 Happy Monday trade hackers. Today is Monday March 2nd. Welcome to today's update Taking a look at the markets on a Monday. We are up pretty sizable couple percent in most the indices We've still got about an hour to go in the cash market S&Ps are currently up about 60 Dow up 675 Kind of the lager of the indices is the Russell. It is it's not even up one percent So about less than half as much as the others And so taking a look at the S&P obviously last week was the quickest 10 percent 12 percent drop in the market that we've ever seen in the history of the markets and so very very volatile move and then on Friday We got a bounce and the actual S&P closed down a little bit on the day But then after the cash market closed the futures continued to rally Pretty significantly and then the market opened down and we've continued to rally all day to day So very volatile. I mentioned this before when you see you know volatile periods like this where you've seen huge downsides It's not out of the question to have these huge rip ups as well like we're seeing today. So What are we looking at going for do? I think this Downside is over, you know, we bottomed out at this point at 2853 Do I think we bounce from here and go to new highs? No, I do not I think we you know get some sideways consolidation action or we just roll over and hit some new lows So I don't think this downside is over obviously could be wrong That's just my opinion what I'm seeing just from kind of tape action price action and just my own thoughts personally so take them for what that's worth But we are positioning for exactly that so we added a little bit more short delta today And we will continue to do that if we get a little bit more of a bounce higher And we also added what we call some reverse iron ducks in a couple of stocks So if you look at Roku for example This is one of the stocks we traded today and these two stocks Roku and Shopify We put trades on and these stocks tend to have a little bit of a reverse skew meaning the calls sometimes trade richer than the puts and so what that allows us to do is put on these Reverse ducks and so what you'll see here is I've marked the line here That's kind of our break even points we have all the way up there To about right here where we can hit a max profit if we do get a bounce and then the cool thing about these is we have No risk to the downside. So if this turns over and just dies We will still book a profit and then but like I said the max profit is in this kind of area right here So that's Roku the other one Shopify sh o P kind of the same story So we've got a max profit area right up here and then if this thing rolls over and dies we still make some money So I think those are good positions to have we were waiting for a bounce like this to jump into a couple of those And so that's what we did today Also mentioned add a little bit of short delta in an index to help with some potential further downside Some of the other big movers today. I mean if you look at oil oil is up over four and a half percent Big move higher that's helping a position of ours the other energy net gas up over four percent as well Which is also helping us out So some big moves today if we look at some of the stocks Apple up over six percent big bounce higher in Apple We take a look at some of these others just some big movers today Costco up over seven percent Big bounce and it's got earnings coming up on the fifth So later this week a couple others Tesla's moving higher Gild's been just a crazy back-and-forth action. It's a biotech It's involved in some of the trials for the coronavirus so very volatile there Let's see what else here said Tesla up over eight percent So it didn't get hit near as hard as the rest of the market and it's making a little bit of a bounce there Twitter up almost seven percent and Walmart making a big move up over five and a half percent. So some big moves today Then you got others like square still down uber down four percent win some of these casino stocks still getting hit if we look at some airlines like UAL which is United Airlines a big part of their business is International flights. They are still getting hit today. So some things still going down But broad market bouncing pretty good and really I again I look at this as really a selling opportunity Looking at strategies to you know, you don't want to get just get short But looking at strategies like we talked about like the reverse iron duck and some of these others to give us some Potential to the downside, but still some a little bit of a protection to the upside. So we'll stay mechanical We're gonna keep our position size small, which is what you always need to do and Hopefully this was helpful. Everybody have a great evening and we'll talk to you tomorrow