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YIELDMAX WEEKLY DEEP DIVE!! $DDDD
Recorded: March 18, 2026 Duration: 3:55:18Space Recording
Full Transcription
Thank you. Thank you. Thank you. Good morning, Spaces crew.
Happy Wednesday, everybody.
It's a big day.
Good morning, good morning, good afternoon, good evening,
wherever you're out in the world.
Happy Wednesday.
Happy FOMC Wednesday.
Going to be an interesting day. We'll see what this data holds. Of course, in terms of like
price action, I don't know. You know, we'll see. Things have been pretty lame in the past
in terms of like, oh my gosh, FOMC, all this volatility, looking for a crazy move in the market.
It's been pretty lame.
And I don't foresee this exact meeting being much different.
So we'll see what happens.
Either way, we're here.
We're going to be on stream for FOMC.
So it's going to be a lot of fun there.
So it's going to be a great day.
Either way.
Myself and Emp, Emp did finally arrive in Puerto Rico yesterday, for those wondering.
He's here safely, and we found ourselves at Pizza City last night, of course, watching
the game.
It was USA versus Venezuela.
We were watching the game, which was a solid game.
I'm a little sad.
The Estados Unidos couldn't pull it together,
but it's okay.
It's okay.
We came close.
We came back.
Just couldn't get that last stretch,
and it is what it is.
It was fun down at Pizza City.
Half the place was like Venezuela.
Half the place was the Estados Unidos.
We were just freaking going back and forth. It was so down at Pizza City. Half the place was like Venezuela. Half the place was the Estados Unidos. We were just freaking going back and forth.
It was so much fun.
Emp was teaching me more Spanish.
And then while we were out having a great night, having some pizza, enjoying ourselves,
you know, me and Emp catching up after not seeing each other for a while.
I was checking my trading view here and there because, of course, I have automated strategies
that are trading throughout, you know, the nighttime, the morning time, the daytime, whenever.
And while we're out at Pizza City last night, I am up $700 on both my accounts.
That's beautiful.
We love that.
And now I think we took a few more trades this morning on just one account.
I'm up $700.
The other one, I think, is up about $300.
So a nice little $1,000 night
getting paid to go enjoy
some time with Emp at Pizza City
with everybody and watch the game. I mean, it doesn't get
better than that, honestly.
How much better can it really fucking get?
That is just
amazing.
So we love that. Shout out ClearEdge.
If you guys aren't on there yet and want to be,
just code WOLF. You can try it out for free. You don't even have to pay you guys aren't on there yet and want to be, just code Wolf.
You can try it out for free.
You don't even have to pay anything.
So, I mean, take advantage of it if you want it.
With that said, though,
we do have FOMC today.
In terms of other data coming out,
we had PPI this morning.
Core PPI month over month was 0.5.
The forecast was 0.3.
Previous was 0.8.
You see the market is moving.
We are down 0.5% on NQ.
ES down 0.5%.
M2K or R2Y, I'm just looking at the minis or the micros, down 0.9%.
YM down 0.5.
Gold is down 2.8% as well. And what do we have? Silver's down 4.3.
Crude oil up 1.6. Catching a nice move to the upside. So definitely some downside on the charts
this morning. From that, let's see, was it from that PPI? Not really, huh?
Let's see, was it from that PPI?
Not really, huh?
We were already chugging to the downside
before PPI even came out this morning.
So interesting.
Interesting.
Came up, swept out previous day high.
We created Asia and London high, and we've pulled back since down to the previous day low.
So we've just taken both sides of yesterday's range, which yesterday's range was not crazy
massive anyway.
So it makes sense.
But sometimes when you take out the high and the low of the previous day, it can make for
an interesting trading environment.
It doesn't automatically mean it's shitty,
but sometimes it can be a little whipsaw-y, a little annoying,
not a lot of follow-through,
but I'm not going to come in with too many preconceived thoughts.
You know what I mean?
But just something to keep in the back of your mind, maybe.
I do notice when you take out both sides like
that can be it can turn into a rough trading day sometimes but either way gonna be fun got fmc
today that's our only other data point besides the uh ppi that came out this morning tomorrow
we have unemployment claims new home sales and nothing friday so great day. Ahead of us, we had Oclo report earnings last night.
Looks like they had a miss, was it?
Why can I not?
Oh, I have to refresh this page.
It's not showing me the data yet.
Yeah, it looks like missed on earnings there.
I haven't looked at the chart.
I will, though.
Lulu looks like they beat on earnings. DocuSign beat on earnings there. I haven't looked at the chart at well, though. Lulu looks like they beat on earnings.
DocuSign beat on earnings as well.
We have some more earnings
kicking off this morning.
Macy's, some others that I do not know about.
And tonight we have MU,
which is probably your biggest name
to watch tonight.
There's some others,
but not anything I really know of.
Tomorrow morning we have BABA,
Lunar, FedEx after close,
some of these other ones as well.
That's what the earnings are looking like.
Pretty dry, but we still have a few that are hanging around.
Good morning, Will.
Happy Wednesday.
What's up?
Happy Wednesday.
Good morning.
How are you doing?
Doing good.
I need to – I'm –'m curious why we're kind of...
I haven't really looked at any news yet or anything,
but we're getting a nice little downside move
from both edges of the range.
It wasn't just from PPI, because that came out way later.
You got any thoughts?
Yeah, there were some headlines on oil or Iran,
and then oil started to kind of spike.
It was down, I believe, down in the 93s, 92 actually overnight.
I think it hit 91, 60s, and oil just also not a big candle.
I believe Iran said that they are targeting more sites
that were considered to be safe.
And now they're going to go after some additional sites in the Gulf.
So you've seen oil rally like four or five dollars.
And as soon as that happened, the market immediately took a nosedive and rates started to move higher.
And then on top of that, on top of it, you had the hot PPI number, which was hot everywhere.
Month over month, up 0.7 versus 0.3.
The year over year came in at 3.4.
XFood Energy was up 0.5.
So, I mean, you just had a hot PPI number, which will feed into the CPI data and then also the PCE, which we won't get into until the middle of April because of the government
shutdown. So right now, all eyes are going to be on oil.
And like you said,
we just took out basically all of yesterday's range and that's going to make
it for an interesting morning.
But I think first level support I'm looking for in the June contract
in ES will be 67.15.
See if we can do something there, if that may hold.
Or if we do drill lower, looking for that lower trend line in ES,
which is going to be right around 66.70-ish or somewhere in that neighborhood.
66.70, 66.80 if we do get all the way down there.
But keep an eye on oil and see if oil continues to rally back towards the 98 to 100 level.
level greed yeah there were some some good trades last night i just had the automation running and
Agreed.
shit man i went to pizza city with the amp and we had some we had some drinks and some pizza
watch the game and yeah i got paid a thousand dollars to go do that with them last night
let's go the uh gold and are getting absolutely annihilated this morning.
Silver down 4.25% and gold almost down 3% here.
Really in the last, like, I don't know, last hour or so,
gold just fell off a cliff.
And you are testing level support here in gold right at 48.50s.
Maybe a spot for a bounce.
So we'll keep an eye on that.
But it is a definite getting smashed on the gold market right now.
So based on that, I think it's mainly the dollar just caught a huge bid up about 50 cents.
And then rates across the curve moving higher.
The PPI data and oil moving higher.
You kind of got the perfect storm of bad news.
And this market's going to continue to give you that.
You think you have another morning of positive futures,
and they're just coming to take it right away from you.
Yeah.
And we got a Fed. We got a Fed meeting today.
Oh, yes, sir.
I think it's
like Ryan was saying. I don't think it does
much, but I think we get surprised.
I don't
I think that the move should be relatively
muted if anything i think what they will say is that they probably will look through higher oil
prices being transitory and that it's a um it's obviously not a it's a it's a headwind to growth. So if oil continues to move higher and the market is already on
interesting footing, the jobs market that is, we've had a negative payroll. I think it's very
hard for them to talk about even considering raising rates. That's not even in the cards.
There's no way I've seen people saying, oh, they're going to raise 50 or something, but no chance.
They're not going to raise rates into a geopolitical environment
where there's uncertainty for the consumer,
uncertainty in the jobs market.
That would be wild.
That's not something that's in their toolbox.
They will probably say if it's sustained higher, they may be on hold.
But obviously they've got both sides of their mandate, which is inflation
as well as the jobs market. So what could happen is if the jobs market were coming a little weaker,
let's say we get a weaker payroll number in April for March, then what you could have is the front
end of the yield curve, the short yields and Fed funds stay elevated, or is the front end of the yield curve that the short short yields and fed
funds stay elevated or maybe the long end of the yield curve actually calms down and goes a little
bit lower if there's risk of stagflation or risk of a softer jobs market with high oil that would
obviously limit growth in the economy so if we that, maybe we see longer term yields actually fall
on the backside of that, depending on what it is. But I think for today's trade, oil,
rates, the dollar are your three things you want on your chart. And then we'll take a look and see
what the credit markets look like. Those have still been on the weaker side the last two weeks or so in March.
So I think that's kind of where we're at.
Should be an interesting day.
Yeah, I'm ready for it.
Yeah, gold is just absolutely drilling.
I mean, kind of surprised there on how weak it is.
God, gold is getting smoked.
Wow, Tammy's levels from yesterday.
I don't think you were on the stream, but we had Tammy come on with the Futures crew.
And she actually had a bunch of levels drawn out on gold for lower that she wanted to see us retest.
And it's like right into the spot.
I forget exactly what level she had, but she nailed that.
Fuck.
Very nice.
Yeah, I mean, there's...
I don't know.
I don't know.
There's just no...
That is a massive rug in gold.
If the market wants to hold 860.50,
I could be interested to look upside,
but I mean,
if we lose that and start to get flushing through that,
I got to think lower into some of these next four-hour lows
that we have in like 720s and 680s.
But I'll look for a little bounce here going into open i will say like if you look at gold right here on this 48 50 level
look there is some little bit of support here you could get um not saying you get a bounce but you
could you could look for maybe if we get some candles here um
you do have a previous low right in this area that uh maybe gives you a little bounce here
but yeah es i'm looking at 68 15 on the june contract remember futures did roll
futures did roll to the M.
If you're on TradingView, it's MESM2026 is the front month now.
The current month futures should be displayed on everybody's system
as futures roll will be.
Really, it's Monday of this week is when everybody rolls,
it's Monday of this week is when everybody rolls,
but the contract expires on Friday.
So I'm looking for 6715.
And then, you know, NQ,
maybe we trade back to that 805 area.
You know, 780s to 800 or so
would be probably your next area,
maybe 100 points lower.
But right to the top of the range, really.
I mean, that 25-200 area last night was,
or this morning, overnight session,
it's just a great short area and do some prior resistance.
And he got a couple hundred points, but that's fallen now.
Let's have a great day.
If you guys are just getting in the spaces,
make sure you're liking the spaces.
Maybe throw a comment, good morning in the chat.
Repost the spaces so we can get as many people in here as possible.
Going to be a great day, as always.
See if we can get some nice moves before FOMC, hopefully.
Because I definitely really don't want to be trading during all that.
But we'll see what we get.
I've had plenty of days where I just sit out on this type of day,
so I'm willing to do that if that's the case,
and I don't see anything very clean this morning.
But yeah, whatever the market wants to offer.
Not going to expect a whole lot though.
About 10 minutes to open.
Invites are still
so weird on
X here.
I took a small piece of gold down there at 48.44.
Where's that?
Let me go back to my other screen.
Yeah, 48.46.
Just to see if we can hold this level for a small bounce
Because that just been absolutely drilled that and silver both of them silver looks a little weaker
Well, I'm gonna see the gold will hold this level.
Yeah, actually, now I'm looking at NQ.
That was a phenomenal short setup into the 25, 180 to 200 level.
That ton of resistance up there, just a great scalp opportunity against that resistance level.
Just perfect, perfect area to lay out some shorts.
And look at that move.
News or not, that's a great spot. There it goes.
Gold.
I just sold it.
That was a – took it all the way to 60.
About 14 points in gold there.
Just got filled on that one.
Probably a little bit more.
I could stay in there,
but I'll take it.
Pre-market lunch money.
Is ClearEdge running a promo?
Somebody asked.
Dude, you can use code WOLF and try out the platform for free.
You can go try out any of the strategies for free.
The only thing I think you pay for is like whatever funded account you're trying to run on it.
So, I mean, it's a pretty killer promo right now.
It's about seven days long, I will say, though.
If you DM the ClearEdgeTrades account, which if you can't find that account, go to my personal profile up here, the Jordan account.
I just made some posts about ClearEdge recently and tagged them so you can find their tag there.
DM them and be like,
hey, I came from the spaces.
Is there any way I could get a 30-day free trial?
They've been giving it out to a ton of people that DM them.
So I would say that.
Try that if you want a longer free trial.
Otherwise, it's seven days and it's completely free to try it out so phenomenal promo
i'll throw the link top yeah this hat this headline just reading some of this out it says
um iran vows to strike energy infrastructure previously saw thought that was safe um iran
says upstream oil and gas are under attack reroute some flows reiterates new rules
as straight of hormones traffic remains very low to zero
this blockade has now been one of the worst disruptions to oil flows ever in the region.
So another ratcheting up of the rhetoric by Iran.
We'll see if this bid in oil can hold today.
I think that will continue to put pressure on the market if it does.
If oil stays elevated, I would look to probably fade rallies higher if we do get them.
Probably that first level in ES, you could probably go as a trade, 67.64.
Quarter, probably up to like 66.67.
That's probably your first area.
If we pop out of the gate, I would look to probably fade that level.
And then to the downside, if we drill a little lower,
67.15 to
67.19 is probably your
swing low there.
By the way, I see
somebody asked about where could I find this strategy.
There's a whole marketplace on ClearEdge,
so on the platform. It's beautiful.
It's all right there in one spot.
Charts to connect to your trading view.
Yeah, I want to get that set up.
I started it, and I was like, you know, I'm doing so much other stuff.
I didn't have time to mess with it.
I know, but you got to do it because once you do it, then you don't have to do anything.
Do you have it running in the background on your system?
I got to get with you and set it up.
Yeah, so I have multiple pages in my trading view.
My trading view screen is now in ClearEdge.
I don't go to tradingview.com.
It's all on ClearEdge.
I have my normal trading screen where I'm taking my trades.
Then I have another page where it's like the market ninja strategy.
Boom.
I can just click that page.
It switches to that page, and I can see, like, all the orders happening there.
And then, you know, as many strategies as you have, you can just put at the top and go page to page to page all day long.
And I just have it all open in the background.
And, like, last night, I just had my computer on.
I went to Pizza City for me and Emp were there for hours.
We watched that game.
We hung out, had some drinks, had a pizza.
And I came back, and I was like, oh, shit.
I made money for doing all that.
It was great.
It's been pretty consistent, too, through the nights.
It likes its nighttime trades, I've noticed.
A lot more recently, I think, than New York session.
Like, it does better.
It's very interesting.
Great.
But, yeah, highly recommend everybody. Try it out. And
there's tons of different strategies, you don't have to
run the same ones I do. You know, find what works for you, you
don't have to run any of them, you can have your own strategy if
you want and code it and I can just run it on clear edge. The
way and if you guys have questions, feel free to DM like
the Wolf Friday account here, the Jordan account or you could,
you know, talk to the boys directly there at ClearEdge.
You use that link, get him for free,
and there is a Discord as well.
They're super helpful in there.
You're not left high and dry,
is what I'm trying to say for everybody.
Morning, Knots.
Happy FOMC, baby.
Look at that bounce on gold.
20 points off that level there. nuts. Happy farm C, baby. Look at that bounce on gold.
20 points off that level there.
Getting a pop in the open here on pink as well. Yeah, there was a nice
reversal setup down there at the bottom.
Flip it in reverse.
ES back to
64, 65 if we get up there.
It's those lows
overnight yesterday's low and the overnight low
that gives you a good trade and it's the 15 minute nine period as well
yeah and interesting morning though yeah if we don't see if we see oil just kind of stay elevated but it doesn't
um continue to just move rapidly higher i think we'll be okay for the short-term hop here.
We just don't want to see it north of 100.
I think that starts to spook the market a bit more.
Emp forced me to change my whole phone into Spanish.
Because he's like, dude, it's a hack and you'll learn so much quicker.
He's right.
But everything is in Spanish on my phone now.
Interesting.
Absolutely everything.
Ollente is listener.
I didn't know that. And hablante, speaker.
All right. Mark it open oh no not yet
two minutes two minutes
hold your horses
do do do
do do
hope we get a nice
little ripper candle out of the gate we can sell into that
i don't know if we will but
i just think you got to be prepared for anything today
I just think you got to be prepared for anything today.
Jeez, I mean, they absolutely killed gold.
Killed it.
Whoa, OBS updated.
Weird.
Whoa, whoa, whoa, whoa, whoa.
I can't see shit.
Oh, there we go.
OBS scaring me.
All right.
We're going to get a little long
skiing in the oven?
Or is this fake?
Is this fake Louis Vuitton?
Yeah, I'd like to see us.
I don't know if we can get along.
I'd like to see us trade back up by 20 points.
I'm not sure we're going to get that move yet.
Dude, I want it long, but I might be swallowing those words in 10 seconds.
I'm going to go right to 6450.
I'm afraid.
Casey, good morning. I'm looking forward. Good 6450. I'm afraid, Casey.
Good morning.
Good morning, Spaces crew.
Bomb thing.
Morning, guys.
Bing bong.
Good morning.
Fuck.
Let's move.
Wow.
Damn it.
Fucking...
That was too clear.
All right.
sweat previous day low.
Happened in the hourly order flow. Respecting that so far. Still been a lot of heavy selling pressure, but we'll see if we try and turn things around
a little bit this morning or is it just a pop to short?
Right now it's not looking crazy strong, but though it's a nice little bounce into the
open.
Well, now we have a gap directly above SPX and directly below SPX.
Double gap.
Yeah, so if SPX breaks $66.81, there's a gap to fill, like $50 lower.
Then you have the gap up over $6,700, small to like $6,715.
It makes you short $950s?
I actually shorted way above a long time ago.
Nice.
Minx was short like two hours ago.
She's in runners.
Dude, I was freaking making money all night.
Me and I were out of Pizza City, dude.
I was just making money on automation.
It was phenomenal.
Like $1,000.
We've got a bearish bias
so let's see
I'm kind of waiting for us to have a pop
you know
and then
take a short
yeah I want a short
I'd like to get ES around 65
that's where I'm looking
I don't love the levels levels as clean but let's see
maybe right at 25k
that was a great the 25 180 to 25 200 was the best short that was the spot
i'm just waiting me as well pop drop and roll i want to stop and then drop it and roll it I'm waiting here.
Right now we're in a little chop zone.
Oil pressing here towards 98, 97, 75.
Did we reject that 957 again?
Well, let's see Here goes oil.
There goes oil.
They're holding...
Why don't we go on
over uh 965. oldie locks you giving me anything yeah
crude oil is flying ready yeah crude oil means business right now
stay at home
Microsoft week
Nvidia looks horrible
below 181 now
look for 179
9 to 4
and then
what do you got on the
staples week, materials week
healthcare
real estate, guess what's up energy, industrials and everything else is to the downside staples week, materials week, healthcare,
real estate, guess what's up?
Energy, industrials, and everything else is to the downside.
Yeah, nothing.
Tesla don't look good.
Apple, off the lows.
Right to resistance.
What are individuals doing?
Google's ripping.
Yeah, Google's hot.
Rocket Lab's down 5.2%.
What happened?
Oh, shit.
Meta, big gap down.
Amazon, kind of middle of the range.
Broadcom, moving out.
AMD and Netflix.
Yeah, Google's hot right now.
Yeah.
Just took out, look for 312.40.
Your next spot there for Google.
Cooking.
Okay.
I think we push higher a little bit before we come down, but.
All right.
That's my thought too.
We push higher and then.
I think it's 970s, 980 actually.
I'm not going to trade it. It's 980, actually.
I'm not going to trade it.
I'm just going to launch.
Oh, that's a nice bounce.
Can you clear 970s?
SPX right at 6700, which is,700 to 67 times a big level.
Might want to go retest 25,000.
That's kind of
what I was looking for is 25k.
That makes sense here, man.
Go retest.
I like that area.
If you do want to shorten that area,
that's probably the spot.
Give or take 20, 30 points around that level.
Yeah, 990s up to 20s maybe.
Yeah, volatility is still a little high.
So probably not going to react perfectly off of it.
But looks like I want to go grab that.
I'm not in anything yet.
Now we wait.
Come on, push it.
Push it up.
Cook him. Cooking. Rocket Labs 6.4% down.
It was up a lot yesterday.
There was news after hours yesterday.
That's what the drop is at 415, 420.
I can't remember exactly what it is.
Whatever it is, I don't think it's too bad
because it's literally just an inside candle on the daily
even though we're down 6.7.
When I look at that,
I'm not intimidated by that at all
when we're opening inside the previous day's range
and just inside candles so far.
It said that it announced that it was
raising another $1 billion of cash
through additional share offerings.
Hmm, that's not bad. So that was raising another one billion dollars of cash through additional share offerings
that's not bad so that was that was the news after hours yesterday after i think closed yeah i think intraday definitely looks nasty but overall i don't think that's too much of
an issue right now we'll see keep an eye on it
see if we can pop up a little bit higher
on spying queues here.
Let's see.
Your calls are above your puts.
Looks like you have some
negative gamma sitting around 670.
670?
Is it who?
As soon as Wednesday.
Today's Wednesday.
Yeah, I might be looking for a short up here.
Yeah, 65 is what i'm looking for yeah i'm gonna set a few minutes to let this play out.
Just keep waiting.
Just keep waiting, just keep waiting.
Goldilocks is trying.
Goldilocks, you gonna try and get spicy?
Come on, push us up there. Let's go.
I like this area. Come on, yes.
Let's go another five, six points.
Let's go another five, six points. Let's go.
I threw a short in Google at 312.40.
I got filled right at that previous high.
A little resistance.
It's up about 40, 50 cents.
I'm just scalping it here.
It was at 980.
Stop is breakeven. I want to see if they start to reject this area if they do then i take a short
yeah this could be setting up for potential short yep i want them a little higher
we had that ming saul go go off go off earlier to go long.
About to hit that 25.
It was down at 24,864.
Nope.
It looks like we're about to go higher.
Maybe 25,026.
That's like 100 points below.
I'm waiting for a pop over 670 on SPI,
and I'm probably going to slap it short a little bit.
Yeah.
60380 area on Q's.
Come on, NQ. Rally up there.
I know. I just wanted to get up to 25,000 quickly so we can...
Short. I know I just wanted to get up to 25,000 quickly so we can. Here we go.
Push it.
I'm like it's stuck here.
Every single day.
Just sitting at 15-minute 9 period.
Really?
NQ traded up to 990.50.
That might be the spot there.
I hope that's not it.
I hit me 15 there on the 15 minute.
At 249.90.53.
There's 50, 40 points.
Damn it.
Yeah, it's a little upsetting.
Just didn't wick high enough.
Yeah.
It's okay.
If we go back up to 960
and reject then I'm getting into a short
because one thing I don't want is this could be a cup
and handle
oh man I wanted that area
I thought ES would get a little
bit better bid up there.
Here, Google now. That's up about
$1.50 from those
from that level. It's a good trade.
We got AMD
pushing higher.
Netflix pushing higher.
Tesla just hit highs at
30 seconds ago.
Oh, by the way, IGV's at highs.
That's another thing.
A lot of, like, back and forth.
All right, I covered Google there.
Out about $1.70.
Profit.
Okay. Watching to take a short if we reject here. Okay I'm short.
Why did you go back up because it looks like a cup and handle. Come on.
I'm still waiting.
If I get wicked out, which because I have a 70 tick stop loss.
And if we come back below this 957, I re-enter a short How many points is 70 ticks?
It's actually a lot
It's like 16?
Yeah, I used to do like 32 ticks
and then I moved to 50 ticks
but with the volatility
lately I had to adjust it to 70 ticks
which I do not like
Yeah, that was definitely okay i stopped out but
if you think it's 16. yeah 40 well four times 10 would be yeah that was a cup and handle that was
a handle oh It's okay.
All right.
25,026.
Come on.
Close it. NVIDIA trying to firm up a little.
Apple is green.
Tesla is green.
They just can't.
Come on, NQ.
Push it.
Let's go.
It should.
Let's see that 25.
I got limits all the way up to like 20.
25 all the way up to like 20. 25 all the way up to 20.
Layered in.
That's okay.
Yeah, about 5-6.
Yeah, about 5, 6.
We'll be back on that 67.10.
That's what I want to see.
On SPX.
67-10, 67-13.
For my next zone starts.
Come on.
A little more push.
I know.
I literally just told myself, I was on the Discord,
I was like, watch this be another double weight short.
I wanted to go a little bit higher,
and they just slap it.
As soon as we get below that 960, 957,
I'm going to reenter short.
We had a slightly little higher high and that's not
yeah they flipped this candle red yeah we'll see just waiting
yeah cues wouldn't run into that resistance zone at like 603
and q a little different.
40 seconds until this candle closes.
Damn.
We've already been open for
20 minutes.
There's a problem.
I don't love the
shortest match if we retest it. That's a long w What a snooze fest. I don't love the short as much if we retest it.
That's a long wick.
Watching WDC and Rocket Lab for possible longs when they find a bottom here.
Okay, my hand is on the trigger for a short.
If we can go below, come on.
Oh shit, WDC did.
I think I want to scale into it don't say it
okay don't say it
i'm just waiting to see what all this level or if we go below Are we gonna flush? What are we doing?
What are we doing? It's holding so no entry. I needed to like go
below and then retest that and reject otherwise it's holding that key level.
I'm living life right now, mate.
Till it's over. Till it's over.
But it's over but it's all i'm short
one more time one more time
which market makers in the audience come on i. I think Frank's here.
Frank, can you please leave?
Gap getting a really nice bounce off that weekly trend line.
Come on, baby. Give it to us come on mama come on little mama
drop that thing 12 points watch that be the freaking spot again if they flush it here i'd be
so bad i think they probably will flush this baby down i. I just had these contracts pulled up at like 340.
Now they're at 390.
Ugh.
Come on.
I think I'm going to scale a few out, actually.
Disgusting.
Yeah, they're all coming weak.
Ooh.
Ooh, DraftKings.
Come on.
Yeah, Google rolled off the top there.
Whenever you closed that short, I was like,
I honestly like to enter in right here.
That was Target right there with backtesting the 310 spot.
Yeah, Oil's pressing it now.
Over 98.
Traff King's pushing for 26 over previous day high.
Walmart's getting smacked.
I'm allowed to say that because Em's not here.
Yeah, Russell probably gets hit too here.
I... I hate everything about you.
I don't like that we've got these long wicks in the bottom, though.
That's what she said.
Affirm is ripping. Cup and handle on the one minute?
I mean, you could articulate a cup and handle still on the five minute.
Yeah, but you need oil to calm down a little bit.
This oil just continues to be at the top of the range here.
If you get oil to back off, you can probably have something.
BBIG is at bottom.
BBIG.
BBIG.
I turned $300 into $10,000 in a week trading that thing.
That was stupid during COVID.
Now that thing is worth less than a penny.
Can I just break?
Like, what are you waiting for?
You know we're in a short.
Give it to us and then do whatever you want later.
Come in.
Nasty cell candle on Amazon coming in.
Mm-hmm.
What's up?
AMD is flying here.
New highs.
Nvidia is holding up.
I missed that WDC long.
It's already up like five or six bucks here.
I did not expect it to just rip right there.
Banks are actually popping up a little bit.
JPM just got a stick.
Yeah, your weakest is Staples.
Probably the boys over at Walmart are getting smoked.
Yeah, Walmart and Costco didn't have a good day yesterday,
and I think they're both still moving a little bit lower right now.
Ooh, Walmart down 1.5%.
Getting smoked.
Don't say that to him.
I know.
We're only allowed to say it because he's not here right now.
He's probably listening.
He's going to be pissed.
Probably.
He's going to text me in a second telling me to shut my hair.
I love Walmart
I just don't love the price action today
yeah
I do not like
I don't like Walmart
I like Target
hell no
hell yeah
Target is way overpriced
for their shit
yeah but it's the ambiance in there you know
i mean i agree you don't really see anyone in there in flip flops in a row throwing hands at
2 a.m make sure you guys scale some out come on i mean i don't. We're in a really tight range, you guys.
It's absolutely nothing.
Definitely got that one-to-one reward.
Rip it.
Right here. Rip it.
Do not rip it.
I'm trying to go short.
Well, you should have gone short when I told you.
A 57.
No, it wasn't high enough.
It was actually.
And it was actually I had 25,000 as well. But I missed that. It wasn't high enough. I was actually. Actually, I had 25,000 as well,
but I missed that. It wasn't high enough. I need it higher.
Because it got to 90 only.
Also, though,
I'm looking to take some putts,
so my options
would be up like
6% when Minksy's full port
short, making 10,000.
She's like, I'm up 200
ticks. I'm like, I'm up 200 ticks.
I'm like, it's only one
five minute can. I'm only up like 8%.
There we go.
Atta girl.
Drop.
Drop. Drop. Drop.
Drop. Drop. Drop.
I have this
quant engine that I'm looking at
and the shit is on point.
It's not even funny.
You're a quant?
No, no.
I said I have a quant engine.
I still think you're a quant though.
Careful.
Careful.
Maybe.
Never know.
Never know.
Can't, you know,
the key to success is never to release everything that you know.
Maybe.
Zero.
All right.
I got to do something here
I don't love the short as much here
Like I want it to go but we need some follow through
We need it faster
Yeah this range That we've been in since we need it faster or yeah so this is this range that
we've been in since we've opened is like pretty freaking tight also we have data in like a few
minutes don't we what do we got um do we have anything yeah it's nothing big yeah
oh no we don't yeah factory okay So we do have something, yes.
All right.
All right.
Factory orders, and then you got Atlanta Fed inflation expectations,
which I think actually will have a little impact on it.
Runners.
I really need to adjust my stop losses.
I'm still bearish.
Yeah, the tape is not great but amd is still ripping now over previous day high and pre-market high wow wdc i really fucked that one up holy shit
i'm a loser whoa Whoa, whoa, whoa.
Let's talk highly here.
We're all winners.
What's that song?
I'm a loser, baby.
So why don't you kill me?
Is it like that?
Wait, wait.
How did I make that up?
You probably made it up. I'm going to look it up.
Give me a second.
I'm a loser, baby.
You're not a loser. You're just not a winner.
So why don't you kill me?
So why don't you kill me?
It says loser. The song is by Beck.
What is it? Are those the words?
Yeah, it is.
What?
I've never heard of it.
US Factory Orders comes in in line at 110.
Really?
I'll play it in a little bit.
US Factory Orders in line
110.
Which restaurant consumer
would win in a fight?
Waffle House versus Burger King?
Waffle House.
They've been preparing for moments like that their whole life. They fight. Waffle House versus Burger King. Waffle House. They've been preparing for moments like that
their whole life. They work at Waffle House.
They gangsta.
Gangsta.
Hit them with that full poor short.
Motherfuckers be sitting at the bar
drunk, talking
smack. That cook will turn around with that frying pan and smack the shit out of those people.
Waffle House employees do not care.
It's only if the Waffle House is directly next to or across the street from a Walmart.
And or like 7-Eleven gas station.
And they get like superpowers
yeah
you don't fuck with those people on the 2am shift
let's see
alright
JC I might be spreading them
man I've been saying that all week and i
still have yet to do it every day i've had news to pay yeah these spreads have worked well in this
the 6700 is kind of like a magnet so so the company that you sent me though i can't link
that to weeble though yeah so the brokers that they have, I'm in there right now.
Let me see who they have.
Trading accounts.
Yeah, the only ones you can do it with is Schwab, Tradier, Tasty Trade, or Trade Station. Trade Station is the other one.
What's that for?
Option Alpha, which is a...
You can build bots that do automated option strategies oh yeah and there's
like a big community that you can like they list tons of bots you can people are building stuff
and then it shows like the win rates and pretty cool i do a little of both i do bots open them
and then you know i'll watch them and then I can manually trade around them. But so far, so good.
The only issue with having an Iron Condor on SPX going into FOMC
is you would hope that it would burn premium,
but you could see premiums, honestly, start to get inflated.
There's 19 points in this one 19 very true
so be careful scale out
yeah i know i took some scalps you know
come on yeah like one of my botches open up a call spread that expires tomorrow
we'll see.
Yeah, you're right.
Because of FOMC, we may do nothing.
Okay, there we go.
Scale a little bit more out.
bit more out my stop losses in profit for the runners
damn amd dropped everything dropping telling y'all we bear channel yo for the next few hours
We bear channel, y'all.
For the next few hours.
And then whatever happens later happens.
Oh, my God.
WTC is ripping.
What the fuck?
Bought it right back up.
Yeah, they did.
About to get stalled out.
Yeah, oil coming off a little bit here.
About 20, 30 cents off these highs.
40 cents now.
Very interesting just how correlated the market's
moving to the price of oil i mean yes oil caught that big frank's warning um market got
rugged right away yeah frank's been saying that for the past couple of weeks i mean yeah the
correlation yeah dead on is correct you have to like if, like, if you don't have that on your chart,
you're not watching a low, you're making a mistake
because you've got to keep that because it's moving so much.
I mean, you have a $4 or $5 move today off the lows.
That's for sure.
Could just be choppy into uh maybe into the press conference yeah
come on flash it to you and more let's go come on although i don't think i mean the expectations
obviously are i think relatively muted i just think it's going to be more about his commentary
about whether we've got the dot plot today dot plot and then whether or not they's going to be more about his commentary about whether or not we've got the dot plot today.
Dot plot.
And then whether or not they're going to be able to look through the oil
price spike is,
you know,
not being as inflationary at least for,
for that.
They're not hiking.
Obviously this is what I was saying this morning.
Like you have if we have higher
oil and jobs continue to be a little bit on the weaker side that is not a case
for them to be hiking whatsoever they will not hike into that into job
weakness and high oil because it's geopolitical risk it's not a growth
factor not hiking into economic growth they would be hiking into potentially weaker growth longer out so longer term inflation expectations
would probably be lower due to weakness in the economy so it's short term
watch oil here see if it's uh it's breaking a little bit off these highs.
See if this will flush a little lower.
You might get a little pop in the market.
Starting to roll slightly.
Okay, Rack-a-Lab, I'm long.
Starter for $327.73 calls. starter for 327 70 73 calls
yeah oil fading a little bit here it's about a dollar off the highs now gold big bounce back off that level i called it out right when we started it's up almost 50 bucks Thank you. okay AMD getting into that 200 level here if AMD pushes higher it's 202 and I'm a big shorter 202
on AMD uh yeah just for intraday.
Yeah, like a scout? I like it.
I agree.
Yeah, I like that.
And a 202, you said?
Yeah, right around that 21 EMA on the daily.
Yeah.
Yeah, and you got those
prior highs from the 10th and 11th.
Or, I'm sorry, prior lows from like March 9th and 10th.
They were $5 from the low in pre-market.
Straight up.
Always.
I love those mean reversion plays.
They always worked really well for me.
I'm a reversal trader, so.
That's key.
Yes, indeed.
Yeah, AMD's still pushing.
NVIDIA off the lows.
Watch NVIDIA at 18350.
Tesla trying to firm back up.
Apple.
Then Google kind of all off the bottom there Chop chop chop, chop here.
Yeah, really choppy.
Ping pong and back and forth. Thank you. We have literally not moved
got rough
Thank you. um
okay
AMD still pushing higher
yeah meta over 621.
Google's starting to weaken up.
Google got a nasty candle there.
Microsoft, same.
I got short on Qs there when it lost yesterday's low.
Again, we'll see.
And they've been toying with this thing.
Very tight range.
Down new lows.
Spy looks worse, to be honest.
Yeah, Q's looks like it's going to give it up.
It needs to flush it right now.
Q's, come on, Q's.
If you break here on SPX, you could just instantly drop like eight or nine bucks, and that's going to take you back to that 66.81 when you have that big gap below.
Should be new lows right here on SPX, it looks like.
Yep, there looks like. Yep.
There it is.
Yep, what up?
Now, is it a long again?
And then just back up?
It's up and down all day.
I'm still waiting to go short.
I just wanted to see 670 on SPY.
The energy on Q's feels like it's going to crack about a dollar or so,
so we'll see.
Yeah.
There you go.
That's a nice candle.
Oh, we're going to go down. Let's see if SPX just accelerates straight to it.
10 points from Lowe's.
66, 81.
Let's see.
No bounce, just straight knife.
Let's see.
There's 90 to 83.
Oh, straight notch. Straight to 83. Oh!
Straight notch.
Straight to it.
Love it.
Love it.
Let's go.
And did it just hit 81?
Just broke down with 82.
81.8.
Now we're sitting on cap.
Alright, I'm trimming here.
If it stays under 600.9,
I think we get another move down. And we're in the gap. Now do they want to defend it or fall $50 on SPX?
Part of me wants the long ES right there.
Off like 34. man I feel like I've kind of been
you know
really expending a lot of energy to
like for really small moves lately
yeah
yeah yeah yeah yeah yeah yeah yeah yeah yeah you think maybe that changes after
FOMC and OPEX and all that other
stuff this week
hope so
yeah
I mean
I would love to say yes but like
until we get out of this range nothing changes
we are in a brutal spot
yeah what's it been since like November
something like that
it's been stock
you Thank you. Oil still cruising to the upside. So. So.
So far, it's short the pops kind of day. Thank you. Okay. Yeah, that 600.9
on queues,
you see them step in and save it right there
every time.
Mm-hmm.
See if I hold this.
Any lower I'm going to write it down
but we'll see.
Yeah.
Yes, looks like it'll take up the low
first if we keep dropping.
They just stepped in and saved it again.
For now. Alright, I'm short.
That's what it is. Let's go.
Give me the thunder flush, baby.
Let's go.
Thunder flush.
Minxie, work your magic.
I am.
We've been short for a while.
Scalping the shorts.
This morning.
If we clear the pre-market low there, I think we see 599.1.
Okay. Thank you. Yeah, it still hasn't taken out the low.
Let's see if we can do it here.
IB is about to form in eight minutes.
We should take out the low on that Thank you. gold stopped ripping hold back a little bit Thank you. I don't know.
I don't know.
Format below and take that out real quick.
Here we go, Q's. Let's go.
There we go.
There we go.
There's some acceleration.
Here we go.
A little lower.
Come on.
Here we go.
Here we go.
Trimming.
Beautiful.
All I wanted was CIS-70 on SPY to go short.
One more little move.
Come on.
You got it.
28 cents away.
Q's is finally starting to
give it up some.
That should help SPY.
Where's Havscap on SPX?
My friends! My friends!
My friends!
The good guys win!
6,660.
So watch that on SPX.
Trimming some more at my target.
Oh, God.
There you go.
There it goes.
Oh, they're just going to blow right through them.
The quant engine didn't lie.
The minxy quant is working.
The minxy quant.
I wish.
Minx with the jinx. The Wicked Witch
of the Midwest. Love it.
I just have
connections. Yeah, I'll know.
That's it. Just let us know
whenever you're pushing the nuclear button, okay?
Oh, gosh. Gracias. Further down, I've got 597-ish.
There you go, Spy.
That's a nice candle.
That's 120 points. I'm testing out a different strategy, you guys, because my stop loss is always tight,
so I'm testing some stuff out with a wider stop loss with take profit like a little bit different.
Just 770 726 really try to send this down.
Hi, 798. hmm is
Thank you. get the sniffles and
what's good spaces Good morning. Did y'all jump on the short train?
I think it's funny that...
Yeah, you know, it's funny.
The whole TWL team is on the Wolf.
Like, it's just...
This is...
Awesome.
Love it. We love it.
Brady, I think you and Jordy...
Oh no, Jordy moved.
I know, yeah, I know.
Right when we meet,
I moved
3,000 miles away.
Rough.
Across the world.
Yeah, but in a sick location.
Oh yeah,, yeah.
Oh, yeah.
Sorry,
Jordy, you can come back to California for that Field of Dreams
reggae show.
I took full eggs on these shorts.
Love a good event.
Maybe we see a little bounce.
But I'm still thinking we could get down to 800.
We just missed it
good god that's loud holy cow damn all right might be just slap that thing
just slap that thing
i'm still sitting here, just chilling, minding my business.
Ooh.
MU has earnings tonight.
That's going to be a big one to watch.
Brady and Reese and I both caught that pretty nice short.
Let's go.
That respect trade.
I heard that train coming down the coast and the boys got on.
Damn, I've been talking to myself.
Yes, sir.
Yes, sir.
Yes, sir.
Yes, sir. Okay. Okay, rejection there.
Two minute 90MA tap.
And three minute.
Both at 860 right there.
865. See if we go lower.
So again, today I may not do spreads because it's FOMC, but if the market continues to grind down here, I will do a put spread.
Heard.
You heard.
Yuzo? you heard
Yeah, I think Rizzo's still sleeping.
Oh, yeah.
Oh, yeah.
Yeah. Thank you. Thank you. Spy looks like it wants lower.
Yeah, I took a short.
I'm hoping to see a low a day.
Just on this little pop into the 40s.
no Thank you. yeah i'm just waiting here being patient i already have one trade that worked out really nice.
FOMC, we still have three and a half hours.
Yeah, we got a little while.
We'll be on stream for all that.
Same for all that.
See if we get new lows.
Come on.
I added one, like, right up at 850.
Still targeting LOD.
Yes, sir. 850. Still targeting LOD. Sir.
I mean,
Lill hasn't been taken. Should still take out the Lill.
I just want to hear
Stephen Hawking just sell
100,000.
Yes. stephen hawk and just sell 100 000. yes
all right i just covered some es short right there back testing the pre-market level on spy
took some puts up there as well from monday looking to see if we can just kind of slow bleed now.
Nice.
Looking slow.
Ultimately want to see NQ at that pivot point down at 798.
Cues are turning just a little.
Right here pressed up against 600.
50 cents south
I think we slam it right here yeah Merci. Спасибо. they hit pause on the market yeah but i mean expect it on a day like this waiting fmc
all right i just took my first trim right here on spy puts coming down to the equal low
all right I took my first trim right here on spy puts coming down to the equal
low nice at least we got a decent morning move like not not at all I think Dak
Prescott saying here we go low a day
So it's at new lows.
I'm still in at 841, my average.
Still targeting 801.25 for first trim on three short NASDAQ.
VIX is popping.
We'd like to see it crack over that high a day.
23.87.
23.88.
I mean, you even got Monday's bid point down at 762. Drop a low. drop it low Thank you. I hope it's a 8784 lower. up at the eight seven eight before lower still think we do go lower because IV data have not taken off the low yet maybe they can pop it into this previous
10 minute five minute candle highs sweep those in the lower I don't know.
Shit.
I'm not doing shit. Thank you. Okay. Gold held up a bit better this morning.
Didn't end up taking out any of those lows.
Okay. Absolutely nothing.
NVIDIA and Microsoft are starting to roll a little bit. I mean, Microsoft's already kind of down at this level I got at 394.
And actually I'd like to see calls off of that level, to be honest. Okay. Yeah, here we go.
Starting to crack. Drain it.
Try.
It's going to move down pretty
quick if it breaks this area.
I could not agree more still in these three short at 841 targeting 801 to trim ones so
is is
This is boring real quick. Yes, I did.
We ain't doing shit. Oh, God. Thank you. Drain it already. Thank you. Colt's trying to make a move now.
We are just kind of basing.
Yeah, stuck in the spot here.
Yeah.
I'm good.
Made my money.
Not trading anymore.
Not going to FAFO. Good oil still taking highs.
Just made another new high day.
I think she was looking weak. Now this is ass.
Yeah, that form's the day.
Cook.
Yep.
Yep, yep, yep. cook yep yep Thank you. Coming up here. Rocket Lab down eight percent now today
six Thank you. New hour opening in two minutes.
Yeah, we're trying to get above the five minute nine here. Mm-hmm. so open
previous 10 minute
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There's a pop.
There's a pop.
There's a pop.
Uh-oh.
My break even stopped hit on everything.
I'm flat.
Nice.
Oh, not really.
This is ass.
Yeah. It was tough tough i locked in like 500 on es right there and
then options like barely anything okay um
uh um
so Thank you. this Thank you. Okay, we got to 900.
Rejected that. Oh oh my god anything i'm doing
literally just shorted the five minute 21 on futures and just covered at the five minute nine
yeah this is just garbage i'm not focused on trading rest of the day at all
I'm not focused on trading the rest of the day at all.
Yeah, I'm sitting here.
I could care less.
FOMC is coming now.
PA is like this.
I'm good.
I'm good.
Just sitting here.
It is choppy. Yes, we do.
Oh, Stephanie. Yeah, futures is so much easier right now. Options are ass. um um
just So, you can just watch my phone call for a pass.
So, you can watch my phone call for a pass.
So, you can watch my phone call for a pass.
And actually, if you want to watch my phone call,
it doesn't stick to it.
But it's just a little bit of a difference.
It's just a little different.
It's just a little different.
It's just a little different. It's just a little different. It's just a little different. Let's have some fun fomc later yeah we'll see what we get md is just ripping still nice i'm gonna
buy another apex account for fomc there you go see if I can pass. There you go. What are we thinking? 100K or 150K?
What do we want to do?
I already have two 100s.
150.
I got to make nine grand on FOMC, Ming-C.
I know.
Can you just trade it for me?
I'll give you my credentials.
Nah.
OK, they're pushing it.
They're pushing it.
Oh, here goes AMD.
AMDizzle.
Oh, WDC red to green. MU ripping.
BIS ripping. I'm going to go back to Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X.
Salt X.
Salt X. Salt X.
Salt X. Salt X. Salt X. Salt X. Salt X. Salt X.
Salt X. Salt X. Salt X. Salt X.
Salt X. Salt X. Salt X.
Salt X.
Salt X. Salt X. Salt X. Salt X. Salt X. Salt X.
Salt X. Salt X.
Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X.
Salt X. Salt X. Salt X.
Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X. Salt X.
Salt X. Salt X. Salt X.
Salt X. Salt X. Salt X. Salt X.
Salt X. Salt X.
X. Salt X. X. X.
X. X. X. X. 11 o'clock Eastern at 12.
We got our yield match combo that we do every Wednesday.
And then we are on stream the whole rest of the day for FOMC, everybody.
So hang out there.
M's already been live, of course.
So that's already
happening, but we'll, the whole crew
will be over there around 1pm.
And we'll get
F1C started at 2.
I should say the nothing burger
party, but, you know.
Watch F1C just be nuts today.
I think FOMC is going to be pretty muted.
Yeah.
Aside from the dot plot, that's what's going to move the markets and that
comes in when...
I basically am like sitting here and I'm just like
every FOMC is going to be lame until
I see one that isn't.
That's my mindset, honestly.
Still always
room to scalp around, of course. but i just haven't seen those crazy
reactions like the past i will be back
jordy i'm gonna leave no worries minxie are you. Are you coming back to hang around for FOMC?
I'm not sure.
I don't know.
I stopped playing around FOMC.
I get temptation, so we'll see.
No worries.
I might have back on.
If you're hanging around, we'll be on stream.
If you want to come hang, you don't have to show your face, of course,
but just come hang with us.
All right, guys.
Have a good day.
Later, Minx. Bye-bye hang with us. All right, guys. Have a good day. Later, Max.
Bye-bye.
I'll be right back, crew.
I'm still here, but I'm not training no more. Thank you. Thank you. Chop it up.
Chop it up. Where's AMD at?
AMD, oh no, it got rejected.
Shit.
Hey, gobbledygook. All right, we're back. Thank you. uh-oh down
spaces are obviously
here but
yeah x
can't really post anything can't refresh right now
rough
rough rough rough Спасибо. what the fuck
hello
mr. echo echo
is my computer not working
you're good now no wait my trading deal Why is my computer not loading?
You're good now.
Not like my trading deal.
I'm hooked right now.
What's happening? There we go. Thank you. Right back to the same spot we opened up at.
Yep.
Building a range.
Building a range.
Ass. Ass.
Straight ass.
Yeah, not great.
But we've had some good trading days, I feel like,
the past few days.
No, there's definitely opportunities.
Yeah.
100%.
Not too mad.
Just boring to sit through, of course.
Yeah. No, it's Just boring to sit through, of course. Yeah.
No, it's just boring to sit through.
We'll have fun on stream, though.
Have the crew on there.
That'll be fun.
Okay. Thank you. Okay. Okay. Okay. Okay. Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay.
Okay. Okay. Okay. Okay. Okay. Gold's still just looking great.
Forming a range as well.
Looks decent off of those. Thank you. Crude oil is also bouncing here.
Well, we've got crude oil bouncing and everything else holding in the market. Thank you. Decent rejection on Enque. About to hit halfback of this newly created range.
10.28 low.
Still not taking out IV low today. Thank you. Gracias. Thank you. I'm going to sell this thing again.
Back to the loge.
Did ES take out Ivy Lill?
ES took out Ivy.
Wait.
Yeah, it did.
Took out Ivy Lill, but NQ did not. Thank you. Okay.
You know what I see here?
I see that I'm going to go to the gym.
There you go.
That's a good move.
That's what I see.
I think that's a phenomenal move.
I do as well.
And with that said,
I will be back.
Sounds good, yeah. We'll see you later.
The fun digitally.
Later, babe. Have a good workout.
Go pump them legs.
I'm gonna pump those legs.
Wow, Axe is like really down right now.
Yeah, yeah, yeah.
Holy shit. Holy shit. Thank you. I hope X still ends up working out for our convo at 12.
Let's see. see Thank you. Why will oil die?
What the fuck?
Things up 3%.
99.13 here.
It's really strong today.
No reason for it to die yet. I mean, you look at the structure there. It's really strong today. No reason for it to die yet.
I mean, you look at the structure there.
It's really been no...
No shorts, in my opinion.
Maybe we build some structure,
like build some further structure here
to do that later, though.
I could see this starting to like
round over on the top.
If you end up breaking structure and, you know,
and actually start making lower lows, lower highs,
right now that'd be like under 98.50.
Then maybe you can start cruising down on oil.
But until then, that thing's just really strong.
It is, it does look like it's having a harder time though, up at this, like 99, 30, 99.5 area. Okay. X is having some real issues.
Gosh.
Yeah. . Thank you. Okay. Thank you. and tesla doesn't look good
a nice move this morning sold off basically since uh 10 o'clock just been selling off Thank you. Okay.
Okay.
Yeah, I'm going to the gym.
I will be back. Perfect.
Oh, wow.
This is rough
yeah I need to go refill some coffee that's yeah I like that the Brady restock I like that idea yeah I got this fancy Breville I got to use it.
Jordy, I will catch you on the stream, brother.
Sounds good, man. I'll see you there.
Hasta luego.
Hasta luego.
Fuck.
We don't need no soundboard. Mr. Market you're sleepy.
Great day to stay away.
Just tape read.
See what this meeting goes.
Don't really know what to do with myself until then. Okay. Thank you. Mm-hmm. Mm-hmm. Mm-hmm. Mm-hmm. Mm-hmm.
Mm-hmm.
Mm-hmm.
Mm-hmm.
Mm-hmm.
Mm-hmm.
Mm-hmm.
Mm-hmm.
Mm-hmm.
Mm-hmm.
Mm-hmm.
Mm-hmm.
Mm-hmm.
Mm-hmm.
Mm-hmm.
Mm-hmm.
Mm-hmm. Thank you. Little Ripper.
Maybe they can take out
top of this rain, 931.
Just be careful.
This sucks.
Oils Just be careful. This sucks. Oil's consolidating here.
Just kind of going sideways at $99.
Google has met with the Pentagon.
Google was ripping this morning basically to chop sideways
after that ripping candle had opened.
9.35 was a high day.
Netflix kind of ripping off the lows.
It's green, half a percent.
Rocket Lab's still
down eight and a half percent.
Trying to hold the bottom,
but looks like it could get another leg down,
be down further today.
Core we've sold not
1.7% on the day.
Just consolidating at the bottom of this little intraday range it's made.
That's pretty much it.
It's all I'm seeing that's doing anything.
I think he's just stuck here.
900.
Basically, we're 30 points under where we opened up.
So, Thank you. Oh, I'm Thank you. Thank you. Thank you. oil's trying to drop a little bit just still holding structure No structure has really been broken yet though so can't be really certain of anything there.
Thank you. 20 minutes till lunch.
Feels like we've been in lunch price action all morning, though.
Okay. Thank you. Wow still in this lot i need 24 9 60 50 that's ridiculous
how am i still in that I'll hold them. Thank you. I'm glad I made some money last night. Thank you. Gold dropping. gold dropping
finally started moving a little bit here
ym is also just continuously stayed weak all day not getting nearly as much of a pop as nq did off
the lows.
Let's see if oil tries to make another leg up here. Let me start rolling over. Thank you. Tim Cook, Apple CEO, is in China today attending an event in the southwestern city of Chengdu to commemorate the company's 50th anniversary. Thank you. um
so we'll poppin
no it's holding but market wants to drop a bit.
Towards the lower part of this range.
Oh, gosh.
What a freaking shot for this, man.
Stays are tough to sit through, but necessary.
Got to be able to sit back and say,
this environment sucks.
I'm not going to hammer it. Thank you. Here comes oil down. If you can really break under 98.50,
then maybe you can start working towards some of these previous lows intraday.
Until that happens, if we just keep doing these higher lows right back to top of the
range, then I don't see that happening.
But keep an eye on that 98.50 and see if that wants to be done for the day. Thank you. well folks nine minutes till lunch we got our friend michael ko coming to join us
here at uh 12 o'clock eastern lunchtime we'll chat some yield max have some of the crew hop
on as well always Always a great conversation.
So stick around if you guys are interested in that.
The YouTube stream is also live.
Ryan's over there getting ready for FOMC.
I will be joining him after we do this conversation on spaces.
So of course,
feel free to go to the stream,
but I would love for you guys to stick around for this next
conversation as well for any of my income investors that like to take advantage of these
income etfs we're going to be chatting about that for the next hour going into lunch here so
gonna be a good time we'll do that see what f1c brings i'm gonna going to be kicking back with my feet up. Not trading it.
I do not want to take the risk.
But, sure, there'll be some scalps.
Ryan, Frankie, Casey, all the boys will probably be scalping around,
making some money.
Hopefully a fun afternoon. Thank you. it really does not let me send out invites x is so broken man
it's an issue
I don't remember what direction looks like anymore.
Oh my God.
That was funny.
100,
100 X.
That was a good comment.
Yeah.
On a day like,
I mean,
look at just look at your like one or two minute.
This little,
just,
I mean,
every candle is matching itself back and forth here.
It's rough.
It's rough it's rough
but again you know these days are going to happen in the market you either
you know identify it and walk away or if you are going to be at the screen you identify it and
no hey i'm not i'm not putting myself in that environment. I'm not taking that risk.
It's just not worth it, right?
It's kind of similar to those times when,
for like the options traders,
those times when IV, implied volatility, is just extremely high.
And it almost doesn't make sense
to even trade the contracts,
even if you get the move that you want,
because the juice isn't worth the squeeze. Like the risk you're taking because iv is so high is uh it's too much it's kind of a
kind of a similar thing for me here it's like could you get a setup could you maybe make some
money sure but like is the juice worth the squeeze in this environment.
But everybody has their own style.
Again, I'm not saying you can't make money in this environment.
If you're micro-scalping
and you're just on point, then yeah.
But not a good range.
Not a good range.
Oil's trying to actually come in now.
Trying to break into that 98.50.
Getting some displacement as well.
Not a bad look
that's gonna help the market here a little bit Thank you. oh i'm so glad i'm so glad i made some money last night geez we had the clear edge automation running had some great trades there
made like a thousand bucks between the two accounts and i wasn't even at my desk i was
freaking out with them we were at Pizza City watching the game.
Great time.
I kept checking my phone.
I was like, ah, are we in?
Hit a few teepees and had some dinner.
we killed a few margaritas.
We killed a few margaritas.
You know, it was a great time.
Emp was teaching me all the Spanish too
with all the locals down there at Pizza City.
We were just chopping it up with everybody.
It was a fun time.
He forced me to, I said this earlier,
but for those that didn't hear it,
he forced me to turn my whole phone into Spanish.
Everything I see now is just in Spanish.
It's good, though. It works good.
Like even right now.
So StockSniper is requesting to come up.
I now know what that word is.
Solicito.
Right? Or like listener.
It's nice. I'm learning.
Tis good.
Tis good. Is that Sniper?
What's up, Sniper?
This guy. Hopping in.
Good afternoon.
Good afternoon.
I'm about to talk some Yield Max with Michael Coe.
Oh, he's the man.
Yes, sir.
Then FOMC Day, we'll spend it on stream,
so feel free to drop by if you have any time today.
We'll be there hanging out.
How's the day been, Sniper?
Good day.
It's been choppy out there, man.
I had a few scalps, but I really traded last night.
I was more than it was for me.
I saw the market open, and I decided to go back to sleep.
Yeah.
So you know it's 3 a.m. for me.
Oof.
3 a.m.
That's rough.
What's up, Michael Coe?
How are you?
Doing well. How are you?
Good. Good.
Ready for a big FOMC meeting, huh?
Although these things have been nothing burgers in the past.
So I don't know.
I imagine it's kind of a similar thing.
Until I really see an FOMC, it's crazy.
I just think it's pretty muted overall, but maybe we get something
market market has not been loving it though.
Overall.
I mean, we're basically in the same spot as we opened that right now.
So just to slow down the markets, the PPI data, there was actually some pretty big trades
that took place in the futures ahead of the PPI numbers that we saw.
And I mean, if they hold things steady, much to the president's chagrin,
I think that the PPI data is something that, I mean, it's not going to be in the letter
because that's presumably written up already. But the economic data, the inflation data kind of supports a steady hand.
So it's not what equities wanted to hear.
It's not what metals wanted to hear.
But that's the reality.
Yeah, definitely.
And oil is just going a little crazy today, which makes things weird.
I think VIX is still pretty high as well.
We're at this 23-22.
So great.
The income, I'm sure, distributions.
Another week I looked closely.
I'm going to talk about some of the highlights from the past week there.
But yeah, oil up 2% again today.
We'll see if that wants to calm down into FMC at all.
But gold, silver taking a hit, just an interesting day overall.
But excited to get this meeting out the way and then maybe this market can clean up.
But overall, it's just been months in this range now.
And I'm a little tired of it, but got to survive it.
So excited to get into the conversation.
Now, quick reminder for everybody in the audience, we are moving into the YieldMax Weekly Deep Dive.
We do this every single week, 12 p.m. Eastern.
We get Michael Ko on and a bunch of people that trade these ETFs, and we just talk about what's going on, right?
Talk about what's going on, right?
Any big news that's coming out, new ETFs that they're creating.
Any big news that's coming out, new ETFs that they're creating.
Obviously, if you guys have questions in the audience on any pieces that, you know, maybe
you're trading an ETF and you have some questions or whatever it may be, use that purple bubble
in the bottom right.
And you can comment any of those questions and we'll try and get those answered for you.
I know we got some people popping up on stage too.
And feel free if you guys are super interested in the income conversation and you want to get into the conversation, definitely feel free
to request up. I'm totally open to bringing people onto this one because it seems that this crew
always tends to have some good questions. So just a reminder for everybody, you should carefully
consider a fund's investment objective, risk, charges, and expenses before investing. The prospectus and summary prospectus for YieldMax will be on the website at YieldMaxETFs.com.
So make sure you read through that, right?
Get familiar with the actual products and the assets that we're talking about, and you
know how they work.
And then you go from there.
So Michael Coe, excited to have you as always.
How are we doing this week?
Good.
Pretty big announcement, actually. We just launched a new fund, which I thought I would talk about. So we launched the YieldMax Stocks Target Double Distribution ETF, which is ticker DDDDD, which we're referring to as Quad D, since saying DDDD, did I say enough Ds?
It's a little bit of a mouthful.
But this is going to be the first of our double distribution lineup,
and it's designed with a pretty straightforward target.
So for anybody who's familiar with the ETF SCHD, which is the Schwab U.S. Dividend Equity ETF, the objective here is to generate a higher income on the same underpinning universe of stocks.
So doubling the distribution.
the distribution. Important to talk about this as well, because since this just launched,
SCHD is going to actually come out with a distribution, but we only just added the
portfolio. So we have not been collecting the dividends from the underpinning stocks,
and we have not been overwriting those stocks until the end of last week. So the very first distribution, because it's going to match
the cadence of SCHD, is going to take place not for this distribution, but the next one.
So for anybody who happened to have bought this for only the couple of days that it's been trading,
that would be the reason. Obviously, the portfolio, only having just been created,
did not collect dividends over the course of the last quarter the way SCHD did.
And it hasn't been selling options against those stocks either. FieldMax products in terms of maximizing distributions is that the intent here is to, as much as possible, actually get the same capital appreciation that SCHD does,
the same qualified dividends that SCHD does, and then just supplement that with double the distribution rate from an options overlay.
So the options overlay component is, I mean, depending on one's perspective, you could
say it's aggressive or it's conservative.
But the objective here is to supplement at this point about 3.5% annualized net of fees
over the course of a year, let's say, right? So if you're looking
at SCHD's returns over the course of the last 52 weeks, you know, the total returns, had you
reinvested the dividends that SCHD paid, about 15.2. And if you had simply taken those distributions in cash,
14.7, that was net dividends on a trailing basis of about 4%. So if we would be doing our job right,
then the total returns in our case would have been about 19.2% reinvested and about 18.7% or so would have been the target on a cash basis.
But I think this is a really interesting product.
I mean, people have heard me speak about Big E on many occasions in the past, which is the Target 12 that has the 50 largest stocks by market capitalization.
This is the first one that is specifically also looking to sort of capture that qualified
dividend as well.
So that's going to have favorable tax consequences for those to whom it applies.
So pretty excited about that one.
And as you pointed out, I mean, this is a higher
volatility environment. We've had a lot of uncertainty over the course of the last couple
of weeks. That's elevating options premiums. You can see that in the VIX. You can see it in the
options premiums on single stocks. And consequently, that's having an impact on the distributions from a number of our funds,
CONI, CRCO, H-I-Y-Y, Morrow, Mernie, NetFleet, PLTY, XYZY, all of those had annualized distribution
rates over 100% annualized.
And it's this higher volatility environment that we're in that is contributing to that.
You know, I will say, as I'm sure everybody on the call probably feels,
that we're always happier in an environment where the underlying stocks are going higher.
For those strategies we have that are bullish, of course.
But, you know, with higher options,
income can help mitigate some of the pain if they're not going higher or even going lower.
100%. Well, a great breakdown, Michael Ko. I really appreciate that. I'd love to,
I see we got Dan up here as well. Dan, great to have you on. Feel free to pop in at any point
in the conversation if you want to add to things.
I would only add one thing.
Mike, I know LFGY is not quite 100%, but I don't know, 99.8% is pretty high to me.
Yeah, I would say so. I mean, yeah, I mean, if you take a look at what's in it, it's probably not surprising for folks. We have seen an uptick in volatility generally. And actually, some of the same underlying stocks that are on the single stock options income ETFs that I just referenced
are constituents of that. So I mentioned CRCO, Circle is in that group. I mentioned
Kony and Coinbase is in LFGY as well. So there's, you know, Mara Holdings is also in there. So there's a couple of things in
there that have lower, slightly lower volatilities, like NVIDIA is not a 100 vol stock,
an important stock for LFGY in terms of the weighting. But, you know, that's going to be
the kind of thing that mitigates it a little bit. You know, so what's going to bring down LFGY's distribution
relative to the, you know, 100% plus names that are in there?
And it's going to be names like NVIDIA, which is going to be lower, of course.
It's going to be, you know, things like PayPal, stuff like that.
But yeah, very close, of course.
Yeah, I know.
Sorry, I was just having fun with you on that. But yeah, very close, of course. Yeah, I know. Sorry, I was just having fun with
you on that. And it's an interesting fund in the context of so much is happening around the
regulatory environment with crypto. So it's also in the headlines, whether it's Circle or
in the headlines, whether it's Circle or Coinbase. And, you know, there's a lot of optimism around
the Clarity Act right now. I think some people are saying there's something like 70% chance that
this gets pushed through the next couple of months. So I think it's an interesting
fund to highlight. That's all. That's why I brought it up.
Yeah, I know. I appreciate that. And I also, I mean people who are exposed to this
and maybe wondering whether they're going to,
you know, give up some hope.
Obviously not a great day in it today.
But, you know, since that, you know,
first week of February, you know,
Bitcoin has caught a bid.
And actually over the course of the last uh couple of
days and weeks now it's actually showing decent relative strength and in a in a tough tape
cool thank you for bringing me up yeah absolutely dan feel free to pop into the conversation if you
if you have any points you want to hit on um miss roundhill love to get over to you we got
got a decent amount of people on the panel love Love to see it. You got any thoughts or questions for Michael Ko here? I know Quad D launched on last
Thursday and we're starting to see that, you know, play out a little bit. So I'm curious if you have
any thoughts on that or any other pieces you want to hit on. Yes, I just had an interview with Mike on Monday where we talked a lot about quadruple D.
And I just am very curious to see how the first distribution is next quarter.
But I actually there was someone that asked a question about LFGY.
about lfgy and there's a specific ticker opra oprah and they're wondering what the um the logic behind
And there's a specific ticker OPRA.
including that into lfgy is and so um i just i forgot to ask it during the interview on monday so
um mike if you wouldn't mind uh you want me to take that mike sure go ahead yeah so opera is a company that processes stable
coin okay and crypto out of out of um well out of europe we'll say and africa and in different
places it's a search engine uh The free cash flow is a wonderful part
of the business. And they also have a nice dividend. So it is definitely a company that
is overlooked by many. But it fits in that context. and i'll just leave it at that
i hope that answers your question i realized it's not oprah it's it's opera
sorry thank you
some great stuff did you have any other thoughts miss roundtowers that or does that do it for you that is it for me for today thank you all good you know where he's always a pleasure
having you um different ken i know we got you on here i don't think we've had you on this
conversation before but i'd love to bring you in and see if you have any thoughts for the team
here any questions from michael or dan or any pieces you'd love to bring up.
Just got to hit that on mute.
There you are.
Hey, thanks for having me.
I actually kind of pre-fed a lot of my questions to Miss Around Hill over the last couple of days.
But, yeah, huge.
I came back to X because of SCHD about a year ago.
So happy to see Quad D come out and uh hope as well looking forward to the
uh first uh distribution next quarter um and also super happy to uh see the changes in y max and
uh you guys uh making posts and updating about that so thanks i appreciate it will
yeah i love that is that what you're mainly trading? YMAX, SCHD? What are you and your following exposed to in the Yulmax area?
Max Chippy, WiMAX and obviously Quad D now have a couple of shares of that.
Just every day I'm buying every day so far I've been buying one share SCHD and Quad D
and tracking them.
Oh, did I drop?
Yeah.
So every day I've been buying one share of each just tracking it.
I'm going to come up with a couple of game plans and I have some posts here shortly.
But yeah, just those are my main ones right now. Some other index-based ETFs are kind of like my core funds.
Building that, I'll be honest, this past fall, I came in probably the wrong time.
I thought I knew what I was doing in September and then October and November hit and Misty and kind of I was surprised.
So just learning a little bit more uh right now but yeah
yeah you know it's it's a great point you make by the way keeping an eye on those on those posts
specifically with respect to the ymax um rebalance and the and the reason for that is
folks will know that the methodology for how that is constructed has changed.
And it takes generally a couple of weeks as you evolve from one rebalancing strategy to another to sort of get that cadence right because there's a trading and an operational aspect.
in an operational aspect.
And also, you know, we work with and collaborate
with some of our trading counterparties on that
to find a tempo that works well for them also.
So, you know, we want to do this every four weeks.
That's ultimately the objective.
So there's going to be a little bit of, you know,
what's going to happen in the rebalances
up until we get to that sort of regular tempo.
You're going to see some stuff from week to week
as there are some adjustments.
One of the things, a bit of feedback we got
from some of the market-making community
that we interact with was that end of month
is a very difficult time operationally for them.
So it's probably going to maintain that
monthly tempo, but it won't be necessarily on the last trading day of the month that that takes place.
And so it's really helpful for those of you who are either looking at it, invested in it,
interested in it, you know, follow those posts and you will see those rebalance updates. You're
going to be seeing more of them until basically the transition takes place
and we get sort of going along with that.
So good point bringing that up.
Keep an eye on those posts until we get on that.
And then, of course, you're probably going to see the posts
a little less frequently once we get that all sorted.
Yeah, Michael, Ken was talking about too how he's, you know, started to get exposed to
Quad D, which I love to see.
It's awesome.
I'm curious, like from your perspective, of course, no financial advice here, but when
you're looking at these new funds and investors trying to get in, what do you think is the best approach when you guys have a new fund and people are looking to
be interested in buying it potentially? What do you think is the best approach when this first
comes out and it's brand new and people just really want to get in? Yeah, so I think it's a
really good question and something people should think about when they look at the various offerings.
Because if you look at something like a single stock options income ETF, that's an investment product that really was intended to democratize an options overlay against a single stock.
So that's why there's so many of them.
And people have different views about a stock.
Maybe you're bullish on that stock or maybe you're bearish. So in some cases, we offer both a bullish and a bearish. But the way
you should think about those is because those are just single stock underliers. Those are not a
portfolio. Those aren't an investment fund per se. Those are investment products that are designed to be constituents of a portfolio.
But something like Quad D is indeed an investment portfolio.
You're much like the Dow Jones 100 dividend index itself, because that's the underpinning
stocks that you hold.
It's a relatively conservative group of stocks. It's a relatively conservative group of stocks.
It is a diversified group of stocks.
It's intended to have tax-efficient distributions
in the form of qualified dividends
supplemented by options income.
So that is a more diversified
kind of investment portfolio, if you will.
And that's also true for Biggie, right?
Now, we have other more thematic funds,
but of course, people should remember
that if you're looking at something like Soxie or Chippy,
which were some of the best performing in 2025,
that you are still getting a lot of sector exposure
in that case to semis.
So if you're looking for something that is more diversified, is going to include everything
from consumer discretionary and services and healthcare, staples, energy industrials,
all that kind of stuff, then it's going to be a Big E or something like Quad D that is more of that investment portfolio, more conservative.
Now, Big E, because it's making 1% distributions per month, a more aggressive distribution schedule.
In the case of Quad D, it's only looking to double the dividend distributions.
to double the dividend distributions.
So the distribution amount is likely to be somewhat lower
than it would be in the case of Biggie.
And I will say that you probably want it to be lower
because you can imagine what kind of an environment
would you get to when you would see SEHD
just with a dividend yield that would be better than half
of 12% annualized, so north of six,
you probably have had a pretty tough go in the markets if we see that. So no one's wishing for that. So you can think about that one as being the one that is probably most conservative,
and I think a fairly strong launch pad, if you will, in the same way
that Big E is. And then from the other products, you kind of say, this is my investment thesis.
These are the names I like. I want, you know, sort of an options income overlay in a box or in a stock,
actually. Then you can pick those other ones and sort of you know
add that to your portfolio to sort of you know fit your fit your views
some great thoughts michael ko i appreciate that breakdown there
hey crypto fit i see you're in here how we doing my man i'm doing great man how you guys doing
i'm good good to see you crazy crazy day in the markets. Crazy past week, of course.
But I'm curious on your thoughts on some of the new pieces, Quad D, and maybe any other thoughts you got.
I got some thoughts. Like normal, I'm going to start this off with a very non-financial advice rant, because then it makes me feel good.
And then I'm going to land the plane with Michael and Dan on a question. So I will land it.
You know, first of all, if you're listening, just understand what you're investing in.
Right.
Understand why you got into this and what these funds do.
Right.
Are you going to pick your own strike prices?
Are you going to look at the RSI?
Are you going to spend time behind the laptop and figure out, oh, can I do this better?
You may be able to do so.
You may. You may end up like me and lose $35,000 in like three weeks. Now, I don't say that to be
a sob story. I say it as a learning experience. I trust this team to take my money and do the best options trading and pay me the maximum yield.
Now, if you want to be, you know,
if you want to reinvest certain portions of it,
you should, that's called responsible.
If you think that you're just going to take out a key lock and buy Misty with strategies at $500
and then complain about it later,
just remember that might not be the best idea.
But two things can be right.
If you helacked your house right now and bought Misty, you might be in the money, baby. All right,
so I'm not saying go do that, but just understand that no one's out here just trying to take money and drive it down to zero. Okay, next thing I got to say real quick,
Next thing I got to say real quick, LFGY, that's a perfect example of something where I just bought it and held it and did absolutely nothing.
And somehow my total return has already made it to where I don't have to do anything.
I mean, it's just an incredible product.
That's me buying when it was extremely high.
All right.
So now I'm going to land the plane.
I appreciate the rants getting out.
I will say Michael and,
it's David, right?
Is he still there?
Dan, sorry, Dan.
Yes, there we go.
Dan.
So there's another fund out there, for example.
And instead of holding treasuries,
they are actually starting to hold STRC, SATA
as part of their yield producing product to pay us. Now, I know you guys obviously use treasuries, they are actually starting to hold STRC, SATA as part of their yield producing
product to pay us. Now, I know you guys obviously use treasuries. And I know we've spoke about this
before that there's some legalities behind that. But when I hear about a quad D mixed with an STRC
or, you know, an SATA, I mean, my Lord, this, this, that sounds like a product that is almost unbeatable.
Can you tell me why, again, that you can't do that?
And or can there ever be a revision where this actually does happen?
And then also, great job on the WiMAX rebalance.
I don't think we touched on that.
Fantastic.
And thank you for doing that.
Sure.
So, would Quad D, so first of all, Quad D, if we're talking about that one and you're imagining how you might blend these things together,
those funds of ours that hold treasuries typically do so as collateral for the synthetic position in the underlying stock.
So long call short put, long treasury.
That's to comply with the RIC rules.
Quad D isn't using synthetics.
Quad D is actually along the underlying stocks.
So that's the first thing.
The second thing is that Quad D, what you're dealing with is,
as far as those underpinning stocks are concerned,
is the Dow Jones Dividend 100 Index is the underlying constituent stocks.
So we're not exercising discretion on that.
That essentially is going to match.
So to the extent that you would take a preferred,
like a strategy preferred,
because you like the dividends that that preferred pays to combine with something like Quad D,
that would happen outside the fund.
I don't see a situation where that would ever be added to Quad D
just by virtue of what it is, right?
On the other hand, can we see in this family the possibility that there will be other funds
that would include securities that have much higher dividends like preferreds.
I mean, YieldMax is always looking to see what there is demand for.
Now, on those preferreds, there's not options as well.
So a portfolio like that would, to your point, I think,
need to combine options on perhaps strategy stock itself to be combined
with something on the preferred, which would be kind of an interesting take. I'd be very curious
to hear what people's interest in something like that might be in terms of demand. The preferreds
obviously have lower volatility than the common. They're senior in the cap structure, so that makes sense.
And, you know,
there are a number of interesting ways that one could go about playing that.
And we're very much about democratizing,
you know, derivative strategies
that can be, you know,
I don't know, not difficult,
but time-consuming and labor-intensive
to implement for individual investors. So there
are definitely some interesting things that could be done in that space. But as far as adding the
preferreds to Quad D, that's going to be something best left to investors because we won't be able
to put it into that fund the way it's currently constructed? Yeah, it was a garbage question. I wish I would have phrased it differently.
I think what I really was after is you've done such a good job,
even explaining on here that YieldMax's goal on the single ticker
is to provide maximum yield.
And if you are looking, and this isn't financial advice,
but if you are looking for something that keeps up with inflation and you can use the yield to go do as you please,
whether it is actually spend it, reinvest it, reinvest it in a different fund, reinvest it in
STRC, whatever you want to do. We have products for that as well. I think I just, I really want
the team to make sure that they understand that,
I mean, you guys are number one.
And when you come out with new products, people try to copy,
people try to innovate, if you will.
And I think there is a space where you guys can do something with the preferreds you guys can do
something better i just i don't know what it is i just i trust your talent i just feel like
there's something there uh there's definitely something there there there there always is you
know it's interesting before um before i joined the yield team, what I had specifically been looking at
with one of my former colleagues
who was the founder of a very big algorithmic
options trading platform called Dash Financial.
So the founder of that company
is a close personal friend of mine.
And one of the things we had been looking at,
you know, was the opportunity essentially to trade vol, basically stat volarb across the
crypto complex. And as you look at the YieldMax team, when you say, well, it seems like a lot of
others follow what these guys have been doing. It's probably not that surprising because, you know, on the fundamental side, you have people like Dan, who's on this call right now, been doing this for a very long time as active fund managers.
Mike Venuto also.
And on the vol side, the options side, you know, Scott Snyder and Jay are people that, you know, I either knew or knew of in the industry damn near as long as I've been in it.
So, you know, what they say is that imitation is the sincerest form of flattery.
I'm always pleased to see other issuers saying, hey, we rather like the idea that they came up with it.
other issuers saying, hey, we rather like the idea that they came up with it.
But the reason that they're coming up with them is because there's always a lot going
on in the skunk works between, you know, Jay and Scott, Mike, Dan, you know, how do we
take the ideas we have and turn them into a democratized product that trades like a stock
that trades like a stock so everybody can have access to it.
so everybody can have access to it?
You know, kind of the things that prop shops and hedge funds,
which is my background, you know, that you can package them like a stock
so everybody can kind of have access to them.
And simultaneously educate people enough about what these things are
so that they know what they're getting and understand both, you know,
when those things do well and when they don't.
So I will leave it with this.
We can never talk about things that are being worked on behind the scenes,
but know there's always something being worked on.
Love it. Thank you.
And everybody listening, I'm out.
I'll see you at the High Yield Conference.
Maybe.
Any of you coming, I'll see you there.
Shout out to you, CryptoFit.
Appreciate you. Go ahead, Dan. Hey, Crypt hey crypto fit just a couple of points though that I'd make like we looked at if there was even
an ability in the options market to do some kind of strategy around
stretch but the market hasn't evolved yet and it's designed as a low vol product, right? So
it may not. And then because I'm the one who speaks to managements, you know, there might be
an opportunity. I'm, you know, I'm just talking out loud right now and in doing something with Strive, to your point, off of the equities,
you know, some kind of strategy around their preferreds. So, appreciate the insights and
the thoughts, though, and the feedback. So, thank you. No, absolutely. Thank you, Dan.
Hey, Ms. Roundhill, did you have something you wanted to touch on?
Hey, Ms. Roundhill, did you have something you wanted to touch on?
Yes.
So I think you all should move forward with thinking through this whole, like, half stretch, half doing options on MSTR and also having stretch would be really cool.
So just so you know, like as a product market research of one, I would buy into it.
That's helpful feedback.
You know, there is, like I said, a lot of interesting things that would go on.
Here's one.
I'll just let people sort of noodle on this a little bit just so that we kind of can circle back a little bit to the rules that govern some of these types of products.
So these are 40-act products.
So they're subject to the RIC rules.
So what that's going to mean is that you're going to face those 25, 550 concentration rules.
So the construction of a portfolio would need to comply with that and on the preferred side.
So let's just try to come up with a really simple example.
You've got a million bucks in a portfolio and your objective is to have exposure to one or two preferreds and then have an options overlay against the issuer, in this case, strategy.
So that's going to be difficult to manage unless you bring some other things into it because each issuer can have max 25% exposure.
And in the case, now we can,
on the single stock options income ETFs,
we manage that with the combos and the treasuries
and then the options overlay.
But on the preferreds, you don't have that mechanism.
So it would probably need to be,
and again, kind of like Dan was saying,
he was thinking out loud.
I'm also thinking out loud on this.
It would probably need to encapsulate
something beyond just strategy
to accomplish that inside of the RIC rules.
So I guess we have a little bit of,
you know, taking the temperature of the market
and understanding what demand is to say, okay, well, what would those other places be then?
You know, are people looking for direct, for example, crypto related option income strategies
that would extend into, you know, something else? And I'll just throw something out like Ethereum, or is it going to be something like Bitmain
Immersion, or is it going to be associated names, as Dan pointed out, things that people
might not necessarily be aware of that could be combined in this way.
But where there is a combination of dividends and options income on a host of underlyings and would satisfy those RIC rules
that we were just talking about. Because obviously, you can't have a fund that's only got
like, you know, STRC in it, for example, or has a really big concentration in it because you will probably violate the
RIC rules.
And there's not an option synthetic that can be constructed on a preferred like we do
on the options incoming ETFs.
So there's things to think about for everybody here.
And maybe we can crowdsource this idea here and now.
I love it.
Ms. Roundhill, what do you think the yield that people would want for a product like that?
So if this was like the double distribution family, it would probably be around that 20%,
25% distribution, which is pretty much the same as MSST. However, it has the preferreds in it, so it has upside potential.
I would rather have something that's like, I don't know if there's much of a difference between trying to double something and having a specific target yield, but I just think there's not anything really doing with the preferreds right now with crypto. So I would feel more comfortable owning the preferreds in an ETF
that's also doing cover calls on companies I also agree with.
It wouldn't have upside potential on this round here.
Wouldn't it have downside protection better than MSTT?
Yes, it would have better downside protection, but, um,
I always forget which ones have like the convertibility.
So, you know, if we hold it for long enough, wouldn't it also be converted?
Whatever that own, like, not stretch, not stretch, not stretch.
Okay.
But it was supposed to stay at a hundred dollars around so
um yeah so having more price stability with you know that 20 yield would be very um
very tempting because anyone that plays with strategy we are in a crypto winter which
this would be a good time to launch it. But it's up and it's down.
Hey, Div Degenerates, I know we got you on stage as well.
I didn't forget about you.
You got any thoughts on this conversation so far?
A lot of great pieces being hit.
Yes, great stuff.
I have a question about, I'm calling it the Ds instead
of quad D. I might be able to change that, you know, to conform. But the question is,
you know, with RIC rules and the 40 rule, because you hold the underline, do you have to pay 90%
Because you hold the underlying, do you have to pay 90% per fiscal year?
That's my first question.
And number two, in this choppy, high volatile market, you own the underlines, you're doing call spreads, you own SCHD.
I imagine you're going to make more than double of SCHD.
So the target. So the pass through rules say that so that you avoid double taxation, you pass through 90 percent or more of the realized gains to the shareholders.
So you reference that it holds SCHD.
It does hold SCHD at the moment, but the fund only just launched.
And so that we can get exposure to and an appropriate weighting of the constituents
of the Dow Jones 100 dividend index. That's the reason I can imagine
a time when if the fund grows as we think it will, that you will see that the relative share
of SCHD as a constituent of the fund will go down as the other, because as the name of the underlying index implies,
there's 100 stocks in it. And at the moment of those, we have 26 of the individual single stocks,
the largest constituents of it. And then the residual balance is going to be held
in SCHD, just so we can have that appropriate allocation
so that we're getting the dividends.
Now, the pass-through dividends,
just the dividends from the underlying stocks,
for those for whom this applies, would be qualified.
So we definitely want to pass those through.
They're slightly tax-advantaged for some taxpayers, right?
So that's an important point.
Is it possible to get a higher yield tax advantage for some taxpayers, right? So that's an important point.
Is it possible to get a higher yield than double the anticipated dividend distribution?
We'll call it three and a half percent for the year. It is higher, but as you do that, the chances that an options overlay is going to impact the capital appreciation opportunity, which we're also trying to capture, you know, we don't want to impose on that.
So that's why we're targeting double the SCHD distribution amount, right?
So pass through the dividends, get those, you know, tax advantages to the extent that they exist,
which is, you know, context dependent. Options, income, overlay, net fees, double the distribution,
and then the appropriate level of capital appreciation. So, you know, if we think about
maximizing distributions, are there strategies that could be employed where you would be looking to harvest more options income.
Yes, there are.
But we are trying to see to it that the underpinning basket of stocks
are going to behave like the underpinning basket of stocks.
One of the reasons why this was structured in such a way
that the share price for, what was your preferred?
You don't want to call it quad D.
Four Ds?
Sounds like a ranch.
The Ds.
The Ds, yeah.
Four D, it sounds like a ranch in Texas.
We got the Qs and we got the Ds.
Yeah.
The Ds, okay, I like that.
I'll go along with that.
So, yeah, I mean, would it be possible? It is. But that's not the objective of this fund. And we really want to have a family of funds that allow people to, you know, choose whichever path is most appropriate for them. Are you looking for the largest and most immediate distributions now, or are you
looking for greater capital appreciation, you know, or somewhere in between? And that's what
we're doing. And by the way, that last set of suggestions, and I know Dan's gears are spinning.
Mine are too, after the conversation we just had, maybe not as quickly as Dan's do and will.
He has, you know, deep, deep knowledge in that space,
but it certainly has me thinking, you know,
what would be an interesting offering
to take advantage of hybrid securities,
you know, in the cap structure
structure that could be combined with, you know, options, positions in the underlying and so on.
that could be combined with, you know, options,
positions in the underlying and so on.
Awesome. Appreciate you guys.
That's some great stuff, crew. Michael, Dan, is there anything that
we haven't maybe talked about or hit on that you guys really want to bring up with the audience?
I would like to chime one thing in and I'm going to, sorry to interrupt you, Dan,
if you were about to say something. You know, one thing I would ask people to take a look at,
you'll notice this if you're able to do a time series analysis of volatility. It's just something
that you might notice about the underpinning stocks that are going into
the Ds, into Quad D, whatever. We'll settle on a suitable nickname soon enough, I'm sure.
And that is that stocks that pay dividends, many of these stocks will have volatility that's not
totally dissimilar to the S&P as a basket.
But one of the things you might observe is that
when things get a little bit more stressed,
the vol of vol tends to be slightly less in here
than it will be, for example, in SPI.
You go back to the post-liberation day sell-off.
If you look at this portfolio and you say,
okay, it's going to tick around at 15% to 20%.
I'm just talking about the volatility of the underlying stocks,
by the way, here.
You know, 15% to 20% implied volatility on the underlying
is, you know, for SPY and for the SCHD is about the same.
But when you see periods of market stress,
one of the things you might notice
is that historically,
it tends to exhibit a little bit less vol of vol,
which is probably not surprising
when you think about it
because as you look at this portfolio of stocks,
not that uncommon when the market gets under duress
that people might retreat to names like Bristol-Myers
or to Merck or to Kimberly-Clark,
and that the volatility of those stocks
doesn't tend to respond as violently
as it will in the S&P. Because in a risk-off environment, higher duration equity and sometimes
higher duration equity is the largest by cap weight in the index. And so I think, you know,
spy 30-day trailing went up to like 45 or so in that post-Liberation
Day period.
And this underpinning basket of securities, I think, went to about 30 or so.
So much higher than normal for a diversified portfolio.
You know, 30 vol is pretty whippy for a diversified basket of stocks, but on a relative basis, considerably less.
So I think that also kind of speaks to,
you know, what you're, you know,
as people think about how these different fund families,
what the underlying constituents are
and how much risk is being taken.
And is it, you know, conservative
in the sort of traditional sense of investing
for equity investors? It's just another observation I thought I would make about that portfolio that
those who are trying to dig into this and look at it a little more closely might be interested in.
Dan? I didn't really have very much to add. The only thing I would say is,
having been through a couple of winters, we'll say bear markets as well, you don't know when they end, right? So you can be an
optimist and hope that they end. But I am an optimist and I am thinking that with all the regulatory steps forward that we're seeing, whether it's the SEC or CFTC or, you know, our policy that's coming out of the Trump administration, you know, we could see, you know, this bear market with crypto end earlier than a lot lot of people are thinking which would be hugely
positive um for a lot of these funds but having said that if that doesn't happen the option overlay
um is really really helpful um so i'll leave it with that um thanks for everybody for listening
by the way yeah you know who we need, Dan? We need Mark Haynes.
He was able to call the bottom, remember?
Yeah.
He timed it to the day.
Rest his soul, man.
He rests in peace.
Super nice guy.
I don't know if anybody knows what I'm talking about,
but sometimes referred to it as the Haynes bottom.
Mark Haynes was on CNBC for years.
He was, you know, part of daytime.
He used to sit with Aaron Burnett, who's now at CNN.
But in March, I'm trying to remember exactly when it was,
remember exactly what it was, but when we hit the low, which I think was in March of,
what was that, 2009? He called it. He basically said, I think that's it.
He basically drew a line in the sand and said, you know, effectively, I think you buy it with both hands here. Another former CNBC contributor who has since switched to another network also was pounding
the table quite vociferously. That was Larry Kudlow. And I can remember quite distinctly,
And I can remember quite distinctly, he asked me pointedly and repeated the question, I think three times.
He said, are we now beginning a new secular bull market?
And if you had lived, as I just had, on a derivatives trading desk through the GFC, it was pretty hard to draw a line in the sand, but to both of their credit,
and so that's why I'm giving it to them in one case posthumously, they both timed the bottom
on GFC. You know, Mike, this is definitely going to date me. But I remember talking to somebody, I think it must have been back in 99.
By the way, for those listening, 1999, about how the Dow Jones was going to go through 10,000.
I asked him, I said, you know, you've been in the market for 50 years.
You know, are you excited about seeing the Dow Jones at 10,000? He said, the first time I'll be excited. The second time it goes through
10,000, I won't be so excited because then we're going down, you know.
Thank you. That was Seth Lickenhaus, by the way.
Hey, Dividendist, I saw you popped up on stage. We got a few minutes left on this conversation.
Did you have any questions or thoughts here?
Yeah, I did.
Hello, everybody.
Pleasure to be up here.
I was wondering, what is your criteria,
determinant factors for the rebalance of WiMAX?
I probably don't think I already went over that yeah so the wimax so the the transition to a four-week cadence
for the rebalance is is still ongoing and like i said there's you know both a trading operational
component to that along with you know collaborating with our trading counterparties that plays into how that's going to work.
The way to think about it, though,
is that the rebalance for WiMAX
is going from an equal weight
to more of a momentum-driven weighting.
So what that would mean is that
if things are exhibiting positive momentum,
they are going to increase their weight through time until such time as that momentum reverses.
Again, if people are looking at this and they're saying, okay, well, what is the momentum factor?
We're basically taking a rolling three-week period that goes into it.
That's one of the things that is going to,
I'm not going to give away exactly what is going on there,
but as you look at it, that's one of the factors.
There's also a constituent sizing issue
that's more of a logistical and operational component
that will affect the weights as well.
But we expect that it's
going to be on its new regular tempo relatively soon but it is not equal weight and it is momentum
driven yeah okay yeah i was just kind of curious on you know like what what makes you decide okay
let's pull ulti and let's add you know this one or that one and let's pull these guys and add these ones and so i guess i guess more of a is it can you confirm it's more of a i guess in a
proprietary approach on your guys's end as to how you're deciding which ones get swapped i mean it's
it's it is a proprietary methodology but it also is not really us deciding because momentum is what momentum is, if you will, right? So the
market is really making, you know, the market has a lot to say about what has momentum and what
doesn't. And that's just something we observe. So what's the only thing that's proprietary about it
is how we translate that calculation into action. But momentum is whatever it's going to be. So we're going to let it we're going to let momentum dictate
the weights rather than just simply go to a strict equal weight rebalancing.
So that's sort of that point of where you what you're looking at in terms of
the metric behind the momentum is more kind of behind the curtain.
I think it would be fair to say you're looking at a three-week momentum indicator.
What's more proprietary is how that translates into the exact wage.
Okay, three-week momentum indicator.
That's my next point of research.
Thank you so much.
Really great stuff, brother.
Appreciate you coming on and all the other
speakers we had on this one this was a great conversation miss roundhill dividend dgens um
everybody that joined us we appreciate all y'all michael dan you guys got any last thoughts for us
before we get wrapping up on this conversation um well i mean obviously we have a lot going on geopolitically.
That is having a lot of carry-on impacts into the options markets.
You know, our expectation is that there's going to remain a bid to options premiums, which we expect to be a tailwind at least to the options income harvesting component,
if not necessarily the
underlying equity component for many of these strategies. We're happy about one part of that
equation. You know, the other part we'd like to see some normalization, I would say. I'm in no
better position than anybody else to predict when that will be. But we're very excited about the Ds,
Quad D, D-D-D-D, however we want to say it.
We encourage everybody to take a look at that. And as always, we appreciate
everybody's time and the great questions. And frankly, today,
some really interesting ideas with respect to
taking a look at, you know,
some of the hybrid securities preferreds and so on
and how those might be combined to create, you know,
new exchange traded products.
And you have the right person on the call with Dan
when it comes to things like that,
because this goes right into his wheelhouse
and Mike Menudo's too.
Thank you. Thanks for having me. I appreciate the time and the insights.
Always a pleasure, guys. For those that don't know, we do this conversation every single
Wednesday at 12 p.m. Eastern. So put it on your calendar. Make sure you guys are always
bringing questions. Even if you're just in the audience, we totally are okay with you guys just typing out questions in the comment section.
Always feel free to request up and get on stage as well.
So just overall, great conversation.
And we will be back next week with another one.
But yeah, really appreciate all y'all.
For everybody else that might want to hang out the rest of the day, I know we got FOMC.
And the market's obviously still open and trading around. So we're going to be on the YouTube stream the rest of the day, I know we got FOMC and markets obviously still open and trading around.
So we're going to be on the YouTube stream the rest of the day, hanging out.
We're going to listen to the Jerome Powell speech.
I believe it's his last speech.
Sad to say.
Our boy Jerome Powell is leaving.
So I'm going to cherish that on stream with everybody and hang out the rest of the day.
So we'll see everybody on there.
We love and appreciate the audience hanging out with us on Spaces. We'll be back tomorrow bright and early on Spaces for Thursday. And then Friday,
of course, we just do the stream. But we'll see everybody tomorrow. Have a great day. Michael,
Dan, appreciate you guys. Make sure you guys are following the Yieldmax account. Follow Michael,
follow Dan. And yeah, we'll be back next week. Thank you.
