 What is happening Navigation Nation today is Friday, July 27th. Hope everybody had a great week of trading. Let's jump into the alerts for the week. Awesome week of trading. Had some two-sided action, especially today on Friday, which we'll get to. But let's start with the beginning of the week on 7.23. We put on our first trade. Started the week off nicely with NVIDIA. We did a pre-earnings long call in NVIDIA. So looking for price to and implied volatility to expand leading up to the announcement. We're looking for about 20% plus of profit. Good thing about this. I'm going to skip ahead to the close, but we went ahead and closed it the very next day on 7.24. Booked over 40% profit in just one day. So awesome trade there. If we take a look at a chart of NVIDIA, what you'll see is this is the day we put it on with this long blue wick on this candle here. We got in about down here. And then it came up even that day. And the next day up here, we exited for a nice trade in just one day of over 40%. So they don't announce until August 16th. And so we'll be looking for another entry. I was looking at it here the very next day when it came down. And of course you always want to try to catch tops and bottoms, but that's not the reality. So I didn't get in here, which as you can see, it would have been another winner. But hopefully it gives us another entry if we get another little dip in implied volatility and a potential down move in price where it looks like it might be a good potential entry. So we'll see. But nice trade there to start off the week. Let's go back to our order here. Next trade was an opening adjusting trade in FXI. So we added a butterfly in FXI in September. I already had one in August and we still have both of those on now here today. So if we take a look, here's our one in August and you can see we've got some profit there. I'd like to see a little bit more down move to try to try to book some more profit there. Then we've also got this September one from the alert where you can see still pretty centered. No profit or loss there. Just waiting for some more time to pass before anything happens there. Next trade was a closing adjusting trade in EWW. So we closed out one of our short strangles in EWW, booked over 50% of max profit on that piece of the trade. And then we were still holding our 48 straddle, which was actually an adjusted strangle. So I'll come back to that one because we had another trade alert in there. Next trade was an opening trade in ZN. So implied volatility popped up in the notes in the bonds. We always use TLT for our barometer there to check the IV levels. Popped up over 56 at the time. So we opted to trade ZN. As I mentioned here, you could have done short strangles or iron condors in ZN, ZB, which is the bond futures, or the ETF TLT. So I try to give different options for those trading IRAs. Or if you don't have permission to trade futures, sometimes I do forget to mention those. But in that case, we do have several options here. So if we take a look at ZN, you can see here still very centered. Got a little bit of profit there. Not enough to take off yet. If we take a look at the TLT ETF to get an idea of where implied volatility is. You can see since then it has contracted down to the 14th percentile in the IV rank of 11. So getting some contraction there, but just need a little bit more time to pass before we do anything on our ZN trade. I mentioned the Nvidia close. Next trade was a closing adjusting trade in corn. So we closed out our iron condor in corn September cycle, booked to over 50% of max profit on that piece of the trade. And then we're still holding a short put vertical in our August trades, but they are getting we're getting ready to expire. So I mentioned we'll be closing those today as well. And so you can see the very next trade is closing that put vertical booked that one. And we're able to see a nice profit overall on that trade. So how to make how to make several adjusting trades, but it paid off and we booked a nice winner there. And as always, you can see all the close trade results under the close trade tab right up here. There's alerts current portfolio and close trades right there is where you'll see everything. Next trade was a rolling adjusting trade in EWW. So here's the other piece of this. So we took that 48 straddle and we rolled it. We wanted to price me retire. So we wanted to roll the puts up. And we were also 23 days to expiration, which as we teach in our course, once we get under 21 days, we want to start looking to roll the next expiration cycle. This had 23 so a couple of days more, but we didn't want to roll our puts up and then roll out the entire spread again. That just cost us more in commissions. So we did it all in one swoop. So we rolled our puts up and rolled from August to set. So if we take a look at what that looks like now is go to our analyze tab here and you can see, you know, it's hanging out. It's still hanging out near the upper end of the range. What I didn't do in this case was add another centered strangle, which is what we like to do to collect more credit. But if you look at the implied volatility, it's fairly low. I mean, it's not out of the question of adding another piece as an adjustment. I wouldn't necessarily enter a brand new trade here. But even, you know, if I had percentiles over 25, I don't have an issue with adding pieces of that to adjust the trade, just not to enter a brand new one. And so we're just going to hold this for now. See what happens. Let's go back to that. And you know, could use a little bit of downside movement to benefit that piece. And if implied volatility kicks up, we may add to it. We'll see what happens. Next trade, a closing trade in XLU. So we had a short strangle on in XLU, booked over 35% of max profit. I didn't hold off for the full 50% of max because this was a what I call a tight strangle, meaning the strikes were only one point apart is almost a short straddle. So we want to manage our winners sooner. And so we booked a nice 35% profit there, which was a good trade. Next trade was a closing adjusting trade in ES. And so what we did is we we had a put vertical side and iron condor price of breacher upside. So we closed out the untested side still holding on to the call vertical side. Now, if we take a look at ES and what's going on there, here's the call vertical side that we still have on. So just looking for a little bit more downside to benefit this with the, you know, right now we're down 25 points. The market's got about 35, 34 minutes before it closes. Nice down day today. So that brought us back into range. If we continue to stay here or move lower, we will most likely close that one out on the on that trade. We've also got another piece, which is a full iron condor, which you can see is still nice and centered. Just waiting for some more time to pass there. And then in ES, we've also got a long put vertical, which is separate from our iron iron condor trade. But you can see we have this on just to add a little bit more short delta, some short bias in our portfolio. And you can see what this big move down came back into range today. So just looking for downside to benefit that piece. Next trade was a closing trade in J&J, Johnson & Johnson. So we had a, we put on a short put vertical last week, and we did that for a couple of reasons too. One, because J&J looked like it was ready for a little bit of a bounce higher. But B, to help balance our portfolio, we were getting a little bit too short bias. So we added in a bullish, a long, a long delta trade and worked out nicely booked over 60% in just seven days. So that was a nice, nice addition. Next trade was an opening adjusting trade in CL, which is the oil futures. So we added a short strangle here with the IV percentile at 51. And so if we take a look at where we're at on oil, we've got, this is the short strangle that we just added. So still very centered, nothing to do here. We did have another oil trade later in the week, which I'll get to, which was closing out the September position. So this is one that we added in October. And then as I'll show you here coming up, we had a September position that we went ahead and booked and closed out of. Next trade was a closing trade in Ford slash GC, which is the gold futures. We sent this out just eight days prior, booked over 35% of max in just eight days. So nice trade there. Implied volatility collapsed down to 26 after putting it on when it was above 50. And so now if we take a look at gold, by the way, this is another one that's on the futures. And so I did give an alternate trade that you could have traded in GLD as well, which is the gold ETF. But you can see we put this on when implied volatility was up here and it just collapsed over the next week, giving us the ability to book a nice quick winner there. So everything was doing real good for us this week. Two-sided action and different symbols. I mean, that's what we love to see implied volatility going up and then contracting. I mean, that's the name of the game. That's why we do what we do. Next trade was an opening trade in Facebook. So we don't do a lot of our core strategies, our iron condors, strangles, straddles, that kind of stuff. We don't do that a lot on individual stocks because we're much better off doing them on ETFs if there is high implied volatility. But we typically use stocks for a little bit more directional plays. But in this case, Facebook announced earnings and they completely missed. The stock was down nearly 20% at one point. If we take a look right here, it's back down there from its high here. So after they announced earnings, missed badly, down about 20%. And you can see after the announcement, typically implied volatility is going to get crushed. We look for that implied volatility collapse, that implied volatility crush, and it just stayed bid. It stayed high until the next day. So that next day, with the implied volatility high, we put on a short strangle. And what happened today is some of the premium just got sucked out real nicely. So that worked out well. We're still in the trade. But you can see after just one day, we're up $100, which on a $497 max profit, what is that? 20%. So 20% in one day. So I wouldn't even have issue if people wanted to just take this off after one day. I'm going to give it through the weekend and see what's going on early next week. We may take it off for a quick winner. Or if price makes a major move, we may just manage and hold it for a little bit longer, but we'll see what happens. Next trade was a rolling adjusting trade in DIA. So we rolled one of our short call verticals in DIA from August to September. I did mention we still have a lot of time in the August 21 days. However, this had moved quite a ways out of our range. And the probability of it getting back into our range was pretty low. So by rolling, we're putting the trade back on a positive theta position. So we're collecting that daily theta. Whereas as far out as it was of our range, it was actually negative theta. So just a good move all around. So let's go to DIA. We've got a couple of different pieces going on in there. So this is the one that we rolled out. This is the one in September, you see. And with the down move now, we're starting to get some profit back in that one. And then with this one, which is still in August, you can see it's out of our range a little bit, but still well within the probabilities of making it back in range. And these were originally from Iron Condors. And just holding onto these to keep that short delta, that short bias in our portfolio, for days like today when we see a lot of red. So that short delta definitely helped us out big time today. Next trade was a closing adjusting trade in CL and oil. So this is the one I mentioned. We had this adjusted strangle in oil. 20 days left to expiration. We went ahead, we needed to either roll or close that piece. And since we already have that strangle out in October, I thought it just made sense to close it. But I also mentioned rolling was definitely a viable option depending on your portfolio and what you had going on. So we had booked that one, but still have the October strangle on. And then lastly, we did a closing adjusting trade in IWM. So we had a couple of short call verticals that were previously part of Iron Condors here. With this big price move down today, we went ahead and just closed one of them out and booked a profit on that piece. Now we're basically back to break even almost overall on our IWM trade. So next week we will see what happens here. Obviously if it keeps moving down, we might close that one out as well or continue to roll it depending on where we are with our overall short delta. And then with implied volatility spiking today, assuming it stays high in the early next week, we may add another full Iron Condor centered around where price is currently to collect some more credit and just to keep the dream alive. So those are all the trade alerts. Let's take a look at some of the other positions. I mentioned oil, mentioned ES, mentioned notes, wheat. We've got two Iron Condors on here in wheat. One is in September and you can see price is just kind of hanging out up here. And then we've also got one in October where price is hanging out down here. So just looking for a little bit of pinball action in wheat to bounce around and benefit that. Had a huge move up there. Now it looks like it's starting to settle down a little bit. Apple, we've got a long put vertical on in Apple. They've got earnings coming up. We'll probably just continue to hold this trade through earnings depending on how much it changes between now and early next week. But they announced on 731. So if you're nervous about them having, if you have this trade on and you're nervous about them having big numbers and projections that exceed expectations and in other words that the stock will go up, you may want to close it out. We're probably going to hold because what we've got here is a long put vertical. So looking for some downside, we'd originally put this on to add short delta in our portfolio and we've rolled it for several months and we'll just continue to keep it on for now. You know, it fits good into our overall portfolio so no need to mess with it even though earnings are coming up. DIA, I mentioned that one. EWW, I mentioned that one. EWZ, we've got a short strangle on here. You can see prices just kind of hanging out here. Still well within our range, nothing to do but let some time pass in EWZ. We have gotten a little bit of implied volatility contraction but still at decent levels so we may look to add to that one next week if it continues higher, if it continues lower then we'll just kind of sit and sit on our hands. I mentioned Facebook, I mentioned FXI, I mentioned IWM. QQQ, we've got three different sets of short call verticals. Downside movement today definitely benefited these. This one's got a little ways to go to get back into range but we're just still holding that one. We might look to roll that next week because this is kind of similar to our DIA position where price had moved significantly out of our range. There's still a decent probability it could get back but if it moves much higher we'll probably roll this out to September so we get it in another positive theta position. Then we've got our other short call vertical. You can see this as well within our range making some money on this one. Just waiting for some more downside to benefit that if it comes and then same here, we've got another short call vertical which is well within our range making some money. Just continue to monitor and manage those next week and lastly XLK, so this is another one that we put on for some short bias in our account and you can see it's out of our range a little bit just looking for some downside to benefit that. Very similar situation to the Q's where on this one here where if it continues higher we're probably going to roll to get out of that negative theta situation, same situation here. This will just take a little bit of a down move in price and we'll be back in a positive theta situation we're right in between here. We'll just wait and see what happens. Those are all of our trades, all of our positions. The one thing is with this little grind higher until today implied volatility started getting low but after today's down move we're looking at some higher IV situations. Options prices are higher so we definitely have some capital to put to use and we want to do that next week. Any time we get a little spike, a one day down move I don't like to jump all in or start putting a ton of positions on. I'd love to see a continuation to the downside on Monday get those IV levels even higher and we'll start putting on some new positions because we are starting to get fewer positions than we've had in a while which is a good thing because that means we've been booking winners but at the same time we want to get that capital to use so we can continue to keep up our excellent performance. Hope that was helpful everybody. I will talk to you next week. Everybody have a great weekend.