 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 Let's go, we're here to trade We follow the plan, that's how we get paid 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 like honey Power our lives, let's 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 plank What's up everyone, welcome to Power Hour Live Today is October 5th Everyone's favorite day to trade Zero DTE Thursday We've had quite a little reversal today Market opened slightly lower and fell out of bed And has rebounded all the way back to where we opened Almost feels like a short squeeze day today But it's not, we are right back where we opened However, I am going to do something a little bit different today Since I have not put out my October plan yet You know, I've got the leeway, I can kind of do I'm in limbo, I can do what I want right now But what I'm going to do, and in fact this is I'm looking at it to be part of my October plan But on Trunch 1, I'm going to start doing a 3 to 2 ratio So I'm going to go ahead and implement that today Here's, yes, can I know, very bold Here's my 3 to 2 test, if you're interested In checking it out Alright, so let's see, I need 10 calls I've got 10 calls, I need 15 puts I've got all the longs I need So I'll just be going in with the shorts Looks like 5 wide most likely Maybe 10 Let's see where we settle out here in the next couple of minutes What I've, I haven't done all the testing All the testing I want to on it yet But it looks like Trunch 1 does better with a 3 to 2 Lower drawdowns, higher wind percentage, higher mar Higher cagger, higher P&L But that's not the case on Trunch 2 and 3 A little smoother ride Either on the 65s or 70s on the call side Looks like it might end up being the 70s If we keep pushing up here Yeah, it goes from 7 to down to 3 on that stop loss One more minute here, looks like it might be the 70s, 60s 42, 70, 42, 60, trying to get filled I said trying to get filled Filled at 17, 20 42, 70 calls and 42, 60 puts Alright, in for Trunch 1 So earlier today, I got smoked out of my JSP Got smoked out of my duck Those both hurt Hit a profit target on DKS Excuse me, FKS Then stopped out on the second portion AM ratio Hit first profit target Got stopped out for profit on the remainder And what else? I've been long some futures so that's helped That's all in zero DTE land No quiet lunches or PM iron condors Win rate on since we changed it over to FKS Is 100%, 2 for 2 PT that would be the Fibonacci king Special Used to be the DKS Yes I'm required to refer to Dick K as the Fibonacci king for now So I had to change the name Yes, scroll up, Kelvin, you'll see the test I posted It's something I think I'm going to transition to for Trunch 1 For October, haven't finalized that yet So decided to go ahead and jump in it today Trunch 2 and 3, I'll still be doing 1 to 1, my normal Let's see what else we got So we put on a time fly this morning And that has pushed up ever since But we're still in range Maybe up a little bit Pretty close to break even probably The VIX is now down 1% So volatility coming in a little bit on our VXX spreads Helping out our ducks Helping out our short strangles Oil is still down almost 2% after a big down day yesterday Hey naked strangler Do me a favor All the chat is in the zero live chat channel and discord I usually turn the zoom chat off with her But I forgot to but to answer your question What is the stop loss on the 3 to ratio is I'm using a $7 stop loss and then once I get to 40% I'll kick that down to 3 I also in the zero live chat I also posted the option Omega link to that Same one that's been in my trade plan for The last few months, Kelvin Yeah they came I didn't get to attend the session today Because I wasn't able to But they came to me and asked me if I wanted to be a part of that And I was thrilled So it could be a cool little library of stuff So tomorrow it's starting at a $7 stop loss And then at 40% dropping it down to 3 That's what I found tested the best Still got some more to do but initially anyway Yeah so it's $7 on the 3 to 2 So that's 5 lots I did a 10 by 5 so that would be considered a 5 lot And so it's $700 of risk times 5 So it's actually a little bit less risk than my Original 1 to 1 Where I was doing 10 1 to 1 So let's see here I got in at $17.20 So at $10.30 Price gets down to $10.30 I will reduce my stop Yeah still fixed Yeah on a percentage basis correct Yeah it would be reduced Yeah I didn't see any value in keeping it Similar on a percentage basis Testing that I did so far anyway Yeah I started out kind of with that thought in mind Tomorrow I was like okay I got about a 50% Give or take stop loss on the 1 to 1 So I started there and I just kept working it down I was like I see it does better I mean I'm using intermittent stop losses on the back test So it should be fairly accurate from that perspective Oh yeah that's true Yeah I did not adjust the slippage so That is correct here So let's see I don't remember what I was using for slippage On my other ratios but What are you guys using for slippage On the back test Stop loss slippage I'll just put 2 $2 See how that changes it So 64.7% win rate 28.6 Mar 2 Definitely drops the Mar And increases the max drawdown 1% is about the same 7 minutes till tranche 2 S&P down 1 NASDAQ down 34 Russell up 2 Dow up 18 All hovering around unchanged Alright things kind of settle down after that last Couple big up bars Looks like we just needed to go down and flush out some bears Before ripping higher On today's price action on the daily My guess is we had to go down and touch a couple of Fibonacci levels before bouncing Alright so tranche 1 is down to 14 bucks 14.30 So I still need another $4 to come out of it A few minutes till tranche 2 I'm going to do my normal 1 to 1 For tranche 2 and 3 Tranche 3 looks like 65s and 60 Now 65s and 55s A little pullback here in SPX Could be the 60.55s See where this shit thing shakes out in the next Minute or so We bounce up a little bit, we'll get the 65.55s Alright 65.55s Trying to get 5.15 Filled at 5.15 Now it looks like the 60.55s I enter at 1.14 So it's right there Got in, may do the 60.55s too It's a tweener Tweener on the call side Stay above 60 for our tranche 1 Tranche 2 Got in at 5.15 So I'll reduce stop at 3.10 SP back in the red Yeah that portfolio margin is some good stuff I hope Schwab doesn't mess it up for us TOS users They probably will I may be coming over to your side on IB tomorrow Alright I'm getting a little bounce here back to 42.60 I thought tasty was like 175.000 Wow they're really stepping up their support tomorrow Welcome to 2023 The old escalation That always works Let me escalate that to my supervisor You'll escalate it to the supervisor It's just a nice way of saying GFW GFY They laugh after they get off the phone I just told them we escalated it Yeah it's a competition between cubicles I got 7 escalations today I think that's on ES right? Not SPX So about 7 or 8 points higher I don't want that quite much I'll just take 4 points higher A few minutes until trunch 3 Trunch 1 trading at 16 Trunch 2 trading at 4.50 Looks like we could be 15 wide maybe For trunch 3 This price holds maybe 10 wide 65.50s maybe Give it another minute Price coming down so it might be the 60.50s I'm going to go 60.50s 65.50s 65.50s I'm going to get filled at 265 Filled at 265 Oh man the 50s dropped Should have been the 65.50s Oh well I'm in Low premium As I was saying it out loud and hitting confirm and send I was like man that seems low filled But I am 15 wide Trunch 1 trading at 14.30 Need a little bounce above 60 To have a chance at lowering that stop Trunch 2 I'm looking for 3.10 It's currently trading at $4 42.60 Trunch 1 and 2 are in a race To see if you can get it to stop Lowered first 60 is dead center for trunch 2 65 is dead center for trunch 1 So if we stay right here trunch 2 Should win if we bounce trunch 1 Let me get there quicker Trunch 2 starts at 3 Gets lowered to 2 Trunch 1 down to 11.20 Need another buck 10.75 10.65 10.35 10.20 Moving my stop to 13.30 on trunch 1 Trunch 2 is there as well Had to 5.10 Oops wrong one Never mind I was looking at trunch 3 That was close Trunch 2 is trading at 3.40 I need 3.10 3.40 3.35 Still bouncing around 3.40 3.50 Need price to just kind of stay where it is For a couple minutes But 3.35 3.30 3.25 3.20 3.10 Moving my stop on trunch 2 Yeah that $3 stop on a ratio seems pretty small But that's what That's what I found so far to test the best So we'll roll with it Trunch 1 I did a 3.2 today MRP I posted the back test link If you scroll up in this channel Alright 25 minutes until The bell Between 60 and 65 is my sweet spot Oh Oh my gosh What did I do? No yeah 3.2 Second guessing myself MRP Yeah 3 to 2 15 to 10 Trunch 1 down to 9.70 Trunch 3 down to 2.10 Trunch 2 down to 2.80 So DK your Your JSP is held on through that flush Huh? I think I got stopped out on that last little leg down Trunch 2 down to a buck 80 Trunch 2 down to a 260 Trunch 3 down to a buck 80 Trunch 1 down to 10 dollars Market imbalance Yeah 208 million so That's nothing Tomorrow's news What do we have again tomorrow let's see That was Friday so yeah we got Employment stuff pre-market I've got one FOMC Speaker Waller In a moderated discussion About the payments system Hosted by the Brookings Institute in Washington DC Payment systems yeah Your guess is as good as mine I always feel like I need to do something on Thursday Afternoons but It's not a good day to put on calendars I'll take a 42.65 Getting a little pop here Of course the accountant comes in With a decimal, two decimal places Alright Simmer Simmer in right here Trunch 1 down to 6 bucks AM ratio work Got hit first profit target Stopped for profit on the second Half So far so good Whippy candle Trunch 3 down to a buck 40 Trunch 2 under 2 bucks Trunch 1 under 7 10 and a half minutes Until the bell Got the 65 55s on Trunch 2 Got the 70 60s on Trunch 1 And the 65 50s on Trunch 3 The final market on close imbalance is Early indications were 208 million on the buy side Should be showing up any 302, 320 million buy side So Drop below 42.60 Trunch 3 down to 80 cents Trunch 3 down to a buck 15 I mean do I take it all To the bell and go Elliott style here Or do I take some chips off the table Definitely taking Trunch 3 To the bell Trunch 1 is right on my lower strike Trunch 2 is right in the middle No I don't reduce My stop on Trunch 3 I reduced my limit order Down to 10 cents I'm going to take that one to the bell Little drop Give me a little bounce into the close Oh no Trunch 1 is now 11 50 stops at 13 30 heart rates at 88 Still getting a little down move Trunch 1 may get stopped About a 3 point bounce into the close 2 more 2 more up Heart rate 92 97 Okay, okay Just sneak right above 42.60 for me Just a little above 42.60 There you go Little more Just for comfort Ooh heart rate 105 This is getting to me With all three Trunches It's a little different I guess On the old heart Back down to 90 That bar stays green my heart rate Calms down 1.5 minutes It's like 5 minutes underwater Just a little uff Into the close Trunch 3 got filled at 10 cents I have mine sitting at 10 cents Oh I got filled at 10 cents also I'm surprised somebody wanted to Buy that at 10 cents A minute to go A little bounce 30 second bounce A little 30 second 2 point bounce Now you're going the wrong way now 10 seconds Get up there Get up 10 cents on 2 Alright so still made 50 Almost 6000 on Trunch 1 And pins on the other Basically minus 10 cents Nice Very nice If it would have gotten above 42.60 That would have been over 20k Which would have been my biggest Power hour but Not quite but I'll take it Pretty close Not bad for a Thursday That is That's true Alright my friends good stuff Good stuff Tomorrow is Friday The 6th So Chad will be streaming in the morning at the open And then I will be back To do it again For power hour Alright all take care Have a good night