You will never have to search for new trades again once you begin a disciplined trading campaign.
All right so welcome into friday, you're gon na have to watch well, you need to watch.
You wouldn't use some of those google play bama game on my oh man bam a game.
I even thought about video, that's more important than this.
For for real, it tips off at noon.
Oh man noon, uh.
What time eastern eastern time, oh man? Well, we should have rescheduled the class.
Damn think about that.
We'll be fine! All right! I understand hey, give us the score update every now and then man, if you will okay, if i can find it on the tv, i will definitely do that good deal.
All right, y'all, uh i'll, keep it real here.
Y'All know what i do and i got ta apologize to y'all.
I've got to apologize on a couple of fronts.
First off you know: i've been bragging about.
Oh man, look at our new bases call sheet and how all those things were doing so good.
You know out right out of the gate.
Well, they're, not doing good they're all ready.
Look at this and the reason is, i had the formulas all messed up - y'all, i you know i'm just so stupid.
So i had the formulas messed up and i was like dang it.
I've been adjusted this thing so much and they've probably already downloaded it and stuff.
So the newest version i uploaded last night, but i was too tired to - and i was too depressed actually to tell y'all that you know i made the goof so all the stuff that y'all have might have in here showing all that green.
It's probably paint too, but i kept noticing you know.
When i look on my my thingamajig, i was like man they're showing me down, but my spreadsheet showed me up.
So you know bobby has human errors and i apologize for it.
I really do second thing: i'm gon na apologize for is this.
We've been putting on these uh diagonal spreads right, uh.
You know that are acting as hedges right that give us negative delta and positive vegas, and then they show up over here using zero buying power right.
So yesterday see it says right now, i'm just using fourteen thousand dollars of buying power.
So yesterday i was going to go put on some type of trade.
I forget what oh i was going to put on the ric trade yesterday and i'll be danged y'all.
If it said, i didn't have the buying power to make the trade i'm like what kills man we're only using 50 of our buying power.
But what i didn't notice - and i want you to notice too, if you're putting these things on uh either that or something else is affecting your options, buying power right here.
So, at the end of the day yesterday i noticed i only had fourteen hundred dollars in options buying power, so what they're doing is they're using some of our trades against our cash and sweep vehicle right here right.
So this number less, you know uh.
What we're using is the thing so you'll notice that it may not be showing up here, but it's certainly affecting our cash in the account.
So, let's think about these things, we're putting these on for debits right, so we're going out and buying a loan put and then we're selling puts against it right in the diamonds.
So my max loss on this trade is the debit that i paid for it right.
So it's not showing up in buying power.
I called you, know td and said: hey guys, just tell me what's going on and they said it's coming out of our cash right here since we're making the debit, even though it's technically not a buying power deal.
It's reducing our cash.
So then, if you go, your cash is less minus your buying power, and then you get the sucky options buying power.
Now, when we do that trade, so i tried to model the trade in tasty works right and it showed on their platform that it does count against the buying power.
So smitty, when you watch this video tomorrow morning, make sure you realize that, because i've been knowing you've been putting on those diagonal spreads as well.
I think that's everything i got to apologize for.
I think i'm up to date on my apologies.
Matt, do you have anything you need to apologize to me for anything at all, not today, not today, good, all right, so hey where is rick, speaking of which he's uh he's been gone two days in a row good to see everybody else, and let me commend Y'All y'all come on here every day and i appreciate it so much um i enjoy getting together with you guys.
I really do so.
Maybe rick's, okay, maybe he's just taking a couple days off.
Maybe he's got a honeydew list or maybe i scared him away after.
I named the trade after him what the devil's happening here.
Oh sorry, y'all, i'm installing stuff to speed up my computer, all right.
So, let's get on it.
Y'All, let's get after this stuff and see how we do it.
Let's go to our net lick and see.
If we're up or down oh, don't slow down on me, i've been like registry cleaning.
I've been doing all kind of stuff to get this stupid computer mind sped up a little bit come on speak of the devil, who just came in oh dimitri's in good.
We almost got a full house come on by the way, update on sock puppy, my little dog she had to have major surgery.
She had a clot cloggage in her intestines and and then they called me while she's on the table.
Uh, do y'all want us to continue with this.
It's going to be a lot of money.
What do you do the dang dogs laying on the table right? They got her cut open and you know they don't think they said uh it's extensive and when you hear the word extensive from a veterinarian friend, let me tell you something: you know what that means.
So didn't biden's supposed to be sending us some checks or something, but something for all the kids.
I got 300 a month for every kid that somebody's got or something i got five of them.
So hopefully the send them biden send me a chat baby cause.
I got ta, i got ta pay for my little dog all right.
So, let's see what our net lick is for the day.
All right here we go y'all.
We are at 47, 669.
So we had a good day.
Didn't we? Where is the jefferson's baby? So we are up 548 dollars for the day and looking right again all right now, let's see our deltas, oh wow, we now.
I do need to tell you also something that i did before we met today, make sure we keep it all real, so y'all remember.
I had the gold trade on.
I took it off.
I scratched it for a little bit of a loss like a dollar or something since i've realized that i don't have nearly the buying power that i need.
So i made i lost what what did i lose on that a dollar an eight? So i closed it for a scratch earlier today, just because you know i uh needed that buying power right to put on my rig trade for today, because i tried to put it on last night and it didn't let me because it said i'm like crap.
I don't have any buying power.
This is amazing all right.
So let's go back to our greeks and what was that again, 80, something negative 90.88 negative 90.88.
Looking good theta has gone down, we've taken some of that profit, but we closed some trays too.
Well, this thing is popping around in it: 41.4.
Take the 55.
What's wrong, 55 on my theta and y'all.
This is where it's really beautiful.
It's beautiful! Oh, my vega! Oh my gosh 78.98! That's positive, y'all, 78.98! Beautiful all right! So we're above point 10 on our theta we're at the lower end.
Now, though, right uh tv ratios, i don't care about that all right.
Let's see what our net lick is that and what is our buying power? We've dropped a lot in buying power, so this is kind of cool.
Oh did y'all.
Let me see we got chats going on here, chat cheaper, to take your ritters to the people doctor.
Isn't that right ken! Oh, my gosh man, that's like we got a dog for free on facebook that probably cost a couple thousand dollars, because the people couldn't take care of it, and then we had spent thousands of dollars to keep her alive.
Do you know why? Because she's got human hair in her body, plus plastic plus metal and it ruptured her little colon, and so she had stuff leaking into her colon, just sick puppy.
We don't know if she did that when she was out or what all right.
So now, let's see what's happening.
What am i doing? Oh buying power, 14 453 is what we're using in buying power, so we got so now we're only using 30 percent job.
Finally, i got this thing in line didn't it and for the first time you will see that these two adjustments say no adjustment necessary.
Why is that? Because i built into the program into the programming of my sheet that if any time that you and i have a positive vega - that no adjustment would be necessary on those two lines.
That's why? But my spreadsheet says: hey bobby you're, still a little you're, a little uh you're, a little short you need to get some long deltas.
You need 19 long, deltas, okay! So that's good all right! So we know the forest is in great shape.
You know great great shape could be a little longer right and for the first time ever um, let's see credit spreads.
At least she don't eat poop.
Oh i'm sure she does everything in this house, including my kids, eats poop.
I can't remember the day jojo what he did or something with poop.
I don't even tell you the story so yeah i asked yesterday, you know hey.
Where am i gon na put my my broken wing butterfly tray? Well, i ended up putting it on the um on this tail and if you got the latest spreadsheet that i posted on the website last night, you should actually have this trade in there to look at it, and i said i want to know how far away The strikes are from my short strike right.
The short strikes are 3 900, and that's where you make all the money.
Only problem is it's getting there a little too early right.
We want that to go in.
You know closer to the end of the day, so one of the trades that you know that i'm going to be putting on today is the spx trade i'll go out closest to 60 days.
Put it on collect me about 50 bucks.
So i don't know if we'll do that together or not, but you know that's coming and then you know that when we get into this thing, um 30 days right, we've been in this campaign for seven when we start getting to 30 we're gon na.
Take one off take one on put one on: take one: no okay! So let's go to our equities tab.
Now, here's what i like, what we're doing in the equities now with our covered synthetic whatever you want to call them uh these things are working really good.
Remember this is a hedge right.
This is a spy hedge.
It's part of another trade.
You want to see how the overall trade is doing come over here to the basis tab, which has now been fixed and overall, that spy trade is up, seven dollars and seventy cents.
Thank you uncle tony.
The rest of them are sucking, except for the queue switches up, so i could close my q thing.
You know negative deltas off become you know, but i like these trades.
I don't want to take these off.
I don't have to i don't if i don't have to free up any available cash to trade.
My other stuff, i'm going to keep these on.
So, let's see what else is going on in equities, and the great thing about these is most of this stuff now check this out.
I'M having to close these trades today right, look how many zero dte trades! I have on today one two three four, five, six and they're all at 90.
Something percent profit right now am i going to close them now? Oh heck! No because the chances are in all of these things that are zero dte, that these will go to a hundred percent by the end of the day right, because all of the extrinsic must come out all the extrinsic value of these options must come out by expiration.
So you have zero extrinsic and the only thing that you could possibly be left with would be intrinsic if those short options are in the money, but right now none of them are going to be in the money.
So i will close all of these today and i will reestablish each one of these clubs.
I got a lot of stuff to do today.
Y'All i mean i wish i could just you know, take off and go milk a pig and choke a chicken, but i can't do that today right so i don't think he's supposed to say chocolate, chicken and that come on.
I can't remember, but i do need to show one of those roosters, because god they're mean all right, so the draftkings this are little, puts down a little bit on that one.
So no big deal so there's no management that i have to do now.
But i do need to show you one.
That's already been managed because i've been watching them right, so i got filled on an order.
I told you i closed out my my i want to get back in you little dude.
I really do into my gold trade, but i had a gtc order working on my diamond uh to close it out of the penny, because i will not let any of these expire.
I will close all these trades.
I don't let short options expire.
You don't want to make that mistake, so we closed the diamonds right here right, it's three cents.
Now i closed it at a penny.
Look at there.
So, let's make sure our spreadsheet's working since we've made so many changes to columns.
So the weekly premium shows this week that we have had profits of 220 dollars and 28 cents.
So remember that number somebody and we'll go back to our equities trade and we'll close out that was it the diamond.
I closed out, yep, add a penny 0.01 and we'll take the name out because that slows our little thing down.
So we made ninety 231.90 go over here and we'll tell it that we got out of it today, which we did three twelve twenty one.
We were in that trade for three days now that's, but this is where our stats start going up.
Y'All because we're taking more than 50 out of these things right, but we'll call it a 50 close, because i haven't got these updated to have any other closing targets so 231 dollars.
How does daddy do it all right so we'll make this crane and keep in mind i'm going to be booking a lot more profit today, so my weekly stats are going to look great, so we make that green, oh and that beautiful now, let's see if it Picked it up over here, so this should put look at there.
Y'All look at there we made 1600 in two weeks.
We are rocking all right so, like i said, the rest of the zero tdes will be closed by me manually or i may put in a gtc order, for you know a penny on those and we'll just suck the life out of these things, and we will Reestablish these positions, so really what i need to do now is go ahead and since i did that right since i closed diamond and that's one of our and let's say that profit should have been picked up on the diamonds tab here so yeah.
Here we go so, let's see, realize profits losses.
There we go 231.90 is what i made on it.
So it picked it up.
Right, realized, profitable, loss on short trades, so there's our adjusted basis and the profit loss.
If that whole thing was made, so we've got to go out now into the diamonds and keep our campaign going.
So let's go out into the diamonds and see you don't have to worry about when you're in these campaign trades, you don't have to worry about.
Looking for trades, you know what the trades are well, i need to go to tasty works and check the iv.
No, you ain't got to do that because, when you're campaigning, which we are all you got to do is keep the campaigns alive.
So, let's see what we got here - diamonds, diamonds, diamonds, so where we want to go well, we closed that one today right.
So let's go out here.
First of all, let's see what we got make sure i'm selling the right thing.
We should have a put somewhere.
No yeah here we go, we got our little put right here, all right and we're just selling puts against it to pay for it.
So let's go out seven days and we keep the campaign alive all right.
So let's go sell a put like broken record.
I'M not greedy, you know i mean i could go after money.
I could sell that.
If i want to i just kind of like selling about, though you know right here, 265, can we get 267.? Let's go for it.
Babies, we'll probably get 267.
copy that there we go.
We are in all right, so that's the 324 put.
So let's go back to our spreadsheet and it's great equities.
We did that in the diamonds johnny one lot and that was the 234 234.
My stuff y'all numeric, lock merit lock.
One unbelievable 324 put put her down here, ctrl v for victory.
That's a long put! No that's a short put! Gosh hold on a minute, i'm on the wrong stinking mat.
How come you didn't pick that up you're too busy watching alabama? I got ta get that on the equities trade baby.
A loan put famines up 18 to 10.
Of course they are roll tide.
That is awesome.
I love alabama.
I found me an alabama cap on my orders.
29 uh 324.
Put my kids still my count.
The only one.
The only reason i'm wearing the d-rag today is.
I don't know where my spam kept is so control-v for victory.
So that's a short put, and what do we do? That was a 39 delta.
I guess why aren't you typing in there jack man there we go days to expiration was seven.
We entered that on the so you never have to look for premium again to sell when you get in campaign trades.
That's a great part of it.
Ain't got to worry about it, so we sold that for 267.
Bringing in that sweet, sweet premium, crap we're down 2.99.
We don't care.
Why don't you just roll the short diamond put in one transaction? I could certainly do that.
I could certainly do it, but uh james excellent question.
I've done that in the past.
I think you've probably seen me do that.
What i like doing, though, is it's easier for me to log into if i were not logging, my stuff, that's exactly what i do right, but it's easier for me to see the separate transactions so that when i log into my spreadbook it's just a little in My spreadsheet, it's just a little easier for me because when i do it as a single thing, then i got to look and i got to figure out.
I don't know it's just i don't know.
I just like doing this, but very very good question very good question, so we certainly could do that all right, so we got that one home.
So everything looks good here commodities.
I told you i had to bail out of my gold position because i wanted to make sure i'm able to keep all my campaigns going.
Ah, here we are to our micros baby, all right.
Well, let's see make sure we got look at this.
What a great campaign this is this one's at 56: it is the biggest winner on the board, so closer baby, we're gon na close the 34 30.
Let's go to our little spread church, our little thinker swim.
They make it so easy for us and if you're you know sorting by profit and loss, it'll bring it up to the very first one.
Apparently, i'm not there go again to bring up the positive there.
She is 34 30.
That's our biggest winner on the table.
Right so we'll take off the 3430, create closing order 12, 25 and we'll i'm gon na put it in for 12.
I just i got a feeling, i'm hooked on the feeling come on baby close me.
I just had a feeling you know.
Apparently, that feeling is not doing me too good, maybe an infection or something rather than a feeling.
Let's say here, we go all right.
25 call baby feel me careful who you say that too, because some people take you up on it and we're out at 12 and a quarter.
So here's that option.
We delete this and we'll manually put into current bay price of 12.25 and we go over here and we just bank profits 56 point something something and we're out on the 12th.
I always like how this thing keeps up with all of our stats right.
How many days were we in that trade? I feel update for the love what's wrong with you.
We were in that trade 21 days and brought in 82 dollars y'all.
I hope at some point.
This stuff is just kicking in with y'all, and you start realizing i'll.
Be dying, the worst trader on the planet has discovered a nut.
The blind squirrel has discovered a nut now they might not be a lot of nuts, but this little micros campaign pretty darn good all right, so we go back to our little screen.
We know what to do it's a process right.
I mean it's just it's just it's like nick saban, it's you got to trust the process and i trust the process.
Well, what is the process yeah, let's see so now.
Let's see our micros are negative right.
We're negative here we'd like this to be closer to positive right.
I mean not positive but neutral, so our trade is going to be to go out nearest to 60 days, so we're at the 49 days.
Hey we're going to sell a put we're going to sell it by about 15 right, but since my spreadsheet says, i need a little delta all right.
My sense, she says: hey, i'm a little short.
We can pull this in some go a little closer to the money, bring in a little more premium when we go to 20 percent bobby you're violating the rules not really because you know we're we're, saying: hey, let's see if we can get 35 50.
I've got a feeling yep, my feeling came true.
Sometimes you just got the feeling.
Sometimes you just have a yeast infection.
You never know all right.
So let's go get that and copy our option at the 20 delta.
Where are you? Where are we at boy? That's a delay in it all right.
Here we go so we right click copy.
We go put that into our spreadsheet, so you'll never look for trades again! Y'All.
If you get into campaign trading, i think that's the focus of today.
I don't know what to trade body get yourself in a campaign you'll have you won't have a problem finding anything to trade? I just think slowing down on me by the way.
This stuff is good, fair life, core power, oh man, so much better than that.
Other garbage i've been drinking while that's opening up, let's see what that did to our deltas.
Let me yes, we were in the double digits, negative right, negative, what 16 or so so now look at that and we were negative 60 down here so selling the put.
Does exactly what we needed to do gives us a little bit of positive delta right uh gives us a little beta, you know, and it brings our vega down a bit, but we're doing very, very good.
Let's see if mr spreadsheet's cooperating now come on, mr spreadsheet, do your thing all right here we go so we sew them micro and if you don't trade, the micros get you a campaign in something get your campaign into draftkings to where you go.
Here's what i'm doing in draftkings, i'm doing the same thing every month, every two months, if you'd like to stop right, get your campaign going 16 put, you don't have to follow exactly like.
I do probably be smart not to follow exactly what i do.
I actually sold a um 1650 put on fuel cell this morning and closed it out for 10.
Look at you in one day: yes, look at you it it! It expired.
Today! That's awesome! I posted it early and so matt, that's one of those uh stocks that he's been trading right, so he's got him a little.
I mean he's, he likes to stop.
He likes trading that and that's that's beautiful and you just keep doing the same thing over and over right.
Keep trading around you'll start noticing how these things move, and that's why i told you, i don't know anything about stocks gosh.
I have no idea, but i love watching the s p.
I have a lot of confident confidence in watching it for so many years and kind of know what the worst case scenario is and take it we're down 2 crap all right.
So now, let's see so that's the micros for the day, so i close one oh now i could.
I could close this one right, but what i want to i need that positive delta, let's let her bleed out a little bit more over the weekend.
This is just a beautiful, beautiful, beautiful little system.
Y'All now is it flashy? No, but i think the day's coming when you're going to see it start really really pumping up all right.
Let's go to my es trades all right.
So while we slept last night, this little puppy closed out at a nickel.
Actually it did it before we slept.
Let me see when that closed, because i was up - and i was going to put another one in let's see when did this work before my order start gotten rejected okay on 3 11 right it closed at 6, 36 p.m for a nickel.
So, let's close it on here, let's make sure it's picking up in my weekly premium, so we're at already 534 dollars y'all! That's do you see how powerful this is? 534.
Last week yeah we had a bad week, but look at this we're rocking baby.
We are rocking, so, let's see 534, so let's go put our es trade in, let's close it out, add a nickel.
We don't need you anymore.
Thank you very much, we'll put in our nickel manually 0.05 so that closed at uh took me 4.32 cents to do it.
So we made a hundred and six dollars on that closed it out yesterday.
So let's go here.
All right 106 dollars! How does daddy do it? Thank you.
I wish i could quit saying that i got that from tony bautista.
You know he's always telling tom how's they do and i'm like.
I just keep saying that, because my name, daddy, is called so many times here today and i just like saying how does daddy do all right? So let's make that green.
So we got that y'all.
So let's go back over here and make sure that picked our profit up, because i want to get yeah baby uh-huh uh-huh uh-huh.
We may go over a thousand dollars this week by the time.
I close all this other garbage out all right so having a very good week.
So, let's see, i need to stop that from doing that.
How do i do that? I don't know i got to take something out something out something now, because i don't want to slow my spreadsheet down, but i won't worry about that now, all right, so we got this done all right.
Let's see if we got anything sitting in other trades, i need to manage no, no, no, but we do need to reestablish right the rick tray.
Now i could wait to the end of the day.
Let's see how the market's doing, let's just see what what she's doing hello, mr market, where are you? Let me go to wouldn't y'all like to see it in the volume profile it's been a while, since we visited the green monster volume profile and let's see what the e-minis are doing, we don't care about the crap of nasdaq, though the nasdaq is making us a Lot of money today with our hedge, we could close that be done with it.
We got other hedges in place.
I want to keep it on, i'm ready for when it really tanks all right.
What do we got here? Peoples hmm looks like we're in a fair value range.
Don't we you know what? If he was a smart man or lady, then you could buy a butterfly right here at the 3870 area.
Right because look at this, you got the 80 percent line there.
How many times do we see it interact with these green lines right? This is february for march, and you've got the predominant volume of all trades over the last 10 days trading at 38.71.
So what you could do is buy a butterfly right here with the short strike there and your long strike here and your long strike here and be playing for a test of that area.
That would be a sweet sweet play.
So we know that the e-minis are in a fair value area.
I can just tell by looking - and this is area where it would be oversold - here's overbought for the range below it, but it's doing just as we thought it would do.
Let's go see what the es is doing in the see.
If i still feel good about selling puts oh yeah, i mean we're still in the uh.
Still in the channel.
Aren't we we're still going up still doing our thing? Why is that doing that? Crazy? All right negative, 57 deltas right.
So let's go trade us an e-mini naked naked! I'M trading naked, don't want to get her too exciting, not that that would excite her that'd.
Probably you know scare her off all right, so we pull up the e-minis we! Oh, i didn't tell you what i did last night.
I've got a position that i did sell last night because this stupid thing, wouldn't let me sell a naked last night because all my buying power was gone.
I sold kind of i'm at the money.
This is basically risk one to make one that'll.
Probably i don't know what it'll do, but it's just it's in the money now right.
So i think my maximum loss like 125 dollars on that right, but it gave me a little positive delta, so the put spread.
So you know no big deal with this one if it goes bad, the other trades are making up for it on today, but i was going to put in my rick trade last night, but since i couldn't, i said, that'll give me a little positive deltas for The day, even though it looks like that, complete trade is going to be a loser bobby you put on a trade right at the money.
It's going to be a loser.
You don't care, no, because the other trades are making up for it.
You start seeing the forest, not the trees, i'll sacrifice a tree every now and then give me a little positive delta.
If i need it.
So, let's go in here three days out we're gon na sell the five delta or i normally look at the probability of being in the money.
Don't know so.
Here's five percent - here's 5.72! Let's go for the bigger credit, so we sell that one at a dollar 35.
Could we get a dollar 40, i'm feeling it go up baby? What's wrong with you, there we go dollar 40, make sure it says i've got buying power left to do it.
Look at there i've only got 1200 of buying power, unbelievable y'all, unbelievable and we'll do that 1.40.
That's the thing that those trades are counting against us, but we'll put that on: let's see if we get failed there we go so we got filled at a dollar.
Forty i like it, i like it a lot see if we can grab that for think or swim does some crazy stuff copy here, and i got a feeling that's going to make our deltas right on track.
Let's say you're close to it: uh spreadsheet, yes, tray and for some reason, they're making us go es xcme.
What was that already there? It's a 38.70! That's awesome, ken! So forward.
Slash e es xcme we're johnny one lot trader 38.35: you did the 3870 there you go so 38.35 ken said the other day.
Is this the trade ken? You said you can make a living on with 26 thousand dollars.
I forget 38.35 short put option, name, control.
V, i'm gon na have to start making a living with these pits.
I got this very valuable farm that we're doing today's expiration on that one is three: he entered it on the 12th.
This is just a i mean, i'm not looking for trades at all.
Why? Because i got more than enough and we got into that one at a dollar - forty dollar, forty, oh man, down twenty percent.
Does that not seem right? I'M only 84 dollars out of money.
Did i get the right? One? 38.35.
You just double check something.
38 35 copy - i just didn't look right right after that.
Let's see 38.
35 short put.
12 got a dollar 40 current price 1.55.
Oh okay, down 11 bucks.
So that says it's 16 all right! So we're in that trade.
Now! So, let's see what that did our little delta show.
I like saying this so now that we're in that trade now we're negative.
Oh negative, 33 negative 20, it's changing! So let's let negative 29.! Let's see if our spreadsheet now is happy with us negative 29.
uh greek scenarios: negative 29.
Surely we've made the spreadsheet god's happening, so we went from a negative 90 negative 29 and what does it say now? No adjustment yay, oh man.
How great is that right? So we got that looking nice.
So, let's see what do we do negative 29? What is our? What is the sweet, sweet data now sweet sweet data is oh yeah, we're rocking that back up too 102.
Okay, there you go.
We went from 55 to 102.70.
Look at there yeah now look y'all and - and i don't know if you grasped this yet ken - you probably grasped this - we've got positive vega in the account come on volatility pop up.
We don't care.
One percent increase in volatility.
We're gon na make thirty one dollars a two percent increase in volatility.
We're gon na be sixty four dollars, y'all see what happens now when volatility now goes up, we benefit from it, which is unheard of by people who sell options, but you and i are uniquely positioned that we've got 33 positive, vegas y'all don't go bragging about it.
I don't go out to dinner with your wife tonight or your significant other and say honey.
Let's go out on the team, let's go to the red lobster, because we've got positive vague in our camp.
I dare you say that to your wife smitty when you watch this, i want you to hug your your beautiful bride there and i want you to just say: honey life is good.
We got positive favor and you really don't know how great that is until you come to a place where you need it, because i've come to a place when vegan worked against me when you had like negative 200 and the market dropped and the vix went up And you're, like ah by the way when's our vicks trade ready or we got a campaign.
We can't forget it right.
We got to put on our vic's hedge every 30 days.
Let's see where fix is fix, not don't worry.
My mic didn't work or mike someone named mike, didn't work.
You asked him the question about making a living on that one trade and i guess he couldn't respond because his might doesn't work.
Thank you so yeah.
What would we do without man? I mean we pick at him a lot right, but the boy knows what he's doing and uh thanks for keeping me up so y'all when this gets uh, we got 10 more days before we put our next one on right.
We got this one expiring.
We got one in the 39 67.95 we'll get down to 120, we'll buy some more buy some more insurance, all right.
So let's just go and see what the old portfolio looks like spy right, because that's your beta waiting thing uh one expiration, that's fine! We could go to see what four expressions look like four expirations and the thing is: we've got a lot of short-term expiration, so it doesn't pick up everything right and what do we got down here at the bottom? Let's metric uh, p l, open uh show all so we're gon na hide the simulations hide the simulations and you wan na make sure that this goes to portfolio.
So it shows your entire portfolio and then check your dates right make sure your dates are right.
Okay, so here we are look at this y'all.
This is scary right for the short term trades right.
These are scary, but man look here, uh for our longer term stuff just looks beautiful to the downside, so you go right here so start looking at the left see what your profit is for the next few days, all right if price of spy - oh - that's a Yes, i like to go spy um.
Let's get that spy spice by spice by spy.
All right hide simulations portfolio yeah.
So here we are right here, we're in spy.
So if price stays here see our p l on our open is negative.
Now, though, but see over the next, you know a few days.
It goes up by 700 right.
We could change this to do p.
L day, it's a p l day might look better for us right here.
So we go here.
You start seeing.
You know up 380 today by tomorrow, we'll be at 563 how's that possible on saturday.
Well, because we've got, i guess stuff expiring, so we'll take out by tuesday of next week, we'll be up 726 dollars.
If price stays the same by march 17th will be up.
820, and by march the 20th will be up 1175, which still would not be enough to pay for sock puppy surgery.
Oh mr gage, we're gon na keep her over the weekend for observation.
If that's? Okay, no, don't don't keep her for observation.
Just send her home! You know where she is we'll just put her in a pen and what are you going to say? Oh no you're going to say like you're supposed to daddy what'd, you tell them.
I said: okay, keep stop puppy as long as you need her.
It's just money.
All right, so then, you can go down here and you can look at your price slices right and you can see how your stuff is doing.
I set up seven price slices similar to karen.
I like looking at the way that she looks at stuff and then you say you know negative delta, 118 of theta.
It's kind of neat to watch right, so you go now keep in mind.
This is not going to be right because i've still got four or five options.
I got to sell it today, so it's not going to take into account that, but let's draw a box, so you can see what to watch right.
So here's your theta here vega, so you go p and l on your day right.
So then you can come here in the analyze tab and you can advance that out right.
So you go okay.
What's it supposed to be tomorrow, i say: oh, let me turn it back.
Of course, it's supposed to be tomorrow, 3.
45, then it goes up to 4 36.
What about 14? You know it's taking into account weekend decay and all this kind of stuff, but it's kind of neat right, so you go out to, and this is without me even selling these other options go up to the 15.
It says you should be up 607 dollars.
Go again, 708 dollars, and all that is, is your theta burn, huh, 801.
I mean life is good.
Y'All life is good, 1076 1173 and that's even without me selling these options right.
So i'll sell that but yeah i mean it's just a cool way to see what would this do if we go ahead in in the future, and then you say what happens if you go, you know gold month out now.
Lord knows we'll have all kind of stuff expiring that we won't have closed, but let's just see what it goes out.
If you go, what would this? What would my account if price stays where it is right now? What's my account going to look like on april, the 16th that says you'll be at 1959 right, very cool, stuff y'all i mean this.
I hope you are spending more more time in here.
Just looking at your account, you know looking uh you play with so many different things just to see you know how's my portfolio.
Looking so let's say some of the things.
When i have my hedges on i'll go i'll.
Look at ball.
Stay up, you know, falls going up or whatever you know, 10, there's all kind of things you can do with this thing, just kind of see where your county is when it moves.
You know i mean the cool thing is this is a great thing about being positive vega and hopefully you'll s.
Let's say: let's move this back to today, move everything back to the day, so we've got the right stuff.
So uh you saw what it was gon na, be there when some of these short options come up right.
But you know it's just it's one of the the cool little things so that doesn't show our vega going up.
Normally, when we get the black swan hedge on when we ultimately get that campaign going you'll see this little line going down here.
You'll see this line going up up up up up.
It's really a beautiful thing to see beautiful when you start getting into that campaign and we'll start working our way into that.
You know and you'll see the day that we'll be short, a lot of deltas and we'll need positive delta.
Well, that's a great time to enter into the blacks one hedge, but we like to do that on a big down day to go ahead and get into that trade.
But once we start on that, one y'all, i think y'all gon na - be really excited about these campaigns.
So let's talk about the campaigns.
Y'All, the campaigns are make sure everybody knows what the campaigns are.
Don't want anyone to be left out and do you have to do these campaigns? No pick your campaign, though i mean i love campaign trades campaign campaign.
So let's say that uh.
What are we doing? Well? First of all, we know that we've got the we've got the number one.
Let's just do number one: we've got the micro campaign right micro, es campaign where we put one on take one off now, that's a little different than what cameron scanner does, because i don't look at the time on those trades right.
I just put one on every day to adjust my deltas and then i take one off which one do i take off.
I take off the most profitable.
I take the profits all right number.
What's our other campaign? Okay, let's say number two: we have the rick trade, which is a five delta, uh es or spx, spread huh at 60 days.
Take it off for 30 days all right! No, that's not it! That's not the rig trade.
Sorry, rick trade is a monday wednesday, friday trade, all right and you do it in spx or you can do anything.
Yes, i do it yeah.
Yes - and i do my naked or you can just spread it, and what am i selling i'm selling the five delta for the next on friday, you're selling, the one for monday on monday, you're selling, one for wednesday and wednesday selling one for friday right and you Let it expire or in the case of the s which i don't let expire, i'm taking that off at a nickel right or if it's not profitable.
What i do i roll it to the next expiration for credit.
Well, what? If you can't get a credit there? Normally you can, if not, maybe i am rolling down even further in the future.
I just keep rolling rolling rolling.
It's a campaign y'all that i'll never stop all right now.
What's our next trade, this is not the rick trade.
This is the uh cameron, skimmer trade.
Here right and i do it in the spx, you can do it in the es.
You can do an inspire, you can do it in xps, you do whatever you want to all right, and this one is kind of cool, because i'm selling 60 days out closest to 60 and i'm closing at 30.
All right and for me personally cameron, said sales 10 out of the money.
So if you take the current price of the spx or es or whatever you're doing in multiply it by 90, that'll show you the strike that he's selling and then he's doing it either.
As a spread, one wide or he'll he'll go three strikes wide, which in spx would be 15 wide right, but i'm doing a five wide spread and i'm trying to put mine at the point where i'm bringing in fifty dollars in credit.
So i'm trying to bring in fifty dollars and i'm doing that every single day and i still got ta put that trade on for the day right.
So that is three wonderful campaigns that we got.
But then we've got more but wait.
There's more! We've got these little hedge trades, these diagonal hedges that may be the greatest trading on demand where we're going out and we're buying a loan put and we're selling shorts against selling weekly shorts to finance the hedge, oh man selling weekly shorts.
My stuff left me to finance the hedge all right, so those are the campaigns that we got on, but wait there's more.
We also have some income diagonal trades in stocks.
We, like, i currently have one in apple and i got one in disney and this is where we are doing the diagonal ken doesn't like this word and i won't use it, but a poor bird you know covered call it's where we're going out and we're buying A call loan out and we're selling calls against it every week right every week, so that's a campaign that we've got i've got it on in apple and disney two stocks that i like two companies.
I like two companies that i use i'm a disney plus subscriber and i'm an apple believer, except for i never have had an ipad or what's your computer, an apple computer, maybe yeah, what is it a macbook yeah, whatever yeah? So we've got those diagonal trades, but wait.
We've got another uh campaign going on it's a hedge, it's called the vix hedge, where we go out 120 days and we buy the 10 delta call and we'll use enough money.
That is at point zero.
You know point two: five percent of our portfolio: no, not twenty five percent, but point two five and we'll do that: every 30 days, rinse and repeat, but wait, there's more you and i will be engaged in the black swans, the one that gave sweet bobby the Chills in february and march of 2020, when i was like, i can't believe this has happened in one day.
An account doubles from having on the black swan hedge.
How is it possible all right, so we got a micro campaign, we got the rick tray, we got the cameron, skinner trade.
We got the diagonal hedges, we got the income diagonal uh trades, we got the vix heads, we got the black swan hedge gosh.
Is there anything else, i'm missing, it's pretty pretty strong y'all, it's pretty strong! You put all these together and you got you something really really special.
Now you say bobby, i can't trade, the big ones.
I can't trade that that's fine trade, something smaller.
If you want to do these tight trades right, so we can still trade stocks and we just get into them in this diagonal way where we can sell calls against the loan call that we buy in there well i'll.
Take that back.
We do have another type.
Little campaign we got right, let's go! Oh man, let me put my eight over here.
All right put it there, eight! What's my other campaign: okay, let's call it the stocks.
I like draftkings, all right.
What am i doing? I'M selling a put and using the proceeds to purchase stock and y'all see i've got 12 shares right now in my camp.
I will have 100 by the time the year is over.
What are we gon na? Do we're going to do covered calls against draftkings, because i like to stop what if our stock gets called away, we're going to sell, puts what is this called i'll turn it to my brother, matt matt tell everybody what this is called matt's in the bathroom smoking.
A smoking a camel.
What is this called anybody? The most popular trade in all of facebook? Right now so now, we've got a micro campaign, a rick trade, a camera skinner tray, diagonal, hedges.
We got income diagonal trades, we got vix hedge, we got the blacks one hedge and we got the stocks.
I like called the wheel yo.
We got it all.
If you don't do all these campaigns? Hey, that's fine! Oh matt's, uh mike didn't work.
Oh there you go dwayne dwayne, the wheel, james, the wheel there you guys are see.
If i see anybody else chimed in you're, exactly right, we're doing the wheel so james.
When you see all those people on facebook going the wheel, the wheel, the wheel, we're in it baby we're doing it right, we're just doing it a little different.
Where we're again you do it any way you want to right.
The wheel, i think, is a great great trade, and what we're doing is just i like the way, i'm doing it right, i'm going to get 100 shares of stock, not by assignment i'm not going to take assignment on my draftking short put.
What i'm going to do is i'm going to use the proceeds from selling to put to buy the shares, i'm already up at 12., all right, so we got something for everybody y'all.
I it's been great, uh being with y'all today uh.
I can't thank you enough.
Y'All are so good about coming in today, and i hope you really enjoy it uh getting together.
It's like something that i look forward to every every day and i hope you all have a blessed weekend.
You got any questions at all.
You know send them in the chat or if you need some one-on-one time you know.
Let me know what have i got.
I got nothing but time so.
I will see y'all on monday.
What is the biggest challenge entrepreneurs say they face when trying to start and run their own businesses? ›
Lack of support. A lack of support is one of the many challenges you may face when starting your own business. It can be tough when others don't believe in your idea, your ability to succeed, or you as a founder in general.What questions should I ask a successful entrepreneur? ›
- What are the three most important habits to be a successful entrepreneur?
- What is a typical day like for you?
- What's your favorite aspect of being an entrepreneur?
- What are the biggest challenges to being an entrepreneur?
- How do you stay on top of industry trends?
The Stress Of Making Many Quick Decisions
One of the most common reasons for stress amongst small business owners is that they are required to make many decisions, often within a short time. Entrepreneurs must think about the present while keeping an eye on the future and preparing accordingly.
- Strong leadership qualities. Leaders are born, not made. ...
- Highly self-motivated. ...
- Strong sense of basic ethics and integrity. ...
- Willingness to fail. ...
- Serial innovators. ...
- Know what you don't know. ...
- Competitive spirit. ...
- Understand the value of a strong peer network.
Lack of demand
CHALLENGE: Understanding the market need for your product or service is a crucial aspect of your business plan. Without enough people willing to buy your product or service opens in new window, your start-up won't succeed, no matter how great your idea.
There are many common challenges every business faces, whether they are large or small. These include hiring the right people, building a brand, developing a customer base, and so on. However, some are strictly small business problems, ones most large companies grew out of long ago.What are the three most important questions every entrepreneur must answer? ›
What are my goals? Do I have the right strategy? Can I execute the strategy?What is one best business question that a successful entrepreneur asks themselves? ›
1. Why am I doing this? This is probably the single most important question for entrepreneurs to ask themselves. If you want to get rich quickly, for example, you'll probably soon become disillusioned and throw in the towel.What are the 3 things of successful entrepreneurs? ›
A successful entrepreneur can take an idea that solves a problem, build a company around it, and make that company profitable. The first thing most people think about when they think about a successful entrepreneur is how much money they earn.What motivates entrepreneurs the most? ›
- Making a difference in the world. ...
- Find personal meaning from building a business. ...
- Satisfaction of doing something great. ...
- Personal growth and accomplishment. ...
- Seeing the real value of one's beliefs. ...
- Helping others achieve their goals.
Some entrepreneurs develop their reason for starting a business early, while some endure years of salaried corporate life before moving on to entrepreneurship. In any case, the No. 1 reason they want to start their own business is to become their own boss.What are the 4 common reasons that most people pursue entrepreneurship? ›
- Freedom to pursue your passion. ...
- Create generational wealth. ...
- Support community, non-profits, and other social efforts. ...
- Turn a side-project into something more.
Passion, resourcefulness, willingness to improvise and listen to others and strong determination to succeed is what makes an entrepreneur successful. And this is what you have to keep in mind as well if you want to be a successful entrepreneur yourself.What is the most important trait for successful entrepreneurs? ›
The number one quality of an entrepreneur is self-discipline. You need to do the work — even when you don't feel like it. If you have a day job, this could mean working long hours. You'll need the self-motivation to wake up early or stay up late as you start your new venture.What is a key quality of success for an entrepreneur? ›
Willpower - is key to success. it is a strong longing to achieve success. Despite many failures, the entrepreneur never loses their will to achieve. Management - Is the ability to make plans, devise targets, and then execute!What is the biggest risk of starting a new business? ›
- Financial risk. The biggest risks facing many small organizations are actually financial. ...
- Strategic risk. It can be hard to know what steps to take when your organization is brand new. ...
- Reputation risk. ...
- Liability risk. ...
- Business interruption risk. ...
- Security risk.
Starting a business requires a lot of planning, hard work, and dedication. It also involves taking risks, making difficult decisions, and dealing with financial and legal issues. The first step in starting a business is to come up with a great idea.What is the most difficult challenge to a new business owner? ›
Finding funding is a crucial challenge when starting a business. Finding investors and funding is one of the biggest startup challenges new business owners face. Not every business needs an immediate, significant cash infusion, but you must ensure you can keep the business running for the long term.How do you grow a successful business? ›
- Do Your Research. ...
- Build a Sales Funnel. ...
- Increase Customer Retention. ...
- Participate in Networking Events. ...
- Practice Corporate Social Responsibility. ...
- Form Strategic Partnerships.
- Focusing on too much at once. ...
- Remaining too focused on one thing. ...
- Delaying the creation of systems and processes. ...
- Over-promising. ...
- Not taking risks. ...
- Failing to delegate. ...
- Micromanaging. ...
- Being reactive instead of proactive.
The entrepreneurial mindset consists of three key elements: Curiosity, Connections, and Creating Value—the 3Cs. This emergent understanding came from years of work with KEEN faculty, students, and industry.What are the 5 general steps that most successful entrepreneurs followed? ›
- Build (and trust) a great team. People are social by nature. ...
- Anticipate and plan for growth. ...
- Set expectations. ...
- Invest appropriately. ...
- Don't believe the hype.
- What do I want to accomplish today? ...
- What are my motivations for the day? ...
- What legacy do I want to leave? ...
- How can I make today better than yesterday? ...
- What could hold me back today? ...
- What can I learn from today? ...
- What did I achieve today?
Who are some examples of successful entrepreneurs? The list of the most successful entrepreneurs is long, but it includes Henry Ford, who founded Ford Motor Company; Oprah Winfrey who started the top-rated Oprah Winfrey Show; and Melanie Perkins, who co-founded the design platform Canva.What is the most important business question? ›
Why it matters: Why does your product or service exist, and is it working? This is a fundamental question for every business owner, no matter what industry they are in. Being clear on your 'why' is an important element in building a brand.What do successful people have in common? ›
- 1) They are dreamers. Successful people dream big and don't put boundaries on how far they can reach. ...
- 2) They are willing to fail. ...
- 3) They invest in themselves. ...
- 4) They network and connect with others. ...
- 5) They take action. ...
- 6) They embrace change. ...
- 7) They see the bigger picture.
Bill Gates is an inspiring entrepreneur for many reasons, but perhaps the most pertinent is his drive. He had the intelligence to accomplish whatever he wanted, but without ambition and passion, intelligence gets you nowhere.What 4 things motivate an entrepreneur? ›
Monetary gains, more freedom, more authority, and creative control are the four motivations of an entrepreneur.What are most entrepreneurs interested in? ›
Entrepreneurs are often engaging people who are interested in making money and building a business into something that will make them proud. There are a number of reasons a particular entrepreneur may be interested in a certain business or industry. The interest may be personal, financial or a combination of the two.How can I be the best entrepreneur? ›
- Don't take 'no' for an answer.
- Learn from the best.
- Stay hungry and ambitious.
- Never stand still; evolve with the times.
- Nurture long-term business relationships.
- Inspire those around you.
- Trust your gut instinct, not just your spreadsheet.
- Reason 1: Achievement, Challenge, & Learning. ...
- Reason 2: Independence & Autonomy. ...
- Reason 3: Income Security and Financial Success. ...
- Reason 4: Recognition and Status. ...
- Reason 5: Family. ...
- Reason 6: Dissatisfaction with Current Work Arrangements. ...
- Reason 7: Community and Social Motivation.
They often get into entrepreneurship because they question the status quo and wonder if there might be a better way to do things. They may also identify a gap in services, knowledge, or support in their community and decide to address it with a great business idea or an unconventional solution.How can I become a successful entrepreneur with no money? ›
- Find a free business idea.
- Write a business plan.
- Choose a business name.
- Launch a website.
- Validate ideas with preorders.
- Source funding to grow.
Resilience in the face of failures or obstacles allows you to persevere and try again until you succeed. This is one of the most important traits that contribute to success because it keeps people from giving up on their goals.What are the charms of being an entrepreneur? ›
|Basis of Difference||Wage Employment||Employment|
|Tendency||Routine or status quo||Imaginative, creative, innovative|
|Satisfaction||Through compliance of rules, procedures||Through converting one's creativity into reality|
The American Academy of Achievement members describe how they applied these six principles to their own lives — passion, vision, preparation, courage, perseverance and integrity — to set them on to their individual paths to success.What should be key to success? ›
- Having a clear plan. The first thing you can do to have a successful life is to lay out a plan. ...
- Prioritising your goals. ...
- Acquiring relevant education and skills. ...
- Cultivating good habits. ...
- Having a positive attitude. ...
- Learning from your mistakes. ...
- Being open to new things. ...
- Taking risks.
Struggling to find product market fit and finding customers. Overworking and becoming burned out. Lack of cash flow. Finding the right business model.What are the possible challenges problems that an entrepreneur might face when starting a business? ›
- Cash flow management.
- Hiring employees.
- Time management.
- Delegating tasks.
- Choosing what to sell.
- Marketing strategy.
- Raising capital.
- Strapped budget.
Omani entrepreneurs face challenges in the legal enforcements, bureaucracy, rigid regulations, inefficient labour market, immature entrepreneurship education, and support policies.
- The demands of a growing workforce. ...
- More diverse customer needs. ...
- Business intelligence requirements. ...
- Inventory management. ...
- Keeping the supply chain running. ...
- New competitors. ...
- New compliance responsibilities. ...
- Keeping your culture intact.
- Write Your Business Plan. It's difficult to grow your business, without a proper guide. ...
- Get Inspiration From Successful Entrepreneurs. ...
- Set Achievable Goals. ...
- Stay Optimistic. ...
- Get Insured. ...
- How To Market Your New Business. ...
- Learn To Overcome Your Fear.
Some people avoid starting a business because of existing responsibilities or constraints on their time. Their current full-time job, their status as a parent or other personal responsibilities hold them back from their entrepreneurial ambitions.What holds people back from starting a business? ›
worrying that everyone thinks you, and your idea, are crazy. never being able to get start-up funding. not being able to attract customers. thinking you'll never handle the pressure if things go well.What are the three most important habits to be a successful entrepreneur? ›
- They set goals at every level! Highly effective entrepreneurs know where they want to go and have a plan to get there. ...
- They are visible to their employees. ...
- Build relationships wherever possible.
While there is no magic formula for beings a successful entrepreneur, those who do succeed tend to have mastered the following set of skills: good and effective communication; being able to sell both themselves and their idea or product; strong focus; eagerness to learn and be flexible; and a solid business plan.What are four challenges of being an entrepreneur? ›
Describe four challenges of being an entrepreneur. Getting funds to start the business, being fully responsible for the business, feeling insecure about making the right decisions, and risk losing their investment if business fails.What are the challenges of doing business in Oman? ›
- •Lack of basic business knowledge.
- •Lack of market knowledge and information.
- •Limited network, experience and expertise.
- •Reluctant in using modern technology.
Entrepreneurship plays an important role in supporting economic activities in the country by creating job opportunities, thus contributing to the development of the country gross domestic product (SME Report, 2006).How do you overcome entrepreneurial challenges? ›
Setbacks and failures are inevitable in the world of entrepreneurship. To overcome these challenges, it's essential to have a growth mindset, stay focused on your goals, and continuously learn from your experiences. Remember, failure is an opportunity to learn and grow, not a reason to give up.
Taking financial risks to invest in your business idea is one of the hardest things about being an entrepreneur. The risk that a venture's cash flow will not be sufficient to meet its financial obligations is the biggest concern for most entrepreneurs.What are the 5 barriers of entrepreneurship? ›
- Lack of capacity.
- Lack of risk-taking capacity.
- Not having a strategic plan.
- Issues with human resources.
- Less or no experience in marketing.