 Hey everyone, welcome to this week's video update. Today is Friday, June 5th before we jump into the alerts. Let's talk about who got caught being hot. In anticipation of our new day trading course, Joseph Rodriguez jumped in and shared a strategy that he's been looking at testing and shared that with community. Talked about continuing to kind of update us on the progress. Joseph, I have not looked into that yet, but I look forward to kind of digging in a little bit deeper to see the validity of it. So I appreciate you sharing that. In anticipation of our new day trading course that's coming soon, it was a good gun of love seeing these shared ideas. It just, even if it doesn't necessarily become a core strategy, anytime we look at different strategies, excuse me, it helps us look at the markets differently, right? It helps us say, oh, that now that's interesting. How could I apply that to something else? And and so I love that sharing these ideas. It just helps us make, helps everybody get better. So appreciate that. Joseph, you got caught being hot. All right, let's go to the alerts and I'm gonna do this from our new platform here. So much more visually enticing than our old platform. So I hope you guys enjoy this as we go through and this is gonna be, we've got a, just to give you an update on the, on this new platform, we've, we've, we're just kind of working out the last of the bugs. Again, it's taken way longer than expected, but we've got a meeting with our developer to kind of do some last minute things and hopefully it's going to roll out. Not, not next week, not next Wednesday, but probably, probably the following. So we are very close, my friends. And then shortly after that, we'll be rolling out the day trading course. So hopefully that helps. I know a lot of you have been asking about it and it is coming soon, kind of finalizing, putting some finishing touches on the course and it'll be ready to rock and roll. So exciting stuff coming. All right, starting with June 1st, Monday, the first trade was in SMH. This was a rolling adjusting trade. So as you can see the format here, we'll have the trade type in a colored block here. Orange means it was an adjustment. And obviously the symbol, the initial strategy, you've got the toss string right here. So you can still copy and paste that into toss. If you need to, got the IV percentile right here at the time we made the trade, the days to expiration. And this was a rolling trade. So our new DTE was 46, previous was 18. So you have that information right there, clearly defined. I got our trade comments here. And then the other cool thing that's new is these legs. So as you can see here, I get a lot of questions, especially from newer traders when we're putting on a trade. Well, I can't tell which one did you buy and sell because you're looking at this toss string. And if you're not familiar with that, it's kind of hard to decipher at first. So this will be very helpful. Let you know which call we sold, which strike, the amount, the actual contract may or may not be helpful, but just to give you an idea of the expiration in case it's a double calendar or something like that. So this will be available obviously here in the membership area where we post the alerts as well as in your email. So hopefully that is helpful. So SMH, we rolled this short strangle from June out to July. We were under that 21 days to expiration. So we wanted to roll out extend duration, collected a credit for doing so. And so let's take a look at SMH, go to the analyze tab. So we've got it. Well, I'll start here. We've got a bunker and obviously with the huge run up, I mean, we're just going to, we're going to take this little loss. We don't, we probably won't wait all the way till 60 days expiration. This expires on 822 as you can see here. So typically we want to be out of these by 622, but we'll probably get out of this even sooner. Just utilize that capital, maybe enter a new bunker with extended duration. So, you know, I mean, for the, for the extension of the up move that we've seen here to take a couple hundred dollar loss, I mean, that's not too bad. I mean, that's kind of what the bunker is there for to take a tiny loss of things, explode higher, but you've got a huge potential profit if things do go south. And so that is what it is. If you take a look at the short strangle here, so we adjusted it. Now after the price move higher, you can see prices hanging out up here. Now, if you look at our, remember, after we adjusted the break evens don't really matter at that point. It's really, if you look at the untested side, we still have a bunch of premium left in those options. So we're not looking to roll up our puts yet. Hopefully we get a little bit of a reversal next week and get a little bit of downside action in the market. But that's where we stand on our SMH trade right now. Next trade, XBI, kind of a similar situation rolled this from June out to July. In this one, we rolled up our puts a little bit. So we went from 95 up to 97, kept our calls at the 80 strike. So we're slightly inverted here. If we take a look at XBI on the analyze tab, XBI did not, you know, is up less than 1% today. Well, you know, the rest of the market was exploding. So still within range here, we're up a couple hundred bucks since we did this roll. And so we'll just continue to manage obviously some downside action would benefit that one as well. Next trade was an opening adjusting trade in SPY. So we added an iron condor in SPY, did this one with 46 days to expiration. So let's take a look at SPY. And today I'll get to this alert. But today we've got quite a few positions in SPY. So let me break this down. Starting with the, okay, so here is the, from this alert, the one with four contracts, here's the new iron condor. Now, big move up, obviously. So we're already hanging out in the upper end of the range. Got a question, you know, should we do anything about this? Well, no, I mean, it's still well within range. If you look at the untested side, the puts, you know, still over 50% of that premium is left in the put. So we're not doing anything with that one yet. What we did today on our other iron condor was we had one that was hanging out near the break even and it blew through. So we did close out the put side. Now we're still holding the call side, see if we can get a little bit of downside action to potentially get back down into range. So we're still holding the call vertical side of that iron condor. My as well, while we're here go over the rest of these. So we had an iron duck. You can see these are, oops, you can see these are zeroed out here. That was our iron duck that we closed today, booked a beak profit on that one. And then we've got another iron duck that we put on this week. And you can see prices hanging out right here. So if I widen this out a little bit, you can see it's already run up the beak quite a bit. You know, the way we look at this on taking it off earlier or letting it go is we want to, we want to take our price slice and set it right at the edge of the beak and make sure our calendar is on the expiration date. So if I put this on 618, you know, you can still, you can see we still have about a 22% chance that price could get back into the duckhead area. Once this gets under, you know, 10, 15%. So price is way up here and our beak is kind of maxed out. That's when we close it out early because we want to just free up that capital, redeploy it. For now, we're just going to hold this on. Obviously if market continues to rip higher, then we may take this off early, but we've got some time all the way to June 18th. So obviously still could get a move lower and potentially back into that duckhead area. So not anxious to take that one off too quickly. So let's click off that. And then if we take a look at the last piece in SPY, which is a bunker. And so similar to SMH with price running higher, where price is right up here. Now we're not, we're not ready to take this one off yet. We've still got some time, you know, to see if we, this thing could make a move lower, but if not, we'll just close out and again, extend duration by doing another bunker in a further out. Now I know, yeah, I mean, I know, I mean, when you're in a situation like this, I mean, we've had this just crazy up move off the bottoms, right? I mean, that's just a huge move. And so when that happens, you kind of start getting the feeling, gosh, should I even do any more bunkers? I mean, is the bunker legit? I mean, I've had a couple of losers in a row. Well, of course you have, because the market is just absolutely ripped higher. But we will still continue to keep those bunkers on because, hey, you're not losing very much when it does explode higher like this. And if we do, if, or I should say when we do get some downside action, you know, you're going to benefit from those two. So we will continue to add those in. And so those are all our positions in SPY. Moving on to Natty Gas. We did a rolling trade in Natty Gas. We were down to 23 days to expiration, but we had a big profit on this. You know, we're over around 40% of max and it's a straddle. So big, big profit on this since we did the roll, still working our way back to profits, kept the strikes the same. So at the 1.91 straddle. So let's take a look at NG. See where we're at there. So you can see we've made back, we've made about 170 bucks since we did this, since we did the roll, but it's pretty dead centered. So just waiting for some time to pass and theta decay in our favor. Next trade closing trade in ZW. So we're around 40% of max profit on this piece, closed it out. And we're, we actually finally got this ZW iron condor off the books. So we'd been kind of managing this for quite some time and just kind of adjusting, making adjustments. Now, you know, a lot of this was just a good learning tool. And so I continue to keep it on and just kind of adjust and roll and tweak and manage, add new ones, take them off and, and worked our way back to profit. So a good learning lesson in ZW. If you haven't looked at that, go ahead and look at the history of that. It was a long trade. So it's kind of cool to get that off the books. And now we may re enter a new one at some point. It's, you know, the problem is these grains, they trading the options on the futures on these futures are pretty expensive commission wise. So probably won't do a lot of them, but it is a good diversification. You know, it's uncorrelated with the stock market, bond market, and anything else that we trade. So having one on a small position isn't bad, even if the, even if the commissions are pretty stiff. So may look to re enter one of those at some point, maybe next week. Next trade, IWM did a rolling adjusting trade on one set of our long put verticals. We're at 16 days to expiration, but really price, the reason we did this price moved higher at a range. When we get out of range, we want to get back to a positive theta position. And so that's what we did here. We just rolled out extended duration. We want to keep that short delta in our portfolio. And so if we take a look at IWM, we've got these two different sets. We've got both of them are in July. Here's the, here's the one we'll roll this one next week as well, because it's well out of range as well. Here's the one that we rolled from June. You can see prices hanging out right at the break even. So it's gone up a little bit since we, since we did this roll. So just looking for some downside, we're holding this for that short delta exposure. Next trade is ZB. So got down to 23 days to expiration here. But again, we had a very nice profit on this piece. So I rolled a little bit before that 21 day mark where we like to roll out. And so just extended duration collected a nice credit for doing so. So if you take a look at ZB, you can see price with stocks going higher, bonds have come down. So it's a little bit left of center, but still well within range. We've made another 350 bucks since we did that roll. So just playing the waiting game in bonds. Opening trade in SPX. So we opened up a new weekly double calendar in SPX. So this was on June 4th. So yesterday and did this with the front week with eight days to expiration back week with 11. And then today with this huge price move up that we saw today and volatility contracting, we went ahead and added another one in an alert today. So we've got two of these on in the same cycle, just a very different price point. So let's take a look at SPX. So the first one is here. So it's every other I believe. Let's check mark, check, check, check. Yeah. So that one. Every other one, there we go. So here's the one. Here's the one that we from that alert that we just put on yesterday and prices already moved up here hanging out right here. So we need a little bit of downside to get back to center. And then the other one that we put on today is right here. So it's dead centered and we were up 69 bucks on it. So hopefully we can make a profit on both of these. Got a couple of questions from people, you know, asking, you know, how are we going to adjust these trades if they go back? Remember, go back to the course and understand this strategy. Please don't be trading the strategy if you don't understand how you're going to manage it. Go back to the class, review it. It's the weekly income course. We talk in detail about how we manage these. We do not adjust these. We leave them on till close to expiration and, or if we, you know, price blows out of one side and we just close it. It's either a winner or a loser. We do not adjust. These are short term trades, short duration. So we are, we're not making any adjustments to them. Next trade, rolling adjusting trade in Apple. So this is a long put vertical that we're also holding for that short Delta rolled it from June out to July. Let's take a look at Apple and prices hanging out just outside the break even here. So just looking for some downside to get back into range there. SPY opening trade. So I already showed you this, but we added this iron condor, or excuse me, this is the iron duck added this iron duck and, you know, we'll hold it till we get closer to expiration. So put this on with 13 days to expiration. So just holding that at this point. Next trade, closing adjusting trade in SPY. So this was the, I already went over all the SPY positions, but this was just the alert for closing that put vertical side of our June iron condor. So we're still holding that call vertical side opening trade in SPX. So here is that other weekly double calendar. I just showed you both of those rolling adjusting trade in DE. So we rolled this one from June out to July. Let's take a look at DE. So you can see this one prices at a range here, need some downside to get back into range. And then we've got a second one that's in July and you can see right now the market's closed. So this P and L line is not accurate. We're not up that much on this piece, but we are in range. This is the one we just rolled. So again, just holding this for some more downside benefit. Next trade, rolling adjusting trade in DIA. So again, some of these were, you know, extended out. And so we're just really trying to extend duration, get them back to a positive theta position. So DIA, we've got two sets of short call verticals here. This is the one we just rolled to pricing it out right here. And then the other one in July is way out of range. So we'll address this one next week. Squeeze this together here so you can see it. I mean, just a huge move busting out of range. So we will look to roll that one next week. You know, when you have a situation like this, I don't want to roll everything in one day, right? I mean, I like to spread that out over different expirations, over different durations, over different price points. I mean, if we get a swift move lower Monday or Tuesday, I don't want to roll everything one day and miss that on some of the bounce back or some of the pullback if that does happen. So that's why we continue to just do these methodically. Don't get too crazy. Don't try to do them all in one day just because, you know, bust it out of range. But we will look to do something with this other one next week. Next trade, closing trade in SPX. So this is our weekly double calendar. Today was the last trading day here. Now, we could have closed this. So remember with these, we closed them either one date expiration or zero days to expiration. Now, we didn't know that there's going to be this explosive move higher today. Otherwise, of course, we would have closed yesterday. Now, I know some people in the community mentioned they did close yesterday. So kudos to you. You actually booked a profit on this one. We did not price busted out of range here. And so we ended up taking a loss on this one. But, you know, we continue to manage them, you know, the way that we do, you know, I still, you know, it's very, you know, sometimes you benefit from holding to the day of expiration. Sometimes you benefit taking off one day early. That's really kind of one of that little 10% piece that's subjective. And, you know, I continue to make these updates every morning so you know kind of what we're doing. But, you know, make sure you're doing what you feel comfortable with too. As long as you're staying within those mechanical rules of one day to expiration or zero days to expiration, taking that off, that's really a personal preference. So, you know, just because we're holding till the last day doesn't mean you necessarily have to. And, but we'll, you know, we'll continue to give you our thoughts on why we're taking it off when we do. So hopefully that is helpful as you're kind of thinking through that process as well. Next trade closing trade in SPY. So this is that iron duck we closed. I already went over that. So those are all the alerts. Let's take a look at some of the other positions. Let's see, ES. We've got two different pieces on here, long put vertical. This one's just out of range. The other one's way out of range. So we'll be addressing that one next week. Gold. We've got an iron condor here in gold. Price is hanging out right here, well within range. So just waiting for some theta decay there. I already went over natty gas and bonds and apple and DE and DIA. FXI. We've got another bunker in FXI. Now we're starting to see this, you know, this, this what I call kind of a sag in the P and L. So in the, in the, in the pink line, which is the, the P and L line, the current P and L line. And so we may not, again, we may not wait all the way till June 22nd before we close this out. We'll see what happens next week. We may just close this out next week. Take a, take a tiny loss and, you know, put it on another one with extended duration for a potential downside move. I mentioned IWM QQQ. We got a couple other short call verticals again with the big move higher. These kind of blew out of range. So we will look to roll at least one of these early next week, if not both, try to spread those out. I mentioned SMH. I mentioned SPX, SPY. I mentioned XBI. Lastly, XLK. Another a long put vertical here that we'll, we'll deal with next week as well. This one is still in June. So we'll be definitely rolling this out to July at some point next week. Hopefully we can get a little bit of a down movement before we do so, but we shall see. That is all I got. Hope everybody has a great weekend and we will talk to you next week.