 What's up, Navigation Traders. Sorry for the delay in getting this week's video update out. Just had a lot of things going on and so I'm actually recording this on Saturday. Well, let's jump into the alerts for the week. Starting with Monday the 21st. So the first trade we did was a closing adjusting trade in IWM and we closed out the put vertical side because the price breached our upside break even. So we closed out the untested side. So if we take a look at IWM, you can see it's had a nice little run to the upside which caused that breach of our upside break even. We actually put on another iron condor here later in the week, so I'll go over that in a second. So, but this is our short call vertical that we still have on. So we just need a little bit of down movement to benefit that piece. And while we're here, I'll just kind of go over the iron condor as well. We put this on as an adjustment to collect more credit and we put this out in July to extend that duration. So still very centered, got a little bit of profit but not enough to take off at this point. Next trade was an EWZ, the Brazilian ETF. IV percentile at that time was at 64. So we sold some premium, put on a short strangle in EWZ. And if we take a look there, you can see it's gone down slightly but still very much in the middle of our range. So we'll continue to watch that one. Next trade was another opening trade and this was a pre-earnings long straddle that we put on in Costco. So Costco announces on 531. So remember with these pre-earnings trades, we want to be out before they announce the earnings announcement, looks for a profit of about 20% or more on this, started to move down for us and then came back up. So we're still fairly centered and we're down a little bit just because of theta decay. But remember when we put this on, one of the reasons is because we saw a very nice contraction in the implied volatility. So when we're buying a straddle, we're looking for an expansion implied volatility and then obviously a decent price move is what really generates significant profits. So we got a decent pop in IV to help offset some of that theta decay but prices just kind of bounced around right in the middle. So we're down on this trade but hopefully we can get a little bit of a pop in price one way or another or a bounce back up in implied volatility to squeak out a profit in this one. We will see what happens there. Next trade was an opening adjusting trade in IWM. So that's the iron condor that I just showed you. Then we have another opening trade in CL which is oil. So I love putting on these trades in oil. You get such a good bang for your buck. You're typically using only a little over $1,000 per contract on a strangle in oil and your credit received is phenomenal. So if we take a look at oil, you can see we did have a huge down day on Friday but if we look on our analyze tab here, we're still well within our range. Just after two days, it's moved all the way down here. So we're showing a loss here but still well within our range. So nothing to do there except for weight. But you can see with the max profit on this trade of $1,500 and it's only costing you a little over $1,000 initially to put this on. So that's when I say this is a great bang for the buck. That's what I'm talking about. So continue to watch oil and see what goes on there and make adjustments if needed or if it bounces back in and collect some theta, we'll book that. We'll just see what happens. Next trade was an opening adjusting trade in wheat. So we open up another iron condor as an adjustment in wheat. And so we can see here still very centered, nothing to do there. And that's in the August cycle. If we take a look at our July trade, we still have an iron condor on there. It's kind of hanging out here up in our upper range but so it could use a little bit of downside movement some more time to pass before we do anything with that one. Next trade was a closing trade in soybean. So this is a trade that we actually had on since last May. So we had this trade on for a year. And this is one of those things where it made a huge move initially. So we were playing catch up, made a couple other big moves throughout our adjustment period. And so we finally just closed this out a year later. And I like doing that from a, I mean, obviously I don't like when it moves against me but I don't mind continuing to stay in the position, adjust and work my way back to profitability, especially in a symbol like soybeans because it's completely uncorrelated to the stock market, uncorrelated to bonds, uncorrelated to gold, that soybean wheat, corn, it's just another asset class. And so I like having that exposure in the portfolio. So continuing to roll and manage those trades ended up paying off. And if we go to the, actually, let me just pull up the spreadsheet. I'm gonna do a whole video on this trade because it's a great learning lesson for those of you who have not had a lot of experience adjusting trades. But this is a spreadsheet that I just used to keep track of this. Keep in mind, if you are trading on Tasty Works, they're gonna come out with a technology that allows you to track your trades through adjustments and everything from beginning to end on the Tasty Works platform. It's not out yet. So this is a very simple version. I like to keep it really simple. If you get start complicating things, I used to have a really super complicated spreadsheet to keep track of things. And it just, it's not worth it. And so what I'm showing you here is basically I put the date. And in this case, we sold an iron condor. We had to do an adjustment on 526. So we bought back that vertical spread. And on 619, we bought back the other vertical spread. And then I show the profit for each of these positions. So as we roll and adjust and take positions off and put positions on, I keep track of that. And you can see we had a big loss at first within the first few portions of the trade of almost $1,000. We started getting some back 168, continue down. Then we lost another 900 because we had a huge move against us. Started battling back again, 240 here, 206 here, 187 here, 260 here, 56 bucks there, 168, 225. And we're varying the contracts. We started with one, we did two, we did three, we did four sometimes. So just kind of working our way back, couple hundred here, 281 here, 243 here. And the last trade that I just mentioned our alert that we closed out on Friday, we booked profit of 431. So I take all these totals that I just went over and just add those up and it's kind of crazy after all the different trades and positions that we rolled and took off and adjusted, we ended up with a profit of exactly $1,000. So great trade. I mean, we're in the trade for a year. So is it worth being in a trade for a year for $1,000? Well, I mean, the fact is it went way against us. So we could have closed that out and taken a $1,000 loss, but I wanted exposure to this symbol anyway. So making those adjustments, staying in it, staying active, end up paying off in the end. And that's what it's all about is extending your duration. We love when we put a trade on and it hits 50% of max profit, we take it off and book a winner within a couple of weeks. Those are awesome. And they happen quite a bit, but when it goes against you, you've got to know how to adjust and reposition and continue to mechanically manage, this one was managed by the book from start to finish, book to profit of $1,000. So anyway, I'm gonna do a complete video on this because I think it's such a powerful concept that you need to understand. And then last trade on Friday was an adjusting trade in ZN, in our note trade. So what happened was our price breached our upside short strike, had very little value. You can see just two ticks left in the puts. So we rolled those and we stayed in the same July cycle. So we just rolled from the 117 put to the 119 put. And by doing that, we collected more credit, stayed in the same cycle because we still had 28 days to expiration. Remember if we got down kind of below, really below 25, I would look to potentially roll that out to the next cycle. But we still have time here. We'll give it another week and then we'll probably roll the entire spread out to August. But I figured I'd give it another seven days and see what happens. So if we look at ZN here, now this is kind of the diagram here. Remember though, it doesn't take into consideration the piece that you took off. So it's showing as if you have a loss but it doesn't take into consideration the profit you booked on that leg that you rolled. So after an adjustment, you've got to be tracking it kind of like I showed you on that spreadsheet just to keep track of where your credits are at that point. And we've done several videos on that as well. So those are all the trades from the week. Let's take a look at some of our other positions. We've got a position on in the Euro. We've got a strangle on here because the price is hanging out down here kind of towards the lower end of the range but still well within the range, nothing to do there. I already mentioned oil, ES, which is the S&P 500. We've got this long put vertical looking for some down movement to benefit that piece. We're holding on to that trade. We've continued to hold on to that trade for that short Delta exposure in our portfolio. And then we've also got an iron condor in the ES, very centered, got some profit there, not quite enough to take off yet. Natty gas, we've got an iron condor on. You can see we've got a tiny bit of profit. Could use a little bit of down movement to benefit that one before we take anything off there. I mentioned ZN. I mentioned wheat. I mentioned, let's see, Apple. So Apple's one that we also put on for that short Delta exposure and it's been really strong, moved outside of our range here. But we've got, in June, we've still got, what I said, we've still got 20 days to expiration. So if it continues to hang out up here or move higher, we'll probably roll this or we may just cut our loss depending on where things are. But needing some downside movement in Apple to benefit that. And then Amazon, this is one we put on as a post earnings, short put vertical right after they announced earnings, went slightly against us for a day. So we rolled it and then we rolled it again, booked some profit. So we're pretty close to being profitable on this trade. Just could use a little bit more upside in the stock to benefit that. Costco, I went over to that one. DIA, so this is a couple of short call verticals that were previously iron condors. So just looking for a little bit of down movement here. We've continued to roll these to continue to keep that short delta in our portfolio. So we'll keep watching that. EWW, so we've got a couple of positions on here. One is in June and this is an adjusted strangle. So just looking for a little bit more time to pass, maybe a little bit of upside movement to benefit that. We've got, you know, next week we'll be rolling this out from June to July. Once we get under that 21 days to expiration, which now we're at 20, we start looking for, we start looking to roll this to next because the gamma, the risk starts to accelerate in the last few weeks. And we just don't like to hold naked positions that close to expiration for assignment reasons and other things as well that we teach in our courses. And then we've also got, I added another one last week, another strangle here just to add some more credit and extend that duration out into July. You can see that's very centered up about 60 bucks. Nothing to take off yet, except for just weight. EWZ, I think I mentioned that one. IWM I mentioned McDonald's. So we put on this long put vertical just to add balance our portfolio, add back in some long delta. You can see it's right in our range here. Could use some up movement to benefit it, but still got 20 days there. So just waiting, playing the weight and see game on that one. QQQ, we've got a few different positions on here, all of which are now short call verticals from previous iron condors as the NASDAQ has been the strongest of the group. So need some downside movement to benefit that. And then we've got these other short call verticals here. I'm just gonna click on all of them. This is actually two different sets, but you can see we are in range. Still just looking for a little bit more down movement before we roll or close those. XLK, another short bias position in our portfolio. Just need a little bit of down movement to get back in range there. And then XRT, the retail ETF. We've got some profit, just waiting for a little bit more before we take that one off. So those are all the positions. I like where we're sitting here. We've got a great diversified group of symbols from the Euro to oil to the S&Ps to Nat Gas, 10 year notes, wheat, individual stocks, Dow, some of the emerging market ETFs, IWM, the Qs, so technology and retail. So good mix of not only strategies, but also symbols and time frames, which is exactly the name of the game, which we like to do. Diversify your symbols, diversify your strategies, diversify the amount of time to expiration. We're covering all those, so we're in good shape. Hopefully we can get a little bit of down movement in the market that always creates opportunity with more implied volatility, as well as our portfolio is currently fairly short biased, so that would help there as well. But that's all I got for this week. Everybody have a great weekend, and we'll talk to you next week.