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YIELDMAX WEEKLY DEEP DIVE!!
Recorded: March 11, 2026 Duration: 4:05:25Space Recording
Full Transcription
Thank you. Thank you. Good night. Good morning, Spaces crew.
Happy CPI Wednesday, everybody.
We just had that CPI data come out about 30 minutes ago.
Coming in in line.
Our forecast was 0.2.
That's exactly what we came out at on the core CPI month over month.
Previous was 0.3.
And market hasn't really done much since that move, to be honest.
A little flash up, a little flash down, and pretty much back in the same spot where we started.
So that's what happens when things come in a little more in line, in my opinion.
You just get a little more of a nothing burger there, but still some volatility that came
And so we'll see how the market wants to digest this data going into the morning.
But that's pretty much it for data today that I see.
We are going to have, oh no, Fed's moment was already speaking this morning.
So yeah, no more data for today.
Just going to be, basically we'll see how the market digests this data
and hopefully get some good moves.
We look at VIX.
VIX is still at 25.29.
So plenty of volatility still left in the market right now.
That gives us plenty of opportunity to probably catch some moves.
And it looks like on NQ, kind of coming back into the spot where we were yesterday morning.
I'd love to see the spots I was looking for yesterday get tapped into.
I think ES is a bit closer.
Yeah, it looks like ES is a bit closer.
So always potential that we may be, you know, if we're very, very bullish again,
we could just tap into that spot on ES and maybe not even tap in there on NQ,
maybe not even tap in there on NQ, get a little divergence there.
get a little divergence there.
But I would feel a lot better if NQ could drop, take out.
Let's see, where was yesterday?
Yeah, we still haven't taken out those equal lows from yesterday.
So I would like to see those still get ran potentially if we can into the morning,
which is sitting at 892.50
and then below that I have that four hour gap I'm still watching at 832.50
so I would love to see the market dip down there so I can look for some long setups
the other scenario is maybe we pop up a little bit first and I can look for some long setups. The other scenario is maybe we pop up a little bit
first and I can potentially try and short down there if it is given, if setups are given. There's
always the scenario that it's just way more bullish than I think again and we don't even
need to drop and they just take it higher instantly into asia highs previous day highs which have been untapped this morning so
kind of what i'm looking at basically very similar to yesterday morning
or and higher from there we'll see uh
I could see it in the morning that gave me that.
pretty good morning they give me that so we'll see
So we'll see.
Either way, at least we got CPI out of the way.
And now we can let the market just digest that data.
Tomorrow, we do have PCE, month over month, GDP as well.
And then Jolt's job openings at 10 a.m. Eastern.
So going to be another big morning of data.
Oh, that's not tomorrow.
Sorry, that's Friday.
Apologies.
That's Friday.
Tomorrow, we just have unemployment claims
at 8.30 a.m. Eastern.
So decent amount of data in the next two days
to come off the back of CPI here.
We did have, what was it, Oracle earnings last night?
Yeah, it was Oracle earnings. night yeah it was oracle earnings uh i remember
it getting an initial pop but let's see how it's looking into the morning here
where are we at where are we at i can't zoom out far enough oh we're still up pretty good dang okay oracle so from the close yesterday closed at 149.36 roughly and uh now up
to 163.50 so absolutely ripping this morning trying to get out of this daily range that we've
been stuck in here so we'll see if see if we can do that Let me get all the invites out to all our panelists this morning.
I know a lot of people might be waiting for Ryan to get on stream.
He will not be on stream this morning.
He is handling some errands this morning.
So just the spaces until about 1 p.m., 1.30 p.m. today.
And then we'll hop on stream then.
But Ryan is going to be out for the day.
So we'll just be stream then but Ryan is going to be out for the day so we'll just be
on spaces this morning let me get these invites out bro x is so broken lately guys i don't know if it's just well it is of course it's just for me
because if you don't host spaces you're not having to worry about this issue.
But it used to be so easy.
Like when I would go to invite people, like their names would so easily just pop up.
And now I'll type in their app word for word, like letter for letter, and it will not show up.
It makes no sense to me.
I didn't know X could get worse in this area, but hey. He's what it is. We figure it out.
Can I get Casey? Will it let me invite him? It will. Let's go. Okay. What about paper gains?
Okay.
What about Paper Gains?
It acts like Paper Gains account doesn't exist.
Cool.
Okay.
So interesting, man.
So interesting.
How about Mr. Frank?
You're joking.
Oh, got him.
So weird, man.
X, X, I don't know what kind of issues you guys get to deal with,
but ridiculous, ridiculous.
Somebody said oil.
Yeah, oil's up 3%.
Getting a little bit of a pop this morning.
Silver is down 4.4.
Gold down 1.1.
What else do we have?
Let's look at some individual names this morning.
Circle, another good day.
5.59% in the pre-market here.
Oh my gosh, this is insane.
This has just been continuously running from the lows.
If anybody out there is trading the 2x leverage circle,
see RCG from leverage shares, let me know.
I mean, I would love to see any of the gains
or the trades happen in there.
That's amazing.
Just in this past week from Monday, it's up about
13% on, that's just circle alone, which means the 2x leverage is up, you know, over 20%
there. Where's, how about two weeks? If you go back two weeks from the open, not this Monday, but the Monday before,
it looks like we're up about 50% on circle,
which means the 2x leverage is up over, you know, right about 100% or stuff.
Just crazy.
Crazy moves there.
Not something I've been trading, but...
Let me see the moves.
What else is moving?
BA is down 3%.
ASTS down 2.5%.
Apple's green.
AMD's green.
Amazon's green.
Not by much, but slightly.
Meta's green a percent.
Netflix red.
Microsoft's slightly red.
PLTR down 3.3.
NVIDIA's green 1%.
Uber down 2%.
Tesla's barely green, holding up, trying to hold those previous month lows.
And that's looking like it's it green holding up, trying to hold those previous month lows.
And that's looking like it's it for these individual names.
Are there any of these strategies going right now?
God damn it, why does it glitch like this so in point? so employed so stupid
come on now load for me uh we do have path earnings tonight
path earnings tonight get adobe earnings tomorrow sentinel one ulta
get adobe earnings tomorrow sentinel one ulta
uh bumble tonight as well if anybody cares about that
all right can these please work please of course not of course not great
why is it so glitchy? Whatever.
We deal with it.
Got about 15 minutes till market open.
We're just dilly-dallying around in this range here.
Still got those equal lows below us.
ES did take out the 6 a.m. Eastern low.
NQ is not.
So you got a little divergence there.
I think with those equal lows below, though,
I don't think that will matter much,
but the market might tell me I'm wrong there again.
So we'll see.
We will see. Morning, Will.
What is up? Good morning, everybody.
Happy CPI Wednesday, brother.
Let's go.
Yes, sir.
It's going to be a fun, interesting day of trading.
Yeah, hopefully a good one of digesting the data, I would hope.
Let's see.
Yeah, the CPI data was relatively in line.
Housing was only up two-tenths, which is a good sign.
Used cars were down four-tenths which uh was another contributor i think some of the pre-market move
in equities right now is just oil has started to pick up a little bit in the uh overnight session
we were trading down i think as low as i think we hit what did we hit yesterday in the mid 70s so
we're up almost eight nine dollars a barrel off yesterday's low and uh trade all the way back to
that pivot which was 88.99 and then uh we've kind of been chopping between 85 and 87 the last 15 20
minutes it just did get a nice little pullback off that 87 area but i think we keep an eye on oil
and uh watch for direction if you see oil starting to ramp higher like towards 90 equities
probably get sold it almost seems like the correlation uh being inverse there between
those two are pretty good signals right now so on the bond side which is interesting even though
cpi was in line uh u.s interest rates are once again moving higher. The 30-year bond now trading at 483.
Some of that to do with the Amazon bond auction.
There were some rumors that people were selling treasuries
to buy some of the Amazon bonds that are going to be coming.
And yeah, 10-year sits right, I think, at 418, I think.
Yeah, 418. So rates moving a little higher, I think, at 4.18, I think. Yeah, 4.18.
So rates moving a little higher, oil moving a little higher,
and equities a little bit of a softer start.
So, yeah, I think that we need to be a little cautious at the 6,800 that we're at.
It's a big, big level from the downside.
We were trading, obviously, lower the past few sessions.
We've come down.
We've rallied back up to what I would say is the point of breakdown.
And this, like, right, we're really where we are now.
we're really where we are now 67 85 to like you know call it 68 30s is probably your biggest
resistance zone in spx so it's a lot of i would say wood to chop to get through this area to the
upside so that's where we are yeah i'd like to see us potentially drop lower first
and then try and make a move higher.
But the spot's been interesting.
I thought the same thing yesterday,
and we didn't drop to where I wanted,
even though it was really obvious,
and we just held those lows.
So I don't know.
We'll see what the market has to give us.
Yeah, I mean, NQ is yeah i mean i want to get long is definitely better
get long yeah the nq is definitely back in that balance area that we've been in for the past three
four weeks here between call it you know 25 150 or 200 you could call it um you know all the way
down probably the lower end is like 24.5 um maybe even 24 700 is really
the tightest range there so if we i mean we're right at this downtrend area that we've been
chopping on an nq like if we get a pushover i would think that a movement to the upside
probably takes us at least to 25 200 yesterday's high and then if we can get through that you got 25 355 is the 50 day
uh so we'll see maybe good news is bad news i don't know on the war front it looks like
i think that what did hegseth say today that today is going to be more intense or the most
intense it's been or something like that he said this morning so who knows war headlines could be all over the place um just stay on your
toes i think keep oil on your screen yeah and just uh see what's going on there bitcoin a little
softer start too after uh yesterday's move up over 70 it's backed off a little bit i think the high
yesterday was 71 too so we're down about 1,000 there.
From yesterday's highs, gold, kind of back below that range of 5,200 that we've been in.
Had the lower end there in the overnight rally back up.
But, I don't know, silver's not doing much either it's really really been a trade i've had
on i put on probably two weeks ago i put on a strangle in in gld that was pretty wide that
expires on on uh next week and that's coming quite nicely because gold has honestly not done that much
so just kind of milking uh milk on the time decay on that one but dollar moving a
little bit higher here as well after getting slapped overnight at around the
99 70 level yesterday or the day before dollars caught a little bit and the euro
is selling so that's kind of be correlated with oil.
I think dollar higher and oil higher is more of a safe haven.
Yeah, quick reminder to the audience, if you guys are enjoying the show every morning,
make sure you're liking, reposting the spaces.
That's all we ask.
We love and appreciate everybody.
So try and share this out to as many people as possible.
Get it on your timelines.
Let's have a great day trading.
Hopefully a clean one of digesting this.
But yeah, I'm excited.
Yeah, I mean, I would say on, I think it was Monday,
I closed out majority of my swing shorts that were into March. And I'm relatively neutral delta wise in my, in my trades right now, you know, outside of futures and that I'm day trading, but more swing stuff I had on I we had that high VIX.
But more swing stuff I had on, we had that high VIX in the mid-30s there.
So I capitalized, sold a lot of my puts and covered some call spreads and naked calls that I had in the indexes.
And I'm just waiting.
I think the big move next will probably be next week when we get OPEX and the VIX on the 18th.
And then you get OPEX on Friday for the quarter.
So I think the market is probably more
contained. There's vol suppression really in here because of the, you know, everybody's long,
or all the dealers have been long volatility. So I think the moves just get muted. That's why we've
seen this back and forth chop. And I think once you get past probably next week um the market's a little bit freer to
move and that could be in either direction it could be to the upside and we finally get some
expansion to the upside maybe to all-time highs or we get uh movement back to the downside yeah and
right now i'd say if we're below if we stay below this like 68 50, for me under the 21, I think it favors more downside bias until we can probably, you know, I think to be truly bullish, more medium, you know, more over the next few months.
I think we need to trade over 6950 in SPX and go and go try to test those highs at 7 000. um and then consolidate up there and then
try to run through them if that's the move we're gonna make if not um i still think we might be in
the camp of sideways to lower until we get really above 69 50.
10 minutes to mark it open a little less there was a nice little trade there i was just walking
up to my computer i caught a little bit of it on my phone but uh es at 67.65 was a nice little low
down there uh there was a nice trade you could have caught
yeah we swept it on yes and we held it on n2 little divergence yep yeah we hit that low i
was looking at it last night you had a couple equal lows down there i said that's a great spot
to catch a good 5 10 point bounce i love to scalp those areas that's something i've been doing
lately like i love to look at like you at the equal highs or equal lows like that,
maybe on the hourly.
And when we come to them, I just throw limits down in that area.
And I'll start with a small size.
And then if we start to get more bullish wicks, I can add to it.
And I try to catch that quick five, six, seven points and cut it.
And then I'll put runners on.
I'll try to get that bulk of the position just for a nice scout.
And then that's been working out pretty good doing that lately.
And then just leave runners on if it wants a continuation
away from that support or resistance level.
Want to be?
He trades in the house
He's probably getting his morning coffee
Well we got data highs that haven't been taken
On both assets
Good morning everybody
Morning B
But yeah Just gonna wait and let Good morning, everybody. Good morning, B.
But, yeah.
Just going to wait and let the market open up and show me some opportunity here.
We have...
Oh, that would be nice if we pop up to those data highs.
Potential for shorts from there.
Which one are you...
In ES?
That's on NQ, but on ES as well.
ES as well.
Yeah.
What level are you looking at?
On ES, that's 6,800.
Basically just that high of the CPI Yeah, I see the high
They could just run through that to be honest
It looks a little more like
We would project on
6804 quarter
Yeah
Yeah, NQ I'm looking at
ES looks a little bit better
yeah i don't think i don't think i would trade against that wick high at like 25 060
on nq i'd like to see like 25 125 would probably be my area that i would try to
scalp or short against for a
quick scout.
Also something just to probably notice I marked the high from,
basically like yesterday and the low from Sunday night,
just 50% of this range that we're in.
If we didn't want to dip a bit,
I can see that 608 50,
but that we would come in pretty decently.
I don't,
I don't know if the market needs to necessarily do that this morning,
but I think it's worth noting.
I just saw this headline.
I mean, this was a little bit ago, but it says,
Iran switching from reciprocal hits to continuous strikes on adversaries,
and the U.S. will not be able to control oil prices,
and Iran says oil will reach 200 a barrel.
Oh, boy.
Get ready for 200 a barrel because the oil price depends on the regional security,
which you have now destabilized.
Oh, Lordy.
That was a comment from Iran about an hour ago,
but I think big context, let's go back to the big daily timeframe and just
say, where are we? We've obviously climbed that wall of, I would say climbing the wall of worry
from the lows of Monday, but I don't want anyone to think for any reason we are out of the woods
at all. I think the big timeframe still says you have a lot of overhead supply.
You're below the 50-day.
Qs definitely do look a little bit healthier in the short term.
But I would say we're at a more key resistance area.
If this we can't get through and we start to fail back lower towards yesterday's low,
I would say that that would be a little bit more bearish.
Probably shorts under 6760.
If that doesn't hold, probably would work.
But I would still say we're not out of the woods yet.
And I don't like the fact that you got bond yields going higher and oil going higher with it.
Those are not necessarily good things for the economy.
You don't want tighter financial conditions along with higher oil prices,
which can be an inhibitor to growth if it's more sustained
because it puts the Fed on hold longer
and can obviously have some impacts on growth in the future.
But even the Russell, like you look at the Russell,
you still got – I mean, we spent a lot of time the first two months of the year
between, you know, 2,600 and 2,700 and built a nice big profile up there,
and you lost that this week.
And that's just a lot of – you know, you got two months of price action
and you got all those wicks and resistance above you now.
So for me, I still think right now,
probably selling call spreads and names,
even software like ServiceNow got hit yesterday.
Microsoft was a little bit back-footed.
You know, Intuit, Adobe, those all names faded.
But all they've done is bounce from oversold lows
and they're still in downtrends.
So it doesn't mean they can't go try to double bottom
at the most recent swing low,
but they're all mostly in downtrends.
So I think that's probably something
that we just want to keep in the back of our mind
that the trend currently in the big picture,
at least on the daily for now,
is short-term trend is to the downside.
Your 9 and your 21 on the daily in S&P are going down and to the right.
Your 50 is starting to curl now for the first time in quite a while.
So I think that rallies probably look to get sold.
And unless we can get back above trend, I think that's probably look to get sold, and unless we can get back above trend,
I think that's what you got to do.
Morning, Casey.
Good morning, Wolf crew.
Are you feeling any better?
Yeah, I'm feeling a little bit better.
Yeah, I'm feeling a little bit better.
Let's go.
We like to hear that.
We like to hear that.
The Celsius call swing.
First and foremost, shout out to Watt Bender.
I know he's listening for coming in, putting that on the radar.
But not yesterday.
Obviously, I wasn't here.
The day before, I caught out the Celsius for an hour call swing.
They went in the money.
Yesterday, I did sell the entire position for about 104%.
Oh, hell yeah.
Same.
I took that swing as well.
Nice.
Sorry, I wasn't here yesterday to update it.
But it opened up at like 45%.
And then Celsius had a continuation run yesterday.
So I closed for over 100 on those.
All right.
One second.
I see that we're inside the range from yesterday as of right now.
Yeah, it's kind of the same spot from yesterday.
Again, I'd like to see us drop lower, take out those lows that I've been waiting for,
but I don't know.
We'll see.
This market's been strong here.
Yeah.
I'm watching the video here going into the open.
It's in a 15-30 minute squeeze.
You can kind of articulate a little ascending triangle that it's putting in.
And video does it twice.
Good morning.
Good morning.
Good morning.
And the video's ripping out of the gate.
Just went over previous day high.
Taking out data highs.
We're doing a little poppy.
CPI highs almost taken on ES.
Not quite. Asia
looking for spreads already?
No, I closed them all in profit
Foot spreads from overnight
Tesla got a high scandal
Out of the gate here
Right into resistance of 404
Yeah, NVIDIA
Right into that 186 high.
Also a little resistance there, so kind of all gapped up.
Let's see what they do.
Broadcom, kind of all gapping in the first,
looks like a couple minutes here.
They're just kind of wicking off the resistance zone.
Wow, almost 406, just at.06 previous day high almost on Tesla.
Let's see if they want to push this to the Asia high.
Tesla over previously high.
It's almost a 1.5% opening candle.
Oh, yeah.
A lot of green out there.
Corby up 5%.
Circle holding its gains.
AMD up almost 2% already.
Uber, Tesla.
1.75% opening three-minute candle.
Wow, 409.
Yeah, you got some resistance there around 408.
Those previous highs there.
You got previous week high right here on Tesla.
I like it for a short in this area as long as it stays under like 410, 411.
Yep.
Just after this little overextension intraday, at least just for a little scout.
I agree. I'm on the same page.
I read that. That's exactly what I was looking at.
I did that hourly high. Yeah.
Morning, Nate.
Yo, I'm short gold from 88.
That's a gold short king.
Gold short king?
Previous day low potentially here, but careful of the higher low at 180.
Got a small short in Tesla 409.30.
Got a small short in Tesla, 409.30.
I'm going to try and write it back down.
Watch ES here.
40670.
Testing London Orb High, CPI High as well.
Yeah.
Sellers need to maintain a lower high here under 604.5 area
if they want to maintain this Trend of lower highs lower lows
No position on it yet though I'm just waiting.
Russell definitely on the weaker side.
Russell down 13 here, 14 points. Thank you. uh by the way didn't really look at it how was cvi online we have as milk toast as you can get yeah yeah everything was uh
muted I'm sure yes CPI high risk I WM weaker just back tested previous day
low selling off coming down to pre-market lows I'm sure Tesla right
here watch for a little rejection on cues as well right up here at 610.45. there goes gold needs to clear 175 if we want to test at pre-market low.
Previous day low.
I think it's buy the dips and a put spread today. Thank you. I like to see ES tag like 06, 05, 06 for a scout.
05-06 for scalp.
Microsoft, decently strong.
Google to the weaker side.
Meta, kind of middle of the range.
Amazon up 1%.
Just got new highs there.
Amazon, strong.
Microsoft, strong. Microsoft strong.
Google a little bit
weaker.
Meta had a little pop and it's
fading it right now. Kind of got
a little bit of a mixed
bag. NVIDIA did a
whole pop dropping his back flat. nice rejection here on tesla
i'm gonna take a trim here on tesla if it can pop five more dollars on these premiums
come on Tesla, if it can pop five more dollars on these premiums. Come on.
Nearly just sat there on my order.
I don't know why I have a zone right there on Tesla, but there is a zone there. James is ripping.
What price is it at?
It's up 6%, but I mean out of the gate, it's up $2.00.
Go Hams.
Something cents.
$25, though. Let's see.
Q's new highs.
SPY coming up to pre-market high. Wow.
Gotta take out that Asia 123.50.
Gold short ladder., 10-minute green. Thank you. should get to like 135 or that 140 which was yesterday's pre-market high before any dip Any dip, I would say. No pullbacks, yeah. Jeez. Just be lying.
NVIDIA pushing back up over previous day high.
I don't know if you are still weak near the lows. NVIDIA new high watch for this 30 minute squeeze to fire break out of this ascending triangle
we can get continuation up closer to 188.
Let's go, Spy.
Sweet VWAP.
This is the second candle above VWAP break for the fakeout breakout.
I would love to see a 10-minute EMA interaction, 786.
but be careful for the lower time frame EMAs.
But be careful for the lower time frame EMAs.
They may pick it up.
Q's still struggling around that 6'10", 45 area.
I need a pullback before I can go long.
IWM just made a new low of day.
IWM just made a new low of day.
Damn.
Missed out on him.
Five-point gain gold.
Covered half.
The ladder.
Very nice.
Small gap to fill on SPX they can five point gain mes covered half
five more dollars you're gonna get the flush candle here for maple short
two dollars away on spx two $2.5-ish.
There's the push under VWAP.
Coming into 10-minute EMA is gold.
Testing lows here.
$175 has to give up if you want to break previous day low, $169.
By a fail of $175, I mean a close beneath it on the 10-minute.
That's 15 points on the 10 minute. That's 15 points
on the initial gold short. I'm going to cover
down to runners.
We're still pressing
yields to the highs of the session
to two year, five year across
the board. Interest rates keep rising
here.
So you got about
three basis points in the two-year,
and then he gets us some resistance,
which probably keeps pressure on goal.
Two and three-minute nine are holding NQ so far.
Nothing significant on the flow yet this morning
10 point gain gold ladder covered a quarter gg mommy
there's the pre-market low, baby, 169.
Lower low means scale and trail.
Any entry short under a lower low, you are late.
You will likely lose.
Tell them again, people.
Tell them they're a loser.
Russell to the lows of the session.
Russell to the lows of the session.
You're losing.
Yeah, I just looked at RTY.
It's looking yucky.
Yeah.
Continuing to press the lows in the Russell here due to higher rates.
You're going to see small cap weakness.
Sectors, guess what?
Led down by regional banks.
Shocker. You don't say uh staples getting sold real estate due to higher rates getting sold industrials
uh right at the low here utilities getting sold healthcare getting sold banks getting sold again
Healthcare getting sold.
Banks getting sold again.
XLF.
And credit continues to fall apart here from the highs.
So junk bonds and high yield is definitely on the weaker side
and pressing the lows in the morning.
That, to me, says that ES likely moves a little lower
if we see these junk bonds rolling over.
Looks like lower high off CPI.
I'm going to mark a FIB from pre-market low to today's high.
50 FIB is at 783 on ES.
Yeah, 25,012 on EQ.
There's your level on SPX just hit for that downside.
Yeah, hit the like button, guys.
Hit the like button.
If you're on the YouTube stream,
support your boy.
Like and subscribe, mother chokers.
Damn right. Fuck, my bad mother chokers. Damn right.
My bad, dude.
No, don't.
No, it's okay.
I know you didn't mean to leave yourself unbeaten, but I don't mind.
I just went over and liked the stream.
Yeah.
Everybody should like the fucking stream.
All right, here we go.
Nice rejection on Q's.
IWM drilling.
Going back to that previous month low area on SPX.
There you go.
Yeah, junk bonds are getting smoked here.
I'd expect this to get pressed further past i don't know two weeks guys at the open if price is breaking vwap you reverse it
look at every single day this happens we broke through vwap on es5
and massive rejection now 12 points which is a dollar 20 on spy
and massive rejection now, 12 points, which is $1.20 on SPY.
AMD with a big pop and a little fade right here,
reversal on the five-minute.
Amazon's pulling it back in.
Somebody tell Tesla to get this memo and tell this candle down so I can trim.
Are you short?
Tesla, yeah. Damn, you're short? Tesla?
Yeah. Damn, I've been watching it. I haven't taken it yet.
Myself and Will both caught it out.
Yeah, I'm short.
409.30s.
It's my average.
I'm going to stay on it.
That low right there on Tesla, like
408.1 something.
I need it to break and get this move down closer to 407 so I can trim.
But it's not one to do it.
There's a catalyst on Tesla.
China sales jumped 91% in February.
Oh, shit.
Wow.
That's a lot.
So that is the testy catalyst.
So that is the Tesla catalyst.
Regional banks are the lows and XLF not far behind.
I'm down half percent.
XLF just has had that equal low from yesterday.
So we'll see if it'll take that out or not.
Looks like it wants to.
The mags
are actually up half a percent.
probably that's led by Tesla.
Oh, yeah.
Semiconductors as well.
Decent. And then what do you know?
Oil. Strong
out of the gate.
XLE.
Damn, bro. Moving down. strong out of the gate XLE damn bro moving down
pushing up, Oxy pushing up
banks looking weak
Apple, Microsoft
Amazon
kind of fading the highs
Broadcom
fading the highs. Broadcom fading the highs.
And AMD as well.
Coming into their five-minute nines here, a lot of them.
Oh, rugged.
Yeah, fat candles.
Rugged.
Nice rejection on queues.
Oh, yeah.
There's a 61.8 fib on ES.
778.
Short green cover red on gold.
I would add another ladder, but I feel like crazy.
This is targeting. it's targeting oh damn i need 979 oof amazon let's keep dumping it can we
24 979 is what I need.
Amazon just hit that Missy Elliott.
Missy Elliott.
Gold's dying.
Yes.
Holy shit.
Let's go.
That was a good short, man.
Good job there.
Thank you, sir.
22-point gain.
I'm going to cover down to the runners on the ladder.
Yeah, your CBC never flipped bullish, just tapped into those EMAs.
Yeah, I took my 50% on the 675 spot puts. I'm expecting shenanigans.
Yeah. 675 spot puts like um i'm expecting shenanigans yeah
nice trade with you maple nice trade with your label stacks yes sir stacking those stacks brother
i think i don't know maybe a green candle short would be decent here but your risk would have to be pretty tight. Yes, like London orb.
Yeah, the market's definitely in my head a little bit, man.
Big candle cues.
Yeah, yeah.
Damn, I'm glad I took my 50%.
Trail stop loss hit in profit.
MES.
That's why you can't chase those red candles, guys. MES short VWAP. five point gain covered half that's cash money dude cash money, dude. Cash money business.
I want to short some things, but I don't like the situations I have. Thank you. New high day Tesla She's in a mood brother
She is
She is
I'm watching her because I actually have 410 calls from yesterday.
Which are now in the money.
In the money.
So you swung overnight?
I did.
What roughly is your percentage gain on that?
Did you get 100%?
200%?
Two something.
I didn't get the low
from
when it closed.
But it did okay.
I want to show Tesla and Hems, but I did okay. I want to show
Tesla and Hams, but I can't.
Yo, short green cover red.
That's free money. Thank you. I'll just dance around these data highs.
I'll just dance around these data highs.
With this three-minute wick actually triggering a swing failure to hold high of day,
I might actually take Tesla off here.
I'll take half.
How's that?
For 210%.
Love it.
Tesla 410
Tesla 410 calls went from like
50 cents to 370
in one candle.
In like one two minute candle.
I paid a dollar for them. Thank you. I'm long.
I'm longy.
It's 62.
KikiQ 611 calls for tomorrow expiration.
And they're...
Oh my god.
Stop on Tesla.
Holy shit.
Fuck yeah.
I just
trimmed here up $45 a contract.
Okay, it's time for a put spread.
This is exactly what I thought.
It's a put spread day.
It's a put spread day.
So like that pump in NQ
There was a dollar drop in oil
Same time
I've been watching it
Yeah
From 85 all the way down to around
83.55
And we're about to see highs
Damn
I didn't
IWM got away from me
That sucks
I'm still watching Tesla
And Hymns for shorts
But I can't do it yet
I chose meta
I thought meta looked pretty weak
Meta she wrote
Let's see Meta she wrote? Let's see.
Meta she wrote, yeah.
AMD is the same five-minute candle setup as NQ.
And here it goes.
DoctrManderMES.
I literally was getting the options
chain pulled up for spy calls.
I trimmed again.
Hey, man.
Okay, B, those
Tesla calls just hit six bucks.
Look at this.
That's insane.
I was just about
to freaking pull up the call option, Shane, on Spiles.
Like, all right, this looks good right here for it.
Just instant ripper.
Seven.
Is the war over again?
Is the war over again?
MES scout to pre-market high?
There's practically nothing left to target in Iran.
That's the news.
That was the news?
And agreed to release 400 million barrels of oil.
Those both came out at the same time.
Okay, I'm out of Tesla calls all at 650.
Wow, that was... Okay, I'm out of Tesla calls all at 650. Wow.
That was...
Holy fook. I sold everything.
And I might have a stain in my band.
KT, once it slows down, I've got surprise on the uh tick arbitrage for you
i love surprises
did we get the 612 there yeah we had to 612 43 now we're back to the highs again buddy yes
damn look at this wick on spying cues
holy shit they just drain it
holy shit
did they just drain it
yeah I just
hit the I bought oil
and sold
NQ on that pop
it's working both ways
I'm going to take the quick profit
my man Frankie
60 points profit
$4 in oil.
Boom.
Love that.
And flat in four minutes.
Two more weeks of strikes are reported. Thank you. you gold's looking strong now.
Previous day high on NQ, 217.75.
That's the next big spot I have. This is a level that I may be interested in Tesla
Around this 415, 416
It's a short
Yeah
3 minute is printing bearish divergence
Also weekly
Weekly 9 and 21 Is at 41680 and 41750.
I mean, I probably I definitely just missed it there, but.
I wouldn't take it off of or pi, which is about to retest.
But also on the daily,
it's the second pinned post is the swing failure pattern
is starting to confirm over 409.
It does look actually pretty good long on the upside.
Inter day.
To me. Thank you. Sure, MES, 10-minute green. Eight point gain covered half.
They ain't fucking around today.
That's what I call a shooting star.
Look at that nasty, nasty upper wick.
They ain't fucking around today.
Watch the three minute 20 here.
That's what picked it up last time.
Mm-hmm. Thank you. How are we doing in queue? Is we can move lower?
Are we going to expand over this? Thank you. you
watch phobo here potential on es If they maintain this second 10 minute candle.
Under orb high as well.
Yeah, that Tesla short was.
Good spot.
I'm just glad.
I got a really nice exit on that.
Shit.
Yeah, and Tesla now rejecting the next zone above at that 415 and giving a decent little pullback for the scalp.
It's kind of the move that I wanted to see earlier.
There goes Tesla.
Shit.
10-minute EMA test here for the longs on ES.
All right, now watch for the balance on Tesla.
It's retesting the area of the zone from the first short spot. Thank you. There you go, baby.
10 minute 20.
Scaled more.
13 points out.
MES.
Very nice. Nice. very nice
you Thank you. Just watching this. jeez corby about 9.3 percent now today circling up down right on the day it was up pretty good in the pre-market
Pretty good in the pre-market.
It's got a big gap.
Is that the earnings?
That is the earnings gap.
Almost to 197.60s.
Okay.
Here we go. 5 minute 9, 3 minute 21, 2 minute 21, and 10 minute 9 all tapped down below there and
so far bounce.
IWM about to make new highs.
I'm going to put spread here. if the buyers fail the 10 minute 20 es is 787 it can unravel but that's my concern here for
the short thesis looks like a nice retest Thank you. Okay. Thank you. chop choppy hair oh yeah and trump also said the war will end soon ah will it anytime i
want it to end it will end but it will end soon any Any... That was exact.
Yeah.
IWM, new hive day.
After being the weakest thing this morning, it is now the strongest.
Yeah, it's doing good.
It's insane, the flippening and then the chop on spying cues. him's going higher now up 10% now. Yep, almost 11%. I'm looking to short this puppy very soon.
It just hit yesterday's high right here.
God.
26 bucks.
11.2%.
Let's go.
Watch with orb high reclaim.
That's what you're saying.
Спасибо. Thank you. I don't know. Ooh, Tesla working back under orb high.
May not have it.
I'm bracing for a little bit of chop.
I mean, that was a big pump reaction on the Axios story,
but not too enthralled since we've done that kind of before already.
Is that Evan we got got good morning we got it yo what's up evan
it might be yeah yeah i am here i am here i have been here for a while
oh i know i'm just know I just noticed you though
I am in
We're in the traveling phase right now
So life is weird
Are you still in Miami?
Right now we are on South Beach yeah
Moving over to the Brickell side of stuff in a little bit
And then yeah
Here till Sunday going to California for that
Nice
You know what they say about traders in California
not real market participants
I agree actually
smart man
this is true
send me your login I'll take care of your
while you're gone
there we go
2x my money fast Send me your login. I'll take care of your portfolio while you're gone. There we go.
2x my money fast.
Now West Coast is going to mess me up time zone-wise.
But probably be able to join some of these.
Oh, yeah.
I'm going to the GTC event, so maybe I can give you guys some insights. We'll see. I don't know if you guys care as much.
Okay, we may go down to 33 here.
And then Q.
uh shine's asking on the spaces chat what's my setup for vwap um like the settings i just
plotted on there i take out the upper and lower bands i think like on uh trading view it's just like the what is it yeah anchor period is session and the
source HLC and then it's got a slash three on it but it'll be the same on all
timeframes and I use that extended hours a lot of people don't like that but I
like the money so
damn right A lot of people don't like that, but I like the money.
Damn right.
We're going to go to – 12 points on ES short.
It's got to break that 20, like, close beneath it.
So that would show buyer stop out. Thank you. There you go.
Scale, guys.
Beautiful, beautiful short.
Or blow is a pivot, so if you break that, no more shorts.
Just scale and trail. more shorts just scaling trail it's time they may try for lows i think actually we're there
sorry no bias like uh i posted that spy chart this morning i'll get
it pinned in the top of the nest but i think we give up the trump pump dude i think we go see
671 670s from uh that trump our you know war news is over uh from monday you know this looks like
hey pop up daily ema rejection 9 and 20 uh high I told you 680 was the short or it
you know a few points off of it but I feel like that was thin tape thin buying on Monday
and uh their trailing stops are getting hit now
new low day spy beautiful. And Q as well.
IWM is getting back there now.
IWM in a three-minute reversal.
Hames, come on.
Get up another 40 cents.
Let me short you.
Let me short you.
New low of day tick, minus 809.
25-point gain, MES.
Low of day break, covered down to runners. Meta was a good one
I'm out half at 150%
then I just got filled on the rest
at 200%
nice
that was freaking awesome
it's probably got a couple of dollars lower
I see that little
business they did early in the pre-market.
I want to see if they get to 989 on NQ. Oh, come and eat.
Oh, that's at 989.
Oh, there's that 989.
So I will say, right, I did have a tag this morning.
I chased a green candle preemptive to a pivot break at pre-market high.
I think it's really important to cover your losses, right?
That's where you will learn the most during your trading journey.
So for me, buying long on a green candle
prior to a pivot break
is a predictive assessment of price, right?
That's saying, hey, there's no technicals involved.
There's no fundamentals involved.
It's just me being greedy and I paid for it.
And then what do I have to do to get back on track,
resort back to the basics,
right? CBC is bearish. I shorted green right at 800, the London orb high, and it rewarded me.
So make sure you guys have a system that puts you in check and has confirmations as to what right setup and what is a lower probability one.
30 points, yes. Break previous, stay low, baby.
Flush it.
Trump pump buyers are stuck at,
what did I say, 670, 671.
That chart from this morning,
the directional analysis is now posted
at the top of the space. Gracias. Thank you. Mm. wow that's a good exit right on that tick extension maple
i know that's not what you're looking at but um that was about the bottom of Q's. Yeah, good confluences, you know.
I'm looking to see now on this spy chart
if the three-minute EMAs are interacted with
for a ladder entry,
a reload on another account, smaller size.
We are sweeping orb low, though,
but we haven't broken previous day lows, so maybe
a bit more room, but no bias.
It's a gnarly bottom wick setting up on spy right here.
It did like his shit right here. Maybe back up in the EMAs.
I've had a hell of a morning, though.
Yeah, it's been kind of wild.
It's a great day to have a great day, baby.
It sure is.
That chip name Navitas NVTS is 21% up right now.
It's just been cranking off the open. I know that's one of the smaller chip names
that's been getting a little bit of attention.
And me a short ladder, 10-minute green. five point gain
MES short ladder covered half.
Let's go.
Let's go. Watch this mid wick here.
Buyers may pick it up, so I'm going to cover more out of the ladder if I can.
Going for lows.
How low can you go?
The market is green to red, too.
They're going to pin this bitch all day.
Maybe 100 points lower, but I think it's just going to be a pin. Dumpy, dumpy, dumpy.
10-point gain, MES, covered a quarter of the ladder.
covered a quarter of the ladder.
Beautiful SGCR.
Beautiful SGCR.
Six points below to SPX previous day low.
You said six points?
Yeah, now five.
Watch the new lows on SPY.
Now four.
Yes, I said watch that three-minute EMA back test.
Great 10-minute green for sure.
Just keeping it simple.
Let's see previous day low, 67-65 next.
Scale and trail, though.
I got two shorts on MES. meta unveils four in-house chips as part of broader data center build out oh
in-house chips that's not good for NVIDIA.
Does anyone know who their design partner is with that?
Do not.
Okay, time to do some Googling. Okay. I'm reading through the article.
I'm not seeing a mention of arm holdings,
which I would expect to have been in here.
Broadcom, AVGO, and then they're made by TSM, of course. Thank you. see if they try and bid it at the bottom of the range here Thank you. Oh yeah, yeah. Okay.
Looks like maybe double bottom, tweezer bottom here.
I still like the three-minute kind of momentum side, though.
It was a little day, 9 and 11 yesterday.
And the little day yesterday was... Oh, Monday was 549.
Okay. Black, Maynard, PS, Green Trades. Thank you. yeah a little more okay him is that my first level
mes short three minute ema risk MES short, very small.
I do have a plan to add one more.
26 puts for Friday. Oh, we get back to that still looking weak here
I think that reshort is Still looking weak here.
That re-short is...
By the way, IWM is back at highs.
Yeah, IWM is back there. Thank you. took an spx iron condor for today bad idea about a hundred and twenty dollars out of the money
okay um um Thank you. that's an app back in the end Thank you. fuck
I think I just screwed myself
I think I just screwed myself
on that put spread
I was trying to penny pinch the whole time.
Eee. Thank you. RTY does not care well the closest we got to previous day low was four points away
really they they've been hitting it by like one point and then reversing but we did not tap it like did you see that yesterday um
oh yeah
STS is doing well 5.3 percent on the day now rocket lab six percent right behind it right ahead of it i guess Thank you. What? Thank you. well they will not let me get this entry for the spread holy
else
else in the chat like big time
like massive
just film me
you know what is moving up nicely.
It's actually Intel continuing that daily trend break. Thank you. Thank you. okay
what the fuck they're holding this up
gold looks strong
oh look at that
fucking grey minds think alike
yes sir Alex Look at that Fucking Grey Minds Think Alive Yes sir
Alex
Do something
Take out those
Hives
Okay Thank you. actually why is it still flying
taking out that Wednesday's high day
or today's Wednesday I mean like this
morning
and not quite pre-market I know
but one of the highs from pre-market
getting taken out there. Thank you. so
how's that looking a little sour now. Coming in a bit.
409s.
Still a great move on the day, though.
We'll see if it holds.
Definitely storm in here. I'm going to hang around. Thank you. core we've coming in a bit still up 8.5 you
She's getting slow here. Candles are getting real tight. Let me try to bring it down there and then brought it up on that two minute. Thank you. I'll mark it at Steve's Hutton. Okay, Casey.
You there?
What's up?
So I asked, I had Quant add divergences to the tick arbitrage toolkit.
Just pinned that code.
It's not going to be, it's not in the training so
you got to make your own and just paste it in there
oh let me see Thank you. stop gold
google actually had a really strong bounce at previous day high.
That's holding well.
Microsoft is the opposite of Google right now.
Did you see they filed an amicus briefing in the Anthropic lawsuit,
saying they were directly impacted by the designation of Anthropic as a whatever whatever Department of War thing.
I don't know.
They're fiscally impacted,
but they did say
they were impacted.
You see Oracle
last night?
Killer move.
Yeah. What is that from close yesterday it's up 11.3 hit like 15 percent at the highs i didn't really read into the yes you if they call or anything.
That's a lot of business Oracle be doing. Thank you. Ooh. Ooh. Ooh.
Ooh.
Ooh.
Ooh.
Ooh.
Ooh. Ooh. you
Truly just been a chop session after we took out those CPI highs
Asia high Still haven't hit previous day high at 25,217.
Stop there.
Wow.
I'm chasing right now all goody all goody it's a tough range right now honestly
Okay. Nasty little bear flag breakdown on Amazon. Thank you. Thank you. spx iron condor a hundred dollars out of the money, is up 40% here.
Let's go.
Go, hims, drop.
Droppeth the hims?
You know, I went short that for the contest this week, and I think I'm getting fucked.
Oh, yeah, you're cooked.
But I'm short right now, and I'm I'm getting fucked. Oh yeah, you're cooked. But I'm short right now
and I'm about
to go green.
I might take it short again this next
week though because I do think we'll test that gap
on him so I don't think we're just going to leave that open.
Maybe I'm wrong.
I mean, people were more than happy to buy this stock at 60 and now that there's the catalyst
oh a reason why you wouldn't refill that gap is um because we gap down about the same level
so it's an island i didn't see that that's why I'm thinking like it's potentially like could be breakaway, but.
Yeah. And the biggest bear case, you know, they won't have the products to offer with licensing and stuff is pretty much gone now.
That that Novo deal. Yeah. And then peptides.
That's people are excited about those peptides.
Have you seen the search history on
i'm not excited on people looking at the data approve that though i don't know that they have
to i hope they don't because then the peptides i buy are gonna fucking be jacked up in price
it was ridiculous and i'm gonna i can't i won't be able to get them from where i get them
likely do you have a good source. Do you have a good source?
I do. Do you have a good source?
They've been good to me.
I've been using them every day for months now.
I'm going to
DM your personal on that.
Yeah, absolutely.
Feel free.
did months of research before I really took anything because I'm quite particular about what goes in my body.
Especially in that way, in your bloodstream, you know?
Yeah, absolutely. I've got a lot of research going too but yeah i'm happy to chat
but i'll be sad the day that uh peptides i buy every month for like 200 300 bucks are gonna be
freaking thousand dollars a sad day I need to get some more out here though
Which takes forever in Puerto Rico
Ages upon ages
You got a sister in Hawaii
And yeah getting anything to that island
Takes a while
Yeah that sucks
That's the only thing And I got no TikTok shop out here Getting anything to that island takes a while. Yeah, that sucks.
That's the only thing.
And I got no TikTok shop out here.
TikTok shop doesn't ship to Puerto Rico, so just big L's in the chat.
Don't worry, I'm not getting the peptides from TikTok shop.
Don't worry.
You just know what I was saying?
Yes, yes, yes. Bro, if you're buying peptides off TikTok, you need to get help, like right now.
You need help. You need need serious help it's not okay
it's not okay
iwm coming in now.
IWM coming in now. IWM coming in now.
IWM coming in now.
IWM coming in now.
IWM coming in now.
IWM coming in now.
IWM coming in now.
IWM coming in now.
IWM coming in now.
IWM coming in now.
IWM coming in now.
IWM coming in now.
IWM coming in now.
You should have done better than that. You should have done better than that. Thank you. I don't see why coming into
Cuddy has four points CBC flip
I think we might get a little drainy here
getting caught in range. Thank you. Spill feed. Let's see if we got lows.
Holy shit. holy shit someone hungry
oh that was probably me
yeah
my stomach's right here
here's
an earthquake
yeah
you owe me some food
oh there it is oh Yeah, I gotta make some food.
Oh, there it is.
Oh, bye-bye now.
Why, you sir are cooked. rinse them
rinse them
yeah good eye
good eye
good eye guys
cut a little
100%
I'm gonna call it a day
yeah y'all are fun to trade with man it's so nice to have you know i'm grateful but uh
hey y'all happy trading man stay safe out there i'll see y'all happy trading
y'all have a good day bro have a great day my man Can we just drill and take out those fucking equal lows?
Alrighty.
I can't believe they're still there.
Let's see. Thank you. That might have been it.
Oh, take extension this way.
Is that your reversal thing you like, right?
It's the overextended on the downside.
It's not the divergence.
Oh, yes, yes, yes.
Sorry.
I don't know why I thought that would be.
Minus 992 tick.
Look for a little futures long scalp down here
yeah minus a thousand a double dot just fired so probably good for a quick future scalp by the
time the audience hears this it might even be like 10 and Q points up.
Or is this the time where they finally want to break SPY underneath pre-market lows and previous day lows and start selling it lower?
10 minutes CBC short ES. IWM just bringing it all back off pre-market highs. Thank you. Alright, see we can catch a little bit of a bouncy bounce down here I want them to take those come on 923 or 900 see where spx is at previous day low is 67.60 about three dollars a lower on spx
i think we're this is where we grab previous day low on SPX.
That may be what you just said.
I just heard dollar instead of points.
Yeah, yeah.
Could be a little head and shoulders on your 15 and 30 minute.
Go, Hems. Go.
I'm green on Hems.
A little wonky one, but... So this indicator that I just pinned on HIMSS is volume surprise and does the statistical
what volume is expected and you can see how hot HIMSS is running. Alright. Grab a small long right there. See if we can retrace a little bit back up here. Gracias. Thank you. Come on, a little bit more.
A little bit more.
Come on.
Keep pushing it a little bit higher.
Come on. come on candle closing in three seconds
it didn't hit previous day
a little in SPX but it got close
ah We should get into the 86 to 90 there on nq two minute little candle here looks nice
oh come on phil all right there's a there's a 90 go. All right, stop at entry.
All right.
You now have a neutral tick, so that would be, if you're doing a tick flip on arbitrage, that would be your futures exit right there.
That was it.
That's the only reason why I did it, BK.
Bada boom, bada bang.
That minus 1,000 right there, it got close close to pre-market low on spy as well so i was like okay let's see if we can retrace it get that tick back to the zero line and it damn near got close right
there so that was close enough I see if they can continue to push it up closer before they stop out the revs, but I have
me of little faith.
Oh yeah, he has little faith. . Elon Musk is talking about how Digital Optimus is a joint XAI and Tesla project as part of Tesla's investment agreement.
I'm trying to figure out, I'm trying to figure hate where the heck do you add your accounts to see
because i actually just deleted it oh my gosh yes is so close to tapping into this four hour gap
six seven 67 62 25 six what 67 62. It's what I wanted to see yesterday.
I think we're going to go there now, but
fuck, every time I've thought that past few days,
we just ripped from
ticks above it, so
I don't know. At first, you said
6-7.
Where do you think we're going?
Just on ES. Not even much lower, really.
Just 67-62-25.
I want to see us retest that spot.
We have so many just all these lows.
I have a level at 67, 64 is the reason why I took this long.
Again, I think we will see that, but fucking every time I've thought that.
Look at the past few days.
Every time we've wicked right above this level, it's tough.
So, you know, take what I say with a grain of salt here, to be honest.
I've already went 0 for 2 trading SPY.
And then literally SPY was setting up for the long I want it again.
And I was like, I'm not going to take it here because if price action is going to continue what it's doing,
it's actually going to reject and flip it straight back down.
Lo and behold, look at the 11 o'clock reaction.
And then we got the move back down.
I was like, every time we're getting close to these spots i was like like you're wanting that that continuation
on it i was like right now the pa what it's giving you is you have to think the opposite
when those areas are tested and just as you think it's going to happen do the opposite until proven
wrong yeah look here we go all right trim out more of the long here
let us see it should be close to about 25k on mnq as well
all right there it is out half
it's about to be Thank you. Thank you. see if they bring it in from this old bounce here
back to some of those emas
all right the spx our on condor is up over 50 right here but it hasn't filled my trim yet
for whatever reason but it's over it's at 50 percent and just waiting for the broker to on SPX is a little wonky.
Once it fills,
I'm going to put a stop at entry.
Someone buy these contracts, please.
Take them off my hands, would you?
Please.
Here we go.
Could have had a better entry at SGCR, but still short.
Let's see if they fail previous day low.
I still want 670s, but it may just take a couple days.
Anybody buy my contracts, please.
I will give you top dollar.
Top dollar.
We're exactly break-even on the day.
Right here.
Let me see how to add this onto my chart, because I don't know how to add it on here. Thank you. What did I do?
I can't figure out how to add these things back on to the chart.
Are they indicators you have coded?
No, on Trade of Eight.
I accidentally deleted a tab where I had my accounts listed at, but I don't know how to put it back on there. It kind of wants to go up, but oil's too strong.
Come on, ES.
Get down here.
The oil is strong.
We're going to see the lows here.
What's that?
How's the morning been?
Awesome.
Good, good.
Awesome.
Here we go, Loney Tess.
Fantastic week. Take it, ES yes you little shit rugged literally been forever there's previous day low yeah
let's see acceleration
see acceleration I was gonna say I think we're either gonna see an instant or
green or red market low should see 900 here there it is a yes there you go
There you go.
Let's see if they can continue it now.
It's the first break.
We need three minutes to confirm it,
but it might be a lower low on index,
higher low on the tick.
And Q's about to take out those equal lows.
Please do it.
Just trying to figure out how to add this shit back on here.
10 point covered half MNQ, or MES, excuse me. yeah i think that little wonky head and shoulders is looking like it wants to
go down you're near the neckline down here.
What a beautiful move.
Hell yeah.
Mate, you get that? You get some back on that?
Let's go.
Let's go.
I need those Trump buyers to stop out. Trailing stops, get tagged,
reach the imbalance.
Gold was a
really good short off three-minute EMAs.
I just kind of like what Casey
said. He really said it perfectly, right?
Like what you feel super confident in the market at times,
you have to inverse, especially
on days like today where
normally we
expect a trend, right? And what have we got in a range day?
Yeah.
You turned a little robot-y.
I can still hear you, though.
A little robot.
Just slide it.
I think we get a little divergence.
That's a tick divergence bounce there.
Yeah, he has just taken out these lows, and NQ isn't yet.
Still waiting on those equal lows from the past few days
on NQ, 892.50.
I would even like to see it lower into the
same gap that ES is testing at
832.50, but
I don't know. I might be asking for too much there.
A freaking tough market, man.
Freaking
tough market, man.
I definitely see a lot of our boys doing well in this environment.
You guys can't sit at the party for long.
You got to take profits when you can.
Yeah.
This is not a market rewarding swings or long directional holds.
I just know there's people probably, you know,
struggling in the audience in this environment lately.
And trust me, like, you're not alone.
This environment is tough.
I've been doing all right.
Been making money, but not hitting the plays I'd want to play,
like Frank said, forced to take profits a lot earlier on plays.
And it's just, it's not an easy environment.
So don't
Don't beat yourself up too much if you're in the audience struggling
of course don't be making stupid decisions, but
Still this isn't the easiest environment to trade and given what we've had over
Kind of into the beginning of the year, so I'm not posting about this, but there is Lucid getting a little
pop on
Jensen testing
autonomous driving system
from them.
Dude. autonomous driving system from them. Dude, what the fuck?
I can't get my spread, man.
Neutral tick.
That tick divergence was confirmed.
8 points now, SPX points, if you took the extension dot at 1131. Short goal, three minute CBC.
Wall Street Journal says Iran is exporting more oil through Strait of Hormuz now than before the war started, rising by 100,000 barrels per day since war began. Thank you. Okay. NVIDIA, a nice wick and bounce off Orblow. Thank you. Thank you. Come on, jump just a little bit more.
I'll get my fuckin' spread. Go. Go. Go. Oh, go, go.
Yep, drop it.
SGCR, gold, maybe 169 previous day low. Come on.
Uh-oh.
Yes, kind of sweeping that low I was looking for.
NQ's still holding, not taking out these lows yet.
You said ES is sweeping?
I mean, it broke and reclaimed so far, that 67, 25 but if NQ needs to continue to drop I think it can get back
under it's just I don't know this is a hard spot if NQ was already dropping to
the spot I'd be lower high right now.
Is there a live stream today?
There will be a live stream today.
I know a lot of people are probably looking for the live this morning,
but Ryan's out just handling some things.
So he's not going to be around today.
And I have to be on spaces
here until about 1 p.m eastern so we'll start stream around 1 30. Gold's still drilling.
Really just hanging out at SPX and previously said hello.
Nothing exciting happening here.
very short term I kind of like this high low you can also see less a higher low on the tick as well
not a divergence but is showing lessening cell pressure Honestly, it looks like a re-short here on Enque.
Maybe pop a little bit higher.
But it just looks wait here.
Come on. spy another scale down here on the red candle gold short green cover red potential as well and they go boom it was just another reshort Thank you.
Still got 30 points to all those equal lows.
I'm so done saying equal lows.
Go get him. tesla nice dip from the highs geez it's coming in pretty good new low day spy beautiful 10 point scales again if you missed it, let's see. A bit lower here. Yeah, this is why... Oh my.
That's why
when you ask me
not, it's like,
yeah, we are sweeping it, but I think we could drop lower
because NQ hasn't taken out these spots yet.
No, I
want it lower. I need it lower.
Come on.
I need to get filled.
Stop with these wicks.
I really don't think the true, like,
trend change on this bigger time frame happens till you're 32.50,
but let's see.
Let's see, market.
I'm still sticking with that.
I just joined in.
We need nine.
Oh, what's good?
What's good?
I don't have the fa on here, unfortunately.
But when we get on stream later,
1.30, I'll hit you with it.
We just need to sweep these lows
and then we can fa all day.
Yup.
Go, go, go.
There's like 50
orders, 40 like just lining this like 900 890s area
dude because those freaking equal lows from yesterday we haven't grabbed them yet we gotta
go grab those i i don't think there's a real long until we grab them but i thought that the past
few days as well and there's been beautiful launch from there but yeah i just ain't taking
that shit when there's perfect equal lows right there i know the market wants to snatch them
big thick band of liquidity
it's just sometimes you have the market half gold here oh nice 300 point move to the upside like
yesterday before you actually take it out i started shorting so 50 that uh top of that candle at like 955 yeah
nice and then the candle i saw come up i'm like all right time to short right into that that was
that uh that asia high yes next target i have 67 67.41 on Spy.
672.22.
And I still want 670s for the Trump Pump buyers.
Yo, babes.
A little bit further in, too.
Another 10 points.
You can do it.
That's almost 40 points before the Trump pump.
We could get a big
little, like, uh...
I can't think of the word.
Take it out.
Take it out.
Take it out. I'm going to go ahead and put it in the middle of the middle.
I'm going to go ahead and put it in the middle.
I'm going to go ahead and put it in the middle.
I'm going to go ahead andking coming in the clutch dude he's coming let's go
oh i just got filled down there at like 890 or 888. I got an order to scale gold, 169.
Oh my gosh, they took out the equal lows.
Finally.
All right, this is the imbalance we want.
We need these buyers to stop out.
Bunch of bitches, bro.
I can't believe
is there news on MRVL
or is that just
naturally dying
I think it's just rounding out
anything
next spot I have if we display some of these lows
is 832.50
you said 830, 850?
Yeah, I got 838, 840 right there, yeah
Yeah, it's just a four hour imbalance on a CS3 test
Watch the long right here on queues
Yeah
Yeah, you could bounce from those equal lows again
You did sweep them
i'm just glad we finally took those out that was that's been pissing me off for the past day
that was the move because i lost money on it too yesterday it pissed me off
nothing like a good old revenge trade
dude when we leave these equal levels like this in the market
i get into attack mode bro
by 32 SGCR, Scout, watch it.
10 minutes.
I might rage.
You said you might rage?
Yeah.
Fucking rage.
What happened?
It's not filling me for my spreads.
At all.
On any of these drops.
To enter or exit?
To enter.
It's almost noon.
I'm about to exit mine here in a second.
You're about to, I mean, buy my contracts.
Yeah, bid them up.
I'm trying.
Buy my contracts.
A positive ticket. I'm sitting at 50% again right here, and they still won't fucking fill it until
Knott's enters in and buys my contracts.
Oh, dad, dude.
That's awesome.
Look at that
Q's candle.
It's pretty strong.
They rip it off
the freaking sweep.
Look at that.
Sell 45. If you took it it this is a trim spot nine said oh you want to short the whole homie we
bounced it i was going to take a long bear too i know i had the level marked at 895 on mnq 95 on MNQ. That is 50 points.
Nice.
Gosh, we barely sweat those. It was one tick.
One tick.
Not even a point.
It was literally just a tick.
It's disgusting.
I got closed 24889.
Flat.
Let's go.
Just disgusting. oh my gosh i'm about to take a 45 fill on these contracts oh my god
go 45 trying to get some money back on the option side
come on profit train coming in well crew we're almost in lunch so watch out i get weird yeah we came up to those asia lows swept them the prior four hour low swept that
now we're bouncing up we get back up to the Daily Open. Asia Open and London Open.
They're all squeezed between
25.06
and 25.19.
25.20.
Where was it? Midnight.
Midnight.
Money markets
pricing.
ECB rate hike
in Europe by July
Oh we ran into that midnight open
perfectly this morning I didn't see that
Oh my goodness gracious
SPI let this bounce
We're gonna go
Sell 30
Steven Hawker
I didn't know we had
We got lunch coming up
We are gonna
Deep dive with Yield Max over the next hour
But then just after that
After we wrap that up
I'll be on stream for everybody, so
I'll send you boys the link for that.
And we'll hang
out there the rest of the day.
I'm having a good day
after that Tesla morning.
Hell yeah, BK, great trade there.
Maybe I should order some, DoorDash some sushi
or something.
Yes! I think that's sushi or something. Yes!
Yes, yes, yes.
That sounds great. I might do the same.
I would do the air horn right now.
I'm hitting it.
I just can't hear it.
Some Pokeballs
for the boys?
Oh, yeah.
Sushi time, motherfucker! dude yeah i used to have this sick pair of board shorts that had sushi rolls all over
them oh that's legit hell yeah that's legit your role dude i want i want sushi roll board shorts
those are fire wear those out here in puerto rico bro. Dude, I tagged you in my backflip video.
Oh, let me.
It's on my.
Oh, was that my personal or wolf trading?
Ace.
Ace the kid.
I got you.
Hold on.
Yeah, I'm new to the spaces, guys.
So for those that haven't followed me, go over to my profile.
But I trade in.
Shout out respect.
With Emp, I guess Ryan Wolf, then jay minks and rizzo
so i'm a part of that crew oh yeah so i've been been uh trading for about six years or so and
really just uh turned the gas on in the past year so i've been corporate sales for the past 12 years
went through a lot of layoffs and decided to really take this seriously um so i got paid
out 100k this year from apex um gotten you know 20k from tradeify here there and and top step
including some other ones so really trying to turn up my trading and do this uh full-time now
so i love it bro you're a savage appreciate it i just saw that video too
throwing the backflip bro it's flipping friday boom oh that was awesome
sick i followed you back so i didn't even see to be honest i i do not look at my
notification on instagram very often, so I apologize.
And we're...
We're flipped right up the street.
24, 9, 60.
I'd like to see this continue up.
Was Ryan in Discord this morning?
You talked to him?
No, he's busy's he's busy he's
handling this stuff yeah he posted yesterday evening um so i haven't seen him
nor have i seen rizzo by the way feel free to hang out on this uh on this next conversation
we're gonna lead into um yeah i'll be going we're just gonna be talking. Yeah, I'll be going. We're just going to be talking some ETFs.
So if you want to hang around, feel free.
And then I'll be on stream after.
Yep, I'll be joining that and I'll be going on mute.
Sounds good.
No worries, bro.
No worries.
Get Michael Coe up here.
Michael Coe, it's giving me trouble getting you up here.
There was an error adding Michael Coe.
What about Matt? Michael Coe. What about Matt?
Michael Coe, if you can hear me, maybe try and leave and then rejoin.
It's giving me issues.
Weird.
What a bounce for us.
Those lows.
Well, crew, for those that don't know, leading into lunch here,
usually gets a little slow, especially.
We've had some decent moves this morning, so just be careful out there taking any positions.
But stick around.
We're going to have a fun conversation with Michael Coe and the Yield Max team. As always, every Wednesday we do this at 12 p.m. Eastern. So be mindful if you guys have
questions, use that purple bubble on the bottom right of the spaces. Comment any questions you
guys have. Lots been going on with volatility. I think we're going to talk pretty heavily about
PLTY today as well because I think the distribution was fat over there this past week um with the volatility so excited to get into it with Michael
Coe I still having trouble getting them up here though I don't see are there too many people up
here I can jump down oh no it's not, it's not that. It's not that.
No, we're good.
The EMA is trying to guide us here.
Yo, pleasure trading with you guys.
Catch you later.
Mabes, beautiful morning, brother.
Yes, sir. There we go.
Sound like we'll throw a message.
We'll get some other speakers up on here. I still like to see us move lower on NQ, but clearly getting some buyers off those
But clearly getting some buyers off those equal low sweep,
previous day low sweep as well.
Forgot to mention that, the equal lows were also previous day low.
Ton of confluence there, that's for sure.
I just would still like to see us break lower now
and just head towards that 832.50.
But market doesn't have to do what I want necessarily.
I don't really think this is a full reversal quite yet, though,
even with that bounce.
Start to break over back into like 25,000,
then maybe I'll swallow those words.
Okay. those words.
Let me get my a pin now. There we go. I think we got him now
Michael we got you
I don't know do you
there he is
let's go
I don't know what's going on
yeah it seems like
there's just
we get
always some little buggy thing going on.
Right.
With these things.
Yeah.
Without fail.
All good.
How are we doing, sir?
Good.
How are you?
Doing well.
Another crazy week in the market so far.
You know, CPI data this morning, which kind of made the market interesting back and forth
today.
It looked
like we were going to start off pretty trendy and then just came back in. But lots of trades
to be had for sure. And a lot of volatility in the market. I know that's been helping some of
the distributions over the past week on some of the tickers. So I'm excited to get into it. I know
a lot of people are talking about PLTY over the past few days, which is cool to see. So excited to get into the conversation as usual. Before we do get into anything real
quick, just for the audience, quick disclaimer, because we will be mentioning some tickers
in this space. An investor should carefully consider a fund's investment objective,
risk, charges, and expenses before investing funds perspectives and summary perspectives contain all
this information and everything else about yield max so if you guys want to find that just go to
yieldmax etfs.com and you can look over all the tickers there as well um and you know everything
we talk about today so michael co excited to get the conversation rolling as usual how's this uh
how's this week been treating you with all the volatility and some of this data coming out and kind of the last leg of earnings?
Yeah, you highlighted it.
I mean, I'm not sure that earnings is really the biggest driver of volatility at this point.
I think that's probably geopolitical events, but I'll probably just touch on that in just a second.
And some of you have already seen it in the distributions. but a couple of quick announcements I figured I would make ahead
of that. And as always, thank all of you for joining the Yield Max spaces with Wolf here. We
appreciate everybody getting together to hear about what's going on with us and hear a little
bit about what we're seeing and thinking with respect to what's going on with us and hear a little bit about what we're seeing and thinking
with respect to what's going on in the markets and in our respective funds.
So first thing, which we're pretty excited about.
So tomorrow, March 12th, we're excited to be launching the Yieldmax U.S. Stocks Target
Double Distribution ETF, which is otherwise known as Quad D, ticker DDDD. The goal is pretty straightforward.
It targets approximately double the annualized distribution yield of SCHD, Sierra Charlie
Hotel Delta, by combining exposure to high-quality U.S. dividend stocks with an actively managed options overlay.
And so that's pretty exciting.
It's the first ETF in the new YieldMax double distribution family.
It's built for investors who like the dividend payer foundation of something like SCHD
but are looking for a vehicle specifically designed to target higher incomes or distributions
using options premium on top of the dividend base
that the underlying stocks are going to be providing.
So we're launching into a pretty tense macroeconomic backdrop.
The Iran conflict has introduced some significant geopolitical risk into the markets, stirred
concerns obviously around the energy supply and injected another layer of uncertainty into both rates and equities.
And so we're closely monitoring the situation, as I'm sure all of you are, and are continually adjusting our options positioning and portfolio exposures to stay aligned with the evolving market dynamics and liquidity conditions.
One of the direct results, which you highlighted, has been the heightened volatility, and that's showing up in the options market in quite a big way.
Higher implied volatility will tend to translate into higher options premiums, which can support the higher distribution levels that we saw this week for our option income strategies.
for our option income strategies. Just to put some hard numbers around that, several of our
option income ETFs are posting annualized distribution rates north of 80 to 100 percent
based on the most recent declared distributions as of this morning. So for example, CRCO,
Kony, PLTY, which you mentioned, XYZY are all showing triple digit distribution rates this week.
mentioned, XYZY are all showing triple-digit distribution rates this week, with some others
like Mernie, Morrow, Winter, PYPY, Misty, and NetFleet also coming in at highly elevated levels.
Of course, the distribution rates of these funds will vary significantly from period to period,
but it is an illustration of how volatility can be harnessed with options income overlays.
So yeah, I'm going to leave that as sort of our starting point.
And if folks have some questions, I'm happy to get into it in greater depth.
Yeah, I love the highlights there.
I know PLTY and some of these others were going crazy.
And that just goes to show, like for the audience, when this volatility comes around, right, you can really capture a lot of yield with it.
And, you know, can't really be doing that on the underlying itself.
And so that's why it's nice to kind of position yourself in a way where you can still be along the underlying, right, but also maybe have a portion that's capturing this yield on
the volatility here, right? It's nice to have that paycheck every week coming in. So just love that,
Michael Ko. Love to get around the panel a little bit, starting early here. Todd,
unconventional wealth ideas, my man. Great to have you on again. I'd love to see what you've
been looking at this week, a lot of volatility in this market, a lot of things going on geopolitically.
What are you looking at?
And I'm curious if you have any thoughts or questions for Michael Cote here.
Yeah, it's great to see you guys.
Thanks for having me back on.
Yeah, it's been a really volatile week.
I'm excited about Quad D, you know, because that'll help limit some volatility, you know,
going into Schwab D's of the
world, but they don't really help you enough. You know, when you're using margin, like we do at my
channel on conventional wealth ideas, you know, I use some margin. And so quad D would help pay
down that margin faster while giving us some sort of protection away from, let's say a tech rotation or just a hyper growth rotation you
know value stocks did really well recently when tech sold off but maybe now tech is starting to
show signs of life again and value is starting to come down so it could be even a good time to
enter quad d as it comes off as schwab d comes off the highs and value stocks begin to correct. But with all that being said, with this perhaps tech rotation happening,
from value to tech, I've been looking more at YMAX.
And Ulti has been my go-to, as you know.
And we talked last week about Ulti and YMAX and the potential split
that we could have with YMAX and how much the split helped us with Ulti.
But WiMAX has been pleasantly surprising lately with the price action.
On Friday, for example, it was down less than Ulti.
And I noticed that as an opportunity in my portfolio to to consider i don't know my question for you guys is tactically how do how should
investors be approaching wymax and ulti now ulti was my largest holding i had about 20 percent of
my portfolio in it rightfully so i think because even though it's quite volatile it has protective
you know protective positions on each position if i'm if I'm understanding that correctly and it helps pay
down pay it helps pay down my margin so fast that it you know it really reduces margin leverage risk
so I had a lot in ulti but with the changes in WiMAX I'm starting to reallocate towards WiMAX
and what are the main differences in in your guys opinions of WiMAX uh now like the main differences in in your guys opinions of wymax uh now like the main difference between
ulti and wymax and how should we approach that first of all you know and i that's the that's
the first question i have and then it's kind of like a five-part question like first of all um
if you could you know uh elaborate do you plan on using any leverage anytime soon, first of all, with WiMAX?
Well, I'll start with that last part first.
Yeah.
And, you know, look, leverage is a topic that comes up a lot.
There are funds that deploy it.
It is not our intention to add leverage to WiMAX at this point.
We don't really employ leverage on any of our funds, actually, really.
So some people are critical of the use of leverage.
I'm not particularly.
I think that leverage can be appropriate if it's deployed strategically.
And I mean, you emphasize that you're using margin.
And really, I think that goes a little bit to our underpinning philosophy here, which
is that it's possible for investors to add leverage if they want it.
But we can leave that up to you all to decide whether or not it's
appropriate to do so and when you want to do it, rather than sort of trying to divine how much
leverage or what the net effect of leverage inside of a fund might be under different market
conditions. And, you know, our perspective is better transparency and leave those things in the hands of investors that we think are tools that they should have at their disposal, not necessarily imposing it on them.
So, yeah, no leverage.
I mean, Ulti, of course, is sort of, you know, the standard bearer for high distributions.
you know, the standard bearer for high distributions.
WiMAX, it'll be, you know, I think,
going to take a little bit of time
before you're going to start seeing how the changes
in the construction of the WiMAX portfolio
are going to play out over time.
So far, we've been very happy with the changes
that have taken place in Alti since those changes were made.
Now, because Alti has, in general, not all of them,
but in general, there are higher volatility, higher beta stocks that are going to be in Alti.
It's not surprising to see it moving around a lot with the volatility that we've seen.
But one of the ways we look at the performance of Alti is to compare its total returns since those changes to the investment process took place at the beginning of December.
And we're happy to see that the total returns for Alti have beat the S&P by about 110 basis points or so.
points or so. The Qs, which are probably going to be even more closely correlated because the Qs
have more of sort of the tech and higher volatility componentry in that class of constituents.
It's been outperforming that by more than 200 basis points, probably about 214 as we speak to you now.
So yeah, we've been happy with that in terms of its performance.
I think that's really the way we should be thinking about that.
And my expectation is with WiMAX, just because it's now going to have sort of more exposure to the funds that have some momentum.
I expect that to have some good results.
At least that's how it has done as we've modeled this out.
So, yeah, I mean, that's all I can really offer you there.
Yeah, no, no, great stuff.
I'm in complete agreement.
I'm glad you're not using leverage for WiMAX
because, I mean, what I'm saying is
I'm thinking about moving WiMAX ahead of my Ulti position
because Ulti has been great.
It has been my anchor for so many reasons.
You know, you can see all those in my videos,
all those reasons, and, you know, in the past shows that we've done here together and you know so many reasons to be an
ulti i think i really could go on but wymax now really interests me what is your target yield
now expected to be for wymax is it something similar to the past yeah i, I mean, it's, you know, one way to think about the,
so the target yield is going to be a function of the target yields for the underpinning funds
in it. And unlike the, say, target 12s or 25s, those targets aren't fixed. So the target yield for the individual underpinning funds is going to be
essentially the annualized implied volatility. So, you know, if you think about, so what does
that mean? What it means is that as implied volatility goes higher, then the traders are
going to be increasing the amount of premium that they are trying
to harvest from one week to the next.
And I think I illustrated this.
Actually, you know, I should mention this because sometimes it's really helpful to be
able to show rather than tell.
I'm going to explain it.
But then, you know, if anybody happened to tune in, we did a post-close X live event last Thursday.
We'll be doing another one tomorrow where we were actually able to illustrate this.
But the way to think about this is that if implied volatility rises, so let me give an
example.
You have a stock, we'll call it stock ABC, and stock ABC has an implied volatility of
call it stock ABC, and stock ABC has an implied volatility of, call it 40%.
So let's use that as sort of the trader's target for the annualized effective yield that they're
going to try to collect in the options overlay component from one week to the next. Two things
happen. As implied volatility rises, of course, then options premium in general are going to rise. The other thing that will happen, though,
is that you will find if you annualize that yield, and let's just say as a simple example,
we're not selling covered calls, we're selling call spreads, but I like to use just covered
calls as an example so people can kind of work through this at home and you're looking on your brokerage platform and you're saying, well, what exactly is going on there and how does
this impact the expected returns? When you annualize that yield, not only are the options
premiums higher, but the strikes you sell relative to the underlying spot price in general will be farther from the current spot price. So you have the benefit of
higher options premiums, but you're also sliding those options that you're short slightly further
out of the money. So you should expect to have a little bit more capital appreciation potential
potential as well. Now, because we're selling call spreads, not just covered calls,
as well. Now, because we're selling call spreads, not just covered calls,
we're targeting in the neighborhood of 75% to 80% capital appreciation anyway. So in those
instances where the underlying asset has a really sharp move week to week, we're not giving away all
that upside the way a simple covered call or buy right would. But those are kind of the dynamics
as you're just sort of thinking through it in your head, like how this works.
That's where the targets on the non-target 12.
So target 12, target 25 funds have a fixed target.
And the other ones also have targets that the traders are going after.
But those are going to be a function of the implied volatility of the underlying asset, if that makes sense.
Now, just to elaborate on that one final bit, if you are looking at the target 12s or the target 25s, the same dynamic exists.
But since you're not trying to increase the yield capture per se on an annualized basis, you can push the strikes even further out when implied volatility
jumps. And, you know, sort of a benefit of that, that might not occur to people right away,
is that under what circumstances do implied volatilities generally go up?
Now, we have kind of an interesting geopolitical backdrop now, which we can discuss if we like.
But in general, you will see higher implied volatilities for equities after they have fallen.
Right. So that's kind of like the relationship that as a heuristic that we think about,
that calm, steadily rising, lower left to upper right markets,
typically you're going to have relatively low volatility, relatively low options premiums.
When you have exogenous factors that either cause an individual security to gap,
usually lower, then you'll see higher implied volatility. So if you have a target
of, say, 12% annualized yield in Quad D, it's going to be double the dividend yield for the
underlying asset, the stocks in SCHD. What's going to end up happening is that when those
securities fall and implied volatility rises, you're going to end up happening is that when those securities fall and implied volatility
rises, you're going to be selling options that are further away from the money.
So essentially, you have more room if the underlying asset recovers.
So I hope that's helpful.
That is super helpful because that was one of my follow-up questions with Quad D was how
you would make it work like Schwab D, you know, without the decay
and maybe still getting that upside participation. And that was a really great explanation of how
your options work in general with IV implied volatility. And I guess just all I want to say
in closing is, and I really appreciate all the time is just YMAX has about a 50% distribution I'm seeing just currently on
your website. And that's really, you know, a really nice yield for investors like us who
want 50% with 50% maintenance like it is at E-Trade. So it's not killing us equity wise.
And obviously the stock split would have a lot of impact on that once that day comes for YMAX,
the reverse stock split. But at 50% yield, 50% maintenance, and you've taken out a lot of impact on that once that day comes for YMAX, the reverse stock split. But at 50% yield, 50% maintenance, and you've taken out a lot of those high beta names,
if I'm understanding those moves correctly, the updates from your site, you've taken out
a lot of the high beta and it's gone a lot more into, I'm not going to say higher quality,
but just lower volatility names indexed.
And, you know, you have the other other funds in there that can they can balance things out.
And it just seems like more of a core holding for me that I should be looking at and maybe perhaps waiting that over my ulti.
It's a good problem to have. It's a good you know, it's like I keep them pretty much one and two already,
but do I take WiMAX and put it over ulti?
It's kind of like my big question, you know,
because 50% yield is hard to pass up.
And now with the lower volatility, with the changes you made in WiMAX,
it's just really appealing.
But nonetheless, you know, and WiMAX did great since inception
when y'all started, if you go look at the website, you know.
But now with these additions, I feel even more confident in wymax and uh but i'm trying to just be completely
objective about it all and i did have wymax a little bit lower uh like a few weeks ago but
with these changes i've like reversed my stance on wymax i had to because i have to respect the
yield and the lower volatility.
And it had a good day of participation recently in the market showing it can move.
And so I was just wondering what y'all's thoughts were tactically,
how investors should be positioning with a WiMAX and an Ulti.
But I know that that's something more nuanced.
And down the road, I'm sure we can talk more about that.
But I appreciate your explanations on volatility and how you, you know, get get the get those distribution yields.
And I have no further questions except, you know, because you pretty much answered all those questions.
And so, you know, especially with the target yield and all that.
And so, you know, especially with the target yield and all that.
So if it's going to stay around 50, it's just something that I'm going to be looking a lot more at because that's a nice yield for the balance of volatility that it gives on a down day, if that makes sense.
And I know I'm just thinking out loud, but I appreciate you having me on the show nonetheless.
And thanks for talking to me about it.
Thanks for your questions.
Todd, always appreciate you, my man.
And, you know, if along the conversation you have other thoughts, feel free to always step back into the convo. Thanks for your questions. Great name. Love it. He was asking about Misty and Ulti. He said, I have a concern with Misty and
Ulti. I don't really care about share price, but I do care about distribution per share.
He was talking about how he charted out Ulti's distribution per share since he bought it in July
2025. And he's saying the distribution per share has a declining trend line. But he's saying,
previously, I was told that share price does not affect or
determine distribution share. Two, there's nothing fundamental about the funds that would cause
distribution per share to naturally decline over time. And then what determines distribution per
share is the IV of the underlying, the performance of the underlying, and the quality of the options
trades that are executed.
So overall, he's asking,
is the declining trend line for distribution per share
for both Ulti and Misti due to lower vol in MSTR
and in the sectors that Ulti is picking underlyings from,
or is it something else?
So that's overall just what he's asking about there,
if that makes sense, Michael Ko.
Sure.
So we should, yeah, we should probably take a look at, let's look at Misty first.
I think that because, you know, then we can sort of talk about the concepts and everybody's familiar with what's happening with the underlying stock.
And so it's kind of easy to see July to present because the strategy changed in the
intervening period for that fund. So let's just talk about MISTI first. So for those who don't
know, MISTI is the strategy formerly known as MicroStrategy Options Income ETF. It is the
bullish one. I mentioned that because we also have a bearish one,
which is known as Winter WNTR. So as we look at it, you're right. The performance of the
underlying asset is going to have an important role to play in the performance of a fund that is an options income focused fund that
uses that as the core underlying holding. So if we go, I should probably just say, I mean, I don't
know what we want to use as sort of the start point, but why don't we just use as a start point,
we'll just look at last year. We'll go from don't know just december let's say december uh
31st of 2024 to the present i think that's probably a decent way to think about it and
then i'll go to july because i think did you say he bought misty in july is that did i hear that
correctly uh let me look i think he was talking about June. Where was it? July 2025.
You're right.
You're right.
Yeah.
Okay.
Yeah.
For both Misty and Ulti, I believe.
Okay.
So, and that's actually a very important time because strategy actually hit its intra-2025 highs on July 16th of 2025.
2025 highs on July 16th of 2025. So it's probably useful to think about what one's performance would
be had one bought Misty at its highs for the year and comparing that performance to the underlying
stock over the same period of time. Okay, so let's just take a look at how Misty has done
since the end of 2024.
So all of 2025 until the present day.
So if you had bought Misty on the last trading day of 2024
and just held the shares and taken the distributions,
your total return would be down 10.5 percent or thereabouts
if you had taken those distributions and just continued to take every distribution and reinvest
it into misty um your returns would be down 45.8 percent So pretty tough go of it, fair to say. Now that compares
if you had bought strategy at the exact same time. Now strategy doesn't pay any distributions. So
there's no way you can say, well, if I'd bought it and taken the distributions, what my returns, you just, your returns are whatever the stock's returns are, which is down 52.2%.
So as we look at this and we sort of think about, okay, what's going on?
There's really two things that happened.
One, strategy got annihilated over the period, right?
It lost more than half its value.
So that had an impact.
There was something else that was going on too,
which is that the implied volatility of Bitcoin and strategy
and a lot of other names in sort of the Bitcoin crypto complex
started to come in.
come in. And so what that meant was that as time progressed, the percentage of the underlying
And so what that meant was that as time progressed,
price that you were able to harvest in terms of options income was declining, still well above
what it would be for the average stock in the, say, S&P 500, but it was less. So you kind of had
two headwinds there, right? The underlying stock was falling and the options premiums. And that phenomena really started a little bit earlier. And it surprising, I assume, that the volatility of the underlying
asset starts to come in a bit. And as the underlying asset becomes somewhat less volatile,
so too do the options premiums come in a bit. All right. So why don't we advance the clock then to
July 16th of 2025, which as I pointed out was strategies high for the year, strategy since that time
is down almost 70%, 69 spot, 63% to be exact.
If you take a look at Misty, exact same period.
If you had simply taken the distributions in cash, down about 52% if you had reinvested down about 63%.
So outperforming the underlying asset modestly, why is there some outperformance? That's because
you're collecting options premiums. But you'll notice that if the volatility is going down,
then the amount of premium you're collecting week on week, what the traders are targeting is going to be focused on that implied volatility, might not be quite as high.
So you're still getting slightly lower volatility in the fund overall in terms of its total returns than you do in the underlying asset.
But it is a very tough row to hoe, as they say, if you pick a stock and the stock goes down.
Needless to say, if you had taken the opposite side, and some did, most didn't, but some
did, you know, winter, the opposite is true.
What I think is kind of interesting, if you look at winter, from my perspective anyway, if we take a look at the returns from July 16th, which was the high for strategy, through to the present, if you had simply taken the distributions, you're up 81.4%.
If you had simply taken the distributions, you're up 81.4%.
And if you had reinvested it, which essentially is taking your distributions and pressing the short, right?
In the same way that if you take your distributions and buy more of the underlying because you like the underlying thesis,
you're essentially adding to your longs.
Same thing if you're in winter, if you reinvest your distributions, drip them basically, you're pressing your short.
If you've taken the distributions in cash, you're up 81.4.
If you press the short, dripped it effectively, you're up 103.75%.
So, you know, it's both of these things play a role.
play a role. Now, you can then extrapolate that and say, okay, well, then if I'm looking at
something like Ulti, some of the same dynamics apply. That's true to a degree. Why to a degree?
Well, Ulti has slightly different options, strategies that are being employed. So it can, for example, sell credit put spreads,
sell calls, buy downside puts, essentially have collared stock positions, which is
what it commonly does with the idea that you're doing that with a little bit of a tailwind.
So positive carry being the objective. So the dynamics for Alti are going to be similar.
You want the underlying stocks to do well.
You prefer higher implied volatilities, all else equal.
But the strategies are not identical there.
And where you're going to see that is in instances where you have, for example, earnings come out.
And let's say the earnings are extremely disappointing, and so a stock rolls over by 25%.
If you have a covered call spread or buy right on a stock and it falls by 25%, you're going to share a lot of that pain.
If you were collecting 50% annualized, that's 1% a week.
You sell 1% upside premium.
Well, when the stock's down 25% the next week, how much of a consolation is it that you got 1%,
but you still lost 25% in the underlying asset the way somebody who's long the stock was? Not so
much. Ulti, of course, has those downside puts. And by the way, for anybody who's interested in this and wants to know a little bit more about it, all of the positions are shared on the website
overnight every day. So you can see the trades, you can see the positions, you can see how that
would work. So Ulti is a little bit different in that respect. Some of the core elements still
matter. You care about the performance of these underlying
stocks because you own them. You buy the fund, you own those stocks. You care about implied
volatility because you're trying to harvest some of that. But in Alti, which is different than
most of the single stock options income ETFs, you have collared positions generally. So the max risk for any one of those underlying
positions to the downside is not going to be the same. The other thing is that the way the
investment team has structured this now, there is what is referred to as a non-correlated sleeve.
So that's going to include things like some of the precious metals and stuff like that, which can sometimes be correlated with the market generally. But
in the broader run, we would expect to have more of a non-correlated aspect.
There are some special sets names. There are some sort of core fundamental long holdings.
And then on top of that, you're going to see the names that are really trying to
bring in a little extra yield
because they're high implied vol. So there's sort of more moving pieces in there, but it also has
that hedged element, which the options income ETFs, which, you know, I mean, you buy a stock,
usually it doesn't come with a hedge, but in Alti's case, they do.
doesn't come with a hedge, but in Alti's case, they do.
That was a great response, Michael.
That makes sense to me.
And really the overall that I extracted from it is like,
even with things declining a bit, right?
You're still doing better than what the underlying has been doing.
And to me, that's a huge, that's a huge W, right?
So I hope that answered your question in the audience
and feel free to comment
back, Red Pill. Oh, it looks like you did. He said, thanks for asking. I really get, understand
the declining vol. My biggest concern is Ulti because Yieldnex should be finding higher vol
underlyings to harvest vol off of. So it's declining distribution per share is kind of scary.
makes me think the strategy isn't working properly.
Makes me think the strategy isn't working properly. That was his response there.
That was his response there.
I don't know.
Yeah, I think, I mean, I'm pretty,
personally, I'm pretty happy with the way Alti is performing
because, you know, the way I look at it,
if you're going to buy a basket of stocks
and large cap stocks or mega cap stocks,
Alti, that's what we're looking at.
You want to look at that portfolio of stocks
and say, okay, it's not the same thing as the S&P 500, obviously. In fact, actually, Big E,
the target 12, is going to have a much closer correlation to it. But still, the thing you're
going to care about is what do my total returns look like relative to the S&P. Now, if you only invest in high beta names and the market is lower,
what do you expect that underlying portfolio of equities to do? It's going to be lower by a
greater amount generally, right? So if I have an average beta of two in my stocks, if I'm all in high duration
equity, and the market starts getting choppy, in fact, you know, and this is important because
one of the things we have seen is significant rotation. Take a look at the sectors that have
outperformed this year. And in many cases, you're going to see, you know, what has done well,
things like healthcare, utilities have held up quite well, staples have held up quite well.
And you take a look at things like software and services, which are going to be a higher beta,
higher volatility basket. And how have they done? Well, they, I mean, up until about two weeks ago,
miserably. As a proxy for that, take a look at something like IGV. Compare IGV, which is the
software and services ETF to XLK, which is the technology ETF more broadly. So we can use those
as proxies for an industry and for a sector and compare them. And what you're going to see is, you know,
horrifying underperformance. From the end of 2025 until two weeks ago, just over,
IGV had underperformed XLK by 23%. So you're talking about seven, eight weeks underperforming by 23%.
And what's in there?
Higher beta stuff, right?
So if I'm going to have a portfolio that's going to be, we'll call it 60% higher volatility
stocks, and we start seeing the kinds of things that we've been seeing, severe rotation,
all of this angst about the impact of AI on certain industries and sub-industry groups,
geopolitical, whatever you want to call what's going on in the Middle East right now,
but I think we can call it some serious geopolitical risk.
In an environment like that, what are you going to start seeing underperform?
It's going to be high duration.
It's going to be high beta.
In fact, that's exactly what happened when crypto started
to roll over after the first week of October. If you take a look at the performance of the entire
universe of mega cap stocks from the first week of October through the end of last year,
take a look at what underperformed. It wasn't all related to crypto. It was high beta, right?
it to crypto, it was high beta, right? So to me, if I see Alti's portfolio outperforming
the S&P on a total return basis, outperforming the Qs on a total return basis, with that as a
backdrop from the first week of December through today, I'm feeling pretty good. Because that's
what's going on. And I'm not telling anybody who's listening right now, something they don't know already.
Um, because if you've been out there picking your own stocks, you've, you've experienced
this for sure.
100%.
Love the thoughts there, Michael.
I really appreciate you taking those questions.
Um, let's get over to Ms. Roundhill.
See if you have any thoughts or ideas on the conversation so far. I'm curious
what you're looking at here and just what's been going through your mind with all this volatility
and geopolitical tensions rising. I'm curious what you're looking at, Ms. Roundhill.
So I've been really focused on getting my portfolio to be more stable because I'm finally at the point where I can get a stable amount for living off of it.
So I'm really happy that DDD is coming out.
Is DDD going to be a weekly pair and is it going to be in its own payday family?
Payday family?
Ah, so, yeah.
So Quad D is going to be the first in its sort of, its group, I guess.
I think I made that statement initially that, you know,
we hope to have a whole family of double distribution ETFs.
So this one is not going to have the same cadence in terms of the distributions that most yield max funds do.
Some sort of significant reasons for this, and it'll probably make some sense as you think about what the objective here is.
sense as you think about what the objective here is. As you look at SCHD, which is sort of the
underpinning strategy on which the options overlay is being applied, that distribution,
I should actually just look this up. I'll see what the yield of this is right now.
That's around 3%. Yeah, so we're looking to double that amount.
It's 3.6.
So if you're going to double the distribution rate, that's going to get you to call it 7.5,
something like that.
So the distribution cadence is going to be quarterly in this case.
quarterly in this case. And if you're wondering why that's the case, this is intended to have,
you know, and to track much more closely with the performance of the underlying securities.
And, you know, that's going to essentially permit that, right? So, you know, our hope is that you're not really going to be giving off material upside with these more modest distributions.
So you sort of get because I think it's pretty tough, probably for a lot of people to live off a, you know, 3.6 percent annualized yield.
But hopefully something that gets you into the 7-8%
becomes a little bit more realistic.
Yes, I was excited about that.
And then, I mean, you still have to take away the expense ratio
because the expense ratio for SCHD is much less
than what YieldMax is going to do.
Do you know if the Quad D, like, is this already on YieldMax's website
and I can get the prospectus
so I can look into it more?
It will be up tomorrow.
Yeah, it'll be.
So it's not up on the website yet.
It will be up tomorrow.
So, you know, everyone will have an opportunity
to take a look at that.
Um, but yeah, and I encourage everybody to take a look at it.
I encourage everybody to take a look at SCHD first.
Um, you know, so you can get a sense of, of what the underpinning holdings are going to,
going to look like.
Um, and then, you know, you can take a look at the, at the yield the yield and essentially add to that.
That's our objective.
You and I have spoken in the past about how there are different funds, I guess, for different investment objectives.
But I think I have a sense of what your objective is,
and it's probably very closely aligned with mine,
which is that my thinking is you should be able to create a core portfolio of holdings
that you can add to steadily, that you can live off the distributions,
and that you can hope that the underpinning securities are going to keep pace,
You can hope that the underpinning securities are going to keep pace, at the very least, with something like inflation.
And in those cases where people are investing with a longer time horizon, also get capital appreciation so you can find a balance.
And, you know, from looking across the spectrum of yield max funds, there are some that are just trying to maximize the distributions in the short term.
And then there are others that are trying to get more capital appreciation, depending on the investor's objectives.
Big E, I think, is a pretty good example of this.
Last year, I think the share price was about 4.5%.
I mean, I could look it up exactly, but I think it was up 4.5%
for the year, and all the rest of it came out in the form of distributions.
And the total returns were just shy of 18% for the year. And for SCHD, and also look, I mean,
you can see what the underpinning stocks are in SCHD. These are going to be much lower volatility stocks in general.
And because of that, the amount of premium that you're going to get in something like a Pepsi
or a Coke, Altria, I mean, these are not super high volatility stocks generally.
volatility stocks generally.
But, you know, and people invest in them for the dividends.
But 3.6% is, you know, maybe not quite the distributions that some people require.
So, you know, this was the target audience for Quad D.
Yeah, I appreciate that.
I was also interested in that conversation about the mix of
Ulti and WiMAX and why would we invest in one over the other? And then I just think,
personally, I like the new mix that's in Ulti with just more diversification. And I would rather get a 50% yield over a 70% yield
when the NAV is more stable.
And so the distribution rate's not fixed in Ulti.
So you would have the price of the NAV go down,
but the implied volatility go up.
So your distribution per share goes,
like it stays the same,
but that's not healthy over time.
So if we can get some, you know,
nav appreciation and a stable amount with Ulti,
that that's the most I can hope for with Ulti. And then YMAX,
I really just love the diversification, you know, have the REITs in there.
And, you know, I'm going to blank on everything, but like,
I was a little surprised that you did in fact, get rid of a lot of the single stock tickers.
I thought they were just going to be way less of a percentage in there, but I understand why we're doing that.
Yeah, I mean, so Ulti, this is kind of an important element, is that YMAX is going to be constituents of YieldMAX funds.
It is going to be YieldMAX funds that are exhibiting positive momentum, and the weights of those are going to be allowed to float.
ULTI, we are picking stocks.
They're not turning over that quickly.
they don't turn over that quickly, as probably many people have observed, is because the reason
that the investment committee will be adding stocks, you know, the underpinning drivers of
that don't necessarily change so quickly. You know, those are going to be both the fundamental
factors, the technical factors can shift. But the fundamental factors are going to remain
relatively intact. I don't know whether anybody's been paying much attention, by the way, to what's in SALTI,
because you have like RH, formerly Restoration Hardware, and a couple others in there that have, you know,
sort of been getting punched in the nose a little bit lately.
But, you know, the thing about ALTI is that, you know, each and every day,
the investment team is evaluating the constituents of it.
So that's more, think about Ulti as not just about the distribution rates, but there is an
active stock picking component, whereas Wimax is the whole of its investment universe possibilities exist within Yieldmax funds, and it's going to be choosing the ones that have positive momentum.
So it went from an equal weight to more of a momentum driven.
But that's a different subset of constituents that can go into WIMMAX. So like I said before, and you're doing exactly the right thing, which is, you know,
look at the constituents that are in the funds and, you know, say, is this in alignment with my own
investment view? And if it is, then that's probably going to be a better fit.
that's probably going to be a better fit.
Yeah, and now that WiMAX has
ulti in it, and you can have things
that are not in the YieldMax family,
it also helps
with the diversification within
WiMAX.
I find that the amount of ulti
that's in
Like the amount of ulti that's in Wimax is enough ulti for me, ultimately.
WiMAX is enough ulti for me,
ultimately.
Really quickly.
Yeah.
Oh, thanks.
Thanks.
No, great points, Ms. Roundhill.
And, you know, that's what I was thinking too, is along those lines,
like Wimax could be a bigger holding for me for those reasons.
But the reason why I still stay
with Ulti at this moment as my highest, even though it's as my highest weighting, even though
it's high volatility is because it's really hard to get exposure to the Russell in a way that,
that, you know, has a good dividend yield, but it's also not just the russell it's like it
just so happens to be like hyper growth with ulti but the it has metals and mining like for the
major things that we need it has like mag 10 metals and mining which are a big part of the russell
it has a lot of hyper growth names or high volatility names that that you you it's hard to
find some of these plays like if you look at you know um
l i t e and some of these other plays that they had in their uh top 10 holdings it's hard to find
them elsewhere you know yield y max won't do that you know like y max can only keep it the y max
funds within as from what i understand so ulti it really achieves just a a certain goal for me which is like exposure to
to you know major asset classes metals and gold and crypto you know those two you know metals and
then crypto and then hyper growth and then mag 10 and mag 10 basically anchors all the indexes which
is why i you know mag 7 names which is why i anchor you know my portfolio with ulty because they have those
components and then but most importantly the yield uh because i use margin because life is so hard to
get ahead with and you have to use i mean in my opinion you have to use some sort of debt to get
ahead all the grades did i use some margin but then the ulti pays it back the ulti dividends
paid down so fast and rocC, the return of capital,
making it advantageous for tax treatment.
Ultimately, I've kept ulti there, but it's really a tough decision for me,
Ms. Roundhill, to pick the WiMAX versus ulti.
Again, it's kind of a good problem to have.
You see the way wymax
is performing today um it it you know it's like the market was down a little bit but it was down
with the market and a lot of times ulti has been our saving grace throughout this you know this
down market you know to start the year ulti you know has been up seven to eight percent which is
why i don't understand the nav erosion you, you know, concerns like from Red Pill, for example.
And especially like if you buy at the highs, like, you know, like he was stating,
you know, you're going to have issues when you buy anything at the highs and then look at it now at the lows.
So ultimately, you know, if you buy low and sell high, you're going to do well with any fund.
But with Ulti, it's been saving us actually despite the nav erosion on the chart the quote
quote erosion which i don't really believe once you factor back in dividends it's been saving us
because russell you know russell and small caps have been up seven to ten percent this year mid
caps have been up you know huge this year and it was our saving grace away from tech so it's really
tough to decide you know which gets the number one or two spot i still have to decide, you know, which gets the number one or two spot. I still have to, I guess, you know, keep watching the price action closely, Miss Roundhill.
But I'm kind of right there with you.
You know, I see the changes with Wimax.
I love those.
You know, it's really tempting.
But I just need a few more days to weigh it, you know.
And hopefully we can come back on together and talk about it next week, too.
Yeah, it's also one of those things right now that Wimax has ulti in it.
You have to be careful that you're not overweighting yourself in ulti.
But I do think that if we do have like a tech run that people that are in YMAX and ulti
will ultimately, you know, be happy that they're in it now that you've made the changes that you needed during the, this
pullback from the last six, seven weeks that like basically from December. And now we're
in a position that when there is a run, I think everyone that's in these funds and have
kept with you will be happier.
I agree a hundred percent Ms. Rano, by the way, you know, like the performance recently
was amazing with,
with Ulti and Wimax, quite frankly, and I'm not trying to be emotional about it. It's just when
I look at these comeback days in the market, I look at what bounces the hardest and that'll be
like the next video that I'm doing on, on, um, you know, this weekend, the top five bouncers,
you know, dividend names that bounce back the hardest. Ulti has to be in that conversation you know and now ymax too uh may i
add ymax too without the downside volatility you know that ymax formerly had and that some high
yield dividend funds have you know so you know that's why i'm excited about the two
i'd add really quickly um with respect to to wanting exposure, whether it's to something a little bit narrower like crypto or mining.
We do have Mining now.
So this is a relatively recent addition to the family of funds that YieldMax has for people who are looking for exposure to that.
Obviously, we have it in Ulti. And I'm assuming when you're talking about the Russell, you're actually talking
about the Russell 2000, not the Russell 1000. Right, the Russell 2000. Yeah. So yeah, when you
think about that, those types of names, those are the kinds of things that will show up in Ulti. And
there's kind of a functional reason for that.
It's difficult to create a single stock options income ETF on a Russell 2000 stock,
just simply because the liquidity, either in the underlying stock, in the options,
something like that can be a little bit more challenging for something that,
they can grow quite a lot in size.
I mean, if you look at a fund like NVIDIA, you couldn't really do that very easily in a Russell 2000 stock typically because it would be difficult to allocate a billion and a half to a stock that might have a market capitalization of $5 billion, right? So those are the kinds of names that you will see added to Alti if and when and where the investment team thinks it's appropriate to do so.
And that's, you know, it's going to be in a fund, not in a single stock strategy, typically,
because the single stock strategies have a higher barrier or bar to entry
in terms of liquidity in both the underlying stock and in the options for it right uh michael like
again kudos to you with how you've been able to form ulty and get that kind of performance like
the russell 2000 i was in smhb a long time ago, SMHB, SMHD,
if you remember those, like those ETNs that, you know, they can blow up in a down market.
And the way that they, you know, tried to track small caps and things like that,
it was kind of disastrous in my opinion. I mean, maybe the total returns would show otherwise,
but when you're using that, they're using some leverage with it to get, you know, some of the juiced yield. And it just, it did not work well, you know, if you're,
you know, a long-term investor, you know, and, but the way Ulti works, it's,
it's perfect for our needs at least. So thanks again for that.
Yeah. SMHB. Yeah. I mean, this is one of the reasons why I think when it comes to leverage, I'm not opposed
to it. I want to make that clear. I'm never here to cast aspersions on anybody's strategy or their
use of leverage if and when and where they want to. But I think that is definitely something
that, you know, if it can be, it should be, it should be left to
investors themselves to deploy it. And I think some of those levered products, they've illustrated
what the hazards of that can be. Because if you do get hit, it can be very difficult to
climb back out of the hole that one's dug for oneself.
Right.
Absolutely.
Yeah.
If you look at the total returns of SMHB, they've been flat for so many years, but Ulti trends upward left to right if you factor back in dividends.
And so that's just a testament to what you've done.
Thanks again.
Hey, CryptoFit, you got any thoughts on the conversation so far?
We haven't heard from you.
Yeah, I do, actually.
Today, I'm pulling up the total returns chart.
So, Todd, I appreciate all that in this roundtable.
That was such a good conversation.
And honestly, guys, like, you know, Wimax, I mean, it has performed better than Alti,
even right now, when you look at it.
That's just on a total return chart.
And with the changes being made, when you factor in the target 25s, the target 12s, I wasn't quite clear if quad D is going in there or not.
I guess you can answer that in a second.
But, man, it's almost a no-brainer for me.
This is just my opinion, not financial advice, but I'm leaning heavier into Wimax on that
piece.
And then as long as people are listening, make sure you familiarize yourself with the
total returns.com.
I mean, all your questions can be answered.
So the next thing would be, I don't think we have a fair comparison for the Target 25
yet, but you can
look at other companies who would. So if I'm just looking at like an NVII, you know, that's
outperformed NVDY. And do you believe that the Target 25s may lower the distribution in WiMAX, but we should, in theory, see price appreciation somewhat.
So that and Quad D, is that going in WiMAX?
Yeah, so WiMAX is momentum-based, so it would take a little bit of – you need a little bit of operating history
before something like Quad D could be added. I'm assuming unless they're going to try
to do a modeled approach in the future, which is nothing that I've heard discussed. What I mean by
that is if you do like a pro forma, in other words, if we've got a model portfolio running
in the background, we can see performance for strategies even before they become investable products.
But YMAX is taking a momentum-based approach.
By the way, to your point, and I think this is just something that's important for investors in general, momentum matters.
There are a lot of different factors that people can take a look at as
they make investments.
Um, but momentum does matter.
It's the reason that the shifts were made to the YMAX strategy in the first place.
And, you know, it's not anything I think that anybody on this call is that this is new news
to them.
Um, so even if you're going to pick
an investment approach,
there are other exchange-traded products
out there that focus on momentum
that have a long operating history.
And I'm not going to go out
and start mentioning all of those other securities,
but I encourage people to investigate that
and you'll see how much of an impact that can have.
So I encourage people to do that.
And that's definitely something to consider
as you're sort of sorting out
what you're going to include in your own portfolio.
Yeah, I appreciate that.
And it's like, Ms. Roundhill's it's so cool that you know the products
looking for with how michael coey talks about you know biggie and it's like can it keep up with
inflation and can i live off of it and i'm i'm really starting to feel the biggie y max mix now
for ultimately the you know the the pill and uh just red Pill was talking to me earlier in the week
about the declining distribution.
And if we see less of a distribution to Todd's point,
that should be okay though,
and percentage-wise,
because we might see a little bit of increased share.
And with increased share,
the 30%, call it 30 or 40% from WiMAX should creep up.
That's just like a guess with momentum plays.
I don't know.
Yeah.
It's so hard to tell when the market is just total trash and just sideways
is like, well, is it going to appreciate, but I think,
and it's not, it's definitely not Yield Max's fault.
It's just an observation.
But I think that once we hit a good run and we get to
see it, the proof in the pudding, so to speak, that everybody will be much happier with both
Ulti and YMAX. I will offer one thing, which is that given everything that's going on
in the world, and particularly in the Middle East, I would have to say that it feels
to me as if the market's almost holding in fairly well, all things considered.
We're talking about close to 1% of global GDP flows through the straight-of-form moves every day.
of global GDP flows through the straight-of-form moves every day.
And that's a lot for equity and risk assets generally to absorb is a threat to the region.
And so the fact that equities have kind of held in here even a little bit through all of that.
Over the weekend and Sunday night, I wasn't so sure as I watched WTI close on $120 a barrel.
Things have calmed down a bit since then.
But with those types of risk factors lingering, I think, in everybody's view, equities are, so far at least, maybe in some ways even doing better than one might expect.
Well, guys, this has been a phenomenal conversation.
Michael Ko, always really appreciate you coming on. And I know some questions can be tough sometimes,
but I appreciate you always just being transparent
and taking any questions that come about.
And shout out to the panel that joins us every week.
Todd, really appreciate you coming on again.
Miss Roundhill, CryptoFit.
And appreciate the questions from the audience as well.
I know we don't have everybody that hops on the stage,
but Red Pill and the audience always asking questions.
We really appreciate you and everybody else.
So big shout out to the Yield Max crew.
Michael, you got any last thoughts for us before we get wrapping up?
The tough questions are the ones that you guys should be asking.
Because if I don't get those questions,
then those questions will just simply linger out there,
fester even, and I'd rather answer them.
So I appreciate all the questions from everybody always
and everybody's time and attention
and you for hosting these things.
And I just hope everybody trades well.
It's like there was an old TV show, I think, I can't remember,
it was in the early 80s called Hill Street Blues.
But, you know, just as the police were all leaving to hit the streets,
they'd say be careful out there.
So be careful out there and trade well, everybody.
Agreed. Yeah, this market can be quite tough right now in this range we're in.
But nice to see that you know
overall the market stays holding up stays getting bought up off these lows but boy does it make for
a tough range for the swing trading and the day trading side of things so definitely stay safe
out there trade safe uh we're gonna wrap up the spaces here what a great day on spaces so far but
um we'll be hopping on the youtube stream in about 30 minutes at 1.30 p.m. I'll be starting that YouTube stream.
So we'll see everybody over there.
Again, big appreciation and shout out to the YieldMax team.
If you guys aren't following Michael Coe, all the speakers that join us in that YieldMax account, make sure you are.
And we'll be back next week, same time, same day, Wednesday at 12 p.m. Eastern.
So we'll see everybody then.
Have a great day.
Have a great day.
