 Hey everyone, welcome to another video lesson from Navigation Trading. If you like these videos, make sure you subscribe to our YouTube channel and we will keep cranking them out for you. So in today's lesson, I want to talk about a symbol that we're currently in and that is Apple, ticker AAPL. So if we go to our Analyze tab, what you'll see is we've got a bearish position on, a long put vertical in Apple and the price has moved significantly against us. So where we're at in the trade is we've only got about nine days left to expiration. And so in this case, we want to roll this put vertical from the current expiration out to the April cycle, so to the next monthly cycle. So if we're looking at the charts here, the thought process is if I think that Apple is going to continue higher, then I just want to close out of the trade. But the other piece of this is within our portfolio, we like to keep a short directional bias. And with a short position in Apple, I'm looking for Apple to drift lower to get a little bit of a downside for us and it also keeps some of that short delta in our portfolio that we like to have as premium sellers. So in that case, I want to keep this position on. I want to extend the duration. I want to give ourselves more time to be right on the trade. So to set this up, simply go to the Analyze tab and we are going to roll this position. Now before we do that, I want to show you one thing that I do is kind of a little trade hack, a little cheat sheet to give you an idea of where that's going to go. So what I would do is I'd go to the Trade tab, go to the expiration cycle that we are going to be rolling to, and set the position up so that we look at it as if we've already rolled it. So if we take a look, we currently have the 160 short put and the 170 long put. And so we essentially want to move those strikes about 10 points up. So what we would do is we'd click on the put side on the 180 and say buy vertical and then change these to 10 points wide, so that'd be the 170. And then what we'll do is we will just take this over to the Analyze tab and take a look at it. And then we'll click off of our current position. This is what it would look like if we rolled it, which is what we wanted. We wanted to just shift the graph down and be more centered around price. So if we get a little bit of down movement, we can then book those profits and extend that duration into the next expiration cycle. So those are the strikes we wanted. I just want to show you how I look at this before I actually roll the trade to get a good idea of what that'll look like after the roll takes place. So we can uncheck that. We can highlight our current position and we can right click, create rolling order. And you click the first one, which is buy vertical roll. Now what this is going to do, it automatically populates to the next expiration cycle. But we don't want to roll it out just one week. We want to roll it out to the next monthly expiration, which is April 20th. So we got to change that to April 20th. And then we also have to change our strikes because it kept our strikes exactly the same as our current position. Well, that's not what we want. We want to be long the 180 and short the 170. Take it over to the analyze tab. And if you click back on your position, see, it's not going to give you an accurate reading of what that trade will look like. So that's why I initially set this one up. So it'll give you an idea of what that looks like. But you can see when we roll the position, we're essentially closing out our current position, which is the 170, 160. And we're rolling that to the 170, 180, and we're rolling it from March to April. So you're able to do that all in one transaction. And so that's what we're going to do. So now one thing to keep in mind is you'll notice that we are paying a debit to do this roll. So when we roll, we like to roll for a credit whenever possible because that just adds up. And then when we close it out, we're better off. In this case, because we're buying a put spread initially and we're rolling it, we're going to pay a debit. And so that's what going back to what I said at the beginning, if you're looking at this and you say, OK, I think Apple is going to move higher, you may just want to close out this trade. I'm keeping this on because I have a short directional bias in Apple, and we need that extra short delta for our overall portfolio. So that's when it makes sense to do this roll. If it didn't make sense, I would just close it out, take the loss, and move on. But again, in this case, we are going to roll this. So we can simply click on this and hit confirm and send, send. And we got filled right at 390 at the mid-price. So now we're in the trade, like I said, it looks exactly like the theoretical position that we initially analyzed to take a look. So now we're in the trade, now we just need a little bit of down movement in Apple, and then we will continue to monitor the trade as needed. I hope that was helpful. If you'd like to learn more about how we've taught over 10,000 members how to trade options for consistent income, just go to our site, navigationtrading.com, click on the big orange button and we'll give you immediate access to our flagship course, Trading Options for Income. We'll also give you the navigation trading implied volatility indicator that you see on our charts, along with the watch list that we use to trade the most profitable symbols day in and day out. All this is yours, no cost, just go to our site, navigationtrading.com, and we look forward to seeing you on the inside.