Video summary
The video begins with an energetic introduction to a live day trading session on August 10th, where the host analyzes the pre-market conditions and overall market bias for S&P futures and NASDAQ after they gapped up but subsequently funneled below previous highs. At the start of the broadcast, major indices like Russell were showing weakness while commodities such as natural gas surged significantly; however, individual stocks displayed mixed performance with leaders emerging in sectors like artificial intelligence and space exploration. The trader outlines his initial strategy involving a 34 double calendar spread on S&P futures alongside a one-day-to-expiration (1DTE) iron condor position, emphasizing the importance of managing risk without relying heavily on technical indicators but rather focusing strictly on price action and volume spikes to identify trading opportunities.
As the market opens, the trader identifies Palantir Technologies as exhibiting significant relative strength early in the session despite broader index weakness, while semiconductor stocks generally struggle except for specific leaders like Super Micro Computer which acts as a key board leader alongside Sandisk. Capitalizing on this momentum, he executes trades in Microsoft by purchasing zero-dated call options that quickly move into deep out-of-the-money status before being sold at higher prices to lock in substantial profits with minimal market movement required. Throughout the morning, the trader demonstrates his ability to adapt to choppy conditions by scaling positions in and out of various tech giants like Meta and Google, noting how certain stocks successfully reclaimed previous day highs while others continued to bleed lower due to lack of support or negative sentiment surrounding earnings reports scheduled for later that week.
The trading session continues with a focus on capturing quick gains using short-dated options strategies as the market attempts to break through key resistance levels around 510 and beyond, particularly in Microsoft which serves as the primary vehicle for his intraday scalping efforts. The trader expresses satisfaction when his positions fill at target prices like $260 and $370 but maintains discipline by setting stop-losses or exit orders if momentum stalls or if volatility subsides too quickly; he also discusses how environmental factors such as time of year can influence the speed at which same-day trades transform into profits. By midday, his Microsoft position has grown significantly in value due to favorable price action allowing him to take partial profits and adjust remaining contracts to capture further upside before eventually exiting the final lot near $420 on a strong high note rather than waiting for a potential pullback.
In conclusion, the stream wraps up with the trader reflecting on his successful morning of trading where he managed multiple positions across different sectors while maintaining strict risk management protocols and avoiding greed-induced overtrading during volatile Monday sessions. He notes that while some options strategies like 34 spreads have been highly effective recently due to elevated volatility, their performance can vary depending on market conditions such as those seen in March or April when activity slowed down considerably. The host plans to monitor the markets briefly after closing his main positions for the day and will only post additional trades if he identifies a particularly high-probability setup during the upcoming power hour segment before signing off with well wishes for viewers' trading endeavors on that Monday morning.
Read the full video transcript
[music]
Wake up. Wake [music] up. It's time to
get going. Got to catch those hunters
taking off like a ruining. [music]
If the volume spikes, then it's time to
trade. Mighty 90 setting up. It's time
to get paid. Navigation trading on the
mic. Time to get [music] focused. We
don't need any indicator. Hocus pocus.
It's all about the price. Just watch it
move. Manage your risk so you don't
lose. First hour of trading is all we
need. [music] Focus on the patience and
forget about greed.
[music]
Good morning everyone. Welcome to
today's day trading live stream. Monday,
August 10th.
S&P futures dipping into the red.
Currently down eight, NASDAQ down 25,
Russell down 13, and the Dow's down 157.
Russell is the weakest, down about a
half percent.
Gold is tiny red. Silver's up 1%. Notes
and bonds a little bit red. 10ear yield
up a half percent. Oil's up almost 2%.
Natural gas up almost 5%.
Soybeans, wheat, and corn all green.
Euro and the pound are mixed. It's
pretty flat. Bitcoin slightly red and
the VIX up 3.62%
currently at 15.44.
Biggest individual stocks pre-market
looks like SMCI is up 3%. SpaceX up one
and a half. SpaceX was up almost around
4% earlier. Uh Meta's up a little over
one.
biggest red some of the chips. Intel's
down three and a half. MU is down one
and a half.
Uh Apple is down two
econ. Nothing today, nothing tomorrow.
CPI Wednesday, PPI Thursday,
and a few orange folder events on
Friday.
Major earnings for the week. HIMS after
the close today.
Coreweave and SMCI after the close
tomorrow.
AMCR and Nebius and Jumia before the
open Wednesday, Cisco after the close
Wednesday and bullish before the open
Thursday.
As far as kind of uh overall bias, you
know, the uh both the S&P and NASDAQ
gapped up above previous day high.
[bell] There's the bell. Uh but both
funneled below now. So, we'll see what
happens there. Uh I am going to put on a
34 double calendar here
as my first order of business.
Make sure I don't have any strike
overlap
on my number 204.
also be doing a 1DTE iron condor.
S&P little bounce.
All right. Filled on my 34.
One DTE is trying to fill. Oh.
All right. Both of those have been
posted.
How was everyone's weekend?
I got in a little pool time.
Did a few flux updates. I'll share
later.
Good. Good weekend.
My kids are out of town.
Just back from Ireland. Nice general
raspberry garden Watson. Very nice.
Put out a little pod episode.
All right. S&P's bouncing. NASDAQ
lagging a little bit. Russell bouncing.
SpaceX now dipping into the red.
Big banks are all slightly green.
Cryptos are all red.
ABGO is trying to get above previous day
high but getting rejected. AMD is going
through yesterday's low. PLTR strong.
Microsoft is strong.
Microsoft rejected previous day high.
Palunteer coming down back down to
previous day high.
PLTR a little reaction bouncing back up.
SpaceX a little flush at the overnight
lows
with a pretty
decent little quick bounce.
SNDK is getting strong.
Yeah, PLTR if you wanted to jump in
early. That was a shown the most
relative strength early. Nice little
level retest and bounce.
It's a Monday though, you know. I'm
going to be a little patient.
Russell acting the strongest of the
indices.
[snorts]
after being the weakest to start.
Yeah, SMCI is right at
pre-market high
and it's it's up the most. This is the
leader on my board.
Chips overall pretty weak except for
SNDK and SMCI.
Softy trying to reclaim
Tesla right at unchanged.
PLTR trying to get back up to highs.
SMH going through lows.
Nvidia rejected trying to go green a
couple times.
Now the Russell's rejecting NASDAQ
almost through lows.
SMCI couldn't hold
softy. No reclaim yet.
PLTR chopping above previous day high
still.
So PLTR definitely most relative
strength here. Amazon starting to
bounce.
Q's having a hard time getting back
above pre-market lows. I'm going to load
up some zero DTE QQQ puts,
716 puts if I take it.
Nice. Jonathan W.
Microsoft trying to reclaim again.
PLTR busted through highs.
I'm gonna I'm gonna load some Microsoft
calls
0DTE507.5
in Microsoft.
Q's popping back up above pre-market
high, pre-market Oh,
I'm going to take Microsoft here.
Filled at 155.
take some off at 185.
Filled at 185. Wow, that didn't take
much of a move
to hit 20% plus.
Put in another order at 210.
might add back in if we get some dips
above previous day high here.
Yeah, PLTR. Nice.
Meta couldn't hold.
Google is weak below yesterday's low.
Apple's still weak.
Nvidia, Tesla just choppy.
SpaceX choppy.
SMCI trying to pop back up. Chip
starting to bounce.
SNDK is up two and a half%.
Amazon needs it a little higher to hit
my 210 or Microsoft. I mean
filled at 210. and
PLTR a little pause.
Tesla bouncing trying to go green here.
S&P and NASDAQ pretty choppy.
Meta just kind of bleeding lower.
Order filled with Google.
The one DTE is already up 13%.
Microsoft little bit of a pullback.
My 34 looks like I either got a really
bad fill or it's gone against me.
Still centered, but let's see what's the
ratio doing here.
It's starting to bounce a little bit.
MSTR bleeding down 2.2%.
Coin at lows of day.
Hood chopping around unchanged.
Circle at lows. Bitcoin at lows.
Q's still kind of
chopping around that pre-market low
area.
Need Microsoft to make it back up to its
first little
five minute high of day
up around the 509 area.
Yeah, Nvidia down.
Some of the other chips are doing okay.
MU is trying to go green. SNDK is still
up. SMCI is still chopping around
pre-market high.
I still have my QQ puts on watch here.
I'm going to add a few on Microsoft.
Sold a buck 65 on that ad.
I'll put an order at a dollar 90 to
scale out if it pops back up a little
bit.
Still watching the cues.
It's kind of choppy, but
if we start to break back under
pre-market lows, I'm going to be ready
with some puts.
Softy trying to bounce again.
Filled at a buck 90.
put an order at 260 to get at us more,
which is just below highs of day.
Right around this 50850 area
should hit it.
Q's spy trying to bounce.
Meta finally trying to bounce.
Google as well back in the green.
SpaceX in the red.
PLTR still just hovering just below
highs of day.
Softy's going for it.
Go get it, Softy.
Go get you some.
S&P almost up back up to highs of day.
Nice Hondao.
Didn't quite get there.
Yeah, the zero DTE are a different
animal.
It's an acquired taste, Hondao.
[laughter]
Not necessarily something you ever need
to acquire a taste for either if you
don't want to.
They're fun when you get those big moves
in your favor, but works both ways.
PLTR pulling back.
SNDK still pushing near highs.
MU is pushing
trying to get up to pre-market high.
NASDAQ now
almost up to highs of day. So those puts
I was looking at is out of play at this
point.
Nvidia going through lows.
Come on, softy.
Almost there, little buddy.
Almost there.
Yeah, send me the link in the um
transformer chat channel, Kish. I'll
take a look at it after.
I do have some updates I'm getting ready
to push. So, there was a couple of
little uh
there's a couple little quirky things on
the copy paste feature to and from flux
to toss. So, it may be fixed once I push
this out.
Looking for 260 on Microsoft. Got up to
about 255.
Need one more little tick up.
Watson's jumping in SMCI above
pre-market highs.
Tesla going through highs.
Pretty tight range still.
There's 256.
258.
Don't be shy, softy. There it is. 260
filled.
Oh, actually, it filled two of my three
contracts. Not even a full fill.
So, I've got four left.
SNDK is on the move.
New highs in SNBK. It's up 3.7.
Russell super tight range
hasn't even broken out of its first
15minute
bar yet. Actually NASDAQ hasn't either.
There's my other contract filled at 260
and softy.
So, I've got three left.
Let's blast through highs.
Just blast off through highs.
You know you want it.
There's a new high.
All right, I'll try to take another lot
off at
330
if it wants it.
Got up to 325.
Order filled
as NASDAQ just pushed through uh
previous day high.
SPY almost there.
Microsoft just missed
before it's kind of pulling back after
it ticked through highs.
Yeah, there's no nor there's no
scheduled overnight news.
Um, so if price is still pretty
centered, then I would consider holding
at least some of it. A lot of times what
I'll do is I'll close half and hold
half.
So we'll see at the end of the day.
Oh, it just depends. The 34 and the 67
are pretty solid at transforming the
same day, but
just depends on the environment. I mean,
like March and April,
part of May, I think they were a lot of
them were transforming same day. It's
really slowed down.
Profits coming into DC's that quick has
really slowed down as volatility has
subside subsided during that period. So,
it just depends on the environment.
Q's a little pause at previous day high.
Same with S&P.
67s I would say transform the same day
the most often most often of any of
them. the 67s on Fridays.
Chips getting a little bouncy. AVGO
through highs. AMD about to go green. MU
SNDK strong.
SMCI is starting to bounce.
PLTR still hovering near highs.
SNDK is up almost 5%.
Order filled.
S&P pushing,
NASDAQ pushing, both above previous day
high now. Russell still just chopping.
Big banks just barely green. Cryptos
still weak.
You must have got a better fill than me
cuz mine my 34 is in the red
centered but in the red
by a little bit.
Don't like my fill.
Softy just kind of chopping around that
previous high of day.
Quick blast through and then put on the
brakes.
Nvidia starting to finally show a little
bounce.
Meta might be trying to reclaim previous
day high.
Meta's been on quite a run since
earnings
from 525 now at 598.
filled at 330 and softy new highs.
That a kid
that had a kid. Good job out of you.
Got two left.
I'll put another order in at four bucks,
which should fill if we get up to about
five
510
70ish.
Maybe I'll move that down. Let's go.
I'll move that to 370,
which should hit more around
510 and change.
Amazon pumping through highs.
Picked a good horse with softy this
morning. Microsoft and PLTR
were the two that were showing relative
strength early
and gave us some continuation.
AVGO if the chips can stay strong. It's
kind of chopping around previous day
high, pre-market high.
Microsoft filled 370. Got one lot left.
One little Johnny left.
Let's see what I'm up there. Softy. I am
up right at about 1500.
Microsoft hit 5109.
There's not really many levels here on
the daily chart. Vegas.
This little area
We'll give Microsoft a chance if he
wants to give me any more on this little
one lot.
My little one lot runner.
SpaceX starting to bounce.
be back in one minute.
order filled.
Softy new highs. It wants more. Said I'm
not done yet. Not done yet, kids.
I'm going to try to get out of my last
one at 420.
Elon's favorite number.
S&P NASDAQ still kind of chopping around
previous day high.
If I wasn't in zero DTE, I might
consider just kind of leaving one on
here. But
zero DTE. You got to just kind of take
it as it comes.
Those calls I took at the time I took
them I think were around the 45 delta.
Now they're like 68 delta.
in the money.
Google coming alive.
Meta coming alive.
that reclaim of previous day high would
have worked.
What was the news pre-market uh Watson?
Do you know
on meta?
Okay,
chips are starting to pull back.
Rotate. Rotation
into the mags.
Nvidia going through lows.
Yeah. Everything matters more or less.
Nothing matters more or less.
Same. Same.
[snorts]
Come on. 420.
I want to get out on a high note, not on
a pullback.
New highs.
There's 410
filled 420 and out. Beautiful.
All right, all probably one and done for
the day. I'll keep watching a little
bit. If I see something I really like, I
will post in the trade channel.
Otherwise, I will see you all in power
hour. Have a great Monday. Cheers.