 What's up navigation traders happy Friday today is Friday December 1st Can't believe it is December already, but and actually let's go ahead and check that out all the closed trades for November Had a great month of closing trades all of which were winners. Oh, he had one two three four five six seven eight nine ten eleven twelve thirteen closed trades all thirteen winners So continuing to do well from that standpoint and then let's go ahead and jump into the alerts for the week If we go back to the first one, which is on 11 27 We sold a strangle in EWZ Ivy percentile got up to 85 and So we sold some premium there put on a strangle So if we take a look at EWZ pled volatility is still very high Giving us good opportunity to sell premium. You can see you can see we're still very centered So nothing to do at this point in EWZ except for weight Next trade was a rolling adjusting trade in IBM So remember on these uncovered positions like strangles and straddles once we get down to under 21 days to expiration The gamma or the risk really starts to accelerate. So we want to roll out to the next expiration cycle In this case, we were in December. So we rolled from December to January and then we also rolled our Sorry, we kept our strikes the same. So with 150 160 and So if we take a look at the charts of IBM, excuse me on the analyze tab You can see we're short the 150 call and We are short the 160 put so still very centered right there We need some more time decay that take place in IBM. I need that to go down to benefit that So we'll continue to monitor IBM Next trade was a closing adjusting trade in QQQ So we closed the put vertical side of that iron condor in the cues Price breached our upside breakeven. So we did the mechanical thing which is to close the untested side So if we take a look at the cues and I'm gonna go ahead and let's go over this one, too We added in another iron condor in the cues to take in some more credit Extend duration. This was in the January cycle. So if we take a look at what we've got on in the cues now You can see That we've got a couple of different things. We've got three different positions So this is the new iron condor that we just put on in January So you can see price is still still well within our range there Then we've got a couple of Short call verticals still in December. So the 154 157 See we need a little bit more down movement in that to benefit that piece and then we've got the 155 158 which same thing need a little bit more down movement there. So we are We've still got let's see in December We've still got 14 days left to expiration. So we got some more time for that to happen if we look at the charts you know today that news came out that You know some more about The administration with with Donald Trump and Russia during the election and so we had a big move down Apparently the market didn't really care that much. So it rallied right back up We've got tax reform going on and so that looks like it's gonna pass So so we got a positive kind of rally back up But but implied volatility staying high, you know, meaning that the market is nervous right now about About things that are going on. So just you know, it could could rip higher and implied volatility could collapse Or if we get a continuation down then implied volatility will stay nice and high So we'll continue to manage regardless of what it does and Then in next trade was in a closing adjusting trade in Ivy, excuse me IWM We had a an iron condor on there. So we close our put vertical side same kind of thing as QQQ mechanical thing to do is we adjusted by Taking off the untested side Which leaves us with this so we need it a little bit of a down move in IWM to get back in our range there And then in a later alert, which I'll mention here in a minute We put on another iron condor same thing collect more credit give ourselves more time to be right this one We put on in January. So just staying very mechanical with our adjustments and That was the trade here. So an opening adjusting trades by adding an iron condor in IWM Next trade was in XOP. We had a strangle on an XOP Book that profit for about 50% of max profit had a nice price move up and a nice contraction in implied volatility in XOP can see price popped up Contraction in implied volatility gave us the ability to book that profit from implied volatility pops back up We may look to re-enter in XOP, but as of now we are completely out Next trade was an opening adjusting trade in wheat forward slash ZW So we added another iron condor in the February cycle and then we Still holding our December cycle that actually should say January so It was a January wheat iron condor that I was trying to get filled on hadn't get quite gotten filled yet actually got filled today on Friday and So I need to make sure and change that that should be January So if we take a look at wheat So now we've just got the one on in February, which you can see is still very centered nothing to do there and The next trade we made was in ES So same kind of thing. We added an iron condor in the S&P implied volatility got up to 70 at that point And I mentioned that this could be entered as a new trade it as well So if you didn't have an ES position on With applied volatility nice and high. It was a good time to enter a new trade if you didn't have one on So we already went over ES. I should do the graph there and then here is today where we actually bought back our January Iron condor in wheat and so we got rid of that one and we added the one Yesterday in Feb so just got the one iron condor and wheat working our way out of that trade nicely back to profit Should be able you know one or one or two more cycles assuming we don't have a major move in wheat We should be able to work our way back to profit in that from that huge move that we had earlier a few months ago And then last but not least we opened a trade in the 10-year note, which is forward slash ZN so I mentioned as an alternate trade you could do a short strangle or iron condor and ZN ZB or TLT They're all very related. We use TLT the ETF to look at the IV percentile So if we look at ZN You can see here. We just put this on today. So still very centered nothing to do and TLT is the corresponding ETF So if we look at the chart of that you can see you got a huge pop up and implied volatility today Gave us that opportunity to sell some premium So let's take a look at some of the other positions. I went over ES natural gas we still have an iron condor in nat gas and You can see it's still just kind of hanging out here You need a little bit of an up-move in that gas to benefit that piece We've still got an iron condor in soybeans So you can see prices hanging out in the upper range need a little bit of a down-move and some more theta decay and time to pass to benefit that adobe Adobe has come back the last couple days nicely for us. So we've got this iron condor on Which is very centered so needs some more time to pass to benefit that And then we've also got this short call spread on from what was an iron condor and Price moved nicely back into our range with the with the down-move a couple days ago in adobe So we'll continue to monitor that Whoops don't need to go there yet By do so we've had a nice little down move in by do and We were about at break even on this trade overall including the adjustments But I'd like to get back to profit still looking for 30 to 40 percent of max profit in By do before we take that off You can see implied volatility still nice and high So if we get a nice contraction should be able to get out of that one fairly quickly Assuming we stay in a decent price range DIA we still have this short call vertical on It was previously an iron condor We will be probably looking to roll this unless we get a big move down in DIA In the next within the next couple weeks don't need to do it right away But sometime within the next couple weeks before the December expiration we'll be rolling this out to January To continue to keep that on as a short short buy a short delta in our portfolio EWW I was actually trying to get filled on this earlier this week to take off at about 30% of max profit never quite got there So probably wait for more like 40% or 50% of max profit on EWW if we take a look at the charts see implied volatility popped up on us And so we need a little bit more of a contraction a little bit more time to pass before we book a profit in EWW EWZ I already mentioned that FXI we haven't adjusted Strangle in FXI and you can see implied volatility has continued to climb in there. So Even after we rolled this to January we had a big pop and implied volatility So we're down some on this trade, but we'll continue still still well within our range So nothing to do as far as an adjustment or anything like that, but we'll continue to monitor FXI IBM we've got this adjusted strangle already went over that one IWM already went over that Q's XOP. Oh XRT the last one So we got this strangle need a little bit of a down move in XRT and some contraction in implied volatility This is another one where the implied volatility really popped up on us And so we will continue to wait in XRT So I hope that was helpful everybody have a great weekend and look forward to trading again next week. Talk to you guys later