 What's up everybody? Hope everybody had a great week of trading today is Friday, September 1st Welcome to this week's video update a couple announcements one Monday is Labor Day if you didn't know we we will not be doing our Live broadcast Monday morning like we normally do so have a great long weekend relax Spend some good time with your family and come back refreshed and ready to trade on Tuesday second Don't forget if you haven't already entered make sure you if you're in your members area here Click on the learn more button for your chance to win a chance to trade or $50,000 account Just simply click on that button. It'll take you to the page Which is navigation trading comm forward slash contest you have exactly? 13 days 7 hours 48 minutes and 16 seconds at the time of this recording To to check it out got the rules and everything on here a video that goes over more about the contest And then you can just go to the application and apply so if you're interested check that out Let's let's jump into the alerts for this week So if we go back to the first trade we made of the week Was in TLT. So this was a Calendar spread that we put on in TLT So if we take a look at the chart, I will put this on implied volatility rank in IV percentiles around 10 to 12 Have a nice push up there But then today it just collapsed again. So we're we're still well within our range Got a little bit of profit, but not enough to take off yet Total risk on this trade is about 495 bucks. So 500 bucks. So we want we want about a hundred dollar profit Or more out of this one. So we'll continue to monitor TLT The next trade we put on was a closing adjusting trade in corn. So we closed out the call side So price moved down breached our downside break even closed out our call side So still holding the put vertical side in October and we've got a full iron condor in the November cycle So if we take a look at corn Here's the here's the full iron condor that we have on in November Nope, no profit or loss yet there and then our vertical. Let me reset these real quick so I can uncheck them The vertical prices just inside of our range we need a little bit of a price move up to get out of that piece And then we'll continue to monitor the November iron condor as well The the next trade we put on was in XLK. It was a closing trade So we had a straddle on in there booked over 25% of max profit in the trade for about 28 days Ivy percentile at the time was still currently at 71 if we take a look at a chart of XLK now You can see implied volatility has dropped since then So if we get a little bit of a pop back up next week in implied volatility may look to re-enter a position in XLK But a nice trade there nice profit Then next trade was an opening trade in Apple. So we sold a strangle in Apple Ivy percentile at that time was at 85 So if we take a look at a chart of Apple now About about 80 the Ivy percentile Ivy rank is 76. So still nice and high Keep in mind one of the reasons that implied volatility has stayed high even after the earnings announcement is because on September 12th, so 12 days from now Apple is announcing the new iPhone. Okay, so in anticipation of that announcement Because of the uncertainty and anticipation around that That's why implied volatility is staying high. That's why options are staying expensive So if we don't get out of the position before September 12th, just keep in mind if we're still in this By the time September 12th rolls around There could be a decent move in Apple You never know one thing that we almost know for certain not always but What we can anticipate is that this implied volatility will get crushed After they announced the new iPhone, you know, and how the market perceives it. Will they perceive it as good? Will they perceive it as You know, not so good then, you know, that's gonna determine kind of what what the price of Apple does but But what we almost know for certain is that the implied volatility is gonna get crushed Which is gonna help our position. So that's just that's a decision that you're going to have to make for me If I'm in the position Come September 12th, I'm gonna stay in But you do you do need to make the determination Are you do you want to take the risk of a major move in the stock or do you want to get out of the trade before that announcement? Now we'll be sending out the alerts So and I'll send out a reminder about that announcement But just to give you a heads up on the new iPhone announcement Next trade was in GLD. So we opened an iron condor in GLD. Ivy percentile got up around 57 which I mentioned is the highest point for implied volatility in GLD since April of this year So we will put on a small position may look to add to this if implied volatility expands Or if we get a major price move right now still very centered got a little bit of profit So if it stays right here, we'll just book that profit as it as it grows And and move on but we'll keep you keep you posted on GLD We had a closing adjusting trade in wheat So we we actually closed one of our full iron condors in wheat booked about 35% Rackmax profit on that piece of our position the Remember we've still got the whole the wheat position open And we're just kind of collecting more credit booking profits Adjusting mechanically to to continue to work our way out of that one. So we're still holding the 440 430 put vertical and the 475 466 Put vertical as well now. I'll show in a later alert and I'll go to the platform We did end up adding another iron condor here a couple of alerts later And I'll show you that here just a second but first let's talk about Amazon So we did a closing adjusting trade in Amazon where we closed out the put vertical of the iron condor So we've we've got the so we closed out the remaining put vertical So now we've just got the full iron condor in the October cycle. So if we take a look Here's what that looks like So we made a profit on the other one and now we're still in this one So just waiting for a little bit more profit before we take that one off And Then as I mentioned in wheat Opening adjusting trade so we added another iron condor in the November cycle and we're still holding the two put vertical So let's take a look at wheat had a nice move up today, which was Much needed about a point a quarter up tick So the 430 440 put vertical you can see the prices right here Still need a little bit more of an up move to to benefit that piece and then same thing with this one here We need a big up move, but we've got in October. We've still got 21 days to expiration so got a lot of time if we take a look at the charts I mean again, we've had just this massive one directional move If we can just get a nice little move up into this area here We'll be in good shape and we'll continue to potentially add positions take them off book those profits eat away at that What's currently a losing position? But this is part of the game you got to play when you get a one a huge one directional move and then here's Lastly, here's the the full iron condor that we have on obviously still very centered in that piece So we'll continue to monitor and manage that Next trade was a and last trade was today was a closing adjusting trade in Soybeans so we closed the remaining put vertical side of what was originally an iron condor so we booked profits in that piece Still holding a full iron condor in the October cycle and we'll look to potentially add another one in November depending on what price does but you can see prices hanging out up here and And So I almost added one today, but I wanted to see a little bit more price move either You know, you know potentially up before I added one on But we'll probably do that sometime early next week depending on what price does and we'll and kind of like kind of like Wheat we're still in a little bit of a hole in our in our soybean position. So continue to be adding credits and taking off profits to To make that one a winner as well So again same kind of thing not bit not as big of a move, but a pretty decent one-directional move in soybeans So working our way out of that one So those are all the alerts. Let's take a look at some of the other current positions. We have We've got in the ES. We've got this vertical on still We we had a significant profit of about six hundred dollars after the big rally to the upside Now we're right at about break even but remember the whole reason we have this position on is for that downside protection To carry that short Delta in our portfolio when the markets just continue rallying up These these short Delta positions are gonna put a little bit of a drag on our portfolio But you've got to keep these on for protection. So we'll continue to continue to keep that on and then also in the ES Futures, we've got an iron condor prices right here So still well within our range need a little bit of a move down and in a volatility contraction to benefit that I Mentioned corn, soybean wheat, apple Amazon, Baba, so I've got a couple questions about this one, you know, Alibaba is not on our Standard watch list, however And primarily due because due to the fact they a lot of times they'll have like ten point wide strikes Now they narrowed them down to five at this point and the liquidity is really good and And so the the risk reward just just worked out nicely to put this trade on we had still high You know over 50 implied volatility percentile after the earnings announcement So we didn't have any earnings or dividends or anything to worry about so made sense to put this on Still well within our range nice and centered looking for a little bit more profit to book in Baba DIA another short directional position With the price move up a little bit out of our range here So need a little bit of price move down in DIA to benefit that piece Same thing in FXC need a little bit of a down move the euro continues to be pretty strong got a little bit of selling the This week, but need a little bit more to benefit that position and we've got how many days do we have left in that? We've got 14 so Either next week or possibly the week after depending on what price does we will look to potentially either If we if we get in range get in profit We'll we'll go ahead and book that obviously but if we if we need to roll that one in the in the Week leading up to expiration. We will look to do that as well GLD I mentioned that we've got the iron condor cues got an iron condor in the cues as well and You can see still nice well within our range But need a little bit of a move down in the cues to benefit there TLT and then XRT So we've got two positions on an XRT first of which is an adjusted slightly Inverted strangle. No, excuse me not inverted but an adjusted strangle 38 39 Price is starting to move a little bit higher And so price is right here So if we if it continues higher next week, we'll make an adjustment by not only rolling the puts up But also taking the entire position out to October I I was trying to get filled on a roll out to October earlier this week didn't get filled We've got 14 days left in that I like to roll when there's you know, at least a couple two three weeks left Didn't get filled and and prices moved up on us But we will we'll look to potentially roll that next week or if we get a sharp move down We may just take that off and then continue to manage our October piece Which is which is nice and centered and and getting some getting some profit going there. So Those are all the current positions Lastly, I want to mention the close trades since it is September 1st another month is in the books so if we take a look at all of our Closed positions in August. We had 12 closed positions all profitable Which is a you know great again just booking those winners taking them off at a percent of max profit So another good month for those closing trades. And so 12 trade 12 closed trades 12 winners for a total profit of 1689 dollars and 50 cents okay, so Took some nice profits out of those trades and And so we continue to book those winners now, you know again We've got a couple pieces and in soybeans and wheat that we're working our way out of but that just means we're gonna be in the Trade for long for longer duration. You know, you wish you could just you know book the winners and Put them on and take them off Without any adjustments, but that's not the case, you know, if you look at our GLD calendar spread We had to make adjustments and it working our way out of that for profit Spy iron condor had an adjustment work that out for a profit XOP strangle had to do an adjustment there and roll that work that out for a profit So so they're not all easy. Just put them on and take them off but if you stay mechanical and continue to Adjust and roll as needed It's most consistent way to make money in this market So hope that was helpful everybody have a great weekend and we will see you next week start with trading on Tuesday. Take care