 Hey, everyone. Welcome to this week's video update for pro members. Today is Friday, April 2nd. Happy Good Friday. So Thursday yesterday was the last trading day for the week. And we are into April. So taking a look at the markets, specifically the SPX to begin with, you can see that ever since the election, I mean, this thing has just been in an absolute march higher. And really, we've been talking about that since the election, since we had that initial push. Now we had that news about the vaccines that pushed it up even more. The indication was that this thing was going to continue to push higher. And now the S&P, with a big update on Thursday, heading into the long weekend, SPX up over 4,000, 4,020. All-time highs in the face of everything going on, economic, political, and otherwise, stocks don't care. They just continue to rip higher. There's so much money in the system. And I still continue to see that for the near future. If this thing does continue to push, and we have kind of a blow-off type looking top where this thing just really extends, we will definitely be adding some short delta. But at this point, we are staying relatively delta neutral with a small amount of short delta, which has certainly helped us through this big push higher. And we've continued to add in some long-call diagonals and some other positions that have helped as well. So that's the SPX. NASDAQ has not fared so well. Looking at NDX, it's certainly not up at its all-time highs. But it could be there in two days as well. I mean, a couple big pushes higher, and the NASDAQ could be there too. It had a lot more weakness on this downturn a few weeks ago. It's been consolidating, and now it looks like it's breaking out of this consolidation area. So we'll see if that will continue. And the NASDAQ can get up to new all-time highs. Tech got hit the hardest. The Russell as well, not quite as strong. Russell had some decent downside. In fact, we got smoked out of a couple of iron ducks in this big move down. And now it's starting to rebound. So it's kind of breaking out of this little consolidation area as well. So we'll see if the Russell can push back up to new all-time highs as well. The Dow's right there. I mean, it's getting ready to push into new all-time highs. It should probably do that on Monday, I would guess. But we'll see. So markets continue to be strong. Taking a look at the 10-year yield, TNX, the 10-year treasuries. So they've actually kind of pulled back last week and popped back up. And so just kind of consolidating at this point. Remember, interest rates have an inverse correlation to bonds. So if interest rates are going up, that means bonds are going down. And so if you look at something like ZB, we have a short premium position in ZB. And so you can see the bonds have just been continuing to go down along with the 10-year notes as well, ZN, pretty similar price pattern. So we'll see what happens there. If interest rates continue to push higher, then we'll continue to see downside in bonds. If you look at oil, we had a position in oil. We actually took off today. Had a little drop. And then it really just chopped around, which was nice. Gave us a nice implied volatility contraction today. You can't see it on here because this indicator doesn't really work on the futures contracts. But if you look at the corresponding ETF, USO, for example, you can see we got a nice contraction. I mean, implied volatility just got annihilated today. And you'll see that happen sometimes going into a long weekend, whether that is a extended weekend into Monday or a extended weekend with Friday being off at the market closed that day before. A lot of times you'll see just that premium that implied volatility just gets sucked out of the marketplace. And we certainly saw that today. I talked about it in the live stream room that we just took some trades early in the day because I saw the market either grinding sideways or grinding higher. And implied volatility just getting absolutely sucked out. You can see the VIX was down 10% on the day. VIX futures down 5 and 1 half percent just on Friday. So continuing to see volatility get to low levels that we haven't seen in a while. If you look at the spot VIX, you can see if we scale this out a little bit. I mean, we're at the lowest point that we've been in the VIX since before the pandemic. So that's how low the VIX is. You draw this kind of line right here. I mean, we were down in the back in 2016, the VIX got down to under nine, but kind of having that average right in that kind of 12-ish or 15-ish area. We've had a much higher average up around 25, 30-ish area recently, but now we're down to under 20. We're at 17 on the spot VIX. So continuing to see no fear, no fear in the marketplace. So now a couple of things, does that mean we go out and buy volatility? No, it does not. I mean, volatility can stay low for a long time. In fact, volatility contracts about 2 thirds of the time and only expands about 1 third of the time. So don't go crazy buying VIX futures or trying to buy VIX options or anything like that. I mean, if we look across the board at the implied volatility, we use the IV% and IV rank. I mean, both of those are at zero, but that can stay at zero for an extended period of time. So while volatility is mean reverting, remember the percentile and the IV rank, they measure implied volatility versus itself, in this case the SPX, over the past year. So that doesn't mean that this can't stay at zero and implied volatility can continue to contract. We also have the 21-day indicator on here. So where implied volatility has been over the last 21 days. So if we see some spikes in the short term indicator, we can also look at that as a potential premium selling opportunity. We're not going to be selling strangles or necessarily even iron condors, but being net sellers of options when we do get spikes. But this is also a good environment, potentially, to be doing some of the double diagonals, red strategies, weekly double calendars. You're getting those at a cheaper price. And if you do get just little blips, little pops in implied volatility, those can expand pretty quickly. And you can benefit from those. So we'll continue to do that. We'll still continue to put on iron ducts. Iron ducts are a valid strategy in any implied volatility environment. The weekly double calendars, double diagonals, and things like that will continue to do. And we will continue to add different directional plays using verticals and diagonals to make directional plays in specific stocks, maybe some indices. But we like to do those directional plays in stocks as we see fit as well. And we'll go through some of those. So with that, let's jump in to the alert. Actually, day trading update. I don't have my sheet up. On the day trading front, we had a red week. Actually, let me bring this up because I want to point it out. Had two blunders in Tesla and Amazon specifically do 100% to my decision-making process on these trades. And it cost us. It turned what should have been a green week into a red week. So let me just bring this over real quick and bring up the year-to-date summary. So on the mighty 90s, had a small red week of minus 535 on the pairs trades, plus 214.50 on the runners, minus 3,000. So minus 3,300 for the week. Now, put that in perspective, we've had 1, 2, 3, 4, 5, 6, 7, 8, 9 green weeks in a row. So you're going to have times when you have red, but it's just unfortunate. It came at the cost of me personally making bad decisions, letting a couple losers just get out of control that cost us a red week. So year-to-date still in good shape, mighty 90s up 1860, pairs trades up over 2,200, runners up over 14,000, up over 18,000 for the year-to-date, and then total summary going back to August, mighty 90s, pairs trades, runners up over 42. So total of 54,000 in profits since then. But now we've got to work our way back over the next week or so, hopefully, to get back up into a new equity high P&L. So there's your day trading recap. I post more detail on that in the Profits Channel in Discord if you want to check that out. And so with that, let's jump into the alerts and bring those up. So first day, Monday, March 29th, we did a closing trade in FedEx. So after FedEx announced earnings, it opened up above the expected move. If we put on a post earnings short put vertical, just like we teach in our earnings course, FedEx took a little heat on this one, but ended up bouncing right back, booked over 50% of max profit. Let's take a look at a chart of FedEx. I'll show you what we're talking about here. So in FDX, here's earnings. Come on, Toss. Update for us. All right, so here's where earnings were, and then here is the expected move after earnings. You can see price opened up here. Started to come down a little bit. That's when we got long using that short put vertical. The next couple of three days took some heat. It came right back down. I didn't get out early because it was still holding pretty well above the pre-earnings price, which is actually right here. And so it came down and kind of tested that, tested it right here. And at this point, we actually added a long call diagonal is holding that level. A lot of times after earnings, price will come down and touch the expected move, or it might come down and touch the pre-earnings prices, whether that's the top or the close. And it did both. And so it looked like it was holding well and then just fired back up. So we were able to book a nice profit in FDX. SPY, closing, adjusting trade. So we did a vertigo. So in this one, just within a couple of days, we got a nice spike in implied volatility. And so we closed out half of our contracts of this. We had 12 to start. So we just closed out six and booked a really nice profit. And then we held the other six. I'll get to that when we get to our, when we closed out the total trade. Next alert, SPX opening trade. This was an iron duck that we put this one on with 16 DTE. So let's take a look at SPX. And I'll show you what we've got there. So here it is. With the big move up on Friday, prices moved up, we're almost at max profit on our beak. Well, it's about 120, we're at about $95. So we're not ready to take this off. As we teach in the course, what I like to do is look at the expected move of price to get back into our duckhead area. And we still got a 22% chance. If that gets under 15, 10 to 15%. So if price stays here or keeps moving higher as we get closer to expiration, we'll just close this out early, book that beak profit and take the money and run. But we'll give it a chance. I mean, if we do get a decent downside in the market, still have a 22% chance to get back into that max profit area. While we're here, this was an alert that we did on Thursday here. And this is a weekly double calendar. This started off pretty Delta neutral, but even after I put this on, price moved up that much. I was looking at putting on another one, but I thought, you know what, let's just wait till Monday. This is still well within range, but on Monday if price is hanging out here or really anywhere this way, we'll probably add another one and within the same expiration cycle and just continue to layer those on. I mentioned because of how low implied volatility is, I mean, look at this, $675 was the cost to put this on. A lot of times we're paying $7, $800 to put these on. So with implied volatility cheap, these calendars get even cheaper. Now that creates a situation where typically our profits are less as well, but I don't mind putting a couple of these on, layering in two, three, four of these in a week if we get the opportunity. So we'll see what happens. Obviously if we open up on Monday and the markets drop, we'll be right back to center plus our profit tent should increase with that implied volatility spike. So we'll see what happens, but that's the plan in SPX. FDX, so here's a closing adjusting trade. So this was that long call diagonal that we added that I mentioned. So we closed out half of this. We were over 80% profit on this piece. So we closed out half and just held the remaining piece to see if we get some even higher prices. And then the next alert, RUT did a closing trade. So this one price ran higher after we put this on. So we just closed that out early for beak profit. Still have one on with eight DTE. So let's check out RUT. Obviously markets closed, so don't pay attention to this wild and crazy P&L line. We are not up $2,000 on this trade. It's just hanging out here right in the beak where we have a beak profit of $165. So again, we've got about over 20% probability. We could still get back to the max profit area, but if this thing runs higher into next week, we'll just close it out, book that beak profit, redeploy that capital into some more high probability trades. Opening in BABA. So we did a, here's what I got directional. I put on a couple of diagonals. I went long Starbucks and short BABA. So let's take a look at both of these together and I'll show you what we are, what the thinking is behind this. So on BABA, BABA has been extremely weak. So when we're doing these directional plays, we like to get short the weaker stocks and be long the stronger stocks. Now, obviously that can reverse at any time, but we tend to, so if we see in BABA in this case, we've just seen continued weakness, little bounce, continued weakness, little bounce, continued weakness, little bounce. And so that's why we're getting short here, looking for a continuation lower. We already started to get that a little bit, even in the face of the market, the S&Ps being up an extreme amount, the SPX was up 1%, BABA was down 1%. So that worked well, right? Even with the market up, if the stock is down and you're short, that's the kind of stock you wanna be in because what you might see, a lot of times you'll see is, let's say Monday the market opens down, well, the weak stocks are gonna be the weakest. And so if we see BABA get even weaker than the market, that's what we wanna see. Doesn't always work out like that, but again, we're playing the probabilities. We're keeping our position size super small on these. I mean, we're talking $339 of buying power and that's our max risk. And so we're gonna be trying to book 50 to 100% profits on these, we're already up about $100, which is about almost, 30, 28% profit on this. So if we get some continued downside, that's what we're looking for in BABA. And then just the opposite in Starbucks, Starbucks has been an extremely strong stock, just making new highs, higher lows, higher highs. And so I had this little pop up and pullback so we got long right here, looking for a potential continuation. The other thing is it's right under all time highs. So if we can get just a little push up through the all time high, we should be able to book some nice profits in here. Again, small size, 328 bucks in risk. So when we put these on, if this trade falls apart and goes against us, we're okay taking max loss. So we're position sizing to take full loss if these trades fall apart, but if they push up, there's some really nice profit potential, nice return on investment. SPY closing trade. So this was the, we closed the rest. Initially we closed half, we closed six of our 12 contracts. This was the final close and we closed the rest. So we were only in this for a few days, booked a really nice profit on our SPY vertigo. SPX weekly double calendar. So we closed out one of these. This was where price had moved up. It was close to our exit point and we just had one DTE. So we went ahead and just closed that and took a little loss on that one. And then we turned around and opened a new weekly double calendar with further out expirations. Front week nine days to expiration, back week 12. We typically like to be in that six to eight day range on the front week, going out to nine days is no issue with that either. And the reason I say that's okay is because Wednesday was a pretty decent update in the market, implied volatility was contracting. And so yeah, this was on March 31st on Wednesday. And so we put that on with nine days with the anticipation that if the next day the market fell, we wouldn't be able to put on one with that eight days to expiration. And so we went ahead and just put this on. So six to nine, even down as low as three or four days to expiration, that front week is fine. We don't like to go much further out than this though. So that was the one I already showed you on the analyze tab in TOS. And then FDX, here's the final close of that long call diagonal, booked over 100% profit on that portion. Remember we closed out half for about 80% profit and then booked the other half for about 100, over 100. ZBE, short strangle, so we rolled this out. We were down to 22 days to expiration. We were well over 50% of max profit on that. And as we near 21 days, we like to roll that out to extend duration. So if we take a look at ZBE, so you can see we're pretty close to where we put it on here. Got about a $1,200 max profit on this piece. So if we can get some more steady prices and implied volatility contraction, we should do well there. We're still just kind of managing this one, trying to get back to profitability. If we look at TLT, which is the corresponding ETF, you see implied volatility has been really high in here. And so that's why I'm really good with continuing to roll and carry short premium in bonds. Now we did have a very significant implied volatility contraction. You see the IV percentile is down to 37. IV ranks at 36. So we're under that 50 level, but I'm okay still holding on to this. I mean, if we get an implied volatility contraction where the IV percentile IV rank get like the stocks are right now where they're down under 10, then we'll maybe consider closing it instead of continuing to roll it. But for now, I don't, I mean, this is the highest premium on the board is in bond. So I'm okay having short premium in there for now. BA, so we closed out a long call diagonal that we had in Boeing. We put this on looking for a continuation higher in price. Didn't get that. So we were just down to expiration. So we just ended up just closing this out, taking what was left in the trade and taking a small loss there. SPY vertigo. So we added a new vertigo, this one with eight and 11 DTE. So if you take a look at SPY, had a question in the community, why did you do this in SPY with 10 contracts? Why not just do SPX with one? Couple of reasons. One, we've already got an iron duck and a weekly double calendar in SPX. So just to kind of get out of, you know, keep that a little bit cleaner. You can use SPY is just one 10th of the size. The other thing is we may take off, we may scale out of this. So if we get a quick move like we did last time, we may take off five of these contracts, book half and then let the other half ride to see if we can book some more profit. But here's how this set up. We've got about a 13, 14% probability that it'll stay in this little valley area, which we don't want to happen. So we want a big move higher or a big move lower to benefit this. And applied volatility expansion will help this position as well. Whereas, applied volatility contraction will create a SAG. I can't remember who it is in our community likes to call it SAG-E diapers. We don't like SAG-E diapers, but that's what volatility contraction will do these things. So hopefully putting this on with implied volatility and an extreme contraction like it was on Friday, hopefully if we can get a pop or a little down move or even an up move with implied, we're at a point in stocks that, I mean, if we see the indices continue to rip, we might get to a point where we're seeing implied volatility start to creep up even with stock prices going higher. And those are some fun times to trade. So we'll see if that happens. I'm not saying it will, but it's possible and we'll manage accordingly. CL closing trade. So here is our iron condor that we had on in oil. We were hanging around kinda 20, 25% of max profit over the last few days. And then today or on Thursday when we got that massive implied volatility contraction, this thing, the P&L just popped right up in this thing, booked almost 50% of max profit. Remember on these iron condors, we're typically trying to book 30 to 40% of max profit, booked almost 50% on CL. So nice oil trade. And oil, I think I showed USO, the corresponding ETF, the implied volatility was nice and high. It really got that contraction along with everything else on Thursday. But if this thing can pop back up, even if it's not above 50, oil is still one of the highest implied volatilities on the board along with bonds. And so we may add another position back into oil if we get the opportunity into next week. If implied volatility doesn't just fall apart on us. All right, Lowe's. Okay, so in Lowe's last week, we had on a long put diagonal. Always put the initial strategy here. So we had our short puts that were getting ready to expire. So we just let those expire worthless, booked max profit on our short puts. And then we just held onto our remaining long puts just in case Lowe's had a big move lower. We could end up booking profits on those long puts. Now it's pretty low probability chance, but there's no reason not to keep them. You're already kind of at, you already booked max profit on your puts and you're already at basically max loss on your long puts. And so just holding onto those is what we did. So we had those left and then we, so we just let those expire. So we ended up taking net net took a loss on the Lowe's diagonal. DKNG. So in this one, we had a long call diagonal. And so in this case, we just let our 80 calls, the short calls expire worthless. So we booked max profit on those, still holding our 77 calls, which again in this case are at max loss, but there's no reason not to hold them because if we do get a nice spike in price into next week, we can still book a potential profit or at least get back some of what were down on the trade. So we did that in DKNG and then the exact same thing on Disney. Let our short calls expire worthless, max profit and still holding the long calls in case we get a spike up in price, which the way this market's going, it's definitely doable. We'll see what happens. But if we get a decent spike, we're not gonna try to hold it too long. We'll just get out. Cause we were, I mean, we were holding these calls with just a week to expiration. So that theta decay is also working against you. So if we get a quick spike, we'll just take it and run. So that's it. Those were all the alerts for the portfolios. Let's take a look at some of our other positions. We've got a long put vertical in ES. You can see prices well out of range. So we need some price to move back down to get back into range. If not, we will probably just roll that to continue to keep that as part of our short delta for our portfolio. Like I said, we're pretty delta neutral right now. We've got a little bit of short delta, less than one to one on our short delta versus our theta ratio, which is right where I want to be. I mentioned ZB. We've got another short delta play in Apple. You can see it's just outside of its range. So need a little bit of downside to get back in. BABA, did I mention BABA? DE, another one of our short delta plays just outside of its range. Need a little downside to get back in there. DIA is quite a ways out of its range. I need some downside. And we'll be on this one. This was still in April, so we've got 14 days. So over the next week or so, we will be probably rolling that out from April to May, just extending duration, keeping that as short delta. I mentioned Disney. I mentioned DKNG, I believe. Yeah, so this was one where we're still holding the remaining long calls in case we get kind of that little spike up. We'll get back some of what we're down and move on there. IWM, another one of our short delta plays. This is the long put vertical. Looking for some downside to get back into range. Same with QQQs. Those big extended moves here the last couple of days. Those have kind of pushed those out of range. But what's cool is even with the prices moving higher and we're carrying short delta, our P&L is still going up with some of our other positions that we've got on. So if you can still book profits and be short delta when the market's going higher, that's the value of what we're doing here. Rut, I showed you the Iron Duck, SBA, Starbucks, SMH. So we've got this short strangle that's been adjusted into a straddle. And this thing was hanging out right in center earlier this week and it's moved all the way up here. So if we get some more downside, that'll bring it back to center. If not, we'll just continue to manage this. Still got plenty of juice in both our puts and calls. So if you look at our puts, yeah, still got plenty of premium there. So not looking to make any adjustments at this point. If price does continue to rip higher, then we may have to roll our puts up, but we will deal with that at that time. I mentioned SPX, SPY, and then lastly, XLK. Another short delta play. I was actually getting ready to roll this one. It was close to being at 50% of max profit then with the market just ripping higher, just ripped out of range a little bit. This is in April, so we'll see if we can get back into range in the next week or so, and then we'll roll this out to extend duration. So, oh, that's it. Those are all the positions. Those are all the alerts. Everybody have a great rest of your weekend, and we will catch you next week. Cheers.