 Hey everybody, it's Hari Swaminathan from optiontiger.com. We're looking at our swing trades and you can see the futures are down about 23 points. So yesterday's little bounce, whatever it was, was a dead cat bounce as we thought. Now what I want to do here is just go to the ES charts and just review this one month daily chart. So here if you see we have a one year daily chart and you can see that this is the pattern I was looking at and I've made a video about this also. You can see that this is clearly breached this support point. So the next support point is right here and if it breaches that also then there is further downside that is likely. But it's already breached this first support point. You can see that it held once when it came down there but it's gone down again. So clearly the bearish trend is in place now. We are down more than 10% so that is a correction in the markets and so we have to look at our trades that way. So any bullish trades like these calls we have to hedge it right away. So Baba obviously also has been going down and so for today what we are going to do for Friday that is let's go take a look at Baba first. And on Baba what I want to do is I've got this trade here. We want to make this into a diagonal and try to get this premium. So I'm looking at the 14th June and the 157.5. You can see Baba is going to open even lower today. So let's get this premium here. If you look at the trade itself 3.69 and the mark price is 2.21 that might go down a little bit. But once we get this 1.39 which will expire in the 14th June. So if you're looking at 14 days here we're looking at this one and we'll sell the 157.5 and we can get about $1.40 that might change a little bit. But let's convert this to a diagonal and recover this 1.39 on Baba. That's about what we are losing on this trade right now. Okay so Baidu is good. It's a bearish trade and it's going to go down some more. So we'll just keep it as is. Citigroup is going to expire worthless. Now we've already booked 650 and there's a little bit of premium left. This will just expire worthless so Citigroup will actually be a profitable trade for $750. Chipotle we don't do anything. It's a nice iron condor. It's sitting right in the middle there. Costco also we have to hedge and so let's go to Costco and I have a similar diagonal structure here for the 7th June. So what we are looking at is the 7th June because we have only 21 days for the long. I want to get into the 7th June and sell the 245 call. Costco reported didn't report very well. It's going to go down about $3 at the open and now on Costco you want to get into this trade as quick as you can at the market open because you can see the volatilities are somewhat elevated and so you're going to get a good premium but if you give some time for this trade then these premiums will come down and so you don't want to do that and so here we are the 7th June 245 call 245 call 238 and 245 so 7 days I think this is good. Let's pick up you won't be able to get 360 or 375 maybe we can get $3 for it but whatever it is the price it is we want to get into this trade as quick as we can. Then Microsoft is going to expire worthless we are sitting right in the middle and this has become a very nice trade you can see we are up 1120 and then there was I think 200 from before. Microsoft it doesn't look like it's going to hit any of these but this will expire worthless. So now on the spider and if anybody doesn't have the spider you can consider this as a new trade again we are going to double down on the spider. So I am going to go and add 5 more to the spider because markets are going down we need to get a good downside put play going and that we are going to achieve by the spiders. And so now of course you won't be able to get this it will probably be close to $4 but whatever the price is the price is and so you want to get into that. So that's the new trade for today add on to the spiders and then we are going to do our adjustments on Baba as well as Costco. The other two are going to expire worthless we are going to keep Baidu as is. There is not going to be a video in the morning this is the video for Friday May 31st. Thank you.