to its high Vix closing at thirteen point Seven seven Russell down a full two percent Nasdaq down one and a half percent Alright let's go let's get bloody overnight My friends Blood in the streets that's what I want Alright all Good times Have a good night As far as live stream tomorrow Let me double check tomorrow is Thursday So Chad's streaming in the morning And then we will be back for power hour Alright y'all take care