 What's up navigation traders welcome to this week's video update today is Friday July 12th We are going to review all of the trade alerts and positions For the week. This is our exclusive recap for pro members Before we jump into the alerts, let's head over to the community and see who got caught being hot this week This week goes to our member that goes by the handle KK there was a couple members who use interactive brokers and I haven't used them for 10 plus years and so Fortunately the power of the community Stepped in and KK uses interactive brokers and was able to send some screenshots and give some direction on exactly how to execute orders Great job KK. Thanks for stepping in and helping out. You got caught being hot and Since you had a private message go ahead and grab some trade hacker swag Sport that everywhere you go Anyway, so let's jump into the oh one other thing before we jump into the alerts Wanted to introduce you to a new member of our team. Dr. Chad Searcy is coming on board with navigation trading. He's been a member here for a little while and loves trading Very clear the concepts. He will be in the community helping out his main role is his title is director of trader success so he's gonna be helping on board new members and so he's gonna be active in the community and And be available to to help out as well. So Super excited to have Chad on board and If you get a chance tell him congrats All right, let's jump into the alerts for the week starting with Monday the 8th Scroll down here quite a few more alerts than we had last week obviously last week was a short week, but First trade was an opening trade that we did in Walmart. This is a pre earnings long Strangle the reason we did a strangle instead of a straddle in this case is just because price was kind of between strikes So we just widen that out a little bit the concept is exactly the same we're looking for implied volatility to expand and Price to move and so that's what we're looking for. We've still got that trade on in Walmart You can see prices up a little bit today. We've got a tiny bit of profit here But we need a little bit of a continuation to the upside or a big move down to profit on this total capital use total max Max loss on this would be a thousand bucks So we are looking for about a twenty thirty percent profit So if we can get two or three hundred bucks on this Which would mean if you know price got out to about right here or down to about right here That's what we're looking for and we've got some time on this trade earnings is not out here until 815 so if we can get a decent price move either higher or drop lower That is what we're looking for and then of course have applied volatility continues to expand going into that earnings announcement That would help as well All right next trade it was an opening trade in SPX so we did we've released our newest strategy course the weekly income Iron condors and weekly income double calendars. And so we started Posting alerts on that this week starting out with an iron condor in SPX. So let's take a look at that one So if we go to our analyze tab here So in SPX This is what this looks like so you can see price has moved higher So we put this on when price was fairly centered it's moved all the way up here and so remember we close these out either if we hit a predetermined Theoretical stop loss which equals about half of our max profit. So our max profit on this is 1780 bucks So if we got to a point where we're down about 800 bucks 900 bucks That's when we're gonna look to close that out now. We're pretty pretty much break even on the trade right now The last trading day is Monday So if you are nervous about prices exploding higher over the weekend then you would want to you know You could potentially close this off Close this out for a kind of a scratch break even we are holding it and just hope you know hoping for just a little bit of a down move as we open on Monday And so we'll see if that happens obviously if price explodes higher We're gonna take a loss on this one if if the market drops between now and Monday We will make a nice profit So that's kind of the the risk that you're taking on this trade and so as long as you just understand that There's nothing magic about us knowing us holding on because we know the markets gonna go down That's certainly not the case But that's we're just playing the probabilities. We're being mechanical with these We're putting them on and we're either taking them off if we get to a point of a loss that that hits kind of our theoretical stop loss or We're taking them off one day before expiration now Monday is the last trading day So again, you could take it off today for a scratch or you could hold it until the morning Monday, which is what we're doing So that's where we're at on that and then what another alert that we actually just sent out this morning today on Friday Was a weekly income double calendar trade. Okay, so that looks like this here and And the reason we put that on today is is the market overall Yes, and peas up a little bit so implied volatility is contracting and so remember from the course If implied volatility is contracting That's when we'll put on a double calendar if it's expanding We want to try to take advantage of that and put on an iron condor to benefit from the contraction So we put that on this morning and so and we like to we like to kind of ladder into these and so you know when we Price was kind of hanging out just kind of on our iron condor around center kind of grinding higher So we didn't want to put on another one We don't want to stack them around the same price levels, but price was about 2980 when we first put this on now It's at about 3007, you know, so that's a decent amount and worth our break even on this trade And so we wanted to ladder another trade kind of centered around the current price And that's what we did with our double calendar now the day that we put on the iron condor on Monday Implied volatility the market was down so implied volatility is up So that's why we put on an iron condor today the markets up implied volatility is down So that's why we chose the double calendar all this is in that in that weekly income strategy course So if you have questions a lot more detailed explanation is there. So that's where we're at with spx All right next trade closing trade in oil for CL so we close out our oil trade Booked over 35% of max profit in just 11 days. So we are out of oil Or we were out of oil The next day price moved around a little bit So we put on another one centered around the current price and so let's take a look at our oil position now After we put it on price actually made a pretty massive move higher Well in one day it was up like 4% But you can see price is hanging out right here. So still well within range nothing to do but wait in oil Next position closing adjusting trade in Gc which is gold so we had an iron condor on in gold closed out of that booked over 35% of max profit on that piece of the trade now. We were still holding our short call vertical From a previous iron condor and we've still got that and so we've got that and then in a later alert I'll just kind of skip ahead a couple days later We put on another iron condor because implied volatility was nice and high ivy percentile at 93 So we just layered on another iron condor and so if we go to the charts take a look at gold You can see in this cycle which has toss displays it as the August cycle. It's got 13 days to expiration We've got this short call vertical spread on See prices out of our range here. So we're looking for a little bit of a down movement to get back into range hopefully next week and So that's what that's that piece and then we've got our other full iron condor Which is pretty centered pretty close to where we put it on here. No profit or loss So just playing the waiting game on that piece Next trade rolling adjusting trade in DIA. So we've got several positions that are still in July and So we're gonna need to either roll or close those next week is expiration week So we're getting down to crunch time where we need to do something with those and so we just took this short call vertical and DIA Rolled it from July, which had nine days to expiration at that time rolled it out to August and adjusted our strikes appropriately and then we're still holding our other full iron condor and so let's take a look at DIA So this is our short call vertical. You see prices out of our range So we need some movement back down into range But the but the alert that we just sent is this one which we rolled out to August So you can see prices actually moved higher since the roll But we are still within range on that one, but just kind of holding these for that short Delta exposure Speaking of short Delta exposure. We like to have kind of in that one-to-one to five-to-one of short Delta versus our theta we're right at about three-to-one on that ratio and And so could definitely use some down movement next week to help our overall portfolio And remember that we beta weight that Delta to SPY if you have if you're newer and you have questions about that There's a couple articles on the blog just search for Delta or one of the articles is called Trading options like a professional You can search those two and it gives a little bit more explanation about our overall Delta management scenario So that's DIA I mentioned that we are still holding our full iron condor We were at that time, but then on a later alert actually this next one We closed out that put vertical side because because price breached our break even there's very little value Just two cents left in that put vertical side. So we closed that out So now we're holding those two call verticals that I just showed you Let's see. Did I skip one here? No good, okay next trade was a Rolling adjusting trade in our friend Natty gas Natty gas worked well for us this week With the up movement that we've seen and so in this case we are down to Just 15 days to expiration. Remember when we get to under 21 days We want to go ahead and roll out in time when it comes to these undefined risk positions so that's what we did we just rolled this spread from August with 15 days out to September with 47 and then we adjusted our call strike from 245 to 255 and that just makes it a little bit less inverted And then we kept our put at the three strikes. So we've got two pieces to this Natty gas position And then and both of them are sharing the three put so this is the combined look at both of those They're very similar our calls are just you know point five off from each other But we do that just to keep them separate because we entered them as separate trades And so still in the same position. We could just we could use a little bit more upside movement from Natty gas and Take a look at the charts You know, we've had that huge down move now We're starting to see some of that upside which is helpful if we can get a little bit of a continuation to the upside that would be great and in that gas the If we look at the implied volatility, which we've got to use UNG for you can see the implied volatility Continues to stay nice and high in that gas. So keeping that short premium on is what we want Next trade was a closing adjusting trade in SPY So we had two sets of short call verticals on that were previously part of iron condors One of them had moved just, you know, well out of range. And so we went ahead and just close that one Just you know, we're can as the market goes higher. We're continuing to accumulate more and more short Delta so we didn't want to So we ended up just closing this one out just kind of lessen that that overall short bias And then we're still holding our other short call vertical in July, which we will roll next week So let's take a look at that one And I mean, you know, this mark has just been super strong if we take a look here at This one that's the one we closed out and then here's the one that we still have on you can see prices Just out of range if we could get a quick down movement back into range That would be helpful and then we'll roll that out to August. So that's the plan in SPY Next trade was a rolling adjusting trade in DE. So this is John Deere. So we just extended our duration We had a long put vertical in July with seven days And again, we're just we're just rolling these out from July to August And we don't want to do them all at one time But we have several that we need to do so we're just spreading out those rolls over time So did a couple today closed out our SPY rolled our DE and then we'll do a few more next week Kind of spread out over throughout next week as July expiration Week is next week. So that's that's the plan there. So in DE Let me go to that here. So you can see we just did that today and Come on toss update. There we go. So it's pretty close to right where we put it on prices right there And so just looking for some more downside to benefit that trade And lastly we closed out a winner in cat caterpillar We had a pre earnings long call in caterpillar and we booked over 40% profit in just a couple days on that one if we take a look at the chart of cat What we're looking at here is you know, we had this big push higher and then we had this little pullback here And so we were just looking for a potential Continuation to the upside which is exactly what we got. So we got in here and it went down a little bit again I think we got on this day went a little bit against us that day and then boom boom popped up higher and We were looking for that upside momentum going into the earnings announcement as well as an Expansion implied volatility it actually contracted today with the market and the stock moving higher But it moved enough to allow us to book a nice 40% profit So those are all the alerts. Let's take a look at some of our other positions Starting with ES. This is another one that we have in This is a long put vertical that we've got in July with just seven days to expire So we'll be addressing this one next week because this is an options on futures contract We are at no risk of assignment. So even though this one moved significantly against us You know, we we can hold this all the way up to until expiration day without any issue of assignment So because it's already at max loss on this piece of the trade There's no reason that we're not in a hurry to roll this We'll do this one probably last and look at this, you know later in the week next week Gold I mentioned that one And that gas I mentioned bonds. So we've got this short strangle inverted short strangle in bonds You can see price has made a nice down movement was just getting back into the center of our range This is inverted, you know, when we put this on Price continue to move higher And so we just continue to roll our puts up roll our puts up until it was actually past the call And so we've got a 154 put up here and the call down here Meaning that's inverted because the puts are higher than the calls And that's okay, you know, I mean obviously we're down on the trade anytime you have to go inverted that typically means you're losing on that trade But you're just continuing to roll that roll up the untested side or roll down the untested side collect those credits And then what we'll do as we get closer to expiration You can see we've got 42 days in this trade So we've got a ton of time But as this profit line grows and you know if we can if price can stay within our range Then we'll look to either close this out or potentially roll out to the next cycle If we look at implied volatility on TLT, you can see IVs staying nice and high at around the 65 on the IB percentile So just continuing to manage that and play the waiting game on the bonds. The reason we don't use obviously the implied volatility indicator is not accurate or Isn't available on the futures. So that's why I was looking at TLT the corresponding ETF for that contract Wheat we've got two different positions on two different pieces of the position on in wheat We've got this iron condor prices hanging out right here It got all the way down to our break even there's still a decent amount of premium left on the untested side on the call vertical side Which is why we hadn't adjusted or closed it out and now prices come all the way back in So just playing the waiting game there. Then we've got another iron condor Right here where you can see price is Well within range on that one as well. So hanging out right here So just playing the waiting game in wheat if we can just continue to get a little bit of a ping pong action in price Potentially book profits on both of those that would be the ultimate plan Next position Apple so we've got this long put vertical that we've been holding for short Delta Again with the strong movement in price price has moved up So we'll look to roll this one or close it next week depending on where we're at with everything. I mentioned DE I mentioned DIA FXI So this one is we just need a little bit of movement to get back into range there I mentioned last on last week's video I mean even with all this trade war talk between the US and China This is the Chinese large cap ETF and implied volatility the percentile on rank are basically zero meaning absolutely no fear in China so interesting that implied volatility is not higher there But that is where we're at so if we get a little bit more downside We'll close this one out in FXI or we might potentially roll depending on where we're at in our overall portfolio Delta at that time GS another short position that we've got on we have on now this one is we've got earnings on 716 before the market so basically on Monday We will potentially do something with this one. You can see prices well out of our range So if we can get We'll probably hold this through earnings, which is so Tuesday morning Obviously if we get a big move down that would be a great benefit to us If not, we'll probably just roll it out or close it After the earnings announcement, so we're holding this through earnings If you are not comfortable with that then you can always close it out, but that's the plan for us Intel we've got this inverted short strangle in Intel that we that we had to adjust and manage So just continuing to play the waiting game on this Intel has earnings Coming up as well not for a couple weeks though So we've got some time if if we're able to get out for a profit before earnings we'll do that if not we may hold that through earnings as well and IWM we've got this iron condor now It was actually when price was a little bit lower this week I was trying to get filled I had an arresting order never got hit So price moved up a little bit and so we're just gonna hold this into next week And if we get a little bit of a move higher we can book that piece and if implied volatility pops up We may add to this we're still we're down overall on our IWM trade With it with all adjustments and everything, but we may you know, so we'll see what happens next week We may look to You know, I don't necessarily want to add to this with with implied volatility this low But if we get a quick shot down and applied volatility spikes up for some reason Then we potentially would look to add to this one But more than likely just close it IYR we've got This is a theoretical position. This is our actual position See price is hanging out in the upper end of the range So as I was looking to potentially add one here just to center a new piece around the current price But I didn't just because implied volatility is a little bit lower now It's it's decent, but it's not over that 50 mark that we like to see to sell premium But if we get a little bit of a pop higher Next week, even if it's not quite up to that 50 level because implied volatility is fairly low across the board So we got to start You know what we want to stay active we want to have positions on and even if implied volatility is a little bit lower than that 50 mark we might potentially look to add to that, but we will see QQQ we've got two sets of short call verticals in QQQ. You can see this is the combined This is both of them together very similar prices hanging out right here at the break-even Just need a little bit of downside movement to get back into range there SMH we've got two pieces on here. We've got this Adjusted strangle where price is hanging out right here. So it could use a little bit of down movement to benefit that and Then in addition to that we've got this other strangle has not been adjusted Price is hanging out right here. So just waiting playing the waiting game and that one Obviously could use a little bit of down movement to get back to center on that as well. I Mentioned SPX. I mentioned SPY mentioned Walmart. Lastly our other last short position is XLK again Kind of blew out to the upside there So we've been holding this for that short delta exposure and we'll probably continue to do that And and so we'll look to probably roll that one next week So that's where we are with all the positions Looking into next week. I mean like I said implied volatility is pretty sparse and So just kind of picking our spots You know, here's SPY implied volatility is super low And so we're gonna have to start putting some on some positions We'll do one of two things a will add to positions even if they don't or we'll put on positions even if they're not quite at the 50 level based on IV rank and IV percentile To just to stay active selling premium The other thing we'll look to do is potentially add some more directional trades So add some long bias trades and I add some short bias trades that are not really implied volatility sensitive and And then just in kind of play both sides of those But that's that's kind of the plan if implied volatility stays low So that's it my friends. Everybody have a great weekend Hopefully we get a little bit of down movement next week Which would help both our current positions as well as it would help implied volatility spike So we could add some new positions. So that's the plan. Everybody have a great weekend. Talk to you next week