 Hey everyone, welcome to this week's video update today's Friday April 3rd We're gonna review all of the trades and all of the positions for Pro members before we get started who got caught being hot this week goes to our friend and Misha are Congrats Misha. You can I can tell that You know from the questions and posts. They're just they're really diligent about learning these strategies in detail and I love to see that and You know, it's cool when the light bulb finally comes on when you grasp certain things that we're kind of confusing at first So keep up the good work Misha. You got caught being hot All right, let's jump into the alerts for the week Little little light on the number of alerts overall Just we're kind of just kind of letting our positions work for us But the first one on Monday was an opening adjusting trade in qqq So we added a set of short call verticals as the market started to move higher We wanted to continue to add some short delta in so we did so in this case in qqq So let's go to the platform and take a look at the cues And so we've got two different sets of short call verticals One of them is this one price is just outside of our range. So we need a little bit of down movement to get back in and the other Is in range and we've got a little bit of profit here. So just holding these for that short delta exposure Next trade opening trade in xli. So again adding some more short delta in this case We used a the bunker strategy did this with 81 days to expiration now one question I got in the community I want to make sure I clarify this because in the in the criteria that we talked about in the course We're talking about using I think this I think it's specifically a hundred to a hundred and forty days To expirations when we like to enter you can do less like we did here And here's the reason I did that is because we're looking at it from a perspective of just wanting a or potentially getting a quick move in The market, you know, so we're only going to begin this trade you know less than 30 days most likely and so that's why it was okay to do a little bit less DTE if we're just purely adding short delta, you know And the normal market when the market's going higher kind of thing We might do a little bit further dated options, but in this case, that's why we did 81 So let's take a look at XL I And so here we are so we're down a little bit down about a hundred plus bucks on the trade But again the value here is we have very little risk for the upside But we have a huge potential for downside if this market falls apart again, which is kind of what we're what we're potentially expecting Next trade opening adjusting trade in SPY so we added an iron condor in SPY You can see the next trade was closing an SPY iron condor So we booked over 50% of it of max on that one And we wanted to you know keep this trade going so we added this one You could almost look at this as rolling an iron condor I mean in this case, you know, we did it for a different number of contracts But we you can't with the platforms you can't technically roll Four-legged spreads in one transaction So essentially we just we opened one and then we closed the other one and so let's take a look at SPI to see SPY to see Where we're at on this one Here it is so we've got a little bit of profit here just waiting for some more time to pass and some more theta to decay Next trade opening trade in SPY so we entered an iron duck did this with eight days to expiration and Just trying to we did that on a down day Just trying to just trying to layer in some ducks with the market going up recently We've kind of stayed away from them, but here's where that's at So we've got a little bit of profit in the beak at this point So just waiting for time to pass and this one expires on the 10th So the 9th is the last trading day So we will hold this close to expiration and if we get a little bit of a down move Obviously have that potential for the big duck head. Otherwise, if it rips higher, we'll we'll take the beak Next trade rolling dusting trade in ZB So we've got two different sets of strangles on in bonds rolled this one out from 22 out to 50 days to expiration Still holding our other one and we're gonna address that one next week So this is was it 22 days to expiration today is actually 21 Just trying to spread out these rolls So I'm gonna hold the other one over the weekend. Hopefully we get a little bit of a down movement in bond and get some better pricing on our roll Let's take a look at both pieces in bonds So here is Here's here's the one that we still have on With 21 days to expiration you can see prices way out of the range here Could use some down moving to get back closer to the range and then we'll roll that out That's just slightly inverted and then this one inverted as well and you can see prices move down a little bit since we put this on You know, we've made up over a thousand dollars just since we've rolled this So if we can get some more down movement in bonds start to recoup some of those losses that we currently have That's what we are hoping for Next trade opening trade in SPX. So we added a new double calendar in a new weekly double calendar in SPX It appeared the implied volatility was kind of contracting between the front and back week So looked like a good point of entry and so let's take a look at that So here's here's what that looks like So you actually could have got in today at a little bit better prices but it's pretty close to where we put it on and If you we set our slices to break even 410 Let's move this one over You can see we got a nice 75 plus percent probability of success on this trade if we move that Theoretically through time, of course, this is assuming You know Volatility stays the same which we know won't happen, but you know potential to 600 to 1200 bucks You know next week if we can if we can stay in our range here. So I like those probabilities and Then the next trade was closing what we had we already had on a weekly double calendar From last week and so we closed this one out today was the last day of trading So we needed to exit Unfortunately, we did get a little bit of crush in between the front and back weeks of the volatility here So we we basically booked this one for a break even I think we booked 15 bucks of profit I know some of the members held on and we got this Down movement in the market and so I know a lot of you were able to book Much better profits than us so congrats on that and then lastly closing trade in TLT So we had another double calendar in TLT. So booked a few hundred bucks on that one All right other positions six e We've got this what used to be a strangle. We adjusted it into a straddle Price is kind of hanging out right here in the lower end if we look at the untested side Which is the calls still got a decent chunk of premium that premium in there So we're not looking to roll our calls down quite yet But if it moves much lower plus we've got 35 days left to expiration. So not looking to roll out in time yet To back-to-back big boy moves in oil Yesterday was up big and then again up today over 11% So that is helping our positions remember we've got two strangles on actually though the second one that we put on Is actually down and it's now hanging out in the upper end of the range and then we've got our other one which Since we rolled it's gained back over four over forty two hundred dollars Since then so working our way back in oil after that massive disastrous move that we had Yes, we've got a long put vertical in here holding for short delta. You see prices right here inside the range GC gold we've got this iron condor and this is crazy ever since we put this on I mean at one point the P&L line was way down here Just do the implied volatility spike after we put this on so we've basically I got basically got no P&L Down slightly on this but hopefully we can start getting some theta decay now that Volatility is slightly calmed down Natty gas up big today up 6% which is helpful It's moving us back into our back into range if we look at the untested side here on the calls You can see that we've we've got a little we've got a good chunk of premium left there So not quite ready to roll those down yet, and we've got 24 days to expiration So next week we wrote we will be rolling this one out in time Mentioned ZB wheat so we've got an iron condor here and wheat We're close to a point where we can take this off. I would like to keep this trade going So we'll probably add another iron condor next week again You know wheat's a very uncorrelated asset to the rest of the market. So it's good to have Positions like that in our overall portfolio Apple down a couple percent today. You can see we've got some profit on this piece This one's still in April. So if we get a little bit of a move next week We will potentially roll this or or or just book it Next week. We'll see where we're at with our overall short Delta Speaking of we're we're pretty Delta neutral right now As we added those short Delta positions on we were a little bit long which helped on this upswing And then we've been just slowly adding more short Delta back in and so we are Pretty Delta neutral right now DE John Deere down a little over three and a half percent today We've got two sets of the short call verticals one is way out of the range after the big move that we had there and Then the other one that we've got we added on as price went up. So it's just just outside range So just looking for some downside to get back get back in DIA we've got these two sets of short call verticals both in May one is out of range right there The other is Just inside the range. So again just holding that for that short Delta exposure Same with IWM similar to Apple. This one is in April. So if we get a little bit more movement down Early next week, we will potentially roll or close that one Going through some of these other short Delta positions QQQ. We've got two sets already mentioned that one SMH we've got this adjusted strangle price making the move up has helped We're up about 700 plus after after the roll on this one. So we're just continuing to wait that one's in May Mention SPX SPY mentioned both of those When one of our bunker trades doing nicely, you can see we're up about 500 plus bucks That's kind of bouncing around right now, but for 50 $500. I got a question in the community from Vern You know, is this a point where we should take this off? You certainly can I mean if it depends on your positions your portfolio So you got to make that decision of when you want to take this off Closing these down moves in a bunker is kind of subjective to you know You've got to have an assumption, you know, what how low do you think this is gonna go? We put this on up here. We've gotten this nice down move. We're holding this to break new lows So we we want to see price under $35 Before we're gonna probably take this one off. So that's that's our plan and win But because a we want the short Delta B. We think it's going lower And so that's our that's our position and win if you are in a different position You could obviously take it off quicker or you know, do what you need that best fits your portfolio Xbi we've got this adjusted strangle here prices hanging out pretty close to where we did the roll could use a little bit more up movement in Xbi I mentioned Xli XLK another short Delta position We've got this long put vertical price hanging out just outside the range Need a little bit of down movement to get back in and then XRT another couple of bunkers. So we've got We've got two different sets here We've got one that is a four by eight and you can see we're up a two 70 plus on that one and Then the other one which is a five by ten Excuse me. This is the eight by four. We're up 157 on this one So where are we looking to take this off of kind of a similar situation if we break $26 if we if we go lower there You know, I I'd be apt to potentially take one of those off I just I would prefer to probably hold it until it goes much lower more in the 24 to 22 level I just think you know retail and the market has more room to the downside So that is our assumption make sure you're playing it based on your portfolio and your assumptions We'll obviously send the alerts when we do something and keep you updated in the community Hope that was helpful. Everybody have a fantastic weekend. We'll catch you next week