 What's up navigation nation? We are back with another coaching video for you today is Wednesday, November 22nd The day before Thanksgiving, and I'm here with our contest winner Matt King Matt. How are you? Hey, what's going on glad to be back? So we are let's take a look at where we're at with with all of our different positions We're on the monitor tab in the account here, and you can see we've got Well the current positions that we have on our oil Which is which is one that we're going to be booking profits in today? And then we've also got a position on in Nat gas 4 slash NG Which we've got some profit there, but not enough to take off yet. We want we want some more and Then we've got NQ, which is our little problem child. We're getting back to a point of Break-even and and we had a huge rally yesterday In the in price of the Nasdaq and so we're back in the hole on that one. So we're gonna let that one Fester a little bit and and hopefully Hopefully we can get a little bit of downside movement in price and get back to get back to where we need to be Nasdaq still owes us some money. They're holding out on us, but I have a feeling they're gonna give it back. Hopefully Yeah, hopefully is right And then we've got Costco, which is a trade that we just put on a few days ago And that's we did an iron condor in Costco. So just put that on so Down a few shekels 15 bucks not much profit or loss there. So we'll continue to monitor that one But and then I'd like to put on a new position, but before we do that Let's go ahead and book our winner in oil ford slash cl If you go to the analyze tab there, let's just check that out show everybody where we're at in that position Yeah, it's like three thirty about three thirty out of nine ten Yeah, and we and we put this trade on only about seven days ago. So if you You know from our course on strangles, you know that any time we we make, you know, 30% profit 30% of max profit in 10 days or less We're gonna book that we're gonna take that money and run and there's no reason to wait around especially with price So centered right now, you know if it moves a decent amount in either direction We're gonna we might start to lose money from where we're at. So we want to go ahead and book that profit Gotcha So I do that right now. Yeah, let's go ahead and let's go ahead and do it All right, sure. I'm Select these down here. Yep. Yep Yep That's the wrong one. So they're both selected. So we want to both be selected and then create a closing order buying Looks like we're right there 58 cents. So we should get filled right there. I was gonna say I guess 58 cents looks good It doesn't get doesn't get much tighter than that Send yeah, there it goes and it's out. All right, so good deal booked in a nice trade there booked a nice profit there Mm-hmm. So Yeah, we already talked about where we're at with the other positions go ahead and click on the Nasdaq Ford slash NQ So you can see this we've got these two different positions on this is the aggregate of both positions So you can see prices just kind of hanging out on our upper upper end of our range So we really need just a move down in price And we we can you know if you if you kind of drag your mouse down to about, you know the 6,300 level Hover yeah right there I mean if we get to that point I mean we'll be we'll be back in the profit So it's not gonna take much of a down move We we do want to eventually roll this to January So, you know if price just kind of stays where it is or continues to move higher We're gonna roll this out to January if you go to your trade tab To see how many days we have left to expiration Yeah, hold on Yeah, so 23. Yeah, so we've got 23 days left to expiration and Again is taught in the strangles course the mechanical thing to do is once we get under that 21 days to expiration That's when the that's when the gamma, which is one of the option Greeks It's kind of a it's one of the measures of risk the gamma or the risk in the trade really starts to accelerate once you get under that 21 days to expiration with these strangles and so What we would do is we would simply roll that trade out to January But at this point nothing to do if in the next couple days Price moves down. We'll just book the profit and get out of it if it continues higher or kind of stays where it is We will we'll look to you know sometime early next week. We will look to roll that out to January Okay, I hear you So this I'm sorry. Go ahead. I'll just say this one's has been It's been an interesting ride with the Nasdaq. Let's just say that Yeah, and you know that's it's pretty normal, you know just based on the probabilities, you know one One one underlying symbol and we try to stay pretty diversified. You know, we've got some in stocks I'm a natural gas. We had oil. We've had bonds We've got Costco, which is individual stocks or we're staying very diversified But you're always gonna typically have a problem child in the bunch, you know, it'd be nice if we just Put it put it put the trade on and book the profit took it off and made it easy But unfortunately, it's never that easy You've got some of these you got to you got to manage and adjust and roll and and eventually, you know The probability do always play themselves out over time But but the other part of it, you know, is we've we're in a very finite a very short period of time here We're just trading this account for three months during this coaching and In contest session, so You know, I think we'll I think we'll be all right We just got to continue to work work the trade as we do and stay mechanical I agree. Yeah So let's go ahead and so now we've got we've got $35,000 of buying power available and So let's go ahead and put on another position We've got with the market the way it is kind of going into a holiday weekend You know, we've got a lot of premium just kind of being sucked out of the out of the different options and a lot of different symbols But one that that still is continuing to kind of hold up Hold up its wings as far as the implied volatility goes is EWZ so go ahead and click on EWZ Go to your charts tab And so you can kind of see it's implied volatility is down some today But it's still above that 50 level the percentile is at the 58 level now the 57 So still some decent premium in those options So let's go ahead and go to the trade tab and and put on a trade in EWZ Okay So the 50 58 days Yep So we'll be in the January 19 cycle January 18 19 January of 18. Yeah, January 19th of 2018 is kind of how you how you read that I don't know why I don't know why they make it so complicated in such a weird order But hey, that's that's the exchanges that we deal with In the in the military, that's the way that I would read that 19 January of 2018 Okay, that's actually I don't know why the military. I always thought that that was weird that the military did that But just some weird trivia for you. Well, they got a weird 24 hour clock to you. So yeah, they do Took me took me 20 years to figure it out and then Then I was done with it so Let's hit a 23 here and Sell a strangle selling our typical Typical strangle kind in that There's a 21 20 class. Yeah 37 so I got 44 on the call 37 on the put and Did you want to change the the contract amounts? Let's go ahead and move it over to the analyze tab and then we can adjust it over there Okay Let's look Analyze that trade So, I don't know if that's accurate 99.96% Well, it's accurate based on the ability where the slices are currently set and where the date Oh, so once we set our slices, we'll get a more accurate reading Yeah Still and then we're gonna change your little calendar up top there Make sure that way it matches the expiration date I Should remember it since we just talked about it in detail 19 19 January 64 percent. Okay. That's about more right Yeah, the 19th is actually the Friday, but technically options expire this Saturday after The Friday expiration just a little FYI. So you actually want to kick that up to 120 to give the most accurate reading Okay, and and you'll see that's that's reflected in the in the little box the bottom left of the graph where it said So always shows the expiration date of the teal color 120. Yeah, son of a gun sure does doesn't it? so hundred and $21 max profit with one one contract there Yeah, so collect the credit and get it a little over 64 percent Probability of success if we held it all the way to expiration Obviously we like to book our winners and a percentage of max profits. So our probabilities of winning is closer to 80 85 percent and And yeah, so based on the amount of capital Let's go ahead and you know, we don't want to get too big and we've got You know premium like I said kind of being sucked out of the markets right now implied volatility being with implied volatility dropping But let's go ahead and put on a let's go ahead and put kick that up to five contracts And that'll be a good position And then if we need to if we want to if implied volatility spikes back up or if we have a big price move We can we can always add another another layer and scale into that position Sounds good to me so that'll give us a max profit of 605 and So go ahead and ship that order in Okay, so using about twenty five hundred dollars in capital Yeah, that's what I wanted to look at there Stop that Hopefully I did everything right there. You did we just need to we're gonna need to adjust that one not gonna get filled At $1.21 probably get filled at $1.20 or $1.19. I Always have like a moment of hesitation before hitting that send button cuz it's like oh did I do everything right? did I select the right amount and You know, it's it's always You know so the more you do this the better it gets But it's always a little bit of a moment of hesitation as I'm about to hit that Yeah, but I didn't screw it up. Yeah, no, I hear you I mean and that's part of the reason I kind of go through the steps that I did that I Have taught you and I teach in the course to bring it over to the analyze tab Set your slices make sure your probabilities are in line for for kind of the this type of trade Set you know make sure your calendars on the expiration dates He kind of get an accurate reading and give you that kind of visual visual picture So yeah, but and then even that you know when with only, you know trading for a short amount of time Yeah, you're gonna have that hesitation Eventually, you know the more it's just like anything the more you do it the more comfortable you get with it Next thing, you know, it's second nature and you don't really even think about it, but So no problem. I can I can imagine that One day one day. I'll be there So go ahead and go ahead and pop up your little arrow down below there. Yep and let's go ahead and Cancel replace on that working order. Let's kick it down to 120 see if we get filled there So it looks like a pretty tight spread there. So hopefully that does work EWZ stays pretty liquid pretty tight. So yeah, I get it's got filled at 120 Yep, dude Cool. So we are in a trade And we've got so we've got four different positions on we've got Nat gas we've got NQ which is a basket of these a lot of technology stocks We've got Costco, which is an individual stock and then we've got EWZ, which is the Brazilian stock market index ETF So good diversification here, you know, hopefully we get a little bit more implied volatility spike potentially, you know next week and And that would give us an opportunity to put more positions on if we don't we still may put another position on and You know depending on what happens with you know, especially especially with Nasdaq We'd love to we'd love to see it down moving that because that would do two things for us one if stocks are moving down we'd get a spike in implied volatility and then two that would really help our Nasdaq position just to To get back some of that that money that they owe us Yep. Yeah, definitely. We want to get some money back on that Well, cool. Well, that's all we got today Matt any other comments or questions before we sign off I Don't think so. I think it was a pretty straightforward day and we'll definitely keep an eye on that that NQ and See what happens? Cool. Well, I'll help you and your family have a great Thanksgiving And uh barring any major moves so just to give you an idea the the hours for the for the market So that it's closed on Thanksgiving Uh, and then it uh, the markets actually open a half day on Friday So it's open till noon central or one o'clock your time So if if we do see some kind of major move, uh, I don't want to bother you on your holiday But we'll at least correspond and kind of talk about what's going on and if we need to make a make a move We probably won't record it But uh, but we can definitely place a trade if needed Yeah, definitely stay in touch. Uh, we'll make something happen if it needs to happen Cool sounds good. Have a great holiday. Yeah, and happy uh, thanksgiving to you and everybody that's listening as well All right. Take care. Okay. Take care