 Good morning everyone happy Friday Friday, February 2nd 2024. I was anxious for today to arrive yesterday was a Tough day for my iron condors and so was really looking forward to Getting back in there probably kind of like a athlete whose team loses the game you want to get back out on the field Man some crazy crazy earnings yesterday Metta and Amazon especially meta up over 16 percent Amazon up over 6% apples down or apples down three and a half percent S&P shot up overnight and then job the jobs report came out and It was better more jobs added which actually is like not a not a good thing for interest rate cuts and so Market is starting to come back down so it looked like that Earlier before the jobs report that a Rick would be in play, but doesn't look like that now. So The Dow has gone negative Nasdaq still a little positive up a third of a percent S&P flat So man I was thinking today when I saw that the S&P was up S&P futures were up like I don't know two-thirds of a percent. I was like And I never really tracked the Yeah, if if the S&P is up more than a quarter of a percent That's a one signal for for putting on a Rick which was a winner yesterday So it's kind of wondering the correlation between adding a Rick when there's You get those situations where the S&P is up so much Is there a factor against the regular iron condors because the the big movement And so I posted in the live chat channel that I'm going to start tracking the I just put it along with my zero DTE profit loss just the expected move and and then what the market opens and closes at so to give me You know as time goes by, you know over a couple months I can look and see okay. Where are my where are my losing days? Where is the expected move? What was the expected move? What was the What was the range the actual range so I'll be able to figure all that in So My bell is wrong. So See if we get a couple mighty nineties or a couple runners here Usually pretty light here on friday so as some spx opens at about 49 See 49 13 Expected move an s&p. It was about 28 now. It's about 26. So Let's see what that does Warning al pierro frank ken san re rookie trader fast Chris Bianca nice seeing y'all in live stream today Morning deox and we got some juice in s in the In spx for some iron condors. It's for sure Yeah, I don't know san re if it's going to gap up or not with that jobs report It's definitely brought it down That was the added jobs was what they announced this morning. Which is not good for inflation Something else i'm interested in looking at here is the For zero DTE is the expected move and then how wide short strikes could be on a zero DTE iron condor Something i'm gonna look at Because if the if the short strikes are wider than the expected move theoretically that would be a time good time to to uh It would it would be good to put that trade on, you know first thing in the morning second bar here So we'll be looking for some volume bigger than the first same direction Uh, yeah, I've never never traded that I don't really ever traded any ETFs. So I haven't I would before I traded them out I want to make sure I'm Pay for trade those is it's not really one We don't have ETFs on our list to trade Nvidia pushing up NAS deck up 108 s and p has gone positive Dow is still down 165 Nvidia potential upside volume runner here And today we trade the seven DTE So make sure you you're not on the zero DTE for these Unless you want to But yeah, we trade the seven DTE moves a little slower Not as much theta decay Yeah, it's real easy to get If you do zero DTSP X that it's pretty easy to make that mistake on friday Which could be a good mistake at the you know, if it goes up it goes in your direction AMD getting close to the volume bar, but it's pulling back here a little bit. So is it gonna Nvidia I don't think it's gonna get there AMD is a little closer than Nvidia It's awfully close to being read too. Didn't quite get there I'm gonna pass on AMD just I've played those as upside runners before once that closed but I've also seen them roll over Yeah, you know Nvidia it's like is that stock ever gonna come down Check for some mighty nineties here now One thing I definitely want to see today is better theta decay It's impede trying to push up nasdaq pushing up A lot of stairs stepping down in volume. You see that a lot on a friday apple pushing up Big's coming down a little bit Yeah, zoom has a little mighty 90 here. I don't like it's I don't like to trade its First off it's already bouncing up so you wouldn't get into that Intel that bar is getting close to as big as the first so I'm gonna stay away from that That could be a downside volume runner. No, nothing nothing in tesla Boeing potential a little bit of separation there a little mighty maybe mighty 90 And check toss because That bar also is getting big. Yeah, I'd say that probably qualifies for mighty 90 I Want to see I'd like to see me push down one more time here It's real close to a downside volume runner, but it but it is it didn't get there meta Jesus s&p breaking out a little bit nasdaq flying high Yeah, I hope you know, I hope I hope that just everything everything pushes good with the mighty 90 short here actually Hope everything gets the pushing out of the way right now and then it can just chop the rest of the day So if goog pushes up to this pivot I might try to get in on a short And that would trade the 140 puts Something else I like about mighty 90s when you have pivots and something comes up to a pivot and You know gets forced down In fact, I may just jump in and then maybe add to it if it gets up there filled at 153 in goog On the 140 puts And then I always always do my mighty 90s so I can add to it. Why isn't tesla mighty 90 because I mean, I like to see more More volume separation than this. I mean, it's just barely bigger A lot of people always ask me that's good. So that's a frequent question You know, they see it they see it being just a a little bit bigger And they think mighty 90 you will know it's you if you go back to the course and steve Specifically says you want to see some good volume separation I mean, look at the separation between goog and tesla I mean that that It's a lot different than just being barely barely bigger I look at amd go see like nvidia too like that's not what we look for in a mighty 90 That's very similar to tesla. Oh crap. I need to get an order in and goog Builded a buck 80 to close half of my goog. I almost forgot there Yeah, so m u could be getting a mighty 90. Yep. So you can kind of see that too. They're saying right how it's already what a push I get out of another another goog at $1.95 Builded a topper 95 and goog All right, m u nice mighty 90 there. I'll do the 48 puts in m u I'm gonna see if it'll push back up You can see the difference of the separation of volume two on m u Gonna jump in here filled to the buck 52 in m u Yeah, I need to get another order and I was messing with m u Has moved Build a 240 to close another close a quarter of my goog That is what you want to see out of a mighty 90 m u still pushing up. So I could have probably waited a little bit, but that's okay so Goog's it looks like right now. It's giving us a second red bar. So that would be time to exit If you wanted to you could leave a little runner on I would add to my m u at like a buck 35 Goog don't you flip on us? um M mu is the 86 puts Got a couple minutes left here AMD still rocking it S&P tried to push up and then kind of got forced back down Good mighty 90 goog is I'm gonna close my goog Build a 241 to close good the mighty 90 I was trying to add to m u, but it just didn't quite get to a buck 35 And sometimes I leave a runner on but I didn't today, you know in case Goog continues to push down Oh, really? Yeah, I just have goog on mine m u is really really struggling to get through the highs of yesterday I definitely could have got a better fill if I would have waited just a bit longer Let's see what else we got Not much Yeah, but no No real signals here with AMD. It could consolidate and then continue to push Like a continuation runner does I try to add to my m u here. This push gets me Building the buck 35 That's what I was waiting for So how I do that on a mighty 90 and I position myself When I position size to be able to add So I got filled the buck 52 so roughly a buck 50 So 10 percent is 50 is 15 cents So I take 15 cents minus 150 It puts me in about 135 that way Like you're filling it 130. So if I get filled at 135 like I did I will get out of half my position with 10 profit Which would be 150 just getting back to my original fill That's how I do that Features popped right back up Good good get out and goog The muse hanging on Just need a good couple push downs and m u like I did when we got with goog The dowels really just pretty much not going anywhere Airbnb that's nice looking mighty 90 right there See how the volume separation and just too wide a bit ask Airbnb always For some reason has just really wide bid ask M. U. Was a well first. I welcome you out. I got it M. U. Was a mighty 90 That was the strategy. I traded for M. U. Had the One bar here bigger than the previous Nice little volume separation meta Still pushing No, no M. U. Has got one red bar, but that's about it The the consumer sentiment is out For january 79 whatever that means doesn't appear to have affected anything quite yet M. U. Is kind of asleep Not much else shaken right now I've got an order at 152 To close half my M. U. Looks like we got one red bar there Trying to give us a second bar Hopping up Definitely want to get out on this bar on a stock that is strong There's a lot of times you you know, you get a push up a little pause and then a continuation to the upside M. M. U. A lot of times correlates with amd and In and in vidya. So get back down there Sometimes in these situations, I'll just cut a mighty 90 if it's Part of you know, this these stocks have just been ripping up So I may just cut this one Just kind of looking to see what everything else is doing here NVIDIA is pausing I could see it ripping Upward upside continuation Be nice if emmy would just come back down and give us a red bar, then we'll get out and it can do whatever it wants See I amd push up just Kind of a slight pause here. It'd be interesting to see if it gets through highs of day I mean it may sit here and chop for a little bit We got about a minute 40 left So if it comes down here and gives me some red here, I'll just close it Hopefully in the last minute it kind of falls back down to where it was There you go out LP arrow. That's how you play that. Nice job, buddy Yeah, if you can just get out of the break even that's that's pretty pretty good on a situation like this So I'm going to be getting out to here Just in case this wants to rip up Got one minute left your futures are pretty steady Yeah, that's probably time to start looking at those I'm gonna get out here filled it $1.40 to get out Of M. U. I'm sure it'll drop. Yeah, it's still dropping. I should have waited another 15 seconds Oh, well, all right. Oh, yeah, look at it now You rat Just a couple pennies difference. Uh, okay, so let's take a look at futures here Coming down a little bit so it's kind of consolidating a little bit expected move is About 23 for the rest of the day about 23 points So let's take a look that probably go with 4935 Also, somebody was posted in the chat Okay Okay, there my job can probably the 49 40s and 48 95s 20 wings Take a peek at that What exactly is trade like? Oh, it's the zero DT iron condors. Sanray All right, try to get filled at six See here I'm on the 49 40s 48 95s. So that's what I'm gonna do See if I get filled here 50 point wings with the tracking of em I did a rick yesterday Benji I mean, I just didn't post it because Steve posted it. I just did what he I just did what he did or something else about it Uh, yeah, I'm actually gonna present. I have a court. There's a course Uh on February 8th, so I'm ready that I'm gonna kind of explain how I do my iron condors all based on price movement so It doesn't look like that's gonna get filled so I'm gonna cancel it All right guys, I will post my iron condor in the live chat channel so Once I can get in there and get filled on one so Now let's take a look at the live stream Obviously, we'll be back for power hour And Steve does not have the the February in there yet. So I'll see you back at power hour guys today. Peace