 Happy Friday trade hackers today is Friday, June 14th, 2019. Welcome to this week's video update where we review all of our trades and positions for the week. And before we do that, let's jump into the community and talk about who got caught being hot each week. We'd like to recognize one member of the community for helping other traders continue to be blown away by just the giving that's going on in our community. So keep up the great work, a lot of value being just provided, trade ideas, experience, trading knowledge, so awesome stuff. This week's winner is Jim W. So congratulate Jim, congrats Jim, you got caught being hot. All right, so let's jump into the alerts for the week. And before I do that, let me just go to the platform real quick and take a look. Here's the S&P 500. You know, we had a big push up in the S&P and I was just kind of consolidating. If I were just to look at this, you know, I would think that we're gonna look at a continuation to the upside. Now, does that mean we sell out all of our positions and get long? No, we're still slightly short. We're pretty close to Delta neutral. We've got a little bit more short Delta versus our Theta. So we are slightly short. We did add a long position in Netflix today, which I'll go over, but just want to give you kind of my thoughts just on looking at the market and where we're potentially headed. You know, just with a big push up like that and then a little pullback consolidation, it does bode well for a continuation to the upside, but those are just my thoughts and anything can happen. So we let the probabilities play out and that's what we're gonna do. So jumping into the alerts, let's take a look here starting with Monday, which was the 10th. The first trade was a rolling adjusting trade in John Deere. So we rolled our long put vertical from June, which had 11 days to expiration out to July. And we wanted to just extend duration on this trade. If we take a look at DE, John Deere, we recently put this on how this big push move down and then after earnings even more and then it started to climb back up, we were looking for a continuation to the downside. Now it did keep on rallying, but still we wanted to keep that short delta exposure in that and still got a chance to roll over here. So we'll see what happens, but just extended duration by rolling that trade out. So if we take a look on the analyze tab, you can see it's moved up slightly more after our roll, still within the range here. So just looking for some downside to benefit that trade. Next trade, closing adjusting trade in IWM. So we closed out our short put vertical in IWM, had 11 days to expiration, booked a profit on that June piece of our iron condor. And we're still holding our other full iron condor in IWM. And so you can see prices hanging out right here. So it could use us a little bit of downside and just some more time to pass in IWM. Next trade closing trade in QCOM, Qualcomm. We had a short strangle booked over 35% of max profit in Qualcomm. So we are out of that trade, had a closing adjusting trade in FXI. So we closed out our short put vertical and booked a nice profit on that June piece. And then we're still holding our full iron condor in July. So if we go to FXI, you can see we've got that right here. So we've got a little bit of profit on this one, just waiting for some more theta two decay in our favor. Next trade was an opening trade in GS, which is Goldman Sachs. We did this just to add some more short delta. And we liked kind of the setup in Goldman Sachs. And so targeting over 30% of max profit. This is a bearish trade, add short delta, kind of like I was saying in DE. We got that kind of a push down and then a little bit of a bounce higher looking for that to roll over. It has a little bit, just not quite enough to book that profit. We're up about $260 on the trade, looking for a little bit more downside before we book profits in Goldman. So hopefully early next week, if we get just a small push down, we will book profits there. Next trade, opening adjusting trade in DIA. So we had an iron condor on and we went ahead and added another one. Price was hanging out near the upper end of our range of our first one. So we just kind of spread out our break evens, collect some more credit on our DIA position. So here's the one that we just added. You can see price is pretty centered. Got a tiny bit of profit there. And then our other one that we already had on is this one here where you can see price is hanging out in the upper end of the range. If price continues higher, we will close out the untested side just as we teach in the course and continue to manage that as needed. So that's where we're at in DIA. Both of these are in July with 35 days to expiration. So a lot of time left in that trade. Next trade, closing adjusting trade in ZW. So price moved higher in wheat and so we closed out our iron condor in August that 44 days to expiration. Booked over 30% of max profit on that piece of the trade and then we're still holding a short call vertical in July. We did go ahead and add another iron condor a couple days later, actually this morning on Friday. So I'll get to that in just a second. In fact, that's right here. So we went from 612 to 614 on Thursday the 13th. We did not have any trade alerts. So that's why there is that space there. So we added that additional iron condor back in wheat. And so here's the short call vertical and we've only got, what is it, seven days? Yeah, seven days. So next week, we could look to either roll this or close it. I don't have a strong inclination or want a directional bias necessarily in wheat. So we'll probably just close this. Hopefully we get a little bit of a downside move in wheat early next week before we do so. We'll probably just close that piece, take a loss on that one. And then we've added this new iron condor, which you can see is pretty centered here. So just gonna play the waiting game on that one. Next trade is an opening trade in Netflix. So we actually added some long delta in Netflix. And like I said, I don't mind being a little less short here, just based on kind of where the market is. We're targeting at least 30% of max profit on this one. I was kind of looking at this as a pre-earnings long call. We ended up doing the long call vertical instead just because Netflix is a bit of a higher price stock. And we also get that positive theta component on a vertical higher probability of success. And so that's what we did in Netflix. So let's take a look at that. And you can see there, just looking for some upside in Netflix to benefit that. If we take a look at the chart, you can see it's been kind of bouncing around and we're kind of in that lower end of the range potentially. And so if we can get a little bit of a push higher, that'll bode well for our Netflix trade. And then lastly, a little light on alerts this week and last week, just kind of waiting for something to happen potentially, hopefully a little bit of a down move to give us some higher implied volatility, but just kind of continue to manage. But less alerts, a couple of weeks ago, we had a lot of alerts last week was a little light. This week was a little bit light, but that's just the name of the game. You got to just kind of play the cards that you're dealt. And in this one, we went ahead and rolled our short call vertical and IYR had just seven days to expiration. So we rolled that out to July with 35. And the other thing is IYR goes ex-dividend on Monday. So we were at risk of assignment. So instead of dealing with that, we just decided to roll out. Now we did roll out for a small debit, but that's just because we wanted to keep that short delta exposure and extend duration on that trade. I like having this short delta exposure specifically in IYR. Look here, it's very, it's somewhat, it's fairly uncorrelated to the market. Sometimes you'll see the market go up and IYR going down. So I like having that kind of uncorrelated exposure. And so that's where this is here. Now we rolled this to a point where it's essentially kind of a 50-50 shot from a probability standpoint, but I didn't want to bring these strikes any higher because that would have created a larger debit on the roll. So just kind of kept that debit small on the roll and just hoping for some more downside in IYR. Now we've got another piece to this trade. And unfortunately, these are, I should have varied the number of, a lot of times I'll vary the number of contracts just to keep it straight in our platform. So you just gotta remember, our short call vertical is the 88.92. And if we want to look at the other one, we just check off those and check on the others. And so we've got this other iron condor, kind of a tight iron condor, almost an iron butterfly where price is sitting dead centered, got a little bit of profit, just waiting for some more before I take that off. So that is all the alerts. Let's take a look at some of the other positions, starting with oil. We've got this short strangle in oil. Price has been kind of, as soon as we put this on, price really shot down to the downside and implied volatility spiked up. So we've been down on this trade since basically after day one, since day two, but it's kind of hung around. We've gotten back some of that. We were down about $1,200 right out of the gate, but price was still well within range. And so again, you gotta let the probabilities play out and that's what we're doing. So we're down a lot less on this trade. If we could get a little bit more up movement in oil, some more contraction in implied volatility, we will be fine there. ES, we've got this long put vertical that we're holding for that short delta exposure. Price is slightly out of range here, just looking for a little bit of downside movement to get back into range. Gold, we've got an iron counter, it's been awhile since we've had a gold position on, but implied volatility spiked up. Sold some premium, up a little bit of money, not enough to take off yet, just playing the waiting game there. Nice move up in our favor in that gas today, up over 2.7% at this point. So we need some higher prices in that gas. Get us back closer to center. If we can get between kind of that 2.5, 2.6 range, that would be excellent. We take a look at that gas. It's just been kind of on a slide since March of this year. So just looking for a little bit of cyclicality, a little bit of two-sided action. If we can get a little bounce up here, that would bode very well for our position there. Bonds have been really strong. We've got a short strangle, which we adjusted into a straddle. And so prices just kind of hanging out in the upper end of the range here on bonds. If we take a look at just our put side, our untested side, you can see still got a decent amount of premium in those options. So not looking to adjust yet. If price does continue strong to the upside, then we'll just roll those puts up just like we do. Got a lot of time left here, 42 days to expiration. So not looking to roll out in time, just looking to manage this as needed. Of course, if we come back into range, we will be able to book a nice profit in bonds. I mentioned wheat, I haven't mentioned apple. So apple we have on this long put vertical. We put this on for some short delta exposure. Prices come up out of range. So just looking for a little bit of downside to get back in. I mentioned DE, I mentioned DIA. EWW, the Mexican ETF, we've got a short strangle on. We've got some profit here, not quite enough to take off. If we get a little bit of downside into next week, we should be able to book a nice profit on that one. Intel, I actually just recorded a video on this because this is something that we come across every once in a while when we go inverted on a strangle. But the, so that video will be coming out on the blog next week to kind of discuss this as a scenario, but basically we're inverted on this trade. We're still down a little bit overall after adjustments. Even though we're at over 50% of max profit as we stand after the roll here, we've got, how much time do we have? We've got 35 days to expiration. So we're not looking to roll out to August necessarily yet. Now getting into next in the next week or so, the August cycle will be under 60 days to expiration. So even though the July isn't even close to 21, we may look to roll out to August, extend duration, lock in kind of the credit that we've gotten on this piece and continue to manage and look for some more theta decay. As far as the earnings go, earnings aren't until around July 25th. So we've got some time to still get some more theta decay before earnings. And then we can make a decision as we get closer. You know, if we've got a little bit of profit, even if we haven't booked our initial target amount of profit on the trade, if we're up anything on the trade, we'll probably just close it out and take that profit. If we are down a little bit, we may consider holding through earnings, but we've got some time before we need to make that decision. Next trade, I mentioned IWM, IYR, KRE. So we've got a, we had a short strangle on here, rolled that into a straddle and got some profit since that roll. We're still down, I think it was about $100, $200 on the trade. So just waiting for some more time to pass, some more theta, two decay in KRE. I mentioned Netflix, QQQ. We've got two sets of short call verticals. Price has been strong to the upsides. So looking for some downside to get back into range on the Qs. SMH, we've got two different pieces on. This is our adjusted strangle. You can see we could use a little bit of upside movement to get back to center on that piece. And then this piece here is an unadjusted short strangle where we've got some profit, but not quite enough to take off yet. So waiting in SMH. SPY, we've got two pieces here. We've got this full iron condor. We've got some profit on that piece, waiting for some more before we take anything off there. And then we've got this short call vertical, which is from our previous iron condor. Price is just out of range. So looking for price to come back down on that piece before we do anything. And then XLK, we've got a long put vertical here. Just looking for price to come back down into range there as well. And XRT, we've got a short strangle where we've got some profit. And if we get a little bit of down movement, a little bit more time to pass, we should be able to book a nice profit on XRT. So those are all the trades. Those are all the positions. Everybody have a great weekend, and we'll see you next week.