 What's up trade hackers welcome to today's update today's Wednesday, September 23rd. Hope you're having a fantastic week of trading Hope you got your short deltas on today big flush down. We've got the S&Ps down 66 Dow down 480 Nasdaq down 300 and Russell down 35 so an all-out bloodbath to the downside We've been talking about this for a couple weeks how we got this initial flush down thought we might bounce and consolidate a little bit And then reflush and that's what we've done. We got another little bounce yesterday now It looks like we're gonna flush again I wouldn't doubt if we're seeing $3,100 in the S&P by the end of the week, but we'll see So here's the thing, you know, we are let me look at a year-to-date chart on a percentage basis So, you know, we obviously he had this big crash in February and March from the coronavirus scare And then we just ripped and rallied all the way back to a point where the S&P was up 10% Now look where we're at. We are basically at break even the S&P is negative by about a half percent Year-to-date and is that significant? Not really. I mean, I guess if you're an index fund manager Or if you're invested in index funds in your 401k that is relevant Here's the problem with buy-and-hold investing investing in index funds and that kind of thing is Yeah, theoretically the market goes up over time. I get it, but you're completely at the mercy of the markets Right, you just perform how the markets perform and I don't care if you're in an actively managed fund an index fund Whatever it is if you don't have a strategic way to manage your money Ie using options like we teach, you know, you're just you're just getting whipped around and you're not really Learning anything you're not learning to control your money You're just you're looking at your statements and it is what it is, right? And so I really encourage you those who are not trading yet Make sure you get in there learn what we're doing try to figure out how to do this so that you can actually take control and Make money regardless if the if the market's going up or down or sideways and that's what we teach here So hopefully that helps. Let's jump into what we did today Starting with day trading. So our day trades up 816 dollars and 51 cents on the morning If you want to check out more details on that go to our Facebook group You can just search for navigation trading on Facebook join our day trading Facebook group We post our daily recap there every day Aside from day trading. We also added a new iron duck in SPX So the great thing about the iron duck is there's no risk to the upside So if this thing does snap back to the upside, we'll make a little bit money on the upside But we've got a huge buffer to the downside where we can book a max profit So added another one of those today added an iron condor in gold Gold and silver starting to whip around quite a bit and this time to the downside had the big rally in gold and silver Came down kind of consolidated now. It's ripping back to the downside So we added an iron condor with implied volatility popping today also did an iron condor in SPY So just selling some premium into this down move into this expansion of implied volatility and then lastly we continue to roll down some of our short Delta position So we've got some vertical spreads and bunkers some long puts that we're holding for the short Delta exposure For when things happen like this and so we rolled down some of our short Delta plays I talked about short Delta in the beginning when you're selling premium when you're building an options portfolio It's it's it's critically important to have that short Delta because yeah That's short Delta's kind of get hurt when you're kind of just grinding higher like this But that doesn't go on forever and it doesn't really happen that often although we've seen it quite a bit this year after the drop But now we're seeing you know some violent two-sided action here And that's when you really want to have your protection in place So hopefully that helps if you guys have any questions. Let us know otherwise. We'll catch you in the next video