 What's up navigation traders welcome to this week's video update today is Friday, January 25th This is our weekly recap of all the trades exclusively for you our Pro members to go over all the trades for the week before we jump into the alerts though I want to recognize our Member this week of who got caught being hot Now typically a lot of times this recognition each week goes to somebody who has Answered a lot of questions or maybe somebody a little bit more experience. That's helping other traders But one of the other things that I like to recognize is the trader who is new and really just trying to figure this stuff out And that's that's what we're that's what we're recognizing this week and that goes to our man Rafael Zuban Congrats Rafael. You got caught being hot and I've had a lot of interaction both on email and in the community He's been extremely active in the community since he's joined and he's trying to figure this stuff out I mean this guy is working 10 to 12 hours a day and Trying to trade on the side and learn all this stuff. It's like drinking out of a wire fire hose at first But he's doing an awesome job So Rafe keep up the good work and I don't want to hear any excuses from anybody else about you don't have time blah blah blah Rafe is doing it and he's doing a great job. So keep it up guys and You got caught being hot and Remember each week when we do this Whoever gets that recognition also gets awarded some trade hacker swag So we've got t-shirts men and women and or a coffee mug with the trade hacker Hashtag and navigation trading logo. So good stuff. I sent Rafe the Link to get that done. So congratulations. You got caught being hot All right, let's jump into the alerts for the week short week of trading as Monday was a holiday recognition of Martin Luther King day so starting on The 22nd which was Tuesday our first trade was an opening adjusting trade in IWM Where we added an iron condor in the March cycle with 52 days to expiration at that point So let's go to the platform and take a look at IWM So we've got two pieces on here One is let me go to this one first. This is our previous iron condor price came through and broke through our break Even here. So we closed out the untested side Still holding our call vertical side here in the feb cycle and then the alert that I just mentioned as we added on This iron condor where you can see price is still very centered. Just waiting for some more time to pass in that one Next trade was a rolling adjusting trade in QQQ So we have two sets of short call verticals in the QQQ These were originally part of our iron condor trades And we've continued to roll those to keep that short delta exposure in our portfolio And what we did with one of them is we just rolled from feb to March And we adjusted our strikes up with the with the strong up movement in stocks we needed to adjust those strikes and get back to a positive theta position if these move outside of our range a lot of times they start having a little bit of a Negative theta position. So we like to get those back in. We're not going to do it right away Sometimes we'll give it a little bit more time, but in this case, it was quite a ways out of range so we want to head we went ahead and rolled that to extend duration and Continue to keep that that short delta exposure So here's the one that we rolled and you can see prices moved up a little bit since we put that roll on And so just holding this for that short delta exposure and then we're still holding our Feb short call vertical as well where you can see it's moved out of range But they're still at a decent chance that it could move back into range between now and expiration So we're holding this one for now and we'll continue to manage that one as necessary Next trade was an opening trade and we did a pre earnings long call in Google And we did this in the weeklies remember when we're doing these pre earnings long calls or pre earnings long straddle We always want to do it in the weekly cycle that the earnings are announced so they announced on 2 4 So we did it in the Feb 8 weeklies with 17 days to expiration and So if we take a look at that trade Right after we did it. Let's go to a chart first right after we did it price price moved down on us that Actually the same day Pretty significantly zoom zoom in here a little bit So moved it moved down quite a bit and it bounced came down bounced again And now we're we're back into positive territory. We were just a little bit early on this I mean if we would just waited till later in that day We would have already been out of this with a nice profit, but we're pretty much Pretty close to where we put it on got a little bit of profit Hopefully we get a little bit of a spike up in Early next week and we and we can take that off for a profit If not, we're definitely going to be out of this before the earnings announcement Next trade was an opening trade in IVM So this is another earnings related trade and this was our post earnings Short-put vertical and when we do these what we're looking for is if a company announces earnings and that in the price Jumps up and it moves beyond the expected move. So the expected move was somewhere around seven dollars The price moved up. I think it was around nine or ten at the open So we sold a short-put vertical and sell puts you can sell short-put verticals Those are those are really the two because what typically happens after earnings is you still continue to get some Contraction and implied volatility. So we want to be nor net short premium So selling puts or short-put verticals is the strategy here We did short-put vertical to define our risk and let's take a look at IVM move up over a percent today And we're almost at a point of 50% of max profit and that's what I'm really looking for When I initially put this trade on You know, we look for stable to higher prices if we can get up to the top of of where it hit After they announced earnings, that'll get that'll get us to that 50% of max profit So assuming we don't reverse and go down on Monday, hopefully we can get out of this one with a nice profit Next trade was a rolling adjusting trade in 6b. That's the British pound we had a short strangle on there and We it was down to 16 days to expiration We like to roll these or close them out once we get to around 21 days to expiration. I gave it a few extra days I was hoping we just get a little tiny dip down to the downside in price And if we had we would have been able to just close that out for a profit and be out But price continued higher. So we went ahead and rolled to extend duration the implied volatility is still nice and high in 6b or actually fxb is the corresponding ETF that we use to look at the implied volatility indicator So let's pull up FXB first and you can see IV percentiles at 79. So we're still nice and high But prices continued higher up about a percent today And so here's where we're at. It's just kind of hanging out in the upper end of the range We'll just kind of continue to hold this and manage as necessary And we may we may look to add another piece if it really moves out of the range here We may add another centered strangle to collect another credit with implied volatility this high I have no issue doing that in the pound Next trade was a closing adjusting trade in EWW. So we had a March short strangle on in EWW We're only is in this piece for 10 days and booked over 30% of max profit on that piece of the trade and Then I'll go to the platform here in a minute because there's another alert that we did this morning in EWW on our other piece So I'll go to the platform when I get to that Next trade was a rolling adjusting trade in our friend CL in oil and basically what we did is we just took one of our short strangles that was in March with 21 days and moved it to April with 50 and Kept the same exact strikes. So we're still at the 54 call 56 put so a little bit inverted on that piece So let's go to oil and oil is really making its way back nicely here for us Here is the piece that we just rolled. You can see we've already had Over three hundred seventy dollars of theta decay since we did that roll and then we've got this other piece here Which is which is fairly centered now too with oil moving higher So oil is really coming back nicely, you know if prices stay stabilized We're gonna get back to profits in this trade after that huge massive move against us You know here in the next 60 90 days So oil playing nice for us there Next trade is a rolling adjusting trade in SMH. So we had an adjusted short strangle and we just rolled that out from February with 22 days out to March with 50 and There's very little value left in the puts as well So we wanted to roll those up and see we roll those up from 85 to 90 So now we have an inverted short strangle in SMH. So let's take a look at that You can see price has moved up since then even so we're kind of hanging out near the upper end of the range here But we're out in March now with with quite a bit of time So just gonna continue to manage this implied volatility has been contracting, but it's still at a decent level It's still at 59 on the IV percentile. So if we get a little bit of a pop in implied volatility We may look to add to this one next week Next trade and the final trade was a Closing trade in ZB. So this was our bond trade booked a nice profit on this trade over four hundred dollars and Implied volatility really contracted in the bonds And so if we take a look here ZB Where is it? Oh, it's off the it's off the chart here Because we're not in it, but let's go to the closed trades is what I was trying to do And you can see we've got you know $421.88 profit. I had to roll that one time Stayed mechanical worked out nicely closed that out for a nice profit Now let's go back to the alerts and I think I need to refresh this. I'm not seeing today's trades So let's get those on board here There we go Let's go back to the alerts There we go. Yeah, let's get to the alerts Okay, so 120 we got us the last on 124 with ZB. Okay, then today's trades we did a We opened and closed our iron condor in ZW in wheat So you can really almost think of this as a of rolling an iron condor We don't roll technically the platform doesn't accept rolling four-legged spreads And so we do this in two separate pieces, but we wanted to extend duration to get back Some more profit in wheat so we went ahead and opened one out in April with 56 days to expiration And then our one in March We went ahead and closed that booked over 40% of max profit on that piece So if we go to wheat Take a look. We just put this on today. So yeah, it's dead centered no profit or loss at this point on that one Next trade was a rolling adjusting trade in EWZ So we had a short strangle on an EWZ getting down to that 21 days to expiration So we wanted to roll out in time and then we adjusted our puts up Just one strike from 41 to 42 to collect a little bit more credit So if we take a look now at EWZ What you will see is let me uncheck these let me close this one out And you can see even since this roll earlier today. We've got a little bit of theta Collected back on that trade. So now we're at the 42 straddle. So we rolled our puts from 41 up to 42 Our call was already at 42. We kept that the same. So now we have the 42 straddle. So just playing the waiting game here hopefully hoping that You know prices just kind of stabilize in here the implied volatility is really contracted in EWZ You know, it's it it was quite a bit lower. It popped up. So it's it's at the 41 percentile right now But we'll wait to add anything We won't add anything unless the implied volatility pops up above that 50 level on the percentile indicator And then pretty much the same thing in EWW We rolled this one from Feb with 21 days out to March with 49 And then we just adjusted our puts up a couple strikes from 42 to 44 left our calls the same So let's take a look at EWW. I mentioned in the previous alert We had two pieces on we had one short strangle that we didn't adjust and we went ahead and just booked that profit over 30% of max and that's why this is showing zeros here That was our Feb that we took off and then this is our rolled position Where we've got an inverted short strangle just looking for a little bit of downside and some more time to pass in EWW and same as EWZ, you know applied volatility has been contracting So we won't look to add to this unless we get a pop higher in IV So those are all the alerts. Let's take a look at some of these other positions ES we've got this long put vertical that we're holding for that short delta with the up moving stocks You can see it's a little bit out of our range. So just looking for some more downside to get back into range Natty gas is also playing nice Let's take a look at these individually. We've got the 3.1 call 3.7 put see prices hanging out right here getting back some more that Getting back some more profit in that one and then the other piece here is the 3.2 call and the 4 put now the markets are closed So that profit line is a little bit elevated when the when the markets closed these bid ask spreads widen out So you don't want to really pay attention to this when the when the markets are closed But still working very nicely. We could use a little bit more up movement in Natty gas to benefit that piece Apple big move today up over 3% broke out of our range here we've got this long put vertical on for that short delta exposure and So we're in February here got got a decent amount of time But we would like to potentially roll this to March to Extend duration on that trade and keep that short delta exposure and by the way with our short delta to theta ratio We're right at about two to one still Which is a great spot to be in I like I like where we're at there And so not looking to necessarily add a bunch more short delta at this point But just continuing to manage that right around that range kind of one to one two to one three to one You don't want to over manage that delta exposure Because price you know can move quickly and it can it can take that You know if we get a sharp move down it's gonna take away a lot of that short delta automatically just just naturally So we don't want to over over adjust our deltas But just be aware of where that are and where that is and make sure we're comfortable where we are which which at two to one I like I like that position where we're at Costco another short delta position. This is a short call vertical You can see price even with the market up big today. Costco is down Which helped our position here, and so we'll just continue to hold this for that short delta exposure DIA we've got two sets of short call verticals one is in Feb and You can see with the strong stocks prices moved out of our range So just holding that to get back into range and then our other piece here very similar to the QQQs This one is in range and just holding that for that short delta exposure as well EEM I actually had an order in to get filled on closing out our untested side today Price was out here past our break even there was very little value left in that short put side We take a look at it. I was trying to get filled never did I didn't want to chase it so I just went ahead and Cancel that order and so we're gonna hold this over the weekend if we get a move down and EEM great We might potentially be able to book that one Or or if it moves higher we may look to add actually I can't remember. Where's the implied volatility here? That's it's a little bit lower. So we probably wouldn't add at this point, but we would probably just manage it Without adding in other words. We take off the untested side See if we get a bounce a drop lower to get back into range potentially roll it out to the next cycle We'll see where we're at with everything, but we've got what did I say? We've got yeah, we're in Feb. So we've got about 20 days to expiration 21 days to expiration left in Feb I mentioned EWDW I mentioned EWZ Google IBM IWM IYR. We've got an iron condor going on in IYR It's well within range here. Just waiting could use a little bit of downside a little bit of theta decay and IYR Microsoft we've got this long Strattle that we put on for a pre earnings play remember Microsoft announces on the 30th Which is Tuesday, I believe so we want to be out of the trade by then Hopefully we can get a spike up in implied volatility potentially a a decent size up move to get out of this for a profit Otherwise we we may just book a loss. We're not going to roll or extend duration on this one. I mentioned the cues I mentioned SMH and SPY so in SPY we've got two different pieces here. We've got our short call vertical from a previous iron condor reset these so I can uncheck these boxes and That's still in Feb. Oh, excuse me. Sorry. It's this one and You can see prices moved up out of our range So just looking for some downside to get back into range there If not, we might potentially roll it or we might just close it depending on where we are with everything And then we've got this other iron condor where you can see prices now kind of hanging out in the upper end of that range So could use some downside in SPY on both of those pieces XLK another short delta position that's getting a little bit hurt right now with the strong up movement in stocks And this is this is a position that I will be aggressive in rolling early next week And this is what I'm you know, if you look at the Gray shaded area. That's the one standard deviation move So it has a very little chance of getting back into range for us not to say it can't but we're you know We're playing the probabilities. So now we're in a negative theta position. I've put the slice right on price You can see theta is negative negative four here So we want to try to roll this adjust our strikes up and get back into a positive theta position And just continue to hold this for that short delta exposure that we want right now XLV another short delta position and you can see we just need a little bit of a little bit more downside to benefit that one to get out of that and Lastly X RT. We've got this adjusted short strangle hanging out kind of in the upper end of the range Could use a little bit of downside to benefit that one, but we are in March. So plenty of time there So those are all the alerts. Those are all the trades Everybody have a great weekend and we'll see you in the community next week. Have a good one everybody