 What's up, Navigation Traders? Welcome to this week's video update. Today is Friday, April 26th. Hope everybody had a great week of trading. This is our weekly recap of all the trade alerts and positions exclusively for you, our pro members. Before we jump into the alerts, let's check out who got caught being hot this week in the community. This week goes to Jonathan Thomas. Jonathan's brand new to the community but has wasted no time in jumping in and getting involved with different trade ideas, helpful comments, great questions. So great stuff, Jonathan. Keep up the good work. You got caught being hot. And we sent you a private link to grab some Navigation Trade Hacker swag, so enjoy that. Keep up the good work. All right, let's jump into the alerts for the week starting with Monday the 22nd. We had a closing adjusting trade in ZW, which is wheat, and we just simply closed out the call vertical side as price moved down, passed the break even to the downside. We just closed out that untested side. And so if we take a look at our friend wheat, it's a bit and just kind of bounced it around the last few weeks here. And we've got two pieces on here. Here's a full iron condor that we ended up putting on here on a later alert this week. You can see it's still fairly centered. Give it more room to the downside than we did the upside. And the reason being is because we've got this piece on where we've got room to the upside is what we need. And so you can see prices still barely out of range, but if we can get a little bit of up movement, get back in there and hopefully book a profit on that one. Next trade was an opening trade in Walmart. So we did a pre-earnings long call in Walmart. And we did this, Walmart's got a little ways until expiration, let's see here. The date is 516 before market. So we want to be out of this by 515. Now, Walmart did have a little slap today to the downside. So we're actually, you know, we're just looking for a little bit of a push higher and we would have booked a nice profit on this. Unfortunately, we woke up and Walmart was down. And so that's not good for our position. So we're down a couple hundred bucks on that at this point. You know, if we really at this point now, if we can get back to break even, we'll probably exit or try to get a small profit out of the trade, but we are looking for this to really push higher, get some of that momentum going into earnings. Obviously that didn't happen, but hopefully we can still get out of this trade for a break even to small profit. Next trade was an opening trade in XBI. So we put on a long put vertical, which is a bearish play in XBI. And I just really like the setup that we saw here. So if we take a look at the chart, what you're gonna see is we had this big push down in XBI and then we've just kind of bounced higher. And it was on this day right here that we got short. And so we're just looking for, I like when you see these big push moves down and then a little bit of a bounce and look for that continuation to the downside. And same thing on the upside. If you get a big push up, you get a pullback and then the continuation to the upside. I just liked how that set up. So the other thing is XBI hasn't been as strong as the overall market. This is the biotech ETF. And so we've had a lot more two-sided action here. So I just wanted to add a little bit of short delta. We were at this point, we were below our five to one range on our short delta to theta ratio. So still within our range, which is why I didn't have a problem putting it on in addition to just liking the look of the set up for a continuation to the downside. And so we'll see what happens. Hopefully we get a little bit of a push down and we are able to book a profit on that. Now, speaking of short delta to theta ratio, we are currently at about three and a half to one after the last couple of days here. We've got some nice movement in oil and some of the other stocks moving down and videos down almost five and a half percent today. So at this point, that really benefited our account based on the amount of short delta that we had. And now it's pushed us back into an even more reasonable range. We're at about three and a half to one. So in good shape there. Next trade was a rolling adjusting trade in SMH. So we rolled one set of our short strangles from May to June. We had 23 days left, but with SMH just really climbing high, we had very little value left in those puts. So we wanted to roll those up and we're not gonna stay in May with just 23 days. So we rolled out to June with 58 and then we're still holding our other piece. So let's take a look at SMH. Nice relief from that rally today down almost 2%. So that's always helpful when you've got short delta. So here's the roll that we made. We rolled up our puts to the 115, kept our calls at 85. So we've got this inverted strangle. Now with just the move today, look how much we've gotten over $800 in profit back just today with this down move. So that's definitely benefiting that position. And then our other piece is still in May. And you can see we've got a, it's also inverted, but it's a little bit tighter. Oh, I'm sorry. No, it's not inverted yet. We've got the 108 call 104 put. So we did roll up our puts, but it has not gone inverted. And so just looking for a little bit more downside to get back into range here. Now our May position has 21 days to expiration. Didn't roll it today cause we did quite a few different trades. I like to spread those out across duration as well. And so we will be rolling this one early next week since we're now getting to the point where we're under 21 days to expiration. Next trade was an opening trade in Facebook. So we did a post earnings short put vertical and what we're looking for here is when a stock announces their earnings and the stock price opens well above the expected move, we look for a continuation kind of steady prices to grinding higher in the stock price. So Facebook, if we take a look at the chart first here, you can see it gapped up and then it came down and it's coming down again today. So the price has actually moved against us as far as our position goes, but we just need a little bit more continuation to the upside to benefit this trade to get back into range. So we'll see what happens there. Next trade was an opening adjusting trade in IWM. So implied volatility, the percentile popped above that 50 level. So we added an iron condor in IWM in the June cycle with 57 days left. And then we still have our full iron condor in May as well. So we've got two different iron condors in different expirations. Here's our May one price kind of hanging out near the upper end of the range. Could use a little bit of downside to get back to center there. And then if we take a look at that alert I just mentioned, which is the one that we added in June, you can see this is pretty well centered. So just waiting for some time to pass there. Next trade was a closing adjusting trade in ZN. That is the notes. So we had two positions on in ZN. We had a short strangle that hadn't been adjusted at all and we reached 45% of max profit on that. Nice move up in price today, giving us the chance to book that one. And then the other pieces, we had this adjusted strangle, which was actually a straddle. And so we booked over 20% of max profit on that piece and took that one off as well. So booked both of those back to back and we are out of ZN and we'll wait for implied volatility to pop back up. Now, when we took this off, implied volatility, the average percentile was at 41. I was looking at it a little bit later after I placed that trade and now it's down to 17. And so had we waited a little bit longer or if you didn't get the alert until a little bit later, you probably got at it even better prices than us, but that's just part of trading. So we're out of there, booked a nice profit overall and we'll wait for implied volatility to pop its head back up before we get back into any bonds or notes or TLT. Next trade was an opening trade in Intel. So Intel announced earnings last night or this morning. Anyway, before the market opened today and they had a big move down. I'm not sure what happened, they missed. I know there's some headlines going on with their integration with different Apple products and it looks like they're getting the blunt end of the deal, but if we take a look at a chart of Intel, you can see it's down 10% today. And so they announced earnings dropped like a rock and when that happens, a lot of times implied volatility won't get crushed as much and so implied volatility is staying bid. At the time we put this on IV percentile was at 52. So we sold a strangle. Now this is a lower price stock around $51. So we pushed our short strikes in a little bit tighter towards the price. So it's not as high of a probability of success, but we collected a really nice credit on this and with just a five point wide strike. So we're looking for price to settle down from implied volatility to start contracting, which it already has and hopefully we can book a quick profit on this one. Next trade was a rolling adjusting trade in CL, which is oil. So we have two sets of short strangles, both inverted, both in June. And we're at the point in these contracts where we're at 20 days to expiration today. And so we wanted to start rolling this. I was hoping for a little bit of down move and we got a big down move today, which was awesome before we did the roll. So we rolled this so that our strikes are at 56 and 61. So we've got the 56 call and the 61 put, and that's now out in July with 52 days to expiration. So let's take a look at that one first. You see, we've already got a little bit more down movement. We're already up another $400 since we did that roll this morning and just looking for some more downside to benefit that trade. And then this one, which is still in June, you can see it's a bit out of range, hoping for that one to get back into range here, regardless of what happens with price, we're gonna be rolling this one next week as well. Cause like I said, we've only got 20 days to expiration. And on these uncovered options, once we get under that 21 days, that gamma, that risk really starts to accelerate. So we like to roll out to the next expiration cycle, collect a credit and keep the dream alive. So that's where we're at on oil. And lastly, we did a closing adjusting trade in IYR. So the real estate ETF, we had two different iron condors on here, one in May, one in June, and the one in May got to a point of over 30% of max profit. So we went ahead and booked that one. If we take a look at IYR, you can see that's zeroed out cause that's the one that we closed. Let me reset this so I can get the appropriate boxes checked for you. And let's uncheck those. And so here's the one that we still have. This is our June iron condor, kind of a tight iron condor. And just waiting for some more time to pass, a little bit of a down movement in IYR would also be beneficial. And so those are all the alerts. Let's take a look at some of the other positions. I mentioned oil, ES, we've got a long put vertical. You can see it's just out of range, just looking for some downside to get back into range there. We're holding that for that short delta exposure. Natty gas finally making a nice move in our favor, up one and a half percent today. You can see these are both of our positions. You can see our puts are both at the three strikes. So that's why those are together. So we can, these are such similar positions so we can kind of view these together. But the bottom line is we need some upside to get back into range of nat gas. And we've got 32 days to expiration. So we've got some time before we need to start considering rolling there. In wheat, I already mentioned that one. In DIA, we've got an iron condor. You can see prices hanging out near the upper end of the range. Need a little bit of downside movement. Won't take too much to get back to profits on this piece. And so that's what we're looking for in DIA. EEM, we've got this short call vertical. It's come down since we did that roll and just waiting for some more downside to benefit that piece. I mentioned Facebook, I mentioned Intel, IWM. Did I mention this one? Yeah, we've got two iron condors here. One is centered and the other is, let me reset this. I don't know why TOS does this, but anytime you have a couple different positions in different expirations, it'll make you reset to check those boxes. But this one, the price is just hanging out in the upper end of the range. So need some down movement on that part. I mentioned IYR, NVIDIA, nice move today. We've got this short call vertical and got a nice move at prices actually way up here at a range and it's come all the way back in the last couple of days to a point where we've got a profit on this piece. Overall on the trade, we're still down a little bit. So just waiting for some more down movement or steady prices. If we take a look here, you can see just had a huge rally and then it's just kind of been bouncing around and we're getting some downside relief today from that rally, which is good. Two-sided action is our friend. QQQ, Q's have been really strong. I had a little bit of a blip of downside today, but not too much. We've got two sets of short call verticals which are both out of range. So looking for some downside to get back in. These are in May with 20 days to expiration. So we don't like to be in a negative theta position, which we are right now, very small, but yet it is negative. And so we might look to roll one of these out to June here in the next week or so, but we'll see what happens. If price makes a nice move down, we will just be back in range in a positive theta position. So we'll see what happens. SMH, nice move down today, 2% move down. So we've got two pieces on here, one of which is this inverted, I already went over this one, sorry. Little slow today. We need that piece to get back in range and then we already rolled the other one. SPX, we've got this calendar spread on. You can see prices hanging out right here. No profit or loss, need a little bit of downside, need a little bit of an expansion in implied volatility to benefit this trade. So hopefully we get that in the next week. SPY, we've got this short call vertical spread. Just looking for some more downside to benefit that. Wells Fargo, this is one that we put on after the earnings announcement. They had this big move down and implied volatility stayed high. Now price is starting to bounce back up and so we're just waiting for a little bit more time to pass. We've gotten the contraction and implied volatility that we want but just not quite enough profit. So if we get just a slight up move in the next week, we'll go ahead and book this one. I mentioned Walmart, XBI, looking for some downside in XBI. I mentioned that one. XLK, this is a technology ETF. We've been holding on to this one for that short delta. Unfortunately, technology's been strong but just looking for a little bit of downside to get back into range there. Again, this is one where we may consider rolling this out to June to get back into a positive theta position unless we get a quick move down here next week. XLV, healthcare. So I did a video on this. Healthcare stocks have been beaten up a little bit after the CEO of UnitedHealthcare came out with some statements during their earnings call. So we ended up trading the ETF, which is XLV, bounced really hard off that bottom. And so we actually could use it to settle down or actually go down a little bit to benefit our trade before we book a profit there. And lastly, XRT. Interestingly enough, XRT is up today whereas Walmart and Target and some of these big retailers are taking a pretty decent hit. So not sure what's going on there but retail is, as far as the ETF goes, it is up. We needed some downside movement to get out of this XRT position. Implied volatility is pretty low so we're not looking to add at this time but that's where we're at in XRT and that's where we're at in all of our positions. So hopefully we get a little bit more volatility next week, a little bit of downside but it would be great and let's keep this going. So everybody have a great weekend. Talk to you next week.