 Hey, everyone. Welcome to this week's video update. Today's Friday, February 24th. Hope everybody had an excellent week of trading. A couple quick announcements. One, just five days left on our pre-launch for the new course, Trading Butterfly Spreads for Income. If you haven't already gotten that, make sure you go check that out. Got a ton of awesome feedback from our students. Everybody's loving it. It's a great strategy to have in your toolbox, so make sure you check that out. After March 1st, it's going to go up to the normal price, so make sure you get that now for just 49 bucks. Navigationtrading.com forward slash butterfly course to check that out. Second announcement, if you were not on our live stream yesterday, Facebook and YouTube have created this live streaming platform that's really cool. We're going to start doing more on that. Starting with, every Monday morning when the market opens, we are going to do some live trading. We're basically going to do a live trade of the week. You're going to see me go over my thoughts on the market on different symbols. You'll watch me place an actual trade that we'll call the trade of the week. Make sure you put that on your calendar. Every Monday morning at 8.30 central time, go to our Facebook page. Make sure you connect with us on Facebook so that you can see that coming. Or just go to our Facebook page at facebook.com forward slash navigation trading or youtube.com forward slash navigation trading. You can watch it live on either those platforms. Really excited about that. I think that's going to provide a lot of cool value and it's all free. So hopefully you enjoy that. Please leave comments, likes or anything in the comments section to help let us know what you think. Also, if you have any topics or specific strategies or things that you want me to cover on those live sessions, let me know. You can email us or just post comments there on facebook and youtube during the event. So look forward to that. All right, let's jump into the trade alert. So remember, President's Day was Monday, so market was closed. First trade was on Tuesday, February 21st and it was an adjusting trade in natural gas. For those of you that were in natural gas, you saw we had it and I think it ended up around 10% down in one day. Huge move in natural gas. Anytime that happens, you're typically going to have to make some adjustments. But just stay calm, stay mechanical, just make the adjustments and keep your position size small, not a big deal. So let's go to the platform and take a look at this one first. So essentially, we just rolled down our calls on our natural gas strangle. So this is one that had already been adjusted once, so now we are actually inverted. So we've got the 3.2 put and the, that's this one here, which is the 2.9 call. So remember, the calls are usually above the puts on a typical strangle, but we've had such a big move down in natty gas. See this is that, this is that day here, huge move. It's since come back and helped out our position. So nothing to do at this point. So we've got this inverted strangle, still got 32 days left. So I mean, that's a ton of time. We could have it bounce back and kind of get out of that trade for a break even, or if we need to adjust again and roll to the next expiration cycle, collect more credit, give ourselves more time to be right. We can do that as well. So that's the strangle. We'll come back to the other nat gas positions here in just a second. So the next one was an adjusting trade in our nat gas iron condor. So we had an iron condor on, big move down, and so essentially what we did was we just closed out the call side. We do that, you know, when it moves down past our break even, typically we're going to close out the untested side, which in this case was the call side, we're going to close that side out for max profit. And there's the bell, markets closed. So let's take a look at that. So that's this one here. So we took off the call side. Now price is down here. So we're just waiting for a little bit of a pullback. If we get some more up here, we'll get out of that trade for a break even or potentially a winner still. Obviously if it goes down, you know, we have with our risk is, risk is to the downside. So if natural gas keeps moving now, we're going to have some risk there. So to help offset that loss, I got some questions on this. We're like, man, I just, I still don't quite understand, you know, you're leaving on the losing side, we could take a max loss and yeah, you could. And that's why you need to be comfortable with the amount of risk when you put the trade on it at order entry. Okay, you've got to stay small enough so that you're not stressing out about this when you put on a defined risk trade. You need to have the mindset that if I take a total loss on this, it's going to be okay in regards to my overall account size. And if it's not okay, that means you're trading too big. And these futures are, you know, they're a bigger product. So, you know, you may, you know, just do one contract or if it's feel it's too big, too much risk, you know, don't don't do it at all. You don't have to do every single trade. There's always going to be opportunity every single day the market opens. But in this case, you know, natural gas is down here looking for a move up. But to help offset that, simultaneously after we took off the call side, we added another iron condor. So you can see this one is still very centered. And so we'll just continue to wait. So we, you know, we could, we can end up being a winner on all these if we get a little bit of a move up in natural gas. Or if we're a loser on the other one, we'll win in this one maybe and help offset that. So we're collecting more credit, giving ourselves more time to be right. And that's the name of the game. Just just stay mechanical and keep making the necessary adjustments and trades. Let's see. Next pay next trade was the one I just mentioned. We sold that new iron condor in that gas. EWW, we had a an adjusting trade. So I sent this adjusting trade out in two separate alerts. And so essentially we rolled EWW has been moving up. So we rolled our puts up to the 45 strike and we were in March. So we moved, we moved them out to the April only 23 days to left, left to expiration at that point. There's under 60 days in the next cycle. So instead of doing it, you know, keeping these in the March cycle and then, you know, waiting a few days and then rolling them out to the next one, it just, you know, save on commission made sense to just roll not only up, but out to the next cycle. And then the second part of that adjustment, go ahead and get to that before I go to the platform. Second part was we went ahead and rolled the calls also to April. That way we have our puts and calls both in April. So now we're holding the April strangle and it's the 45-47. So if we take a look at that, go to EWW. Now we've got this here. Price is well centered. We've got a nice profit potential there to get back, you know, some of the downside that we've incurred in EWW because it, you know, made a pretty massive move up over that period. So looking for a little bit of a pullback contraction in IV and then we'll bank that profit. Or if we need to adjust, obviously we'll do that too. Next trade was an opening trade in the Qs. So take a look at QQQ and look at it. This mark has just been parabolic to the upside, which causes implied volatility to be extremely low. So we put on a calendar trade already up a little bit in that one, not enough profit to take off. So we'll continue to monitor that one. We bought back a strangle, closed out a strangle in TLT for a nice profit made over 45% of max profit there. Current IV dropped down to 22. So in TLT we took off our strangle and then we still have our calendar spread on, which at that point was just the 119 calendar. Price continued to move up so outside of our break even. So first adjustment for calendar spreads is to add another one in the direction of the move. So we added the 123. So now we've got this double calendar, got a nice wide range for price to move around in. So we'll continue to to monitor that one. I had another opening trade sold a strangle in XRT. IV got up to 56 at that point, actually got even higher. So hopefully if you didn't catch this right away, you might have gotten in for more premium at an even better price. We entered in the April cycle with 58 days to expiration. So if we take a look at XRT, still still right in the middle of our range here, nothing to do there. But if you look at XRT, I mean, I got in this when IV percentile was at like 56. And then it spiked spiked a lot higher with this down move that we saw here. And I think that was just in the anticipation of some retail number, retail sales numbers coming out. This is the retail S&P retail ETF. And then as soon as those numbers came out, price moved up a little bit and implied volatility got crushed down from basically 100. So if you got in a little bit later than me, hopefully you got in when IV was a little bit higher, got even a little bit more a better pricing than me. So we'll continue to monitor XRT. And then let's see, we did a closing adjusting trade in DIA. So essentially, we had to make a second adjustment on our DIA calendar. So let's take a look there. So essentially, all we did was rolled our calendar. So real quick here, let me see, remember what the strike was. So yeah, so we closed out our 200 and we rolled it up to the 210 because price has just continued to move up. So we went ahead and rolled that calendar up. So if we go back here, so we had the 200, which would have been a calendar right here. And then we had the 205. So we had this double calendar on. Price has just continued to have crazy move to the upside, obviously, just like all the other indices. So essentially, we just take off our 200 and we rolled that up to the 210. So now we hold the 205, 210 calendar, got a nice range to get back, took a little bit of a loss on the one we got out of here at the 200. And so now we'll try to make that back with our adjustments. We've still got in March, still got 21 days left. So good amount of time to get some of that back. Next trade was in opening trade. We did a sold and iron condor in FXC. Ivy percentile got right at that, right to that 50 level, went into the April cycle on this one. So that that trade is still fairly centered, nothing to do here except for weight. So we'll continue to monitor FXC. As you can see, you know, Ivy percentile did get up to 50, but it already went down to 37. So we need a little bit of a time decay in there to go by and hopefully take that one off for a nice profit, assuming it stays in a nice range for us. Next trade was in corn. So we had a closing adjusting trade in corn. So the price of corn moved down past our break-even point. So we took off the call side. We closed out the call side for max profit, still holding on to the put side. And then we added another iron condor, a centered iron condor there in corn. And we did that in the next cycle. So gave us more duration, collected more credit. So let's take a look at what that looks like. So and remember, you can't use the Ivy indicator on the grains. So you've just got to kind of monitor. There's some decent premium because we've had this move up in corn, some decent premium in the options there. So it's just kind of a manual process. But if we take a look at corn, so we've got our put side. So it's still in the range there. You know, just need a little bit more of a move up and then we'll take off that whole iron condor position for a profit. Then simultaneously put on another iron condor in the May cycle, collect more credit. Got a max profit on this one of 468. So hopefully corn will kind of stay in that range and give us some more profit in that one. Let's see. Well, last trade was today and that was a, we added an adjusting trade in TLT. So we had a 119 calendar and we added the 123. So let's go to TLT and take a look at that. So we had the, we had the 119. I'm going to reset these so I can uncheck my boxes. So we had the 119. Price moved up today past our break even. So we just added another calendar here. And so now we've got a much wider range and we'll wait to get some of that profit back. So take a look at TLT. Also had a little bit of a spike in IV today. Not enough to sell any premium, but you know implied volatility is so low and so many things that we're really just kind of putting on some more, you know, calendars and start potentially doing some directional trades. I saw a couple of things that I liked today, but I'll wait till next week and potentially look at some, you know, taking some contrarian moves on some, some things that have taken massive price extremes like XLV, for example, you know, this is the healthcare and it's just had a huge run up, you know, just looking for, you know, potentially a pullback. So maybe buy a put debit spread there. We'll look at some of those other things next week too. So let's see if there's any other positions that I hadn't mentioned. Wheat, still, still got an iron condor in that. We've got a nice profit, but we'll wait for a little bit more before we take that off. Apple has continued its, let's see, we've just got this on. So it's continued, it's moved higher. So we're down on this trade here, but still, you know, the main reason I put this on was to add some short delta to our portfolio. So it's doing its purpose. Obviously, we'd love to have it down, a down move in a lot of things would be beneficial, not only from our positions, but also implied volatility increasing. You know, again, just huge, huge move after earnings here. Hopefully we'll get a little pullback. We still have a ton of time on this stuff, 21 days. So don't, don't get scared out here. You know, I mean, there's a chance we could take a full loss on this, but again, stay small and we've still got time left. So don't let, let the probabilities play out. Don't, don't jump the gun. Don't get scared. Just keep, keep the trades on. EWW already mentioned that one and that makes, I mentioned all of them. So that's it for this week. Have a great weekend, everybody. If you have any other questions, let me know. Look forward to talking to you next week.