Video summary
The live trading session began on a cautious Monday morning with major indices showing weakness at the open, as the S&P 500 futures dropped 14 points and the NASDAQ fell by over half a percent, dragging semiconductor stocks significantly lower. While gold and bonds offered slight gains, the technology sector faced heavy selling pressure, with key chipmakers like Nvidia and AMD declining sharply alongside Tesla. Despite the broader market downturn, Bitcoin managed to rally back above $79,000, supported by strength in crypto-related equities such as MicroStrategy, which pushed through previous highs. The trader noted that while the initial market move appeared small for the S&P, the volatility was concentrated heavily within the chip sector, creating a challenging environment for long positions in technology stocks.
To navigate this volatile start, the trader executed specific options strategies aimed at capitalizing on expected range-bound movement rather than directional bets. He prepared and filled a 34 double calendar spread near the open, followed by a one-day-to-expiration iron condor, both designed to profit from low volatility in the S&P 500. As the market progressed, he identified relative strength in certain large-cap stocks like Google, Amazon, and Microsoft, which managed to hold near their previous day's highs despite the sector-wide decline. He also took a position in SpaceX calls, intending to target a profit level of $375 before eventually cutting the trade after it dipped below pre-market lows, demonstrating a disciplined approach to risk management amidst choppy market conditions.
Throughout the session, the trader engaged with viewers who were new to the platform, offering guidance on strategies and directing them toward educational resources for mastering complex options concepts like the "Transformer" course. He addressed questions from beginners regarding order conversions and strategy selection, emphasizing the importance of understanding the underlying mechanics before executing trades. The conversation highlighted a mix of market-neutral approaches, such as selling puts and using iron condors, alongside directional plays on stocks showing resilience like Meta and Bank of America, which outperformed their peers in the financial sector. This interaction underscored the community aspect of the stream, where experienced traders shared insights while helping newcomers navigate the complexities of day trading.
As the session drew to a close, the trader observed that the semiconductor sector continued to struggle, with Russell 2000 hitting new lows and many chip stocks failing to find support. However, he noted potential breakout opportunities in the cryptocurrency market, which remained choppy but showed signs of strength that could lead to further gains if momentum built up. He decided to wrap up the main stream while continuing to monitor directional trades for later in the day or during the upcoming power hour, leaving the door open for future updates if significant moves developed. The session concluded with a reminder to stay focused on price action rather than indicators and to manage risk carefully to avoid losses in such a volatile trading environment.
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[music] Wake up. Wake up. It's time to
get going. Got to catch those runners
taking off like a If the [music] volume
spikes, then it's time to trade. Mighty
90 setting up. It's time to get paid.
Navigation [music] trading on the mic.
Time to get focused. We don't need any
indicator. Hocus [music] 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. Today
is Monday, August 24th. Hope everybody
had a good weekend. We've got the S&P
futures down 14, NASDAQ down 182,
Russell's down five, and the Dow is down
63.
NASDAQ slightly the weakest, down a
little over half percent. Gold's up a
little over one. Silver's flat. Notes
and bonds are a little bit green. Uh
10-year yield down about a quarter
percent. Oil is down one and a half.
Natural gas up one and a half. Soybeans
a little bit red. Wheat and corn are
green. Euro and the pound are flat. And
Bitcoin up another 2 and a half% back
over 79,000.
Bitcoin on a little run here. Uh we've
got the VIX up 4.76%
currently at 15.85
[snorts]
with two minutes to the opening bell.
Looks like a pretty small expected move
in S&P for the day. 28 points.
I'm going to plan to put on a 34 double
calendar
near the open as well as my 1DTE iron
condor.
So, I'm going to get my
double calendar ready to go.
Biggest individual stock movers
pre-market. SNDK is down six, SKHENX
down four, MU's down three, chip uh
Nebia's down three,
SpaceX down two.
Cryptos are up. MSTR up two, Circle up
two, coin up one.
Chips weak, crypto strong.
[bell]
All right, there's the opening bell.
Getting
a little push lower out of the indices
right out of the
right out of the gate.
Yeah. Nor, did that cover everything you
wanted? I had I had literally just
pushed that out a few hours before you
posted.
All right. Trying to get filled on my 34
here.
Number 210.
Looks like it should be filling.
All right, there we go.
All right, 34 just posted. My one DTE
should fire here shortly.
NASDAQ bouncing off of uh pre-market
lows.
S
SNP below previous day Oh,
Russell right at pre-market low.
SNP heading down to pre-market low.
Uh why did my 1DTE not fire?
All
right. Give me just a minute.
Oh. conflicting strikes it looks like.
Okay.
All right. I'm going to go to a
different account here.
Put side eight and a half.
Okay.
One DTE is posted.
All right. S&P trying to stay within
pre-market range. Same with the NASDAQ.
As far as Mag 7, Google
and Amazon kind of showing relative
strength, SpaceX as well.
Tesla is weak, down 2.3% now. Nvidia's
weak.
All the chips are falling.
SNDK is now down over 9%.
PLTR is down 4%.
Cryptos just kind of chopping around
since the open.
Russell acting the weakest now. It kind
of paused at pre-market lows, but
another leg down.
I'm going to add some Google calls to my
watch list. I would do the zero day
347.5
and then I'm going to add some uh SpaceX
calls.
I'll do the uh
they're going to be the four days. I
would do the 140 calls in SpaceX.
SpaceX trying to get back up and reclaim
here.
I'm gonna I'm gonna take SpaceX
filled at 330.
[snorts] Google also pulling back down
to previous day high now.
I'll put my first profit target at uh
375 in SpaceX.
Got a new high. See if we can get some
momentum through here.
Yeah, it's in the Transformer channel.
Elliot, what are you new here? You don't
know where I post my Transformers?
Elliot's new here, ladies and gentlemen.
Yeah, in the Transformer Trade Channel.
Come on, SpaceX. Let's give us a nice
early Monday win.
S&P holding up in the pre-market range.
NASDAQ and S&P uh NASDAQ and Russell are
a little bit weaker below pre-market
range.
Meta and Softy all of a sudden catching
a bid.
Meta is above pre-market high now.
Microsoft is above previous day high.
Google nice little reaction off previous
day high. So far
the chips are staying weak.
Speaking of new, do we have any newbies
here today?
Feel free to introduce yourself. We'd
love to hear
hear what you what you got going, what
your experience, what your focus is.
Nor, you're like a grizzled vet.
SpaceX just kind of chopping above
previous day high here.
Welcome Vargas.
So, you're focused on day trading looks
like
do you do uh
you do just directional stuff or
anything else?
>> Order filled.
>> Google nice bounce back up almost back
up to highs. Anybody take Google off
previous day high when I put on my watch
>> the same time I took SpaceX.
Lando and GooG. Nice.
S&P now dropping new lows.
SpaceX just ticked a new high.
Need a little Need a push higher to hit
my profit target, though.
Microsoft and Meta big rejections.
Microsoft made a quick push up to
previous day high, big rejection. Meta
made that quick push up to pre-market
high, big rejection, almost back down to
lows.
These chips are
chips are heavy this morning.
Now SpaceX dipping a little bit.
[snorts]
Tesla down almost three.
S&T uh SNDK down five uh 10 and a half.
AMD down three and a half. MU down six
and a half.
SMH is down three.
All right, SpaceX needs to bounce here
or I'm going to cut it.
See if it can pop up. Pack pop back up
here.
Welcome Shams. Relatively new. Do a mix
of strategies mainly put selling also
market neutral like IC's. Need help with
the transformers. I use Tasty and Ivr.
need to understand how I can leave
orders to convert to DCTM.
Yes, sir.
Yeah, we've got the Transformers course,
so make sure you check that out first.
All right, SpaceX needs to get cut here.
Give it just a second.
>> [snorts]
>> Google. Yeah, Google dipping now, too.
Amazon
breaking down.
S&P starting to bounce right off that
level from last Thursday.
It's partly why I'm giving SpaceX
another minute here, just to see if
that was a quick flush and then we're
going to bounce here.
Microsoft is all over the place.
Welcome Jay.
Yeah, I would say the best place to get
started on the transformer stuff
obviously is is start from the beginning
of the transformer class. It kind of
goes through in a progressive way and
then um and then you'll you'll see the
the flux tool which makes the whole
process of learning and understanding
the transformer process
um much easier more much more efficient.
All right, I've got my order ready to
cut here.
All right, I'm out.
Out at 245.
Google popping back up
a little bit. Amazon
little pop back up.
That's what I was looking for out of
SpaceX.
S&P back into pre-market range.
Russell little pre-market low retest
coming back down.
Chips just
no bid
all down. Let's see what are cryptos
doing.
Cryptos are just kind of choppy to lower
since the open.
Big banks are strong. JP Morgan's up one
and a half%. Bank of America up one.
Goldman's basically break even.
Order canled.
>> Order filled.
Google and Amazon holding strength.
Google back up to hive.
SpaceX. Good cut. It's still dropping.
Russell new lows.
NASDAQ about to go through lows.
Russell down to previous day low.
Trump issuing new tariffs on vehicles in
Canada,
automotive parts and steel.
Well, unless you got unless you just got
short chip stocks
at the open.
We've got Amazon, Google, and then the
SpaceX setup I took. But
S&P trying to stay back up into
pre-market range.
SpaceX a little dip below pre-market
lows.
PLT. TR dipped below previous day low,
bouncing
MSTR trying to get above previous day
high.
Cryptos being strong.
Kind of like that one.
It's still just kind of in in its first
kind of in its just
range. Kind of choppy, but
I'm going to hold off on anything in
that. But
it's got potential to break out with
cryptos acting like they have.
Bitcoin holding previous day high.
Google trying to make another push up to
high of day.
SpaceX pretty aggressive B bounce after
it flushed pre-market lows.
Tesla finally starting to bounce.
Ben Brown and some Google. Nice.
Microsoft trying to reclaim after some
little bit of wild action.
Amazon looks like it wants to go.
Microsoft big push through highs.
Oh, push through highs, I should say.
Not a big push. Meta recovering.
Watson, it's Monday. Are you trading
today?
Apple going through highs
and Netflix back above pre-market high.
Google starting to move a little bit.
S&P still bouncing. NASDAQ's still a
little bit weaker with the chips.
Still at lows.
Meta
all of a sudden getting strong.
So, Google was the other one I put on my
watch list. At the same time, I took
SpaceX.
Definitely the better horse.
It did dip below previous day high a
little bit, but [snorts]
held pretty well.
Russell just hit a new low. S&P little
dip. NASDAQ close to lows.
Chips all putting in new lows.
It's hard to fight the chips when
they're ready to move one direction or
another.
You got to kind of be on their side.
Although
some of the mag seven are holding up
pretty well.
MSTR is still holding.
hasn't really done much.
Amazon coming back down.
Madna. What's it doing today?
Anything?
Down 8%.
Microsoft retesting previous day high
again.
MSTR new highs going through pre-market
high
order filled.
Order filled.
S&P just kind of chopping around
pre-market low.
NASDAQ still looking heavy.
Uh, I usually do that later in the day.
or like either during power hour or
sometimes I'll do it just Four.
nice Ben Brown STR's taken off.
Did you get into that right at previous
day high?
Should be paying well.
Welcome as All right.
Bank of America and JP Morgan still
pushing.
MSTR still pushing. Nice push.
Mag 7 are just kind of choppy. Google's
still holding up near highs.
Tesla's still weak. Nvidia week, SpaceX
week,
Netflix chopping around pre uh
pre-market high
Microsoft rejecting again.
All right, I'm going to wrap the stream.
I don't I don't see anything else I want
to get into at this point.
I will watch the directionals here for
little longer and if I see something I
will post in the directional trade
channel.
Otherwise, we will be back for power
hour. Everybody have a good Monday.
We'll talk to you soon. Cheers.