 What's up, Navigation Traders? Today is Friday, March 16th. Welcome to this week's video update. Hope everybody's getting ready for a little basketball this weekend, a little March Madness. I know I am. And so let's go ahead and jump into the alerts. And actually, before we do that, I wanna point out one thing on the current portfolio. So one request that we have been getting is could we please date the trades in the current portfolio page. And so we've started doing that. We're not gonna go back and date every single trade and adjustment that we've made. However, going forward for all new positions, you'll see a date next to the trade. Hopefully that helps you track things a little bit better. We've gotten that request from several members. So we are always trying to improve and make things easier and better for you as traders. So just wanted to make that quick note. So let's jump into the alerts for the week starting on Monday, the 12th. And so our first trade was an opening adjusting trade in the cues. And so basically what we did is we added an iron condor in the cues. Ivy percentile at the time was 78. And so if we go to the platform and take a look at the cues, what you'll see here is, so this is the iron condor. You can see that implied volatility has already contracted a decent amount since then. It doesn't look too much on the graph, but a lot of premium has been sucked out of these options. I know right after we put it on, volatility kind of popped up. And so we were underwater slightly, but already we're making money on this trade. It's only been a few days. We've also got these two other call verticals. And so if we take a look at them, very similar trades, just one strike different. And we're continuing to hold those, looking for a little bit more downside to benefit those pieces. Next trade we took was in XLV. So we had a couple different iron condors on in XLV. Price kind of ping-ponged around nicely. We were able to get out of both of those for a profit. And so that was just buying back the put vertical from that iron condor. We still do have a full iron condor in XLV that we're just looking for a little bit of downside, a little bit more IV contraction and time to pass to get out of that one. But we're up on the trade at this point. So once we, if we can get a little bit of move down, get out of this one, we'll be out of XLV altogether. And if we take a look at the implied volatility, you can see the IV percentile is still nice and high. So if we get a chance to, if we need to adjust or add positions there, the options are still priced nicely to sell more premium. Next trade was a rolling adjusting trade in DIA. So we rolled our short call vertical from March to April and we adjusted the strikes based on where price was. And so these were back-to-back rolls in DIA. So if we take a look at the platform now, what you'll see is we've got both of these. And with the down move in price this week, these have come in nicely. So these are both of them combined together. We can separate those out. Very similar to the QQQs. They're just one strike different or a couple of strikes different. But you can see they've come in nicely since we rolled those. And we'll continue to, if we get a big push down into next week, we're not just gonna close those out. We'll probably continue to roll those to keep that short delta or add another iron condor to collect more credit, center that around price. We'll see depending on where IV and where price is next week, what we do with that. So those are working in our favor this week. Next trade was a closing trade in XLE. So we closed out our strangle, booked a profit of around 45% of max profit in XLE. These oil ETFs, energy related ETFs, like XLE. If we take a look here, we got out when implied volatility kind of came down. We were able to book that profit. Implied volatility popped its head back up just slightly. Got those options price a little more expensive. So we put on another iron condor and you can see the implied volatility getting crushed today. The premium last couple of days, premium getting sucked out of that. And so this is our current trade. So just been in this a few days and already seeing some decent profit. If we can get a little pop higher and some more contraction, we'll be able to book this one pretty quick. Next trade was a closing adjusting trade in XEN. So this was a great trade. We had to make a couple of rolls and adjustments, stayed mechanical, closed the short strangle in XEN for over 55% of max profit on that piece. And then we were still holding our 121.5 straddle, which ended up coming off a couple alerts later. So I'm gonna go ahead and jump up to that one right here. So on 314, so that'd be on Wednesday, we took off the rest of this, booked a really nice profit. In fact, I'm gonna jump over to the closed trades, booked a profit of over $468 on that trade. You can see we had several adjustments we had to make. We put one on, rolled it, put one on, took it off, rolled, just continued to stay mechanical and took us a couple of cycles, but booked a very nice profit. So that's the way you do it. That's the way the game is played. So going back to the alerts then, and then, oh, and the other thing that really helped that XEN position, if we look at TLT, which is the corresponding ETF that we need to look at to get an accurate reading of implied volatility, I mean, look what the implied volatility did. It just got crushed and kind of hovering down here under the 10 level all week. And so that really gave us the opportunity to book those profits in the notes. Okay, so going back to, let's see where were we here, XEN, there it is. Okay, so next trade was a rolling adjusting trade in Ford slash ES. So this was in the long put vertical that we've been holding to keep that short delta in our portfolio. And we simply just rolled that from March to April. So if we take a look at ES, what we'll see here is we've got a couple different positions on an ES. This is the long put vertical. Since we rolled that, again, prices moved down. That's come in nicely. So we'll continue to monitor that. If it keeps going, we'll go ahead and roll that again to keep that short delta in our portfolio. And then we've also got another trade. It's a separate trade in ES, which is an iron condor. And that's come down nicely as well, almost to the point of taking that off. We'll probably, implied volatility stays high. We'll wanna stay in the S&P. So we'll probably maybe add another centered iron condor or we'll see what happens where implied volatility and where prices at the time next week. But that's kind of the game plan in ES. Next trade was an opening trade in XLE. I already mentioned that one. That's the Energy ETF. It's already come in a bit, but still waiting for a little bit more profit. Then a closing trade in EWZ. This was a nice one. We booked about 40% of max profit in just 11 days. If we take a look at EWZ, had a nice contraction in implied volatility. Gave us the opportunity to get out of this one. So we had that sharp decline here. It just kind of stayed low. We were able to get out before it popped its head back up. So now we're completely out of EWZ. But then this week, even with the down move that we had early in the week, we were seeing a ton of premium being sucked out of these positions. So that's great when you have, we already have the positions on like we have. So we've had a very profitable week that way. And didn't put on a lot of new positions this week just because with implied volatility contracting like that, just didn't really have a good opportunity. Plus, we've already got a great mix of strategies and symbols going on here with a very good diversification of uncorrelated symbols, Euro, S&P, NatGas, Soybean's Wheat, Apple, Dow, EEM, EWW, FXI, GLD, Gold, IWM, IOWR, Real Estate, Oracle, Qs, we just energy, healthcare, retail. So we've got a great mix. And so I don't wanna get too overweighted in equities. We have definitely a decent number of equity positions that are all somewhat correlated to a degree. But we've got a great mix. So didn't wanna go crazy in opening new positions with the implied volatility contracting this week. Next trade was an opening adjusting trade in Soybean. So we added another iron condor in Soybean's. And so if we take a look at that one, we've still got two pieces going on here. We have this April piece, which is the short call vertical from what was previously an iron condor. So need a little bit of down movement here. Soybean's has started creeping back up to the upside. So I thought we were just hoping we were gonna get a little bit more of a push down here. And we could have gotten out of that one. Didn't happen. So we'll continue to watch it. We've got seven days left. So we will be closing or rolling that next week, depending on where things are. But the other piece of this, the alert was adding this iron condor. So we've got another full iron condor in Soybean's. So I just put that on. So no, not much profit there yet. Next trade was a rolling adjusting trade in EEM. So this was a long put vertical that we had on for some of that additional short delta in our portfolio. Simply rolled this from March to April and we adjusted the strikes just by one strike from 51.47 to 52.48. I get a lot of questions on rolling verticals. And just keep in mind, all we're doing when we're rolling is simply closing out one spread and reopening it in the other. The confusion comes, I think, because when you enter that roll in toss, it shows like this is a vertical roll or it shows a calendar roll or it gives it kind of a name that I think is a little bit confusing. But all you're doing is simply right, let's just go to this and act like I was gonna roll it. When you do this in toss and pretty similar and tasty works as well, you're gonna simply just highlight the trade, right-click, create rolling order, choose the first one and then of course you're going to need to adjust. So you're going to need to adjust the strikes. If we were gonna roll to May, for example, I would want to readjust the expiration to May, then adjust the strikes to what you want them to be. So essentially we are closing out the bottom one, we're reopening the new one, which is the top two, and then you hit confirm and send and that's all there is to it. I know it is pretty confusing at first for newer traders, but you can also do it manually the first few times to get accustomed to the whole concept of rolling. The other thing you can do is just simply close out this order and then reopen the other order based on the strikes that I display in the alert as well. So that's another way to do it. That just kind of takes two steps where you do have the ability to do it in one transaction with the rolling functionality in both toss and tasty works. Oh, and so let's look at that EEM. So it's come in a little bit since then, just looking for a little bit more down movement to benefit that piece. So here's the look at the chart so we can just get a little bit of a breakdown lower. You know, that's gonna benefit that one. And then I already mentioned the ZN straddle that we closed and then last of all, on Thursday, we did a rolling adjusting trade in IYR. So we didn't do any trades today on Friday. So this was our last trade from the week and this was on yesterday on Thursday. And so with this one, we did not roll from one expiration cycle to the next. We stayed all in April because there's still 36 days to expiration at the time. And we just simply rolled our puts up from 68 to 74. So again, kind of the same thing. All we did was we closed out of our 68s and we reopened them in 74 at the 74 strike. So now we hold the, we're short to 74 puts in the 76 calls. And we still have 36 days to expiration at the time. So there was no reason to roll out from April to May. We just stayed in the same cycle. Price had just breached our upside short strike. So we just needed to collect more credit and adjust the trade like we teach in the strangles course. So if we look at IYR, you can see we had this pretty decent move higher, you know, breached through our upside short strike. And so all we did is we moved those, you know, the short put was down here at the 68. We simply moved that up to the 74. And by doing that, we don't take any more risk. We collect some credit and we just, we shorten, we narrow our range, but we collect more credit, give ourselves more time to be right on the trade. You know, if price continues to move higher, we can continue to roll our puts up or if price moves back down into our range, we can close this out, you know, potentially for a small profit or if we're still in the trade, when we get under 21 days to expiration, then we would roll out to May, but definitely not there yet. As of today, you know, we still have 35 days to expiration. So plenty of time to still book a profit and or, you know, continue to manage this trade as needed. So those are all the alerts. Now let's check back with some of the other positions that we still have on, one of which is the Euro 4 slash 6E. So this is an adjusted strangle. It's come back into range nicely. So we're actually right at about break even now, shows, you know, a little bit of a profit, but after the adjustments, once you add those up, we're right at about break even, a little bit profitable, but I wanna try to suck a little bit more profit out of this one before we book it. We're right at 21 days to expiration. So early next week, we will be looking to either close this, you know, potentially book a little profit or we will roll it out to May with 49 days in next week. That'll have obviously less than 49 days to expiration, but somewhere around there. If we take a look at the implied volatility in 6E, you can see it's contracted significantly. So, you know, depending on where price is and where IV is next week, that'll help determine whether we close or roll the trade, but stay tuned for that. I mentioned ES natty gas. We've still got an iron condor on in nat gas. Dead center, not quite enough profit to take off yet, but playing nicely with us here. I mentioned soybeans wheat. We've got an iron condor here. Got some profit, not enough to take off yet, just waiting for that to accumulate more profit for us. Apple, we've got this long put vertical. It's a little bit out of our range. So just looking for a little bit of down movement to benefit that one. DIA I mentioned, EEM, I already mentioned that one. EWW, we've got this adjusted strangle, which is, we're about it after the adjustments and rolls, we're, I think we're a little bit profitable. I'll have to double check. I looked at this yesterday, didn't wanna take it off. We didn't have enough profit yet. So we'll continue to watch that into next week. If we get a decent contraction in implied volatility, that's gonna shoot that profit lineup and allow us to get out of that one. So we'll see what happens there. We'll potentially book a profit there or stay in it depending on what we get from implied volatility. We still have 35 days left in that one, so definitely no hurry to get out or roll or anything. FXI, so this is one we are profitable. After adjustments and rolls, we've got two different pieces to this trade. One with four contracts at the 50-50 straddle. And so we're up a little bit on this piece of the trade. And then we've also got one with three contracts. We're also positive on this one. Not as much as you're seeing there. So we're not up 300 some on this one. And, you know, 385 on this one. It's not that profitable because we did make some adjustments. But we're profitable on both, just not quite enough yet. I wanna give it another week or so. Hopefully get a little bit more contraction in implied volatility here as well. And if that happens, we'll definitely be able to book both of those and cash out on FXI. Whoops, let's go back to the platform, GLD. We've got an iron condor on in gold. So just need a little bit of a move up to benefit that one. IWM, I think I didn't mention that. We've got an iron condor here. So just need a little bit more of a down movement there and we can book a profit in that or potentially continue to add if implied volatility stays high. Let's see, IYR, I mentioned that one. Oracle, so this is a pre-earnings long straddle that we've got on. And we're looking for a little bit of an up move hopefully to get into the profits on Monday. They announce on Monday after the close. So we will be out of this trade on Monday. So watch for that regardless. Winner or loser will be out of this. We haven't really gotten the expansion in implied volatility that I was looking for. You can see it kind of just, we got in back here, just kind of stayed flat, popped up a little bit, down a little bit. But if we can get a real pop of implied volatility and a continued move higher, we'll hopefully get out of that for a profit. Otherwise we'll book a small loss on that one. QQQ, we've got, I think I already mentioned that one. We've got an iron condor as well as these short call spreads. SPY, we've got this iron condor. Looking for a little down movement to benefit that one. XLE, I already mentioned that one. Not enough to take off yet. XLV, XRT. We are in the profit on this one, just waiting for a little bit more profit. We're not up $249. We've had several adjustments and rolls in here, but we are to the point of just into the profit. So just waiting a little bit longer on that one. And again, we've got 35 days left in April. So no hurry to manage or roll that one at this point. So again, I really love our mix. I had a great week with all the implied volatility coming in, of booking some profits, but we want more. So hopefully get an opportunity to put some more trades on next week and manage some of our current ones. So stay tuned for that. Everybody have a great weekend. Talk to you next week.