 Welcome to this week's video update. Let's jump in and go through the trades that we made for the week. Today is Friday, January 6th. We started off on Tuesday because remember the market was closed on Wednesday. So the first trade we sent out was on oil and it was a rolling adjusting trade. So I sent it out in two separate alerts. First was the put side where we rolled the puts up from 52 to 53 and a half. And so we bought those back for 34 cents, laid them back out for $1.23, collect more credit, give ourselves more time to be right on the trade. And then on the tested side, which was the call side, we don't move that strike. So we rolled the 48 and a half to the 48 and a half. We just simply rolled it from February to March. So if we take a look at oil, this is our current position. As you can see, it's an inverted strangle that we've rolled. Oil has had just a pretty significant one directional move for the most part. So we've had to adjust that position twice and now roll it to the next expiration cycle. But since we've rolled it, we're already up about $870 on that. We're still down a little bit on the trade, another $100, $150. So if we get a little bit of a move down, we'll take that one off for a nice profit. That's the oil and then the next one was in natural gas. So this was a strangle that we had on. We closed that for a nice profit. We're still holding both another natural gas strangle and a natural gas iron condor, which we just put on. I'll get to that here in a minute. GDX, so this is a strangle that we opened. So it was an opening trade in GDX. So if we take a look at GDX. Didn't much here, just still very centered, hasn't moved much. So implied volatility actually contracted a little bit today. But we'll wait and see if we can get some more contraction in GDX later next week. In the cues, we had on a calendar spread and we took that off for a nice profit. We take off those calendar spreads for about 15, 20, sometimes 25% of max profit. So that was a nice trade. If we take a look at the cues, as you can see, we put it on down here when implied volatility was very low, which is what we want to do on calendars. We had a nice spike in volatility and then price moved right back up into our centered range. We took that off for a nice profit. So if we go to next trade was an adjusting trade in XLU. So this is one where we rolled our puts up and then we rolled from January to February. So if we take a look at XLU, the position that we currently have on, we've seen we've got a nice contraction in volatility, which we wanted, but price hasn't moved back down into our range. It's kind of hovering near our upside break even. So right up here, if we can just get a little bit of a down move, we're about break even on the trade right now. But we'll take a look and either roll up our puts if it continues to move higher or if it moves down a little bit, we'll take that off for a quick nice profit. XLF, same thing. So we rolled this from January to February. Again that gives us more credit, gives us more time to be right. There's only 14 days left in January. So anytime we start getting to that under 15 days, I'm ready to roll. I don't like to stay in the trades when they get that close to expiration because the gamma really starts to accelerate at that point, meaning the risk really starts to accelerate and the risk is not worth the reward. So we want to roll those to the next expiration cycle. So if we take a look at XLF, we've got a couple positions on here. So we've got the one that we rolled here. And so you can see that we've got a pretty nice range to the downside here in conjunction with that. And a position that we've had on for a couple weeks now too is the 24 straddle. So I'll manage these as two separate trades, but I also look at them as one. So if you take a look at this, you can see we've got a nice wide break even, nice wide range for this to move around in and hopefully if we kind of stay there and get a little bit more contraction in IV next week, we'll take that off for a nice profit. Next trade was in FXY. So we closed this straddle. If we take a look at FXY, it still has some decent implied volatility, got a little bit of a contraction today. It's still pretty centered and actually we're talking about the closed one. So we closed that one out. That was about a break even trade, but we added this additional strangle last week as well, which we're pretty close to taking that off if we can get another $50 to $100. We'll take that one off for a nice profit as well. Iron condor in the bonds. So let's take a look at bonds. We've got this iron condor in bonds and first let me unclick that. That's part of a money flow directional trade. So we don't want to show that as part of this. So here's our iron condor, still very centered, nothing to do here except for weight. If you take a look at TLT, which is the bond ETF, so we've got an iron condor in bond futures and the bond ETF, just looking for different vehicles, it just kind of depends on the amount of credit we're receiving. So I'd just like to look at both and the IV is measured on TLT, which still continues to be above 50, making it a good trading vehicle. So there's a lot of things with low IV. So when that's the case, you want to just go to the symbols that have the highest IV and sometimes as you'll see, we'll have to be trading things that are under 50, but that's just the way it goes to stay engaged and to stay invested and continue taking profits. We will continue to make trades in the highest possible IV symbols. Next trade was XRT. This was a closing trade, took this strangle off for a nice profit in just 11 days. Remember if we get a profit of 30% of max profit in a short period of time like that in under 15 days, we'll take that and redeploy that capital. So if we take a look at XRT, as you can see, it was kind of in this little dip here. I mean just a small contraction in implied volatility, but the premium got sucked out of that trade really well, giving us a chance to take a profit in XRT. GLD, so we closed the put side of our GLD iron condor. We're still holding the call side. If you take a look at GLD, look how low the implied volatility has gotten. It's down in the five range. So a lot of times what I'll do on these is I will put on another centered iron condor to collect more credit, but I'm not going to do it when implied volatility is as low as it is. If it would get up to even 20 or 30 or higher, I'd look to add another iron condor to as an adjustment to this position, but right now I'm just going to wait and see if we can get it down, move in gold, take that off for profit, or just continue to wait to see what happens. If implied volatility spikes, we'll definitely be looking to add more of an adjusting position to the GLD. XRT, I already mentioned that, that we took that off, and then we've got another strangle on, and that's pretty centered. We're in the profit, but not enough to take it off yet, so we'll continue to wait there. And then today, on Friday the 6th, we sold an iron condor in natural gas. So here's our strangle that we had on, we already went over, and then we also added this iron condor. So let me uncheck those so we can get that right. So that was the 3.2 and the 4.6 was our strangle. Remember what you did here. Now the market's closed, so you're going to see it looks like we have a $219 profit, that's not the case, we just put this on, so we're right at break even still. So nothing to do here, but wait, and see that it just moved down again. You can't pay attention to some of these while the market's closed because they'll kind of jump around a little bit. So once the market opens it reprises itself, and it's correct, but you gotta be careful of looking at those when the market is closed. And then we've got the last trade that we did was an adjusting and closing trade in our SPX calendar. So SPX continues to move higher, if we take a look at the chart first. We put our first calendar on right here on 12.6, so look what happened right after we put it on, we had a huge move to the upside. And so a few days later we had to add another calendar as an adjustment. Moved sideways, nice force for a while, we got a nice move down, and a nice pop and implied volatility, but that wasn't enough. We didn't have enough profit to take it off, and now it's taken off again on us, so we just continue to adjust that. We're down just a little bit on the trade with the adjustment we took off. We're showing a profit here of $169, but you got to take into account the one that we took off for a little bit of a loss, too. So we're down about $100 on this trade. So we'll just sit here and wait. Hopefully we can stay in this range, get a little pop in IV, get our profit line up, take that off for a break even to a small winner. After you adjust a couple times, really then you're just playing defense mode, trying to get out for a scratch or maybe a small winner. If you can scratch your trades that go against you and then you can take profits on your winners, that's the game. That's what you're trying to do. So I hope this was helpful. If you have any questions, one thing we do have here is you can see there's these little voice bubble boxes. If you click on those, you can actually ask questions or type comments right there. And I'll get alerted that there's a comment, so I'll get back to you and try to answer those as quickly as possible. Other members can also jump on there and post comments and questions to help each other out if I can't get to you soon enough. So hope that was helpful. We'll see you next week for some more trades. See you then.