 Hey everyone, welcome to this weekend's video update today's Friday, November 6th Hope everybody had a great week of trading looking at the markets S&P 500 specifically basically closing flat down five Dow is down a hundred Nasdaq flat and Russell down almost a percent. So Weakest of the bunch oils down three and a half percent if we take a look at Well, let's look at the SPX first and look at this I mean, there's the closing bell. I mean volatility is getting absolutely annihilated since the Post-election and of course the markets climbing as well So that is also adding to the volatility contraction if you look at it in the form of the VIX Starting with the VIX futures, which are down almost 8% down 8% today. They've gone from 36 all the way down to 25 If we look at the spot VIX spot VIX has gone from 41 down to 25. So I mean just absolutely Ball crush is going on after this election. All the worry is gone. I guess What else do we got here? So that's what's going on in the market. So what am I looking at going forward? Well, I mean initially I was looking for Pre-election to get some upside momentum going into pre-election. It did just kind of flushed down and now we're getting that rally This is the all-time high in the S&P. I mean, it's a pretty much foregone conclusion That we are gonna blow through that The question is how are we gonna get there? Are we gonna get any type of a relief from this rally? I mean, this is just I mean, look at these just explosive higher days Monday Tuesday Wednesday Thursday taking a little bit of a pause today But you know, like I said, I think we are just up and roaring now I talked about this a little bit in our day trading live sessions and that is why you know Why is the market rallying specifically? Why is tech so strong and to me? I think, you know, we've got It's pretty much a foregone conclusion. We're gonna have a split government Which basically means nothing's gonna get done for the next four years. No new regulations. No new, you know issues going so for me It looks like the tech specifically, which is what drives this market tech is so big It's such a big part of this market that it's just full steam ahead. I mean, you know, nothing's gonna change So let's just rip and roar also with you know, the extension of the stay at home and Coronavirus fears and everything else going on, you know tech is benefiting from that too. So In at least the short term, I think we rip through new highs. What whether that happens next week or take several weeks to get there That's what I'm looking for as an anticipation Now we still have a little bit of short Delta as well as we go through the positions We can look at that but less than one to one on our ratio. And so You know, we're gonna keep some short Delta in case this thing does fall apart But we can still profit if this thing rips higher and that is the plan So let's go through the alerts actually before we jump into the alerts. Let's talk about day trading So for the week of 11 to Plus let's go back here Plus two thousand two hundred and seven dollars and fifty cents on the week I had a red day a red week in the mighty 90 and really this all came down to one day that I just had kind of a blunder between the ears and And took some big losses that shouldn't have been taken and that continues to kind of be the story with the mighty 90 I know we've got some other members that are just absolutely killing it with this strategy And so it is I mean it just continues to be a mental game and honing your mental discipline And that's something that I continue to work on. So I talk about this in the daily Recap to for day trading which is posted in the Facebook group if you want to check that out for more detail But you know one thing about one thing to keep in mind about what I'm showing you here I'm not showing you this shit to say. Hey, look how much we may look how great we are or This is how much this strategy makes or anything like that It's all about just it's more of a journal for me and me showing you and Really talking more about my losses than my wins Because that's what you learn from and so hopefully you can take from that and make yourself a better trader without actually incurring some of these losses And so hopefully that helps and that's that's the goal of these daily recaps and specifically on the day trading So hopefully just keep that in mind as you're as you're watching those each day So a little red in the mighty 90 Small positive on the pair straight just three trades two winners one loser plus 116 And then the runner continue runner strategy continues to be awesome. I mean plus 3046 dollars and 50 cents on the runners a little bit higher win percentage this week almost 60 percent Which really showed some positive P&L from that Really on this on runners if I really just being over 50 percent win rate is Completely fine because I cut so many losers short quickly that I'm going to take You know a decent number of losses, but if I can get into that 60 percent. Well, then that even is better So that's it on the day trading like I said more detail on the actual day trading recap if you want to check that out Let's jump into the alerts starting with Monday XBI so we had this short strangle that would be managing adjusting rolling ended up closing it out We're at 21 days to expiration under 21 days. So we needed a roller close We decided to close it reduce that exposure before the election. So we're out of that one Book to profit there overall SMH short strangle, we decided to keep this one on so we rolled it We're same situation. We were under 21 days. So we ended up rolling it to extend duration. So let's take a look at SMH Up about a percent and a half today following the market just ripping higher SMH is at all-time highs So kind of leading leading strength over the the other indices The prices is in our upper end of our range now if we look at the untested side the puts still got a decent amount of premium in those So we're not looking to roll those puts up yet If we can get a little bit of a pullback we'll get right back into range here And so we'll continue to manage that as needed SPY opening adjusting trade so we added another iron condor in SPY did this out in Dease I could see the volatility really contracting after the election. So this this was put on after the election So I wanted to get it on before it completely fell apart, which it is starting to and I'm talking about the volatility But let's look at SPY. We've still got two different iron condors on here's the one that we just put on What's up about 55 bucks since we put it on the other one is Now pushing Towards the upper end of the range if we get a little bit of a pullback Into next week. We'll close that one out and book a nice profit. I'd like to get 40 50% of max profit on that But that one's got how many days to expiration and no 14 days So hopefully we can get a little bit of a pullback next week and just close that one out Next trade SPX. So this was an iron duck that we had in SPX after the election as the market rallied Just fired up down the beaks. So we just let that expire and booked a hundred ninety dollar profit in SPX Next trade opening trade in Qualcomm. So this was a post earnings long call So earnings after earnings Qualcomm opened up well beyond the expected move. So if you take a look here I just marked it with this line here. That was the expected move It opened up way up here as price started to come down. I took this live in the day trading room We got in about right here and it immediately bounced back up and then today just kind of traded flat So if we take a look at Qualcomm were up a hundred and thirty bucks on the trade. I'm looking for 50% profit So we're in this for 950. So I'd like to get four or five six hundred bucks out of this Which would get us back up to about the 150 range so if we can get it just a small push back up to above the high of Wednesday, we'll take that off and book a nice profit. So that is the plan there And that's just like we teach in the course if a if a stock opens above its expected move Many times it gets kind of goes sideways and pushes higher sometimes it just shoots higher So that's what we're looking for out of Q-com Next trade closing trade in SPX. So this was a iron duck again price ran higher instead of Waiting all the way until expiration. We just closed this out and and booked big profit on that trade So looking for a pullback once we you know if we get a pullback in SPX After this, you know significant rally that we've seen post-election if we just get a pull I just I'm just waiting for a little pullback to add in an iron duck. So we'll hopefully get that next week We did do a weekly calendar though in SPX. So we added that one on the fifth. So let's take a look at that You can see with the contraction today between the front and back week Starting to get a little sag if we can if we can get some downside in some a little bit of a pop and implied Volatility should benefit this into next week. So we'll close that out either Thursday or Friday next week If we get a big move either direction Monday or Tuesday, I'd like to put on another one of these But I just I don't want to load up at the same price point. This one's dead centered Next trade opening trade in Roku. So we did an earnings iron duck in Roku And we did an earnings iron duck in Peton Now before Before earnings in Peton We did have a pre earnings long call that we ended up closing out before earnings So let's take a look at that really quick So we went when price came down here. We were looking for a bounce going into earnings It started to bounce and then just flushed out with the rest of the market falling Started to rebound a little bit, but we got out on this day here after that bounce Did not get To a point where we were able to profit on that trade. So it took a little loss on that one the earnings iron duck So the oh It's just after three o'clock central So the the market just closed and so I'm actually getting ready to send the expiration trade alert on this But you can see it'll expire up here in the beak We don't need to close it out because it's not between the short and long call So we have no risk of assignment. So we're just going to book the beak profit Which in this case is small 39 bucks and Same thing in Roku So Roku up over 12 and a half percent today Way up the beak a little bit better beak profit on this one. So we'll book a hundred and ten bucks So I'll be sending those out. So by the time you view this you will have received those expiration trade alerts And we just booked though book that big profit. These positions will disappear Come after they officially expire All right, so those are all of our alerts. Let's take a look at some of our other positions We've got some short delta positions that with this rally have have kind of gone out of range Specifically, we've got this long put vertical in ES which is out of range. So we'll look to potentially close or roll that Next week this one has 14 day yet. It's a nove. So it's got 14 days to expiration. So we'll deal with that in the next week or so Natty gas. We've still got this short strangle that we're managing. We've we're up about $280 since we did our last roll. So just waiting for some more time to pass in that gas ZB and bonds were up about over $1,500 on this piece since we did our last roll One or two more cycles of adjusting in this and and we will be to profits. So I'll have to I'll have to double-check on the I need to check where we're at in the overall P&L and that but I'm working nicely and so hopefully we will get to profits here shortly in that one. We've got 48 days left expiration So we've got plenty of time But if price you know moves up to center will be over 50 of max profit And so we will want to go ahead and just lock that in and either extend duration or close it depending on where we're at Apple we've got this long put vertical that we're holding for short delta. It's out of range as well And so we will um, we will look to roll or close that that's in november as well And so we'll deal with that one in the next week Same with de John Deere. These are just a few of our short delta positions. This is a short call vertical uh, I need a little bit of downside action to uh, you know, John Deere's been so strong eventually looking for a pullback here and uh to get us um get us a little uh Little benefit to the downside exposure same with di a We've got a short call vertical at a range again. These are these are all in nove So we'll we'll deal with these in the next week or so We'll roll some of them close some of them and just continue to manage that at uh portfolio delta Same with iwm That one's out of range as well. I mean these these uh big pushes just kind of pushed us out of range And so uh, but you know, again, it's it's one of those things you've got to have that for that downside For that downside risk This is just a period where it's we're it's pushing up on us. And so We're taking the heat on those but still booking profits other places that still continues to increase our overall net liquidity Our overall count value I showed you peton Q com cues another short delta position Uh, just outside of range and a little downside to benefit that one Showed roku smh spx spy lastly xlk another short delta kind of in the same situation Those are all just outside of the range all in nove. So we'll be dealing with those in the next week Uh, so that's it. Those are all the alerts. Those are all the positions. That's that's your recap Look at this vol crush in xlk to you. I mean, that's just an absolute crush Uh, so we'll be looking, you know, we're not gonna be able to sell too much premium Because we've got now or I mean, we've been in such a high vol volatility environment all the way since february And now it's a situation. We're just getting crushed. So We're going to be relying on some shorter term trades not as much premium selling iron ducks weekly double calendars Um, and we've got a brand new strategy coming your way. It's called the vertigo strategy I'm super super excited to to share this with you. It's just been Extraordinary, uh, so that is coming just to give you a kind of a date We're targeting the official live class on december 17th. So mark your calendars It'll be in the late afternoon after the market closes three four o'clock central time Uh, we'll be sending out more details on that but mark your calendar December 17th is when we'll be actually presenting that So super excited to share that with you all everyone have a great weekend and we will talk to you next week Thank you