 What's up navigation traders welcome to this week's video update today's Friday May 17th This is our video review of all of our trades and alerts From the week before we jump into the alerts. Let's check out the community and talk about who got caught being hot this week We recognize one member of the trade hacker community for helping other traders This week we're recognizing a very new trader who's really just trying to figure it out asking a ton of great questions And I love this and I this is why I think it's helping other traders is because For every time that a new trader asks a question There's probably 10 or 20 others sitting there behind the scenes that don't ask the question because they don't want to feel stupid They don't want to feel like it's a dumb question But the reality is every question that somebody asked probably helps other traders as well So our member who goes by the name HB has been asking a ton of great questions Just really trying to figure this stuff out. We all remember what it was like when we first started trading It's kind of like drinking out of a fire hose. So Congrats to HB keep up the good work. You got caught being hot All right, let's go over to our membership area and check out the alerts from the week starting with Monday the 13th our first trade alert was a rolling adjusting trade that we did in NG Nat gas and we just rolled one of our sets of short strangles from June with 15 days to expiration Over to July with 43 days kept the strikes exactly the same our other piece had already been rolled So this was our Remaining short strangle that we just wanted to get over we're down under that 21 days to expiration We gave it a little bit more time because we were hoping it traded higher which it did So made made for a better roll So anyway, let's go let's go to the platform and take a look at Natty gas to start with So here it is remember we've got both of our put strikes at the three just because let me remind you why we did that So if we go to the strikes when you go deep in the money, you know, you start getting a little bit of a sparse Open interest in some of these deeper in the money So when we're when we're that far out, you know, the three was kind of the one with the most right around it Was was pretty sparse. So we wanted to we just stuck with the three on both of our pieces So you can see there's two contracts on three put and then on the call side, we've got 2.7 2.75 Which are pretty close as well. So we just kind of look at this as a combined position even though we're managing each piece separately So what we're looking at is we just need a little bit more up movement in Natty gas to benefit this position And we'll just continue to stay mechanical with that one Next trade opening trade and EWZ so implied volatility popping higher IV percentile at 65 at this point So just selling some premium in another diversified underlying this time in Brazil We did this in the June cycle with 39 days to expiration. So if we take a look at EWZ You can see we've got a little bit of profit since we put this on not much Just waiting for some more time to pass some more theta to the K and EWZ before we do anything Next trade rolling adjusting trade in Nvidia. So we had a short call vertical on in Nvidia We got a nice down movement in our favor. So we were well over 50% of max profit So we just needed to roll these strikes closer So we stayed in the same June cycle and just simply adjusted our strikes from 190 200 down to 165 175 and I mentioned here that Nvidia announced earnings and they did that after the market Closed yesterday on Thursday evening. And so we just held through earnings and so let's take a look at where we're at in Nvidia It's up slightly 0.62% today after the earnings announcement. So pretty Pretty non-event from an earnings standpoint We're up a little bit on the trade since we've done this role Just looking for a little bit more downside to benefit this trade after the couple adjustments. We've made We're basically a break even on the trade right now. So if we could get a quick move lower We'll we'll go ahead and book that one And so that's where we're at in Nvidia next trade rolling adjusting trade in the cues so we had a Remaining short call vertical left in the cues that was still in May with just four days to expiration so we went ahead and rolled that out to June and and then and we Adjusted our strikes accordingly And so let's take a look at QQQ. We've got two sets of short call verticals This is the first one here and so you can see price is pretty close to where we rolled that no no profit or loss on that So just holding for some more downside and then on this one It's basically it excuse me. It's barely out of range So just looking for some downside to get back into range for those new members who are trying to figure out What what we're doing here? These were originally part of iron condors and we've continued to keep the short call vertical side on for that short Delta exposure We like to have a short Delta exposure of anywhere from one to one To five to one on our ratio of short Delta to theta and if you're a new member and that sounds kind of confusing We've got some articles on managing our portfolio by Delta in our blog in our courses There's a couple blog posts that are good resources. One is how to manage your portfolio using Delta and the other is how to How to trade options like a professional and both of those kind of talk about the management of Delta versus theta So our theta to Delta short Delta to theta ratio right now is Just under two to one. So we're short Delta is almost twice as much as our theta And I can say we like to be in that one to one to five to one range. So we're in a good spot there So that's where we're at on QQQs Next trade rolling adjusting trade in ZW. So excuse me closing adjusting trade So we closed one set of our iron condors booked over 40% of max profit on that piece of the trade And then we are still holding a Full iron condor here, which actually was a later alert, which I'll mention here when we get to it But pretty dead centered here. Just waiting for some more time to pass in wheat Next trade closing trade in XRT So we had a short strangle on an XRT that we had we'd made several adjustments to Ended up booking a nice profit after those adjustments. So we were out of XRT at that point And you'll see later on here. We'll enter a new position on XRT and I'll show that when we get to it Next position closing trade in Apple. So okay, so we had we had a couple different trade two different trades That were pretty similar here back to back with Apple and Facebook So these were long Delta positions that we had put on when our short Delta was getting a little bit too short We put on these long Delta positions one in Apple, which is a Which was a short put vertical and then also a short put vertical in Facebook Well, obviously the big down move in the market went against these long Delta plays and so We ended up getting a sign the stock on those so when that happens typically We're just gonna close that out the other option which I mentioned here Is if you had the capital in your account and you wanted to hold that stock and start selling premium against it You could start selling 30 Delta calls against it and just continue to manage as such But in our case we just closed it out because we don't want we didn't want the long stock in our portfolio That wasn't the original idea. And so we're sticking to the strategy So we ended up taking a loss on Apple ended up taking a loss on Facebook and The interesting thing is here that you want to understand as soon as on the closed trades This is these are gonna show pretty sizable losses But even though we booked these losses our overall portfolio grew this week because we were we had more short Positions on then we did long of course when the markets got slammed down to the downside that smashed our long positions which is part of the deal we call those kind of our sacrificial lambs and they're just Just part of the game. So you're when you have a balanced portfolio with long and short positions sometimes you're hedged or you're You know part of your balance of your portfolio is gonna get hit whereas the other part is going to benefit so that's what happened here and then next trade was a Opening adjusting trade in wheat. That was the iron condor that I just showed you So we're just waiting playing the waiting game there and then this was a closing adjusting trade We had a remaining short put vertical on in wheat. We had a nice move up In price booked a nice profit on that June iron condor overall And so we were out of that piece But we're still in just this one iron condor in wheat that I already showed you on the analyze tab Next trade was a closing trade in Walmart. So we had a we had a pre earnings long call in Walmart I'll just take you to the chart Show you that and we put this on hoping for an expansion in implied volatility leading up to earnings Which we did get you can see implied volatility expanded But when we put this on here, I think we put it on It goes back in this air now It was actually in this area here and then Walmart dropped and they just kind of traded sideways We almost got out right here for a small profit to break heat. Excuse me. That was after earnings right here for a small profit or break even But we're we were gonna look for just a little bit of a pop higher the next day Unfortunately, I went down never had a chance to get out of this for a profit So we wanted to close that before the earnings announcement and we did so and just took a loss on that trade Next trade was an opening trade in XRT. So we were just we're just looking to add a little bit of short Delta into our portfolio In this case, we just bought a put We don't do a lot of buying options unless it's kind of like a pre earnings Call or something like that But in this case, we just wanted to add some short Delta exposure and buying a put made sense So if we take a look at XRT So what we're looking at here is we just had you know anytime you have a like a big push to one direction And then just a little bit of consolidation or a little bit of a bounce We'd like to see a potential continuation to in that direction So that's what we're looking for here is just a continuation to the downside So we just simply bought a put you can see we've got a little bit of profit here But just looking for a little bit of downside to benefit that The other option is you could have traded a short call vertical spread or a long put vertical spread Both of those would have been decent options But we're just look at we're just doing different strategies in our portfolio To just kind of diversify strategies as well as symbols as well as time and everything that we teach in our courses And Lastly, we did an opening trade this morning today on Friday in XLV Ivy percentile at that 60 level. So just wanted to sell some more premium Looked at short strangles, but the capital requirement per contract was a little bit high This is kind of one of those borderline prices where it's kind of in the 80s 90s where You know, you're using a lot of capital for a short strangle But it's not quite big enough for a traditional iron condor So what we did is we traded an iron condor and just kind of pinched in those short strikes to make it a little bit tighter So if we look at XLV, I'll show you what I mean So instead of instead of going, you know the way we teach in the course our traditional 20 delta iron condor We squeeze that up to the 40 deltas or in this case Well, when we put it on is about 30 and 30 that's about 40 and 26 But we just basically made those short calls short strikes closer to the current price So that we collected enough credit to make that worthwhile So you can see what it looks like here See prices moved up a little bit on us since we put this on But just waiting for for time to pass and some theta to decay in XLV So that's where we're at worth all the trade alerts from the week Let's take a look at some of the other positions starting with oil So we've got two different pieces on in oil Let's see This is our first one here So just looking for some downside to benefit that and then this one here looking for some downside To benefit that so just looking for a little bit of downside and oil and we'd be you know If we do get it a little bit, you know down to like 60 or 59, you know We're gonna be basically back to even on this trade Of course if if oil continues and rips higher We'll just roll up the untested side as we do and continue to manage as we teach mechanically ES is the next position. We've been holding this for some of that to add some of that short delta exposure This is a long put vertical because the price is still well within range here Just waiting for some downside to benefit that piece. I Mentioned Natty gas in bonds ZB. We've got a short strangle got some profit there Not quite enough to take off yet, but just waiting for some more time to pass in the ZB. I mentioned wheat DIA we've got an iron condor and DIA got some profit there not quite enough to take off yet So just play in the waiting game in DIA Eem we've got this short call vertical spread on here We're we are slightly positive on this trade overall after adjustments But I'd like to just hold this over the weekend See if we can get a little bit of a down movement in next week, and then we just take that off for profit EWZ I mentioned that one FXI we've got this kind of a tight iron condor similar similar to XLV Price is hanging out right here got a little bit of profit not quite enough to take off yet So just holding on that one Intel this one had busted out of our range after we put this on So we we put this on after the earnings announcement because implied volatility stayed fairly elevated price traded sideways for a little bit and then then Dropped this week with the rest of the market and that's kind of consolidating again. So we really need a little bit of a pop higher In intel to get back into range We've still got some decent premium in the calls So we're not looking to roll down those calls yet or make any adjustments. We're in June We've got plenty of time in June. We've got 35 days to expiration So not looking not looking to roll out to July just in holding pattern in Intel at this point IWM we've got an iron condor. We've got some profit in that one not enough to take off yet So holding on that IYR the real estate ETF. We've got kind of a tight iron condor here. So just looking for a little bit of downside movement to benefit that KRE we've got a short strangle here Price came all the way down. It did breach our short strike But there is still enough premium left in those calls that we did not make an adjustment and it's come nicely back into range So it could use just a little bit more upside and some more time to pass in kre before we do anything I mentioned Nvidia. I mentioned the cues SMH We've got this adjusted short strangle and SMH Which has come back nicely gotten back some profit in that one We're still down on this trade because we had a second piece on that we ended up taking off So we're still just managing this and we'll probably continue to Manage and roll if price does go close to one of these outside break-even points We'll probably add another centered strangle around that just to add some more credit and And keep that trade going but for now it's pretty pretty well centered. So we're just letting it decay SPY we've got a Short-call vertical spread originally part of an iron condor. We've got some profit since we've managed this one I'll be just waiting for some more downside and we may look to add another iron condor in SPY if implied volatility Stays high into next week XBI biotech ETF. We've got some profit on this iron condor, but just waiting for some more profit before we take that off XLK, which is the technology ETF. We've had this on for that short Delta exposure You can see price is still within range here, but just looking for it a little bit of downside to benefit that I Mention XLV and I mentioned XRT So those are all the alerts. Those are all the positions. Hope everybody has a great weekend. We'll talk to you next week