 What's up navigation traders welcome to this week's video update where we review all the trades from the week exclusively for our pro members Before we jump into the alerts, let's take a look in the community who got caught being hot this week So he goes to a newer member who has been jumping in been really active in the community Not only asking a lot of questions, but also sharing some share sharing some answers and resources as well So congrats Mike Evian. Hope I'm pronouncing that last name correctly. Congrats Mike. You got caught being hot All right, let's jump into the alerts starting with Monday the 29th Our first trade was a rolling adjusting trade in CL. So this is our oil strangle Rolled this one out. It got to under 21 days to expiration. So we went ahead and rolled that out to July with 49 and We've got two pieces in oil still so we've got Two different short strangles both of which are inverted. This is the one that we just rolled you can see prices come back a little bit So we've made back some money Even since Monday since that roll Just looking for a little bit more downside and oil. I mean if we can if we can get down to that 58 59 level We will have to double check But we're be pretty close to being profitable in oil at this point If we get down there and then our other piece here kind of same situation We we just need a little bit of a downside kind of that 59 area would be perfect in oil So hopefully we can we can see that got got a nice move down and oil this week Yesterday was a huge move down and so if we can get a little bit of a continuation lower That would be perfect. That would be ideal. Obviously if it it turns around and rips higher We're going to continue to manage that mechanically and do what's necessary to keep that one going Next trade was a closing trade in WFC. That's Wells Fargo We had an iron condor there booked over 45 percent of max profit. We got a nice contraction there Let me pull up the chart WFC Whoops WFC and What you'll see here is we put this on after earnings implied volatility stayed elevated So we went ahead and put on an iron condor and we got this nice contraction in implied volatility Prices stayed steady enough and we were able to book a nice profit in that one So we were out of Wells Fargo Next trade was a closing adjusting trade in IWM. So we closed out the put vertical side because price breached our break even to the upside and there's little very little value in that put vertical side and So we're still holding that call vertical I was actually hoping to get out of this yesterday when the market was down Unfortunately, it reversed before we were quite to the point of taking it off And so if we take a look at that piece now, it's kind of broken just out of range again It was all the way back here I was waiting to to get to the point where we would be profitable on that iron condor overall Which we were but just not quite enough and Unfortunately, it reversed on us. Hopefully it'll bounce back in and we will be able to do so that's in May and then in June We've also got a full iron condor which is pretty centered down a tiny bit on this one But just waiting for some more time to pass in IWM on that piece Next trade was a rolling adjusting trade in SMH. So had 17 days to expiration So we're under 21 so we wanted to roll that one out to the next expiration And then our puts had very little value left in them So we went ahead and rolled those up from 104 to 111 and So now we are holding the 108 111 short strangle in SMH So if we go to that on our analysis tab, we've got two pieces here the first one Let's look at that roll that we just mentioned so could use a little bit more downside there To benefit that piece we widen this out for you price is hanging out right here in the upper end of that range And then the other piece that we have is This one here. It's an inverted strangle. So again need need a little bit more down movement there but it Just a little bit more down movement. We should be able to get it book a profit in SMH overall Next trade it was an opening trade in KRE So this is one we recently Readded back to our watch list because of the open interest and volumes really good tight bid ask spreads and So we and the implied volatility was nice and high So we put on a short strangle in KRE. You can see this is pretty dead centered right where we put it on If we take a look at the charts You can see it's still implied volatility percentiles at 56 so a good symbol to be selling some premium in and if we take a look at the Trade tab just to give you an idea. I mean there's thousands of contracts being traded around the money And really tight, you know, two cent three cent bid ask spreads. So really becoming a better symbol to trade again and that is the That is the regional banking ETF. So just another kind of diversified symbol outside of just a straight straight stocks It's kind of a sector ETF, which is a Typically good good type of symbols to trade Next trade opening trade in Apple. So this is one that we we put on as a post earnings short put vertical and We posted in the community before before the market opened because what we like to do with these is when price Opens above and beyond the expected move. We tend to have price stay kind of steady to higher And we either sell puts or sell put verticals because we also get a little bit of a continuation in contraction in implied volatility for the next day or two after earnings as well And so we put that one on and and then we Well, I'm not seeing it here. Oh, yeah, there it is. We closed it just a couple hours later There's a couple alerts in between So basically let's go to the chart and I'll show you what we did here And I also just I actually recorded this one live. So I sent out a video But so here's where it was the day before and then they announced earnings and it opened up ten dollars higher The expected move was about nine bucks And so it opened up ten so we wanted to see the price continue higher We sold that short put vertical and it and it shot up that same day So within two hours we got out up here close that out for a nice profit just in a matter of hours Now the next day price actually came back down Well came back down that same day and then went a little bit lower the next day We entered basically the same same exact trade looking for another continuation to the upside We're starting to get that now and And so you can see we're up about a hundred and thirty some dollars Want to get about 30 to 50 percent of max profit on this So hopefully if we can retest that to 15 level that'll get us over 50 percent of max profit So we'll see what happens into early next week on that one. We ended up doing this in May So we didn't go out to our typical 30 to 60 days because we're looking for a pretty quick move here So we stayed in May with with just a couple weeks left Until expiration. So that's where we're currently at in Apple Next next trade alert was in XRT. We did a rolling adjusting trade Down to 16 days to expiration in May at that point. So we rolled out to June So if we take a look at XRT You can see prices just still kind of hanging out here in the upper end of the range So just looking for a little bit of downside to benefit that Next trade closing adjusting trade in DIA So we closed out our put vertical side of our iron condor because it breached the upside break even So we're still holding the call vertical side Very similar to what I just mentioned in IWM price came back yesterday on Thursday when we had that little down move and I was really close to pulling the trigger on this one as well, but just waiting for a little bit more and Price has gone back up a little bit But still within range just waiting for a little bit more down movement to benefit that piece if we do get a pop and implied volatility We might we might consider Adding to this one, but with IV percentile at 27 IV rank at 8. We're just we're just holding this call vertical side at this point Next trade rolling adjusting trade in XLK So this is a long put vertical that we originally put on for that short delta exposure We went ahead and rolled this out from May to June and adjusted our strikes and and to get back to a positive theta position So if we take a look at XLK Here's what that looks like And you can see what we've benefited a little bit since we've done that roll It's come down a little bit just looking for some more downside We're holding this for that short delta exposure and speaking of short Delta We're about three and a half to one on our ratio. So really good spot I really like ideally being in that kind of two to three ratio We we we have a range of you know up to as much as five to one on that ratio But much prefer to be kind of more than that two to three We're about three and a half So it's a good good position if we can get a little bit of a reversal market is up today But if we can get a reversal into next week with a little bit of down movement That's that's definitely gonna benefit our portfolio greatly Next trade closing trade in Apple. That's when I just mentioned that was the same day on that post earnings short put vertical Next trade was a closing trade in XBI. So we put this one on let me take a look Let's take a look at the chart of XBI first This was a this was a great trade We put this on, you know, we had this Big down movement in XBI and then we had this bounce higher And when we have these big pushes down and then a bounce higher a lot of time that sets up Well for a kind of a rollover Continuation to the downside now we put this on when price was about right here middle of this bar Took a little bit of heat on it these for these few days But then it did roll over this week and we were able to book a nice profit on XBI booked over 50% of max profit and we were in that trade for less than a couple weeks Next trade was an opening trade in Apple. So this was yesterday So this was our last trade of the week We did not have any trade alerts today on Friday. Just everything is kind of holding steady No adjustments needed no closes needed no opens and so no no trade alerts today So the last trade was on Thursday and that's when I mentioned we reopened that Short put vertical in Apple looking for a little bit of a retest of those of that 215 level I'd hopefully book a profit in that again. So we'll see what happens Let's take a look at some of our other positions Starting with yes, we've got a long put vertical here that we've been holding for that short delta exposure With today's move prices move back out of range It's up here. So if we don't get a quick move, we'll look to roll this next week Or either way, we'll be rolling it, you know, obviously be better if it moved back into range before we rolled it But we've got in this we've got You know 14 days left to expiration. So we may not even do it next week We've got a couple of weeks to make a decision on that and see what happens Natty gas we've got these two pieces on still in that gas and prices kind of moved down out of our range on the on the put side of both of both of the pieces are using the three strike put and Then we've got the two different calls 2.75 and 2.8. So by and large They're they're right around the same after adjustments and everything we've done They ended up being kind of pretty close to the same So we're just kind of looking at both of these together But could definitely use some upside movement in Natty gas We started to get over the last week or so We've gotten a nice little bounce here if we can get a little bit of a continuation to the upside that would definitely benefit our Natty gas position in wheat we've got two pieces on here, we've got a Short-put vertical that was part of our previous iron condor price came down breached this break even so we closed out the untested side Now just looking for a little bit of upside to get back into range on that piece And then we've got another full iron condor here, which is dead centered We've got some profit just waiting for some more before we take that off looking for about 30 to 40 percent of max profit on that before we book anything there and And then wheat we are in June with 21 days to expiration So we've got some time there remember on our uncovered options on our naked naked positions Once we get under that 21 days, then we look to roll out to the next expiration cycle But with defined risk, we're willing to let that go a little bit longer closer to expiration So we're not looking to do anything in wheat yet at this point. I Mentioned Apple DIA I mentioned that EEM. We've got a short call vertical on we're out in June with 49 days to expiration So just looking for some more downside before we do anything there In Facebook very similar to Apple. We put on a short put vertical after earnings Now this one we put on here and then came down the next day and it's just been kind of bouncing around We didn't get that quick up movement like we did in Apple But hopefully we'll see a little bit of a continuation up to about the 200 level and that would give us a chance to Book profits in Facebook Intel we put this on as a short strangle after earnings. They came out with earnings, but the implied volatility crush Just got a little bit of a crush and so we there was still some elevated premiums in Intel So we put on a short strangle and it's just been kind of grinding lower and then popping a little bit higher today Starting to get more contraction in implied volatility So we've got a little bit of profit here about 70 bucks But just waiting for some more profit gonna try to book between 30 and 50% of max profit in this trade IWM I mentioned that one IYR we've got it kind of a tight iron condor here Price is hanging out up here need a little bit of downside movement to benefit that KRE I mentioned NVIDIA. We've got this short call vertical here. We've got some It's well within range just looking for some more downside on that piece QQQ I was considering rolling one of these but I'm gonna wait till next week Just you know prices out of range. So we are in a negative theta position I'd like to have these more in a positive theta meaning price is within the range But but price has been kind of hanging out up here with the market being strong So just wait there's still you know, if you look at the gray the gray box here You know, you've still got within the one standard deviation move You've still got a realistic probability of price getting back into range if it goes down But so that's why I haven't rolled yet and we've got a couple weeks to do something And so next week I'll definitely roll one of these and then we'll potentially look to to do something with the other depending on where Price is so look for that next week. I mentioned smh spx We've got a calendar spread on here when price made that down movement on Thursday We weren't I want to book about 20% of profit here. So we've got about two grand. Yeah, 1994 is kind of the max max Max risk on this and also the capital needed Toss is kind of freaking out on me here getting give me squiggly line. So let me get back here So we didn't have enough profit to book at that point So we need a little bit of downside movement if we can get a quick down move next week We'll be able to book a nice 20% profit on this if not, you know, these we've got about 14 days left So there's not too much 13 days left. So there's not too much of an adjustment we could do We could potentially add another calendar in that last week I don't necessarily like to do it that close to expiration, but that is an option And so we'll see what happens. Hopefully we just get a nice quick little down move and we're able to book a profit or If it gets closer to that break even we may just close this out take a tiny profit Even if it's not the the amount of profit that we want Depending on you know, this is a function of price and time So depending on when it happens if the price just kind of hangs around here for a while We'll see what happens and we want to book this, you know within the within expiration week. So We will see what happens there. Hopefully we just get a quick down move SPY we've got this short call vertical spread on just moved barely out of range today So just looking for a little bit of downside to get back into range on that in Walmart Excuse me, we've got a long call on this is a pre earnings long call Earnings are on 516 before the market opens. So we want to be out of this by the 15th of May So if we get a quick move higher next week, we can book a profit and that's the that's the game plan here So you can see price has just been kind of bouncing around we we put it on up here And we were actually close to getting to the point of booking profits on this day and then the next day boom it Price dropped and it's come back up some and just been kind of bouncing around here So if we can get a little bit of a move higher That that's what we're looking for in Walmart. I mentioned XL K XL V So this is the healthcare ETF We had that that big down movement which which spiked implied volatility and so we sold some premium here Now price is really just rallied On us and is kind of in the upper end of the range now that iron condor if it moves much closer We'll close out the untested side with implied volatility depending on where that's at We may look to add to it if implied volatility pops higher But if it does stay lower, we'll just manage that untested side and and go from there And then I have already talked about XRT. So that's all the alerts. That's all the positions Everybody have a great weekend and we'll see you next week