5k profit on 19K of capital trading /ES futures 0DTE

hey folks i i just wanted to show you a trade today today is monday uh september the 21st 2020 and i just wanted to show you uh my daily zero day to expiration date trade i ended up using the futures on this and the only reason that i did generally speaking i would prefer to use the spx just because it's a cheaper commission wise trade um but two things going on with this trade number one this is uh this particular account that i'm using this trade in today is uh below twenty five thousand dollars and so you have the day trading pattern rules that you gotta follow and that is not obviously applicable to futures and so it was a little bit easier to do it in the futures but the other thing that uh i want to show you here if we just look at let's look at activity here you can see so i spent the weekend in california doing our dirt bike race had a long 10 hour drive home last night sunday evening and got home and you can see this was a trade that i did at two in the morning and that was just simply related to what was happening in the futures market we were just having an a another sell-off here that has sort of just continued to slide you know the s p is down 65 bucks right now with the market just open about 10 20 minutes and that was sliding all night long and of course the big thing that we're looking at here the big thing that i looked at last night in the marketplace as you look at let's go out here a little ways on the charts is that big huge breakdown right there below that 50-day moving average and of course all of our indicators are giving us sell signals as well and so you can see activity-wise there that about two in the morning uh just before i hit the sack i did go ahead and put in the call leg on this trade and that should be um really profitable right now if i open that up what was my fill on that a buck 50 uh was my fill on that and i am going to look at probably rolling that down let's see what i could get out at yeah you know 20 30 cents or so so i got in at a buck fifty uh two in the morning i could get out at 20 30 cents now so i probably will look to maybe roll that down and then uh activity wise here you can see right before the open about seven o'clock my time mountain time market opens at 7 30 my time so just before the market open again we were getting pounded to that downside and it seemed to have stabilized a little bit i went ahead and put in a partial pull leg you can see it didn't quite match i had 27 contracts here on the call side 17 contracts on the put side but brought in some premium there and i think i hit that fairly well i don't know what that would be running right now it's about the same still 85 cents i just put it on so there's not going to be much movement there um and then i've added to that as well with a little bit of a different spread here so if we kind of look at everything that's going on right now in the risk curve let's open this up a little bit and you can see kind of where i'm at right there i need to probably balance out the risk on this trade by uh maybe moving my call legs down but we're still real real early in the trading session obviously uh not even a half hour into the trading day and so i want to continue to watch this um and we're going to watch this here on a five-minute chart probably going to give it here just a little bit of time uh but i would love the opportunity to maybe roll down that call leg and bring in even a little extra income on that trade but you can see there that uh so far so good today got about 15 000 of capital tied up in that position brought in about thirty two hundred dollars in premium we're already pretty positive on the day there's only about uh thirteen hundred dollars of extrinsic value still left in that and so it would be just i mean even if we could get you know what we've got right now even if we could close these trades out right now and say listen i traded you know a half hour into the cash markets put up 15 grand made 1800 that would be a great trade but i think there's a lot more potential there in that and so if we continue to see the sell-off here you know we're still showing a lot of weakness here not down at the all-time lows here but again very very early just half hour into the trading session so it doesn't mean too much i will probably try to roll those call legs down and maybe balance this risk out a little bit maybe bring this cash flow zone down a little bit and add to the risk on the call side to balance out the risk here that we are taking on the put side so we'll check back in in a little bit here if i do decide to roll that down all right it's not too much later it's about 8 10 in the morning but we are at the low of the day right now down about 72 bucks on the s p it's interesting um you know it's the nasdaq that's led us up and it's the nasdaq that's leading us down with all of these monsters of tech but percentage-wise we're getting hit a lot harder today in the s p than we are in the nasdaq that's sort of an interesting development i think i'm going to go ahead down here we're down here in these lower end of the trading range and again on that call side those 27 contracts that i did earlier on the call side you can see i i sold those at about a buck 50. those have almost extinguished all of their profit potential so i'm gonna go ahead and close that leg out uh and see why is it are they that expensive that's not right let's take this look again and okay there we go so nap price is 25 cents and if i could get out at even 15 cents that would be amazing if i can get a feel i do get a fill there on that okay so that obviously now uh unbalances the trade i got nothing there on the call side but i booked the profit there on the put side i need to go back in now uh and uh put in a new call leg in this and i'm going to come in here um right at this 32.90 level um so it got out again whatever short-term memory loss here i got out at 15 cent credit i'm going to try to get back in here at about an 80 cent credit um and let's try to do the contracts that i have again 27 was what i was working with there let's see if i can get 27 again um that's going to bump up my buying power so let me come down here just a little bit to where it's not there we go so that would bring in about 900. uh 700 obviously after commissions um so i'm going to try to get that filled at 75. it's working there i'm only willing to really drop that to maybe 70. so i might have to adjust that that's about 700 in profit i'm going to let that sit there for a moment at 70 cents and if that doesn't go if those two legs there don't go i'm probably going to need to move those down just a little bit okay those filled at that 70 cent credit but you know we're continuing to sell off here so i take a look at this let's look at it in the curve uh more balanced trade you know it's it's more balanced trade now uh the risk obviously is balanced and uh we're a little closer to the put side but we'll see we got so much of a trading day left to go here and uh so yeah we're looking pretty darn solid would be kind of crazy we we're showing about 1200 profit on the day another 2500 sitting there that's abnormally large that's really way too much it's it's too much profit potential uh you know there is such as a thing as as something that's too good and uh what it usually implies is that either you've got abnormal activity or volume or implied volatility which is what we have today or uh you are too close on your wings and we might be getting there too close on the pull leg if we continue to get this sell-off like this but yeah it looks pretty contained uh and so again we'll just watch this probably the 32 uh i'm going to say probably the 30 to 30 level so three three and a half bucks down from here which is you know nothing based on how much we've already moved probably going to want to look to maybe even adjust that call lake a little bit more to balance out this wrist but right now looking pretty solid for the day say 30 and uh again it's not crazy but we're we're continuing to get this sell off it's continuing to just sell off as the morning progresses here and it's putting me in a too much of a positive delta situation where i need this now to come up to uh if we look at it here to sort of balance this out so i'm going to go ahead here and i am going to add to the call legs here a little bit am i going to slide these down yet i'm just going to come in here and add a couple positions here on the call side boy i don't want to go that heavy slide this down one more 23 2400 bucks bringing in 300 bucks okay i'm gonna go ahead and i'm going to send this trade here to balance this out just a little bit see if we can get a fill on this leg it's looking like it's down at 135 i'm going to try 140. then bring there we go so there's a little bit more credit to the call side and uh if we look at it now here let's look at it in the curve open this up a little bit okay so we're starting to chop down that uh side over here and i like what i'm seeing right now i've chopped that down a little bit makes it a little bit more equidistant the risk is obviously now focused on more the call side than the put side and we're you know moving to the put side so that's good so i like everything here if we hold this level or we continue to go down even more then the next step is going to be cashing in the profits on these 24 contracts moving these down as well okay it's about 8 45 right now and we're still hammering down here at these lows but you can see that it's trying to find some buying power here um we are having some buying coming in down about 90 95 bucks still on the market i'm going to come in here and i am going to go ahead and pull this call leg right here those 24 contracts that we just sold just a while ago at 70 cents i'm going to go ahead and pull those and see if i can get out of 20 cents that would be great if i could do that well i'm not even close let's try 30 oh no i jumped the gun too impatient i got filled at 25 cents okay so i've pulled those now so obviously now this looks kind of ski wampus here uh with what we have going let me clear this out there we go i don't really have anything in the colleague but i'm gonna the reason that i did that i there's really no downside i believe in doing that number one i booked a profit number two if this can hold and we can come back a little bit again i can resell either those same calls or some different calls at a higher premium and then of course if we if we don't hold that level uh if we continue this this slide down here i would have just rolled those call legs down anyway so i'm going to just sit on this here for just a little bit and just watch these five minute bars and see if we can get a little bit of an uptick here again i would want to come back in here and redo that collect at obviously something better than that 25 cent debit that i got out so again i i just barely sold those for a 70 cent credit uh bought them back for 25 cents so we would obviously love to do another 24 contracts at something better than 24 cent credit right so i'm going to continue to watch that here and it does seem like we're trying we're trying to catch a little bit of a bid here so we'll be a little bit patient here and see how well there you go just like i knew just like i predicted it came back up no i you never know i that was very fortunate but i did see the buying coming in there and you don't know if that bind is going to hold but it does look like it's holding right now and so that's nice because i'm now able to get more money for the call positions that i want to go back in there and sell up almost 2300 on the day i got about 11 000 of capital committed right now but we want to go ahead and we want to balance this out right i want to come back in here and do some calls i'm going to try to do the legs that i already have in place and just add to those and just sort of balance out this wrist graph just a little bit you can see it's interesting now of course as i do this i come down right to there 19 contracts and let's try 18 contracts you'll notice that my buying power it actually goes up i don't have to put up any money to do this transaction because it's just simply balancing out the risk of this side of the transaction so it's actually increasing the safety of the trade while obviously bringing in another twelve hundred dollars in income so we're trying to get that dollar 35 on that um looks like we're maybe close on that bring it down to maybe a buck 30 and if that doesn't go i might just let that sit here for just a minute we're just a titch off on that it looks like oh if it went it went at 1 30. okay so and again that's reflective of the market here coming back i i'd say fairly strongly um and so if we look at that now in the curve we're positioned fairly well fairly get rid of that if i can there we go fairly delta neutral and the risk is fairly balanced and you know again we're in a pretty good position here to where if we get um an additional sell-off here coming into the later part of today we can capitalize by again booking some more of those profits on the call side and vice versa if we push up here to the call side and start to pressure those legs we can book the profits on our put side move those up as well so i think right now the only thing that i'm a little concerned with is that it's only 9 a.m mountain time and so you know market closes at 2 p.m i got a lot of time still left in the day and my wings are are fairly close they're uh maybe a little closer than i would like them to be but the market seems to be trying to stabilize here so we'll just continue to watch this but right now uh it's looking really really solid you know i've deployed in and out of the day here moving in and out of those positions i've deployed anywhere from about maybe nine thousand dollars of capital to 14 000 of capital if you want to just average it out at around 12 000 of capital and look at this and say okay well we're already up about 2300 for the day we've got almost 2700 of extrinsic value still sitting there i mean it could be a 5 000 day on maybe 12 13 000 of capital that's crazy good so we'll just continue to watch that here we definitely do not want to count our chickens before they man it is 9 30 and we hit that entry on that call leg just perfect we're right back down here to these lows of the day and uh boy that that was a nicely timed entry there on that colleague we filled those at a buck 30 and uh if i tried to get that filled right now it's down at 70 cents on the mid price so we've had some really amazing fills unfortunate fills really you can never time it perfectly and we're running uh batting about a thousand right now today so you know that doesn't continue of course but right now uh i think just all things being equal let's get this trade out of here that we're looking at so that we look at what we actually currently have i think we're pretty solid risk is equally balanced on both sides obviously not equidistant right now but you know pretty close pretty close and oh man lots of extrinsic value still sitting there good grief it would be crazy i don't think you were going to get all of that i just i don't see that happening but you add that extrinsic value to what we're already at profit-wise on the day um i mean those are crazy numbers that's five thousand dollar profit on uh probably you know twelve to fourteen thousand of average total capital committed during the day so we'll continue to watch this as it goes forward it's nine excuse me it's 9 30 now and uh we're back to sort of some selling here trying to find a bottom in this and i want to uh even this out a little bit and so i'm going to add some more to the call like here let's look at how much i want to add to that maybe something like right in that range about 3 600 bucks bringing in 600 just balance that out a little bit here i had a bad internet connection for some reason that's bouncing all over the place i'm gonna throw those calls in there did it go looks like a wind okay so here's our overall position right now um again balancing it out a little bit i got 16 000 committed now into the trade with about 3 400 left in there so again about uh 5500 total potential on the day there and we'll continue to watch this obviously pushing down at the lows of the day here but i think right now pretty still pretty happy with my positioning here we do have the ability now to come in here because of how much i've over leveraged on the call side got probably got the ability to put some stuff down here on the put side here if we can hold this for just a little bit longer and not have to add to my buying power it's just a little bit before 10 o'clock now and it does seem now that we've found a little bit of a bottom here and if i look at my trade you can see again we're a little closer to the call side than the put side let me go ahead and i'm going to add to my put leg here uh to sort of get us back here to a little bit more a little bit more delta neutral there we're a little bit negative there a little bit more negative probably than we should be at this point um and so i'm going to add to that and let's come in here let's look at the position that we have right there and see what we can do uh in terms of not really increasing our buying power that's probably as much as i want to go there 1700 add that in let's send that looks like i'm somewhat close there i need to bring that down a little bit let's try 85 probably want to go less than [Music] cents on i do get filled at 85 so that was 350 almost 400 added into that trade and then if we look at that now in the curve uh you can see that that risk has been balanced back out again there on that put side a little closer on the call side than the put side but we are hanging right in there still up about twenty two hundred dollars or so um on the day tons of extrinsic value sitting there tons and it like i say we're just before 10 a.m uh so we've got a few hours here we got four hours still left in the trading day a lot of time here um and we definitely you know be nice to get some of that extrinsic value obviously but what we really don't want to do is give this away we do not want to give that profit away on the day so we'll continue to watch it it's 10 10 and it's powering up here a little bit we're sitting right at that v web number and i if i look at my position here again now i got a pretty heavy negative delta in that and if you look at it in the curve you can see obviously closer to the call side then the put side so i'm going to try to ramp up here maybe five or six more contracts on the put side you see that kind of balances that out a little bit it's twenty six hundred dollars bringing in about three hundred and ninety dollars so that would be another dollar thirty i get that field and there we go now i'm a little bit more balanced out again so just again as the day goes by here just trying to keep this trade uh as balanced as possible and now you look at the numbers now i've got about twenty thousand dollars of capital committed um we brought in about two thousand dollars on the day got about 4 000 still open down out there working and again it's rare that we're going to capture all of that right but it but 4 000 plus 2 000 i mean if we could get 6 000 on a 20 000 capital commitment in one day obviously that would be pretty awesome uh even if we closed it out now uh up a couple grand for the day on that would be a nice trade so we'll just continue to monitor here it's about 10 43 right now and um we're just kind of still hovering a little bit closer to the call side than the put side i don't really have much buying power left i think i could do four of these contracts right here you can see kind of there on the wrist graph what it's doing it's just kind of bringing the risk down on the call side elongating out that profit zone there on the calls and then of course dropping it down on the put side i'm gonna try to get four in there i think that's about the max but i i think i've got like eighteen hundred dollars nineteen hundred dollars of buying power left and that'll bring in a couple hundred bucks uh as well um so i'm going to send that trade and then from here on out we're going to need to remove something uh and replace it rather than add to additional trades try to bring that down maybe 130 that bring in 233 bucks i'm surprised that didn't go where are we sitting at they're pretty close boy i don't there we go there we go got a fill on that so uh i got filled and uh we're starting to build we're we're all in basically at this point you know almost 11 o'clock uh three hours left in the trading day a lot about twenty one thousand twenty twenty one twenty two thousand dollars of capital committed to the trade um brought in about twenty seven hundred so far on the day another four thousand sitting there so um there's some stuff to work with here you know it's a little delta uh neutr are not neutral negative right now um but all in all pretty darn happy with where we're sitting in that i think that if nothing else if just another hour and a half were to pass and we stay somewhat in this center zone that that would bring in in and of itself that would soak up about twelve hundred dollars of that and that'll put us almost to four thousand dollars profit for the day so it doesn't you know we don't need to run this thing out all the way to the end of the day but we'll continue to just watch this it's just kind of sitting underneath that v-wap number and just kind of consolidating there well it's about 11 30 now and it might be time for an adjustment here on the call leg we are getting a little bit up there you can see that it's trying it just actually tried and it's backed back down it's trying to break up through that v-wap line um we're actually it's pretty surprising the nasdaq has actually come back really strong um it's the s p that's getting hit today we got to watch this this is what i'm watching and if we break substantially above that v whap line you can see right now we're up about 2 700 bucks um still four thousand dollars of extrinsic that we're trying to grind through here in the last two and a half hours of trading but it is trying to push up above there and if we look at that in sort of the wrist graph analysis which is sometimes a little bit easier i think for me um to visualize uh you can see where we're at right there we're obviously much closer to the call leg than we are the pull legs and we're sitting right there those nine contracts right there those are the 3250s that we sold in the 3260s that we've bought back we're sitting right on those and so i might look at because i'm out of buying power i got to do something equally on the put side and probably these far puts that are far away down here uh closing those out is something like that that would give me an extra 2600 of buying power to come back in and maybe do something else here so i'm just really closely watching this right here if it does you know break up above there and hold that level probably going to want to make that alteration about 11 38 so again for my purposes of trading this i tend to like to use five-minute uh bar charts or five-minute candles and uh i wanna see two candles there i wanna see it break above for one candle and then maintain that for a second candle and it looks like it is doing that it's not running away with this and so i'm going to wait for this candle to complete here if the next candle is up above this i am going to go ahead and make an adjustment if the next candle is at or below that then i will continue to just hold on and watch well okay it's 11 45 and this is why it's important to trade with rules you know even if your rules are wrong it's important to have rules so that you're not just doing stuff emotionally and from the gut uh and the rule again here was uh twofold there's there's there's price levels you know it if there if it hits a certain price level then i need to make an adjustment but it is in addition to the price level it's the price action and the statement that i had just made was that we wanted to see it break above which it did right there break above that v web and then be able to hold that into the next candle and uh it decisively reversed on that we are now actually down below the v with a lot of sell signals kicking in and so um right now it's you know we're still kind of cranking through that almost to the noon hour almost down to about the last two hours of trading in the day and uh it seems to now be coming back in the direction that we needed to the trade is still a little heavy to the call side you shouldn't sort of see there let me remove anything that we are looking at doing there you can see uh the current uh way that the trade is constituted we do have the these nine contracts right here this contract sped spread that we sold the 3250s and the 3260s those are pretty close those are pretty darn close so we'll have to take a look at those ah let's take a look at those nine contract spreads right there whoops that's the wrong position there we go there's the trade yeah you can see that uh it's showing uh it's upside down well it's upside down a little bit uh we brought in about 2 000 of potential theta or extrinsic there and spend about a thousand there and uh it's just not quite there yes maybe you know maybe a 500 upside down on that one particular position um so again the technical analysis is saying to just hold on well we're almost perfectly positioned here going into the noon hour about two hours of trading left it's interesting you know it hit our rule perfectly there just as it popped above the v wap line we're now sitting on the 50 moving period line right there you can see how that's kind of acted as a resistance level there resistance level there uh resistance level there so we'll it'll it'll remain to be seen here in the next couple of candles which of course would be five minute candles that's about another 10 minutes of trading if we can hold this level or if we're going to go even lower it looks like right now it's trying to hold that level but we're really pretty optimally oh i think position if you look at that without spreading that out you can see we've we've over the day here we have added and subtracted and moved around a bunch of positions but essentially uh at the end of the day here uh it was just meant to try to keep us as delta neutral as possible really really good in terms of doing that right now we've been for the last hour or two pretty close to the call leg starting to back that down just a little bit now and i again the most important thing now is that we are entering that race against time the two hours left in the trading session once we get it down to about just one hour left in the trading session then we can start to see that the theta the time erosion starts to outstrip any mistakes that we have made in other words uh that time erosion starts to really really work for us it's already working for us we're starting to crank through that now uh not showing you know four thousand dollars of profit yet but well above three thousand dollars profit for the day still another three thousand sitting in there and again that the next hour uh assuming again we don't have any massive big moves here uh should be very favorable to chipping that away so we'll come back here uh either when there is another uh action that's necessary or we'll try to check in here around the one o'clock hour well a lot has happened here in this last little few minutes it's about one o'clock so we've got um you know one hour left in the trading day and uh this is about as good as you get as you're going into closing anymore it seems like it is a decent range it's quite a big range you know we're bouncing up here around the 3245 level we've been down to the 32-22 level so it's a decent range but it is a range and that's the real key is that it's not really trending it's consolidating and that's what we need because we've done i think a pretty decent job of building out our legs today had to move and shake and and shuffle some things around a little bit here um but we got right to the point that we wanted to when things started to settle out and wouldn't you know it right now uh with about an hour left to go in trading we are man we're just about dead center which is which is wonderful right it's that's uh in terms of where we want to be we uh very quickly pushed above the four thousand we're having around thirty two hundred dollars i think in uh uh income that we could book at any time uh we still obviously got a big position open here uh pushed right past the 4000 level and now are pushing up against the 5000 level um so again this last hour is it's it's twofold in the last hour of trading it's when uh all of the rest of that is going to hopefully show up we've got 1700 of extrinsic value still sitting out there it's also when all of the big moves tend to happen in the marketplace and it's very easy very very easy to give all of that hard work profit back um at the end of the day so we just want to watch this closely here in this last hour um you know it's tight candles small candles uh decent defined range so pretty confident here but again we just want to stay on top of that going into the next hour of close about 109 51 minutes to go and we are pushing right back up there to that v-wap line again the vip line is a lot more uh because of the way it's weighted it's a lot more uh i guess you should say responsive at the start of the day then at the end of the day but it's still an important line there and so we are you know watching that closely um still up about five thousand dollars got about eighteen hundred dollars of extrinsic value still sitting in those positions um but pushing obviously again closer to the call leg again and so we just want to watch that uh as it's going forward here and see if we can hold this area of resistance or if we break through and then once again just like we did back in here if it breaks through i want to see the next candle the next five minute candle for confirmation one way or the other and then we'll probably want to start taking some of those call legs off of the table but we really are in a race against time right now just about uh 50 minutes left in the trading day 116 about uh 44 minutes left in this and it's been a tug of war here right at this area we were just uh negative here we are just negative under uh 70 dollars down and now it is definitely looking like it's trying to confirm to the upside i'm going to go ahead and i'm going to close out you can see where we're at here we're pushing right up there on that 30 50 level so i'm going to go ahead and close that portion of the leg out let's get the right trade here here we go i'm going to take those 9 and take nine from over here go ahead and close those again my internet is just horrible here let's see if we can get these filled out i got a partial fill six out of the nine so close uh there we go okay so that's not a bad feel really i was thinking i was gonna have to come in and alter that uh just a little bit more now so we're showing up about 4 000 on the day with about 1100 dollars of extrinsic value still left and a little bit better little bit better numbers here if we look at that in the risk curve now you spread that out a little bit uh we're not quite as close we've got two contracts sitting here at the 3260 level so we're a little closer here one of the things that i did not do is i did not email tastyworks back saying that i am watching my positions and so uh even though you can see here on that call legs i've got uh boy almost 900 so you know there's about a thousand dollars of total extrinsic value about 900 sitting in those that spread right there i'm probably not going to get that even if it stays below that level because i'm betting yeah that tastyworks is going to close me out here uh prior you know they usually do it around the 151 to 155 time frame with uh you know five or so minutes left in the trading day so i'm going to continue to watch this here i might see if i can throw another little trade on okay so as this starts to push up here now i'm going to try to do get one last shot of this thing here before the market closes i'm going to add about seven contracts on this spread right down here on the put side to try to balance that out again that uses up all of my available buying power but it balances the trade out again a little bit better and brings in a couple hundred dollars of potential income you have to replace that down to the 70 level see if we can get a feel there my computer is running slow and the internet is right now there we go we get that feel and uh that's it pretty much for the day very shortly here with 15 minutes left you're only left with the ability to do closing positions so hopefully we can stay range bound here and if we can i'm just wanting to look at it here in the curve and see what we're up against here there's our new position now um looking pretty good going into the close uh we're looking at uh overall here about a thousand dollars of extrinsic value still sitting there we booked about 4 300 for the day so maybe 5500 would get about 5 000 that'd be great day well 20 minutes to go and it is just a fight right now it is an absolute fight against time it's against this chart which is not running in the direction that we would like it to we want it to come back down here it's showing some strength although albeit it's sort of plateaued off here and a race against tastyworks risk management department who i did not inform earlier today as i should have uh that i was going to be managing and monitoring these positions and so even though you know our leg here is at uh 3260 and we're at 3255 um which you know again would not be exercisable certainly could be in the after hours right 15 minutes after the market captured the cash closed and because of that tasty ups will probably close that position out for me so the question is now there's about 900 or a thousand dollars 900 i guess of potential value still left in that leg and they usually will look at start closing that out about 12 to 9 minutes or so before the market close obviously if you don't do something like that yourself or unless the market moves substantially away from that but it would have to move fairly substantially uh i believe so we're gonna watch this here uh going into the close again we're you know we're showing a nice profit on the day a little over four thousand dollars on the day still about eight hundred dollars of extrinsic value left there i gotta watch it closely though if that thing uh pops any more than this we're gonna need to close that out on our own and not wait for tastyworks to do their risk management part all right here we go we are what 147 and this is you can see this is tastyworks working this trade for me they are trying to close that position they'll work it up slowly they do a pretty good job of it actually they don't just throw the trade in there at the ask or the bid price whether they're buying or selling they're trying to work the trade and get it positioned correctly but that's they're trying to clear that out that's what they're trying to do right now um there's still 500 of extrinsic value still but and there they go they fill it at 10 cents so they got seven contracts of those filled let's just refresh this and we can see where we're at now so now they're working the calls here come the call side it's always interesting the very first time uh as a trader with a brokerage from like tastyworks there they go so this is what we're left with here i was gonna say it's always interesting when you see someone else trading inside of your account for you remotely but it's a nice feature that tasterworks has to manage that risk really no extrinsic value left yet so that's pretty much even though we're not done on the day even though we've got basically 10 and a half minutes left in the trading day you can see that that pretty much zeros us out we're basically down to nothing on extrinsic value up 48 almost 4 900 on the day and uh we were trading about 19 000 in total capital so not a bad day guys for the zero day to expiration trades almost five thousand dollars profit on about nineteen grand in capital hope that was informative for you we'll do another one wednesday

Channel: Scott Stewart

Views: 4,828

Rating: 4.9223299 out of 5

Keywords: /ES, Futures, 0DTE, Options, Trading, Stocks

Id: KK1gpoLKvOw

Length: 44min 55sec (2695 seconds)

Published: Mon Sep 21 2020