 What's shaken navigation nation welcome to this week's video update today is Thursday April 18th Markets are closed tomorrow for Friday. So I wanted to record this to get this out to you today This is your video recap of all the alerts and all the positions Exclusively for you our pro members before we jump into the alerts Let's take a look in the community and see who got caught being hot this week Every week we like to recognize one member of our community for helping other traders and This week goes to Barry goldblatt. Congrats, Barry. You got caught being hot Thanks for all your contributions and we'll send you a private link to get some trade hacker swag So congrats Barry keep up the good work Barry's been in the community for less than a month, but it's been posting a lot of good perspective and trade ideas and things along the lines of what he's doing so Great asset to the community and we appreciate all your engagement Barry. Keep it up all right, let's jump over to the alerts and Start with the first trade was a closing trade in Johnson and Johnson, so we had a pre earnings long straddle on in J&J This one was a little bit frustrating because we had some a decent amount of profit right off the bat But not quite enough to take it off and then it turned around and just kind of waffle around and stayed in the range Instead of breaking out, which is what we needed in this pre earnings long straddle. So we took a loss on that one Next trade was a closing trade in Netflix So we had a pre earnings long strangle very similar to the pre earnings long straddle just widen the strikes out a little bit We never got an implied volatility expansion in Netflix leading up to earnings or a Decent of price movement to make this one happen. So we took a loss on that one as well Let's take a look at Netflix real quick Because the implied volatility was really interesting going in I mean look how flat-lined and it actually Contracted going into the earnings announcement. We never got that pop higher And so we were never never able to give get an opportunity to book a profit on this one And you know go into earnings IV percentile and IV rank were under 50 Which is you know, not really normal So but that just happens sometimes and you're just playing the playing the probabilities and this time it did not work out So took a loss on Netflix Next trade was a rolling adjusting trade in SPY. So we had our short call vertical and SPY and We only had two days left to expiration So we kind of held these a little bit longer than normal just because we were hoping we might buy chance Could we please get a little bit of a downside movement in the markets? But we had we were getting down to to crunch time towards expiration So we went ahead and rolled this out to May Adjusted our strikes accordingly and that kept the short Delta exposure in our portfolio. So let's take a look at SPY And you can see after the roll we've prices gone down a little bit So we've made a little bit of money since we've done the roll but kept that on extended duration and Allowed us to keep that short Delta exposure in our overall portfolio Speaking of short Delta, we are right at about five to one So we're right on the upper end of our range of where we like to be We were actually above that at the end of last week were about six to one So we've kind of tweaked and massage that down a little bit So we're back into range We'd like to get a little bit less But you know, I'm hoping that we get a little downside in the market that kind of takes care of that for us Instead of us having to put on some long Delta or cut loose anymore short Delta We did cut loose some on the DIA which I'll talk about we had an assignment there First time ever in our alert portfolio that we've gotten assigned So I'll talk about that here in a minute The other thing I want to mention before we move on here is if you noticed on my chart there's a there's a new kind of indicator plotted here and This is something that I used to use quite a bit and then I kind of forgot about it But I think this might be helpful and I've created another video that will be posting on our blog Just another couple minute video to kind of go over this But I'll go ahead and share it with you all our pro members here as well And essentially what this is doing is just plotting the expected move of the symbol that you're looking at So we're looking at SPY and so this gives us that one standard deviation move That we that we like to play in to help us get an idea of the range of that specific symbol And this is based on the options pricing and and the of that underlying security And so it's kind of like if you go to the analyze tab You've got this shaded gray area which represents one standard deviation move or about a little over 68 percent Probability that price will stay in this range of the shaded gray area between now and expiration in this case You know today is April 18th May 18th is the expiration date And so you can see that that is the kind of the the range that price should move around in Between now and expiration. Well, this is doing the exact same thing It's just given it to you on your chart on a little bit different visual So if you if you keep scrolling that gives you the the 30-day probability the 60-day the 120-day and so forth And so anyways just a good little visual tool if you want to check this out If you want to put it on your chart just go to studies This is a built-in indicator inside toss edit studies and then it's called the probability of expiring cone So you have your list over here. You can just start typing probability and it'll pop up there probability of expiring cone Just move that over to your price level and that'll show up on your chart So hopefully that helps some of you just from a quick snapshot visual perspective All right moving on Next trade was a closing adjusting trade in IYR, so we closed out the call vertical side in IYR We had originally closed the put vertical side after price back on April 5th After price breached our upside break even and then price came down really nicely Giving us a chance to take that piece off booked around 40% of max profit on that April iron condor overall And then we're still holding on to the May 1 which I'll get to in a second because we had another alert on IYR, so I'll jump to that first Next trade was an opening adjusting trade in wheat So we added an iron condor in wheat in the June cycle with 37 days to expiration We skewed this one a little bit just because we had a lot of room to the upside on our other one And so we skewed this so we had a little bit more room to the downside So let's go to the let's go to the platform. I'll show you what I mean so here is Now let's uncheck these boxes here so we can get a good look at each of these Let's see. I did these with different contracts to keep them straight. So let's first look at the one with four contracts This is the one we just put on you see prices right here So I gave it I skewed this a little bit to give us a little bit more room to the downside as you can see We have less room if the if the price moves higher But we've got more room if it moves down and the reason I did that is just because on our other one We've got a lot of room to the upside. In fact price had at one point come through and breached our Break even here. We did not close out the untested side We just give it a little bit more time and price has come all the way back into range today So you can see we got a lot of room on the upside on this one a lot of room on the downside on the other one Giving us a nice wide break even for price to bounce around in in wheat So that's where we are there just waiting for some more time to pass Next trade was an opening adjusting trade in IYR. So this is where we added that new iron condor We did this in the June cycle with 65 days to expiration, you know, we're at that kind of point with our expiration cycles one was that 30 days to expiration one was at 65 we opted to go with the one with a little bit more duration Targeting 20 to 30% on this because it's not our traditional 20 Delta iron condor. It's a little bit tighter because IYR is a lower price symbol. So let's take a look at IYR IYR is the real estate ETF This is both positions plotted, but let's look at just the May one first You can see prices hanging out kind of in the lower end of the range. Let's spread this out a little bit so you can see it better It's price is hanging out right here So we could use a little up movement to to benefit that and then the one we added here was This one here. So still pretty centered Just waiting for some more time to pass there We added this one on because a price was hanging out in the lower end of the range of the other one and implied volatility popped up Higher yesterday, you know to above it's at 61 now. It's come down a little bit But popped up to almost to that 80 80 range So that's why we wanted to sell some premium and try to take advantage of that Expansion in implied volatility Next right is opening trade in XLV and this is the healthcare ETF had some news United Healthcare announced earnings the other day and their their CEO came out and started talking about how some of the candidates are looking to disrupt the healthcare industry which could really hurt Some of these healthcare companies going forward You know healthcare etna signal all the big all the big carriers had some volatility going on and We looked at you know doing in a play in one of those individual stocks But the overall ETF had some volatility too So we would prefer to use the ETF over an individual stock and so that's what we did IV percentile jumped up to 69 at that Point I think it's gone even higher since If you look at XLV Yeah, it went up higher and now it's contracted down to about 76 But this is gone. So we're pretty pretty close to where we put it on It's not quite as centered but no profit or loss at this point. So just waiting By the way, we're gonna we're redoing our watch lists a little bit I had a couple questions from members saying hey, you know XLV is not on the iron condor watch list So why are you doing iron condors on that symbol and same with IYR? You know, we have those on our short strangle list But we don't have them on our iron condor watch list and the reason we didn't is because if you try to put on a Traditional 20 Delta iron condor you just don't collect enough credit to make it worthwhile So we kind of had that list just specific to higher price symbols where you put it on at that 20 Delta But in this case with XLV and IYR putting on a strangle. It's kind of in that weird area It's priced in the 80s but both of them are right at 85 So if you try to put on a short strangle It just uses too much buying power and if you try to do a traditional iron condor, you don't collect enough credit So what we've done here is to kind of modify is we we squeeze our short strikes in closer to price So we collect enough credit to make it worthwhile But we still buy the wings to to define that risk and so we're gonna And I under I understand our members confusion because they're saying hey This wasn't on the iron condor watch list and all of a sudden you're making trades on it. What's up? Well, that that's kind of the explanation and so we're gonna we're gonna redo that and just we're gonna add a lot of These lower priced symbols to that iron condor list including, you know, like EWW, EWZ, EEM, you know These are in their 40s, but you can still do really tight iron condors in there Especially with especially if you have a lower commission rate, you know, tasty works zero commissions to close It's not as big of a deal anymore But I just wanted to make sure I clarified that for anybody else who had that same question We'll be redoing our watch list and we'll let you know once that's once that's redone Moving on the next trade closing adjusting trade in DIA. Okay, so before the market opened I got an email from my broker thinkorswim TD Ameritrade as well as some of you also did and What happened is we got we got assigned. I mean we we came down We held this all the way to expiration day So you got to expect that you're you're gonna get assigned on some of those and this was pretty deep in the money So we did we got assigned But a this is the first assignment we've had in two years in our alerts portfolio So and we usually don't hold them this close to expiration But we're just you know again, we were basically at max loss on that short call vertical spread So there was no hurry to get out of it or roll or anything like that and this is one You know, we had we had this one. We had Nvidia. We had IYR. IYR came back We booked a profit on that one in video and DIA We were still just kind of holding to see if we get some down movement before we did anything So we were gonna close one of those to cut loose a little bit of that short Delta anyway So we got assigned on DIA. So that just made the choice for us And so what happens is then we are left with our We're left. We get assigned on that short call. So they gave us 300 short shares of DIA So all we did was we bought those backs. We closed that out And then on and then it also left us with three long calls. Okay, so we closed that out And so then we're we're out of that trade So a lot of people get a little freaked out about getting assigned and it's really not that big of a deal Even if even if you getting assigned Creates a a situation in your account Where the buying power Of that position exceeds the buying power in your account Your broker still gives you a day or two to get out of that So it's not that big of a deal your risk profile in that trade really doesn't change much But you know unless you're wanting 300 short shares of DIA You're just going to close it out, which is exactly what we did We're not interested in in carrying 300 short shares Of DIA. We had it on as a short call vertical And so we just closed that out now. We're still holding the full iron condor In DIA, so let's take a look at that it's hanging out near the upper end of its range And so if it goes too much higher, we're gonna we're gonna need to adjust this one by closing out the put vertical side If we take a look at that side, it's got very little value left in it So again, if it moves much higher at all, we'll be looking to close that out And then with implied volatility as low as it is We would not look to add another piece to this at this point We will just play it as it is But we're in May, so we got plenty of time left in May 29 days to expiration So no, uh, no need to hurry and do anything on that one But if price does move higher, we will close out the untested side Next trade rolling adjusting trade in invidia. So this was the other one I mentioned We had a short call vertical that was out of range. And so this one we did go ahead and roll And in this case we rolled from April, which again today was the last trading day So zero days to expiration Instead of rolling this out to may with 29 We just leapfrog may and went out to june with 64 days to expiration give us a little bit more duration on that trade We adjusted the strikes down a little bit. And so let's take a look at our invidia trade Uh, invidia it's gone down a little bit since our roll Price has gone down a little bit since our roll. So we've gotten a little bit back Just waiting for some more downside. Hopefully to to benefit that trade Next trade rolling adjusting trade in eem. So this was our last and final April position Same thing zero days to expiration went ahead and rolled this one out to june as well That extends duration on that trade and gives us that keeps that short delta in our portfolio So if we take a look at eem It's pretty close to where we put it on sitting right here. And so just waiting for some more downside to benefit that Next trade and our final trade of the week was a closing trade in lulus We had a resting order sitting in and we got filled A little bit a lot of our alerts go out in the morning If we can get them filled in this case we um We didn't get filled until afternoon, but we got out of this booked around 40 percent of max profit And so we're out of lulu remember we put this lulu trade on Well, first of all right after earnings it gapped up above expected moves So we were trying to get filled On a on a short put vertical to kind of ride that way back up never got filled But then we got another opportunity to jump in here And so then price has just kind of been staying higher kind of coming back lower grinding higher and we finally got out today It hit it hit new highs And we went ahead and got out and booked a profit of about 40 percent of max profit So we are completely out of lulu Let's take a look at some of our other positions starting with oil Oil has not given us much relief You can see price is out of range on this piece here If we look at just the puts just the untested side You can see we're getting to a point where if it moves too much higher We're going to need to roll these puts up But we're going to we're going to give it over the weekend this long Easter weekend. Hopefully Hopefully oil prices come down for us And so that's that piece and then we've got our other piece here as well Which is kind of the same story price has come out of our range I got about a little bit more premium in these puts, but if it goes much higher We're going to be rolling these up as well Yes, we've got this long put vertical It's hovering right around the break even here just looking for some downside to benefit that We've been keeping that on for that short delta exposure Natty gas Natty gas has not been doing us any favors either This is both positions both of our pieces together Remember, we have the same put strike at the three strike there So we just look at these together Just looking for some upside to benefit our nat gas This thing's been on just the downhill slide the last couple weeks So if we get a little bit of a bounce higher that would be greatly appreciated natty gas Uh bonds excuse me notes z n we've got two pieces on here We've got this one one twenty three and a half straddle And uh price is still well within range here got a little bit of profit since we've done this role But just waiting for some more time to pass on that And then our other piece which is a short strangle has not been adjusted yet it came through our short strike We didn't make an adjustment and it's come back into range Could use a little bit of up movement in z n it's more time to pass there before we do anything I mentioned wheat I mentioned dia I mentioned eem iwm We've got an iron condor here price is just hanging out in the upper end of that range there Uh implied volatility that every percentile did pop above 50 today But price was moving down so I did not uh I didn't add to this at this point But that is a potential if if implied volatility pops up again I yr I mentioned that one in video. I mentioned qqq. We've got these two sets of short call verticals This one price is hanging out right near the break even And this one pretty similar right near the break even so just looking for some downside to benefit those SMH we've got two pieces here prices moved out of our range on that one Kind of similar to oil You know, we're at a point where we've still got a little bit of premium left in those puts But if it moves too much higher, we're going to roll those up And then we've got this piece here Which is a another similar story where if we take a look at just the puts You can see if it moves much higher. We're going to roll those up there as well SMH even even more than the overall broad market has just been man It's been on a tear to the upside so a little bit of relief to the downside would be nice SPX we've got a calendar spread And let's delete this theoretical one You can see price is pretty close to where we put it on no profit or loss yet It's just kind of bouncing around in a very narrow range there SPY I mentioned that WFC Wells Fargo we put this on after earnings so they announced their earnings announcement And even afterwards implied volatility stayed pretty high So we sold some premium in this iron condor And now you can see implied volatility is really contracted. It was kind of a delayed contraction After after the earnings announcement, we need a little bit more up movement to benefit this one If we can get back to center, we'll we'll go ahead and book a profit there, especially with this volatility contracting XL K We've got this long put vertical looking for price to move back into range on that one holding that for that short delta exposure XL V I already mentioned this. That's that health care etf And lastly xrt the retail etf price is hanging out up here in the upper end of the range Could use a little bit of downside some more time to pass and we would book a profit on that one So that's all the trades. That's all the positions. Everybody have a great long weekend Friday is a holiday markets are closed. No alerts So we'll see you back here on monday And of course, we'll be jumping in and out of the community. So feel free to to drop us a line there as well Have a good one everybody. Talk to you next time