 Hey everyone, welcome to this weekend's video update. Actually recording this on Saturday, December 26th, the day after Christmas. So sorry for the little delay getting this out. Hope everyone had a fantastic holiday and a short week. Looking forward to getting back into it next week. Just a quick look at the markets, taking a look at the S&P. Obviously Monday we had that early flush lower. Thought we were gonna actually see some red for the holiday week and bounced all the way back up and then traded kind of flat sideways to hire the rest of the week, which is pretty normal for a week. Leading up to a holiday is kind of flat to hire. So no real action the rest of the week. The only thing that we did see some action on was Alibaba, where you can see on Friday, Baba was down over 13%. And it was actually down a lot more than that rebounded. Paired back about half of its loss from the open, but still down over 13% with some potential allegations of monopoly coming from the Chinese government. So we'll see how that plays out, but nice spike in implied volatility. So puts that symbol in play. So look for some action, some potential new trades in Alibaba next week, potentially iron ducks or selling some premium. We'll have to take a look at it on Monday to see where things kind of shake out. But before we jump into the alerts, let's take a look at day trading. We only day traded one day last week and that was on Wednesday. Had a nice day, had on the Mighty 90, pulled $605 out. Four out of five were winners. Did take a sizable loss in Tesla, but nice winners in Roku, Peton, Win and Beyond. Didn't do any pairs trades. And then on the runner strategy, had four trades, two winners, two losers for net of 300. So plus 905 on the week for the day trading. If we jump into the alerts, let's take a look obviously a shortened week. So less alerts than normal. First trade was on Monday in SMH. We have this short strangle that we've been adjusting for several cycles. And in this case, we rolled this from January to February and adjusted our strikes. And we basically were inverted on this. But what happened is we got assigned on our short calls. And so we had two contracts. So we got assigned 200 short shares of SMH. So when that happens, which it does from time to time, we simply just close that piece out. And in this case, we just rolled it just like we normally would out to February. So let's take a look at SMH. And essentially we just, when this happens we just kind of reset it up as a normal strangle. And so that's where we're at. And so we're already up about 281 bucks since Monday, since that roll, since that adjustment. And so we'll just continue to manage this as we normally do with our short strangle strategies. Next trade, Tesla opening trade. We did an iron duck in Tesla. Did this one with 18 days to expiration. So if we take a look at Tesla, you can see prices still hanging out pretty close where we put it in the beak here. So we've still got a decent chance we could get back to the max profit area. If this Tesla just continues to rip higher, like it's known to do, we'll book beak profit which in this case is about 120 bucks. Next trade, SPX. This is an expiration trade. We had an iron duck in SPX. We just went ahead and let this one expire and booked beak profit on the trade. We also opened an iron duck in SPX. Did this one with 15 days to expiration. So let's take a look at our SPX positions. We've got a couple of them here. So this is the one from the alert that we just put on, a new iron duck. And you can see if we put our price slice to right here at the edge of the beak, change our calendar to the expiration date which in this case is January 7th. You can see we still have a decent chance that we could get back to max profit. But again, if this market continues to rip higher, we will potentially book beak profit. The other one that we have on is with the expiration cycle of 1231. And you can see this has run up since we did it but still a chance that it could get back. If we take this down to 1231, if we put this on the edge of the beak, you can see we only got about a 12% chance that this could get back to max profit. So if price stays right here or goes higher, we'll probably just close this one out early. There's no reason to wait all the way until expiration, free up the capital and redeploy that capital on other trades. Next trade, Baidu, a weekly double calendar. So Baidu has been in play with some big move to the upside and an expansion in implied volatility. Baidu came out and announced that they were going to get into the electric vehicle space. And so Wall Street liked it, shot up, price of the stock shot up as well as implied volatility. We had a weekly double calendar on, closed it out and booked a small profit on that trade. Let's just go ahead and go to Baidu right now. We've also got an iron condor in there. Price is pretty well centered. Even after we put this on implied volatility spiked even more. So we were actually, even though it was still well within range, we were down a little bit. Now we're back to about break even on the trade. But if we take a look at a chart of Baidu, here's what I was saying. We had this massive spike in price and a massive spike in implied volatility. And now things have just kind of settled down, which is what we want for an iron condor. So hopefully this thing will stay in a range, long enough for us to book a profit. And we'll target typically, just like we typically do on our iron condors, 30 to 40% of max profit. If we continue to see some contraction in implied volatility and price stays in a decent range, we should be able to book some profits in Baidu. Next trade, Tesla. So this is a weekly double calendar that we also had in Tesla. This one was a little bit frustrating because we had a pretty decent profit in this and then woke up the next day and implied volatility has absolutely collapsed and primarily collapsed in our back week options, which remember on a double calendar, we are selling the front week and we are buying the back week. So we want the back week to actually stay bid when we want the front week to contract quicker. But if we take a look at Tesla, look at what happened to implied volatility. It just absolutely collapsed. And specifically this week right here, it was up at beginning of the week, still around 50 and now I'd be percentiles at 13. So just a major collapse. If we look at the, if we look at the, well, the front week is gone now because the trade has already expired. But what happened is, if we're looking at this as the back week, this is the front week. This one actually absolutely collapsed which caused us to take, ended up taking a small loss on the trade. But we, you know, it wasn't much. I think it was a less than $200 loss. But unfortunately we did have a profit that could have been taken, but you just can't predict that. You can't predict that kind of implied volatility move, especially when you're trading a double calendar like this. So unfortunately it took a little loss on that one. And then lastly, of course last week we did our vertigo class. So we opened up our first vertigo, this one in SPY. And I really, I did this intentionally in SPY which is smaller than SPX because I just wanted to show you and I want you guys to kind of get your feet wet. I don't want you to go all in and get big on this strategy because you need to learn the nuances. We need to learn to watch it move. So you can see if we reset our price slices to break even you can see we've got about, let's move this to expiration. We still got about a little less than about a 78% chance that price will move out of this little valley which is what we want between now and expiration and we'll close this out with either one date expiration we'll hold it as late as expiration day but we'd like to be out of it quicker but if we get just a decent size move you can see this gray shaded area is the expected move between now and expiration. So it definitely doesn't even have to go that far. It can still stay well within the expected move and we'll book a profit. So if you watch kind of the P&L line move towards expiration you can kind of see how it squeezes in and gives you a chance to book that profit quick. So hopefully we can book a profit on our first vertigo. That was our last alert while we're sitting here on SPY. Let's take a look at, we've also got an iron condor that is ready to be taken off. So just wanted to give it over the holiday weekend. See if we can get a little bit more theta decay and then we will book this on Monday. Other trades we've got in the ES we've got some of our short Delta plays which is a long put vertical here. You can see prices out of range. We need a little bit move lower to get back into range. Natty gas is doing well here. We're up about $1,400 since we did our last adjustment on this short strangle that we've been adjusting and managing over several cycles. In bonds, kind of a similar to Natty gas on this one we're up about $1,200 since our last adjustment. As long as price doesn't make a quick move lower and obviously if it makes a move higher that's even better back to center. We'll be taking this trade off this cycle and booking a profit after managing this one for several cycles. Apple another short Delta play this is another long put vertical similar to ES this one's just outside of range need some downside action to get back in there. I mentioned Baidu, John Deere. We've got this short call vertical kind of a similar situation just outside of range we need that to move back into range to benefit that trade. DIA we've got a short call vertical this one is right inside range here but looking for some more downside action to benefit that. And where we're at on our short Delta versus our Theta is we're a little bit less than one to one. So we can certainly add some short Delta if this market continues to rip higher. I can see DIA has been pretty flat over the last few weeks. I still anticipate that we're gonna see higher prices in the market. So that's why we have not been loading up on short Delta we're still keeping a little bit in case this thing does roll over to the downside. But I anticipate we're gonna get some new all-time highs into the new year and then from there we will reevaluate. But if this thing does explode higher we will start to add in some additional short Delta to give us some protection to the downside. IWM kind of a similar situation we've got a long put vertical looking for some downside on that one and same in the QQQs. This one's right on the break-even point just holding that for some short Delta. SMH I mentioned that one has that short strangle that we've adjusted. SPX, let's see I think I already went over SPX. Yeah, we've got those two iron ducks. I went over SPY, Tesla, we've got an iron duck. I mentioned that one. And lastly XLK, another short Delta position. So it seems like we got a lot of short Delta positions on but these are just in several symbols, very small. We just like to spread it out between different symbols. And so we're just gonna continue to hold those for short Delta and continue to add and book new trades, new weekly double calendars, new iron ducks and some new vertigo. So we'll continue to add those. We'll also potentially start adding in some more directional plays. If we do get a little pullback in the market I wouldn't mind jumping into some bullish verticals and some other strategies like that to take advantage of some potential higher prices that way. So that is the plan my friends for next week. Everybody have a fantastic rest of your weekend and we'll be live streaming in the day trade room in Discord on Monday morning. So look forward to seeing you there. Everybody have a great one. Talk to you soon.