 Hey everyone welcome to this week's video update today's Friday August 28th. Hope everybody had a great week of trading We're gonna talk about the alerts. We're gonna talk about all our current positions And of course, we'll talk about our day trading. So let's start with that As you all know who have been in the room just go to your live stream room in The membership area We've been using zoom so I just post a new zoom link here with the meeting ID and passcode So that's how you get into the live stream room each morning For those of you who aren't where we also have this schedule down below. So we will be Trading live each morning Every day next week. So look forward to that. We've been having a lot of fun I'm enjoying it starting to hit my stride being able to trade and talk and answer questions at the same time So it's been cool. So thanks for everybody who's been attending and then don't forget down below the calendar are the archived Streams so we've got you know, it'll show today's is the most recent one Then you have a drop-down right here. We can go back and look at all the other Streams that we've we've done as well. So it's just the raw recording So you're gonna see a little bit of a delay at the beginning just for the first 30 seconds And then you'll be into the into the stream So hopefully that helps and I look forward to seeing you all in the stream on Monday morning All right, so let's talk about the markets. I mean this s&p. These markets are just Absolutely insane on the upside. I mean, this is yet. This is spx. I Mean just for the last month and we've had we've had three down days in the last month That is crazy all-time highs Just continuing to escalate now. What's interesting is this week. We actually even with the markets going up We were we're seeing implied volatility Continue to expand now at the end of the day this afternoon implied volatility actually did make a decent Contraction but even earlier today this implied volatility was up in the 60s on the IV percentile And same thing with VIX. I mean if we look at the VIX futures now We did have the roll that happened earlier this week to the new contract But but even with the markets up the VIX has been going up. That means people are nervous people are buying puts people are buying volatility Because they're nervous about this market going up So you don't see too often where the markets up and the VIX is up But that's what we've been we've been seeing in fact. I did a video one of the trade hacker updates earlier this week We talked about that as well S&P's up 21 today Dow up another 159 Nasdaq up 49 Russell up another 10 If we look at gold gold's been just kind of chopping around with some decent size swings back and forth We'll talk about our gold position Been doing some pairs trades on gold and silver. We talked about those in the day trading room those actually Last week worked really well this week not so much just trying to capture the difference between those Bonds moving as well. So when when when bonds had that big flush down and started creep up we we got short bonds I'll talk about our TLT position that worked out nicely on this big drop here Natty gas has been moving up had a little bit of relief today. We'll talk about that so Interesting stuff going on in the markets. Of course, we've got the elections coming up in a couple months The Fed came out with some statements about how they're gonna continue to battle inflation and stimulus. So Keep your keep your methods mechanical stick with stick with your stick with your mechanics It's it's really important when things start to get wild and you know, I know when the S&P Just grinds higher like this It almost feels like you know and if you have iron condors or Calendars or you know things like that and and your your break evens to up to the upside Keep getting tested and blown through and you start questioning those strategies But but look at what the S&P has done over the last month. I mean, that's not normal, right? So you've got to take that into perspective and and that's why it's so important to to trade multiple Strategies I was talking about this in the community You know or so I can't remember who it was somebody was questioning kind of the weekly double calendar You know, should we should we tweak the strategy? Should we change it because it's just not working the last couple weeks Well, you know when you have a situation like this, you know, of course in hindsight, you wish you would have done something a little bit different It's not gonna it's not gonna perform very well, but that's also why we do iron ducks That's why we have you know other trades on and we're we're continuing to lay in other positions So don't change your strategy just because you have a period that goes like this You know, even if you know go back and look at the back tests that we do in each strategy course and And you'll see there. I mean, they're just periods of drawdown and that's just part of any strategy And that's why I think it's so important not to trade just one strategy. So keep that in mind Let's go through the alerts to start and we'll kind of touch on some of those points again Starting with the 24th on Monday putting on a weekly double calendar and SPX I'll talk about the close of that as we get to it rolling adjusting trade in XLK So this is a long put vertical that we've been holding for short Delta So we went ahead and rolled that out from September to October Adjusted the strikes accordingly. So if we look at XLK You can see it's a little outside the range So it's moved up a little bit since we put that on and again same same story with with your short Delta plays I mean if you're carrying short Delta, you know a run like this that we've seen in the market, you know That's gonna that's gonna be painful on those short Delta positions But that's also why you got to keep a balance of Different trades and you know not keep too much short Delta and right now We're about two to one on our short Delta versus our theta and so, you know I like where we're positioned although we've taken some heat on these on these short positions Xbi did a rolling adjusting trade in Xbi. So we rolled out our strangle, which was actually adjusted. It's a 105 straddle We were over 25% of max profit since our last roll in that piece So we just went ahead and rolled that out. We're getting close to 21 days We actually had 24 days. So we didn't want to wait all the way to 21 We went ahead and rolled that out. So let's take a look at where we're at on Xbi now We're up about a hundred and forty dollars since we did that roll. So just continuing to manage that trade Next trade Amazon opened a duck. So we put on a duck in Amazon nice juicy premiums. Ivy percentile is still up at 77 No earnings risk coming into play. So we put on a duck that did this one with 10 days to expiration Let's take a look at that. We're already at max of beak on our beak profit now Still got a problem, you know a chance that it could come back into the duckhead So we're not ready to close it out yet still got over a 28% chance. It could could potentially come back down So just gonna hold this until we get to a place where it's you know, once it gets down to about a 10 or 15% Probability, you know, we may just book that beak profit and move on if price stays here goes higher But always a chance that it could come down So that is Amazon Next trade rolling adjusting trade in SMH. So we got a short strangle in SMH roll this We're down to 23 days to expiration rolled it out to 51 So if we take a look at SMH here Pretty close to where we rolled it price is pretty well centered nothing to do here, but wait Next trade Tesla's we had an iron duck in Tesla price ran higher If you haven't noticed Tesla has been going up every single day So we booked a booked a beak profit in Tesla. Let's take a look at a chart of Tesla T. S. L. A. And Yeah, I mean this thing's been on a rampage now. Remember Monday is the 31st and Monday is when they do their five for one stock split So if you have shares of Tesla, you're gonna have five times as many in your account After the 31st now, I can't I think it's I think it's after the 31st So when you wake up on the first of the month is when you'll see that if I'm not mistaken. So but look at this I mean look at this just parabolic move Pause parabolic move. I mean Tesla's at twenty three hundred dollars. We talked about this a couple weeks ago, but If we look at it a yearly chart, I mean just back in March after we saw the downside of the current Tesla was at three hundred and twenty dollars three hundred and what it hit a low of it a low of 350 is that right? Yeah about three hundred and fifty dollars. Now. It's at twenty three hundred dollars Unfreaking believable. So Elon is getting paid But anyway, we closed that out booked a profit in Tesla SPY another iron duck this one We just let expire we couldn't we couldn't close it out for a big profit early So we went ahead and just let it expire and booked beak profit on that one Gold closing adjusting trading gold. So we've been playing a little ping-pong action with our gold trades. Let's take a look we had a Two different iron condors one had one contract one had two these are in the same cycle But this is the one that we so we closed out the call vertical. Let me make sure here Yeah, close out the call vertical side on this one. So still holding the put vertical side now gold was up 2% today So price was out of range here We closed out the put vertical side and then price came all the way back into range if price makes a little bit more of a move higher And we can book, you know 30 40% of our original iron condor That's what we'll do and then our other piece. We've got the opposite side. So we took off the put vertical side We're still holding this call vertical side as you see here price is just outside the range So if we get a move back inside then we could potentially close that and it you know It's possible if price keeps moving around in gold like it has You know just up and down and up and down, you know, it's a possible, you know, we could book We could book profits in both of those now We've got 27 days left to expiration So if we close out one of those halves, we will most likely come back in and Add a new full iron condor, which you know, so the next cycle is now at 60 days to expiration So we're in our wheelhouse to potentially add some new trades. If we look at the implied volatility I'm gonna look at GLD to get an accurate reading The I mean these are still nice and juiced up premiums We've got IV percentile of 72 so wouldn't mind selling some more premium in gold Next trade TLT so we closed out our long put so I actually just did these as one trade So I we added one I talked about we'd probably add another of price continued higher That's what happened. So we added another one, but I kept it just as one trade So that's why you see on this first close of the 170 puts We classified that as a closing adjusting trade and then the next one was the closing trade because we closed out completely So if we look at TLT, I showed you a chart of bonds, but let's just actually go to the TLT chart So as you know, I think it was right here We added our first put in TLT and then it climbed a little bit higher So we added another one and then this thing just collapsed and that's exactly what we were looking for And we you know, we wanted to basically break the lows here this recent low And so we got out somewhere around in here So great trade in TLT booked like 550 bucks on that one. I think something like that. So good trade there IWM opening trade. So we added a little bit more short Delta and IWM on this climb in the market So let's take a look at IWM. We've got we've got several positions here And it's definitely been the weakest of the indices overall Here's the bunker that we just put on pretty close to where we put it on nothing nothing changed there We do have another bunker And and prices down a little bit but again some still some Good downside action if we can ever get this market to move down again And then we've also got a couple of long put verticals here This one if we get a little bit of a move lower, we'll book that or Or roll that one out and and book that that profit there And then the other one is right here. So price just inside the range So got a decent amount of short Delta in IWM. So would love to see some downside action next week there Next piece SPX weekly double calendar. So we added a another weekly double calendar So we had two at this point and I'll get to the closes here. Oh, I'm sorry This is the one that we added for next week with 8 and 12 days So let's take a look at that That's the one we already closed out Here's the one that we currently have And you can see it's pretty well centered were up about 90 bucks since we put it on but just waiting till next week closer to expiration before we before we close that out Interesting stuff with with implied volatility. So Thursday and Friday. So all day Thursday when the market was up The VIX was up too. I already mentioned this and then Friday this morning the markets were up and VIX was up and so the the Expiration the tent of these was was much higher now it contracted in the afternoon But that's why I was that's why I ended up holding one of these until Friday That expired this week because I mean that implied volatility was was cruising our our tents were expanding So if we would have just gotten a little bit of a down move in SPX, which I was hoping for we could have booked profits in those but Unfortunately, you know late in the afternoon it did contract We went ahead and just just bailed but I was really looking for a potential downside with the implied volatility spiking like it was and I still expect to see some a little bit of downside next week or at least some two-sided action And then a closing trade so it closed out another duck This one we got filled at 102 so we booked a little under beak profit instead of just holding it for another week We went ahead and just close that out Booked basically beak profit on that one A closing trade in SPX so this was the one that we closed on Thursday. Just took a tiny loss on that one and Then in SPY opened another duck today So let's take a look at all our positions in SPY Let's start with the most Closest expiration here. So this one. Let me set my price slices and move it over here So, you know, this is getting to a point where we've got about a 17% chance that this will get back into the duck head So pretty pretty low probability. This one expires on the 10th So, you know got about by Monday. We'll have about 10 days And so this one if price stays right here, we'll probably just close that out and book beak profit We're not gonna wait all the way to expiration. Of course if it runs higher same thing if it comes down Drastically well, then that's another story. We'll we'll deal with that. We'll hold it but that's the that's the plan on that one and then This one here If we look at that this one expires on 917 and so this is the one we just put on so You know still 38 plus percent chance that that one could get into the duck head Be nice to hit a duck head, right? I mean it's been a while with this market just driving higher But that's why we have that no risk to the upside Okay, so then this is an iron condor price is hanging out in the upper end of the range if we look at just the put vertical side You will see we've still got a little bit of premium left in that put vertical But if this thing continues much higher, we will close out that put vertical side and and then see if we can get a bounce back So that's the plan in SPY Ulta so we opened a trade today in Ulta We were actually talking about this in the live stream room this morning where Ulta opened up significantly above It's it's expected move and Then it started pulling back and so we just we just waited first of all the the options were crazy wide in here I mean we're talking I went ahead and did this in the 14 days But I was even looking at the 21-day options when I was looking at the 21-day options I mean these things were four or five dollars wide I mean it was just untradable and you know the open interest not not huge either I Ended up putting this on later in With the 14-day options Where the open interest still isn't great, but the the bid ask spreads Started to tighten up where when we put this on they were they were less than a dollar fifty cents that kind of thing on A $200 stock not too shabby So we went and I got filled right away. So the liquidity The ease of getting filled wasn't too bad here. So we've got this post earnings short put vertical on and we we got this on Price was well, let's look at our analyze tab So you can see we've we're up about 50 bucks on the trade right now So we got in when when price was was way down here Which is good and applied volatility continued to contract a little bit I didn't do a long call on this one just because I mean it's 240 dollar stocks You'd be looking at a couple thousand dollars per so instead we did the short put vertical just like we teach in the course And so now we're looking for a grind or move higher You know steady to higher prices to benefit this and we'll take this off if we get to you know over 50% of max profit Because this is a short-term vertical this theta will start to decay And if we get a move in our direction, it'll start to decay even quicker. So that's the plan in Ulta Oh question I always get here also if if it starts to go against us I mean I wouldn't even be opposed to adding to this if price does get down to here of where it closed Before earnings because a lot of times what you'll see if you do have a big gap like that Sometimes it'll just take off which is more normal But in a situation like this if it does come down to this level here We could consider adding to it adding another one, but we'll see where we're at with everything at that point Or you can just hold this one, but I mean we're doing this as defined risk, right? So, you know if you put on a defined risk trade you almost need to go into that thinking Okay, if I take a max loss, I'm am I am I okay with that in position size that way accordingly? So that's the plan in Ulta Next trade SPX so that was our closing trade in SPX today again price I was hoping for just a little move lower and we didn't get it So we went ahead and just close that one out took a loss on that one. So that's our last trade In in for the alerts. Let's take a look at some of our other positions got a couple of Short Delta plays in ES which of course are not doing well with this grind higher that one's at a range And this one is at a range as well. So need some downside action to get back in These are at 21 days to expiration now We we give these defined risk more time So we're not gonna just roll them just because we're at 21 days to expiration But it doesn't mean we'll wait all the way to expiration week either So we'll we'll be monitoring those and and we want to get back to positive theta as quickly as possible But we also don't want to over adjust if we do get a sharp move lower. I mentioned gold Natty gas Natty gas down a couple percent today, which was was nice We need some downside action in Natty gas prices out of out of our range But if we look at our untested side the puts we still got a little bit Let me zoom in here for you Still got a decent amount of premium left in those put So we're not quite ready to roll those up yet, but if price does continue higher in that gas We will roll those up if we look at the chart. You see a pretty pretty bullish Move that we've seen in that gas Bonds obviously we talked about the TLT position We took some nice profits in but this is also this is our short strangle in bonds Which is has been adjusted and so prices hanging out right here If we look at just the untested side the calls you can see we've got a little bit of premium left to go here So if does price does continue lower, we will roll those calls down, but nothing to do here at this point Apple we've got a long put vertical in Apple which is busted out of the range with Apple strength holding this for that short delta exposure So we will we'll look to potentially roll that If price continues higher Amazon I mentioned our duck John Deere kind of the same situation as Apple. I was looking at potentially rolling this one today One thing I wanted to point out in John Deere. So we're at 21 days here. I was gonna roll out to October one One issue is we're currently in five point wide strike So if we do roll out we'll be looking at ten point wide strikes because we'd be looking at these ones here They get down to five point wide strikes as you go lower But the ones that we would roll to are ten points wide so we can do a couple things we can either We've got two contracts so we can either do one of two things We can roll and and use two contracts and just go to a ten point wide But that's going to increase our buying power that's going to increase our our overall position size because it's ten point wide Wide strikes instead of five or if we roll we could just roll and and shed one contract And that would keep kind of a similar amount of risk similar amount of buying power And roll out to the next so we'll look at doing that next week We'll obviously send the alert and kind of explain that in the comments DIA Got some short Delta here. We've got a couple of sets of short call verticals out of the range there and Just barely out of the range on that one. So looking for some downside in DIA. I mentioned IWM Cues kind of a similar situation. We got a couple sets of short call verticals that are taking some heat and Then we've got a bunker trade in cues. I'd also like to add another Bunker in the cues next week if price continues higher I've been talking about this. I think if this thing this market really turns down I think it's got to be led by tech tech seems unstoppable now, but trust me when when this When this turns tech is going to probably lead the way down. So it may look at adding another bunker in the cues Let's see what else we got X B. I mentioned an XLK. So that's it. We've talked about all of them So those are all of our positions. Those are all of our alerts. Oh, it's gonna I got a little bit more to talk about on the day trading front So let's go to so I'm gonna have a better way of kind of displaying our Tracking of our day trades by next week. I've been working on working on something here with one of our members, but So weekly total of 168 dollars, that's our grand total on day trading So not not as good as last week when we booked over 4,500 but still green nonetheless our mighty 90 trades Ended up about minus 325 on the week and then I don't have the details on the pairs trade I didn't have time to prepare them and I have to run but well, like I said next week We're gonna have a little bit more Detail and it's gonna break it down by strategy And so it'll be nice and clean and neat and just how you guys like it. Hopefully so That's the plan there and then we also have been been doing we've been talking about this in the live stream So if you haven't been in the live stream Make sure you're there because you're getting kind of a sneak peek into some of our well our pairs trading But then also testing what we're calling runners Which is more of a kind of a continuation play on on some of these some of these stocks that have just been Monsters to the upside and we'll use them to the downside too if we if we get to a point where the where we get into a bearish type market, but These have been working really well And we're trying it. We're just kind of putting some skin in the game I you know the best way to learn how to trade is to actually put some skin in the game now paper trading You always want to start and just like we teach in the day trading class You know we're talking about 100 day trades With paper trading before you trade with real money and I still advocate that but I also Advocate staying super small and actually having some skin in the game when you first start out So that you pay attention and that's that's exactly what we're doing with these runners We've got a good feel for for how to trade them But there's some criteria that we're still kind of working out on our exits both on Closing a profitable trade as well as closing Trades that go against us. So that's a little bit of a work in process progress But you know once we kind of get it down Then we'll put some definite criteria to it and push it out to everybody in the form of a more formal presentation But if you're in the live stream room, you're gonna be seeing a CNS doing this live testing live And so that's what we've been doing. So we're including those numbers in the P&L because that's real money being traded But we'll have this broken down. So you have a better idea of of the performance of mighty 90 versus pairs trades versus runners and and some of the though there's at least one more day trading strategy that we'll be coming out with here here very soon. So That's all I got for you. Hope everybody has a fantastic weekend Monday morning 8 30 a.m. In the live stream room look forward to seeing you a bunch of you there and If not have a great weekend. We'll talk to you soon