 What's up navigation traders welcome to holiday edition the weekly video update today's Friday December 27th Obviously, hey, we had a shortened week of trading with December 24th being a half day and then Christmas on the 25th Being closed all together. So fewer alerts by the way Let's see next week on New Year's Day So the markets open New Year's Eve the markets closed on New Year's Day So I'll post in the community just to confirm that early next week But that is the situation. So before we jump into the alerts Let's take a look at the community and see who got caught being hot this week Help me in congratulating Andrew K Andrew's been in the community for just a few weeks But jumped into the fire with both feet answering a lot of questions Adding suggestions just overall providing value to the community, which is what it's all about So thank you Andrew. Congrats. You got caught being hot Let's go to the alerts starting on the 23rd, which is Monday started out with an opening adjusting trade in Gold so basically what we did here is we we opened one and then we closed our Feb position and so essentially it's kind of you you can almost think of it as rolling We don't technically roll iron condors because there are four-legged spreads But we closed that one open another one to extend that duration keep that keep that position going in GC now if we look at GLD, which is the corresponding ETF What you'll see here is that you know at the time we put this on implied volatility actually wasn't as high as it is now But it was kind of like it was the next highest thing on the board You know, we've had high IV in bonds and that gas and that's about it With earnings kind of going by the wayside and not picking up again until the middle of January We don't have a lot of options So we wanted to continue to stay small stay active still continue to sell premium because you Because even if implied volatility is low, there is still a positive expectation An expectation of positive returns We just want to keep our position size smaller because we don't want to get caught in a situation where implied volatility Really goes through the roof and then we you know, we put the position on with low IV So still want to stay active. So we went ahead and re-entered in in gold. So if you take a look at that position Price has gone up a little bit since then so we're just right of center and just playing the waiting game for some more Theta Decay in GC Next trade so we open that one close that one next trade was a rolling adjusting trade in SMH So I talked about this on a video earlier this week And then also there was some posting in the community So if you didn't see that you can go back and check those posts out But basically what happened is overnight this night we got assigned on 200 short shares of stock from our short calls and So what we did is we just bought that back along with bought back the the remaining short puts We're at a point. We're at 25 days to expiration So we were going to be rolling this trade this week anyway And so we just went ahead and close that out and then repositioned our short strangle in the next cycle with in February With 60 days to expiration that hasn't moved much since we did that roll So if we take a look its price is pretty well dead centered here So just playing the waiting game on SMH Next trade opening trade in Shopify. So shop about Shopify has been kind of on fire To the upside if you take a look at the charts here, you know, just a just a really steep move to the upside Shopify If you've ever bought anything online and it wasn't on Amazon There's a really high chance that it probably was through a Shopify platform That's what a lot of these e-commerce companies Companies that sell physical products online. They use Shopify as their platform and obviously with the record holiday sales that we've already seen You know the price of Shopify has just exploded And so which and the other thing that's interesting is you'll see here is even with the price going higher Look what happened to implied volatility implied volatility has continued to expand as well And earnings isn't till way out here around the middle of February so Seeing some explosive move to the upside and an expansion of implied volatility, which is creating an opportunity to Put on some ducks in this case. We did a reverse iron duck in Shopify Price is hanging out right here just inside the duck head. This one expires January 10th So we'll probably wait till closer to that to take that off unless it just continues to explode Hire all the way up into that 430 mark. So if go back to the chart, we've got all the way up to here You know before we before we need to do anything on on that But you know, hopefully just kind of consolidates or potentially pulls back a little bit and just kind of hangs out here And then ends up in the duck head, but we'll see what happens Next trade opening trade in Roku. So Roku's kind of been all over the board as well we did a Regular iron duck in Roku and take a look at chart. I mean, it's just been up and down and up and down up and down and so This is kind of the same thing where price is hanging out right here just inside the duck head Just just the reverse. So this is a regular iron duck where the Shopify was a reverse iron duck So same expiration. We've got till the not next Friday, but the following Friday To to hold on to that. So we'll see what happens in Roku Next trade opening adjusting trade in Natty gas We put this one on today with implied volatility staying nice and high We went ahead and added to our Nat gas position Our previous position is has about 30 some days this one We put on with 60 days to kind of spread out those Durations and so let's take a look at our Natty gas position So here's the one that we had on before This is our inverted strangle that we've been that we've been trading for for a few months and then This one and this one has how many days 32 and then the one we just put on with 60 days to expiration Pretty well centered here. Now. Look at this now. Look at the slope of the profit line That just really speaks, you know, it's really steep over here on the upside and it's really It's a lot flatter If price were to go down and that's just due to the skew and the options on the calls versus the puts Because the price is pretty well centered here and I don't mind that slope here Just because we also have this one which we could use some more upside. So it kind of balances each other is at balances each other out Between the two different positions we have in that gas Next trade opening trade in Ford slash CL so we added a new iron duck with 19 days to expiration in CL. So let's check that out I did get one question in the community Because on this trade we collected. What do we collect here? 61 cents so but remember oil is Whereas in equities we would multiply that times a hundred so that'd be 61 dollars per contract But in oil you multiply that times a thousand. So your credit is actually $610 in in real money. Okay, so you know part of the class said on equity options We typically don't want to collect less than a dollar But that's only on equity options when it comes to future options they're a different animal and you can still collect enough credit to make the trade worthwhile even if you're collecting under a buck and in fact on a on a on a position like oil since the spreads are 0.5 wide as you know half a point wide on our on our call side We're typically never gonna collect dollar. We're gonna collect we're gonna try to collect over 50 cents to create that No risk to the upside So let's take a look at oil and here's what it looks like here at over an 85 percent Probability of profit and prices hanging out right here pretty close to where we put it on in the duck beak Next trade opening trade in Amazon, so we put on a a new reverse iron duck in Amazon Amazon announced that they did I think it was quadruple the amount of Sales On a specific end a specific period then they did the same time last year, which is just nuts So had a big explosion yesterday in price to the upside. We didn't have a position on we just put this one on today and with that explosion it create a little bit of a Juice in those call spreads so we did a reverse iron duck And so you can see prices moved down since we put this on so prices hanging out right here Got a lot of a lot more room to the upside to get into that duck head And we did this with just seven days to expiration so these expire next Friday next Friday's the last trading day so You'll see what happens. Hopefully we can get a little duck head action in Amazon Next trade opening adjusting trade in our friend ZW wheat So we added an iron condor in wheat with 56 days to expiration And we have a another one in the previous cycle, so let's take a look at our wheat position So this is the one that we put on and with 56 days You can see prices hanging out right here, and then the other one that we have on is this one here And you can see prices hanging out near the upper end of the range Wheat had a decent move higher today or the last couple days actually getting us close to that break even point And so what we'll do if we take off just the Just the call side and we take a look at just the untested side You still you see we just got a tiny bit of profit left in those a little bit a little bit of premium left in those So price stays here. It goes a little bit higher in the next week. We're gonna close out that untested side We're gonna close out that put vertical side, and then we'll just keep that remaining Call vertical side on but we're in decent shape I want to give it a little bit a little bit more time over the weekend Of course if price draws back down into center, we'll just keep it and continue to manage as we teach Lastly closing trade in rut so we had a weekly double calendar on in rut Today was the last trading day, so we needed to exit ended a book and a little bit of a profit Rut actually pulled back a little bit for us, which was great I talked about in yesterday's video. I was like, you know, if we can just get a tiny little pull back We can get out of this with a profit and that's what happened So ended up booking a little bit of a profit and and so we are out of that So we'll look to potentially put on another weekly double calendar next week if the environment Weren't doing so. Alright, so those are all the alerts. Let's take a look at some of our other positions starting with yes We've got this long put vertical that we've been holding for the shelf short delta exposure Price is hanging out right inside the range there Mentioned gold. I mentioned that a gas Bonds we've got two pieces on in bonds one Is this 161 straddle? So it was a strangle. We adjusted into a straddle price is hanging out up here If price continues lower And and the juice gets sucked out of these calls then we will roll our calls down On this piece. We've got 28 days to expiration. So even towards the end of next week, we may look to roll that out to march But we'll see what happens and then The other piece that we have on here is another strangle You can see price is hanging out right here. And so just waiting for some more theta to decay on that piece I mentioned wheat apple continues to be strong. It's outside of our range on our Long put vertical that we're holding for short delta Just looking for some downside to benefit that Mention amazon De john deere same kind of story. We've got a short call vertical here price is just outside of our range So looking for some downside in deer DIA we've got two sets of short call verticals One is just at the breakeven just outside our range the one in january which has 21 days And then our feb piece similar situation same position just a different duration. So hanging out right here near our breakeven Fedex, okay. So this one by the time you are watching this, we will have sent out an alert I tried to get filled on this for 99 cents. Remember our call spread is a dollar wide. So that's our beak Um, and so we wanted to get out for under a dollar. So we had an order in at 99 cents didn't get filled So we're just going to let this expire. It's so far out here Toss if you're trading on toss toss does not charge any exercise or assignment fees So you can just let that expire Keep that beak profit and and not pay any commission. So we didn't want to pay up on this pay a commission plus pay over a dollar So in this case, we're just letting it expire and keeping that beak profit Google we've got an iron duck in google And price is hanging out up here in the beak. I put this price slice right here These expire next friday. So we've uh, we've still got about a 33 chance that price could come back down in here to the duckhead area So we will keep that on for now IWM we've got this, uh, again a long put vertical here for that short delta exposure Just inside of our range here speaking of short delta We're about three to one on our short delta versus our theta ratio. So in line with our our range that we like to keep QQQ very similar to dia. We've got one spread in jan That's just outside of our range and then we've got one spread in feb That's just outside of our range So like I was saying if we could just get a little bit of a pullback in this a little bit of relief in this death march higher That would be much much warranted much welcome. I should say I mentioned rocu I mentioned Shopify mentioned smh spx Uh, so we've got an iron duck in spx. I'd like to add another one or two Ducks in spx, but I mean price just hasn't moved. I don't want to load up anymore at this at this price level Again, I'd like to see some downside movement before we add another duck, but This one is january 10th. So not next friday, but the friday after this one expires. So we've got about 14 days SPY we've got this short call vertical here prices right inside our range right here Looking for some more downside to benefit that Tesla okay, so tesla was gonna actually had an order to try to take this one off today You know, we like to get to a point if it's if it's under 10% chance of getting down into our duckhead area. We'll we'll look to take this off This is close enough. This is about 12 percent. I put an order in never got filled. So again, I'm just gonna wait You know this we do have a full week So I may pay up a couple pennies early next week if it's still hanging out up here or if it you know, of course if it goes higher We'll just look to get out of that because then you got a just a very little chance of getting back to where we really want it to Might as well just book those profits and redeploy And then lastly xlk. This one's run higher. We will this is the one that we accidentally rolled to the weekly expiration So we've only got seven days But we'll so we'll look to roll this next week and we'll roll that out to the feb cycle which at this point has 56 days And so that's our plan in xlk So those are all the alerts. Those are all the positions everybody have a great weekend Look forward to a new 2020 Everybody have a good one. Talk to you soon