 What's up navigation traders welcome to this week's video update today's Friday, May 31st last day of May another month in the books In this video, I'm not I'm gonna go over the alerts and the positions But it's gonna be a little bit longer video because I also want to give a little up to date year-to-date Update on our open positions and in closed positions all that good stuff I do a separate video really for the public just showing our closed positions because obviously we don't Want to give them insight into our open positions because that's exclusive for our pro members But I want to I want to provide a little bit more detail for you all here in this video And then you can also watch the the closed trade monthly recap like I always do But let's jump in starting with the community and who got caught being hot This week's member is one of our veteran traders goes by the handle PJ and PJ posted a really insightful Perspective on stock assignment if you didn't catch that post I put the link here So you can go check that out. I'd encourage everybody to do it and just some great perspective he's been he's been trading a long time and It's always good to have some insight and different perspective on Kind of strategy methodology that kind of thing. So really appreciate it PJ We value your contributions as we do all the members and keep up the good work All right, so let's go to the alerts for the week starting with There's a short week. Remember we had Memorial Day. So the 28th was the first day of trading So let's go back to the 28th. Even though it was a short week Definitely not short on action. So good week of trading here starting with ZW Which is our wheat position. We just added an iron condor and wheat Out in the on the cycle with 59 days to expiration and remember I get I get a couple questions as new members come on board sometimes when we post these options on futures trades Keep in mind that tasty works for example displays this as July options, but toss displays them as August. Yes, it would be nice to have some uniformity within these but unfortunately, that's just the way they do it and so What I do here is I always post the cycle that we're using with the days to expiration So if you're following along and you want to place that trade or follow what we're doing Always follow the days to expiration not necessarily the displayed month That the broker shows we copy these alerts directly from toss and paste them in there So you can see exactly where we got filled and exactly so you can copy and paste it into toss if you're if you want to do That as well, but just keep that in mind when following along So we just added this we've got it. So we've got two iron condors in wheat. Let's check that out This is our July position or the shorter term position. You can see prices right here on the break even I was just looking at how much value is left in the puts got a tiny bit Just didn't make the adjustment yet. Obviously price stays here continues higher We will close out the untested side and see if we can get a bounce back down into range to profit from that piece and then our other one is the Full iron condor from the alert that we just added so you can see price is still fairly centered here Just waiting for some more time to pass before we do anything on that one Next trade was an opening trade in DE which is John Deere So we just we're looking to add some short Delta We'd like the kind of the setup on this one had a push down kind of was bouncing a little bit higher Looking for a continuation to the downside We did this in the shorter term cycle because we were looking just to hopefully You know get in and out of this one in a little bit of a shorter period of time So we use the the shorter dated options if we take a look at DE You can see we're pretty close to right where we put it on right now I actually took some heat yesterday price moved up at a range which was interesting because the rest of the market was Falling pretty good. However, Deere caught a bit and was a little bit strong and And so if we look at a chart here We put this on on this day here and then it rallied a little bit and now it's back down kind of back into range So hopefully we can get that little bit of a continuation to the downside in John Deere Next trade was an opening adjusting trade in SMH So we've we had one adjusted strangle and kind of got to Got down to our kind of Downside break even so we just went ahead and added another centered short strangle out in July with 52 days to expiration Now if we look at both positions in SMH What you'll see here is this is the this is the one that we've still gotten June now We're at 21 days to expiration. So we're looking to Extend duration roll this one out. I just wanted to because of the lot of the downside we've seen I'm just gonna see hold it over the weekend see if you can get a little bit of a pop Get a better credit on that roll before we do so if we take a look There is quite a bit of the value out of the call. So definitely warranted an adjustment today But just wanted to give it give it over the weekend see if we get a little pop If not either way, we'll be adjusting that rolling it out to July But the alert that we sent here is this new centered strangle where you can see prices right here Still pretty dead centered and just waiting for some time to pass on that piece and that is out in July already Next trade was a rolling adjusting trade in ES So this is this long put vertical that we've been kind of just carrying for that short Delta exposure We were well over 50% of max profit on that on that piece of the trade so we went ahead and rolled that out locked in that that credit and Continue to manage this one you can see after today's down movement We're just we're up a little bit after the roll But just gonna continue to hold that for that short Delta exposure Speaking of short Delta exposure. We are not short. We are actually a little bit long in our Delta now Which is just how it happens I mean we had a significant amount of short Delta just a couple weeks ago and with this recent downside You know, we're gonna close out some of our short Delta positions our range bound positions The price is going to move more into center or even left of center Which actually provides sucks out the short Delta and naturally provides that long Delta. So We will be I mentioned this earlier. We'll be, you know, adding short Delta as we see opportunities to do so I don't like to sell short when we're what we call in the hole, you know, the markets down I'm not gonna look to enter short positions when the markets down like this unless we get to a period where we're Significantly long then, you know, we'll definitely have to take some a little bit more drastic measures But you can't over adjust these things, you know We'd like to be in a range of short Delta to versus theta of about between one to one and five to one We are less than that, you know, we're we don't have any short Delta. We've got a little bit of long Delta But you can't over adjust either you can't you can't panic and and And create an issue because it because then you get what we call whipsod a little bit Going back and forth with big Willie in the community, you know, he was kind of having the same Same thoughts about getting whipsod and and adding and removing long and short Delta and and you know My my theory on this is you just got to slowly Massage it over time. You don't want to overreact and so that's what we're doing here Obviously if we get a snapback in stocks Next week that will benefit us because we do have long Delta and of course if the market continues to slide lower Well, we're gonna feel that a little bit, but it also gives us the opportunity to add new positions and sell some more premium So either way, we're just gonna play the cards. We're dealt and deal with it as we go Next trade rolling adjusting trade in ZB Which is the bonds and so we have a short strangle here and we just adjusted this one July was down to about 23 days to expiration and We we needed to adjust our puts up because it breached our short strike so we wanted to roll up our Puts and in doing so we just went ahead and rolled out to the August cycle with 58 days to expiration as well Rolled our puts up from 145 to 151. So now we're carrying the 151 short straddle So let's go to ZB here and you can see prices moved up even more since we did that roll So just looking for a little bit of downside and just some more time to pass before we do anything else in bonds Okay, so next position excuse me next alert was a rolling adjusting trade in the KRE. So we had a short strangle in KRE Price came down breached our short Strike there. So we wanted to roll our calls down same situation as the bonds had 23 days to expiration So we just went ahead and rolled that out to July with 51 days. Let's take a look at KRE KRE and you can see prices just kind of hanging out down here So just looking for price to kind of settle down and let that theta decay Next position next next alert closing trade in CL So this is our oil position that we put on in October and had continued to manage out I did a Full video just kind of the whole progression of this trade. So you'll see that coming out here probably next week Just showing you kind of how what we did from from beginning to end Give you a quick snapshot now if we go to the CL actually Let's go to the continuous contract here and And and I just showed kind of where we made all our adjustments and the fact that we had a 40% decline right out of the gate from where we got in and then we had a 57% rally with very little pullbacks That is a very difficult situation to trade in but we stayed mechanical kept our position size manageable and we were able to book a nice profit so Got out of it or our oil trade with almost a $500 profit or 400 and something dollar profit so good good mechanics there good sticking with it and And so we're out of oil until we added the new one which I'll go over here in just a second next trade was a Trade that we entered in XRT. So as implied volatility is popping We are selling premium. So we added a short strangle in XRT. Let's take a look at that You can see XRT retail has been getting hit worse than worse than most things But our since we put this on we're pretty much dead centered from where we put it on so just playing the waiting game in XRT Closing adjusting trade in IWM So we closed out the call vertical side of our iron condor as price moved down and so we're still holding that short put vertical We also later added an alert of adding a new iron condor Which you can see here just pretty centered from where we put it on and then here is the short put vertical Which price came down breached our break even so we closed out the untested side still holding this if we get a little bit Of a snap back up into range will be in good shape on that if not, we will will manage as needed We've got 21 days to expiration Remember on that piece remember with these defined risk. We're gonna let those go further It's the undefined risk the short strangles and straddles and things that we that we like to manage at that 21 days until expiration point Next trade opening trade in oil, that's the one I mentioned now This is one that we did on Thursday Boy do I wish we would have waited one day on this to enter because the option price is really spiked and With the continued downside in oil and so the interesting thing here is I mean you can see we're down on this trade almost six hundred dollars, but price is still fairly centered and that's all about the IV and the option prices in these oil futures the the option prices the implied volatility has popped and The options have gotten more expensive, which is obviously pushing our profit line down So did get a question in the community about hey should we should we add to this one because of that and My answer is I have absolutely no problem with you doing that. Just keep in mind oil is a big contract You know, so if you're adding positions, just make sure that your account size warrants Warrants that position size what we're gonna do is is if we add to a position We like price to you know have moved a pretty decent amount So implied volatility has moved which is a good reason to add to a position But in this case, we're gonna wait to see, you know, if price moves, you know wait way out here near a break Even then we might consider adding but this position. We're just gonna hold and wait Like I said, if we were to put this on today instead of tomorrow It would have been a lot better shape, but can't trade in hindsight either. So just a little FYI on that one Opening trade in IWM we added that iron condor. I already showed you that then we did a rolling adjusting trade in XLK This is a long put vertical that we've been holding for that short Delta exposure And we just rolled this to keep that short Delta exposure We were well over 50% of max profit on this piece of the trade So just extending duration and keeping that short Delta in our portfolio See we've moved down a little bit even since that roll So we've made a little bit since then but just kind of continuing to hold this for that short Delta exposure Next trade a closing trade in BA, which is Boeing. So we had a long put vertical on in Boeing Looking for that downside action booked ended up booking over 50% of max profit on that trade We were in the trade for about 10 days We actually could have gotten out earlier, which I know some of the members did which is great But we put this on Here whoops BA We put this on here after we saw that nice push down and it rallied and we are just looking for a continuation to the downside We got that within a couple days But we were we held on to it because we were closing out some other short Delta positions And didn't want to just go ahead and close them all out and then it went back against us Took a little bit of heat but then rolled over again and we ended up booking a profit today to get out of that trade. So Nice trade in Boeing Next trade was a rolling adjusting trade in QQQ So we had two sets of short call verticals in the queues So we took one of them rolled it rolled it out from June to July We were well over 50% of max profit on that piece So we just wanted to lock that in roll out extend duration keep that short Delta And then we're still holding our other piece in June. So let's go to the queues and Take a look So here's the one that we're still holding you can see it's over 50% of max profit, too But I just I like to spread out these roles spread out these adjustments spread out our trades Because time is one of the factors in diversification So holding on to that one until now and again, we've still got 21 days left to June But we'll probably you know prices stay here to lower We're gonna go ahead and roll that out as well But the alert that we just sent was today was this one here So we just rolled that out price is pretty close to where we put on It's actually creeped up a little bit since we've done the roll But just continuing to hold that for that short Delta exposure in our portfolio. So looking for some more downside there Next trade opening adjusting in DIA So we just added an iron condor in DIA with the option prices elevated Just looking to sell some more premium so you can see where that is just dead centered We just put that on today still holding our other iron condor in DIA as well because he prices just kind of hanging out here near the lower end of the range And this is kind of what I was saying in oil is we like price to move down to one of the Near or through one of the breakevens before we add and that just spreads out our range So we added this new one that's centered around here added it in July instead of June So we're spreading out our range. We're spreading out our expiration dates and just continuing to manage and massage that way On this one obviously looking for a little bit of a bounce higher to benefit that If it continues lower, we'll close out the untested side just like we do and stay mechanical Lastly we opened another trade selling some more premium in this case in EWW, you know Trump tweeted and there's there's announcement from the administration that There's gonna be a a new tariff levied on Mexico To help add some pressure to sure up the border Who knows what else is the agenda for that? But that's the case and that made option prices spike in EWW, which is the Mexican ETF and so You know, I know I think a lot of especially newer traders get a little nervous with this type of trade because you know at this point It looks like you know craps hitting the fan, right and in Mexico and you know Do we really want to put a position on in this when everything is so scary? Well, keep in mind What we're doing is we're selling fear, you know, we are anticipating that fear is overstated and I mean look at the look at the IV Spiking, you know, just in one day because of that tweet because of that announcement and You know, hey listen, this could turn into something bigger than than what we think and you know prices can continue lower I'm not saying that couldn't happen, but our goal here is we're selling fear we're selling premium when we see option prices elevate and Almost all the time fear is overstated and that's what we're trying to take advantage of so you can't be scared about that The way you defend is you keep your position size small. Okay, so keep that in mind and so We've in fact, this is already contracted a little bit since we put it on this morning We're up a little bit of money. Just waiting for some more profit before we do anything there All right, so that's all the alerts. Let's take a look at some of the other positions here Starting with Natty gas Natty gas is not moving in our direction this week It's moving down. We need a bounce higher to move back in our range If we look at just the calls, you can see we still got a decent amount of premium left between now and Exploration so not looking to make another adjustment at this point I just looking for hopefully some cyclicality for prices to bounce back up in Natty gas. I Mentioned bonds. I mentioned wheat. I mentioned deer DIA EWW FX I okay So this is one that we we're close to adjusting. I mean, we you know, there's there's very little value left in the calls For sure just wanted to give it over the weekend to make a little potential bounce And if so, we're you know, we're back in good shape You know adjusting we really like to do We don't we don't like to over adjust and so this one definitely warrants an adjustment But just giving a little bit more time and because we do have 21 days left in June So not in a huge rush, but we get a little bit of a bounce higher will be in good shape there Intel and we we adjusted this one last week and prices come back even with the market selling off Intel's been Relatively, you know sideways during during that period. So that's actually helped our position here You use a little bit more upside before we do anything else in Intel IWM I already mentioned that one IYR we've got this real estate ETF iron condor on Just looking for a little bit more downside a little bit more time to pass Before we do anything there. We are down slightly We've made several kind of adjustments and additions and closes on this one over the last couple months And so we're still down slightly but in decent shape on this piece And if price moves higher, we may look to add to this one this one this piece is in June We would look to add in July next week if we do that KRE this is our adjusted strangle it we adjusted it to a straddle You can see prices right here looking for a little bit of upsides to get back into center Qualcomm We've got a short strangle on here that we that we sold last week And we've got some profit here not quite enough to take off just playing the waiting game there. I mentioned cues SMH I mentioned that one SPY we've got two pieces on here We've got a short call vertical spread which with this down movement is is profitable now looking for a little bit More downside before we do anything there and then we had also added an iron condor Which is profitable, but just waiting for some more profit before we take that off. I mentioned XLK XLV the healthcare ETF prices moved nicely back into center Just waiting for some time to pass before we do anything there and then XRT I mentioned retail sold a strangle So in good shape there. So that's all the trades. That's all the alerts. Let's take a look at kind of where we're at Year to date. So if we go to our monitor tab account statement here, let's just go through some of the You know, I'm not going to go through every single one of these but some of the the bigger, you know, pluses or minuses Had a good couple good trades in the British pound haven't been in that for a while with implied volatility being low But booked a couple nice winners there Oil you can see, you know, eleven thousand five thousand four fifty These were these these first couple these were kind of holdovers from last year meaning we were already in the position and then once the After the first of the year. So we're looking at year to date from January 1st And obviously that that profit came in On those so that was nice to see and obviously now I mentioned We were we were out of that trade and we're then we're back into a new position on oil So you can see what they break it down by the different cycles that we traded so net net Very positive in oil year to date Yes, you can see we're down a little bit Obviously, we're using that as a short hedge and with the huge rally that we saw in the beginning the first quarter this year Really until until the last couple weeks. You can see we're down on that one This one here up twenty five hundred on that gas. Okay, so you can see all the different positions you can see Net net on that gas were pretty even for the year We had a you know, a couple down cycles couple up cycles So we're pretty close to even on the year in that gas just continuing to manage that position that Came over from last year as well ZB you can see we're down a little bit on this one here with our current position just managing out of that one Let's see what other we just kind of up down up down Apple we took that hit on that long position long See that I think it was a short call vertical spread. So that's where that came from See some other little winners here by do a little loser DIA With that obviously that the huge rally in stocks. That's kind of a common theme if you have short Bias positions on that's where you're gonna see some losers some winners here small winners here Facebook was another one kind of like Apple that we just closed out as a long position took a loss on that one Let's see if there's any other major kind of big winners or losers here the other one. Oh, SMH. Yeah, we're down We're down a few thousand dollars on SMH But overall for the year we 86 we're actually we're actually up about 6000 with the way that they show the futures I basically just took our 12 31 18 Netlick balance and based on where we are today. We're up about 6000 so we're up about what is that seven eight percent on the year Obviously with a huge move higher that we saw in stocks with very little pullbacks and you know the managing of oil and Nat gas It's great to be in positive territory. We earlier this year. We are much more positive But hey, we're you know up six seven percent not bad And if we just get some kind of two-sided action as opposed to a huge massive One-directional move to the upside we will be in good shape So that's kind of where we're at like I said I did a video to kind of recap all the closed positions for the month You can check out that video separately, but just wanted to give you an update here Hope everybody has a great weekend. Look forward to another great week of trading next week. See you then