 Happy Friday, Navigation Traders. Today is November 10th. Hope everybody had a great week of trading. Before we jump into the alerts, just wanna make a quick reminder announcement about the course on trading options on futures. If you're in your members area, you can just go to premium upgrades, scroll all the way down to the bottom. Trading options on futures for max leverage is the new course. And that'll take you to this course page, or you can just go to navigationtrading.com forward slash futures. And there's five, a little over five days left to get the special early bird special for only $49 after next Wednesday, Wednesday of next week, that's gonna go up to the normal price of the course for $199. So if you're interested, make sure you check that out. I have been getting several questions from members about the corresponding ETFs to the futures and those that you can't use with implied volatility and those you can, so all that's answered in the course. So if you're trading futures, this is really a must, check it out, and to get it for just 49 bucks is a steal. So check that out if you're interested and let's jump into the alerts for the week. So a lot going on, implied volatility is popping higher, which always gives us more opportunity. So that's always fun. This is when trading is really fun. You know, when we are in periods of super low implied volatility and there's nothing to do, that's when it can kind of become a little bit of a grind. You start doing stuff you're not supposed to do. But now is the time that it gets a little bit more fun and we've only had two down days in a row in the market, in the stock market, but it feels like the market's crashing, doesn't it? I mean, it feels like this thing's just been rallying forever and ever and ever. So a couple down days in a row has really helped, not only increase implied volatility, but it's helped with some of our positions. The first, let's jump into the first trade. First trade we made the week on the sixth was a strangle in FXI. So IV percentile popped up to around the 69 level. And so we threw on a strangle. And so let's go to FXI on the platform and take a look. So you can see, still well within our range, no profit, down a little bit on the trade right now, but if we look at the charts, you can see implied volatility still above that 60 level on the percentile. So we'll continue to watch and monitor FXI. And that's the Chinese large cap index. Next trade was a closing trade in Nat gas. So made about 40% of max profit on that iron condor in Nat gas. If we check the, this is one that you've got to look at the corresponding ETF in this case, UNG. And you can see implied volatility is still very high. And so, but we ended up putting on another iron condor this week in Nat gas. And you can see it's still very centered in our graph here. So Nat gas continues to be a great vehicle to trade. It gives us that diversification, that uncorrelated exposure. So it's not correlated to stocks or bonds. And I love having those uncorrelated assets in our portfolio. Next trade was in closing trade in Apple. So after Apple announced their earnings, we put on a short put vertical, took a nice profit of over 40% of max profit just within three days. That's the trade that we teach in our earnings course. So after earnings, Apple jumped up beyond its expected move. Put the chart up here. So after the earnings announcement, Apple popped up above its expected move. We sold a put spread right in here. And just like it normally does, Apple rallied nicely, gives the chance to book that profit and take it off within just three days. So that's a nice trade. One of my favorite post earnings trades. Next trade was a closing adjusting trade in wheat. So we continue to work our way back in wheat. We closed out an iron condor, booked a profit in that piece of the trade. We're still down some, but we're continuing to add positions, take them off, book those profits and work our way out of what was a hole. And for those of you who were in that trade, you remember this big, huge down move, and a one directional move with very few pullbacks in wheat. And so when that happens, that's gonna bust out of our range. We're gonna have to continue to adjust. And then ever since then, wheat stayed pretty range bound, which is very typical after a big move. And so we're just continuing to collect those credits, book those profits and work our way out of that hole that. So when you have a big move like that, you just gotta remember you're gonna be in that trade for several more months until you work your way out. So we're doing that nicely. Once we're out of this wheat trade, I'm gonna do a whole video from beginning to end to show exactly what we did, all the adjustments we made and how that works out. So we're probably still gonna be in this trade for another month or so, assuming wheat stays range bound, but continue to work our way out nicely. And the key takeaway is just staying mechanical, doing the necessary adjustments and working your way out of those. You're always gonna have, when you have a portfolio like ours where you have a variety of symbols, uncorrelated symbols, you're always gonna have something that's a thorn in your side, right? They don't all just work out exactly perfectly where you put it on, take it off, put it on, book a profit, right? So you're always gonna have those extended moves and knowing how to treat them and knowing how to adjust is the key to your consistency long term. So I can't wait to finalize that trade once we get out of it and I'll put together a video really recapping the kind of the anatomy of that entire process. Next trade was an opening adjusting trade in wheat. So we booked that one and we put on another iron condor, again to collect more credit. So if we look at wheat on the platform, what you'll see here, so we're still holding this put vertical from our previous iron condor. Price came down, breached our breakeven, so we closed out the untested side. Now price has come back nicely for us and we'll get out of this early next week and book another profit on this piece. Then we've also, the trade alert I just mentioned, we put on another iron condor and prices got a little bit of profit there, not enough to take off still well within our range on that piece. So we'll continue to monitor wheat. Next trade was the iron condor in that gas that I already mentioned. And then we had a rolling adjusting trade in the QQQs. So the NASDAQ, if we take a look at that. So we've got two pieces on in the NASDAQ. This is the one with the alert that I just mentioned. This is the one we just rolled. So this was a call spread that was part of an iron condor holding on to this to keep that short delta in our portfolio as well as look for a little bit more of a down move in the NASDAQ to benefit that piece. And then we've also got this other full iron condor and you can see prices continue to hang out in the upper range. So need some downside to benefit that piece as well. So continue to monitor the QQs. Next trade was a closing trade. We had a strangle on in Facebook and that was a post earnings short strangle. Again, another strategy that we teach in our earnings course made over 30% of max profit in just seven days. So if we get up over 30% of max profit in less than 10 days, we're gonna book those profits and take that off. So that was a great trade. Next trade was another closing trade in the notes. So four slash ZN, that's the 10 year note. We had a strangle on a short strangle on there booked a profit over 40% max profit in just 15 days and got a nice, nice contraction in IV as well as a nice price movement down that day and we're able to book that profit. So a lot of closing trades and then actually quite a few opening trades as well. This week an opening trade in IWM IV popped up to the 69 level on the percentile. So we sold an iron condor. Take a look at IWM, still very centered, not enough profit to take off yet. If we look at the IV percentile, you can see we've got a little bit of a contraction today. So just need a little bit more time to pass and for IWM to stay fairly range bound there. Next trade was a pre earnings long call that we put on today. And so this is then anticipation of kind of an up movement in the stock and a continued expansion in IV leading up to earnings. So they announced on November 28th. Okay, so we've got about 18 days. So looking for a price move up and continued stabilization or increase in implied volatility. If we take a look at ADSK and remember this is not one that's on our typical watch list for income trades, but this is one that I will trade from time to time around earnings. And you can see we've had a little bit of a down move here looking for just another increase kind of back up to the highs. And we should be able to book a nice profit there if that happens. I can see we're up a little bit today since we've put it on. So we're up about 50 bucks on the trade. We wanna get up to about that 126 level, book about a 40 to 50% of debit paid on this one. And next trade was another opening trade in XOP. So we sold a strangle in XOP. A lot of these, and I mentioned this in the notes here in the comments, a lot of these oil related stocks and ETFs are starting to get an increase in implied volatility. And in fact, IV increased a decent amount after I put this on. So if you got, if you were delayed in putting this on after I did, you probably got filled at quite a bit better prices than I did, collected more of a credit. So you can see, still very centered but down a little bit on the trade because implied volatility increased substantially after I put it on. So hopefully you guys got filled at some better prices than I did on that one. And if you look at some of these other ones like, well, you've got CL, which is the oil futures and you can look at the implied volatility there. It's not above the 50 level. In fact, it's down at 29 currently. And then USO, which is the corresponding ETF, it's quite a bit higher. But some of these other oil related ETFs like XLE, which is an energy ETF, it's above the 50 level. XOP, the one we put on, it's at 80 on the percentile now. OIH is another oil related at 71. And so you can see there's some, there's some, the options are getting pumped up in these oil related stocks. So I wanted to get some exposure, and that's just another key to the way that we manage these portfolios. I mean, if you look at our different positions, we've got the ES, which is stocks. We've got NatGas. We've got soybeans. We've got wheat. We've got Adobe and ADSK and Baidu, which are individual stocks. We've got the Dow. We've got Brazil. We've got China. Another US stock, IWM, small caps, NASDAQ is tech stocks. XLV is the healthcare. XOP, oil, XRT retail. So having all these different positions, some stocks, some of the stocks are somewhat correlated, but some of these other positions that are completely uncorrelated to stocks. And that's one of the keys is making sure that you're in a diversified symbol and not just loading up in one category, and that's really gonna help your consistency over time. So, got that piece in XOP. And then lastly, we did a roll in DIA. So we are still holding this short call vertical from what was previously an iron condor. We rolled that from November to December, and we rolled the strikes to the 235-238 strikes. And so if we take a look at DIA, what you'll see here is, yeah, we've got the short to 235, long to 238. So just holding this for, again, for some short bias in our portfolio. So looking for a down move to benefit that piece. And so those are all the alerts for the week. Let's go over some of the other positions that we have in our portfolio starting with ES, which is the S&P 500 futures. So we've got this iron condor on. We've been in this trade for about a month and price has just really been hanging out in this area, in our upper part of our range, not giving us a chance to book a profit. So need a little bit of a down move in the ES. We've got, we're running up against it here. So we've only got seven days before those options expire. And so what we'll look to be taking this off early next week. And so hopefully we get a little bit more continuation to the downside in stocks. And if we do, we'll go ahead and book that one. We've got these other two verticals on. So we've got a long put vertical. And we will look to roll this early next week because we also only have seven days to expiration here. So we'll look to roll that one to keep that short, short bias in our portfolio. And then we've got another very similar trade on. And this is what was part of an iron condor previously, but very similar. And we'll look to roll this next week to extend duration on that. And continue to hold that short bias, short delta in our portfolio for protection in case of some additional down move. And with implied volatility popping the way it is, I mean, that options are one of the most predictive vehicles in the markets from a standpoint of implied volatility. I mean, we've had just two really minor down days, but with implied volatility is shooting up. That shows that there's a little jitteriness in the market. There's a little bit of, everybody's a little bit on edge. And a lot of it is around the tax reform that's coming out from the administration and some different things. But regardless of what the news is, the options tell the story. And that's why it's key to watch that implied volatility. I already mentioned that gas, soy beans. We've got an iron condor on. I actually tried to get filled on this earlier today to book that piece, but didn't get filled. So we're going to hold on, hopefully collect a little bit more theta over the weekend and look to put another one on to collect more credit and continue to work our way out of our soybean trade, kind of similar to wheat, had that big down move. And now we're just continuing to manage book profits, collect more credit, extend duration, put more on, take it off and work our way out of that soybeans trade. Adobe, so for those of you who were in the Adobe trade, they had that surprise announcement, had a huge move up. And so we've got a couple of things going on in Adobe. One is from our original iron condor, we had this piece on that's really at max loss. And so there's no real reason to take this off until my graph would straighten up. Not sure why, oh, there we go. So it just blew through our upside. So we're going to take that off next week because we're deep in the money. So we don't want to get assigned on that. So we'll look to close that out next week. And then we've got this other short call spread on that we'll look to roll to continue looking for some downside and some stability in Adobe. And then we've also got this other iron condor on which price is still fairly centered. And so just continuing to work our way with Adobe and manage our way out of that one. And then, oops, don't need to go there. ADSK I mentioned Baidu. So we've got this trade here looking for a little bit of an up move in Baidu to benefit that piece. And if we take a look at the charts of Baidu, Ivy continues to stay extremely high. So if it stays high in the next week, we might potentially look to add another position on in Baidu to collect more credit on that one. Another iron condor in Baidu. DIA I mentioned, EWZ. We've still got this strangle on, very centered, nothing to do yet in EWZ. I mentioned FXI. IBM had a decent move down, broke through our break even. We rolled down our calls. We started this with a straddle. And if we look at what we've got left in the calls, still got a decent amount left. So nothing to do here yet. If it continues to move lower, we'll roll down our calls again. I'm hoping it just kind of stays where it is or moves up. And then we can roll this entire spread out to January, but not for at least another 10 days or so. So we'll continue to monitor IBM, IWM, I think I already mentioned that. We've got an iron condor, Q's, XLV. So this is one I wanted to touch on. So we've got a butterfly here. I actually tried to get filled and get out of this trade yesterday when price was up here to book a profit of over, around around 25% of debit paid, which is what we want on a butterfly. Never got filled. Price kind of ran away from me to the downside. And what I'll do here is in this case here, so in December, we've got 35 days to expiration. So depending on what happens early next week, if price continues to move down, we have two options. One is we can adjust by adding another butterfly, okay? And essentially it'll look like this where we add another butterfly and that'll widen our break-even, give us a little bit more profit potential, give us more time to be right. So that's one option, if it continues to move down. The other option is even if price moves down to our break-even, we're still gonna be in the profit a little bit. So in that case, what I like to do, depending on the amount of days left to expiration and where IV is and a variety of factors, I might just take that off. Book a little profit of, let's say, 25 bucks and just move on. There are so many other symbols out there with increased implied volatility. So instead of adjusting this, we may just look to take it off, but we're gonna be pretty aggressive about either adjusting by adding another butterfly or taking it off if price continues to move down. Now if price moves up, great. We'll book this profit and move on. So that's just kind of the thought process on XLV going into next week. I mentioned XOP and lastly XRT. So we've got some profit in that one, just need a little bit more time to pass, a little bit more contraction in implied volatility to benefit XRT. So that's it, that's all our alerts. That is all the positions we have in our portfolio. Hope everybody has a great weekend and we'll talk to you next week.