 What's up, Navigation Traders? Welcome to this week's video update. Today's Friday, March 29th. We're gonna be reviewing our trades for the week. This is exclusively for our pro members. Before we do that, let's jump into the community and discuss who got caught being hot this week. Each week, we'd like to recognize one member of the community. This week goes to our friend Brent Crowley. Brent sent over a spreadsheet that he personally worked on himself. This includes some pivot tables. In fact, let me give you a quick sneak peek. This is what it looks like. So this is all of our closed trades going all the way back to when we first started posting in June of 2017, all the way through. So the cool thing about this table is we can simply add them to the end and it updates all these other tables which break down all the strategy. Breaks it down by strategy. Breaks it down whether it's a future versus a non-future symbol. Breaks it down by symbols to give you kind of the overall profits per symbol. Breaks it down by strategy so you can get an idea of what the total profits were per strategy and then also average profit per strategy. So some pretty cool stuff. I wanna take it even a step further here and kind of break it down by month and year and we'll do some other cool stuff with it and this is something that I will share with you all as well. But big shout out to Brent. Thanks for putting that together, Brent. You got caught being hot. All right, let's jump into the alerts for the week. If we take a look starting with Monday the 25th was our first alert and that was an opening adjusting trade in ZN which is the notes. So we just added a short strangle in the notes and implied volatility on TLT got up to 85, IEF was at 61 and so we just went ahead and added to this. So if we take a look at ZN, you can see earlier this week, Wednesday, the Fed came out and said that they are holding steady on rates so they did not increase rates and that was positive for the bond market, bond and note market so you saw that it shot up. Now it's kind of retraced the last couple of days but that's where we are in the notes. So we've got two pieces on here. We've got our straddle here that we adjusted into after price moved up, reached our break even, we rolled up our untested side which in this case was the puts and so this is what that looks like here. Price has moved up since then so we need a little bit of downside movement in the notes to get back into range there and then we've also got our, this is the alert that we sent out so this is the short strangle so we just added some more credit trying to work our way out of that one. So that one's dead centered, nothing to do there except for weight at this point. Next trade was an opening adjusting trade in DIA so we added an iron condor in DIA. You know we've had kind of those short call verticals that were originally part of iron condors and we've got one of those on left which is this here so we could use a little bit of downside to get back into range there but then we went ahead and added an iron condor on here because implied volatility did spike earlier this week and price has moved up a little bit since then but still well within range here on our iron condor so just continuing to hold that at this point. Next trade was a rolling adjusting trade in CL which is oil so we're getting down to that 21 days to expiration so when we have uncovered options, naked options we like to roll those when we get down to around that 21 days because the risk, the gamma starts to accelerate at that point and so we went ahead and rolled out to June with 51 days and so what we did here is price moved higher so we just adjusted our puts up from 56 to 58 so we had the 56 straddle we just rolled our puts up two strikes and so now we've got the minus 58 puts and the minus 56 calls in June. Before we go to the platform let me just skip up to today because we did another roll in CL as well so we had two pieces on in oil so that was the first one. Our second piece was still in May but we just gave it a few days to kind of spread out these rolls so at this point we were 18 days to expiration and with this one we just rolled kept basically the same strikes the only difference is because we already had the minus 58 put in June we just chose the 57 and a half so that we didn't overlap there so now we've got the 53 call and the 57 and a half put in June as well so let's go to the platform I will hopefully tie that together for ya so these are the two pieces so we've got the 53, let me reset this so I can check the correct boxes so we've got the 53 call and the 57 and a half put okay so that's this one here price is hanging out in the upper end of the range so definitely could use some downside in oil to get back there you know I was hoping earlier this week you know when we came down here I mean if we just went down another dollar or so I mean we literally could have been out of these trades with a profit that's how close we are course price ripped back higher so we just we need to stay in it and extend duration but we're pretty close in this one after that huge massive move that we battled out of almost I mean we were that far away from even getting out this week at a profit but I think we'll still be able to manage just fine so anyway let me go back to the analyze tab so that's that piece and then our other one which was a 56 straddle and now is a 56 call 58 put price is hanging out right here so again just a little bit of a you know a couple moves down to a couple points down to 58 or 57 I mean we're gonna be in really good shape on this trade obviously if price does continue higher we'll stay mechanical continue to roll our positions roll our untested side and do exactly like we teach in the course alright so let me jump back here back in the line back into order so there's that oil next one was a closing adjusting trade in wheat so we had on two different iron condors price moved higher and so we closed out the put vertical side of one of those iron condors so we're still holding the call side and so if we go to wheat let's take a look at that piece first which would be this one here so price came out breached our break even now prices come all the way back into range the last couple days nice move down into wheat so if we get down to about 450 we'll just take this one off book a profit overall on that piece and then we're still holding this iron condor here where we've got some profit but not enough to take off yet so just holding on at this point to wheat next trade was a closing trade in TLT so ended up taking a loss on this one just cutting losses couple reasons one when I showed you the notes I already mentioned that the Fed came out and held steady on rates okay so really the wind at the back is really to the upside on notes and bonds now there's nothing that says in the short term for sure that this thing can come down but you know I just my personal assumption anticipation is that notes and bonds will you know if they do come back a little bit they will continue to the upside but you know who knows that I could definitely be wrong but I like to play with things with the wind at my back a little bit and at this point wind is at the back of higher prices in notes and bonds and the fact is we've already got exposure in the notes you know so I didn't want that much short exposure and when I say short exposure that one's pretty delta neutral but remember what I showed you here on this piece on the straddle we're bearish here right we need that to move down as well so those couple things in conjunction you know with what the Fed did you know I just didn't want that much exposure short exposure in the notes and bonds together and so for that reason I cut loose TLT and just took a loss on that one so it was about $875 a loss so not a good one not one that I like to do I did get a question in the community about hey you know can't why didn't we or why you know can't we roll this yeah absolutely you certainly could extend duration but again I just didn't want to keep that short exposure in that category at this point next trade was an opening adjusting trade in IWM and that's the Russell 2000 so we just added an iron condor in IWM applied volatility percentile spiked up to 62 at that point and so we went ahead and added that one on so if we take a look at IWM here is what that looks like and today we took off our other one for a profit so this is the alert we sent out this is the new one that we added so price still pretty centered not looking to do anything here except for weight on that one next trade was a closing trade in FXI so we booked our iron condor there booked around 30% of max profit on that trade remember that was a pretty tight iron condor so we weren't waiting for the full 40% there or 50% we went ahead and booked 30 on that and implied volatility contracted you know down at the level of 10 so we went ahead and closed that out booked a nice profit there next trade was a rolling adjusting trade in XRT which is the retail ETF and so we just rolled our short strangle from April got down to that 21 days to expiration rolled it out to May with 50 kept our strikes exactly the same you know I just mentioned we need lower prices here and we're not going to add to this because implied volatility is fairly low you can see the IV percentile at that time was 15 if we take a look at XRT it has moved down a little bit since that roll just looking for a little bit more downside to benefit that and of course if implied volatility does pick up in there we would potentially add to this but I mean look at this it's gotten even lower IV percentile of two IV rank of four so definitely not looking to add to that one at this point next one rolling adjusting trade in SMH this was a very similar position where we had an inverted strangle we just rolled this out from April to May we were down under that 21 days to expiration we were at 20 so we kept the strikes the same and then we've also got another set of short strangles in April so that's under 21 days to expiration as well but we just want to spread out these rolls we don't want to do it all on one day and so that's where we're at here let's take a look at SMH so we've got these two pieces on we've got the one that we just rolled out to May and that's this one here so you can see price is kind of hanging out in the upper end of the range we just need a little bit of down movement to get back into good shape there and then this one here has not been adjusted and this one's still in April now what I'm hoping happens is that we just get all we need is a little tiny move into early next week and we'll just go ahead and close this one out and book it if it does continue higher early next week however we'll roll up the puts and roll out to May so we'll roll up the puts to around the 30 delta and then we'll roll that out to May to extend duration on the trade obviously the best would be if it just moved a little move down we went ahead and booked that got out of it and then just kept our other piece that's already in May so we'll see what happens and next trade rolling adjusting trade in CL I already went over that one that was the second piece in oil that we rolled and then lastly today our closing adjusting trade in IWM where we closed out that other iron condor booked over 45% of max profit on that piece of the trade and I already showed you IWM on the charts all right so those are all the alerts let's take a look at some of our other positions starting with four slash six B which is the British pound now applied volatility has stayed high in here because there is still some fear or uncertainty I should say around the whole Brexit issue that's going on in Europe and the UK the date has been extended on the final decision of that so if we look at FXB which is the corresponding ETF you can see I mean look at this implied volatility it's been high for a long time which has been good to trade with but we need a little bit of a contraction here to get back to profits in six B we're basically at break even on the trade overall but looking to get some profits I mentioned CL ES we've got this long put vertical that we're just holding for that short delta exposure speaking of short delta we are at about two to one on our short delta versus theta ratio so decent little position there I mean right where we want to be I mean two to three to one either two to one or three to one is ideal remember we fluctuate within that range of between one to one and five to one typically but we're in good shape on our overall ratio there Natty gas we need some upside movement in that gas here are two pieces combined if we break these up and take a look here's the first one you can see prices hanging out here down here that lower end of the range if we look at just the calls what you'll see is we still got a decent amount of premium so nothing, no urgency to adjust that yet and then here's the other piece where prices is down here out of range if we take a look at just the calls here again we've got a little bit of wiggle room to let it go if it does continue lower we will continue to stay mechanical roll down those calls and just continue to play the game I mentioned ZN, mentioned ZW I mentioned DIA, Disney we've got a short strangle on in Disney dead centered got some profit just waiting for some more before we take that off EEM, we've got this short call vertical we're basically at break even on the trade overall even after a couple of adjustments so just looking for a little bit of downside if we can get down to 41.5 bucks just couple bucks lower, buck and a half lower we can book a nice profit here of over $400 on the trade but we need that downside I was hoping we were earlier this week we were down here I was hoping we were gonna just continue to roll over but of course popped a ted up and now we're back here to our break even point on the trade so just continuing to wait there EWZ got a short strangle on here implied volatility spiked higher earlier this week sold some premium we've got a little bit of profit here but not quite enough to take off I mentioned IWM IYR we've got this tight iron condor now this is one where we could have adjusted today I looked at it to adjust but figured I'd give it over the weekend see if we can get a little bit more downside get back into range here if we take a look at just our untested side you can see a lot of that premium sucked out of there but we still have a little bit of room a little bit of leeway to let this go and that's why I just held it over the weekend hopefully we get back into range early next week if not we will close out the untested side as far as the implied volatility yeah it's creeping back down again so probably would not be looking to add to this unless implied volatility popped higher J&J I looked at getting out of this one for a profit of a couple hundred dollars but we really were looking for at least 20% we're at about $250 of profit unfortunately it's come down a little bit since then with implied volatility contracting but if we can get a quick pop higher into early next week we'll go ahead and take this one off NVIDIA NVIDIA this one's been kind of frustrating price was way down here we almost had to adjust to this side and then it ripped back higher as it dead centered but we didn't quite have enough profit at that time to take it off and now it's ripped even higher now hanging out in the upper end of the range so if we can just get a little bit of a downside movement back down to about the 170 level we should be able to book a nice profit here obviously if it continues higher we'll close out the untested side and see what happens you know there is not earnings coming up anytime soon so we don't have to worry about that for a while so we've got some time in NVIDIA we are in the April cycle so we've got 20 days there so got some time hopefully we get a little bit of downside in NVIDIA and we can book that one QQQ we've got these two sets of short call verticals one of them just out of range here so looking for some downside to benefit that the other is in the profit but just waiting for some more before we do anything there so holding those for that short delta exposure I mentioned SMH SPY we've got an iron condor here spread this out so you can see it a little bit better price is hanging out up here in the upper end of the range so a little bit more theta decay a little bit of downside movement would benefit that XLK need some downside to get back into range here this is a long put vertical that we put on specifically for that short delta exposure and we've rolled a couple times and so just continuing to hold that one at this point and XRT I mentioned that one just looking for a little bit of downside more time to pass before we do anything there so those are all the alerts those are all the trades the other thing I was gonna show you guys is in the members area if you look at current portfolio I've started adding the image of the actual analyzed tab so if you scroll down here as we kinda make these adjustments and add trades we're adding that in you'll see a couple that still don't have it cause we haven't made an adjustment yet or anything but hopefully that's helpful one thing we were planning on putting the current portfolio and the closed trades and everything in the community the problem is unfortunately with that platform it does not allow us to post things without members being able to comment and when you comment kinda brings it up to the beginning of the string and so we're looking for a way to be able to post those so they're just static so that members can view them without posting on them and kinda messing up the order so we're working on that but for now it's gonna stay in the members area so if you need to go back into the current portfolio and ever view these figure out where exactly we're at on the trade it is all there so hopefully that's helpful everybody have a great weekend look forward to another great weekend of trading next week somebody bring us some high implied volatility we need it have a good weekend everybody talk to you soon