 Happy Monday trade hackers. Welcome to today's update. Today is May 18th starting with the trade hacker question today With the recent big swings in the market is selling premium still valid So obviously a lot of our strategies are Delta neutral premium selling strategies and We want price to stay within a specific range So when you have these big swings, it can seem like, you know Is it doesn't make sense to still do those strategies because if you have a massive swing It could hit one of your break evens or break through and and go beyond your range and turn into a losing trade the answer is absolutely in fact Remember what we thrive on is selling implied volatility when it's high So when when the big swings happen when there's uncertainty in the market That's what pushes the price Of options higher and that's that's why we use the implied volatility indicator here So you're seeing you know ivy percentile is at 84 now ivy ranks at 30. So it's still decently high But that just means that the options are more expensive So you're getting more premium when you sell them now that that doesn't mean That price is always going to stay in your range But what we do know is that implied volatility is overstated over 85 percent of the time and when Implied volatility is high that is the best time to be selling premium in the market So hopefully that helps answer that question Speaking of big moves in the market s and p up a cool hundred today dow up 985 nasdaq up 228 and the russell up 86 This is what we like to call a rip your face off rally So just a big big jump today But you know in the grand scheme of things I mean we're just we're still in this little box that we have that we've been kind of trading in for the last month and a half so Nothing really uh out of the ordinary here. I know one of the pharmaceuticals came out with you know positive news about one of the vaccines for COVID-19 So that had something to do with it fed came out and said Hey, we still do have some bullets left and we'll do whatever is necessary To uh to keep this thing cranking. So that's kind of what's driving the market as far as news goes What did we do today? Well, we added a one of our weekly double calendar strategies Took off a winning iron duck And that's about it did another did another adjustment. So let's take a look at some of the other stocks I mean everything is pretty much green. You got beyond meat. That's a little bit in the red b i i b which is a biotech in the red g i l d another biotech a little bit in the red Kroger tiny bit in the red netflix Finally a little bit in the red But for the most part pretty green across the screen I mean if you look I mean especially like I mean look at bowing up over 12 percent big move for bowing Uh, some of the other airlines if we take a look at delta for example up almost 14 percent So a lot of a lot of big moves in the airline stocks as well as banks I mean you look at city group up 9 percent bank of america up six and a half percent So if you look at this, I mean the russell was up almost seven percent I mean that that's a huge move for an index the lager actually was the nasdaq So big tech kind of slowing down a little bit Although when I say slowing down, I mean you look at amazon still up 0.68 percent You look at uh, you know facebook up a percent But google up almost a percent so Definitely still up, but not leading away. I mean it's all about financials transportation airlines Travel expedia had a big move higher. So a lot of positive kind of feelings in the market today About the world getting back to a somewhat normal situation, but we will see so Everybody have a great night and we'll talk to you tomorrow