 What's up navigation traders Friday, August 21st welcome to our pro members weekly video update Let's talk about what's going on the markets first Starting with the S&P. I mean look at this range and not just I mean here's this week You know, I mean just what a what a tiny range, but even going back into the end of last week I mean we've been in a pretty tight range You'll notice the the ranges on our days are getting more narrow Obviously the volatility is contracting VIX is still at 26 though So there's still decent premium to be had in these options for a lot of the strategies that we use but Man, I mean, I think it was back here. I said boy I hope we don't start going into one of those grinds that we that we've seen like in 2017 2019 in the markets But unfortunately that is what we are seeing just a slow methodical grind higher Now if you look at the range of today a low of 33.56 high of 33.96 so still a 40-point range which relative to times in the past Excuse me. That's still That is still a decent range Excuse me, so We're you know, you got to just play the cards your dealt right so we're just going to continue to Manage our trades the way that we do and you know continue. We've been layering in a lot of new iron ducks You know, of course when this mark is just going up we're booking beak profit beak profit beak profit haven't hit a duck head in a while But it'll happen Just be patient And so that's the plan one interesting thing Look at look at the difference between the Nasdaq and the Russell and we've been talking about this in our day trading live stream About the correlation between the indices we've been talking about it every day But look at I mean look at what the Nasdaq has done. Okay now compare that to the Russell I mean these things are moving in opposite directions. So, you know, look at come Monday and we'll do this in the day trading room It won't be an alert or anything But you know how that makes me want to put on a pairs trade to go long Russell short Nasdaq To see if that that pair kind of comes back See if that the difference between those pairs kind of comes back and and we'll be speaking of pairs trade We will be rolling out the the presentation of the pairs trading strategy And we'll be doing it primarily as it relates to day trading, but there's some swing trading Opportunities as well. So we'll be talking about that Speaking of day trading. Let's just go there and jump in and talk about what we did this week So this was the first full week of live day trading. So Every morning from 8 30 a.m. Central to 10 a.m. First 90 minutes in the market We are pounded out the mighty 90 the new strategy. So it's been awesome total profits for the week 4,640 break it down by the day. So Monday the first day Minus 70 bucks and and this was one of the days. Well, this was the first day toss completely went out So we didn't have our charts. We didn't have our the indicators or pivot lines our high open low close And and so it and it literally kind of happened about 10 minutes after the market opened. So we had to improvise We do have the day trading indicators now on trading view charts and they're free The trading view charts are free. The indicators are just going to be put in the day trading course They're not there yet. So don't don't go looking for them quite yet I've got to still review a couple things just to just to make sure that all is well and good But I think they're they're good to go So thank you to Jake Lewis one of our trade hackers who stepped up and in get that got that done for us So that was Monday. So we took a little loss We we stayed really light and just didn't even place too many trades because we were just our tech was not there for us Next day toss was down again, but we were ready for it So booked a profit of 313 on the day the next day was the big one and this was this made up a good chunk of our profits for the week and specifically a pairs trade that we did in Silver versus gold. So 2950 on the silver side 340 on the gold side also did another pairs pairs trade in Nasdaq versus Russell booked a couple hundred bucks there and Then the others were mighty 90 trades. So great day on the 19th And then Thursday, which is yesterday $190.50 the only the major loser there was Nvidia and this was actually two different trades So I talked about this after the after we got done streaming or after we get done trading on the live stream That was two different trades. So I lost a few hundred bucks on each one I didn't trade it bad. In fact, you know looking in hindsight, I would have done the same thing again So sometimes the bad guys just win and that's what happened there So overall booked a profit decent day and then Friday to end the week nice nice Nice profit of 915 now my biggest mistake this week And if you were in the in the live stream, you know what I'm talking about and that is apple never should have even been in this trade lost 480 dollars should not have been there and You know, that's just that's just part of trading. Sometimes you do stupid stuff and you pay the price So is what it is but overall again great week of $4,640 so we will be streaming live every day next week So get ready if you're not part of the day trading stuff. Make sure you sign up and And be there. It's in the live straight live stream trading room It's at the when you log in your membership. Just click on live stream and that's where you'll find us All right, so let's go to the alerts for the week starting with Our first trade on Monday was SPX entered a another weekly double calendar So we had already put on one the Friday previous. So this was our second one Did this one the front week four days to expiration back week seven days to expiration So I'll get to the close of that here in just a second next trade closing adjusting trade in SPY So we had had an iron condor We had closed out the put vertical side and we still had the call vertical side remaining and that's what this alert was Is closing that out, you know price continued higher. We didn't want any extra short Delta So we didn't roll this we just went ahead and closed it out and and then we've still got The full iron condor on in SPY, which I'll show you here in a minute next trade rolling adjusting trade in the cues and This is one of our sets of short call verticals rolled it from August went ahead and just skipped September rolled it out to October Because we're in that 60 days to expiration range and we adjusted our strikes accordingly. So let's check out the QQQs to start So there's a bunker. So here. So here's the one that we just rolled This is the one that's in October prices obviously gone up a little bit since we did that roll We've got one other set that's still in September and the price is out of range there So we need some downside to get back into range on that one and then we've also got a bunker in the cues Prices hanging out right here. So I need some downside action to to benefit that one as well Exploration trade in SPY so this is one of our iron ducks in the spy that we just let expire booked a beak profit on that one Did an opening trade in TLT So this is something that we don't do a whole lot, but in this case we wanted to take a bearish position in bonds And so we you know, we looked at verticals and in a couple different strategies but ended up settling with a just doing a just doing a straight long put and To get bearish and so I will I'll show you that in a minute because we actually added to that And I said here we may consider adding to this position if price continues higher this week What did it do it continued higher this week? And so we added to it So I'll show you the platform when we get to that alert Next rate opening trade in target. So this was a post earnings long call So when we woke up the next morning target had announced earnings and price was well above the expected move And so we just you know target is not a super high-priced stock. It's only You know hundred and forty some dollar stock so Instead of doing a vertical we just again bought it an in-the-money long call very little theta decay And we were gonna be in this position for not very long So we went ahead and just put it on what happened was just a couple hours later target Exploded and we went ahead and took this off booked a nice profit over a hundred percent return in just a couple hours Now that even that that's not even included in our day trades because it wasn't really intended to be a day trade This was one of our alerts but we It came off the same day Anyway, so let's take a look at a chart of targe a TGT And I'll show you what happened here So this was the earnings announcement woke up price opened up right here And I and I took this actually live in the in the live stream room as well before we started day trading And the goal and I was talking about the goal is if this if price comes down just a little bit I'm gonna go ahead and get in and so that's exactly what we did. So we hit this thing literally Pretty close to the bottom and then and then right after that. It just fired up and we got out for a little over a hundred percent Return on capital on that in just a couple hours. So great trade in target Tesla opening trade did an iron duck in Tesla. So if you've unless you've been under a rock You know that Tesla has just been absolutely in fuego Cannot stop Tesla to the upside And so let's take a look at Tesla. Let's look at the chart first TSLA, I mean this thing has just been on a absolute tear. I mean, let's just go back a year Or let's just go yeah one year And take a look at where Tesla has come from now like everything else in February and March We had a little downside and so the bottom so just in March. I mean, we're talking mid-March. This stock was it What's the low here the low was 350 bucks Tesla was at three hundred and fifty dollars in March now. It's over two thousand It hit almost twenty one hundred dollars a share. That is just that's bonkers So what what did we do? We we just put on an iron duck and and by the way before I get to that As you can see here on the toss charts There's gonna be a five-for-one split in Tesla. So come at the end of August. It's gonna turn into about a four hundred dollar stock but Obviously if you own shares outright shares of Tesla, then you will Just get five shares for every one that you own and your values won't change and so I Am not happy about that I really like big juicy premium stocks that we can that we can put iron ducks on and things like that But it will be good for day trading because you know that day trading options on Tesla are a little pricey and So it'll allow more people to get in the game on Tesla, which will be cool So so that's what's going on in Tesla So what we did is we put on an iron duck so that we have no risk to the upside and if this thing does come down We've got a huge downside buffer and a good area to book some max profits and this expires next Friday and So obviously since we put it on prices run higher, so we're way up the beak So it's gonna take you know a pretty pretty big downside move for us to get back to max profit But if this thing continues to run we'll just close it out early book beak profit If not, we may just hold it till expiration and let it expire even the beak profit those 225 bucks So not bad at all Next trade Nvidia opening trades. We did an earnings iron duck in Nvidia they announced earning so before the earnings announcement we put this on and Nvidia overnight after the earnings announcement price actually came down and Then ended up, you know getting pulled up with the rest of the market and and ended higher So we ended up just booking a beak profit You'll see here that it's still showing in our positions, but we're just letting this expire book and beak profit It's an it's an $80 profit. So that'll disappear tomorrow and you're you know, you're keeping that that 80 bucks So that's what happened in Nvidia Next trade closing trade in SPX so one of our weekly double calendars just like we've been doing We've been taking one off on Thursday one off on Friday We're gonna start taking more off on Thursday that this this vol contraction between the front and back week on Fridays is just is just nuts and if you know unless unless we get a little bit of a shift in kind of overall Shift in overall, you know volatility You know if we do have you know big down move or something this week and it next week and it and it changes things Then we'll then we'll you know continue on but we're just you know, we're losing we're losing out By holding some of these till Friday and I and I I've watched it happen, too So I don't want you to think I'm I'm not paying attention But we've also had you know previous to the last few weeks We've had some big winners come in on Fridays, too So you don't want to just you know after a couple trade you want to just completely change what you're doing But we've always you know since we've rolled this out the strategy out The goal is always either close it one day or zero days to expiration so that's just the kind of that small subjective part of when you exit this trade and You know depending on what goes what's going on? We may we may still hold one till Friday, but we'll just it will be monitoring the situation For you all you know you you need to make a decision, too You know you don't always need to wait for our alerts if you if you feel like hey, I've got some profit You know I'm not not real. I'm not real confident. What's gonna happen the next day, you know And you want to take it off absolutely do it, you know either Thursday or Friday is just fine So anyway, we book we did but we took this one off Thursday and booked a small profit and then Next trade was opening trade in SPY so we added another duck did this one with 20 days to expiration so let's just go to SPY and Talk about all of our trades in spy. We've got quite a few Let's just go down the line to start with in order of expiration. So here's the first one This is an iron duck and Let's make sure our calendar is lined up with expiration So kick this down to 827 so So we're right here So we've got about a 15% chance of price still getting back to the duck head so if price stays where it is or goes higher Monday, we'll just close that out and book beak profit We don't need to wait all the way to expiration to do so now We haven't been able to so the call spreads a dollar wide right 328 call 329 So to book full beak profit in this case 110 bucks We want to we want to buy this back for a dollar or less Now we haven't been able to do that and so we've just let some of them expire But we may pay a dollar one dollar two if we I'm not I just really don't want to pay a dollar two If you need to free up the capital and you want to pay up another two three four cents to get out You know go ahead, but we'll probably if we don't get at it for a dollar two We'll probably just let it expire, but we'll see where we're at The next duck we have is this one that expires nine three And you can see we still have Put our price slice right there in front of the head Still got a 32% chance that it could back get back to the duck head and we're not at full beak profit So we're definitely not going to be closing that out Too soon and then the next one here is This one expires nine ten So you see how we're just kind of layering into these This one's got a 36% chance still to get back to the duck head So again, we're not we're not looking to take that one off anytime soon and lastly is Our iron condor so you can see we're up a little bit on this one eighty some dollars So just holding this waiting for some more time to pass for some more theta decay Next trade opening adjusting trade in TLT So this is where I said that we were adding to our TLT position So we just bought another put and let me give you my thoughts and show you what we're doing here So one I thought okay. I think the market's gonna continue higher, right? So from that perspective A lot of times stocks have an inverse correlation to bonds And so I said instead of just you know getting long delta by buying You know SPY or some you know getting long stocks I'd rather get short bonds and part of the reason is you know We had this big flush down and then we're just kind of grinding grinding higher And so I'm looking for a continuation to the downside And so that's why we did that and and and you know with with the Fed You know just doing little weird things. I thought you know what this is a good time to get short some bonds and And potentially benefit from that So we got into our first one after it climbed a few days and then again today added this one So hopefully next week we get a little downside action in bonds and we can benefit from those So if we take a look at the analyze tab Here's the one that we put on today at the 172 strike pretty you know No P&L on that one yet, and then this one's down a little bit obviously because price has climbed so That's what we're doing in bonds Next trade SPX opening trade so today we open up another weekly double calendar for next week with seven days to expiration in the front Week 10 in the back and so let's take a look at that SPX not SPY So it's this one here Come on toss. Don't start don't start acting up on me again. So on this one One of the things and I mentioned in the comments of the alert as well is You know we with volatility contracting the other thing I did here's instead of doing like 25 to 30 delta I put these deltas these strikes A little bit closer to the current price and so I think it was around the 34 ish delta when I put these on Let's see what it's at now Sorry toss is kind of jumping out so this one on the call size of 35 delta and now the the put size is about the 30 delta But so just tighten these up a little bit So what that does is it's a little bit lower probability of profit, but potentially higher Max profit and you know in calendars. You don't really have a max profit like you do on Iron condors or something else, but it but what it does is it reduces this this sag in the expiration Tent and so that's that's what we'll be looking to do We remember remember initially in this class when we talked to when we initially taught this we were doing 40 delta So we're doing even closer to the money So we're gonna have to start getting closer and closer to the money which reduces our probability of success But I think you know, that's okay it's gonna it's gonna help out with this volatility contraction environment that we're in and You know, we're gonna continue adding once of price moves higher You know, we'll add another one on Monday just like we've been doing so I like I like the strategy a lot still This week wasn't great had one one winner or one loser But we will we'll continue to trade this thing still, you know, we things can change quick We get a little bit of a down move and implied volatility switches again We're back. We're back in business for some big gains in those trades So we'll continue to trade them and monitor the environment Next trade closing trade in SPX already talked about that that was our second Weekly double calendar that we closed out today And then here's the Nvidia expiration trade for that earnings iron duck that we just let expire So those are all the alerts. Let's take a look at some of the other positions that we have Starting with ES. It's a long put vertical holding for short Delta. We've got two of these Both of them a little out of the range could use some downside to get back in Gold we've got two pieces here. One is this iron condor price is hanging out right here in the lower end of the range And then we've got this other short call vertical, which was part of our iron condor And we took off the put side and prices come all the way back into range We have one of our members in the community. I can't remember who it was Kelvin. Maybe You know price price shot way up here, right? I mean look at a chart of gold price shot way up here and then And you know in that situation in our iron condor price was way out here and the question is you know Should we do something to? You know help minimize our loss on this, but the problem is there was you know, there's 34 days now There's over there's 40 some days left in the trade and so that my comment was no absolutely not You got you got to let these things play out You know it doesn't feel good when it rips through your break even and you think it's never coming back But guess what you know not too long after price did come back now and it's grinded up And it came back against you you got to let the probabilities play out and especially with an iron condor These are defined risk trade so you better be you better be okay with taking max loss if you know If these things get out of hand and that's why we always talk about keep your position size small if it's too big You know use GLD or something else, but we're gonna we're gonna let these play out And and that's what you've got to do with this with the with the mechanics that we have set for you And then yeah, so I showed you the other piece. So we've got these these two pieces 34 days left to expiration. So we'll let them continue I mean it may be a situation where you know this thing keeps going down and we book profits in that one and then this one we end up closing out the Call vertical side and then it bounces back. So, you know Letting price kind of ping-pong around is okay, but and just sticking with your mechanics of How to manage those? Sorry back to the platform Natty gas so Natty gas we need a little downside action in Natty gas I'm sorry. Let me get this visual for you So prices hanging out right here. It's just outside of the range if we look at the untested side the puts There's still a decent amount of premium in there. So not looking to roll up those puts yet Still got a lot of time 35 days. So we are just in wait and see mode Bonds we've got a short strangle still in bonds prices pretty well centered We're up about $1,200 on this since we did the roll So it's it's working well for us to get back to profitability We will look to potentially roll this once we get closer to 21 days But again, we're a lot of time here. We've got 35 days left to expiration now What we might do is we may not wait all the way down to 21 days We you know, this is the next cycle is getting down to be 63 next week it'll be under 60 days to expiration. So we we certainly could roll out next week. We're at about We're yeah, I mean, we're over 25% of max profit. So that would be a possibility as well So we'll be monitoring that and may may roll that a little bit earlier than 21 days if If implied volatility contracts and we continue to get Some some more profit in that for sure Apple the beast from the east up 5% today Busted out of range on our long put vertical holding that for that short delta exposure So need some downside to get back into range there I mean, look at this look at this move in Apple and and similar to Tesla They are doing a stock split on at the end of August. So this one's a 4 to 1 So for every share that you own of Apple, you will receive four shares And so it'll go from a $500 stock to $120 stock Again, I don't like that for these types of trade for my premium selling trades But for the day trading stuff, it'll be a good thing DE had earnings and and popped up a little bit higher So it it popped out of our range a little bit as well with the market closed don't pay attention to that P&L line, but Need some downside action in John Deere DIA we've got a couple sets of short call verticals here One is up about 150 since we since we rolled it and then this one is just outside of range. So Both of those are in September IWM some more short delta positions We've got a bunker here. This one's in November So he's still got some time to hold this and look for some potential downside Action and then we've got two sets of long put verticals So this one if we get much more downside action in the Russell next week We will we'll roll this one and we'll roll this out to October because October has 56 days so we're under that 60 day mark. So certainly we'll look to roll out if we do Have the opportunity to roll that And then the other one Is inside the range as well up about a hundred hundred dollars But need some more downside before we do anything with that one I mentioned in video I mentioned the cues smh So we've got this short strangle now what happened here remember we got assigned on some short calls And so we just bought back the stock and re re-upped on the calls and so You can see we've got about 240 some dollars back since we did that And then we've got you know a good amount of profit in the put so This is one where you know because of the puts already had a lot of the the premium taken out So that's why it looks like We've got a significant profit over 50 percent of max profit But also the reason why we haven't rolled is because we just we just did that with the calls last week But you know, we're down to 28 days to expiration So we will roll this next week. We're not going to wait all the way to 21, but again, we'll roll this out to october Which currently has 56 I mentioned spx spy tlt tesla Did I show you tesla? I know we talked about the iron. Yeah, yeah, we talked about that Xbi coming down a little bit. So we're up about 750 dollars since we did the roll on that one And we'll be rolling this out to october either late next week or the following week And then xlk another short delta position We're going to roll this next week Because it's just gotten a little bit out of range and we need some downside action to get back in So to get it back to a positive theta We will look to to roll that one as well So xlk kind of a lot of tech stocks kind of tracking pretty close with the nasdaq So that's it. Those are all the alerts. Those are all the positions. That's all I got Look forward to seeing you monday for those of you in the day trading room We'll be there bright and early a little bit before the market opens And uh look to do some mighty 90s. Everybody have a great weekend. Talk to you later. See you