 What's up, Navigation Traders? Welcome to this week's video update. Today is Friday, October 19th. Before we jump into the alerts for the week, just wanted to point out a couple new things in the members area. When you first log in, you're gonna see a couple things. One, strategy watch list. We have updated this with some new symbols. We've removed some symbols. As symbols come in and out of favor, some stocks go out of business, get bought, merged. Other liquidity events come into the markets. This will be updated from time to time. And just to let you know, we just recently updated that so you can click on the strategy watch list for an updated version there. And then secondly, we sent out an email about this, but also the earnings watch list. We are getting ready to be in the thick of earnings season. And so this is something that's going to be continually automatically updated for you to give you the upcoming earning dates of the, about 170 some stocks of the most liquid stocks that we would consider for earnings related trades. And all those strategies are taught in our earnings course called how to trade options on earnings for quick profits that you'll have here. So let's jump into the alerts for the week, starting with Monday the 15th. The first trade that we made was in the ES. So we were simply rolling this trade down. We are over 50% of max profit on this piece of the trade. So what we like to do is we like to roll those strikes closer to the current price, pick up some credit for doing so. And in this case, we just, we stayed in November and because there's decent time left, some of the trades we had already rolled out to December. So just kind of spread that risk around via the different time frames until expiration. So if we take a look at that, here is the analyze tab. You can see price is pretty close to where we rolled it from. So if we get a little bit more downside, that would benefit this. And this is our long put vertical, which we originally implemented for that short Delta in our portfolio. Gotta keep that short bias anytime you're selling premium to protect yourself from vicious downside moves, like we've seen recently. And that's benefited us greatly for having that short Delta on. Now, as far as where we stand with our short Delta to theta ratio, we always talk about, we like to be in that one to one to five to one. So for every dollar of theta, we like to have a dollar of short Delta up to a maximum of negative five Delta per one. So one to one to five to one is the kind of ratio that we like to play in. And right now we're about one to one. So we're on the lower end of that range. So if we had a massive move down, it's not gonna help us as much. But of course, if this market turns around and starts going higher, we're gonna be in a good position for that as well. So I really like having this position after the big down move, it sucks away a lot of our short Delta and that's just how the game goes. And so we're gonna continue to manage that as needed. If we do see some more upside in the market and we wanna reposition for a little bit more short Delta, we might do that. We're automatically going to get more short Delta as the price moves up due to the range bound trades that we like to trade as part of our core strategy. But we'll just see what happens. So right now we're about one to one. Now the long put vertical is also separate from our ES iron condor trade. So we've got two sets of short call verticals that were originally part of our iron condor trade. And we'll go over those in just a second here because I know we've got some trades that happened this week in that piece as well. The next trade was an opening adjusting trade in IWM. So we just added an iron condor in IWM, IV percentile nice and high at 97. And so we added that on. So we still have a short put vertical on as well from an iron condor. Let's take a look at that. And this is the iron condor we just put on. So we've got a little bit of profit in there at this point. Not enough to do anything with yet. And then if we look at just the short put vertical, which we still have on, you can see it's busted way out of range with this down move, but we're holding it to kind of help balance out our portfolio if it moves back up. Great, we'll benefit on that piece. If not, we'll probably close this as we get closer to expiration or potentially roll it to help balance our portfolio depending on where everything is at. So stay tuned for that. Next trade, rolling adjusting trade in Apple. So same kind of situation. In this case, this was our last trade that we had left in October with just four days to expiration. Those October options expired today, Friday. And so we just simply rolled down our long put vertical. Excuse me, we just rolled it out in time. So we rolled it from October to November, stayed in the exact same strike. So we're at the 232.20. And we just picked up some credit for doing so and continue to keep that as short delta in our portfolio. And Apple's been really strong until this week and we finally got some down movement to help benefit that piece, but here you can see where price is still well within our range, pretty close to where we put it on. And if we get some more downside in Apple, that'll benefit that trade. Next one was a closing adjusting trade in Ford slash CL. So we closed out one of our short strangles, booked around 40% of max profit on that piece of the trade. And at that point we were still holding our adjusted strangle which was at the 68 and a half strike for both the puts and calls. So we still had that on and we exited that later here in the week. So once we get to that alert, I will go to the platform to show what we've got there. And then next trade was a closing trade in EWZ. So we had a short strangle on here, had this on for just 13 days, booked a profit, over 40% of max profit in just 13 days. And remember I've been talking about this for a couple of weeks, but even before the market volatility that we've seen, the implied volatility in EWZ was extremely high due to the current presidential elections that are going on in Brazil. And it really pumped up the option premium which was a great opportunity to be selling premium. Fear is nearly always overstated and that was the case here. So we booked a nice profit on that one. Next trade was a closing trade in Costco. So we had an iron condor on in Costco, had that on for just 11 days and booked a 35% of max profit in just 11 days. And that's how quickly this implied volatility can contract. This was actually a post earnings iron condor that we did in Costco. So they had earnings but implied volatility stayed bid, stayed really high. So we jumped in there and sold some premium and benefited well. So good trade in Costco. Next trade was a closing trade in EWW. This was another kind of allowing the same lines, booked over 30% of max profit in just six days. And we put on a short strangle in EWW when the implied volatility got super high, contracted and booked a nice profit really quickly in EWW. Next trade was a closing trade. And so this is where we closed out of our short strangle in oil and CL. So this is one that we've had on for a few months and we just stayed mechanical. We sold some premium. It kind of moved to one end of our range. We might add a little piece to it and we continued to roll and stay mechanical and do what was needed. And so this was the close of the overall trade that we've been in for a few months. So let me go to the closing trades if you didn't see this. This was our biggest single winner that we've seen in our Alerts portfolio ever since we started posting our alerts. So we booked over $3,400 just on this one trade. You can see we started this trade back in, at the end of May. So several months in the trade but just continued to stay mechanical. And we were never really down on the trade. Implied volatility was just nice. So we kept kind of adding to it and taking it off, and as you can see, booked a really nice profit there. So great trade in oil, and I've talked about this before, but oil is one of my favorite vehicles just because you get so much credit for a fairly low buying capital requirement. So love trading oil. And so we were out of that at this point. And then the next trade was EWZ. So implied volatility staying nice and high. So we entered a new short strangle in EWZ. And so we've still got that on. If we take a look at EWZ here, you can see still pretty centered well within our range. And we'll still continue to monitor that one as needed, but nothing to do at this point. And that's in November, which at this point now has 28 days to expiration. So remember, once we get under 21 days, we'll be looking to roll or do something or close that one out. So we'll see what happens. If we get a quick contraction in implied volatility, who knows, we may book this winter if things go like they have been. And if not, we'll just continue to manage it as needed. Next trade was a closing trade in XRT. So again, another quick winner. We were only in this one for eight days, booked right around 30% of max profit in just eight days in XRT. XRT is the retail ETF. So if you take a look here, if I could type this in here, XRT, you can see implied volatility. We put it on when implied volatility spiked up to this area and then had a quick contraction and took that off for a nice winner. So we're at an XRT at this point. Next trade was an opening adjusting trade in EEM. So we already had an adjusted strangle in place. Price moved down to the very lower end of the range in our adjusted strangle. And so we hadn't adjusted that one again yet. But in this case, we just added on another centered strangle. In this case, we did it out in December with 64 days to expiration, which is just outside of our wheelhouse. We tend to stay within that 30 to 60 days. But in this case, November only had 29 days, so less than 30. In December had 64, a little bit over 60. So we opted for the further dated options, giving us a little bit more time on this one. And so if we take a look at EEM, we've still got both of these pieces in place. Here is our November one, which is an adjusted strangle, currently basically a straddle at the 42 strike. And you can see prices hanging out down here in the lower range. If we look at just the calls, you can see we've still got a tiny bit of profit left in those calls. So if price moves much lower at all, we're going to adjust that. But if it moves back up, we may book a profit if it moves up. So we'll just see what happens. I'm not ready to roll those calls down yet at this point. And then the piece from the alert that I just added was this another strangle. You can see it's dead centered. Not much profit or loss at all. Still very centered from right where we put it on. So we'll continue to watch that as well. Next trade was an opening trade in Ford slash 6B. So I noted here that 6B was just recently added to the navigation trading watch list. And this is the British pound futures. So we used options on that futures contract and sold some premium here. And I noted that the IV percentile is currently at 86, and we used the corresponding ETF, which is FXB. So if we take a look at FXB, that's because the implied volatility indicator isn't very accurate on some of these futures contracts. So you've got to use the corresponding ETF to get an accurate reading. And in this case it was nice and high. So we put on that short strangle in Ford slash 6B. And you can see we've got a little bit of profit here up about 87 bucks, but not enough to take off yet. We're looking for between 30% and 50% of that max profit before we close that one out. Next trade was a rolling adjusting trade in Ford slash ES. So this is one of our short call verticals. It was originally part of our iron condor trade, kind of same situation as the long put vertical where we're up over 50% of max profit. So that profit line started to really flatten out on us. So we wanted to roll those strikes closer. And in this case we rolled this out from November to December and then adjusted our strikes down to pick up a nice credit here. So if we take a look at ES again, we already looked at the long put vertical here. So let's reset these so I can check on the correct boxes and then we'll take a look. So we'll uncheck that and then we will take a look at this one here. And so you can see price has moved down some since then. So we're up several hundred dollars on that piece. And then here is the other one. So very similar trades, both of them out in December and this one is pretty close to where we put it on. So just again holding those for that short delta, that short bias in our portfolio. And we'll continue to manage those as needed. Next trade and the last trade was we got back into oil. So applied volatility stayed nice and high. IV percentile was at 62 and IV rank was at 70. And we were using USO, the corresponding ETF, to look at that. Now usually IV percentile most of the time is higher than the IV rank. So in this case I noted what the IV rank was as well. Sometimes you get in periods where the IV rank, based on the calculation of that implied volatility indicator, they just have a little bit different calculation. That's why we use both. Because we want to see if either one is over 50, that to us that represents good opportunity to enter trade. So let's take a look at USO. And you can see it's at 66 on the percentile now, 73 on the rank. So great time to be selling premium. So we entered a new short strangle in oil. And you can see it's right where we put it on. Applied volatility has actually gone up a little bit since we put it on. So you can see we're slightly down on the trade but dead centered in the middle of our range. So those are all the alerts. Let's take a look at some of the other positions. I mentioned these ones, gold. Gold we have this short strangle on here. And it seems like gold has been hanging out in the upper end of its range for quite a while now. So we're down on the trade but still well within our range. No need to adjust yet. We are in the December options which still have 39 days to expiration so a lot could happen in the next 39 days. So if price continues higher then we'll just roll our puts up, collect some more credit and continue to manage that as needed. Obviously if price moves down back into the center of our range, we'll have the opportunity to book a profit. And that would probably happen next week. If price moved down we'd have a chance to book this one next week but we'll see what happens. Natty gas has been a little bit of a wild ride for us but we've got two pieces to this trade on. One is this adjusted strangle where you can see prices hanging out up here. So could use a little bit of downside movement to benefit that piece. And then we've got this other unadjusted strangle where price is pretty centered here and just waiting for some implied volatility contraction to benefit that. If we take a look at the implied volatility we'll use UNG which is the corresponding ETF. You can see this implied volatility has been grinding higher and it's higher than when we put it on so we haven't gotten a lot of that theta decay for just being in the trade for the period of time we have but eventually this will contract and assuming price stays in a decent range for us hopefully we get out of this one nicely. Next trade, wheat. We've been in this one for quite some time continuing to manage. I was actually looking for a closing. We had a little over $300 at one point according to looking at this. I tried to get filled, we weren't getting filled and it's come down a little bit since then but we'll continue to manage this. The other thing we will, if it moves a little bit lower potentially we might add another centered iron condor around that to collect more credit and extend duration on that trade. Apple, I already mentioned that we've got the long put vertical so looking for some downside to benefit that. DIA, we've got two short call verticals one in November, one in December. This is our November position and so just looking for some more downside to benefit that piece and then also the one that's out in December where we've got a profit there as well but could use a little bit more downside to do anything on that. Again, these were part of an iron condor we're just holding on to and continuing to roll an extend duration to keep that short delta in our overall portfolio. EEM, I already mentioned that one. EWZ, I mentioned FXI. We've got two butterfly spreads on in FXI. This is the call butterfly and you can see price had moved down slightly outside of the range here and we added a, hold that one for now. Both of these are in November so we added a put butterfly and you can see this one's pretty centered. We're up some money on this one. Not enough to take off yet. We like to get about 20 to 25% profit on this and we've got $720 in this so $140, $150 is what we're looking for before we would book a profit in that one. IWM, we've got the short put vertical already went over that one so could use some upside on that and we've got the other full iron condor as well. Kind of a similar story with IYR. We've got this short put vertical because price had come down through our breakeven and so we took off the untested side and so we're just looking for a little bit of upside movement in IYR to benefit that piece and then we've also got another full iron condor on here where you can see we're pretty centered. We've got some profit in that and we haven't taken off yet. QQQ, we've got two sets of short call verticals and just waiting for this one in fact is over 50% of max profit but I just wanted to give it until next week instead of doing some more. We did a lot of rolling the last couple of weeks so just trying to spread that out. Still got plenty of profit in there if we do continue down but we will look to potentially roll this out to December which strikes closer to price, collect another credit and continue to play that game and keep it for short delta and then same thing with this one here we don't have quite as much profit here but just holding on to this for that short delta and if it continues too much lower we'll do the same thing with rolling and continuing to extend duration on that one. Restoration hardware one that we don't trade very often but it's set up nicely for what we're trying to do and this was simply the point where we're under that one to one short delta to theta ratio and so we wanted to add some more short delta on and in this case RH it came up and it had this big move down and then bounced up because they announced a stock buyback and we're looking for the stock to roll back over it went up a little bit higher after we put that on but it's starting to look like it's rolling over now so we'll continue to see what happens but again we just put that on for some additional short delta SMH this one we've got a short strangle on here that has been adjusted price is moving down here out of our range but remember we don't really pay attention to the breakevens after we've made an adjustment the way we like to look at this is if we just look at the untested side you can see we've still got a little bit of profit left in that one but if price moves much lower here we'll roll those calls down collect some more credit and then potentially roll out to December if we need to extend duration on this one TLT the bonds we need a little bit of up movement in TLT and we could book a profit there if not we may look to add to this one and add on another centered iron condor probably out in December if we were looking to add that next week and VXX we had our short call vertical that we added after implied volatility spiked up now implied volatility has gone higher since we put this on so that's why price has moved out of our range if we get another explosion in implied volatility we would probably add to this but at this point we're just waiting to see if implied volatility continues to contract and if it does price will move back into our range so we'll just see what happens and then XLK short bias position here we've got a decent amount of profit here we're just holding on to this and we'll either roll or close this one out depending on what happens there so that's all the alerts and those are all the positions hope that was helpful everybody have a great weekend and look forward to another great week of trading next week talk to you soon