 What's up navigation traders welcome to this week's video update today is Friday May 10th Exciting week of trading this week implied volatility has improved significantly We're gonna review all the trades. This is exclusively for our pro members. Let's uh before we jump into the alerts Let's go to the community and talk about who got caught being hot This week goes to our man Barat Barat's been a member for a long time Couple years almost since the since the beginning of navigation trading So it's been awesome to see him this week jump into the community and start sharing trade ideas Answering questions and all that good stuff. So congrats Barat. You got caught being hot All right, let's jump into the alerts for the week starting on Monday the 6th had quite a bit alerts this week We were really busy with the implied volatility popping the market going down This is just the best time to trade when when things are actually happening as opposed to a Slow grind hire that we've been seeing most of the year. So Good stuff. Hopefully more good stuff to come Let's take a look starting Monday. The first alert was in DIA so we added an iron condor in DIA in the June cycle with 46 days to expiration at that point Premium popped up the IV percentile was at 65 at that point Of course it went even higher So in hindsight it would have been even better to wait, but we don't trade in hindsight. We trade in reality So here's where it at. Here's where we're at. You can see IV percentile Got as high as 73 excuse me got as high as 80 now come down a little bit today down to 73 So we put on another iron condor so you can see we're still fairly centered But we're down a little bit just because implied volatility has gone up since we put that on But just holding that waiting for some time to pass And uh, you know seeing if we can get some range bound trading in the price of the stock And so that's what we're looking at in DIA Next trade was a closing trade in spx. So we had a calendar spread on when implied volatility is really low IV spiked up to 70 price came down centered and we booked over 25 Profit on that trade so good trade in spx Next trade was a closing adjusting trade in DIA. So at this point we still had on A short call vertical in the May cycle When price came down we were able to get back into range Closed out that remaining short call vertical and then of course we're still holding that iron condor that I just showed you Next trade rolling adjusting trade in spy. So we had a short call vertical on from a previous iron condor We went ahead and rolled that out from May to June We kept the exact same strikes and just wanted to extend duration and keep that short delta exposure In our portfolio. So let's take a look at spy It's come down even more since then So just just holding this waiting for some more downside potentially and to keep that short delta exposure By the way, we were literally at the top end of our range of where we like to be with short delta to theta exposure Kind of that range we like to be in is that one to one up to about five to one In short delta versus our theta and we're we're near that five to one. In fact went over it a little bit I think it was last week early last week And then and now with this huge down move. This is how quickly things can change Now we are about one and a half to one. So really close to our the lower end of that range. So That obviously benefited our portfolio with that down move that we've seen this week And but now we're we're we're back to kind of a normal range We you know, ideally we like to be in that kind of two to three to one Two to one or three to one We're about one to one right now But still still in good shape. So that's where we're at there Next trade was a rolling adjusting trade in natty gas So we've got two different short strangles on two different pieces to this trade in nat gas We went ahead and rolled one of them from june Which was at 22 days to expiration rolled that out to the 50 day cycle And we adjusted our calls down from 2.8 to 2.7 kept our put at the three strike And so let's take a look at that one And that's going to be our uh 2.73 in uh in the june cycle And so that's what this one looks like here nat gas has come up this week So since we've did that roll price was right here now It's up here. So we've made some profit since that roll earlier this week So that's looking good And then the other piece that we still have in nat gas is in the other uh in the previous cycle And you can see price is still right here just a little bit out of our range Now we are down to 18 days to expiration. So we're under that 21 So looking for a point to roll all i'm waiting for is i was hoping which did happen Hoping for a little up movement to get back into range. And and so we're going to wait to we'll probably do this on monday Hoping to get a little bit of a pop To get back into range here before our roll, but even if we don't get back up We're going to go ahead and roll this anyway, and we'll just roll that out to the same cycle And keep that keep that trade going. So that's where we're at in natty gas Next trade was a opening trade in zb So we've been out of notes out of bonds for a while because implied volatility has been low But iv percentile popped its head up in tlt and so we sold some premium in zb As i mentioned, you could look at short strangles iron condors In in the notes the bonds tlt the etf any of those is fine We just opted for zb this time because i like the leverage that it provides You can see we're still pretty centered pretty close to where we put it on Not much profit. So we're just playing the waiting game in zb Next trade opening trade in fxi. So again, just trying to sell some a little bit of premium each day With this new implied volatility heightened that we've that we're seeing So we did this in fxi. Obviously a lot of this heightened Implied volatility is due to the trade wars between the us and china And so fxi is the chinese large cap and so seeing a nice pop in iv there So we sold an iron condor in fxi If we take a look at that still fairly centered Not much profit there. So just waiting for a little bit more time to pass some theta 2 decay You can see implied volatility really spiked in fxi And so hopefully that's a A good trade once kind once things kind of settle down Next trade was a rolling adjusting trade in es So we've had this long put vertical on that we're holding for that short delta exposure Got down to may with nine days So we're just looking for a point to roll with the down movement coming back into range Made sense to do so we kept the exact same strikes And it's gone down even further since we've made the roll So if we take a look at that You can see this is where we're at. This is where price is right here So again, just holding this for that short delta exposure Next trade was a rolling adjusting trade. This was yesterday on thursday We did this in intel. So we had a short strangle on that we put on after earnings And because implied volatility was still heightened With the rest of the market price moved down So we needed to roll down our calls We still we stayed in the same cycle because we still have 43 days left So we're not rolling out to july all we're doing is rolling our calls down from 55 to 49 And so if we take a look at intel Here's where we're at. So we rolled those down now price has gone down a little bit more but Remember after if it goes through the break even after we've adjusted that's not a trigger to adjust again We're simply looking at the value in those calls And you can see there's still plenty of premium in those calls. So we're just holding steady for now We need a little bit of a bounce higher in intel to benefit that trade And you can see with the rest of the market. It's kind of flushed down to the bottom So if we get a little bit of a pop higher, we'll be in good shape there Next trade was a closing adjusting trade in iWM So we had a call vertical from a previous iron condor and that was still in may So with this down moving price came back in a range Booked a nice profit on our may iron condor overall and then we're still just holding our full iron condor in june So if we take a look at iWM And it it didn't get hit as hard as some of the other indices like the spx The dow that the nasdaq it's it's actually held a little bit stronger the small caps have So if we look here still pretty pretty well centered in our iWM iron condor With the heightened applied volatility you can see we're down slightly on that trade just because the Price of the options has risen It's still in great shape there. So just waiting for some time to pass Next trade a rolling adjusting trade in eem. So we have this Short call vertical in eem And we uh again We just kept it in the same cycle because we've got a lot of time left And all we were doing is rolling the spread down And so if we take a look at that uh eem I can see it's it's actually popped up a little higher since we did that roll But we're still well within range And just looking for a little bit more downside before we do anything in eem We're pretty close to break even on this trade. I think we're down slightly Probably about what we're showing here. Maybe a little over a hundred dollars So just need some downside to benefit that Next trade was an opening trade in vxx And so this is just like we teach in the course about the vix Where if the vix spikes, which typically means stocks are going down Then we can sell a call vertical on vxx. Remember vxx is inversely correlated to stocks And so what you're going to see Is when stocks go down vxx goes up when stocks go up vxx goes down And and the reason we like to do the short call vertical on this is because a lot of times it's got that downward drag on it Because it's using futures contracts and continually rolling. So it's got an Automatic downward drag if you look over time, it's always going to be kind of dragging down now in periods where Plaid volatility spikes You can see that big spike up and then it's going to contract down And so that's what we're trying to take advantage of And in fact, so we put it on uh yesterday on the 9th This is where we entered and we already took it off today And booked over 40 percent of max profit in uh, you know, just a couple days here just overnight So good trade there. So we are out of that A later alert here shows the exit. So we went ahead and booked that one Next trade was a closing adjusting trade in smh. So we closed one set of our short strangles in smh um, and so With the down movement price that one came back. We were well over 50 percent on that piece of it And so we went ahead and just closed that reduced our exposure overall to smh And with ivy high we'll look to potentially add to this one again If if uh, if it warrants it but we're still holding this other piece Which is this slightly inverted Strangle, uh, but it's dead centered. I got a decent amount of profit back in that one since we've rolled And we'll just continue to hold this one if price kind of goes out and gets near one of our break evens We may look to add another centered strangle around that depending on where implied volatility is And what our other positions are doing, but that's where we're at in smh Next trade opening trade in xbi. So today we're just looking to sell some more premium xbi was a good choice here IV percentile jumped up to 79 And so we just sold an iron condor kind of a tighter iron condor because X bi is a lower price symbol. It's under hundred dollars So you don't necessarily want to go or need to go out to that 20 delta You want to kind of squeeze that in to get enough credit to make it worthwhile? Uh, and so you can see price is still just dead centered pretty pretty close to where we put it on In xbi if we look at a chart of xbi you see ivy percentile popping up here So just selling some premium to take advantage of that higher priced option scenario Next trade rolling adjusting trade in qqq So we had two sets of short call verticals that were originally part of our iron condor trade And we've rolled through a couple cycles just to keep that short delta exposure In this case, uh, we're still in may for both of these So I wanted to roll one this week and then we'll roll another one next week We've got seven days as of today friday We've got seven days left to expiration So we rolled this one out to june and then we've moved our strikes down a little bit to compensate for price And so we just are extending duration and keeping that short delta exposure. Let's take a look at qqq So we've got these two pieces here one of which is the one we just rolled This is the one in june so you can see prices right here So just looking for some more downside to benefit that And then the one that we've still got in may Has come back into range nicely. These were way out of range here and they've come all the way back in And so just we're gonna we're just we just want to spread out these rolls. So we're not doing it all in one day We're letting price move around time move around And kind of spread these out. So we'll roll this one next week since next week is expiration week Next trade rolling adjusting trade in xlk. So another another one of these where we're we were in june and we just uh You know had well over 50 percent of our max profits So just to kind of keep that profit line a little bit steeper We went ahead and just rolled these to get our we just rolled our strikes down From 84 79 down to 80 75 and that keeps that short delta exposure in our portfolio In xlk. So if we take a look at that It's actually price has gone up a little bit since we did the roll So but just looking for a little bit more downside to benefit that trade And Let's see we got a couple more here a lot of trades this more more alerts this week than normal And that's that's kind of that's pretty typical when you have a lot of motion going on You're making you want to open trades when applied volatility is high you're getting some prices come back So you're being able to close out some for profits and then and then of course the adjustments that are necessary In this case, this was a closing trade in xlv. So we had an iron condor on here booked over 40 of max profit price came down nice and re-centered On our xlv trade if we take a look at the chart See the nice down movement this week and so came back into center and we were at over 40 of max profit So we went ahead and booked it And then lastly I already mentioned this this was the vxx closing trade where we booked over 40 of max profit just You know we entered it yesterday took it off today 40% as I mentioned we originally had a profit target of about 50 of max But when you get it that quick take the money and run So that's what we did So those are all the alerts. Let's take a look at some of the other positions here starting with oil Nice down movement in oil as well this week, which has helped our position. So we've got two different pieces here We've got our Let's see actually I think it's this one. I think I've got these strikes, right the 50 60 and a half No, no, no, that's not right. It's this one So we've got the 53 60 and a half and and so you can see prices come back Gotten some profit back there if we get back to center if we get down to like 58 57 or 58 we'll be back to the point of Close to break even on our oil trade overall after that massive move that we've been Working our way out of so that's where we're out on that piece and then the other one Right here Same story need a little bit of downside But getting back to a point Of almost profitability if we if we we're down about a couple thousand But as you can see just a few dollar move down. We'll get us back to that point. So Getting close there just staying mechanical as always. I mentioned es. I mentioned net gas. I mentioned bonds wheat Okay, so we've got two pieces here one is a short put vertical So price came down on our iron condor Broke through our break even so we closed out the untested side prices continue to move lower Uh earlier this week yesterday actually prices coming back I thought it was gonna make a move back in a range, but now it slid back down today down about a percent and a half We've got how much time do we have left 14 days? So within the next couple weeks We will be making a move here. We'll either roll or just close this one out And then we've got this other piece here, which is a full iron condor And you can see we got a little bit of profit, but could also use a little bit of up movement there I actually tried to get out of this for about a 40 percent profit, but I never got filled it wasn't quite there And uh, and then it came came back down a little bit. So hopefully next week we get a little bit of a pop higher We'll we'll be able to book this one and uh, and it'll help our other piece as well Apple so a couple a couple thorns in our side or apple and facebook And I got I got several questions about both apple and facebook this week You know, they're saying oh my god, you know stocks are breaking down. Should we get out of this? Should we get out of this? Well, no, I mean we're going to let the probabilities play out and the fact is we had those on to help balance our overall Short delta to theta ratio. So those are long delta plays and so those were Helping us balance those the fact that they went against us Means the rest of the a lot of the rest of the portfolio went in our favor. So net net It's uh, you know been a very profitable week Uh, but apple here you can see I'm just I'm going to see if we can get a little bit of a bounce into next week And we might just close that out or we may continue to roll it We'll see what happens We put this on uh after you know, they had earnings went up above the expected move We got a profit a quick profit there and then we tried to re-enter Thinking it was gonna, you know another continuation of the upside but that's when uh, the trade war talk Came out and and made the price go down And so now we're just holding it. Uh, but we've got this is in may. We've got, you know, seven days So we're gonna do something with it next week. Well depending on where we're at in our overall portfolio We'll either roll or just close it for a loss. We'll see what happens Uh, di a I mentioned that one e em I mentioned facebook pretty similar situation here Where prices come down? We need some upside movement in facebook to get back into range there And this was a very similar trade. We were just looking for a continuation to the upside But then price kind of fell down So we'll see what happens next week and we'll deal with that then I mentioned fxi I mentioned intel i w m i y r This is the real estate etf The real estate's held up quite a bit better than other stocks here. So Um, didn't get hit as hard on the downside and we've got this iron condor here And so we're just waiting for some more time to pass Before we do anything there kre who put the short strangle on it's still fairly centered here No profit or loss just waiting for some more time to pass in that one Nvidia we've got this short call vertical on got uh got more than 50 of max profit here But I just wanted to give this one over the weekend to see if we get a little bit more downside Or what's going to happen in Nvidia? We're still down slightly on this trade overall after adjustments They announced earnings on 516. So that's next week And so we'll be we'll be doing something we may I mean we may consider holding it through Through earnings. We'll just see where everything's at with the rest of our portfolio Um, you know if it if it does make a sharp move lower into next week We'll probably just close it out and we'll end up taking a small loss overall If it moves higher we may consider rolling Going through earnings what we'll just have to see where our deltas are with the rest of the portfolio as well QQQ I mentioned that smh I mentioned spy wall mart. We've got a pre earnings long call here that we're Close to taking off at one point and then and then price fell down. It's coming up today It's up over a percent today Walmart announced his earnings on 516 before the market. So we want to be out of this one by 515 And so if we can get a quick pop higher next week, we might just scratch this trade if we get back up to about the 103 level Uh, but we'll see what happens Yeah, we need to get up to about right here to scratch that trade But we'll see what happens might end up taking a loss on it or who knows could explode higher never know Uh xbi I mentioned xlk I mentioned and then lastly xrt the retail etf We've got a short strangle on here After all adjustments were up a couple hundred bucks on this trade Just waiting for a little bit more downside a little bit more theta decay before we jump out of this one for a profit Hopefully it doesn't shoot higher on us But uh, that's where we're at on xrt and we'll play it as needed if implied volatility does stay high And it gets close to our break even we may look to add to that centered around, uh, wherever price is at that point But we'll see what happens in xrt. So That's all the alerts. Those are all the positions. Hope everybody has a great weekend. We'll talk to you next week