 Hey everyone, welcome to this week's video update. I hope everybody had a fantastic week of trading. Today is, I'm actually recording this late for actually early Saturday morning, it's about midnight. Sorry, I'm traveling so I didn't get to it earlier, so sorry for the delay. But let's jump right in. Starting with Monday the 18th, our first trade was a rolling adjusting trade in 60s. So we had a short strangle, already had been adjusted, got down to 18 days to expiration, needed to roll that out to the next cycle, kept the strikes exactly the same, just extending duration, collecting a credit on that roll. And so here's what that looks like now. We could use a little bit of up movement to get back into center on 6E, the price is hanging out right here in the lower end of the range, we're up about 365, since we did that roll. Next alert was closing trade in SPX. So we had an iron duck in SPX, went ahead and closed that out a little bit early, price ran higher, little chance of getting back to the duck head, so we just booked that and so we could redeploy that capital instead of waiting all the way till expiration. Next trade was an opening trade where we opened a new weekly double calendar in SPX. We did this one with four days to expiration, the front week, so we had two on at this point. They both expired today or just on Friday this week at the end of the week, so we actually closed one out on Thursday and then we closed the other one out today and took a tiny loss on the one we closed out Thursday, it was right near the break even and then the one today we booked a nice profit on. So I'll touch on those here in just a second. Next trade, opening trade in SPY, so we added another iron duck, so we've got two iron ducks on with 10 days to expiration. So let's take a look at SPY. We've got several positions in SPY, so let me break these all down for you. So we've got one iron duck with six contracts and you can see prices is way up the beak here. I set my price slice, so I just have one, let's bring it up here. Now the market's closed, so this may not be that accurate, but we're getting below 15% probability of getting back into the duckhead, so if price stays here or runs a little bit higher in the next week, we'll just close that out and book that beak profit on that one. And then our other duck is the one here with seven contracts and you can see prices up the beak here, but still have a decent chance of getting back into the duckhead, so we're not anxious to take this one off yet. Then we also have an iron condor in SPY and you can see we're up about 280. So if we get a little bit of down movement, we'll be over 40% of max profit, so we'll close that out. I would like to add another one in July as well, so hopefully we get the opportunity to do that next week. Best of the best of the best would be if price moved lower into center here, booked over 50% of max profit, which also spikes implied volatility, we put another one on, that would be the best, so we'll see what happens. And then lastly in SPY, we've got a little bunker here, we're pretty close to where we put it on, not much P&L, so just holding onto this for some of that short delta exposure. Next trade alert was opening adjusting trade in wheat, so we added an iron condor in wheat and then the very next trade was we closed out our remaining short put vertical that we had from our previous ones, so we booked a nice profit on that one and then we added this new one in in the next cycle, so you can see it's pretty much centered. Now markets are closed here, so this P&L is not accurate, but it's dead centered in our profit graph. And then, but yeah, we did not have any trade alerts which is very uncommon, but we didn't have any trade alerts on the 20th, so the next trade was on the 21st was that wheat one and then on the 21st we closed out, that was the Thursday one, we closed out one of our SPX weekly double calendars. I did a little video in the community just to make sure that you kinda understood my thoughts here, if you missed that, here's the link directly to that, you can find that in the actual alert, but basically, it was right down the break even, if we had to move higher overnight and it opened up higher, we had the possibility of losing more than we would want to on this trade and if it moved down, we weren't getting enough profit to warrant the risk we were taking, so we went ahead and closed that out and that's one thing with these is we wanna close these out with either one or zero days to expiration. The other thing is we had two of them on, so we reduced exposure by closing out one and kept the other one on, so now the market opened up the next morning down, so we would have profited in both of these, but obviously you don't trade in hindsight, you got to trade based on the data that you have in front of you, so that's what we did there. Then we added, lastly we added an SPX weekly double calendar with seven days to expiration, so let's go and check that out right here and so you can see it's pretty close to where we put it on. Price moved up a little bit since we put it on, so it's a little off-center, but we've got seven days to expiration, so we'll kind of manage this the same way, we'll either get out if we occur about a 50% of debit paid, so about 450 on that side and then we'll take this off either zero or one days to expiration. Now Monday, the front week will have four days and so we may add another one if the volatility gives us the opportunity. If the volatility is spiking, we probably won't put another one on, but if price moves higher, volatility's contracting, we will put one on because remember, these weekly double calendars benefit from implied volatility expansion, so we want to put them on after a contraction happens to try to get a little advantage on the pricing, so those are the alerts. Let's take a look at some of the other positions here. I mentioned 6E, we've got ES, we've got two different long put verticals here, price is just out of range and so we need a little bit of down movement to get back into range on those. GC, we're almost at 40% of max profit on here, so I'd like to book that one and potentially add in the next cycle here. We're at 66 days in the next one, so next week we will be down into that 60 day range, so I'd like to add one out in August there. Natty gas, it's had some big swings, but it's kind of bouncing around back and forth and now we're right back into center here, so even with those big swings, it's kind of playing ping pong that ended up right back in the middle, so that's working well. We're up over 1500 bucks since we rolled that piece. ZB, bonds, bonds is just, I feel like bonds has been hanging out in the upper end of this range for months. It's not been months, but definitely weeks. Let me take a look at the chart here. I'm looking at ZB. Yeah, I mean, look how flat this thing has been for the last, well, since, I mean, basically since March 23rd, now it's May 23rd, so yeah, two months. I mean, this thing has just been dead flat, which is pretty crazy with the volatility that we're in right now for bonds to be just staying flat like that is pretty interesting. Wheat, I mentioned that. This is DW. Apple, we've got a long put vertical prices out of the range there. We need some downside in Apple to get back into range. Apple really took off strong after it bottomed and has regained, I mean, if we look at the year-to-date percentage, Apple's actually up on the year, up six, over 6% on the year, almost back up to new highs there. DE, another short delta position. We've got two sets of short call verticals. One prices just out of the range there, and then one is just inside the range here. So just holding that for that short delta exposure. Same with DIA, we've got quite a few of these verticals on. You can see prices just out of the range. If I'm looking at both of them together, need some down movement there. FXI, the US markets were up. FXI was actually down 2.7%, which is good for our bunker. I mean, we were up a few hundred bucks on this at one point and then price kind of moved higher on us. But again, we're holding this for that big move, that downside protection that we need if this market really starts to turn over, which at some point we do think it will, just a matter of when. IWM, two sets of long put verticals. These are just out of range as well. So these are both, one is in June. So June still has 27 days to expiration. So we're not in a huge rush to do anything with that. And then the other one has 55 days. So we've got some duration, got a lot of time. So within that cycle, we'll hopefully get a little bit of cyclicality of this just grind rally that we've seen. And hopefully we can do something with those. Same with QQQ, two sets of short call verticals just outside the range, looking for some downside. SMH, we've got two positions on here. We've got an adjusted short strangle, which is hanging out in the upper end of the range. Could use a little bit of down movement to benefit that. I mean, you can see just from, we're up about 480 since we did this roll. If we get a little bit of down movement, we could be up as much as $15 plus $100 on that piece. So some down movement would work along with our bunker. Now this one, we're at a point now where this is starting to sag, blow the PNL expiration line. And so we've still got about a month till we would have to really absolutely get out, but we may get out early and just reposition it in a longer duration. So we don't just sit here and let this theta decay against this, especially if it starts sagging down here around the Death Valley zone. So we'll wanna get out of that here in the next couple of weeks. I mentioned SPX, we just have the weekly double calendar in there. SPY I mentioned, XBI, we've got this adjusted short strangle. You can see prices just outside the range, but if we look at the untested side, we've still got a decent little bit of juice left in those options. So not looking to roll up our puts quite yet and then we're in June. So still got a decent amount of times. We're just holding that for now. And lastly, XLK, another short delta position. We've got a long put vertical. Just looking for some downside action. So lastly, just wanna mention our short delta to theta ratio, we're about two to one on our short delta now, almost two and a half to one on our short delta versus our theta when we beta weight that to SPY. So we've got a decent little chunk on. So a down move, it would definitely be welcome. So hopefully we'll see a little bit of that or at least some two-sided action next week. Hope everybody has a great weekend. Remember, markets are closed on Monday for Memorial Day. So we will be kicking back into action on Tuesday. Have a good one everybody. Talk to you soon.