Jacob explains Markov chains—probabilistic processes where future states depend only on the current state, not past history.

Tom and Tony tackle viewer submissions from Germany to California in this high-energy trading session! Watch Tom make a rare zero-day Q calls trade while navigating a tight SPX strangle for 22.65 credit. The action heats up when they face AVGO's "redonkulous" run-up, leading to aggressive naked 300 calls, and tackle Oracle's upcoming earnings with a strategic strangle play.

Witness real money moves on 8 out of 10 hot tickers - executing trades on SPX, IWM, TGT, ORCL, AVGO, MSFT, and CL while passing on illiquid DDOG due to impossibly low 6 IV rank and skipping both FDX and STZ due to dollar-wide bid-ask spreads. From broken wing butterflies to put ratio spreads, this episode showcases rapid-fire options strategies with Tom demanding fills and Tony providing sharp market analysis!

Tom and Tony tackle viewer submissions from Germany to California in this high-energy trading session! Watch Tom make a rare zero-day Q calls trade while navigating a tight SPX strangle for 22.65 credit. The action heats up when they face AVGO's "redonkulous" run-up, leading to aggressive naked 300 calls, and tackle Oracle's upcoming earnings with a strategic strangle play.

Witness real money moves on 8 out of 10 hot tickers - executing trades on SPX, IWM, TGT, ORCL, AVGO, MSFT, and CL while passing on illiquid DDOG due to impossibly low 6 IV rank and skipping both FDX and STZ due to dollar-wide bid-ask spreads. From broken wing butterflies to put ratio spreads, this episode showcases rapid-fire options strategies with Tom demanding fills and Tony providing sharp market analysis!

Hosts Tom and Tony discussed three key elements for small account trading under $25,000: asset selection using cheaper alternatives like sector ETFs or liquid individual stocks instead of expensive indices, position scaling through wider strikes rather than adding contracts, and active risk management by closing at 50% profit or 21 days to expiration. They emphasized that increasing individual position risk with wider iron condors or naked strangles provides better win rates and lower tail risk compared to simply doubling contract quantities, while consistent early management significantly outperforms holding positions to expiration

Hosts Tom and Tony discussed three key elements for small account trading under $25,000: asset selection using cheaper alternatives like sector ETFs or liquid individual stocks instead of expensive indices, position scaling through wider strikes rather than adding contracts, and active risk management by closing at 50% profit or 21 days to expiration. They emphasized that increasing individual position risk with wider iron condors or naked strangles provides better win rates and lower tail risk compared to simply doubling contract quantities, while consistent early management significantly outperforms holding positions to expiration

The market showed minimal movement with S&P, Nasdaq, Russell, and Dow all basically unchanged. Bonds ticked up to 112.29, trading briefly over 113. Bitcoin slid to $105,500, down $1,200. Crowdstrike (CRWD) dropped to $451 following earnings.

In "Confirm and Send," Tom and Tony advised a viewer to close a deep in-the-money covered call rather than wait for expiration, citing "all risk and no reward." For a trader who increased their account from $30K to $100K, they recommended maintaining the same buying power usage percentage while increasing from one to two contracts per position.

Tom and Tony confirmed crypto futures like BTC, MBT, and ETH are marginable (40-50%), as are crypto ETFs and stocks like MSTR and Coinbase, though direct cryptocurrency purchases are not marginable in the U.S.

The market showed minimal movement with S&P, Nasdaq, Russell, and Dow all basically unchanged. Bonds ticked up to 112.29, trading briefly over 113. Bitcoin slid to $105,500, down $1,200. Crowdstrike (CRWD) dropped to $451 following earnings.

In "Confirm and Send," Tom and Tony advised a viewer to close a deep in-the-money covered call rather than wait for expiration, citing "all risk and no reward." For a trader who increased their account from $30K to $100K, they recommended maintaining the same buying power usage percentage while increasing from one to two contracts per position.

Tom and Tony confirmed crypto futures like BTC, MBT, and ETH are marginable (40-50%), as are crypto ETFs and stocks like MSTR and Coinbase, though direct cryptocurrency purchases are not marginable in the U.S.