 What's up trade hackers welcome to this week's video update time in this recording is Saturday morning August 15th Hope everybody had a great week of trading I'm excited to get back into the swing of day trading next week starting on Monday. We'll be live in the live stream room So when you log in just click this live Stream room here and that will take you here. And so this is where we will be Streaming live on Monday, and we'll be doing that every day next week So looking forward to that been traveling this week. So didn't wasn't able to stream snuck in a few day trades Which I'll I'll share with you here shortly, but to start with let's just go over the trade alerts for the week Starting with Monday the 10th. So our first trade was a rolling adjusting trade in John Deere DE So we just rolled this out to extend duration price kind of got got ways out of range with very little chance of getting back So we went ahead and roll that out to September Price is hanging out right here right inside the range pretty close to where we rolled it And so just waiting for some downside action to benefit that Next trade was an opening trade and IWM So we added a new bunker or some new downside protection with this rally that we've seen We've been very patient with adding short Delta which has which has been a good benefit Now we're starting to put it back on and so So that's what we did here. We did this one with 102 days to expiration and so let's take a look at IWM So we've got a couple different positions on here and IWM. Let's just start with the bunker Which is this one here. So pretty close to where we put it on again We just we need it we like we want to see it down a big side down a big downside move to benefit that We've also got some other short Delta plays in here, which is just a couple of vertical spreads This one here price is hanging out just inside the range and then this one here both of these are in the September cycle And this one is you know up about 128 bucks since the roll So again just looking for some downside movement to benefit those if we take a look at the charts We just go to a three month Three month daily. Let's go to the get off the flexible grid Go to a three month daily. There we go. All right, so so you can see we've just been on this massive rally Here over the last couple weeks now it's starting to flatten out and come down to the downside if we look at the S&P During that same period. It's a little bit stronger. You know, it's continuing to just kind of Well, we had a big push higher and then that now it's just kind of grinding sideways to higher So and then the Nasdaq is actually Been a little bit more of the weaker one finally where we're getting a little bit more two-sided action in the Nasdaq So we're interested to see how this plays out if we can actually get a little bit of a rollover to the downside And really kind of kick in a little bit more volatility, you know, you can see that implied volatility has really been contracting Over the last couple weeks had that little spike here in the Nasdaq and then really just contracting Same thing in in the S&P Except it's just really just been grinding lower as far as the implied volatility goes and so but still I mean, you know Still 53 percentile on the SPX so not It's not look, you know, this marks not ready to lay flat and just grind higher yet You know, there's still a little bit of uncertainty out there as you can imagine with everything going on So we'll see what happens. I you know, I think we're I think I don't you know I don't think we're going to I'm not looking for a market crash But I but I'm also, you know, not looking for this thing just to rip higher I think we do kind of start to trade sideways here I think we are a little overextended to the upside so my bias would definitely be to the downside a little bit but but But more likely we'll see just some kind of two-sided choppy action, which will be good for Good for our position. So that's what we're looking for Let's go back to the alerts starting with Disney so we had a an earnings iron duck in Disney. We this thing was way up the beak So we just went ahead and let it expire So we booked 13 bucks per contract did four contracts So that's what we booked just the big profit on that one Next trade was beyond we did a earnings trade on this also It wasn't a reverse iron duck and very similar situation happened after earnings price went down So we went ahead and just let this expire in the beak We're trying to get filled to get out at somewhere around a dollar or so Just couldn't get filled so went ahead and just let this expire booked $19 per contract So we'd three on that one. So a nice little beak profit there Next trade di a so we went ahead and rolled this out This is one of our sets of short call verticals that were originally iron condor So we just kept them for that short delta exposure and by the way our short delta exposure We're right at about two to one on our ratio of short delta beta weighted to SPY Versus our theta so we're in a good position here to get a little bit of downside action in the market But won't get killed if this thing continues higher as well. So that's the That's where we're positioned in our overall portfolio for take a look at di a so we've got two of these short call verticals Both of which are in September. This one price is just outside the range and then this one price just inside the range So again, just looking for some short side to benefit those Rolling dusting trade and IWM already showed you those vertical spreads, but this is one of the long put verticals We just rolled out from August to September QQQ added a bunker in the queues as well. So same same cycle as IWM is sort of the 101 days expiration. So if we take a look at the queues Very similar. We've got a couple different short call verticals here One of which is still in August So this is the one still in August you can see price is just outside the range there And then this one is in September just outside the range there And then this is the bunker that we just added so looking for some downside action in the queues Next trade closing trade so we had another bunker on in the queues And this one was getting close to that 60 days to expiration where we want to be out of the trade where the PNL Starts to kind of sag into that valley So we just went ahead and closed that one out and then said added this bunker here. So That's what we did there Opening trade in SPX. So we added a weekly double calendar This one we did with three three days in the front weeks six days in the back. So we had We had two at this point and so just like we've been doing over the last couple months We've just taken one off on Thursday taking one off on Friday So I'll get to those closing trades here in just a moment Opening trade in SPY so we added a duck in SPY did this one with 21 days to expiration. So we've got several things going on in SPY So we had We had another one that expired but that I'll talk about that in a minute This is one that we've also been trying to get filled on now We this expires on 818 so early next week But we've actually been trying to get out of this all week We just have not been able to get filled So we've got a big profit, right? It's a hundred twenty eight dollar profits of nothing nothing great but profits a profit we get that no risk to the upside and So we've been just and it's been up far up the beak for for you know All week and we've been trying to get filled for a dollar just to book that big profit But not getting filled. So we're just holding it. We don't we don't necessarily we're not Looking for the capital capital to redeploy But if you needed to free up that capital you would just pay up a few cents So you might pay a dollar two dollar three Actually, I think we were trying to get filled at a dollar two still didn't get filled So we just let it so we'll just wait till next week try again if we don't get filled we'll just let it expire and and book that big profit so That is the plan there. We've also got a short call vertical left from an iron condor in August that we need to come back in a range now. We've got how much time do we have in August? We'll take this off next week. So we've only got six days left in August, right? So So that's the plan. We'll take that off if we don't and if obviously if we get a quick down move That'll benefit if not, we'll just close it out. We don't need any more short delta So I'm not gonna continue to roll that one like we are the cues and the DIA So I'll probably just close that piece The other thing that we have in SPY bring that up a little bit is we've got another duck and This one expires 827 so you can see prices hanging out right here If we look at the expiration, let's put our calendar on the expiration date on the 27th and then if we put our Price slice right here. You can see we've still got a 30% chance that price could come back into the duckhead So we're not looking to take this one off early. It's only when price runs up And we have a very little chance of getting back to that duckhead that will take it off early So that's that one. And then we also have this one Which we just put on this week. So this expires 9 3 and so again still a still pretty good chance This this could come down into the duckhead. So not doing anything there. And then lastly in SPY We have another iron condor Which is with an expiration of 9 19 and we're looking to book 30 to 40% of max profit here So just waiting for some more time to pass on that trade Next trade expiration trade in SPY. So this was the SPY iron deck that we just went ahead and let expire booked a big profit of $18 per contract had six contracts. So that's what we went. That's what we booked there SMH did a rolling adjusting trade in SMH. So this one we actually got assigned on our short calls and remember we talk about this in our option to sign at mini course and You know, I think I've I didn't get a lot of questions on this. So either not too many people are in this trade or They they are starting to under you guys are starting to understand Getting assigned and then it's not that big of a deal So we got assigned on our calls because we are inverted. So our calls were in the money We got assigned on our two calls. So we got 200 short shares 200 short shares of SMH stock And so what happened the next morning when I woke up and noticed this was a case. Well, all we did was we covered our Calls or in this case our 200 short shares bought that back for 172 dollars and 16 cents And then we sold two new calls at the 180 strike, which is about the 30 delta and Sold those for 310 and so we and then we kept our puts the same So we've got the 180 calls and the 153 puts. So when you get assigned again, it's it's not that scary Your risk does not change. So instead of having two short calls We just had 200 short shares of stock and we still have the puts So nothing changed except for our buying power and you know, we didn't we didn't want to hold The stock so we went ahead and just cover that and then resold new calls. And so that's where we're at here So if you take a look at this It will look a little funky to you because we got rid of those shares So it shows that we're up, you know, almost $800 But that's because primarily the puts right that we kept on they were they were as price was moving higher They're gaining your you're benefiting from that and so that's where that that gain is coming from So nothing's really changed and once we get down to around 21 days to expiration We will just roll this out to the next cycle and continue to try to manage our way back to profits in SMH Next trade closing trade in SPX. So this is the one we closed on Thursday, so we booked a small profit on this trade. It was kind of nearing our our break even We're up just a little bit You know, we want to take one off on Thursday one off on Friday So we have to just take this one off book the profit So we didn't run the risk of if we had a big gap up the next day, you know Taking a taking a sizable loss. So we close that out for a for a nice little small profit And then we also opened a new weekly double calendar and SPX. So let's take a look at that So that's hanging out pretty close to the middle Right where we put it on so Nothing to do there except for wait till next week and we'll take that one off on Thursday or Friday and Keep in mind. I mean these you know, we've gotten these this The last couple weeks we've gotten we've gotten some small profits But but not like the four on these trades But remember the reason why look what this market has done. It's done nothing but grind up What happens when market grinds up ball contracts, right? We got one little down day that kind of kind of helped for a little bit But then right back to it So you get in a situation like that these weekly double calendars are not going to perform that well You know, you get into a situation like this with some nice two-sided action That's when you're gonna see some benefit here or even like this. I mean, that's that's a great You know make some nice profits and something like that But these these grinds are tough and the fact that we were still able to squeak at a profit That's that's that's a good thing So we put that one on and then there are our next one that we closed on Friday and This one and we really had a contraction implied volatility We're price was actually pretty centered in our spread But the ball just contracted and took that away. So we took off put took that off for a small loss And that's it. So those are the alerts. Let's take a look at some of the other positions starting with ES another short delta piece. We've got a Long put vertical there price is just outside range and we've got one there just inside the range So holding that for some short delta. We've also got these two positions on in gold One of which is a full iron condor You can see prices hanging out in the lower end of the range of that and then we've got a Short call vertical from our previous iron condor. So we price ran way up here So we closed out to put vertical sudden prices come all the way back into range You know, we did get some questions about this in the community that hey, you know prices way out of range What do we do? You know, should we close it out? You know because it looks like it's gonna be a full loser and the answer is always no We we're not gonna change up our methodology just because price makes an extended move one way We're gonna we're gonna manage it just like we teach in the class Which is let the probabilities play out and and that's what's happening with gold now That doesn't mean it can't turn reverse and rip back higher and and that that's what happens But you know if we would have taken it off way out here we would have taken a sizable loss but prices come all the way back into range and You know, this is what has happened in gold at the massive move higher and it just dropped like a rock Now it's just kind of trading sideways. So that is the plan and that's why we like to you know Close out the untested side and then add a new full iron condor centered around price now Do we wish we would have waited till came back down? Yeah, maybe but we'll see how it plays out I mean we could we could end up booking profits on both of these, you know We could you know price could run lower and we could you know book a profit on that one and Then on this one if price runs lower, you know, we're it's gonna breach that break even So maybe we have to close out the untested side here It should be the call vertical side and then price could bounce back up So we're just trying to let price ping-pong around and and you know Widen our ranges by adding and then taking them off when we can book profits. So that's the plan in gold Natty gas a couple big moves up in Natty gas if we look at the chart You know, that's a big big sizable move That's a big sizable move last week. And so if we take a look prices hanging out in the upper end of our adjusted strangle So just hoping for a little bit of downside action. If not, we'll roll the puts up We've got plenty of time here. We've got 41 days expiration in our current cycle bonds We've got this adjusted strangle in bonds prices hanging out inside of our range here We're 370 since we did this roll But again, we've got plenty of time here 41 days in bonds as well and just waiting for some more time to pass on that Apple we've got a long put vertical prices just outside the range looking for a little downside action to get back in there. I Mentioned D. I mentioned IWM. I mentioned Q SMA just BX SPY X BI So we've got this what was a short strangles and a short straddle now. We're up about 570 some dollars since we've done this roll and Again, this is already out in September. We've got 34 days not looking to do anything But just let theta to K here for us And then lastly XL K. So this is another short delta piece just outside the range looking for some downside action to get back in So those are all the trades. Those are all the alerts. Let's go to our day trading and check out how the week went again Very limited amount of trade. We had our first live stream day on Monday Took six different trades staying super small. I was just trying to get accommodated with You know trading and live streaming at the same time ended up basically a scratch day lost 18 bucks Let's hope it to come out of the gate hot for everybody But hopefully everybody was still just paper trading anyway. Remember 100 paper trades before you risk real money, please adhere to that because it will save you a lot of losses and Then traveling in meetings and different things the rest of the week. So I did on the 13th So this was Thursday I was able to sneak in a few mighty 90s and so booked a nice little $461 profit that day and Then Friday I did have some time in the morning So I put on a few pairs trades, which were nice gold and silver made 700 bucks on that gold silver pairs trade the Russell Nasdaq micro pairs trade about 180 plus on that one and then Tiny loss on the notes versus bonds pairs trade and then for mighty 90s all winners just tiny little winners They kind of went against me initially and then came back and I was able to get out for small profit on on on those so Looking forward to Monday getting back into the swing at my battle station For the day trading will be live streaming again to get there Just go to that live stream room and we will be there. I'll you know market opens 8 30 a.m. Central time so my time and I'll be in there 15 30 minutes before then to answer questions and get everybody up to speed before we start So hope that hope that helps everybody. Have a great weekend and we will talk to you Monday. See ya