 What's up trade hackers welcome to today's update today is the last day of the month Tuesday March 31st Starting with our trade hacker question of the day. I thought this was interesting someone emailed me and said What if you currently had no positions on you're 100% in cash? What would you do right now? And I think that's an interesting question just because I actually think about that sometimes You know when I've got all these positions of managing Adjusting and I and I start to think is this really and there's the closing bell I think is this really where I want my portfolio to be if I sold everything if I closed every trade and Start it over. What would I do right now and and for me? I think the way that I would start getting back into trade start building my portfolio back up is with two main strategies and we've been doing a lot of them in the community and Through the alerts portfolio, but that is the iron duck strategy and Double calendars or double diagonals and the reason I like those two especially in conjunction with each other is If you add an iron duck on a down day your implied volatility is typically expanding You're getting further away from money on your downside break even you have no risk to the upside So if the market does turn around and rip higher you have no risk to the upside But you have a huge downside buffer on a double calendar We'll do we like to do these short duration double calendars With you know six seven eight days to expiration in the front week and we make them really wide and they benefit from implied Volatility expansion so if the market is up or implied volatility is down It's a good day to put those on because then you benefit from implied volatility expansion So keeping your position size super small and on down days on implied volatility expansion days adding some iron ducks and On implied volatility contraction days or in the markets going higher add in some weekly double calendars Of course also layering in some short Delta as you build that portfolio So great question. Hopefully that helps. Let's jump into the platform and take a look at what's happening today starting with The S&P so the S&P's market just closed. You heard the bell future still going Futures down 43 points on the S&P down 400 on the Dow Nasdaq down 74 Russell down 14 now Take a look at this range. I mean we had a range a hive about 26 35 a loa of about 2558 and so look at the just you can do it by just eyeball and look at the size of this range It's the size of today's bar compared to everything else for the last month I mean, we don't have a bar that small on a daily range until you get back here until February 21st, this is the smallest range We've had since February 21st and if you look at this this range What I say 26 35 to 25 58 about an 80 point range. I mean in normal market conditions I mean just a month ago. We would have said that's a huge range right when you're when we're trading back in this area here I mean that's a big range, but compared to what we've seen lately It is the absolute smallest range in the S&P that we've seen by far and so just interesting now Does that mean things are slowing down? Does that mean volatility is subsiding? I wouldn't I would not bet on that I would not don't fall asleep Based on today's small range. In fact, it was a little it was pretty choppy I mean it the market started off down then it went up and then it came and now it's come back down Later in the day, so it's been a little bit of a wild ride within the range that it's traded But don't fall asleep thinking that we are going to start seeing smaller ranges because I do not think that is the case So what did we do today? Well, not much. We added we sold some premium in the S&P's and That is about it. If we take a look at some of the other stocks one stock just had earnings Restoration hardware now, this isn't a stock that we trade a ton, but it's liquid and it moves and so the earnings was on 320 let's see 330 after market. Yeah, so it was yesterday after the market So down almost 15% today So if this is any indication of what earnings will be looking like as they start to roll out after the end of the quarter Look out below, but you know, who knows we'll see what happens But I think there's gonna be a lot of bad news. The question is what's already been priced in right? I mean if you look at Apple for example Apple comes out 428 so I mean it's about a month away, but you know the question is based on Apple's projections and their current revenue and revenues from the quarter how much of this move is already priced in right? So it's not I mean Apple could come out with an outstanding number way below estimates away but the stock could tank because of Just the way the market is trading right now So be careful with that We'll look forward to trading some earnings plays as they start to come out over the next few weeks Everybody have a great evening. Talk to you tomorrow