 What's up navigation traders welcome to this week's video update today is Friday September 27th I hope everybody had a great week of trading before we jump into the alerts. Just want to remind you We've got our iron duck web class Starting this coming Tuesday October 1st at 4 p.m. Central time. So There's a lot of information in this strategy class, which is why we broke it up into three different parts So part one you don't want to miss it October 1st this Tuesday at 4 p.m. Central If you haven't registered yet make sure you go to navigation trading comm slash iron duck registration and And get signed up. It's gonna be amazing. Of course, it will be recorded We will edit it and you know cut it down into bite-sized sections like we do all our other courses That will be available for pro members, but there's gonna be a lot of cool stuff going on at the live event So if at all possible make sure you are there Let's see who got caught being hot this week in the community goes to Joe Rabena. I hope I'm saying that right Joe Joe is a newer member, but he's jumped in right away answering other people's questions helping other members love it That's what this community is all about. So congrats Joe. You got caught being hot And let's go to the alerts starting with 23rd was Monday and our first alert was an opening trade in Ford slash 6b So I had been watching the British pound for about a week and implied volatile Implied volatility kept creeping up and so we went ahead and entered with a short strangle in 6b So if we take a look I could see it's come down a little bit since we put that on but still well within our range We've got some profit here. I was actually hoping to take this off earlier this week We're almost at 30% of max profit and then a implied volatility went up a little bit Anyway, we didn't we didn't we never got filled in fact. I don't think I even put an order in but I was close to it But if we if we get 30% of max profit next week, we'll we'll go ahead and book this one So that's in Ford slash 6b Next trade opening adjusting trade in ZW in wheat So we opened up a new iron condor in wheat and we did this when the cycle had 60 days to expiration and Then the very next trade alert was closing Adjusting trade where we closed out our previous iron condor Booked over 50% of max profit on that piece of the trade. So working our way back to profitability in wheat Let's go. Let's take a look at the current one that we have on Excuse me Dead centered got a little bit of profit there not enough to take off yet. So just playing the waiting game in wheat Next trade closing adjusting trade in gold. So we closed out our short call vertical that we had in gold This was part of a previous iron condor. We were down to only having two days left to expiration Unfortunately gold never got back into that range. So we just closed out that piece We do have another piece on in gold Which is a full iron condor and you can see prices hanging out right here So we could use a little bit of up movement in gold and if price does continue lower We'll add another iron condor centered around the current price and And continue to keep that dream alive Next trade alert opening trade in spx. So we opened up a new weekly double calendar in SPX we did this starting in the front week with eight days back. We had 22 days to expiration and So let's take a look at that Prices have come down in the s&p but we can We're still we're still in this one We take a look here. This is our current position. It's just outside of our range Obviously if price makes a big gap down over the weekend that's gonna hurt But of course if it comes back in the range, we'll be in good shape So we're down a few hundred bucks about four shekels on that one at this point So just holding this over the weekend and we've got Five days to expiration. So we'll be closing this out on Tuesday or Wednesday So look for that in spx Next trade opening trade in oil For slash cl so we entered a new short strangle in cl Prices down been pretty volatile in oil But even with all that volatility, you know, right when we put this on implied volatility spiked So we're down right away on the trade excuse me, but Come back nicely. We're down a tiny bit, but still well within our range, you know implied volatility is so high I mean if you look at this we've got a $1,700 max profit on one contract. So big Big product with oil make sure you're only trading this in a sizable account I always tell people you want to have at least 25k in your account if you're gonna be making a trade like this because yes It does have a great max profit, but that comes with risk as well So make sure you are minding your position management correctly So here's here's what oils look like we had that big spike after the Saudi oil refineries got bombed and then They came out and said no problem We're gonna have our production back up within a couple weeks and so the price of oil went back down Which really surprised me. I really thought we were gonna get a little bit of a bounce higher here But that just goes to show you never never know what's gonna happen and was why you got to play the math Which is what we do here. So It looked like it was gonna bounce a couple days ago then bounce yesterday and now it's looking it was down It looks like it's bouncing again. So who knows what's happening in oil But we're in we're in good shape on our position Rolling adjusting trade in QQQ so we had one set of our short call verticals in the queues Was in October with 24 days to expiration We got to a point with the market moving down where we were well over 50% of max profit on that piece of the trade So we went ahead and rolled that out to November. So now we have both sets in November so let's take a look at the queues and Here's here's both of them. So here is the 193 198 I'll take that off. So here's one of them pretty close to right where we rolled it to and then our other one here It's got a little bit of profit just holding these for that short Delta exposure Speaking of short Delta our ratio is about two to one on our short Delta versus our theta ratio We'd like to keep a little bit of a short bias for those volatile down moves that we can see and So we're in good shape there Compared to our overall theta position about two to one Next position or next trade closing adjusting trade in four slash ZB So we closed out one set of our short strangles in ZB This was an adjusted strangle booked over 30% of max profit on that piece still trying to work our way back to profits in bonds Let's see was there another one No, yeah, so that's the only bond trade this week So now we've got just the one piece on so let's go to the platform and look at that It's that it's right here. So bonds coming down a tiny bit today We could use a little bit more down movement in bonds back to center But if price does continue higher up into this range We will look to add another short strangle on continue to collect that credit Extend duration and get back to profits in bonds. This piece still has 28 days So late next week or early the following week We will we'll be looking to to roll that out or close it depending on where we are and You know, I'd like to add another one out in the December cycle currently at 56 days to expiration but I don't want to I Don't want to overlap when price is still well within range on this one So if it if it jumps out higher, we'll definitely do that Applied volatility still continues to stay high in the notes and bonds. So we want to be premium sellers in there for sure Next trade opening adjusting trade in SPY So what we did is we opened up a new SPY Iron condor or we open we added to our current position I should say and so price is dead-centered pretty much where we put it on got a tiny bit of profit and then the very next Alert the next day was we closed out our other SPY iron condor as price moved down came back into Profits for us. So we booked over 50% of max profit on that piece of the trade And so then we're still just holding that one iron condor in SPY and Lastly today's only trade on Friday was a rolling adjusting trade in KRE So we've got 21 days left to expiration in the October cycle So once we get down to that range, we like to roll out to the next cycle in this case We rolled our puts up from 48 to 52 kept our calls at 53 So now we have the short 52 puts short 53 calls And then we've got another piece which is a short strangle in November with with the 50 puts and 57 calls So we've got two pieces on here in KRE I was hoping for a little down movement today and I was just gonna close this one And then just have the one out in November, but Price moved higher. So we rolled the puts up rolled it out to November Collected some more credit and you can see prices hanging out right here So nice decent range to play around in and collect some more theta And then our other piece is the 50 57 This one has not been adjusted or anything. So we've got some profit there just waiting for some more time to pass Before we do anything in KRE All right Oh, wow s&p's are moving down. By the way, uh, let me just show you something in spx. I've got a an iron duck So give you another little sneak peek and what's going on here I've got one that I put on a couple weeks ago And if price moves a little bit lower today, this position actually expires today If we can get down to in this range here Book max profit of over 1600 bucks on one contract But just need price to get a little bit lower if it stays right here or for some reason blasts higher We'll still make a profit But our max profit is right in this range. And so we just need a little bit more down movement Maybe a tweet from trump. Come on, buddy You know tell china that you're mad at him or something. I don't know just get this down a little bit. Anyway Um, you're gonna love this iron duck stuff. It is awesome And I can't wait to share it with you So let's go over some of the other positions. We've got I mentioned 6b. I mentioned oil. Yes We've got a long put vertical that we've just been holding for that Short delta exposure prices come down nicely here. Just holding this for some more downside potentially In gold I already mentioned that we've got that iron condor and gold natty gas Natty gas has been on a little bit of a mini slide Down but still well within range In our two sets of short strangles here could use a little bit of up movement a little bit of a bounce And we've got what do we have left here 31 days? So we got plenty of time in this cycle before we move on to the next I mentioned zb. I mentioned z w. Yeah, we got the iron condor apple We've got this long put vertical that we've been holding for some short delta exposure prices just inside of our range here So looking for some more downside there to help that one de john deere Uh similar price just inside of our range holding this for some more downside to benefit that trade DIA we've got two different sets of short call verticals One of which is in november. You can see prices hanging out right here The other one is in october And we're we're we're just about 50 of max profit there Actually just a little above as the market's moving down as we're recording this So if price continues lower in the next week, we'll definitely roll our strikes down as well as roll this out to november So that's the plan in di a E w z So this was this is another one that's down to 21 days to expiration So early next week probably monday, you know, if we can get some follow through to the downside We'll just close this and book a profit. If not, we may look to roll out to november The only thing that I would be more inclined to close it is implied volatility is super low So yeah, I would probably just close that even if it were not at 50 of max profit Probably just book whatever we have Of course, we hope it doesn't rip higher because that's gonna Take away that profit, but we'll look to do that next week Hopefully get just a little bit of follow through to the downside here And uh and book a profit in e w z Goldman Goldman sacks. We've got a long put vertical on here. That's out of our range So just waiting for some more downside to get back in I y r we've got a uh an iron condor here dead centered. No pit. No profit or loss yet Just waiting on that one. I mentioned kre. I mentioned the cues smh. So this is our one other Undefined risk trade that is in october. So we've got 21 days to expiration Just wanted to again give this till monday So if we get a little bit more follow through to the downside before we roll this collect some more credit On that roll out to november Uh, I mentioned spx. Oh no, no, I didn't oh, yeah. Yeah, I did. Um Yeah, just just outside of our range need need to bounce here Uh to get back in early next week SPY I mentioned and lastly xl k. So this is another one if we get a little bit more continuation to the downside We will address early next week. I just been holding this for that short delta exposure This is a long put vertical And so we will look to roll this out to november roll those strikes a little bit closer Collect another credit and keep that position going So I hope that was helpful everybody look forward to a great next week of trading. Have a great weekend. Talk to you then