 What's up navigation traders welcome to this week's video update today is Friday May 4th May 24th This is our video review of all the trades and alerts for this week. I Apologize if the audio is not the greatest quality I'm actually in the lake of the Ozarks for the weekend long holiday weekend. No trading on Monday by the way Lake of the Ozarks is a big lake in Missouri and place where a lot of people go for the holidays and If you haven't checked out the video series on Netflix called Ozark check it out It's a good one and it's all about the lake of the Ozarks where we're at this weekend So hope everybody else has a great Memorial Day weekend as well But let's jump into the stuff for this week starting with In the community who got caught being hot this week This week is goes to a newer member named Ross s is what he goes by in the community He's jumped in started trading share Sharing trade ideas and getting involved in the community. So Love seeing newer members getting getting involved It helps everybody the more that you share it more that it helps you as well as everybody else benefits from the ideas and suggestions and comments so Congrats Ross keep up the good work and Anytime we hand out who got caught being hot award you get some navigation swag So you get a trade hacker t-shirt or a mug or whatever you want. So congrats keep that up All right, let's jump into the alerts for the week starting with the 20th of May, which was Monday and The first was a closing trade in Nvidia. So we had a short call vertical in Nvidia We had to make a couple adjustments ended up continued that lower lower movement in In price and we went ahead and booked a small profit overall in that Nvidia trade. So we're out of that one Next trade was an opening adjusting trade in SPY. So we added an iron condor in SPY I'd be percentile jumped up is at the 70 level when we put this on I mentioned we made these wings five strikes wise We did less contracts made it a little bit wider than our kind of standard three strike wide iron condor and SPY And what that did it just increased the probability of profit a little bit and the credit And so I just like the risk reward in in that set up a little bit better So you can always just tweak those to what what fits best for you, but that's what we like here So if we take a look at SPY Let's jump over here and take a look. So we've got We've got two different pieces in here We've got this short call vertical spread that we rolled from June to July just to keep some of that short Delta Exposure in our portfolio and then we've also got this iron condor from the alert that I just mentioned And you can see it's pretty dead centered. We're up some profit in that But just waiting for some more before we before we take anything off or do anything else now as far as our short Delta Ratio, so we always like to keep about between one to one and five to one in short Delta So we want our portfolio to be short biased to help from those Sharp down moves like we've seen recently and it's definitely benefited us for having that and And so we but we'd like to we don't want to be too short So the way that we look at that is our short Delta beta weighted to SPY Versus the amount of theta that we have so we'd like to be in that kind of one to one ratio is as high as five To one ratio and we were we're pretty close to that five to one ratio just a couple weeks ago And now we're basically Delta neutral So anytime you have a sharp down move like we've like we've seen Sucks up a lot of that short Delta obviously gives you that profit for having that short Delta But now we're pretty Delta neutral So we will be looking to potentially add a little bit of short Delta We don't want to over adjust or overdo it so really over the next couple weeks just kind of slowly added in and And and get back to a nice range on our ratio there. So that's where we're at overall Let's take a look at the next trade alert, which is an opening adjusting trade in SMH So this is a trade we went ahead and added a short strangle implied volatility popped up to 87 on the percentile So we sold some premium there in SMH We took we put this on on the 20th on Monday and we just took it off today So just in the trade for a few days booked over 30% of max profit on that trade Now we still have another piece to that trade on which is this Slightly inverted short strangle and you can see prices hanging out here in the lower end of the range So if price starts moving down again next week and that'll probably push implied volatility higher We'll probably add another centered strangle around this and just keep adding booking adding taking them off adding Taking profits. That's the name of the game and until we you know are profitable in this trade And so that's the plan in SMH if you look at the chart You can see implied volatility is still nice and high So if we get it if this kind of gives us a little bit of a continuation to the downside applied volatility will pop making those Options more expensive. We'll sell a little bit of premium to take advantage of that So that's where we're at in SMH Next trade a opening trade. We bought a vertical in Boeing just to add some short Delta Exposure and we were looking we had actually yesterday. We had we're at 50% of max profit I had a an order in even away from that price trying to get some more because things were I mean things were going down quickly So there was a good reason to think that it would continue to the downside Unfortunately, it never hit our order and then Boeing yesterday and today reversed a little bit and have come all the way back And so let's take a look at where we're at. Let's look at the chart first So yeah, we're down here yesterday and then and then all of a sudden boom it reversed back up And now we're all the way back up here Unfortunately, we did not get out of that one partly because we want to hold on to some additional short Delta I was taking off. I was rolling the spies. I was taking off some of the other short Delta plays because we were profitable This is this is one that we just kind of kept on for a little bit more profit Unfortunately, it reversed on us and that's just trading. That's just how things happen sometimes now Nothing says this can't continue back to the downside in the next week And if that does we'll we'll be in good shape on that one and we're still in this decent shape Price is still well within range. We got a tiny bit of profit here But we were way down here and unfortunately did not get it taken off didn't get our order filled So that's where we're at now keep in mind because I had a couple questions about this in the in the community so it said hey, we're at 50% of max profit shouldn't we take this off and Everybody's portfolio is a little bit different So your short Delta in your portfolio is going to be different than mine And everybody's is going to be a little bit different So I don't want you to use our alerts to try to mimic exact fills and exact trades the goal is to understand what we're doing why we're doing it and Manage those based on your risk profile based on your preference based on your portfolio So, you know, if it was a situation where this was at 50% of max profit, you know That's a good place to take these off from an overall probability stance But it matters how it fits into your portfolio as well So keep that in mind Don't don't necessarily always wait for the alert if you're in a position where you think it's a good time to take It off or it's a good fit for your portfolio because what you might be good for you May not be the best for us vice versa. So just keep that in mind We want to teach you how to fish here We want to teach you how to manage your portfolio and we're showing you what we're doing But all the exact fills and an exact timing is not Not necessarily The key it's it's just how to manage it So that's where we're at in BA next trade closing trade in XBI We had an iron condor on booked over 30% of max profit in just 11 days there So good trade in XBI and let's like let's look at the chart in XBI implied volatility is Been high in there it's starting to come down here But if we get a little pop higher we may look to re-enter with a new centered trade in XBI next week By the way, and and we will be looking to add positions We we've got to have to taking off a lot of positions price coming back into our range booking profits We are in a good shape to add some more positions. We've got a lot of cash in our account right now I think we're only using about thirty thousand dollars in buying power. So definitely could use some additional positions here going into next week and Hopefully we get another little pop in implied volatility, which always makes it better Next trade closing trade in EWZ. So we had a short strangle another one of these that were taken off booked over 35% of max profit in just eight days on that one. So great trade in EWZ next trade opening trade in Qualcomm so Did a new short strangle looking for 30 to 50% of max profit there applied volatility spiked with a huge drop in the stock Let's take a look at Qualcomm Excuse me. That's QQQ Qualcomm See after you see that after that news came out about them using their materials for Apple iPhones just skyrocketed and kind of stayed steady and then boom dropped about 10% in one day So that made implied volatility spike We want to take advantage that by selling premium and that's what we've got here We've got this short strangle. You can see prices hanging out right here No profit or loss at this point just waiting for some more time to pass some more theta to decay in Qualcomm Next trade closing trade in XRT. So we had a long put which we don't do a lot We don't buy a lot of options sometimes we'll do long calls pre earnings because we get that implied volatility expansion in this case XRT is a lower price stock. You could have done a short call vertical. You could have done a long put vertical We ended up just buying a put kept it simple booked over 45% on the trade in just seven days on that one Next trade closing trade in EEM. So we closed out our remaining short call vertical We started with an iron condor made several adjustments had a short call vertical in EEM price came down nicely Book that took a nice profit out of EEM overall after all adjustments So we are out of EEM you can see we closed out of a lot of positions this week Which is which is good reduces that risk exposure and gives us a chance to reload Redeploy that capital into other high probability trades Next trade rolling adjusting trade in SPY. So we had a short call vertical That's originally part of an iron condor and we wanted to keep that for short Delta in our portfolio So we just rolled that from June out to July. We were well over 50% of max profit on that piece So we just wanted to extend duration keep that short Delta and and so that's where we're at with SPY I think I already showed you the yeah, there's the iron condor and then here is the Short call vertical that we rolled and so you can see price is still in range here pretty close to where we rolled it So just looking for some more downside in that piece to benefit Next trade rolling adjusting trade in Intel So we had a short strangle that we put on after earnings in Intel because the implied volatility stayed elevated It's made a pretty decent size move down We rolled down the calls and then we needed to roll down the calls again And and we ended up just rolling this out from June to July at the same time So we rolled down our calls from 50 Excuse me from 49 down to 45 kept our put at 50 So now we're short the 45 calls and short the 50 puts in July So let's take a look at Intel Let's come up a little bit today and a little bit yesterday since since we've done that roll So coming back into range nicely. We've got back some profit since that roll So just going to continue to stay man it continue to stay mechanical there Next trade closing adjusting trade in oil our good friend CL So for those have been with us for a little bit you remember last year oil made a massive move and we were down Pretty big on this trade But you just you got to stay mechanical as long as the position size is small enough Which is the key you can manage out of these trades and that's what we've been doing in oil So we had two different sets of short strangles We closed out one of them with a huge move down in oil and let's go to a chart real quick show you what I'm looking at and Yeah, just I mean boom boom boom, you know three days in a row down. I mean, that's how quickly things can change and And so we took one of those off and that completely reduces our not completely that Reduces our exposure reduces our risk by 50% because we had two different sets on we took one of them off and Went ahead and booked in that. We're now profitable. I think we're up about Five or six hundred bucks on the oil trade in total. So we'll I want implied volatility still nice and high This one's fairly centered and it's getting up there now after you make these adjustments and roles You know managing it 50% is not necessarily what we look like look for we're actually we're trying to get back to profitability Which we are now I just wanted to let this give a little bit more theta decay implied volatility has been spiking all week Now it's contracting a little bit today, which is great So giving us even a little bit more profit you can see we've got you know, almost $50 a day in theta here So I just want to hold this over the weekend. Hopefully we get a little more theta Sucked out over the weekend on you know month Got front today's Friday. So we got Saturday Sunday Monday, and then we'll see what happens Tuesday Obviously if it moves down a little bit, that's okay, too Or if it continued if price moves higher we'll get a nice contraction and implied volatility And either of those will benefit as long as it doesn't make too big of a move either way So that's what we're looking at in oil and then if we get out of that We might look to re-enter and redeploy as well. So in good shape there and Then the last trade today was a closing adjusting trade in SMH So I already mentioned that we had it we put that other that short strangle on earlier this week and booked over 30% of max profit in just four days, and then we're just holding that other piece of SMH So those are all the alerts. Let's take a look at some of our other positions starting with ES We've got this long put vertical you can see prices right here, and we're at you know Right a little over 50% of max profit just really this has just been a kind of a hedge holding this for short Delta We've rolled this over the cycles just keeping that short Delta exposure in our portfolio This is in the cycle with I think 29. Yeah 28 days to expiration. So We'll look to potentially roll if it if price stays steady to lower We'll look to roll this out next week and just kind of extend that duration keep that short Delta exposure in our portfolio and Then a natty gas so we've got two pieces here and you can see prices hanging out near the lower end of the range here We've got two different pieces. They're pretty pretty close to identical on the call So we've got 2.7 2.75 and then on the put side We're using the exact same strike of three so you can see there's two contracts on the three put So we just need some upside movement in natty gas and if you look at the value in the calls You know still got plenty of value. So if this thing continues lower, we're not going to make any adjustments too soon Depending on how quickly it moves, but that's where we're at in that gas Bonds this was this one was a little bit frustrating. I had an order in when price was dead centered Earlier this week and I think a couple people I saw got out Booked a profit in bonds. Unfortunately. We never never got filled I wasn't trying to chase it and then price just ran away. So unfortunately, we did not get out of that one Hopefully prices will stay steady to lower and we can still book a profit in ZB you can see price just kind of shot up away from where we were trying to get filled fortunately again that happens Next true next position wheat So you can see we've got an iron condor on and wheat prices just hanging out right here in the kind of the upper end of the Range and so we're just playing the waiting game there. I mentioned be a di a we've got an iron condor I got some profit there a couple people already took theirs off for a nice 40% of max We're just holding on to this trying to get a little bit more theta decay before we do anything there FXI which is the Chinese large cap ETF price is hanging out in the lower end of the range could use a little bit of up movement in FXI to benefit that Obviously, we got the trade wars going on which is kind of elevating that that implied volatility And so just looking for some two-sided action there If we may look to add to this one So if price kind of continues or stays around here, we'll look to add another centered iron condor This current position is in June. So we'll go ahead and add that one out in July collect some more credit and Keep moving forward Intel I mentioned IWM. We've got this iron condor Same thing here if price kind of continues lower here We'll we'll adjust by taking off the untested side and add another centered iron condor In IWM. So that's that's the plan there IYR the real estate ETF. I thought we were gonna be able to get out of this one But real estate was not participating in as much of the down move as the rest of the market So price hanging out up here kind of a similar situation We will potentially add another centered iron condor around price if it continues higher If we take a look at the charts, well Looking implied volatilities. It's gotten crushed the last few days So in that case, we may not look to add. We'll just continue to manage the one that we have Kree KRE This is a it's the Brokerage ETF and if we look at here, we've got a short strangle Now in the course we teach, you know if price comes down and breaches the short strike Then we want to roll the untested side down The reason I haven't yet is if you just really that what we're looking for is You know very little value left now We are we're close to that point and there is nothing I have no issue with anyone who wanted to go ahead and adjust this by rolling the calls down to collect some more credit In this case, we're just we're just holding, you know We did a lot of adjustments this week and so we like to spread those out over time And this is one we just chose to kind of hold and wait Obviously if price rips back higher, we'll be in good shape If it does stay here to lower, we'll roll down that call side Collect some more credit. We're in june on this position. So 28 days if we do make that roll down This is the other thing we're kind of in that zone where You know, I don't want to roll down in june because once we get down to 21 days to expiration We'll be rolling out again anyway So if I do make that roll down, I'll also roll out from june to july And so that's why i'm just kind of i'm not in a hurry to make that roll at this point Just kind of playing the waiting game there I mentioned qualcomm qqq Nasdaq etf we've got two different sets of short call verticals. You can see price is nicely in range We've made some profit on these little pieces of the trade We've just been keeping this on for that short delta exposure So just looking for some more downside to benefit that both of these are in june So if price continues lower next week, we'll roll it. We'll book that and roll at least one of these out to july Depending on where we're at with everything So that's the plan in the queues mentioned spy xlk we've got this Long put vertical kind of another one of those in the similar situation where we're over 50 of max profit But we we've just been holding this one because we still got some good downside left And so if we do get that we'll go ahead and book what we've got and probably roll this out to july to keep that short delta exposure And lastly xlv the health care etf you can see price is just hanging out right here So we just need a little bit more time to pass some more theta to decay To benefit that trade if we look at a chart of xlv See we've been getting that nice contraction But this this grind higher is just putting us in a point of our range We're not quite profitable yet. So if we could get a little bit of downside a little bit of theta decay That's what we need. So those are all the alerts. Those are all the positions Hope everybody has a great long weekend. No alerts on monday markets are closed So we'll see you back on tuesday. Have a great one