 Hey everyone, welcome to this week's video update today's Friday June 23rd Don't forget to join us Monday morning for the live streaming on Facebook and YouTube where we do our trade of the week and our Contest of the week Let's jump into the trades that we that we did starting with Monday June 29th. Excuse me June 19th We we closed out a our put side of Of the soybeans July position, so there's only four days to expiration. So we got a little bit of a down move which helped us out Excuse me got a little bit of an up move that helped us out And we were able to get an overall kind of a small profit on that on that soybeans position So and then we also have the other Iron condor that's still on In soybeans you can see here I've got a little bit more room to the downside before we need to adjust on that soybeans position But that one's out in August. So we got a lot of time left there about 28 days. So we will continue to monitor that Next trade was in EFA. So This is the one I sent the video out on we They ended up EFA paid a dividend that they pay twice a year. It wasn't reflected on the platform So we didn't really know it was coming. So we got a sign For every for every contract. So you get a sign 100 shares of short stocks We had four got assigned 400 shares of stock and so we took a a small loss on that overall position But if you haven't watched that video Make sure you go back and do that if you don't understand Getting sign assigned stock bottom line is if that happens All you got to do is just just cover your position get out of the whole thing move on Those things happen every once in a while Next trade was a the closing trade for the QQQ strangle. So we only were in that for seven days Got a nice contraction in IV made over 30% of max profit in just seven days Next trade was in oil so this was a An opening adjusting trade. So we added another strangle in oil IV wasn't over 50 But it was you know high enough to to put on that adjusting trade and and I do like trading oil quite a bit because of the The risk reward and the bang for the buck that you get so let's take a look at oil So now we've got this adjusted strangle here and if it keeps moving down We'll make another adjustment will roll our calls down again We're not inverted yet, but our next move would be to go inverted on this and in that August cycle We've still got 24 days. So next week Regardless if if it moves down or up or whatever. We're probably gonna roll that one out early next week We'll roll that one out to the September cycle So but the trade we were just talking about this has 55 days to expiration and this is a this is our new strangle Still very centered nothing to do here. So we'll continue to monitor that There's the there's the video. So if you haven't watched the video about getting a sign stock It's right there in the alerts 21st. We didn't have any alerts on the 22nd. We did a closing trade in wheat So we close that out for made over 30% of max profit in 14 days Again on these iron condors kind of the standard amount We want to look for is about 40% of max profit, but if we get 30 in less than 15 days, we'll go ahead and take that off So we're completely out of wheat then we had an opening trade and and I bought a put vertical in The ES which is the S&P 500 future purely a directional trade to add short Delta Our deltas were pretty flat So I wanted to get something on that added a little bit of that short Delta to help protect us from some downside If the market ever decides to go down again, it's kind of suspect whether that's gonna happen or not But so so that's what we did there. I also mentioned on the alert that You can you could have done this in SPY or SPX I just like the risk reward that we got in ES and and I prefer to trade the the futures But if you don't have futures permissioning Or you just preferred to do the the equity options You could have done that in SPY or SPX and then accomplish the same thing So this is just adding some of that short Delta a little bit of a short bias You know into our overall portfolio Next trade was a butterfly in Costco So after the announcement of Amazon buying whole foods a lot of these Grocers and and other retailers got got hit a little bit which spiked the IV In this one we went with the July cycle with only 28 days to expiration So that way we're out of the trade before they announce earnings. So if we take a look at Costco Steve still see we're very centered Implied volatility has gone up a little bit Which is pushed our profit down profit line down, but still very centered We obviously we just put this on so we'll continue to monitor Costco Take a look at the chart. I mean look at this this huge downside And and the thought is a implied volatility is so high and we're hoping it just kind of stabilizes Around this price giving us a chance to to take a profit on that butterfly. I Looked at doing an iron condor as well But just wasn't getting enough credit to make it make it worthwhile So that's one of the other reasons I did the kind of tighter tighter butterfly instead Next trade was an opening trade in RUT So the Russell 2000 index implied volatilities at 6 Looking to put on a calendar to benefit from an expansion implied volatility So we take a look at rut and you can see Ivy's gone down since then even stand a one so The Russell definitely the strongest of the indices today can see up 0.61% at this time. Where's the Dow is barely up and yes is up about a quarter percent So if we take a look at that you can see Russell's already moved up a Fair amount on us since we put the trade on but still well within our range Remember our first adjustment is if it gets to the break even we're gonna add another calendar So you want to you want to keep that in mind as far as your position sizing and if the rut is too big of a symbol for you To trade you can always do the same thing in IWM Okay, I just I just chose rut because I like these big high-priced index indexes when we're doing these calendars and And so that's why I chose rut, but you could sure do IWM to get your position size smaller as well Next trade was a strangle in QQQ So going back to the well in QQQ IV still over IV percentile still over that 50 mark at 52 So we entered this one with 56 days to expiration So we take a look at the Q's you can see it. See we just put this on still very centered So we will look for potential contraction in implied volatility to benefit this position Next trade was in corn. So we needed to adjust corn. So our We closed the call side out we closed out a call vertical because price breached our downside So if we take a look at corn, you can see we've got we've got these two positions on now So we've got the Reset this sometimes for whatever reason on toss you have to reset that and Then you can click on the appropriate Options okay, so here's here's where that looks like it breached our downside Took off our call side like we like we teach in the core So looking for a little bit of a move back up in corn to to get out of that side and then Simultaneously we put on a new iron condor and we went out to September to collect some more credit widen our break evens in and add a little bit to that trade so That was the that was the second alert that went out on corn So the first was an adjusting close next was an adjusting open So those were all the alerts for the week. Let's go back and take a look at some of the other positions that we still have on I mentioned oil Yes soybeans DIA we still have this the call side of our DIA iron condor So we we took the put side off after it breached our break even here So I'm not looking for a little bit of a down move in DIA To benefit on that one Still got a strangle in Microsoft So it's just been kind of hanging out up here need a little bit of a down moving Excuse me down moving Microsoft and a little bit more theta decay and we'll we'll take that position off Got a long got a long time before earnings So no no issues with with earnings on that one yet and let's see I mentioned Keel and rut. So that's it so Hope everybody has a great weekend And we'll talk to you Monday morning at navigation training live on Facebook or YouTube. See you then