 Hey, what's up everybody? It is Friday July 28th. This is the weekly video update to review all the trades from the week Got some new members on here quite a few new members So I wanted to go through and make sure you are aware of our new e-book It's currently out the trade hackers ultimate playbook. You can get this on the website standalone's 49 bucks. We put a ton of work into this so it's worth a lot more than that but Or if you buy one of our courses on the site, we give you this to you for free So check it out. It's an awesome guide. A lot of traders are just printing it out Keep it in on their desk while they're trading to reference. So good stuff Got a lot of good feedback on it. So keep the comments coming and Let's jump into this week's alerts. So starting with Monday on 24th, so first trade we opened was in FXC and This is really just a directional play FXC has been on a tear to the upside So just looking at this from a contrarian standpoint If we take a look at the chart of FXC, you can see it's just had this massive run up And so we're just looking for a short-term pullback It's going against us a little bit so far no big deal So just need some more downside to FXC to benefit that position Next trade was an iron condor that we closed out in corn. So we booked that for over 40% of max profit These grains, you know, they were having huge moves there for a while And now they're starting to get a little bit more range bound But still decent premium still decent volatility to trade in the grain So we've still got positions in soybeans and wheat which I'll go over in a second But now we are completely out of corn Next trade was a an adjusting trade in SPY. So we had an iron condor Price breached our upside break even so we removed our put side Still holding the call side. We we did not as I stay here in the comments. We did not Enter a new iron condor because the the IV and SPY has just been absolutely horrendous now With the market being down the last couple days, we're starting to get a little bit of a pop and And so if it gets up a little bit more, we'll enter another iron condor But for now, we're just holding that call side. So we still have the call vertical and Just waiting for a little bit of a down move a little bit more of a down move in SPY To to get out of that as well Next trade was an opening trade in XRT So IV spiked up spiked up to IV percentile was up to the 80 level So we sold a strangle in XRT You see that's still very centered Looks like implied volatility has gone up a little bit since then even now to 74 But still very centered. So we'll continue to monitor XRT On the 26th we did an adjusting rolling trade in XOP So price had breached our upside break even and so we needed to roll our puts up So we wanted to roll our puts from 30 to 32 But with only 23 days left in the August cycle Remember we want to be out of these strangles either close them or roll them when you get down to that 21 days to expiration because then that the gamma the risk really starts to accelerate in those last few weeks of expiration So we want to roll that out to September so we not only rolled our puts up From 30 to 32, but we rolled the entire spread out to September. So if we take a look at XOP It has Continue to move a little bit higher since then even and so if we look at the analyze tab You can see need some down movement in XOP to benefit there Next trade was on the 28th. So no trades on the 27th, which was Thursday yesterday So trade this morning. We did and I sent it out in two separate alerts. So this was on our GLD calendar We had the 117 one 117 put calendar and we had the 119 Call calendar and so price breached to the upside So we took our 117 put calendar closed that out and rolled it up to the 121 call calendar so we now have the 121 call calendar and the 119 call calendar So it's a double calendar now. It's nice and centered now We need some acceleration of implied volatility and for GLD to stay in a in a range for us to benefit there And then lastly today, we took a trade in Facebook where we bought a butterfly So even after Facebook announced earnings a couple days ago They still have the implied volatility is still over 50 So right around 55 at this point of this recording And so we're just looking for Facebook to kind of settle down in this range and By doing that we did a nice big wide butterfly So we'll take this off for about about 20 to 25 percent of the debit paid which in this case was 631 So let's see a couple other positions that we also have on in the ES S&P futures. We've got this Put vertical so looking for a down move there and again I keep repeating this but we've we've got this on for short delta in our portfolio anytime you sell premium You've got to protect yourself to the downside and so that's what we've got here now Obviously when the market has been in a grind higher for what seems like forever, you know that short delta is gonna hurt you It's gonna be a little bit of a drag on your portfolio But you got to keep it in there and if we get a little bit of a continuation of this down move You can see the markets down S&Ps down almost nine today at this point And maybe we can get some momentum and get some of that off as well Soybeans still in this iron condor kind of hanging out on the lower end But still well within its range need a little bit of a move up in soybeans to get out of that one for profit and Same story with wheat So next week we will probably look to add another grain position to get a little bit more centered Widen our breakevens, but same thing and wheat need a little bit of an upside to get out of that one DIA we had this iron condor and we took off the untested side this thing will load and So we're still holding the call side of this DIA iron condor and so we're looking for a continuation Down to benefit there and again that helps us add that short delta into the portfolio And let's see cues still got a strangle on in the QQ cues and Still very centered no profit or loss at this point. So we'll continue to watch that RUT we've got this calendar spread on total risk on this is 965 so we want about a 20% 25% profit, so we're looking for about 180 to $200 profit on this one. We're at about 150 right now So wait for a little more expansion in an IV to benefit that one Mention XOP and I mentioned XRT. So last thing. I just want to go to the closed trades Having a really good the July So haven't haven't booked a losing trade yet Just pretty awesome so Hopefully the trading continues Hopefully we get a little bit more of this two-sided action preferably to the downside in stocks It's gonna help our portfolio as well as spike implied volatility and give us some more opportunities To put on additional positions Everybody have a great weekend and we'll talk to you next week