 Welcome back. In this video, I want to talk about how to trade strangles in your IRA. So remember, technically you can't sell a strangle in your IRA because short naked calls are prohibited. So how can I trade a strangle in my IRA? I'm going to show you how to create a lookalike strangle that will make the trade IRA eligible. Let's go to the platform and take a look. So on the screen, I've got a sample strangle on SPX and I've got my breakeven set. This is your typical one standard deviation strangle like we've been teaching in the course. And so if you try to place this trade, if you hit confirm and send, try to place this trade in an IRA, it's going to get rejected because you cannot sell a naked call in your IRA. So here's what you have to do. Go to the trade tab and let's start on the call side. And really what we're looking to do is to buy a cheap out of the money call and a cheap out of the money put to give us that eligibility that we're looking for in the IRA. So when I say cheap, anywhere from one to five delta options on both the put and the call side is what we're looking for. Obviously the higher the delta, it's going to be a little bit more expensive. So let's just find a cheap one that still has some good liquidity. And you know, let's look at the two delta. We can buy this one for about a dollar. So let's buy that, right click, analyze. And then let's go back to the trade tab, go over the call side and do the same thing. So look for something in that kind of one to five delta. Remember, puts are going to be more expensive than calls. So we might have to pay, let's say $2 for our cheap put. So let's buy the cheap put, right click, analyze. Okay, so here's what we've done. So if we squeeze the graph together, essentially what we've done is we've bought a cheap out of the money call. We've bought a cheap out of the money put to define that risk to make this trade IRA eligible. So let's click off here real quick and take a look. So remember on the original strangle, we're selling that for $18, getting a credit of $18 or in other words, another way of saying that is our max profit on the trade is $1,800. So when you're buying a cheap out of the money put in a cheap out of the money call for $1 or $2, simply you're subtracting $3 from that $18 credit. So if we click back on there, you can see our max profit went from $1,800 to $1,500. So you are giving up a little bit to put on this trade, but now we're able to make the trade in an IRA and it's still a good trade. Our probabilities are almost still the same. As you can see, the break evens move in slightly when you buy those out of the money options from the from the dotted line into the red hash. So the probabilities haven't changed much. But like I said, it reduces your buying power a little bit and makes the trade IRA eligible. So I hope that was helpful. If you'd like to learn more about the different strategies that we use to make consistent returns, come see us at NavigationTrading.com. We've got a ton of free resources, including the navigation watch list, which is a list of the most profitable symbols to trade for each type of strategy. We've got the volatility indicator, which you've seen on my charts. You can download this directly to your thinkorswim trading platform. And we've got a free options course called Trading Options for Income, which is a step-by-step guide to get you making consistent trades right away. We look forward to seeing you there.