 What's up trade hackers happy Friday today's November 1st welcome to this week's video update where we review all of the trades and all of our Positions before we do that. Let's jump in the community talk about who got caught being hot This week goes to Brad F. So congrats Brad Brad's been great Answered questions sharing trade ideas. I actually took one of Brad's trades this week So as I've always mentioned Great way to win the award is to bribe us with good trade ideas. So nice work Brad Keep up the good work. Keep it staying active in the community. It's really helpful for everybody involved. So Thanks for all your contributions. Congrats. You got caught being hot All right, let's go to the membership area and go through the alerts. By the way I know if you're listening to this you are already a pro member We are getting ready to increase our prices on our pro membership up to 179 a month and 1297 a year and that's going to take effect next next week So if you're a monthly member and you want to lock in the current 997 before it jumps up to 1297 just email support at navigation trading calm and and we'll take care of you there Otherwise you're good to go So let's go back to Monday, which was the 28th starting with our first alerts of the week the first one was Closing trade in SPX. So we had an iron duck in SPX and And price just ran higher So we ended up just closing this out a little bit early took the beak profit another day another beak and So we were out of that SPX iron duck trade next trade was an opening adjusting trade in Gc which is gold so we added an iron condor with 59 days to expiration and And then the very next alert was where we closed out our December cycle trade it was down to 28 days to expiration had over 50% of max profit on that piece So we just closed it out. So let's take a look at our current gold position Ford slash GC so you can see price. Let me widen this out so you can see it better GC price is pretty pretty well centered up about 50 bucks on this piece since we put it on So just waiting for some more theta to decay in our favor Next trade rolling adjusting trade in Baba So this was this is something that we don't do very often at all But we had a pre earnings long straddle on and what happened is let me go to the charts and just kind of give you an idea Let's go to Baba BA BA So we put this on back here somewhere, you know implied volatility was really low We're looking for implied volatility to expand leading up to earnings. I could typically does And what happened was price went up and so we got a decent move But look at what but implied volatility just stayed pretty flat And so what happened was you know up here on this day after this decent move higher We were still we I mean we had just a tiny bit of profit and so what we did in You know one option would have been just to close it out with a scratch another option would have been just to hold on to it And and but what we did is instead we rolled our strikes. We were at the 172 half We rolled those up to the 177 half and by doing that we collected a credit to do so and we kind of re-centered our our Long long straddle and so We were hoping for as you know again some potential Increase in expansion and IV we got a little bit But price stayed pretty steady had we held on to the original one with this price pullback We would have taken a pretty decent loss on the trade, but by doing that rolling strategy up We went it we ended up taking a loss of like 20 bucks on the trade instead of what it would have been hundreds So that that's what happened there. So we just rolled that up and And and then we later closed it before the earnings announcement. So that was the trade in Baba Next trade rolling just in trade in XRT So we rolled our short strangle in XRT from November, which was down to 18 days to expiration Rolled it out to December and we adjusted our puts up. So price was Had moved higher very little value left in our puts And so we just rolled our puts up from 41 to 43 kept our calls the same Just like we teach in the course and then rolled it out to the next cycle. So if we take a look at XRT Prices come down now back into center. So we've gotten back 170 bucks since that role and And so we're just playing playing the waiting game letting some more time pass before we do anything in XRT Next trade opening trade in the shop. So we did a an earnings iron duck. So Shop was set to announce the following morning. So we wanted to get into this on this day on 1028 So we entered that and it was just four days to expiration and just like we teach in part two of the class We just you know implied volatility is elevated we're able to get way below the expected move on the downside with no risk to the upside and And so that's what we did there. We ended up taking that off For a for a small profit just a just a little bit more than beak profit on that one And then we also did the same thing in Google GOGL and Same thing iron duck that we were holding over earnings and we took both of those off today If some of you guys took them off earlier, you you may have done better than us But we held them with today's massive price movement up in the overall market Pulling these stocks higher as well You know, we had a shot at the duck head But with prices moving higher kind of moved us into the beak And so that's what we took on those two trades took a little over beak profit on each of those Next trade rolling adjusting trade in XLK so this is a long put vertical that we've been holding for some short delta exposure and So with price moving up we just went ahead and rolled this adjusted our strikes up to 87 82 And to keep that short delta exposure in our portfolio, which by the way, we you know, we had a couple discussions about short delta in the community this week and You know, I mean with the with the market ripping higher like it has Anytime you have short delta. Let's just go to the S&P for example Anytime you have short delta when you have a period like this where I mean the market since the beginning of October has just Ripped higher. I mean when you have short delta, that's gonna put a drag on your performance I mean, there's just no way to get around it And so the question is how much how much short delta should you have and we like to keep it in a range because Things can change really quickly, right? so we like to keep it in a range between 1 to 1 and 5 to 1 of our short delta versus our theta ratio and so Right now we're at about 3 to 1 and so yeah I mean this this rip higher. Does that go against our short delta positions? Yeah, absolutely And so what can you do about that? Well, I mean, it's it's really just a comfort level and kind of the discussion We had in the community We like to stay in that range of kind of 1 to 1 to 5 to 1 But you know, you might you might you know, I know like big Willie in the community He likes to have a ratio. He stated many times of you know between minus 300 and plus 300 So he doesn't mind having long delta in there either and there's nothing wrong with that At all. In fact, you know, he's he's probably done better this year than us just because he's had more More long delta potentially. So it's just a comfort level You know, it's always it's a double-edged sword as I mentioned where you know When you when you have a big rip higher like this, you wish you had long delta, obviously, right in hindsight But when the market moves down Like it did, you know, let's go to a yearly chart You know when you have these big flushes down like we've seen this year You know three different times You know, then you wish you had more short delta, you know So trying to trying to balance that level because you're never gonna be exactly right You're never gonna be able to put short delta on right here when it's getting ready to go down and then flip put long delta on here so the the goal is really to just have a Delta range in mind that you're comfortable with and that you can live with whether the market rallies or the market drops and Then you've just got to tweak and manage and massage that delta as you go along So that's that's really all you can do. The other thing I didn't really mention in our conversation in the community is That's one of the actual I mentioned this in the iron duck class is the short delta dilemma, right? You were putting on a lot of these delta neutral trades iron condor short strangles And when you have the market rip higher like it has you're automatically gonna accumulate more and more short delta as the price moves to the upper end of the of your ranges and so You know, it's the short delta dilemma. Well, you know, how do you do that? Part of what I just mentioned is how you do it You can either take off some short positions or add some more long positions to continually manage that but that's that's part of also why the iron duck is such a special strategy is because you have this huge Buffer to the downside, but yet you don't get killed on the upside, right? You have no risk. In fact, you make money on the upside and so You know that that's that's part of the equation too is you know continuing to Implement those iron duck strategies into your portfolio. It doesn't take away from doing verticals or anything like that But but definitely a good a good piece to the puzzle to help with that whole short delta dilemma As far as how much you should have and what types of positions you should have Because you you get those short iron ducks on and you've got the huge buffer to the downside So that kind of counts as short delta But then you also don't get killed when things rip higher like they have and obviously you can see with our iron duck trades We've hit a lot of beak profits and that's gonna happen when you have I mean We did our class right at the beginning of October October 2nd I think it was this day was our first class and look what's happened ever since just nothing but upside So, you know, that's a lot of a lot of beak profits in there You know, we get we get back to having a little bit more two-sided action You know, we're gonna we're gonna a be able to put on those for better credits Get further away from price and have that big buffer to the downside. So hopefully that helps, you know It's there's no there's no right or wrong way to do it We just kind of have our range of kind of one to one to five to one and you've got to find what your comfort Level is based on your account size your risk tolerance and all those good things Next trade rolling adjusting trade in oh, I don't think I I don't think I showed you XLK So we rolled that XLK long put vertical and Seek and see prices hanging out right here near our break even now. It's moved up even since we put this on So just looking for some downside to benefit that Next trade was rolling adjusting trade in DIA. So we had two sets of short call verticals in DIA in this alert We rolled one from November to December and then we just adjusted our strikes appropriately when we adjust these We like to roll it so that we have about a 60% pop 60% probability of profit. That's how we choose our strikes And and so we and it keeps the short delta in our portfolio Extends duration. We've been just kind of using these as a Downside hedge for some time just kind of rolling these along. So if we look at DIA Here's the one that we rolled so prices right here So it's come up a little bit since we did that roll and then we've got our other piece here Which you can see price has busted out of our range now So we need some downside to get back into range on that DIA short call vertical Next trade opening trade in SPX So we entered a new iron duck in SPX did this one with 15 days to expiration Whenever implied volatility is low and whenever it's you know prices are going higher We like to we like to kind of do a little bit longer duration in other words if implied volatility is high And and the market's going down sometimes we can get into these with some shorter duration like Five days seven days even is down to as low as one or three days But when it's going up and implied volatility is low you got to go out a little bit further So this one we entered with 15 days to expiration and of course the market's ripped higher since we put this on and so Let's click on that trade here so you can see prices way up in the duck beak now if we put our Slices to break even 1114 change your calendar to the expiration date 1114 You can see you know prices right here our duck heads way back here So just just since just in a few days look out look how far prices moved up We're almost at the max of our beak there And I've talked about this a couple times now, but we if we move our break even right to the edge of the beak You can see there's about a 25% probability That price could get back down into that max profit area So we're gonna keep this on for now if this gets down to you know less than 10% chance of being able to get back down into this area You know, that's when we will That's when we'll just close it out for big profit and then redeploy that capital into other trades Next trade closing trade in DIA. So we had an iron duck in DIA course mark market move and hire We booked a big profit there Did a closing trade in IYR? So we had an iron condor in IYR and we'd have this on for quite some time just managing adjusting Staying mechanical. We ended up we ended up just implied volatility was pretty low in IYR So we didn't want to extend this we didn't want to add another iron condor in the next cycle So we ended up just closing it ended up just taking a loss on the trade after all adjustments But the good thing is we you know the silver lining is we went from what was a pretty big loss initially in the trade And we managed back to a smaller smaller loss. So that's important too that makes a big difference in your overall P&L over time So don't discount that Closing adjusting trade in ZW So we had an iron condor price moved higher and then we took off the put vertical side So we had this remaining short call vertical and then price moved back lower And so we ended up taking that off ended up booking 50% of our original credit on that trade So that was good. And then we've we've still got our our other full iron condor in wheat Price moved up nicely today. So we're we're into the profit on that one So we'll we'll do something, you know price continues higher. Obviously, we'll take this off next week And if not, we will look to potentially reload and add another iron condor in here to still work on our way back to profits in wheat It's been a long road in wheat But I think it's a great a great trade just to continue to show people how we manage these trades as you go through time You know, most people probably haven't started with us in that wheat trade and gone all the way through But we really like to use these as a learning tool as well to teach you how we adjust these things And this is a really good example of that Next trade closing trade in Baba. So I already mentioned that that was our pre earnings long call Ended up taking that small $20 loss on that one. We just didn't quite get the IV expansion we needed So we were out of that one before earnings Next one was a closing trade in RUT. So we had a weekly double calendar in rut ended up booking a nice profit of over 600 I think it was 605 to be exact So we were out of that I looked at putting on another weekly double calendar today on Friday. I just didn't like the risk reward in there So we'll take a look in it early next week and potentially get another one of those on But we are out of our weekly double calendars at this point Next trade was rolling just in trade in ZB. So we had a short strangle in ZB Got down to 22 days to expiration We just rolled this out to Jan with 57 days and we were well over 50% of max profit on that piece of the trade and With just 22 days just decided to roll the whole thing out in time So if we go back to ZB Take a look here. You see price is kind of hanging out pretty close to where it was when we rolled this thing Right here and so still gives us a little bit more upside room Which I like and then just playing the waiting game waiting for some time to pass, you know originally Not originally, but we did have two pieces on here So if price were to you know run down to around, you know, the break even or lower We would potentially look to add another piece on here assuming implied volatility was decent But for now we're just gonna manage this as is and and getting back to profits in ZB Next trade rolling just in trade and IWM so kind of like XLK We had a long put vertical just rolled this out from November to December and adjusted our strikes Appropriately to get back to kind of that 60% pop This keeps that short dealt in our in our portfolio and gets us back to a positive theta position So if we look at IWM I can see prices moved up even after I did this and so we're still still within range But just looking for some downside to you benefit that And lastly it was our closing trade in shop So I already mentioned that we close that out for a little over beak profit And looks like I need to refresh this page because it's not showing the goog The googel Trade that we that we closed as well. Let me see. I think I I sent that out right before I started recording here So if we go back to alerts, yeah, there's the Google one so same thing book this for a little bit more than beak profit and So that's where we at. That's where we're at. Those were all the alerts. Let's take a look at some of our other positions 6b We've got a short strangle here. That's been adjusted. We've got about a thousand dollars in profit since we rolled this We're still we're still a couple hundred dollars away from from up profits overall after adjustment So if we get a little bit of a downside movement in next week, we will close that one out for a profit We've got how many days do we have here 35 days expiration? So we've got some time so just We'll address that next week if this thing continues ripping higher We will potentially add another centered strangle there implied volatility is still decent in in the ball in the British pound Oil big move today at three and a half percent, which is good for us It just moved us right back into center. So we're up about 300 bucks on this trade looking for some more profit before we take that off Yes, we've got this long put vertical. I was I was looking to potentially roll this today But then prices has kept going up. So I'm looking for a potentially a little dip before we roll that hopefully next week GC I mentioned gold Natty gas Natty gas has been on fire to the upside It's kind of piddling around down here and then just started ripping higher But we're still just kind of got us back into center as well here. So we've got these two different pieces now We're down to 24 days to expiration. So we'll be looking to roll both of these out to the next cycle next week We'll do it one at a time So we'll probably do one of these on Monday will roll out and then we'll wait a little bit Let price move around let time pass a little bit and then we'll roll the other one And we'll you know, unless this thing just rips higher will probably be pretty close to at least 50% or more of max profit So it'll make sense to do that anyway. So look for that next week. I Mentioned ZB ZW Apple Apple's up almost 3% today and moved out of our range We'll be looking to roll or close that one next week DE John Deere still within range here. So just looking for a little bit more downside to benefit that. I Think I mentioned DIA. Yeah, I mentioned DIA. I mentioned IWM QQQ Price has moved at a range of those verticals as well So we'll look to address at least one of those next week. And you know, we're still at that I look at this shaded area. That's the one standard deviation move So there's still a decent chance price could come back into range here So we don't want to make too quick of a quick of an adjustment, but we'll look to address those next week SMH up almost 2% today It's moved you can see it's moved past that break-even point But if we look at our puts, we still have a decent amount of premium Left in those puts so we're not looking to roll up those puts yet And we're not looking to add to this because implied volatility is just Putrid IV percentile of two IV rank of four So we're not looking to add to this at that point just going to manage the current one that we have SPY we've got an iron condor in SPY because the price is kind of hanging out here in the upper end of the range So just holding on to that for now. I mentioned XLK and then I mentioned XRT We've got this one where we're just waiting for a little bit more profit before we do anything there So those are all the trades. Those are all the positions. Hope everybody has a great weekend We'll talk to you next week