 What's up my fellow trade hackers today is Thursday January 2nd. Happy New Year It's good to have the markets back open can't wait for next week where we get an actual full week of trading But what's going on today looking at the SPX? Taking off right where it left off last year with an update up about 12 points At this point of this recording. There's still about a couple hours left in the cash markets here on Thursday But just continuing that march higher. What did we do today a couple things? We closed out a Tesla Iron duck booked a beak profit. We've also got iron ducks in Google and Amazon that are expiring tomorrow So if we can't get out of these with more than the beak profit for Google for example, it's way up the beak So we may just let that expire collect that beak profit same with Amazon This is a reverse iron duck just collecting that beak profit. So small profits more beaks bringing in the new year What else so the other thing I wanted to mention just about the overall market is Interestingly enough We've got actually a mixed market the S&P was up over 20 points earlier this morning And the Russell is pretty flat now the Russell is down three-quarters of a percent Minus 0.76 percent at this point in the rut where the S&P is up So kind of an interesting little mixed bag The other thing is we put on a weekly double calendar in rut now the rut is down But what's interesting almost a percent But what's interesting with the with a lot of the other market the NASDAQ and the S&P being up is implied volatility in the rut contracted So normally if you get you know nearly a percent decline in an index like this You're gonna see a spike a little bit of a pop higher in In implied volatility, but not the case today with the rut being down implied volatility is still contracting And then if you look at obviously like I said the S&P up 12 points and the VIX is Down over almost seven and a half percent So another interesting move in relation to the index versus the volatility and of course This is a holiday week of trading. So you got to take kind of what happens with a grain of salt That's not always typical as what would happen in a normal trading session just because the volume is lower There's a lot of traders still out not a lot of activity. So take it with a grain of salt But just interesting Observation remember we are we were talking about last week how the VIX and its relationship to SPX You know if the S&P is up a percent then the VIX typically is gonna be down You know six to nine percent in this case the S&P is only up a little over a quarter percent yet The VIX is just contracting like crazy. So a lot of premium getting sucked out of these short volatility plays So be interested to see what happens when we regain a full market a full trading week next week That's all I got for you today We will send out the weekly portfolio update to pro members tomorrow and then I'll catch all you trade hackers next week Have a good one