 What's up navigation traders hope everybody had a great week of trading? Welcome to this week's video update today is Friday, November 17th Before we jump into the alerts just wanted to make a quick announcement here I updated the how to use navigation alerts video So if you haven't had a chance make sure you watch that It really just sets the stage for how to get the most out of navigation alerts Kind of some do's and don'ts of the use of the alerts and that kind of stuff So check that out, especially if you are a newer member So without further ado, let's jump into the alerts first alert that we had on The 13th on Monday and we had a lot of closing adjusting trades when you when you're in that Week leading up to expiration. You know there's expiration week for the November's options You're gonna we're gonna have a lot of closing and adjusting type trades So not as many opening trades this week a lot of a lot of closing and adjustments. So first one Was an adjustment in adobe and this is where we just simply closed out the 155 160 call vertical This was deep in the money. We just closed this out And still holding on to our 175 180 call vertical along with our full iron condor So if we go to the platform and take a look at adobe you can see, you know, I had that surprise Move up on us and then it's just kind of grinded higher since then starting to looks like prices starting to kind of settle down into a range So we've got this We've got this call vertical So we're looking for a little bit of a down move to benefit that piece And then we've also got this another iron condor on here where we put it on to collect more credit give ourselves some more time to Get backs big get back to profit so you can see prices right here well within our range So we're just waiting on adobe. You applied volatility continues to stay really high finally starting to get a tiny bit of contraction today, but Hopefully we'll see see some more contraction in that implied volatility Assuming price kind of settles down here and hopefully hopefully get back to profit in adobe Next trade I talked about the roll So we've got that 180 185 call spread the one I just showed you Next trade was a rolling adjusting trade in IBM So price in IBM continued to move down. This was originally originally a short straddle And so with price moving down we needed to roll down our untested side So we rolled down our 155 down to 150. So we've got this inverted strangle in IBM And you can see how prices just kind of moved moved down after earnings here So we've got this inverted strangle with the 150 call 160 put looking for a little bit of an up move to kind of get back in that range and We we will eventually roll this to January. So we've got 20 some days what do we got here? We've got 20 28 days in December 63 in January. So we want to wait till this gets down to about 45 to 50 days Before before we roll out of December into January, but by doing that we should collect another nice credit and Continue to chip away at IBM Next trade was a rolling adjusting trade in the S&P 500 This was a short call vertical. This was part of what was originally an iron condor We decided to hold on to that short call spread to keep that short delta some of that short bias in our portfolio And so we simply just roll this from November to December and we roll the strikes from the 2550 2580 To the 2590 2620. So if we go to the platform and take a look at ES see where we're at there This is that position here. So you can see now we hold the 2590 2620 call spread and And we're gonna look to put on another iron condor. It's kind of centered around where price is I was Trying to get filled on one on Thursday when we had that big down day and implied volatility spiked but then Yesterday, excuse me, Wednesday was the big down day Thursday climb back up and pled volatility dropped So I'm gonna hold off on that You know if we get a little bit more continuation to the downside and pled volatility pops back up We'll definitely look to do that And if it just kind of stays stays where it's at will still probably put one on next trade was Closing adjusting trade in soybeans. So we were continuing to work our way nicely out of soybean So he'd put that I see on iron condor took it off took a booked a nice little profit on that piece and in XLV We we did a closing trade in XLV. So we had a butterfly made about 20% Profit on debit paid there. So that was a good trade in XLV XLV is the health care Index so you can see implied volatility is is popping back up today So still to stay nice and high. So we may potentially look at a new position in XLV next week Keep in mind. We're kind of in that no man's land right now We've got 28 days to expiration in December and so it's under 30 days and then over 60 days in January so it's not that you don't want to put positions on here, but You know starting next week will definitely be be starting to put inter positions in January. So look for that Next trade was we bought an iron condor back Closing adjusting trade in ES. So we just had three days left left to expiration This is one where price was hanging out all the way on our upper range. I feel it felt like the whole the whole time Finally got that little move down and we were able to book a nice nice profit on that piece I already showed you we still have the call vertical. So we're still in the ES iron condor But we'll continue to to look for new opportunities to add to that one hopefully next week And then we had another ES trade another s and p 500 futures trade. We had a long put vertical So this is totally separate from our iron condor as I stay here This position is separate from our iron iron condor trade This is one that we just simply put on a couple months ago to add some short bias Some short delta to our portfolio. So we rolled that from november to december So if we go back to the analyze tab and Click off the calls and click on the puts so you can see here It's just we need to we need to we need price to move down to benefit this piece But again, this is in our portfolio for that protection Uh, so if the if the market does make a major down move, we're going to have that that bias I talk about this every time But just remember when you're selling premium for range bound type strategies like iron condor strangle straddles butterflies calendars You've got to protect yourself to the downside because the velocity of the moves to the downside Happened quicker than they do to the upside now puts a little bit of a drag on our portfolio Performance when the market's just rallying Seemingly seemingly every day We finally got some downside. Hopefully that's a sign of more two-sided action in the market So want to keep that downside protection on because it will benefit us in the long run Next trade was a closing trade in ADSK. So this was a pre earnings long call That we had put on last week And so we were we were just looking for an expansion in implied volatility as well as a Up move in price got both of those. There's an excellent trade Book that in less than a week for a nice profit there And actually let's go to our trade Closed trades to take a look at what we got there may 232 bucks on that So nice nice profit there The xlv butterfly that I mentioned before that we closed Booked a hundred bucks on that so Closed trades are have been awesome this month. So we continue to book really nice winners in november Let's go back to our alerts And continue where we left off here. So that was the ADSK Next trade was a closing trade where we bought back a strangle in xrt So booked that for just under 50% of max profit. So that was a nice trade in xrt Now xrt I was actually looking to re-enter this today in in the january cycle But it just was not getting the amount of credit To make that I thought was those that was worth it. So applied volatility has come down significantly the ivy percentile is still over that 50 mark So if we get a pop back up, we made a look to enter xrt a new a new position next week So we'll continue to monitor that for now. We're we're completely out of xrt Next trade was a an opening trade that we put on today And that was a post earnings short foot. So this was in footlocker Which footlocker is not a stock that we trade a lot But we really like these high probability post earning trades where if if the price Opens up above the expected move For the for the earnings announcement Then it's typically going to stay higher and and maybe grind or go higher In on kind of a continuation basis. And so that's what we were looking for in footlocker So as soon as the market opened we started trying to get filled and you could do a you could sell short We did short naked puts in this case Because it's only a it's a lower price stock footlocker is a $40 stock We wanted we we used short naked puts you could have used Short put verticals, but I just didn't see and see getting enough credit because of the low price of this stock So yeah, we got in when price had moved down to about here. So we're up a little bit on this trade Up about 70 bucks. Uh, I want to take at least 100 150 200 bucks out of this trade So hopefully in the next week we see a little bit of a continuation higher in footlocker next trade And uh, this was also today we opened a new trade in E w w which is the mexican etf This is our first position that we entered in the january cycle. It's got 63 days to expiration Looking for a 30 to 50 percent of max profit To book a winner in E w w. So as you can see we just put it on today So still pretty centered in our range E w w the ivy percent I want to put this on was at 60 So we've already got a little bit of a contraction there So we'll continue to monitor E w w And lastly last trade was an opening adjusting trade in Baidu So this is one that we had on originally an iron condor earnings play And it made a pretty decent move to the downside. So we adjusted that so let's go to the platform And I'll show you what we've got on in Baidu now We've got uh, that's not what we want Baidu So we're going to analyze tab. This is the the alert that I was just talking about We put on a new iron condor as an adjustment here And then we're also holding our short put vertical Here so we want price to stay kind of higher to Range bound and and hopefully we can benefit on both of these pieces And in book a profit in Baidu So you can see after earnings we had that decent move down and then prices just kind of stayed fairly range bound here So continue to monitor Baidu This was a good one put on ivy percentile over that 50 mark So just collect more credit extending our duration giving ourselves more time to be right Let's take a look at some of the other positions still got a knack gas iron condor on And you can see price is still well within our range here not enough profit to take off if we look at the Uh, corresponding etf ung you can see implied volatilities continue to stay high one of the higher Higher ones on the board at this time. So continue to watch ung Soybeans we've got an iron condor on in soybeans Still well within our range here just trying to work our way back to profit in soybeans In wheat we've got two different positions on we've got our iron condor here Not enough profit to take off yet, but very centered and then we've got our Short put vertical price kind of when we originally adjusted this price broke down Through our break even now prices moved back up nicely just need a little bit more move up We've only got a few days left seven days left to expiration. So we'll be getting out of this piece Regardless of what price does but looking for a little bit of a price move higher To hopefully book a book a small profit out of that piece the iron condor I mentioned adobe So we've got this full iron condor on in adobe And we've also got the Short call spread So I need a little bit of a down move to range bound in adobe to benefit that piece I mentioned by-do di a we've this was uh previously an iron condor And then we've rolled this short call vertical to keep some of that short delt in our portfolio So just looking for a little bit more continuation to the downside to benefit that piece I mentioned eww EWZ made a nice move up today kind of back in the center Not quite enough to take off for profit here. I want to look at about 40 percent at least Of max profit before we book that one I mentioned footlocker fxi. We've got a strangle on here Price very centered here. Just waiting for some more profit to accumulate in fxi I mentioned idm iwm. We've got an iron condor on And uh just need a little bit more of a down move a little bit more time to pass to collect some more theta in iwm And the cues we've got this adjusted iron condor, which is so it's just the call side call vertical side Looking for a little bit more of a down move in in the cues to benefit that piece Then we've also got the full iron condor on Again could use some more downside and some more theta decay to benefit that Both of those are in december 28 days to expiration. So we got a lot of time left in those And then finally xop So xop came down almost tested our short strike almost came down to the point of needing to adjust And then his rally back nicely here. So well back within our range. We're down a little bit currently on the trade But just need a little bit more movement to the upside and a little bit more contraction In implied volatility to benefit xop So i hope that was helpful. If you guys have any questions, let me know. Otherwise. Have a great weekend. Talk to you next week