 Happy Friday trade hackers. Welcome to this week's video update for pro members. Today is Friday, May 21st Market's been closed for a little over an hour at this time of this recording So taking a look at the markets first off the s&p 500 You know, it really felt the last couple weeks that we've had some really Volatile wild swings, but but to put it in kind of a bigger picture perspective I mean we're inside of 200 points From the peak down to the bottom over the last couple weeks. We're we're inside 200 points as far as these swings go now intraday When you're trading of it, they feel much bigger than that, but you know, we're just kind of Volatile back and forth back and forth And kind of my perspective going forward is I don't really I'm not I don't really have a conviction one way or another Where in the short term where I think this market might go I could easily see this rolling over And giving us some more downside and I could also see this thing ripping up to new new highs So we're we're playing it pretty neutral. We do have a little bit of short delta on still, which I'll show you in our positions several different positions, but we're about one to one a little over one to one on our theta versus our Beta weighted spy delta ratio So we do have some short delta if this thing does fall again But we will be okay as far as the amount of premium We've sold metatheta will collect if this thing kind of starts to continue to push higher. So that's where we are positioned If we take a look at the nasdaq A little bit weaker and a little bit more volatile But still, you know, still kind of in a little bit of a consolidation box here On the on the implied volatility front, let me go back to spx for a second. You can see on the annual implied volatility percentile and ivy rank Ivy percentile is pretty low. I mean, we're we're at 16 now That's compared to where it's been over the last year and obviously we've had some big big volatility and some big Implied volatility spikes this year. So that makes sense If you look at a little bit shorter duration and this is 21 days 21 trading days So essentially a month of trading you can see implied volatility is fairly high We've got the ivy percentile in at the 71th percentile 71st percentile, I should say and the ivy rank at 31. So a little bit elevated if you compare it to the last month And then rut, you know rut staying a little bit weaker as well A little bit further off of its all-time high, but same same kind of pattern just kind of Some some fairly sizable swings within kind of a consolidation area bonds bonds have Kind of settled down after they were on a Pretty sizable downhill slide for quite a while They've been really just trading sideways for the last few months here And that's helped one of our positions, which will go over in just a minute Uh, you look at things like grains, which we don't trade too much, you know Soybeans were on a massive run for quite some time as you can see here if I zoom out But starting to see a little bit of a sell-off And uh, and and and if we look at oil Oh, let me look at gold first gold has been on a pretty sizable run and still continuing to to push higher Silver is has been going up too, but not at the same rate as gold And then oil a big update today about over three percent But that seems like a pretty normal move compared to normal for for oil And so while it does have some pretty sizable interday Ranges you can see kind of between 60 and 66 bucks a barrel for the last few months So just kind of some volatile swings inside of a pretty pretty steady box So those are the those are the different markets We are we've got a really nice fairly diversified portfolio and we'll continue to add on more positions With implied volatility coming down taken off positions We do have a sizable amount of cash right now. So we've got some dry powder to deploy So in the next week or so, we will be look for some, you know, quite a few additional new positions Assuming the opportunity presents itself. Obviously, if we get a spike in implied volatility, we'll be looking for additional premium selling opportunities Um, and of course our normal iron ducks and weekly double calendars And then um, and and we'll sprinkle in some additional directional trades to help balance our portfolio as well So that is the plan So before we jump into the alert, just want to give you a quick update on our day trading So a nice week again this week plus 3197 was our profit for the week puts our Total profit for the month. Uh, excuse me year to date a little over 45 000 A little over 12 000 on the mighty 90s 3500 on the pairs 29 000 on the runners And looking at the days of the week. So today marked our 13th day in a row With a green with a green profit. So going back to three Tuesdays ago. So one two three four five six seven eight nine 10 11 12 13 now we're gonna be I'm gonna be traveling next week. So we won't have a live stream Any day next week. So the next time we'll be back is June 1st, right after Memorial Day. So hopefully we get back on that train and keep it going. So Good stuff in the day trading and then let's jump into the alerts. So first alert on Monday on May 17th We did a rolling trade On our de position to extend duration. John Deere announced earnings this week So we wanted to roll that before the earnings announcement Uh, and so let's take a look at de to see where we're at. It's moved up a little bit Since uh, since that Since that roll. So it's right here at our break even so just looking for some more downside to benefit We finally started to see a little of volatility to the downside in John Deere where it's been kind of on just a An uphill climb for a while. So uh, that that's good for our short delta position So we'll continue to hold that as part of our short delta in our portfolio IWM another short delta position We rolled this as well And in this one we went from May to July and just skipped over June And this is just simply that we're diversifying our duration So we've got some in June and now we've got some in July Which is under 60 days to expiration. So just kind of uh with this one skipped it So it went from three days all the way up to 59 dte. So if you take a look at IWM We're up about 85 87 bucks since we did that roll And so again just holding this for that downside benefit if we do see some more downside in the market SMH so we had a a short strangle that we've been managing for several cycles here Had been managed into a straddle that was at the 235 strike And we were right near 25 of max profit on this piece and we're up I think we closed it out ended up booking $2,400 on the trade Overall after all rolls and adjustments So it's kind of nice to close one of those out for nice profit after you've been adjusting and rolling and collecting credits and continuing to manage Just like we teach in our short strangles course So that that's part of what freed up a bunch of capital This was a little bit more of a capital intensive trade And so we'll be looking to redeploy that capital into new trades Next week over the next week or so Yes a long put vertical roll this one We were well over a 50% of max and and based on the downside We just had two days to expiration So we wanted to roll that out adjusted the strikes appropriately and rolled this one to 30 dte so again just kind of diversifying our durations here. So if we take a look at es This has moved up since we did that roll. So just outside of our range. So Holding this for that short delta exposure spx weekly double calendar. So we had two of these on And we got down to one day to expiration this one Most I mentioned here in the comments most of the premium was gone out of the front week and so what I mean by that is When you when you are doing a double calendar You're essentially selling a strangle in the front week and you're buying a strangle in the back week and so that theta decay comes from that premium that you sell in the front week and Almost all the premium was gone. So we just decided to exit we booked a small profit on this trade And and enclosed it out Next trade de we had de with that downside had another we were well over 50 max profit again So we just rolled that out right before earnings And I just showed you that so had two two rolls in de so a nice down movement in there Continuing to kind of lock in those credits as as we roll spx open new weekly double calendar did this one with eight dte in the front 12 in the back There's usually three days between these but there's four this time because of Memorial day is that right? Yeah So that that's why there's there's four there. So let's take a look at spx That's an iron duck. Let me go to our weekly double calendar that we just put on And pretty close to where we put it on dead centered up about 85 dollars since we put that on Uh, if we get any kind of movement into next week, we might be able to put on another one of these I just don't want to stack them all in the same place. But if we get some price movement, uh, we'll add on another one I like to I like to put a couple of these on each week to kind of spread out those those break evens as price moves around Spx closing trade. So here is our other weekly double calendar that we had that expired this week This one booked uh over 35 profit. So nice trade there Zb we had that short strangle that we've been managing We rolled this so we we still had 35 days expiration, but we were over 50 of max profits So we went ahead and rolled it out to 63. We usually like to stay in that 30 to 60 days So this is a couple days outside of that range, but not a big deal To do it to 63 So we went ahead and did so and went ahead and locked in that credit and extended duration here gave us a fresh Fresh spread a little bit wider than the other one And so you can see price is pretty close to where we put it on just uh dead centered We kept the strikes exactly the same. So you see we rolled it from 152 161 to 152 161 in the next cycle SPY opened a vertigo. I've been looking at these. I mentioned to uh krish in the community You know, I look at these anytime we have an update or anytime we have a volatility contraction I'm looking at these the put skew in there is just is is really is really heavy as I mentioned here and so Um, we we went ahead and put one on just just did it small Because we have had a couple days of implied volatility contracting in a row But I'll show you what what that looks like when I say there's heavy Heavy skew is okay. So here's the center of our little valley, right? But look at the p&l graph that the kind of the balance of the p&l graph is right here And so when you have that heavy skew, that's kind of what it looks like And so that's kind of the reason why I haven't I've stayed away from from putting this on recently but You know, like I said with a with a couple of big up days in the s&p and in some days of contraction of implied volatility You know, this thing's just been kind of in this range here. So hopefully obviously with a vertigo We want this thing to push a nice push higher or a nice push lower So I think we're in a good position for that to happen. You can see prices right here It's moved up a little bit on us is actually down here when we first entered Kind of at the center of this of this profit line here So if we can get a nice push up or a nice push down We can book a nice profit on that one And you know if we get the market continuing to push up and implied volatility continuing to contract We'll layer on more of those vertigos if it makes sense DIA so this is another one of our uh short delta plays a short call vertical So we went ahead and we were down to the expiration day. I was looking for DIA on um, I've been looking at rolling this all week We got this down move and got us right back into range And I was seeing if we were gonna get a little bit more and then just kind of popped up on us popped up out of range So got down to expiration day. So we went ahead and just rolled that out And so you can see it's pretty close to right where we put it on which we rolled it today So that makes sense. So we just we rolled this one for may out to july as well And july with 56 days to expiration. So we'll continue to hold that for the short delta exposure And then lastly did a closing trade in qqq. So we had an iron duck in qqq price it looked like we had a chance to potentially close this one out in the duck head, but price jumped up on us and So so down here if we would have if we would have kind of stayed in this area or lower We would have hit a duck head, but it kind of popped up on us And so we just closed it out and booked a booked a beak profit On that one. So those are all the alerts. Let's take a look at some of our other positions here Starting with apple. So we've got a another one of our short delta plays in apple prices right inside range there De I already mentioned DIA. I already mentioned IWM. I mentioned McDonald's. All right, so we got a A long put diagonal in McDonald's it's pushed up a little bit since we put this on So still got some room to the downside And we've got all the way out to june 5th in this one. So we've got some time And the the positioning for this one is you know with that flush We had this big flush in McDonald's and then it started to bounce up And so we're looking for a potential rollover it started to now It's kind of popped back up into that range and just kind of grinding sideways It still has some promise of going down and so We will benefit from that if that happens And then netflix and nvidia a couple of long put diagonals as well Now in these ones netflix we started with two contracts when the when these stocks were down. We already booked Half of those so we booked one contract in netflix and now it's now it's since popped back up So you can see that little pop back up But we'll still hold this to see if we get some more downside It's it's given us that short delta that we want in our portfolio nvidia came out and announced this morning That they were going to do a four for one stock split. So it's a six hundred dollar stock right now It'll drop to about a hundred and twenty dollar stock assuming that gets all approved by their By their board and that will happen sometime in july. I believe july 20th is the uh Is the date they have on that so based on that news of the stock split nvidia popped up this morning Now it's come down a little bit. We will close this before earnings nvidia announces earnings on 526 after the market closes So by 526 we'll have this one closed We're pretty uh, so we already took off half of this one as well. We had two contracts Move down we booked profits and now it's come back pretty close to where we put it on So hopefully we get a little bit more downside before earnings and we can book some more profits on that one But we will see what happens QQQ already mentioned we booked that iron duck And then we've also got a long put diagonal in the queues Same thing here this thing moved down. We had five contracts to start. We've got two left So this thing on that flush we booked a bunch of profits now. It's come back and we're still up about 55 on these last two But holding to see if we can get another down move and uh and potentially get some more profits if the queues move down And that is on an expiration of 529 So we'll be closing that at that one out next week regardless And then the other position we have in the queues is a short call vertical You can see we're up about 100 and some dollars on that one since our last adjustment So holding that for some more potential downside I mentioned spx. I believe at least uh, no, I mentioned I mentioned the weekly double calendar But we've also got a couple of iron ducks in here Here's one You can see price is up the beak Uh, if we put our price slice right there change our date to 529 Yeah, so we still got about a 32 chance that price could come back into our duckhead into our max profit area So we're going to hold this one a little bit closer to expiration. This expires next friday And then we've got another one that expires on wednesday The 27th and this one is right on the edge here. So if we get a little down movement into next week, hopefully we can Book a duckhead there Uh, I mentioned spy and then lastly xlk another short delta piece This is a long put vertical prices right inside rough range pretty close to where we put it on Just looking for some downside action to benefit that one So those are all the alerts. Those are all the positions. That's your update If you guys have any questions, let me know Otherwise have a fantastic weekend and we'll see you in the community on monday. Take care