 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 go, we follow the plan, that's how trading 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 More trade hackers, get ready the options Time to make bank, get locked and loaded Then be ready to play What's up everyone, welcome to the first power hour of December December 1st on a Friday, hope all is well Well it looks like we actually have a nice juicy $8 straddle To play with, Patron to one So today I got smoked out of my morning AM ratio Had a couple of re-entries that got stopped out Small losses My JSP's, I reduced my stop, got stopped out for small loss on that one Then I've got a couple other re-entries that are on One hit 50%, one is still on And a PM iron condor that's up about 20% So I'm trading my up day strategies today SPX is up 0.69% above the open Trunch one here in a few minutes Also got some calendars I need to put on First one will be a 3-6 Excuse me, first one will be a 6-7 I will do a 3-6 And a 3-5 Get these typed out on my little sketch pad A 3-7 A 5-7 Trunch one coming out in a couple minutes Had everybody else do today, kind of a mixed bag That was unfortunate getting stopped out of those JSP's After it kind of flushed it out when I reduced my stop And then took off Yeah, Russell's going crazy today Up 2.4% Gold is hitting new all-time highs today Volatility expanding in gold Hit a new high of 2,095.7 On the Gold Futures He has not hit a all-time high quite yet All-time high is at 193.3 He's currently at 191.6 Trunch one coming in Let's see, we went 5 wide 95.90s Oh no, I'm sorry 90s straddle I was looking at my other position 90s straddle fill that 10.65 2-1 90s straddle Yeah, I'm sharing some strikes here So my wrist-graph's going to look a little goofy Sure does, Maro, sure does I did a bunch of futures trading today Ended up doing nice Almost 4,000 in profits I traded a bunch of different things My first trade was a loser And that was gold Gold tricked me I thought it was pulling down And it just ripped my face off So that one got stopped out right here And thank goodness I got stopped out Because it ended up up here So that one was about a $2,300 loss 6B was also the other loser And then I had a winner in the Euro My biggest winner was an ES $1,000 winner in oil Another small winner in MES Small winner in M&Q $1,000 winner in corn $1,000 winner in wheat Now I'm not using NTT I'm just looking at price action On the daily chart And then entering and managing On a five-minute chart Just price action So S&P futures a little above $4,600 SPX almost hit $4,600 $4,599 $39 is the high of day Yeah, Calvin, I looked at it When I was doing my December planning But I like the way that I'm set up To do the up days, normal days, down days better For me, bounce here in SPX VIX down almost 3% Down to about 12.5% Although when SPX was climbing earlier SPX or VIX started bouncing as well To set a little reminder for my calendars Well, let's hope we don't have a big market on close And balance change again Like we did yesterday, that thing was nasty Well, we got the election next year Maybe that'll help leading up to it And I'm sure we'll have some surprises here and there That pop volatility back up I just can't wait for the political commercials That's my favorite part We need Dick K to run for office That's what we really need Get the trade hacker community behind him I don't, I mean, I don't see how he could lose, really Exactly can That's a good tagline right there Make SPX great again No, I did not Anything good? Yeah, Nathan's pretty bad Pretty, pretty bad Let's see, Tronche 1, I got in at 10.65 So 6.40 I'll reduce my stop Tronche 1 up 6.3% so far Getting a little bit of decay coming in Dark Avenger, I'm just I'm just adding more More calendar exposure here Going forward I think we're going to see some good performance out of them Being in this low implied volatility Anytime we get a little pop It should work well for the calendars Assuming it stays in range I will, you know, it depends When I start putting them on When I'm looking at the strikes Depending on any kind of overlap I may nix one of those But a little pullback Back to 89 Taking my son Taking my son Taking my son and three of his buddies to Great Wolf Lodge tonight So that'll be interesting 12 year old birthday party Oh, Great Wolf Lodge They've got like a water park It's a hotel Just other fun stuff for kids My wife's like, yeah, you can stay the night there I'll be at home taking care of the dogs Thank you, thank you for that We have three dogs Three dogs, six chickens Got a golden doodle That's my dog Got a yellow lab Pretty much a yellow lab We don't know for sure That was a rescue dog And then my wife's dog Is a Havanese poodle Hava poo It's a little black thing I don't claim that one So I was at a town a couple of weeks ago For my son's national cross-country meet I come home And she has another dog She decided to go to Casey Pett Project to I don't know why, I'm not sure what she was thinking And she has this dog in her house I'm like, so when are you taking that back? And she's kind of Joking around, oh, isn't it cute? She'd never answer my question So finally, later that night, I was like, no, really? When are you taking that dog back? I was like, we are not having We are not having four dogs in this house She wasn't very happy about that, but She took it back Alright, I'm gonna jump in my 6'7 here Build on my 6'7 Just posted that in the calendar channel SPX bouncing back up for us Bronze one's up 10% My PM iron condor's up 40% Let me reduce my stop on that one Trunch 2 Filled at 6.65 And that was the 95 calls 90 puts 5 wide, how about that friends? It's like a real power hour I feel like it's a real power hour today Not a fake one like we've had A real one Alright, so Trunch 2 filled at 6.65 So 4 bucks will be my target to reduce my stop Yeah, I noticed UPST was that big today too 20% Lyft is up 13% Ulta up 10% The red side, Pfizer's down 5.5% Good, hope Pfizer dies A slow, painful death So all my bots I set up 30 seconds Prior to my back test time So that it gets filled by the back test time So Trunch 3 would be 24.30 SPX at 45.90 No, I'm still manual with my DC's Kind of waiting for Trade steward to get the Connection to trade here And then I'll add my bots for my Double calendars I started to do the bots on my B&B's, my 1, 2 DTE's But sometimes I have some conflicting strikes In my TOS account And I just decided instead of having to Having to worry about that I'm just gonna stick with manually entering For now It is amazing how the market reacts to Jerome Didn't really say anything But yet the market just has to move when he talks Just has to Wow, is that right, Naughty Dog? Do I have multiple margin accounts now? Same broker? And that was from Tasty, told you that one? That's good to know I wondered why that was an issue to begin with But that's good Sounds like the regulators Finally came to their senses on one thing Maybe the pattern day trading rule Will be eliminated next Never know Oh, and they look at both of them together, okay Wow, that's even better Yeah, I appreciate you sharing that I've not heard that Trader denied your second Was that recently, Neil? You should be able to have multiple IRA accounts It was just for margin, I believe Oh, gotcha, yeah Yeah, I don't know how they would do that Alright, SPX down to 89 Like to stay above 90 Trunch three coming in a couple minutes I'm gonna go ahead and close out One of my re-entries here Bumblebee, I'm not sure if I anticipated it Necessarily Commodities, a lot of times The implied volatility expansion works Opposite of equities Meaning, as we're seeing in gold It's hitting new all-time highs Implied volatility is expanding So gold keeps going up Implied volatility is most likely going to keep expanding Here comes Trunch three Build at 630 And that was on 95 calls, 90 puts So five wide for Trunch three And three five wide 90 to 95 will work I'm gonna get filled on my three six SPX bouncing Just posted my three six Trunch one and two are both up Over 20% Bumblebee, everybody has their own Plan, but The majority of us Hold it until Right at the end of the day For me If I have a strangle Then I will potentially Let it go all the way to the bell Or what I kind of do is Within the last five minutes I use a little bit of discretion as far as when to When to exit, but I don't exit prior to Five minutes till the bell Naughty dog, you don't Like if you're buying the five cent wings You might as well Buy the closest ones that are Five cents, there's no value in going Wider If the strikes are down to five Five cents Trade stewards trailing stops are not automated yet So you gotta Manually Move them down At this point Naughty dog, that would just mean that There are some cases where Five cents are wider Than 70 Strikes, 70 wide When implied volatility gets really high Especially on the put side You see Five cents could be a hundred plus points away Low volatility, there's No reason to go Wider than the first five cent strikes Wow, that's six seven I put on is already up 350 bucks It's already at five percent White tiger, I'm referring to A six seven DTE Double calendar Not zero DTE related, not power Hour related, tranche ones Up almost 30 percent I'm looking for 640 To reduce my stop 594 million sell side So for my five seven That I put on, I'm gonna do the I'm gonna do the at the money version Be more trader So the The big institutions Are required to report Their inflows Or outflows for the day And they are And then their orders are required to be entered As a market on close order At the end of the day So What happens is On financial juice it reports these So the early indication The first one comes out 30 minutes Until the bell And then there are two others And then the final one that the That the firms are locked into Comes out 10 minutes before the bell And so So you know Your state streets, vanguards, black rocks All your big Institutional money managers That have money You know obviously flowing in and flowing out With 401k plans and everything else, right So They're required to report what their If it's a net Sell side or net buy side So these early indications Don't really mean anything It's the one that That shows 10 minutes to the bell That they're actually locked into And it's exactly what we saw yesterday Where We go back here I don't remember what the early indications were Yeah so here we go So the early indications Yesterday Were 341 million sell side 341 million sell side Which anything under a couple Billion dollars is nothing In the grand scheme of things But then the last one came out and it was 6.5 billion to the buy side And we saw that massive run up At the end of the day So It doesn't really, really when I've seen It mean anything is A It's got to be over at least a couple billion In one direction or the other And You'll see market movement a lot of times If you see it flip from sell to buy Or buy to sell Now is there anything you can really do about it Well not really But that's That's what it has to do with Yeah exactly Naughty Dog Launch one and two getting close to stop reduction Yeah the orders go In market as market on close orders So right at the Right at the bell But the market obviously reacts To that Which is what we saw yesterday Go back to 92 Launch one up 36 40% getting close Currently trading at 6 80 I'm looking for 640 So on trade steward what I'll do here is Once this hits 40% I'll reduce my Stop And I'm lowering it down to $3 Over the current price Which would be 940 So I would reduce this To a Minus 1.25 below the I don't know if it necessarily Causes an overnight gap It's usually If you see a big movement In the last 10 minutes A lot of times it's based on that though Of course there could be Obviously a continuation off that too If it's Really big but it's kind of the normal Inflow and outflow of assets Launch one down to 6 60 I'm looking for 640 48 It's 43 So I'm going to go ahead and move my stop to Minus 1.25 So that makes it $1.25 Under the open so it's $3 Over the current price So stop one Trunch one reduced Trunch two also is to the point of getting reduced So I'm going to Move that to $7 Which is 45 cents Over the open Change that to .45 So we got stop one and stop two reduced Trunch three Gets reduced as well Two dollars over So we got in at 625 Call it so 825 560 65 All three tranches reduced Yeah Allison, yeah I like it Except for Fact that you still have to Manually manage the stops Once that Hopefully Trailing stops comes it'll be very Very nice. So on trade Steward everything is based on the opening Price as far as How they're shown like in Option Omega it's always based on the Current price so If you're reducing it to $3 If you're reducing it from $4 to $3 It's now it's you've moved That stop to $3 over The current price So for for power hour Ratcheting down like this You still have you'll always have to do that Manually I don't think they'll be able to Say Once it hits us I mean Even think they'd be able to but I'm not sure that that's going to happen You think you think the bot would be able to do that 15 minutes till the bell Posted my 3 5 DTE So I'm gonna stick with the 3 5 and 3 6 Skip the 3 7 So the last one I'll do is a 5 7 I'll give that a few minutes before I enter Yeah man that 6 7 is already up 8 and a half percent Launch 1 2 and 3 are all Still up a little over 40 percent My PM iron condor is up 69 percent Just right here between 90 and 95 Mr. SPX The VIX is kind of expanding here Tiny bit I'm gonna go ahead and get in my 5 7 so I can focus on power hour Just one toss Alright all my calendars are done You back up above 90 Little buddy Just above 90 will work There you go Easy easy Alright 5 minutes till I'm gonna go ahead and jump out of trunch 1 Filled at a buck 20 What was that one No filled at 440 Got filled on a buck 20 on the 90 95 So I'm on the 90 95 For trunch 2 and 3 still in Oh yeah hit 90 percent On my PM iron condor That's what that was Nice I'm gonna settle under 95 here Final market on close and balance 240 million buy side So nothing Yeah I just ended up doing it A single calendar Pushing above 95 It's this right here Market on close and balance So that's the total of all the firms It doesn't individualize them One at a buck 60 2 minutes till the bells Where I have my bot set Must have been trunch 2 Oh that's trunch 3 So still holding trunch 2 See if I can't take trunch 2 to the bell Oh no there it goes 65 cents Closed it out Nice Look at that tomorrow first day December It just had to get it out of its system in November Paying us in December already Alright so how that shook out Was Trunch 3 made $6,595 Trunch 2 made $4,200 Trunch 1 made $6,250 So what is that a $16,000 power hour? Just like the old days, just like October PM iron condor made $4,200 Made $935 on one of my re-entries $1,100 on one of my re-entries Minus $315 on the re-entry JSP's minus $660 Re-entry minus $1,000 And the AM ratio got me for minus $5,800 All in all for zero DTE Plus $14,480 for the day Very nice Now my Now my kid can have a birthday present He wasn't going to get a birthday present at power hour loss So He's lucky Alright so live stream I don't have the new live stream calendar out I'm going to get that done here Before the end of the day So you'll see that out soon But everyone have a fantastic weekend And We'll chat with you soon Take care