 What's up navigation traders? I hope you like these videos. If you do make sure you hit subscribe and we will make sure to keep On creating them for you in this video. I want to go over a rolling adjusting trade in this case of EWW the Mexican ETF so we've got a trade on here where you can see price is very centered This is an adjusted strangle so with the huge move down that we had we had to adjust this now prices come back And it's right in our range, but we're still not to profitability after the adjustments and rolls So how do you know when to take this off for a profit? Well if we take a look in the members area You can see the EWW short strangle. We first put this on at an 89 cent credit We did an adjustment roll collected another dollar 26 So if we bring up our handy dandy calculator here you take point eight nine plus the dollar 26 We got to roll it that equals 215 so our total credit on this trade are two dollars and 15 cents So if you go back to the platform and we go to close this trade what you'll see is that we can close it for 272 we would take a loss if we close the trade right now So if implied volatility was really low and we did not want to be in this trade anymore That we would just close it out and potentially take that loss You know we've made back a lot of the money from what was originally a losing trader pretty much right out of the Gate when we had that huge move, but it's come back time has passed We've gained back almost all of that money, but look at where implied volatility is IV percentiles at 93 I have your rank at 55 so if I didn't have a position on at all I would want to put on a new position at EWW right now So that's kind of the thought process we go through when we're deciding to close or roll the trade and in this case We're definitely going to roll it so because it's so centered we can keep the exact same strikes So this is a little bit inverted so the put is higher than the call And so we want to just keep the same strikes roll that out to the next expiration cycle And the reason we would roll right now is as you can see we've got under 21 days to expiration in March So once we start getting under that three weeks to expiration That's when the gamma or the risk the directional risk really starts to accelerate So with these uncovered or naked positions like strangles and straddles once we get under that 21 days to help Reduce our risk and improve profits over time We like to roll that to the next expiration cycle in this case It would be April with 53 days to expiration right in our wheelhouse of that 30 to 60 days So that's what we will do So we just highlight the position and hit create rolling order click that option here and then what that'll populate So this is the one we're buying back This is our current position and then we are selling now in thinkorswim it automatically defaults to the next Expiration cycle well, that's a weekly one So we want to make sure we're going out to the next monthly cycle Which in this case is April 20th and by doing that look at this We're collecting a nice big credit So another big credit to add on to the credits that we've already received So as more time passes assuming price doesn't make a major move and it kind of stays in our range Then we'll be able to book this trade for a profit. So that's the name of the game Extending duration giving yourself more time collecting more credit And that's how you become profitable on a trade that initially moves against you So if we just kick this down a couple pennies see if we can get filled right here Hit confirm and send and we got filled at a buck 28. So now we're out of the trade And that's how you roll a inverted strangle. Hope that was helpful. See you next time If you'd like to learn more about how we've taught over 10,000 members how to trade options for consistent income Just go to our site navigation trading comm click on the big orange button And we'll give you immediate access to our flagship course trading options for income We'll also give you the navigation trading implied volatility indicator that you see on our charts Along with the watch list that we use to trade the most profitable symbols day in and day out All this is yours. No cost. Just go to our site navigation trading comm and we look forward to seeing you on the inside