 Hey, everyone. Welcome to this week's video update. Today is Friday, March 3rd. One quick announcement before we jump into the trades from the week. We don't forget we will be streaming live Monday morning at 8.25 a.m. from both our YouTube channel, which is youtube.com forward slash navigation trading, as well as our Facebook page, facebook.com forward slash navigation trading. So we'll be doing a trade of the week every Monday morning, 8.25 a.m. central time, right before the market opens. We'll make different announcements and keep you guys up to speed on what's going on with upcoming events and new courses and stuff like that. So make sure you join us if you can. If you can't be there right at 8.25 central time, it will be posted right after you see. So you can go back and watch the recorded version. So look forward to that. Let's jump in. So trading was a little bit lighter this week, so not as many trades. And that really just has to do with the level of implied volatility that we're at. There's such low implied volatility in so many symbols, which creates less opportunity. But stay tuned, stay engaged, keep placing trades. And I promise implied volatility will spike again. It always does. And once that happens, we'll have a lot more trading opportunities. But let's jump in on Monday, the 27th. The first trade that we made was a put vertical that we bought in GLD. At the time, IV percentile was extremely low at 4. And so we were looking for an expansion in IV and or a down move in price for GLD. So if we take a look at what happened in GLD, this is the 27th right here. The bigger red bar. And that's when we got in. And over the next few days, as you can see, GLD just dropped pretty quick. They're a very nice trade for us. So we were able to get out of that trade at about a, I don't remember exactly what it was, 35, 40 percent of max profit within just a few days. So we booked that profit and moved on. That was a good quick trade for us this week. If we go to the next trade, another opening trade is we bought a butterfly in IWM. So we had implied volatility percentile spike to 57 at the time. And so let's take a look at that. If we take a look at IWM, as you can see implied volatility had a little period of spike up. And we got in at that point since then. It's just been crushed back down. But good thing we got in when we did. So if we take a look, here's the butterfly. So we've got a little bit of profit in that. Nothing to speak of at this point, not enough to take off. So we'll continue to monitor and send any alerts out on our IWM butterfly. And don't forget we're still holding an iron condor in the march cycle. So actually went up pretty decent today. Towards the end of the day, I didn't have a chance to get out of that at a nice profit. And the market's closed, so this pricing's a little bit off. We're not quite that much in the profit. But so we'll wait and hopefully get out of that trade on Monday, assuming IWM doesn't explode higher, which is very possible in this market. But I think we should be okay. And look to take that trade off pretty quickly on first thing Monday, potentially. Next trade we made was in wheat. We had an iron condor in wheat that we took off for a nice profit, closed out at a profit of 44% of max profit. Just remember in the grains, in corn and wheat and soybeans, remember the implied volatility tool is not accurate because of the nature of the way that the underlying futures roll and the exchanges provide the data, it doesn't function on those grains. So this is really just something that I kind of have to monitor manually. So a lot of times with the grains, when price moves up, that's when you'll see a spiking implied volatility. We did, we took advantage of that and then booked that profit for a nice gain. It took us about a month. We were in the trade for about a month, but we got a nice profit, so that was good. Next trade was in XLV, so an opening trade. Again, another put vertical, another directional trade. Just adding some short delta to our portfolio, with a lot of things, kind of it does price extremes to the upside. It can't go up forever. So a lot of things, we're just kind of looking for little pullbacks in, trying to stay engaged. And so XLV is up almost 10% in the last month. So if we take a look at a chart, as you can see, I mean, this thing's just been on a parabolic to the upside. Nothing says it can't keep going. However, I look at this as a good opportunity, a potential price extreme to see if we can't just get a little bit of a pullback, similar to what we saw in GLD earlier this week. So we'll continue to watch that. It's pretty much where we got it. We're down slightly on the trade now, just looking for a pullback. And remember, this April cycle, it's got, let's see, the April cycle now has still 49 days. So all we're hoping is that sometime in the next 49 days that price trades a little bit below where it is right now. So I like the probabilities of that, even though it's really a 50-50 bet when you put the trade on. I like to take counter direction trades after seeing major moves. You see how major move here, and then boom, pullback. You saw this major move down, and then boom, pullback. So you never know when that's going to happen or where in the extension. But all you can do is place trades, and the fact that we want more short delta in our portfolio just bodes well, and XLV was the ETF of choice this time. Next trade was GLD. And so that was actually today, and that was closing that vertical, which I already mentioned. So let's go back to the platform and check out some other positions that we're in. We've still got a couple of positions on in natural gas. So this is one that we've been kind of battling for a while. We've got this inverted strangle where we've had to adjust it a couple times. And we're really just waiting for time to decay and for price to move back up into our range. You know, it shows at this point we're down 1500 bucks, but that doesn't count all the roles and adjustments that we've made where we've taken profits off the board. So we're still down on this trade, not to that extent. Probably just a couple hundred bucks at this point. I hadn't calculated it exactly. And then we've also got an iron condor here, which we are in the profit on. Not enough to take off yet, but we'll continue to monitor that. And then we've also got the put side of an iron condor on that remember when it moved all the way down, we took off the call side because it was pretty much at max profit and now we're still holding the losing side or the put side. And it has since come back. I'd like for it to go a little bit higher and then we can get out of this trade for this particular iron condor for a break-even or a small profit. So continue to monitor that. In the trading cycle for April, we still got 25 days, so nothing urgent to do at this point in natural gas except for weight. And if we look at the implied volatility, remember you've got to use UNG, which is the corresponding ETF, and that gives you the accurate reading for the implied volatility pretty low. So it has contracted nicely. We just had this major move down after we put on a couple of these positions and it's working its way back up. So we'll continue to monitor that and send out any alerts needed on natural gas. A corn. We've got a position on in corn and that is actually we've got a couple. So we've got this iron condor where it's still pretty centered, nothing to do there. And then we've also got the put side of a previous iron condor where it moved down. We took off the call side, we banked that for a full profit and then price has moved back nicely for us. So we could take it off right here and on the whole iron condor bank a nice little profit. I just wanted to hold this over the weekend if we can potentially get a little bit move higher or just kind of stay right here, get a little bit more juice out of this trade and then we'll bank that profit. So stay tuned for that. Apple. So I've got a trade on here and Apple that we put on which is simply just a directional short vertical trade, short put trade along with the rest of the market. Obviously Apple's been extremely explosive. Put this trade on when it was about here thinking we were at a potential price extreme looking for just a little bit of a pullback and Apple just continued to rip higher. So that's going to be, that's currently a losing trade and with this trade we've got 14 days left on that particular trade. Most likely it's going to end up being a loser but remember when you put these trades on especially defined risk trades because of the transaction costs and different things I mean this was purely just directional trade we either were going to profit or we were going to take the loss and so I'm okay taking this loss obviously it's not what I wanted but it served its purpose as far as providing short delta in the portfolio it just didn't work out for us. So more than likely we'll take a loss on this one but we'll just hold it and stranger things have happened Apple could have a major move down and get us right back to the profit in the next couple weeks but we'll see and we'll potentially look to add another position in the next cycle if it makes sense at that point hopefully we'll get some more volatility and won't need to be so directional. Remember directional plays are not as high probability a lot of times when you're buying debit spreads I mean you're putting those on as really 50-50 trades just trying to add directional bias in your portfolio and stay engaged in the market so that's one that's probably not going to work out but maybe it will. Now we've got a double calendar still in DIA which is the DAO ETF this market's closed now so this isn't quite accurate it expanded a little bit into the close but potentially be able to look at taking this off for a nice profit in DIA on Monday or early next week. Then EWW we've got this adjusted strangle that we're still managing down just slightly on the trade so looking for potentially a little bit of a move down in price for time to go by and then we can bank that profit hopefully. FXC we've got a profit in our iron condor here not enough to take off yet though so we'll continue to monitor and manage that. IWM I already mentioned that one QQQ NASDAQ we've got a profitable calendar in the Q's as well not quite enough to take off yet though looking for a little bit of a down move and an expansion in implied volatility and we'll bank that profit hopefully early next week. TLT we've got a double calendar implied volatility has contracted we need a little bit more of an expansion and a potential move to the upside to get out of that one so we're underwater a little bit in that one but we'll continue to monitor and manage that double calendar and TLT. XLV I mentioned that one and then XRT we've got a strangle in XRT still fairly centered no profit loss there just continue to manage that. XRT has been kind of our loan underlying that's had higher implied volatility and that's due to a couple things announcement on retail sales as well as a lot of retail companies with upcoming earnings announcement so what I'd like to see happen if we don't get out of this trade with a profit is implied volatility stays high I'll probably end up scaling in and adding another strangle on this next week to just widen our break evens give us more exposure with that high implied volatility underlying and continue to manage and monitor the current one hope that was helpful again Monday morning 8.25 we'll see you there on Facebook or YouTube for the live streaming and the trade of the week have a great weekend talk to you soon