 Happy Friday navigation traders today's November 22nd welcome to this week's video update where we review all trades all positions and first Talk about who got caught being hot in the community This week goes to Kathy. I hope I'm saying this right Kathy Kathy Narvaeus Kathy is just over a month into the community. I believe and but man. She came in hot Answering questions asking questions posting trade ideas. We love the engagement. We love how everybody is so helpful Keep up the good work Kathy. You got caught being hot Let's jump into the alerts starting with Monday the 18th First trade we did was an opening trade in CL. So we put on a short strangle in oil and this at this point there is 58 days until expiration and So we've just since we put it on we're up about 280 bucks Since Monday, so still dead centered waiting for a little bit more profit before we take that off Next trade in Google. We did a an iron duck in Google Ducks continue to be an awesome trade This one we did with 11 days to expiration. So if we take a look at Google Google See prices come down since we put this on Price is actually dead centered in the duckhead. So What we're gonna look to do next week is Possibly put on another Google duck and we'll probably so it'll be a new fresh one So the break even will be way down here and we'll probably we'll check out the same expiration but more than likely we'll put it on in the Next expiration either what currently has 14 days or maybe even 21 So we'll see how it sets up next week But look for that just to kind of layer in to Google the way the way I like to look at this is So this is the current break-even and if we set that break even to our chart just to give us a little bit different visual You can see whoops Let's let's remove these. I'm not sure what these are from Move Okay, that's not what I wanted Remove drawing Move drawing and so this is our this is our break even so if price continues lower It you know, there's a potential will take a loss on this and we still have a week left We have all of next week to be in this trade But if we put another one on We're moving our new one with a new break even down here And so what that'll do is just layer into this So, you know, our new break even will be somewhere down here and implied You know and if price does move down and pride vol implied volatility will most likely start creeping up And we might get a bigger credit. So that's what we like to do, you know, not every one of these is gonna work out but If if price does continue lower, that's what we'll look to do and If not, if it stays right here, we'll collect another duckhead or if it shoots back higher Obviously, we have the option to take the beak as well. So we'll see what happens in Google, but that's the plan Next trade opening trade in TGT target. We did an earnings iron duck in target And so with this one price shot up targets been on fire. Let's go to a chart real quick of TGT and Let's go back to a year chart So the last earning cycle had a huge move higher and then it just kind of grinded higher all quarter Then again this quarter boom shot up and so we put this on right before earnings And so what does that mean for us duck hunters? Well prices way up here and way up here and so You know at that point I was trying to actually take this off early just to free up the capital because there was a very low chance of it ever getting back to the max profit area But what I don't want to do is I don't really want to pay up to take that off because if it expires here I'm just gonna keep that big profit, which isn't much. I did this super tiny only two contracts So it's a twenty six dollar profit, but that's what we did We just let this expire took it off I tried to get filled earlier in the week and when you're trying to get filled on these when you want to Make sure you get the big profit just remember that It's always on there on the regular ducks It's it's always the width of your call spread is the price you want to take it off So the width of the call spread is $1 so we didn't want to really buy this back for any more than a dollar To collect that beak profit and I was trying to get filled at 98 cents 99 cents even a dollar wasn't getting filled So I wasn't gonna chase it. I just simply let this expire and we keep that keep that beak profit So that's the goal there anytime we get way up here in the beak. It doesn't make sense to keep it on just because You're you're tying up that capital in this case. It was only 574 bucks But I know some people in the community did take it off and you could do that a couple different ways If you're not getting filled you could just close out the short options or you could just Close out the put spread to so those are a couple different options as far as the alerts go and managing these trades We're gonna put it on as a duck and take it off as a duck But there's nothing wrong with freeing up the capital by by buying back your short strikes or buying back one side So keep that in mind Next trade opening trade in Tesla So in Tesla we did a reverse iron duck and if you go back to part three of the course We talked about you know, typically in equities typically in stocks and indices You're you're you're gonna be putting on a regular iron duck because the puts trade richer than the calls But there are situations like we're seeing here and there's a couple others like Roku Shopify both have high High premium in the calls right now. So trading a reverse iron duck is on the board as well. So let's take a look at Tesla Actually, I actually tried to get close this one out today as well Because price ran the other way to the downside in this case and so, you know, very little chance of getting back if we put our price slice right to the You know the edge of the beak, you know, we've got about a 10 percent 11 percent probability of it getting back So I was actually trying to close this out for beak profit same situation I couldn't get I couldn't get filled for in this case Now now this is a this is the reverse right? So this is a reverse iron duck So it's the width of the put spread and so it's two and a half points wide So we don't want to close this for less than $2.50 and so I was trying to get filled for less than 250 didn't didn't happen So we'll try again Early next week and here's the thing. I mean, this is this is all the way out to December 6th Is the December 7th is the expiration date and so tying up, you know, almost $2,200 in capital For that long. This doesn't make sense. We're just gonna take this take this beak profit and run Next trade closing trade in XRT So we had a short strangle we had adjusted it into a straddle and then we took it off ended up booking it a small profit But got out of that if implied volatility pops higher will potentially look to re-enter a new trade But we are out of XRT next trade closing trade in Tesla. So we had a Regular iron duck in Tesla as well and we went ahead and close this out a bit over beak profit same situation There's less than a 10% chance of price moving back into the max profit area. So we just took that beak profit and Close that one out Next trade opening trade in Roku. So another reverse iron duck in Roku. So let's check that out Here's what that looks like. So price is hanging out right here If we move this to the edge of the beak, you know, we still got a 31% chance probability that it could get back into the duckhead so We're holding on to this expiration 12-7 So we'll see what happens in Roku. Roku has been on a a little bit of a mini run to the upside So obviously if if it continues higher, we've got potential to get into the duckhead if it Turns around and and falls over then it'll you know potentially just hang out in the beak area But we'll see what happened. We'll see what happens Next trade closing trade in RUT. We had a weekly double calendar in rut Ended up closing up closing this out for $10 and 55 cents Kind of disappointing Phil because I actually put in an order right near the open for $11 and 50 cents and I know a couple of our members got out at like $11 and 40 cents I just I really haven't seen a price collapse like this on the last trading day Usually it kind of stays bitter or goes up but in this case implied volatility was contracting and so Price moved lower so we ended up just bailing it at 1055 could have been a little bit more patient And it would have went up some but anyway out of it booked a nice profit It was dead centered in the in the weekly double calendar and so booked a few hundred bucks on that trade Next trade closing trade in SPX Another iron duck that was way up in the beak less than 10% chance of getting back to max profit So we just we booked a little bit more in this case the call spread was five points wide We had the 3055 and the 3060 So we wanted to buy it back for less than five bucks in this case We bought it back for 495. So we booked a little bit more than Booked a little bit more than the than the big profit on that one Next trade closing trade in Amazon. So we had this one on for I think we put it on when there's like 11 or 14 days expiration I can't remember exactly but Nice move in Amazon came right smack dab into the duck head and we smoked that one in the head So nice nice profit there of 575 bucks and Then lastly closing trade in target. So we put this on and We just this was way up in the this is the one I already showed you Wait, what was the other target trade I just mentioned before. Oh, that was a different one. Oh That was the opening right so then Yeah, this is this is where we just let it expire and book that book that profit So out of target and so those are all the alerts. Let's take a look at some of the other positions We have on we've got a short strangle in 6b Premium has really stayed bid in here not getting much of a contraction We've had this on for about a week or so, but we're up a little bit still dead centered But not doing anything there yet CL I mentioned. Yes We kind of a late-day rally. We've got this long put vertical here prices still within range here Just looking for some more downside to benefit that Gold we've got this iron condor prices hanging out right here. So we got a little bit of profit Just waiting for some more to get out of that one Natty gas up about 2.8 percent big big swings in that gas, but You know with the premium in these things it doesn't even you know two and a half percent move barely moves out of center here So still in a good spot in our two Nat gas inverted strangles ZB bonds we've got two pieces on here one is This adjusted short strangle and you see prices hanging out right here So we need a little bit of upside to benefit that one and then we added another one Week or so ago and that's right here. So prices right here So we could use some more theta decay and a little bit of downside to benefit that one So hopefully price kind of bounces around and we book profits in both We're actually we're actually still down in our overall ZB strangle trade after adjustment So we're still working our way back to profits in that one wheat Pretty centered here. Just waiting for some more profit before we take that off Apple we've got this long put vertical prices just outside of range. So looking for some downside to get back into range there DE John Deere you can see prices hanging out right here inside range close that that's just a theoretical piece I was looking at So just looking for some downside to benefit DE These are kind of just that short Delta short bias plays To keep that short Delta exposure in our portfolio Which we're sitting at about right a little over two and a half excuse me a little over two to one on our short Delta versus theta ratio DIA same thing. We've got two different sets of short call verticals So this is both of them together. You can see prices just outside of range So again looking for a little bit of downside to benefit this if this market can ever go down We did get a few days this week, which is nice. I'd like to see this thing just roll right over But we'll see what happens oops EWZ we've got a Short strangle here now We're at about 25% of max profit in a fairly short period of time our strikes are fairly tight only three strikes wide because EWZ is a low price symbol. So we do these a little bit tighter as far as our range goes So if we if price stays pretty close to center here early next week and we can book 30% of max profit We will go ahead and take that off on Monday potentially Google I mentioned that one IWM we've got this Long put vertical here. Just waiting for some more downside to benefit that Same thing in QQQ. We've got two sets of short call verticals here prices hanging out right inside range here Just looking for some more downside to benefit that so you can see what'll happen if we get a little bit of downside in stock So it'll really benefit our portfolio Roku I mentioned SMH So we've got this adjusted short strangle You can see prices hanging out outside of our range here But if we look at just the untested side just the puts you can see we've still got a decent little chunk of premium left in there So we're not looking to roll those up yet not looking to make any adjustments We're not adding to this one because implied volatility is just too low I thought implied volatility started spiking this week as price was coming down I was hoping we'd get up to a little bit higher I was gonna add to this but didn't happen it contracted today So just gonna continue to manage that one SPX we've got just the one duck in SPX we took off the other one So if we take a look at that you can see prices hanging out right here in the duck beak We can use a little bit of downside to get into that duck head And we'll look to potentially add to this one next week This one has I think 14 days to expiration. No seven. Oh, yeah. Yeah 14 This one's got 14 days to expiration So with implied volatility being as low as it is we'll probably have to go out further So we might look to throw on another 21 day duck, but we'll look at doing that first thing next week SPY we've got an iron condor Price is hanging out in the upper end of the range here right at the break even I've still got a tiny bit of premium left in those put so we haven't taken them off yet But that's if price continues higher we'll close out that the put vertical side and see if we can get a little bit of a rebound Not looking to add to this one because implied volatility is just not very high in there either. I mentioned target Tesla did I mention Tesla? Big move down today. Tesla is down over six percent. I'm not sure exactly what that was due to I know they came out and they announced their new pickup truck which looked pretty looked like a rocket ship, but Tesla's anyway hanging out right here. We'll close this one out early next week if price kind of continues lower stays right here Only a 10 11% chance of getting back. So probably just book that And then xlk another short delta position. It's moved outside of range. So just looking for some downside to benefit that one So everybody have a great weekend. We'll look at putting on some new positions next week with with the ones with all the ones We closed out today specifically. We've got some A decent amount of capital in cash Looking to redeploy. So we'll be looking at potential trades more ducks Anything else that has some high implied volatility. We'll look to sell some premium and another potential weekly Probably a weekly double calendar You know, I like doing the ducks better than the weekly iron condor just because you got that no risk to one side if we're doing shorter duration trades like that, but We will we will look to potentially put on another weekly double calendar. So look for that Everybody have a great weekend. Talk to you next week