 Hey everyone welcome to this week's video update today's Friday, November 20th Hope you had a good week of trading. Don't forget next week is Thanksgiving So we're gonna have a little bit of a short week taking a look at the S&P 500 obviously after the after the election things kind of just trended higher and Implied volatility just acts absolutely got decimated. I think the the path of least resistance for stocks is still To the upside obviously the S&P hit an all-time high a couple weeks ago Looking at the NASDAQ NASDAQ did not so NASDAQ trading right here hit a high back here in August So it's been a tech has been a little bit weaker since then However, the Russell small caps financials primarily travel companies with the new potential vaccine coming out The Russell has been on fire to the upside with very little pullbacks Hopefully we get a little spiking implied volatility Into next week or the next couple weeks to add some more positions. We are a little bit light in our allocations overall And that's okay. We don't want to force anything But would like some higher implied volatility to start layering in some new short premium So until then we'll continue to trade our normal strategies You know iron ducks are still okay and low implied volatility obviously Even better when applied volatility is high, but still very very doable. We'll still continue to do some weekly double calendars and And and start to implement some other directional strategies and and other things. We've also got don't forget I mentioned last week, but December 17th is our vertigo strategy web class So make sure you get that on your calendar at 4 p.m. We'll be sending out notices and Links to get signed up and all that but just as an early Notification make sure December 17th is on your calendar And with that let's start with the day trading results for the week. So nice week of day trading Starting with the mighty 90 plus a little over $3,000 just on the on the mighty 90 strategy For green days didn't trade today. I was unavailable to day trade. The only thing I did today was I put on one pairs trade in Nasdaq versus ruck Russell booked 140 there for the week just two pairs trades minus 57 bucks And then on the runners I had a little red day on Monday. The rest of the days were green for plus 654 on the week in runners. So If we go to the summary page here So you can see for the week total $3,611 for the week total day trade since the end of August basically first of September We're up a little over $27,000. So going excellent I talked about this in the day trading recap video, too So if you haven't seen that on the Facebook group page or or via the the recap page We don't we We have gotten back into the swing of things on the mighty 90 You can see there's periods where we had a really low win percentage 45 percent 45 percent 50 percent 50 percent It was really hurting our performance and I went back to see what was I doing at the beginning that was making it so much More successful than it had been, you know for for a period and it was it come to find out It was a lot about the management I was I was almost trying to manage the mighty 90s like they were runners by cutting the losses really quick and And just being done and that was really lowering the win percentage and in turn Lowering the profits on the mighty 90 strategy. So even though we're rocking it out on the runners The mighty 90 had some had some down weeks down days and a lower percent win rate And so you can see now last week we're up to 70 percent win rate this week up to 80 percent win win rate Even though last week was very minimally positive. That was really due to just one or two Bad losses, but now you can see we're back back in the swing of things. So I'm excited about that You know that that's why that's why it's really important to track this stuff So you can kind of go back and look and and take notes on your trades and things like that So you understand what you were doing when things were going good and what you're doing when things are going bad So you can fix those things and that's that's part of trading. So Really happy about that looking forward to more opportunities here in the coming weeks We will be We'll be offline Wednesday Thursday Friday next week for for Thanksgiving But we will be live streaming Monday and Tuesday. So if you get a chance make sure you drop in there having a lot of fun making some money and Make sure you're make sure you stop by Okay jumping into the alerts Starting with Monday the 16th SPX did a weekly double calendar Did this one in the AM with the AM options and I'm gonna I'm gonna spend some time talking about this because there was some confusion from some folks in the community and I Had a little confusion myself. So I'll share that with you as well. So out of that We already had one on that we use the the PM options This was with the AM and so when we get to the close, I'll talk more about that Q-com did a closing trade. We had this on as a post earnings long call and Ended up taking it off booked a profit over 30% not quite the 50% profit We were looking for but we were able to get out of that profitable Let's take a look at a chart of Q-com Show you what we did there So we had let me zoom in here. So we had earnings popped up as price came down We got long in this area here for a continuation to the upside It chopped around for a couple days and then and then dropped when the market had a big down move popped right back up and On this day here, we went ahead and just closed that out and booked a profit. I was I was looking for that move back above the highs of Just after earnings it did end up getting there a couple days ago, but we didn't wait around I think I think it was this day actually that we got out right near the right near that high high part So could have booked a little bit more, but that's okay. We still booked a nice profit nonetheless XLK rolling adjusting trade. So this is one of our short Short Delta plays. It's a long put vertical in XLK. This one was in November So we needed to roll out. So instead of rolling out to December with 32 We just went ahead and rolled out to January with 60 days. Let's take a look at XLK It's not too far off from where we rolled it. Yeah, we're up about 75 bucks since that roll So I'm gonna continue to hold that for short Delta Speaking of short Delta, we're a little less than one to one on our short Delta versus our theta ratio And so I like that position. I'm not looking to load up on short Delta at this point I still think we have more upside in the market But we still want to keep a little bit of short Delta in case we do get a down move We will benefit from that Next trade opening trade in Tesla. So we did a an iron duck in Tesla They there is a news came out that Tesla was going is now going to be included in the S&P 500 And so the stock shot up 10% in one day. I Assumed there was gonna be additional upside So we put on an iron duck With the with the potential that hey, you know if this thing does roll over We have this huge buffer to the downside way down actually Where is our downside break even? 402 so way down here Is our is our downside break even but if this thing continues to rip higher? We have no risk and we can make a little bit with the beak profit So here's the day it jumped up and then sure enough the next day ripped higher again and ripped higher again And it's kind of taking a little bit bit of a breather today But this thing is way up the beak markets closed right now. So don't pay attention to this Goofy P&L line, but we're way up the beak not quite enough to book it yet But early next week if price stays up here or even goes higher We'll just close that out early and book big profit these expire next Friday So more than likely we'll be taking this off on Monday or Tuesday Next trade was Nvidia. So we did an earnings iron duck in Nvidia They announced earnings the price opened up right at basically at the same same spot So not a big up move not a big down move just opened up right where it closed So right inside of our beak we closed it out today and booked beak profit I was hoping we were gonna have a down move and we have a chance to get into the Into the duckhead, but didn't quite get there. Let me take a look at Nvidia oops NVDA Let's take a look at where that ended up the markets closed now Yeah, so it still ended up right in the beak just needed a little bit more down movement to get in that head Just didn't quite get there. So we still booked What is that 120 bucks of profit on Nvidia? SPX closing trade. So we had one of our weekly double calendars. We closed that out on Thursdays I think we booked right at a hundred dollars on that one So a small profit and then spy iron condor We had a we had a call vertical side left in November November options were expiring this week. So we needed to close or roll that we went ahead just closed it out I didn't want to keep that short Delta. So we just closed it still have a full iron condor in the Dease cycle Which we're getting ready to close as well. We're About it 40% of max profit. So we're giving it over the weekend. See if we can get a little bit more Theta decay and book a little bit more profit on that one Yes, we're only adjusting trade. So this was our long put vertical in ES This one was also expiring. So we rolled it out to the 56 days to expiration. Let's take a look at ES You can see prices come down a little bit. We're up about 160 bucks since we did that roll Looking for some more dying downside action to benefit that one SPX iron duck. So we opened up another duck in SPX as the market was coming down today So we've got two iron ducks in SPX Here's the here's the one that we just put on and Price is hanging out right in the big pretty close to where we put it And then this one and this was and that was with 14 days to expiration The other one that we have on has five days left. So we'll take we'll get out of this next week Hopefully if we get a little bit of downside action, we still have a chance to get into the duckhead For some for max profit. So we'll see what happens there SPX closing trade weekly double calendar. Okay, so this is the one I want to spend a couple minutes on This is the one that we we closed out today. So a couple things one the front week had am Settled options. So what does that mean? Well, if you if you notice in the SPX option chain Most of them just don't say anything, right? They just say the number of the weeklies But every once a while every month once a month you have these am Settled options and these are noted both in tasty works and thinkorswim and I would assume most brokers where it Defines whether that's an am option cycle and what that means is that instead of these options expiring Friday After the market closes they expire Friday before the market opens But what confuses a lot of people is it's not there the settlement price is not based on the on the open of the SPX it's actually based on the open of all the 500 S&P 500 stocks and so it doesn't actually settle until Usually about 9 30 or 10 a.m. Central time and the and the way to the easiest way to figure out What that settlement price is as you go to the ticker? SET and it just it's kind of a goofy-looking chart, but it just notes that on With that little notch there. So this one Expired at 35 78 48. Okay, so that's where they expired this morning. And so we we basically the intent was to close this Yesterday and and then you know based on where the price was a little bit later in the day I was gonna I was waiting till later in the day where price was I was like You know what? We could probably book quite a bit more profit by just leaving it on Letting these front ones expire. We still have all day Friday To to exit the long options. And so that's what we did as soon as as soon as this got settled We we closed out our long options now the confusion was from a couple people a they they were trying to close it first thing in the morning and When you try to remember a in fact, let me just do this But remember a double calendar is made up of a short strangle in the front week and a Long strangle in the back week. We're selling the options in the front week That typically have a higher Implied volatility and we're buying the ones in the back week which have a lower implied volatility now notice That's not the case in this current seven and ten day cycle Which is why we did not put on a new weekly double calendar today or yesterday if you look at this the front week Implied volatility is lower than the back week. And so we we just skipped we didn't we just didn't do it because it doesn't set up Right, but let me show you I'm gonna use this as an option anyway Because this is kind of that typically the time frame that we put these on if I go in here to the seven day And I sell a strangle. I'm gonna break this down in the two different parts because I think it'll help you understand The thirty five ten is the puts So I'm just doing this as an example. This isn't gonna look right because These the skew and these options isn't quite right, but and then I'm gonna go in and I'm going to buy Well, actually what I'll do is I'll just Create analyze opposite trade Change this to the 30th Okay, so that's the normal situation of what we would do, right? We would sell the front week by the back week now again It doesn't look symmetrical the markets close plus the skew is off. So it's not gonna look quite right, but my point is For the one that expired today that we managed So essentially if we look we had the short strangle and so this one we let expire and it expired for basic almost max profit now one of the things that I Was in my mind it was expiring for max profit, but it actually expired like right here So just off the max profit. So we we we didn't get We didn't get 100% of max profit. We was like a hundred and fifty two dollars Less than max profit because it expired right there. So we did so so that settled and and those options Disappeared out of our account. We we booked that almost max profit Then what we had is our long strangle, which still had the rest of the day before those options expired actually, I'm sorry Yeah, no, that was the yeah, November 23rd. So it actually had until Monday until those options expired Yeah, okay, so So what happened then is is on our short strangle those expired for basically max profit And then the price went lower which increased our profit on the long options and so by that happening We ended up booking a really nice profit I originally I was calculating and I was like there's no way we got a loss and as and as I was as I was doing that Calculation couple a couple of our members in the community start posting. No, you know, I booked 700 bucks I booked 800 bucks and and I went back and looked at I was like, oh, yeah I'm not sure what I was looking at I was I was calculating it incorrectly So good of my community to keep me straight. Sometimes I need that and So anyway booked ended up booking right at $800 even on the trade now you do have some risk, right? I mean it worked out really well Where where the the short ones? Booked basically max profit like I said Right in this area and then the long options. We got this down move which gave us even more profit Now the risk was if the market had moved higher and this Theta really started decaying and the Pena went down. We wouldn't have booked as much but But based on where price was and the reason we kept it on until today Was because we had that that benefit of potentially booking a lot more profit and it worked out well, so It was a little bit confusing so I apologize for the confusion But hey, if it if it books more profit then it's probably worth it, right? We we we're not going to make a practice of doing that There was a pretty unique situation that I thought it made sense to do it in if it was more centered or if it's up here On the upper end of the of the double calendar or something like that or especially out of range We would we would never do that so it's kind of a unique situation but worked out well and Booked a nice profit. So there is your explanation. Let me know if you guys have any other questions I know that's a little bit confusing if you're if you're not used to that and I know some people Because of that confusion just completely stay away from AM options and and I don't think you need to do that I think there's there's some opportunity typically the implied volatility is a little bit higher in the AM options There's definitely some opportunities kind of like we We took advantage of here today as well. So Make sure you make sure you get to know those a little bit All right next trade closing trade in video. So here's that in video earnings iron duck We closed booked big profit and that's it. So those are all the alerts. Let's take a look at of our other positions Starting with ES. We've got this long put vertical. I showed you that up about 150 since that roll Natty gas we've got this short strangle here. We're still managing prices come down a little bit this week So it's kind of hanging out in the lower end of the range, but no need for adjustments at this point Bonds are working really nice Nice move higher back into range. We're up over 2,300 bucks Since this roll we're gonna look to potentially close this out next week and Book a profit overall after being in this trade for quite some time Let's go back and look at a chart of bonds and take a look here Yeah in this in this wild and crazy stuff We got flushed out a couple times but look at look at I mean bonds have been really trading in a pretty narrow range overall and By just kind of staying consistent managing making the adjustments as as necessary We're able to get back to We're able to get back to profits, you know took a few months took a few cycles, but Worked out really nicely. So we'll be closing that one out soon in apple So We're up about 66 bucks since we did this last roll holding this for that short delta exposure looking for some more downside there Same thing with DE this one's way out of range. I was looking to potentially roll this next week We're already in December which has 28 days. So we could certainly roll out to January I was just gonna I'm gonna give it into next week See if we get a little downside movement before I roll that out But holding that for short delta as well same with DIA Up a little bit since that last roll same with IWM a little bit out of range on that one So you need a little bit of downside action to get back in there Same with QQQ's need a little downside to get back in a range on that one SMH we've got this short strangle that we've been managing prices out of the range if we look at just the put side You can see that we've still got a little bit of premium left in there I mentioned in the notes if price continues a little bit higher. We will roll those puts up But we're just gonna give it a little bit more time. See if it comes back into range Don't want to adjust too quickly And this one is in December So if we do roll we will go ahead and just roll that out to January because we're under 60 days to expiration there SPX I mentioned we've got those two iron ducks SPY Tesla and XLK I can't remember if I mentioned this one. Yeah, we've got this long put vertical looking for some more downside to benefit that So those are all the alerts. Those are all the positions. Hope everybody has a great weekend We'll see you next week for a shortened week with the Thanksgiving holiday. Have a good one everybody. Talk to you soon