 What's up trade hackers welcome to today's update today is Wednesday, March 11th So what is happening in the markets today? Another wild ride? S&Ps down 128 Dow down over 1300 Nasdaq down over 300 Russell down almost 80 looking at a chart of the S&Ps here I mean just just the size of these bars is it just continues to be crazy And so a couple things in the news today Obviously the World Health Organization came out and officially I'm giving air quotes here if you can't see me Officially said the coronavirus is a worldwide pandemic as if we didn't know that at this point But what does that really mean? Well, just it just means that Countries are on even more heightened Alert where they're you know, I mean all these conferences are getting shut down some cities and towns are kind of out on lockdown And so, you know, that's what's driving this price action. Obviously with a situation like that where people aren't gathering They're not traveling Revenues are gonna be down Ford profits are going to be down and so that's what the market is reacting to Obviously in addition we're still in this situation with oil where OPEC is now Meeting Wilson lobbyists are going and trying to get this thing solidified But oil still down a little bit today Obviously nowhere in comparison to the drop that we saw Sunday evening into Monday But so it has rebounded a little bit since then so we do have oil positions on and we're just we're being really patient with this We don't want to get caught in a whiplash situation And so we're just kind of being a little bit patient with any adjustments the same thing with bonds bonds actually pretty flat today They were up a little bit now. They're coming back down and so what's interesting about that is, you know Typically when you're seeing a big sell-off like this in stocks where the market's down four or five percent You're gonna see bonds going higher But that was not the case today and same thing with gold You know a lot of people think that there's a very large Inverse correlation to gold in the market so when the market's going up gold's going down and vice versa That's actually not the case gold is fairly uncorrelated to the markets And we're seeing that today where the the markets are down and gold is also down Whereas, you know, sometimes we'll see the market down and gold is firing to the upside Well today's markets down and gold is down as well So some interesting price action Across the board want to take a look at some of the stocks here I've set my chart up to show year-to-date. So you see instead of the price on the right-hand column here You're seeing percentages. So for example gold year-to-date is up 6.81% but I want to take a look at some of the individual stocks starting with Apple Everyone's favorite stock Apple down just 8.3% So Apple has actually held up much better than a lot of other stocks for example Boeing which first initially had that issue with their Max being grounded and then some continued news releases about today They came out and said they're cutting their workforce as well as freezing all-new hires and anyway, you look at Boeing It's down 43% year-to-date If you look at Bank of America as a metric for the banks down 36% if we look at booking a big travel company down 30% Costco holding up really well still up 2% on the year even though they're out of toilet paper and water supposedly Some of these others that I was looking at if we look at like Delta Airlines DAL obviously the airlines getting hit wrong ticker DAL Delta Airlines down 27% Some of these casinos if we look at win down 10% today down over 43% year-to-date Walmart, you know, it's holding up relatively well only down about less than 4% so oh united health care After you know that super Tuesday excuse me down just 5% so holding up pretty well in the health care sector And if you look at stocks like Tesla for example, which had that huge run up really uncorrelated to the rest of the market And then it has come down obviously since then but still up 47% on the year So Tesla one of the big performers to the upside But like uber and Lyft really getting hit recently, but only down 15% on the year So interesting stuff. So game plan going forward for us We've been very quiet as far as new trades this week Just waiting for things to shake out just a bit if we get another push lower tomorrow We'll definitely start adding some more short premium with him with implied volatility Just through the roof getting some massive credits when we're selling premium both Delta Neutral Strategies and Iron Ducks all we've really been doing this week is continuing to roll down our short Delta So rolling down our strikes rolling down our strikes rolling down our strikes We haven't really added much of anything and so that's that's what we've kind of done to this point through Wednesday but tomorrow I think we're gonna start dipping our toes back in and Potentially adding some new positions. So look for that. Everybody have a nice evening. We'll talk to you tomorrow You