 What's up navigation traders welcome to this week's video update today's Friday 15th This is our weekly review of our trades for the week that we do every week exclusively for pro Members so before we jump into our alerts I want to recognize this week's winner of who got caught being hot in the community So if I open this up This week's winner shared some great research answered some questions from other traders and asked some great questions, too So this week goes to Charlie wissin aunt Congrats Charlie. You got caught being hot and a lot of good engagement this week If you haven't been in the community or if you haven't been in there in a while make sure you check it out We've got some some members posting some really good stuff Including you know might continues to post his earnings trades every day, which has been really cool to watch Just other people posting great stuff, too So if you haven't been in there a while make sure you check that out It's growing rapidly and becoming a really great resource for our membership So let's jump into the alert starting with Monday the 11th Our first trade was a closing adjusting trade in IYR, which is the real estate ETF We had an we had on an iron condor price breached our upside break even so we closed out the untested side So we're still holding the call vertical side of that You can see prices has moved really significantly at a range now and if we look at a chart of IYR I mean man look at this thing I mean that is just a parabolic move to the upside You know we were joking in the community earlier this week that I don't think the the markets allowed to go down anymore I mean look that is just crazy And so we're just gonna continue to manage as we can the in addition to that Closing that out. We also added another kind of tight iron condor IYR is such a low-price symbol You know 84 bucks that we really need to squeeze in our short strikes To get the credit necessary, but you can see this one price is still hanging out well within our range So we're just gonna continue to manage that as needed on the on the short call vertical piece You know we we do want to get back to a positive theta position So we'll look to potentially either roll or just close this one out But you know man I've just been kind of waiting for a little bit of a retracement Before we did anything and like I said this thing's just been parabolic So give it a little bit more time and we'll manage as we see fit Next trade was a closing adjusting trade in DIA So we had two sets of short call verticals We got down to the point with our one in February with there's only four days to expiration So we went ahead and just closed that one out We could have rolled it, but we didn't need that additional short Delta So we went ahead and just closed that one out and we're still holding our other short call vertical And so if we take a look at that you can see you know the Dow's been strong as well prices moved out of the range here So just holding on to that. I do want to look to add another iron condor Remember this is a short call vertical that was originally from an iron condor Plot volatility is the tiny bit too low I mean if we just get a little bit of a pop higher look for us to add another centered iron condor around the current price in DIA Next trade was a closing adjusting trade in SPY So we kind of a similar situation We had a short call vertical from an iron condor and SPY just four days left in the February cycle So we went ahead and closed that out If we take a look at SPY We've still got two pieces on here So we've got our short call vertical that's left from the piece that we closed out the untested side You can see prices moved a little bit at a range there So just hoping for a little bit of a downside to get back into range and then we've also got another full iron condor Where you can see prices moved up from the center, but still well within range So nothing else to do on that at this point Next trade was a opening adjusting trade in SPY So that was the iron condor that I just showed you so that was the very next trade Then we had a an opening trade in Baidu So this is we like to do pre earnings long straddles or pre earnings long strangles in this in this case We we widened out our strikes a little bit to lessen the amount of capital And the testing showed a little bit better results with widening the strike So look for about a 20% profit here It looked like price was moving up and we were going to be able to knock that out fairly quickly If we just got another up day But price reversed this morning. So if we look at Baidu, it's come right back into center So we're down a little bit on this trade and I'll show you what I was talking about You know, we're this morning. We're up here and you know, it looked like price may continue higher And if we just got up to around this, I just set these lines on the chart If it got up to about there, that would have been a point of potentially exiting for a nice profit But price reversed going against the market Baidu's down Over two and a half percent today while the rest of the market is up around a percent Depending on what index you're looking at So anyway, we're just gonna hold this one. We've got earnings coming up on The 21st February 21st after the market close. So we definitely want to be out of the trade by then So we'll see if we can get a little bit of a move either down or back up To get a little bit of profit before we jump out of that one Next trade closing trade in Netflix So we had a short put vertical on in Netflix booked over 40% of max profit in just five days on that one We originally put this on just to kind of balance our portfolio get a little bit a little bit of long delta in there And we did uh, we it moved up nicely and we were able to book a nice profit in Netflix Speaking of our portfolio balance We've got we're at about three and a half to one On our short delta versus theta ratio Our partly because our theta numbers were getting so small We've been taking trades off making adjustments with which reduces our overall theta a lot of times And so our theta numbers are low and because of the continued up move We continue to acquire a little bit more and more short delta as the market moves up So we went ahead and uh, anyway, we closed that one out booked a nice profit But we're at about three and a half to one. I'd like to stay around between two and three at this point We're not really at any kind of major major market extremes. Although the market has been just Rallying and in fact, let's just take a look at a chart of the s and p To get an idea of what it's been doing since the beginning of the year. I mean look at that I mean just very little pullbacks here and there so Hopefully we can get some two-sided action pretty soon That'll do a couple things for us that'll help our short delta if we just get a little bit of a retracement And it will create some volatility in the market So hopefully get some of these symbols that are hovering in the lower IV range to get a pop in implied volatility Which will give us the opportunity to enter new positions as well. So that would be good all across the board Next trade was a closing trade in snap, which is snapchat Booked over 45 of max profit in just eight days. This was a And that should not be short put vertical We just did naked short puts in there and that was a post earnings short put play So if we take a look at a chart of snap What you'll see here is after earnings they had a good earnings announcement Moved the price moved Beyond the expected move. So what we like to do there is sell puts or put verticals in this case We just we just sold naked puts with the anticipation that price is going to grind sideways to higher Which is what it did it took a little bit of heat after the first day and then popped higher And we went ahead and exited For a nice profit of over 45 percent of max profit on that one. So we're at a snap Next trade closing trade in e-w-w Closed out our short strangle had to make several adjustments on e-w-w and stayed mechanical And booked a really nice profit on that trade Next trade was a rolling adjusting trade in xlv So we got down to the point where we were holding a couple positions still in february This was right on the break even point. So if we would have just got a small move down We would have we could have closed this booked a profit ended up moving a little bit higher So we went ahead and rolled to keep that short delta exposure and Extend duration on that trade So we moved that into march with 30 days to expiration kept the same strikes and picked up a little bit of a credit on that roll So if we look at xlv It's since has gone up pretty decent in amount So it's now out of our range a little bit by just holding this for some of that short delta exposure Hopefully we get back into range and can book a profit on that one Next trade was an opening trade in e-w-w. So we jumped back in implied volatility stayed At a decent level is that iv percentile is at 62 at that time So we're we're in kind of no man's land right now where march had 29 days to expiration So under under that 30 day mark that we like to get in And april had over 60, you know We had we'd like to be within that 30 to 60 in this case. We opted to go with april start building our positions out in april At that point had 63 days to expiration And so if we look at e-w-w you can see still very centered here not much movement Since we put that on just yesterday Next trade was a rolling adjusting trade in ford slash es. So this was our last February position and we went ahead and we held this one all we were already at kind of the max loss on this piece of the trade And with the futures you're not going to get assigned until expiration dates So there's no issue with with holding in the money positions In futures in the es And that's why one of the reasons why we just held on just in case there was a you know a dynamic Move lower We were just kind of holding on to that as a little bit of a lottery ticket But got down to expiration wanted to keep this one on as one of our short delta hedges And so we went ahead and in this case we we went ahead and skipped over march and rolled straight to april with 62 day 63 days to expiration at that point and uh So that's where we're at on that one. So let's take a look And you can see the price after the rolls moved up a little bit, but still within range So again, just holding that for that short delta exposure The next trade was an opening trade. So these are today's trades on friday. We did an iron condor in invidia And um, and we're targeting 30 to 40 percent of max profit there They just announced earnings last night. And so, uh, but we the the implied volatility crush did happen But ivy percentile still hanging out above that 50 level when we put this on And so we went ahead and we were looking for you know, there's a lot of symbols that are starting to get lower and lower implied volatility So we're really searching. Uh, we we prefer to do Sell premium iron condors short strangles. We prefer to do that in etfs or futures first But if there's nothing available and we're looking to enter new positions We'll look at stocks next and we don't like to deal with the earnings announcements and so forth But with invidia just announcing earnings, we're not gonna have to deal with that for another quarter And implied volatility was still a little bit, uh, elevated. It's already gone down to 48 We put this on when it was at 54 And so just holding that hopefully price stabilizes and we could continue to collect some theta on invidia And lastly, we did another opening trade where we sold some more premium in this case in forge slash 6b, which is the british pound And as I mentioned, we did a strangle, but you could also look at iron condors if you wanted to define your risk Which I know a couple of members did so If we look at fxb, which is the corresponding etf To get a good read on the implied volatility. See implied volatility is still nice and high popped up to 76 And so we went ahead and sold some premium in forge slash 6b And so you can see that's that's pretty well right where we put it on And so just waiting for some time to pass in 6b, uh, I mentioned this in the community earlier this week, but um If we take a look, uh They just released the april and may option cycles Uh before when I even though implied volatility was thigh high earlier this week I did not put on a position Because there is the march options with less than 30 days to expiration And then there was june with 112 But they just released these april and may cycles, which is great So we went ahead and jumped into the april cycle with 49 days to expiration And I talked about I've talked about this quite a bit, but keep in mind this is on toss Uh thinkorswim if you are trading on tasty works, they label the expiration months on futures a little bit differently So always pay attention to the days to expiration And I always post those in the alert so that you know which cycle we are dealing with So those are all the alerts. Let's take a look at some of our other positions oils moving up, uh nicely today up over a percent and a half Here's the aggregate of both of our both of our pieces. We've got um You know pretty well centered within the two. Let's separate these and look at them separately Let me reset this so I can check the appropriate boxes So we've got the 53 call 58 put this inverted strangle You can see we're we're well over 50 of max profit And what i'm going to look to do is early next week on one of these I will you know, we've got 28 days to expiration So it's not like we're down to that 21 days to expiration yet of where we like to roll these these strangles But I'm going to roll one of them and kind of spread out our rolls Because the next expiration cycle Which in oil would be the may with 60 now we're under that 60 days to expiration So i'm going to go ahead and roll one of those out from april out to may And so you'll get alert and alert for that early next week The uh So anyway, so they're pretty centered here and we're making making good money back in oil getting back from that massive move that it had late last year and then this one too Still very centered so Just gonna roll one of these we'll probably roll the more narrow one, which is this one the 54 call 56 put Because smaller price moves will really affect That profit line you can see it's a little steeper because these are are more narrow So this is the one we will look to roll and go ahead and lock in That credit roll out to the next expiration cycle I'll look at the strikes early next week, but assuming it's kind of staying centered here We may just leave our strikes the same or we may you know, if it's right around 55 we may just sell a 55 straddle in the next cycle and just continue to get a little bit less inverted Although we're we're pretty close to a straddle right now. So either would be fine We will we'll look at those strikes next week right before we do the trade Uh, yes, I mentioned natty gas is moving up almost a percent today at this point We've got two different pieces on in here Both of them are hanging out near the lower end of the range If we could just get a little bit upside movement in that gas that would be a huge benefit To our trade and overall position You can see I mean that gas has just been a crazy ride Had had that huge move up in october november of last year then reversed and completely fell Price completely fell and then looked like it was going to rally back up to new highs and it completely reversed again. So But you know what? I mean, we've been we've been managing just fine. We're we're managing back and Assuming price will finally stabilize at some point. We'll get back to Get back to profits here within the next couple cycles Again, I mean if we could just get a little bit of a pop higher between 2.7 2.8 That would be perfect And but we'll just manage as needed So we've got the two pieces there both of them are hanging out in the lower end of the range As you can see here, this one's a little bit more in range But again, if we could just get a little bit of a pop higher that'd be a huge benefit to that trade wheat Earlier this week we were we're I actually had an ordering to get to uh to exit this wheat trade Uh never got filled price kind of reversed And came back down. So now we're just in hold and wait I mentioned bydu I mentioned di a eem We've got this short call vertical spread Just holding for a little bit more downside to benefit that piece We would potentially look to add to this if implied volatility Got higher, but you can see it's pretty low. So we're just going to manage this spread as we've got it on now Uh, obviously if it goes lower, we can book profits if it goes higher We'll make the necessary adjustments or trades as we see fit E w w I already mentioned that one. We've got that short strangle E w z We've got this adjusted strangle, which is which is a 42 straddle at this point Um, excuse me Earlier this week when price was a little bit lower Uh, I was thinking we were going to have a chance to potentially book this one and get out with a profit Uh, we're we're pretty close to break even even where it is right now I think we're down just a tiny bit or right out of break even on our trade overall after adjustments Uh, but we'll just continue to keep this one and manage as necessary Um, you can see yesterday when price was right down here I mean we were at a place where obviously in hindsight I wish I would have went ahead and booked that one and then it just made a huge rally Uh at second half of the day and it's moving a little bit higher today Plied volatility is really low. So I was hoping price would just creep a little bit lower and we'd get out of that one But uh, but that's where we're at on that still in good shape IWM The Russell 2000 ETF we've got a couple pieces on here We've got a short call vertical from a previous iron condor Price has moved a little bit out of range here. Just looking for a little downside to get back in And then we've got our other full iron condor where you can see prices hanging out near near the break even If we take a look at the value of the puts you can see we're pretty close Uh, you know, we could have made an adjustment today because most of that value is out But I just want to give it over the weekend see if by chance we could get a little bit of downside movement get back into range Uh in IWM IWM of course with the rest of the market has just been absolutely strong And so if we could just get a little bit of downside that would really help I mentioned IYR Nvidia I mentioned that one Uh qqq We've got uh, we've got an iron. Oh, whoops. That's Nvidia and qqq We've got two short call verticals on here still We've got the 166 171, which is this one where price is a little bit out of range So just holding this for that short delta exposure And then we've got the 172 175 where you can see price is within range here So just holding both of these for that short delta. Hopefully we can get a little bit of downside movement That would help those as well SMH we've got two different pieces on here We've got our one with two contracts and that is our adjusted strangle here We can see price has moved out of range and it's just been kind of hanging out here We hadn't made an adjustment because there was still a decent amount of premium left in the puts That's getting to a point where we're we're needing to potentially adjust but same thing I'm just kind of holding this over the weekend if price moves much higher We will roll these puts up If we if it moves down then we'll just continue to manage We're still in march here with 28 days to expiration So ideally we'd get a little bit of downside in price Wait till we get down to about 21 days to expiration and then roll out to april on that piece And then we've got our other Short strangle that we put on to add some more credit. This one's got three contracts. You can see price We've got some profit on this one not quite enough to book yet. So just holding on holding onto that piece for now SPY I mentioned that one XL K the healthcare ETF. We've had this one on for some short delta exposure. It's a long put vertical So just looking for some downside to get back into range there XL V I mentioned that one. That was the one that that was real close to being profitable We just went ahead and rolled it to collect a credit extend duration. So just looking for some downside on that one And lastly xrt the retail ETF. We've got an adjusted strangle here 41 call 43 put so slightly inverted Still a decent amount left in those puts so not quite ready to make an adjustment yet But hopefully we get a little bit downside movement there Now let's take a look at the implied volatility Yeah, I mean it's close if if we get a little bit of a pop up in implied volatility I would look to potentially add On to this trade by entering a new centered strangle And I would do that now in the april cycle where we're under 60 days To expiration So those are all the alerts. Those are all the positions. Everybody have a great weekend. We'll talk to you next week