Video summary
The video begins with an energetic introduction to a live day trading session on Wednesday, August 26th, where the host outlines the current market conditions before the opening bell. At the start of the stream, major indices like the S&P 500 and NASDAQ were down slightly, while commodities such as natural gas showed gains and oil declined. The host explains his initial strategy involves entering a one-day-to-expiration (1DTE) iron condor near the open but decides against it after realizing that Nvidia earnings later in the day would keep option premiums artificially high, preventing the expected decay needed for the trade to be profitable. Consequently, he opts to focus on equity positions instead, specifically looking for opportunities in technology stocks and chip manufacturers.
As the market opens, the host identifies significant relative strength in semiconductor companies like AMD and Microsoft, which manage to push above their pre-market highs despite broader index weakness. He actively manages a position in QQQ calls, entering trades around 83 cents and averaging his cost basis as the price fluctuates near previous day's highs. Throughout the session, he monitors various tech giants including Tesla, Meta, and Oracle, noting that while some like Apple and Microsoft show resilience, others such as Google and Nvidia struggle to maintain momentum. The host emphasizes patience over greed, waiting for specific technical levels to be tested before making moves, and he engages with viewers by discussing market movers and occasionally joking about the volatility affecting his option premiums.
The trading session takes a turn when the chip sector, which had been driving his bullish bias, begins to falter after a brief surge fueled by a momentary news spike involving Tesla. As QQQ prices dip below key support levels around 710, the premium on his existing options contracts deflates rapidly, eroding potential profits. Recognizing that the market is not sustaining the breakout above pre-market highs and that the indices are starting to chop sideways or decline, the host prepares to exit his position to limit losses. He ultimately decides to cut his trade early in the final minutes of the stream, expressing disappointment at the outcome but acknowledging that the market conditions did not support a continuation of his bullish thesis.
In conclusion, the stream wraps up with the host admitting that the day's trading was less successful than hoped due to the lack of follow-through on key breakouts and the heavy selling pressure in the chip sector. He notes that while Apple remained strong, the broader indices including the S&P 500 and Russell 2000 were unable to hold their gains, leading him to close his active positions before the end of the day. The host mentions he will check back later for a "power hour" if any new developments arise but otherwise signs off, encouraging viewers to have a good rest of their day. The session serves as a practical demonstration of risk management, showing how a trader adapts strategies in real-time based on earnings events and shifting market sentiment rather than sticking rigidly to an initial plan.
Read the full video transcript
Wake up. Wake up. It's time to get
going. Got to catch those runners taking
off like a 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 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. Focus on the patience and
forget about greed.
Good morning everyone. Welcome to
today's day trading live stream for
Wednesday, August 26th.
We've got the S&P futures down 11,
NASDAQ down 119, Russell is down eight,
and the Dow is unchanged.
Gold down 3/4 of a percent, silver down
almost 1%. Notes and bonds a little bit
red. 10-year yield a little bit green.
All plus or minus within a quarter
percent. Oil's down 2%. Natural gas is
up two and a quarter. Soybeans, wheat,
and corn all a little bit green. Euro
and the pound are both down about a
quarter to a third.
Bitcoin down about 1.24%
and the VIX up 1.68
currently at 15.71.
We had uh pre-market
had a couple of announcements.
Uh, US PCE price index, core PCE,
durable goods
market dipped slightly, not much. Market
was pretty much unchanged. Now it's down
10 in the S&P.
I will be entering a 1DTE iron condor
near the open.
And
I had to leave early and forgot to enter
my 1DTE hedged iron condor yesterday. So
I'm going to put one on here at the
open.
Opening bell in about two minutes and
looks like the S&P expected move for the
day under 25 my friends. Welcome to VIX
15.
Oh, good point.
Good point, Joseph T. We do have uh
Nvidia earnings after the bell today
and that could hold up the premium of a
1DTE iron condor.
So on that case I think I will skip it.
This is why we keep you around Joseph T.
This is why we keep you around right
here. Totally forgot about Nvidia.
So, let me pause that
and let me update my today's Man,
so for those of uh you who are new or or
don't maybe understand what the
what that's all about. So with Nvidia
earnings after the bell, the options a
lot of times, at least historically,
have stayed really bid. So essentially,
you're you're not getting the premium
decay because those options on the 1DTE
expire tomorrow after the Nvidia
earnings. And so um essentially you're
taking all the risk, but you're not
getting the premium decay like you
normally would. So that's the basis of
that.
So, I'm gonna
put on a hedged iron condor really
quick.
Just a minute here.
indices bouncing.
Yeah, the one DTE iron condor is always
an S spx.
So, I'm not I'm not taking that.
All right. So, we got a little bump out
of the uh out of the gate here.
S&P still slightly red. NASDAQ's still
slightly red.
Biggest movers
to the upside. Oracle's up four. Meta's
up two. Uber's up two.
Biggest red. MRNA is down six. HIMS down
three. MSTR down two and a half. Coin
down two. Crypto's a little bit weak.
Tesla down almost two.
AMD popping up above pre-market and
previous day high.
The coffee is good this morning, boys
and girls.
Just do you know sometimes it just hits
different.
Watson, how's your tea?
Uh, golf went about as you'd expect from
somebody who's played three times this
year.
All right. So AMD's staying strong.
We got to get this guy a yerba mate
emoji.
Microsoft and so Microsoft and AMD
shown the most relative strength to
start.
SpaceX week, Google week, Amazon week,
Apple week, Meta gapped up but coming
down.
Tesla week and video week.
AMD is pulling back, kind of chopping
around previous day high, pre-market
highs.
Russell still pushing. S&P and NASDAQ
pulling back.
Microsoft pulling back to previous day
high now.
Yeah, MU now playing catchup
with AMD. D SNDK starting to bounce.
Chips. Chips. Getting a little bouncy
now.
PLTR making its way up to pre-market
high and previous day low.
Microsoft beautiful little previous day
high retest back up to highs.
Meta opened as one of the strongest. Now
it's unchanged.
Fill the gap. Watson filled the gap.
AVGO's bounce is getting stuffed.
kind of watching
the cues here if it breaks out of
pre-market high or pre-market low.
about kind of watching four is my first
bias at least in the indices.
Anal looking good.
Rocking the swag. Lando, we got we got a
lot of new folks. We need to do another
uh swag swag giveaway.
Get the new peeps some swag.
Tesla's starting to bounce.
Hondao needs a shirt.
Microsoft poked through highs of day but
back down.
Not a lot of follow through yet.
AMD still rocking. MU kind of popping
back up.
NASDAQ having problems getting through
pre-market high
so are
softies. Little dip getting bought up.
Apple starting to rebound. Amazon,
Google still weak.
Microsoft new highs.
Anybody get in Microsoft?
I just wanted to be a little patient
this morning, but that one is working
nicely.
General Zod, Dark Avenger. Nice.
MU another pre-market high retest
order filled.
Order filled.
Whoa. There's a pop. Something just hit.
Something just hit the news wire.
That was a quick little pop.
just
I mean
nothing too crazy as far as a move, but
Quick
Tesla
back up to previous day low.
SpaceX bouncing.
Microsoft still pushing.
AMD still pushing.
I'm going to add some QQQ
calls to my watch list. I'm going to go
with the 715s if I take it.
S&P still right at pre-market high.
I want to take Q's.
Filled at 98.
Order filled. Closed above the on the
15. Closed above the pre-market high.
S&P starting to break out. Things are
getting a little
strong in the chips.
Tesla's going green.
See if Q's can hold here. Hold and
bounce.
Let me try to add a few more cues here
right at pre-market high.
Added some more filled in 83 on that ad.
So my average is 94.
Tesla getting
getting uppety.
Microsoft still at highs.
AMD is still pushing.
Try to take some off at 110 in Q's if we
can get up back up towards highs.
MU no follow through to the upside. AVGO
back to lows.
AMD carrying the chip weight.
Nvidia's just kind of chopping.
Microsoft another leg up.
Meta finally starting to bounce
a little bit.
IWM getting rejected at pre-market high
a little bit.
Same with S&P and then NASDAQ's a little
bit below as well. So, I've got to be
ready to cut here if we don't bounce.
I haven't even looked at cryptos this
morning. They were weak pre-market.
Little bit of a bounce since the open.
Order filled.
Order cancelled.
Order filled.
need a bounce.
IWM's a little dip getting bought
All right, getting a little bounce in
the cues back above pre-market high.
Bitcoin starting to roll over.
Microsoft starting to pull back now.
Going to need the Q's to rip through
high of day.
MU's dip getting bought up.
SpaceX keeps trying to go green.
AMD still at highs.
ABGO weak down at lows.
Chips need to need need to get strong
for the Q's to push here.
Continuation out of the chips would do
it.
SpaceX back up to high trying to go
green again.
SpaceX catching a little fire.
Q's almost back up to highs of day. I've
had some premium decay here. So, the
options are only trading a little bit
above my AD.
So, gonna need a pretty quick push for
those
zero DTE to start moving again.
new highs in the S&P, NASDAQ, and
Russell
I'm going to move my first profit target
to 105.
See if I can get out of some if we make
another little push.
Order filled.
These contracts are not even back up to
my original entry.
That little dip just sucked the premium
out.
like to see Q's get up to previous day
high or beyond.
S&P hit previous day high, so did
Russell.
Now we need the NASDAQ.
Apple's taking off.
Meta trying to reclaim back above
previous day Hi.
Don't like how these QQQ calls are
moving today.
SpaceX will pull back to pre-market high
I guess those calls got a little bit
juiced on that little one minute
push that Watson $10 billion fat finger.
So then when I got in the premiums kind
of deflated what that's what it's
looking like
Nvidia still red. Google's going through
lows. Apple's going still at highs.
AMD still near highs. MU trying to get
back up.
Uh, as far as DCTMs today, I've I've
still got the one
that I started as a single turn to a
double.
So, I've got a full-size position on
that one.
I was hoping to get that transformed
before Nvidia earnings tonight, but
and then I've got two that expire
tomorrow that have both been
transformed.
So, I probably won't put another one on
today.
Russell pushing new highs. Come on,
NASDAQ. Get it together.
SpaceX holding above pre-market high
PLTR going through high of day
almost.
S&P taking a new high
right above previous day high.
Man, if this if the Q's fall apart, it's
going to be a pretty sizable loss
because like I got in at 83 cents when
the Q's dipped below pre-market high
right here at about 710
80
price is all the way up at a 7-Eleven
and those options are trading at 68
cents now.
So, I need a move up
Microsoft starting to bounce a little
bit again.
Order filled.
PLTR really pushing
I would try to scalp some little dips
here, but I'm already at full position
size on the cues.
S
SNP and Russell just kind of chopping
around previous day high.
All right, Q's back to pre-market high.
SpaceX back in the red.
Got my order ready to cut in the cues.
S&P and Russell both right at pre-market
highs as well.
All
right, I'm going to cut
out.
That was disappointing.
Not mad at EQs. I'm just I'm just
disappointed.
All right, y'all. I'm going to wrap the
stream. We'll see if there's anything
else that kind of shakes out. Looks like
chips are getting really heavy.
Indices are now coming down.
Uh Apple staying strong.
Uh, but we'll be back for power hour. If
I see anything else here in the near
future, I will post in the day trade
channel. Otherwise, have a good rest of
your day. Talk to you soon.