 What's up, Navigation Traders? Friday, March 2nd, welcome to this week's video update. Before we jump into the alerts, just wanted to touch on the web class that we did yesterday on Thursday. It was awesome. If you didn't make it, we did a Tasty Works web class and that really the focus of it was to go over the new analyze mode that they have available. So we've been waiting on this for a while. It was an awesome web class. If you didn't get a chance to see it, we sent out the recording. So you should be getting an email or you already got an email, giving you the link to watch the recording. So highly recommended, even if you don't use Tasty Works at this point, you definitely want to check it out because there's some really cool stuff they're doing over there. They're not offering options on futures yet, so that should be coming out in the next couple of weeks and we will eventually be migrating over to Tasty Works. They have an extremely attractive commission schedule with no closing commission costs. You can get more information too if you just go to our Proverred Brokers tab up here, click on Tasty Works, learn more and you can check out the commission schedule, a dollar to open, zero to close and you can see the others as well. So it's pretty awesome. Check it out if you haven't already but definitely watch that web class because it was great. Ryan Grace, who does all the tutorials, kind of knows that platform better than anybody else, did a great job of giving us an overview. So good stuff. So let's go to the alerts for the week and if we go back to Monday, which was the 26th, our first trade was an opening trade. We sold an iron condor in GLD. So if we take a look at GLD on the charts, you can see implied volatility. It's actually come down a little bit today but when we put this on, you can see we're pretty much still fairly centered, no profit or loss yet. So just waiting for some more time to pass on that one. Next trade was an opening adjusting trade in wheat. So we opened a new iron condor in wheat and if we take a look, wheat has had a huge move, kind of a crazy ride this week. I was hoping to get out of our wheat trade all together and book a profit then we had this huge move. So we had to make a couple adjustments. We added this iron condor, which is this alert I just mentioned, price still well within the range here but the other piece of this that I was hoping to get out of this week kind of moved against us. So now we need a little bit of a down movement in wheat to benefit that but we'll just stay mechanically, stay mechanical, keep adding closing profitable positions until we get to the point where we take it off. So that is the name of the game. Next trade was a closing adjusting trade in DIA. So we closed out our short put vertical. This was originally part of an iron condor and price came all the way back into our range so we booked a profit in that piece of the iron condor. If we look at DIA, we've still got a couple other pieces left and one with four contracts, one with three and these are both short call verticals. So just need a little bit more down movement in DIA to benefit these. Take a look at this one, pretty close. Strikes are just one strike different. So you can see they're pretty similar trades. So kind of a crazy ride in the markets as well. You had a huge down day. Thought we were gonna continue lower and then had about midday a rally back all the way back up to where we are now. So kind of a crazy ride, the volatility is here and hopefully it's here to stay. So that's what we love as premium sellers. Next trade was a rolling adjusting trade in EWW. So we had an inverted strangle so we rolled that from March to April and we kept the strikes exactly the same. So now we're short the 51 calls and the 52 puts. So if we take a look at EWW, you can see we've had with the rest of the market quite a bit of a down move this week. But you can see we're still well within our range here. So just need some more time to pass before we get out of that one. Next trade was an opening trade in Nat Gas, opening adjusting trade. So we added an iron condor in Nat Gas. So if we take a look here, we've got this full iron condor here. The next alert that I sent out was the closing adjusting trade. Actually it was a few alerts up here. So yeah, here's the closing adjusting trade. So we got out of that one and then we had entered this one. So just got the one iron condor in Nat Gas, just waiting for some more time to pass there. And then let's see where were we here. Nat Gas, next was FXI. So we did a rolling adjusting trade in FXI. Quite a few rolling and adjusting trades this week as we were getting close to that, under 21 days to expiration in March and just the positions in general. So we did quite a few rolling adjusting. This one in FXI. So we basically, we rolled this from March to April. Again, keeping strikes the same. So we've got the minus 50 calls, minus 50 puts. So essentially a 50 straddle. And then we're also holding our other adjusted straddling in April with the 47 puts, 48 calls. So let's take a look at FXI. So here's the one with three contracts. It's the 47 put, 48 calls. So you see we've gotten back some profit in that one. We're gonna continue to keep that on till we get more of a contraction in implied volatility. You can see that's staying very high. And then the other piece of that trade is the 50 put and call. So you can see price is hanging out near our lower end of our range. But if we look at the calls, still got a ton of premium in those. So no reason to adjust or do anything in that one. So still continuing to hold there. Next trade was a closing adjusting trade in SPY. So we closed out our put vertical side of our iron condor. Price breached our upside break even. So we closed the untested side. And then, and if we take a look at SPY, one of our later alerts was adding this iron condor. So this is what we have on here. We got this full iron condor in SPY. Next trade was a rolling adjusting trade in XRT. So we rolled our adjusted strangle from March to April. You know, like I said, under 21 days. So in this case, 17 days to expiration. We wanted to extend duration. So if we take a look at XRT, you can see we've got this 46 call, 46 put straddle. So just waiting for some more time to pass, waiting for some more implied volatility contraction. Applied volatility stay in bid here. So continuing to keep on and add positions here while we can. Next trade, I mentioned that closing adjusting trade in that gas. Then we had a post earnings short put vertical. So this is what we like to do and is taught in our earnings course. If a stock gaps up above its expected move after they announce earnings, we like to sell puts or in this case, a short put vertical and look for price to kind of stabilize to grind higher. And I did mention too, so price line PCLN just simply changed their ticker to BKNG is now booking.com. So just in case you were confused there, I wanted to add that note. So if you take a look at BKNG, you can see this is right after earnings. We have had a dip, it came all the way back up today. So we're fairly close to even, yeah, down just slightly. So just need a little bit of up movement. It's keeping some long deltate in our portfolio to help balance that out. So we'll continue to wait on that one. Next trade was a rolling adjusting trade in Ford slash 6E, which is the Euro. So remember on the options on futures, you can't do the roll in one transaction. So we essentially had to buy back that position and reenter by reselling this one. And so we were rolling our calls down because there's very little value left in them. And then with 36 days to expiration, we wanted to stay in the same cycle. So we didn't roll out, we just simply rolled our calls down. And so now we hold these strikes here. So if we go to the platform, this is what we're looking like. So could use a little bit of down movement. So a little bit more, we need some contraction in IV, a little bit more time to pass and we'll continue to hold on that. Now, if price starts to move outside of our range, one direction or another, we will be adding another centered strangle to adjust that position. So if it continues to move higher out of this range, we'll add another one, collect more credit, continue to extend duration and benefit from the high IV here. Next trade was opening adjusting trade in SPY. So that's that iron condor that I already mentioned in SPY. We had a closing adjusting trade in SPY. So this was our call vertical when we had the big down movement the last few days, price came all the way back into our range. We were able to book a profit on that March iron condor and snap. So now we're just still holding the iron condor in April that I already showed you. Next trade, a closing adjusting trade in XLV. So we had a couple of different iron condors on here, had adjusted both of them based on price going through to break even. And this one price came back and we closed out the call vertical, booked a nice profit on that iron condor and then we're still holding this piece, which is the short put vertical in March so we could use some up movement to benefit that piece. Then the next trade we put on, the next alert sent out was adding another iron condor here. So you can see this is still very centered. Now I remember with XLV, because it is a kind of a lower priced symbol, it's under a hundred bucks, a lot of times if we're gonna do a defined risk trade like an iron condor, we get these short strikes a little bit tighter. So a little bit closer to price to collect enough credit to make it worthwhile. So if you look at the deltas on our April position here, you'll see the short strikes are at the 32 delta currently and the 26, so price has moved a little bit, but instead of doing kind of the 18 or the 22, we wanted to go a little bit tighter, collect more credit and that's what we like to do to make those defined risk trades worthwhile with transaction cost and everything else. If it was a larger price, you know, over $100 or so, then we would probably go a little bit wider, kind of that standard 20 delta is where we'd sell our short strikes, but on lower priced ones, we like to get in a little bit closer to price. Next trade was an, I already mentioned that, that's the iron condor that we added in XLV and then lastly, today, Friday, we added a new position in EWZ. So implied volatility popped its head back up in EWZ, take a look at the chart and actually when we put this on, it was up here in the 80s. What did I say it was at when we put it on? Yeah, it was at 86. Now at the end of the day, I'm recording this after the market closed on Friday, you can see it's already dropped all the way back down to 61, so with that up move, you know, price was down, price moved all the way back up, volatility contracted pretty good there. So if we look at our Analyze tab, you can see we've got a little bit of profit, but not enough to take off yet, just need some more time to pass in that one. So those are all the alerts. Let's take a look at some of the other positions we have. We've got this long put vertical in ES. Earlier today, the price is actually down into our range and then with the midday rally into the close, moved back out of our range, but we just need some more down movement to benefit that piece. We've also got this iron condor in ES, got some profit here, not enough to take off yet. I already mentioned that gas. In ZN, the 10-year note, so we've got two pieces on to a trade right here. One is the 121.5 straddle, which was originally a strangle, but it's adjusted now into a straddle. So it could use some up movement to benefit that piece. And if we take a look at a chart of the notes, you know, notes and bonds have just been getting crushed lately, see this huge down move. So if we can just get a little bit of a pop up here, we'll get out of that piece on the notes. And then the other piece of that is a full strangle that we haven't had to adjust yet. And you can see it's still very centered. So just waiting for some contraction in implied volatility there. In soybeans, so we've got two pieces on here. We've got this short call vertical, so we need some downside movement in soybeans to benefit that. And then we've also got this iron condor on. I was actually trying to get filled. I think it was on Wednesday or Thursday, but the profit line was showing all the way up to about plus $200 a profit, wasn't getting filled and I didn't want to chase it. And then implied volatility or the options got more expensive, so pushed our profit line down. So we never got filled, so we're still holding that. And we'll still continue to manage that. I already mentioned wheat, apple. Man, I thought we were gonna get some downside follow-through in apple, but like the rest of the market, it fired back up. And so I thought we were actually gonna have a chance to get back to potentially a range where it made sense to roll or even just wait and see if we could get back to profit in this. But then rallied back up. So we'll see what happens next week. We still got decent amount of time in here. Still have 14 days. So if not next week, the following week, we'll look to potentially roll or we might just close that one out. We'll see where price and volatility is at that point. I already mentioned booking, I already mentioned DIA. EEM is another short position. Excuse me. Price had moved up significantly in EEM. It's called Kim all the way back down into our range here. So just looking for a little bit more downside movement. We originally put this on to add some short delta in our portfolio and we still need it. So we'll continue to keep that one on. EWW, we've got this inverted strangle here. Just looking for some more time to pass. Some more contraction in IV to benefit that. I mentioned EWZ, mentioned FXI, GLD, IWM. So we've got two pieces on here. We've got this short put vertical that was part of an iron condor. Price has come back up into our range. If we get a little bit more up movement in IWM, we'll book this one and end up booking a profit in that iron condor overall. And then we've got another full iron condor, very centered, a little bit of profit, not enough to take off yet. Cues, so we've got two short call verticals still. Price has come back nicely. Again, this is another one that we're priced all the way back into our range earlier this morning and then came back up a little bit out of our range but we'll still continue to keep these for that short delta. And you know, implied volatility stays high. We'll eventually add another iron condor in the cues to keep that going. SPY, I mentioned that one. XLE, we've got a short strangle here. So this is some exposure to the energy oil market. So still very centered, nothing to do here except for weight. XLV, I mentioned, and XRT. We've got this 46 straddle, which isn't adjusted from what was originally a strangle. So I love the positions we have on. You know, I've been kind of touching on this, the last few updates, but you know, we've got a position on in the Euro. We've got the S&Ps. We've got Nat Gas. We've got the notes. We've got soybeans, wheat. We've got some individual stocks with Apple and booking. We've got a large cap, Dow, emerging markets, Mexican ETF, Brazilian ETF, Chinese ETF, gold, small caps, cues, which is a lot of technology, SPY, which is large cap, energy, healthcare, retail. So we've got a really good diversification of symbols and strategies. So I really like where we're sitting here and we'll continue to monitor and manage and add and book profits and rinse and repeat. Hopefully next week continues to be some good trading. So everybody have a great weekend and we'll talk to you next week.