 What's up navigation traders welcome to this week's video update today's Friday June 21st This is your exclusive video for pro members to go over all the alerts and positions For the week before we jump into the trades. Let's take a look at who got caught being hot this week in the community This week we had a member who's been with us for several months We started doing some posting sharing trade ideas and and one one thing that kind of caught my eye was he He posted a question about some directional strategies that he's been testing and kind of trading and You know at the core of our portfolio where we're net option sellers We like to a lot of times start our positions Delta neutral But by no means does that mean we don't do some directional trading as well Both from just a speculative directional assumption to also adding different directional bias in our portfolio So like I said here, there are a lot of ways to skin the cat Actually, that's kind of a weird term, right? I don't even know what skin the cat means But maybe back in the day they they actually skin the cats and anyway But anyway, that's the that's the power of this community, you know, it's all about sharing different ideas different perspectives different strategies sharing with the community that is the definition of trade hacking and what we are doing here, so I Just wanted to say congrats to Scott Griffith Congrats Scott. You got caught being hot keep up the good work and continue sharing ideas. That's what it's all about I think Scott was kind of worried that, you know, because of a specific methodology that we trade he wasn't sure if it was kind of allowed to post, you know different straight trade ideas in the community, but absolutely that's what this is all about everybody keep up the good work loving the engagement in the community and For for being hot this week Scott. I sent you a private message, but you get to pick up some Trade hacker swag. We've got some t-shirts and mugs. We're gonna be or adding some additional cool swag in there before long But let's go to the alerts for the week Starting with Monday the 17th. We had our first trade was a closing trade in E. W. W. Had a short strangle on an E. W. W. Booked over 40% of max profit on that trade nice contraction in implied volatility Gave us a chance to book that winner E. W. W. The implied volatility now is a bit low to be putting on new positions So you can see we've got you know IV percentiles at 10 IV rank at 7 So had that nice contraction implied volatility gave us a chance to book that winner But not looking to re-enter an E. W. W. At this time Next trade closing adjusting trade in Z. W. Wheat we close our short call vertical and wheat in the July cycle had just three days to expiration It was deep in the money So we took a loss on that piece of the trade overall We're still down on wheat just battling back just continue to add positions take them off add positions Take them back take them off till we get to a profitable point and we've been doing this for gosh quite A while now and wheat but that's just kind of the name of the game We always want to have exposure in one of the grains corn wheat soybeans So you know just have continuing to have that exposure in wheat is kind of what we're doing there And let's take a look at what we've got going so we closed out that remaining call vertical in the July Cycle we've still got this one in August and remember when I say August I'm going off of what toss calls August Tasty works actually calls this one July, but the one with 35 days to expiration That's where we've got a position and you can see we've got some profit there Not not enough to take off and so we're just going to continue to wait on wheat Next trade closing trade in Netflix, so we're getting a little bit short in our portfolio So we wanted to add a little bit of long Delta in there and actually we weren't necessarily getting too short But you know based on kind of what the market was doing it looked As anticipated like it was going to continue higher. So I wanted I didn't want to be too short So just added in a directional Long bias trade and this kind of goes back to what I was saying We don't we don't shy away from directional strategies, especially as long as we stay within our range of A balanced portfolio in our mind a balanced portfolio is having kind of between one to one and five to one So this is what i'm talking about as far as directional trades This is purely a directional trade had some probabilities on its side But you know to me in our mind as long as you have a balanced portfolio You're not super super long or super super short Because you never know which direction things are going to go So having a balanced portfolio and when we say balanced portfolio We like to have between one to one and five to one of short Delta Versus our theta and that short Delta is beta weighted to sp y So beta weighted to the s and p 500 And as long as you are conscious about your Overall directional bias and you have a kind of a set standard of what that range should be as far as your bias one directional or another There's absolutely nothing wrong with taking some directional shots in this case We did this in netflix it looked like it had a good setup to Have a little bit of a balance to the upside and we were only in this trade for four days booked over 35% of max profit on the trade And so we're kind of in and out of that one Next trade was a rolling adjusting trade in intel So we put on a short strangle after earnings on their last earnings announcement Option prices stayed elevated sold some premium Kind of went against us. We had to make an adjustment and then We're we're to the point where we're well over 50 of max profit after that initial adjustment And so we just wanted to kind of book that credit and roll out extend duration a little bit. We're still down Uh, I think maybe a hundred two hundred dollars on the trade So we just wanted extend duration. I did mention intel announces on 7 25 So we've got a little bit of time before their next earnings announcement And if we're profitable even by just a little bit, we'll probably just close out before earnings If not, we'll make a decision as we get closer But if we take a look at intel Here's where we're at So pretty dead centered right where we right where we made the roll up a tiny slight bit since we've done the roll But just waiting for time to pass in intel Next trade closing adjusting trade in DIA so we closed out the Put vertical side of One of one of our sets of iron condors in di a price breached our upside break even So we just closed out the untested side still holding the call Vertical side as well as our other full iron condor So if you take a look at di a here's that short call vertical You can see price kind of blew through our upside break even so we closed out the untested side still holding that one And then in the same cycle within july we've we've also got this full iron condor Where price is kind of hanging out in the upper end of the range. So need a little bit of downside to you benefit that Next trade was an opening trade in mcdonald's. So mcdonald's has earnings coming up on Oh, I actually didn't even list it but we did a pre earnings long straddle in mcdonald's 36 days out so a little bit longer than we typically do these But implied volatility is so low and on a trade like this we like to target kind of 15 25 percent Kind of on the low range here mcdonald's is not that volatile of a stock And so let's take a look at mickey d's. So here's where we're at. We've got this long straddle You can see we're up about 75 bucks just after one day because of the price of the options have gone up Since we entered this trade, but just looking for some movement either up or down And you know, we've got about 17 55 is the Risk we have in here Total total risk total buying power. So we want to capture, you know 15 20 percent of that So if we can if we can make 400 bucks In one direction or another that's kind of what we're looking for here. Take a look at the chart I mean look at implied volatility. It is just A minimal, you know ivy percentile at two ivy rank at three And with that earnings coming up Good time to potentially buy some premium and and mcdonald's has been in a real tight range here the last couple weeks So if we can have a little bit of a breakout up or break down below Uh should be should be good on that one, but we will see what happens And then with implied volatility so low an expansion going into earnings, which typically happens You can see implied volatility expanding going into this earnings announcement This one kind of popped up and then just kind of traded A little bit of a decline into this earnings announcement So if we can get a pop from where we're at now, that's definitely going to help our position as well And then it's just another diversified strategy, right? I mean a lot of our premium selling net selling option strategies are delta neutral from a perspective of wanting to stay with in a range In this case with mcdonald's we want it to bust out of the range. So just again diversifying our strategies And last trade of the week was a closing adjusting trade in smh. So we had two pieces on to smh two different sets of short strangles We were right at about 50 of max profit on this piece of the trade And and then we're still holding our other short strangles So we went ahead and booked this one just to reduce our exposure implied volatility is still decently high In smh. Let's take a look at that Yeah, it's 58 on the ivy percentile And so we went ahead and closed out that one piece still holding this one I will look to add another centered short strangle in smh next week assuming implied volatility stays decently high And then we'll continue obviously manage this one, which is in july when we enter the new one We'll do that out in august which has 56 days until expiration So that's the plan in smh. So those are all the alerts. Let's take a look at some of our other positions Oil has made a big move up the last couple days back in the center of our range, which is great We uh, we were way out here. I think even close to our short strike even Uh, but just kind of held on and let the probabilities play out come all the way back up to center We're up a little bit on the trade. We've got a max profit on this of 14 30 So trying to get about you know, six or seven hundred dollars in profit out of that one before we do anything Yes, we've got our long put vertical that we've been kind of holding for that short delta exposure Needing some downside to get back into range on that We've got how many days do we have 28 days? So we've got some decent amount of time there Gold had a couple questions on this in the community. You can see price has breached our upside break even and certainly warranted, you know, you could have adjusted today I don't have any issue if you wanted to adjust today by closing out that untested side But we do got a little bit of juice a little bit of premium left in that put vertical side So we're just going to give it over the weekend if we get a nice move back down Then we'll get back into range if it continues higher. We'll definitely close out that put vertical side and potentially Sell some more premium. Let me see on gld where the ivy is on Uh gold he has nice and high so adding another piece to this next week will be on the radar for sure Uh, if we take a look, you know, it spiked up and then it spiked up again today But it's come significantly down off of its highs So if we get a little bit of a retracement to the downside, we'll be back in business back in range Uh, but either way we may look to add to this next week Natty gas has been on a vicious slide to the downside So we could definitely use a little bump To the upside here a little two-sided action if we take a look at our natty gas We've got these two different sets. We're sharing the three put on the put strike And then we've got two different call strikes, but fairly fairly similar positions Because he prices down here. It's out of our range here And I'll set them getting an update here. So let me close that out Um, and so if we take a look at just our calls You know, we're we're close to making an adjustment here if price continues lower next week We'll roll down our calls. Of course, we'll forget to bounce back to the upside That's what we're looking for and we'll we'll continue to manage as needed We've got 35 days to expiration. So got some decent time left there Bonds we've got a short straddle, which was originally a short strangle We adjusted into a short straddle. You can see prices right here If we take a look at our untested side, which is the puts You can see we still got a little bit of premium left in there if prices continue higher next week in bonds We will roll up our puts and as far as our time frame goes We would stay in that august cycle with 35 days to expiration Of course, if we get a down move, we're we're not too we're not down too much on this trade when we made the roll We were fairly close to even So any kind of a slight down move and if we get a down move it down to 152 for example, you know, that's a $1,400 $1,500 Swing in P&L. So we would just be able to close out with a profit at that point. So we'll see what happens mentioned ZW apple We've got this Long put vertical looking for some downside in apple You know price had made this big flush down and then bounced up We were looking for a little bit of a continuation to the downside, but that didn't happen It kind of just ripped higher And so we're trying to get a little bit downside action in apple before we do anything there Very similar thing in john deere had that big push down and bounced up and we're looking for a potential continuation to the downside We were looking to add short delta Still being strategic about that and then but you know again continue to rip higher in John deer. So we're just fighting that one. We'll continue to To hold on to that one for now DIA I mentioned that one fxi So we've got an iron condor on here could have made an adjustment here You can see prices is outside the range But we if we look at that put vertical side again, we've still got a little bit of premium left But if it continues higher in the next week, we will make an adjustment there Of course if it comes down back into range We will just kind of hold and manage from that perspective Goldman sacks another position that we put on for some short delta You can see prices hanging out right here just inside range Looking for some downside to benefit this as soon as we put this on we actually had a decent amount of profit But we're looking for a little bit more and we needed that short delta Unfortunately kind of reversed course on this and came up So we're we're still within range, but just looking for some downside in gs IWM we've got an iron condor. You can see prices kind of hanging out here in the upper end of the range I could use a little bit of downside and some More theta decay before we do anything there IYR we've got two pieces on here. We've got this short call vertical which was from That we rolled it was part of an iron condor. We closed out the untested side rolled this one out to july And now we're just waiting for some more downside before we do anything there And then in addition to that we have another full iron condor Which is pretty centered got a little bit of profit just waiting for some more in that KRE This is originally a strangle adjusted into a straddle. You can see we've got a few hundred dollars in profit Back after that roll. We're still down a tiny bit pretty close to even here So what we'll do we've still got 28 days to expiration Next week we'll probably either make a decision to close this for a small profit if we're profitable or we may look to Roll that out to august to extend duration and try for some more profit Depends on plied volatility, but right now it's nice and high so we would consider rolling and keeping that You know because if we took it off we may just you know enter a new position Anyway, so we'll see where we're at with that one next week, but could be a close or a rolling situation I mentioned mcdonald's qqq cues have been really strong We've got those two sets of short call verticals, which are way out of our range So we'll look at least rolling one of these we've got 28 days to expiration But we'll look to roll at least one of these sets out to august just to kind of diversify our time get back into a positive theta position We need some downside in the cues I mentioned smh sp y we've got two different pieces here One is this iron condor with price kind of hanging out in the upper end of the range here and the other piece Is a piece that we had rolled from the last cycle and you can see price with this strong movement has come out of range So looking for some downside to get back into range on that piece XL k kind of a similar situation. We've got a long put vertical looking for some downside to get back into range there And xrt we've got this short strangle with price hanging out up here Just looking for a little bit of downside and some theta 2 to k before we do anything in that one See implied volatility has been slowly contracting since we put this on But just need a little bit of downside to get back into center on that one So That's all the trades. That's all the alerts. Hopefully we get some more opportunities to add some positions We've got a decent amount of cash. I think we're using about 35 Of our net look in buying power right now. So definitely have some room to add some positions But also don't want to force anything We like to you know, if we can get a little bit of a downside movement in some stocks Get a little pop it implied volatility. That's always a better a better situation to enter new trade So hopefully we get some of that and potentially close out some for winners in our current portfolio Everybody have a great weekend. Talk to you next week