 What's up everybody today is Monday, November 27th. It's the Monday after Thanksgiving I'm here with our contest winner Matt King Matt. How's going? Hey, what's up, man? It's good to be back How's your Thanksgiving? It was good. I had some family over. It was a good time Very good. We hosted we hosted our Thanksgiving as well had a lot of family in and just good time to kind of unplug Get away from the markets for a little bit reset everything and we're glad to be back at it Awesome me too. Well, cool. Well, here we are on your monitor tab here And you can see as we go down the line basically kind of the same story We're we've made or are making money on every symbol except for our little red-headed stepchild the Nasdaq My gosh, yeah, so it's it's still being a little bit of a thorn in our side We just we I mean we could really use just a little bit of down movement in the Nasdaq to to get back to profitability But it's just not it's not participating in what we want So we actually need to make an adjustment in The NQ in the Nasdaq, but before we go to that let's just go down the line and click on your analyze tab Yeah, and take a look the first one being for slash ng which is natty gas and What was really interesting if you go to the charts on the Friday on this last Friday? The Friday after Thanksgiving, which is typically a very quiet day for trading as you can see that big red bar here Nat gas was down over four and a half percent just that just that Friday Interesting, I haven't even looked to see what what what the reasoning was it really doesn't matter But it was down over four and a half percent now today as you can see it's up over four percent So that gas is moving around But if you go back to our our analyze tab what you'll see is that you know prices still in our range Hasn't breached a short strike yet We just we need a little bit of more up movement in price We'll have it more time to pass before we before we do anything in Natty gas, so I'll get there Skip over NQ. We'll come back to that one go to Costco This is one that we put on an iron condor in and still very centered Tiny bit of profit, but nothing to do in Costco yet and Then EWZ which is the Brazilian ETF I can see still very centered tiny bit of profit there again nothing to Nothing to do an EWZ yet if you go to the chart you'll see that implied volatility is actually continued to rise so actually down tiny bit today, but we need a little bit more contraction in implied volatility and For price to stay in a decent range before we before we do anything in EWZ Gotcha So that brings us to our little problem child the Nasdaq so As you can see price is hanging out Continuing to hang out in our upper upper end of our range and There's a couple couple things here if you uncheck the calls down below I reset it again gotta reset it and What you'll see is that if you uncheck your calls what you'll see is almost all of the premium Is already out of the put side meaning we're at basically almost max profit on the on the put leg So those puts aren't really helping us anymore meaning if price continues higher in the Nasdaq The only thing we can do is lose money They won't help us as far as theta decay or time decay or if the price moves up won't help us in Kind of softening that that blow so we want to we want to move our puts up closer to price collect more premium And at the same time we're actually going to roll out to January So these are currently into the December cycle if you click on your trade tab I think we've got 18 days left to expiration in those and Kind of the the rule of thumb that we like to follow with these uncovered options, which is strangle straddles kind of these naked options to help Help manage our risk is once you get under 21 days to expiration The the risk in those options really starts to accelerate and that that refers to gamma Which is one of the the option Greeks that we look at and and basically what that means is that? small movements in price can accelerate the Price of those options so in looking at this I mean if if Nasdaq were to make a big down move we're gonna wish that we hadn't rolled But to play it a little bit more to the safe side We want to cut down some of that risk roll out to the next cycle and we'll continue to manage the position from there We we've got to roll the puts up anyway because they've basically lost all their value and with this many days to expiration We want to go ahead and roll out to January So yeah, go ahead and go back to that analyze tab, so let's do this let's just go ahead and close out our puts and We can just close both of those together, so just highlight the two puts there There go and then right-click and close the create closing order And Yes, it's gonna make us do one at a time So yeah, that's right with futures we can't roll and as one transaction So let's just close out each one separately, so go ahead and pick that one and let's close it out Okay, I'll just try to get filled at 550. Let's split the difference there Okay, 550 and Confirm it's that one worked got filled at 550. Okay, so before we do anything. Let's go ahead and close out the other put Good try to bring that up. Hopefully you can see the bottom here. Yeah, the Other put which one says that that's 61 70 Which one I just did the 61 71 or I did 60 60, so this would be the right one correct All right closing order for this one And let's split the difference on that one too. Let's go to well, let's go to 925 See if we can get filled there Okay Yeah, I want to get filled so it's just trading a quarter off of quarter off a mid-price right now So so then what we can do is before we do anything with the calls Let's go ahead and enroll our our puts. Let's complete our put roll And so to do that go to your trade tab and we're gonna close the December cycle With 18 days left that you're in there Yes, so you're gonna minimize it by going on that little arrow on the left hand side of the December right there's one here Yeah, got you and actually to populate the the next expiration cycle Go ahead and click on forward slash in queue on your watch list up above So it's waiting for data There it is So when you're when you're clicked on your watch list down below of your current positions That was only the December contract So you had to click on the the main one up above to Actually let it populate the January and in all the different cycles available. Got you So out of the January 18, that's the the week three or the the most liquid options And that's noted because they're colored white there as you can see Mm-hmm. Go ahead and open that up and When we roll our puts up we want to roll our untested side, which is our puts We want to roll those up to around the about the 30 delta is kind of the rule of thumb that we use In this case, I would like to give it Well, first of all, we've got two different positions on and I want to keep those separate So let's do one right at the 30 delta So go ahead and right click on that one that you're that you're highlighted on right now and sell We're gonna do single because we're just selling a single put And actually I'm sorry. We're oh, I just said yeah, we were on the call side So we actually need to go over the put side. Oh crap. So go ahead and that's okay Yeah, you can delete that if you want And then go over scroll up And we want to be on the 30 delta for the puts Oh, yeah And in this case, that's the 62 50. So yeah, same thing just right click and sell single Single and we're probably gonna get filled somewhere. Let's try to kick that up to about 66 Uh, six, let's do 66 75 Okay, I'm gonna go the other way I was gonna say that one went over the middle mark there. Yeah, we want to go to 65 65 50. Yeah, there you go 65 50. Yeah Okay, do we don't need to analyze anything? No, go ahead and confirm and send And we're not getting filled there which is which is okay. We'll just let that set for a second And then we're there you go right there I got filled to 65 50. So we're in that one now I'd like to do one with a little bit lower delta a I want to keep the keep the trade separate And I'd like to give the nasdaq a little bit more to the room to the downside To to hopefully benefit us. So let's go with the let's go with the 6200 which is the 25 delta in this case Okay, this one here. Yeah, so the same thing sell a single and let's try to get filled here at about 55 55 even so i'm good And sent There we go went through and I should have stopped you But one thing one thing you would have noticed on that uh confirmation box is that when we do this It's not taking up any additional capital So that's the that's the thing about You know strangles is that if we have a call side already on if we go to Sell a put side it doesn't cost us any more in buying power because You can only lose one way right price can only move up or it can only move down Or obviously stay in our range is where we profit But you can't lose on both sides at the same time. So you get that You get that offset. So it it costs you no additional capital, which is a which is a good thing Okay So let's go to our let's go to our analyze tab and check those out and last So what you see here is um, and actually you're going to You're gonna want to click down on your current account watch list on the left And click on nq h8 So these are the new ones that we just put on And so if you uncheck one of the boxes down below What you'll see so this is the 6200 put the the first one we put on And so if you hover over the graph up top What you see now is we've got a max potential profit of 1100 on that So we collected that new premium. It's a new fresh put. So now if price continues to move up That's actually going to help our position on that put side And then and so it gives us a new credit of 1100 on the 6200 and then Down below click off the 6200 and click on the the 6250 And do the same thing and we collected a credit of 1310 on this one So we collect it so we're a little bit closer to the money, but we collect more credit So we have more profit potential or it or it helps us more in an up move And it keeps them separate. So that way we can continue to track these as two separate trades Okay So now we got to go back and do our call side. So if you click on the other NQ, which is the NQ z7 over there on your left This is the december cycle. So you can see we still got our calls there And we basically want to want to close those out as well And remember when we reopen these or roll them to january, we're just going to use the exact same strikes So we've got the 6180 and the 6280 And so just go ahead and close out one of those at a time just like we did the others Close closing order by that back and let's try to get filled. It's two thirty six fifty Actually, that's the wrong direction We're not going to get filled there. Let's do let's go with two thirty eight two thirty eight even And we got filled so two thirty eight and then same thing on the 6280 Try to kick this down to let's say 147 50 There we go Won't get filled here, but let's let's try it out. Anyway Yeah, it worked. All right. Good deal All right. So we're out of the calls in december So now we got to go back to the trade tab And reopen those calls in january so you can I got to pull up I got to go up here to nq and then There's our january stuff Now you're looking at doing the same strikes So we would instead of looking for the delta we want to look for I think it was 6180 wasn't it? 6180 and 6280 Okay, here's 60 Yep. All right. Just to make sure i'm We're doing calls this time so 6180 would be over Here And we are Selling again, correct. Uh, is this a single single as well? Yep. Yep and then So let's kick this up to about 295 Let's say 295 295 is over the mid there. Yeah, my bad, uh, two 90 let's do 292 Try that There Sure There we go So that's the 6180 now we want to look at the 6280. Yep And and before you do that matt just a just a note because people might be wondering and you might be wondering if you click off that real quick So look at the 6280 it shows as far as open interest zero contracts now Typically in that case, I don't I don't like to trade in in this low of volume But with the nasdaq, you know, it's got Uh, you know, this is the the january future cycle, but we've also We're looking at the the difference between the bid ask as well as the fact that you know, the nasdaq Market is you know, we know it's not as liquid as like the s&p's and things like that But we really won't have an issue getting in and out of this trade because the nasdaq as an index as a future As a as an asset is is very liquid And so the futures are always going to to to track that But I just I wanted to point that out because in a lot of symbols like etfs and things like that I would not trade this with with such low open interest low volume, but in this case, this is just kind of a nuance from Uh, you wouldn't know unless you you traded for a long time, but in this case It's still we're still going to get filled It's still a decent vehicle to trade even though it's showing You know zero open interest on that strike at this point Okay, I didn't catch that. So I appreciate you bringing that up Um I'm just looking at the strikes going. Okay. This is what we're at. This is what we're going to put it back at so but Go ahead and right click sell single there oops so Single And let's try to get filled at the about the two At 20 yeah 24 214. Yeah, let's try there try that. All right Back to the right one That's good. Yep. That's correct Hey, it looks like I went through 14. All right. So now we're all All rolled to january. So let's go back to the analyze tab and just Take a look at what we've done here So if you go go down below on your current account watch list on the left click on nq h8 And excuse me So now you can see it's a little bit. Um, well, you've uh, let's just click on one one of the one strangle at the time so you've got the 61 80 call And let's click on the 62 50 put 62 50 Click that off and what which call did you want? So we'll keep the 61 80 on Okay, and so undo that one and undo that one. Yep So now you can see it's it's kind of a similar Similar graph shape. In other words, it's still, you know, we've still got the kind of the same shape But we've got a lot more profit potential We're still going to benefit if the nasdaq moves down It gave us more room it extended our break evens to the upside. So it gave us more room to the upside Uh, and and so that's that's kind of the benefit of rolling. We're we're can you know, we're extending duration We're giving ourselves more time to be right We're still keeping a little bit of a short bias You know, the nasdaqs had just kind of a meteoric run to the upside So we're still looking for a little bit of downside In price to benefit our position But it is it's cut our deltas. It's cut our directional bias down some And and and given us given us more time to be right. So that's the that's the value of rolling. That's that's why we roll Got it So go ahead and uncheck the ones those ones and and check the ones you had unchecked there Uh, okay, this is our other piece kind of similar similar situation We've got two positions on that Obviously, we kind of want the same thing to happen with both down moving price some theta to come out of those options and Continue to wait to try to get our money back. The nasdaqs still owes us money. Yeah, they're taking taking a sweet time to give it back Hey, as long as we can get it back and you know, we learned something in the process about how to How to to roll and move stuff around like we need to Yeah, you know, we're we're We're really close to getting back to profits in nasdaq and then it continued higher and you know, I mean this is just This is just trading. I mean, you don't you don't ever know where the market's going to go That's why directional traders have such a much lower probability of success We're still a lot money overall But you know, I'm hoping to you know, I know you're hoping that we we booked some more profits before the time runs out for our little Three-month coaching session. We've got a little over a month left Which is you know a decent amount of time We really just need a little bit down movement in in stocks Specifically in the nasdaq and that's gonna that's gonna help us out. So hopefully hopefully we get that Yeah, hopefully, uh, I know that the you know markets in general are normally up Um, you know going into the the end of fourth quarter with uh with christmas and everything so it should be interesting to see what happens Yeah, there's the old uh, kind of the old notion that there's a a santa claus rally, but That doesn't always happen. So you just you just gotta play the probabilities and and let the probabilities play out Yeah, we'll see we'll see what happens Well, sounds good. Well, we will sign off from here and check back in next time. We need to add Close or just a position Have a great day matt. We'll talk to you soon. All right. Take it easy man. Talk to you later