 Hey Friday trade hackers, today's March 5th. Welcome to this weekend's video update for pro members. Time of this recording, still got about 50 minutes left until the end of the session. So let's talk about the markets. We'll give you a quick update on the day trading results and then we will jump into the alerts and our current portfolio. So to start with in the markets, I mean, look at the S&P. I mean, it has rallied, a massive rally back. Overnight, the S&P was down as much as over 30. Now it's up 65, pretty crazy stuff. We're seeing in both directions here. And so if you look at, you know, just again, to give you a little perspective, year to date with SPX, you know, it was up as much as 6.5% got down to basically flat on the year at the peak at the bottom of yesterday and the bottom of today. And so that's a, you know, that's a healthy pullback. I mean, we're talking 6.5%, 7% and a little bit more in the NASDAQ, I think it was about 10% in the NASDAQ. NASDAQ goes up about nine-ish, 9-ish percent at its peak year to date and dropped all the way down to minus four. You know, so that's a 13% drop. And so that's not, obviously doesn't happen all the time, but you know, 10% pullback, a little mini 10% correction in the market is not abnormal. I mean, that's something that we definitely see a couple times a year on average. And so the question is, is there more in the tank to the downside or is this puppy done bleeding and it's back to new all-time highs? Obviously that's the magic question nobody knows. What I would say is if we get a little bounce on Monday, I'm gonna be adding a little bit of short delta for a potential continuation lower. So right now where we're at in our portfolio, we've got just a little bit of short delta. And I mean, we're not even one-to-one on a ratio. So we're basically delta neutral. And so we're actually doing pretty well today on this bounce. And so I would like to add a little bit of short delta, but I'm gonna see if this thing wants to bounce a little bit more. I'm gonna pick something like I may just do it in the NASDAQ, in the cues, or I may pick a NASDAQ-related type stock that's a little bit even weaker than the overall market and we'll do some, I'm not gonna go bunker. I don't think we're in crash mode. I don't think we're gonna see this level again, but maybe do some long put diagonals and some other short delta plays that can benefit from a little bit of downside action. So that's the plan. Let's jump into the alerts and go over what we did for the week. So starting with Monday, let me pull up the alerts. Starting with Monday, the first trade was an expiration trade in eBay. So we had a post earnings long call on in eBay. And obviously with the market falling apart, some of those long positions that we had got smoked out a little bit. But that's also the reason that we carry short delta. To give you a little perspective, I'll show you some of the, we got smoked out of a couple iron ducks. We got smoked out of a couple of our long calls, in this case a long call and a couple of our long call diagonals. But the reality is our portfolio is pretty break even on the week. I think we're down like $400 on the week from where we started the week. So that has to do with carrying that short delta, which will, as we go through the portfolio, you'll see a lot of our short call verticals, long put verticals, and some of our other short bias plays. So it's critical to have that balance. And it's okay to make an assumption too. It's okay to say, I wanna be a little bit long this market. I wanna be a little bit short this market, as long as you understand where your portfolio deltas are. We preferred the position the market was in. Starting a couple of weeks ago, we preferred to be about one to one, two to one on our short delta versus our theta ratio. And as this market flushed down, that short delta helped. We did get smoked out of some long positions, but we're balanced. Our overall account portfolio is pretty, it's definitely not hurt. It's pretty similar to where it was. So it's a little frustrating when you're just getting kind of chopped around and your portfolio is not gaining. But at the same time, if you can withstand big flushes in the market, like we've seen here, and not lose anything. And then as it starts to kind of rebound, and you start to build in additional positions, selling theta, selling premium, adding in new directional positions in both directions, kind of start to play that ping pong and get back to growing the account. So that's the plan. So that eBay, post earnings long call got, we just let that expire. And then eBay, this was the other part of it. So we had two pieces and we just closed that one out for 20 cents, took a loss on that one. SMH, actually, let me just show you a chart of eBay here real quick just to kind of make sure you understand what was happening. So in eBay, this is a case where price opened up above the expected move. And the expected move is indicated by this red line right here. So price opened up here after earnings. We got in for a potential continuation higher, which is the normal course of price at that point, came down, it bounced right off here. We added to it and it bounced up. We booked some profits on part of it. And then this thing kept holding, holding, holding, holding, and it started to bounce. And then that's when the rest of the market just fell apart and eBay obviously went with it. So we got smoked out of some, booked a little bit of profits and got smoked out of some of it. So that was eBay, SMH, we did a rolling adjusting trade in SMH. So this is the short strangle that we've been carrying for a while, just kind of adjusting and rolling and continuing to manage it. So if we take a look at SMH, rolled that out to the next cycle. Take a look at our analyze tab, you can see prices, we're up about $690 on this trade since our last adjustment. We rolled this out to April and then rolled down our call. So it was even with the puts we've got basically a 235 straddle. And so we're just looking to collect that theta and hopefully price stays in range. SMH was actually really high, it was way up here and this flush has actually brought us right back to center, which is nice here. And we're seeing a good bounce here today, a good contraction implied volatility, which is helping that position as well. Next trade, opening trade in SPX. So we did a weekly double calendar. We already had one on, we added this one on Monday. So I'll go over those closing trades here momentarily. In Zoom, we opened up an earnings iron duck. Now this one, holy moly, this thing, Zoom after earnings was up, I think nine or 10% at one point. Let me show you a chart, I'll show you what I'm talking about. In Zoom, yeah, so price closed here right before earnings opened up. This was about a 9% move higher, not quite as expected move, but it was up nine or 10% and then boom, this thing just came flushing down, which was cool because then it was right in our duckhead. So I thought, okay, maybe we got a chance to book a duckhead on this earnings duck. And then next thing you know, whoosh, whoosh, this thing just flushed us out. So we had, we, you know, we got to our exit point. We had a bail and unfortunately took a loss on that one, but you know, we're just, we're in a market. I mean, going back to the, you know, looking at the, looking at the NASDAQ, I mean, that those are big moves these last couple of weeks, you know, outside the expected range, you know, when you're seeing expected moves on a daily on a, not a daily necessarily, but a weekly basis, monthly basis, where the move is inside the expected move, about, you know, 70 to 80% of the time, 20% of the time you're going to see moves like this. And so that's what, that's what we're dealing with this week. All right, so that was Zoom Zoom. Next trade, that was the closing trade in Zoom. So I had a bail on that. ES opening trade. So we opened up an iron duck in the S&P futures. The reason I did this is there's been some discussion in the community. Some folks are liking doing these iron ducks on some of these futures, like ES and so, let me show you ES. So in the S&P, we put this on and these work just as well. So just to give you an idea, the size of ES is five times larger than spy, but it's half the size of SPX. Okay, so a lot of these we do in SPX. If you want to do something a little bit smaller, you can do it in ES, which is about half the size. So we ended up doing two contracts. So it'd be the same size as doing one contract in SPX. You can see prices just hanging out here pretty close where we put it on no profit or loss at this point after all this, you know, back and forth in the market. So we're right here. But the one thing to make sure you understand about futures is A, understand how to handle them during expiration. We have a whole series on these in the iron duck course. And then B, just understand that the commission to trade futures is higher. And so that's primarily why we don't trade as many futures on these, but ES is so liquid and it's certainly a good vehicle to trade it, especially if you like the whole aspect of futures. And, you know, if you look at it from a standpoint of spy, you know, if you're to do one ES, you've got to do five contracts and spy to get there. So if you look at it from that perspective, the commission is not that big of an issue. If you're comparing it to SPX, it's a little bit bigger of an issue. So just FYI, all good here. We probably won't do too many of these in the futures, but wanted to put one on just to show people how we manage it and just to kind of keep that conversation flowing. So that is ES. Next trade, Lowe's. So we put on a long put diagonal in Lowe's. Reason we did this is one, we're trying to add a little bit of short delta on the bounce and B, Lowe's, Home Depot, Lazy Boy, a bunch of home decor, home restoration, home renovation, home builder type companies have come out and talked about in their earnings announcement that they are looking at potential slowdown in 2021. In fact, most of them aren't even giving guidance on their projections for 2021. And so some of the stocks are starting to get hit and compared to the rest of the market, the stock was fairly weak as well. So if we take a look at Lowe's, let's take a look at the chart first. I'll show you kind of what we were looking at. So it already had that big flush right after earnings. It bounced up. We got short right here, looking for a potential continuation. We got that. And in fact, we took off, I'll get to the alert here in a second, but we actually had four contracts. We took off half as it was up here and we're leaving the other piece on to see if we get any more, another down flush. So we already booked near 100% profit on two of the contracts and we're just holding this and we're up about, let's see, we've got $174 in risk. We're up about 80. So what is that? Little less than 50% profit on these last two as prices bounced up. If we do get another flush, hopefully we can book another 100% plus on those two. We'll see what happens. Next trade, Lyft. So this is a post earnings long call that we did in Lyft. Booked a nice profit on this one. This one was, let me show you a chart of Lyft and what happened here. Lyft came out and said that they, earnings was way back here. So price opened above the expected move, immediately came down, but it was still holding above the previous level of pre-earning. So I'm okay holding that, kept bouncing, coming down, bouncing, coming down, holding. And then they came out and announced that something about they had the largest amount of ride hailing since the pandemic stock shot up about 9%. So we just closed it out and booked that profit. And you can see how strong Lyft has been in the wake of this down move in the rest of the market. If we take a look at Uber, hasn't done as well as Lyft. So that's why it pays to not just trade one industry. Obviously these, a lot of stocks are correlated in some degree to the indices and to other stocks, but you get a situation like this where we were long Lyft. And even though the market was tanking, we still were able to book a profit with that trade. So good trade there in Lyft. Next trade, DAL Delta Airlines. This is one where we just wanted to add a little bit of directional long Delta. So we did a long call diagonal, had some good price action that we were looking at for a potential entry. And if we look at DAL, now DAL got a little flush out with the rest of the market. We're still holding this. I mean, you can see, it came down to these kind of key price levels here, here is where it came down. It really bounced hard today. So we'll see if we can, see if we can still book a profit on this one. But really when we put this on, what we're looking at is it's had this nice run up. A lot of these travel stocks have been performing very well. Obviously the vaccines coming out, everybody's wanting to get out and travel. They've been cooped up in their houses so long. So a lot of these travel companies are seeing some good gains in their stocks recently. So this had a big push up. So it was just kind of consolidating here. And so we got in at this area here looking for a potential continuation higher. Obviously with the rest of the market flushing it flushed as well. But we'll see, we've got plenty of time on this trade. We've got 14 days until it expires. So may still very well book a profit on it. You can see prices here right here. We're down about $170. So if we get it bounced back up to this area still got a potential to book a profit even within the expected move of the stock between now and expiration. Next trade, Zoom. So that was the closing trade on our Zoom Iron Duck. IWM long put vertical. So this is one of our short delta plays. Just rolled this out from March until out to April. We're over 50% of max profit as the market was coming down. A lot of our short delta plays were getting to the point of being extremely profitable. So in this case, we just rolled it out, adjusted the strikes accordingly. So if you take a look at IWM, you can see we're up another $74 on this trade. Since we did that roll, got a lot more room to the downside in case we do have some continuation to the downside into next week. Next trade, Lowe's. So, oh, so yeah. So this is where we booked almost 100% profit on half that position. I already mentioned that. Roku Iron Duck. So this is one of our Iron Ducks that we got smoked out of on the downturn Roku. Roku got it on the chin pretty good, along with a lot of tech stocks. You can see kind of the massive flush that Roku had. So we had a bail on that one. So, you know, we don't wanna take max loss on that. We have our exit point, which is right near our breakeven. And when it exceeds that, we, you know, that's just our exit point. We got a bail. So we closed out of our Roku Duckie Duck. Baidu closing trade, same thing. Now this wasn't an Iron Duck. This was a skewed Iron Condor, which we put on as kind of a bullish play looking for some, a little bit of a bullish tint in Baidu. If we pull up a chart of Baidu, you know, this is one kind of similar to what I was talking about with Delta Airlines had this, you know, real good strength, just pulling back. You know, I think if the rest of the market wouldn't have fallen apart, then this thing probably would have continued higher, which is what we were anticipating. But obviously it got pulled down with the rest of the market. And so we hit our exit point, which, you know, we were gonna give it to this level here, which is kind of the price peak, the price level of this previous price peak, it came down and just kept going. So we ended up just bailing now today, obviously with everything bouncing, it's bounced right back up to that level. So, you know, who knows, it may continue on, but you can't, you can't trade like that. Otherwise you're gonna be taking max loss on some of these trades and that's not what they are designed to do. So we just bailed on that, took it off, and we'll move on to the next trade. Rut iron duck. So we put on another duck in rut with 12 days as the market was coming down and applied volatility of spiking. Wanted to add some more premium, add some more slightly bullish to with a big buffer to the downside. So in rut, let me go over this one first that we just put on. So we put this on and you can see with today's bounce we're already up about 90 bucks. So it's bounced up the beak. This one actually expires 317. So we still got a chance, if price does flush back down, we still got a good chance that we could come back into the duckhead. So we're gonna leave this one on. And then the one here that I just clicked off of, this is one that expires today. So, you know, we've got about 30 minutes until the market closes. This is at max profit. And so we're just gonna let this one expire. So by the time you're watching this, you will have received an expiration trade alert saying that we booked a duckhead of about 660 bucks. So with these cash settled indices, I don't have any problem letting these expire, especially if it's just dead centered right here. No reason to waste any commission. If you are trading on toss, the assignment exercise fees are zero. So you'll kind of skip out on having to pay the commission to close this if you let it expire. The risk is obviously after the market closes, the market makers do have the ability to fill orders outside of the closing price. And so if this thing spiked up and somehow got here, we may only be a book big profit or if it spiked down, you know, we could end up being a losing trade, but it's very highly unlikely that that would happen. I mean, this is expiration here. And so with something like this, I'm okay just letting it expire. And there's no risk of assignment because these European options settle to cash. So that's the plan there. Next trade closing trade in SPX. So we had two weekly double calendars in SPX. In this one, this is the one that we just put on Monday with the flushed down price moved near our exit point. So we just needed to close it. So we closed out that one and held the other one until today, which is Friday. And this is this one here. And so we closed this out, booked a nice profit, $13. I think we bought this for $8.95, sold it for $13. So a nice profit there of, what is that, over 400 bucks? Yeah, 405 is what we booked on that one. Then ES, long put vertical. So this is one of our short delta plays. We went ahead and rolled this one. Rolled this one is already at 42 days to expiration. So had a ton of time on it, but with that flushed down in the market, we were over 50% of max profit. And so we just rolled, we wanted to roll our strikes down, excuse me, from there down to those. And then, and we just adjusted cycle. So we put it a little bit further out in duration. With ES, the weeklies are so liquid that that is a viable option. So if we take a look at ES, you can see now with a bounce that we've had today. I mean, this thing has already started out right here and it's already bounced out of our range with this massive bounce that we're seeing in stocks today. But we still, if this thing does turn around, we've got a lot of room to the downside. Next alert and not quite done. Okay, so Roku, we had a long call diagonal that we had put on as just kind of a directional play. That one expired today. So we just closed out of that, ended up taking a loss there. GS, so we put on a new long call diagonal trade today. As the market's coming down, wanted to add a little bit of directional movements. Banks have been extremely strong. And so we put one on Goldman Sachs. It was down quite a bit more. You can see price is pretty close to where we put it on if you look at a chart here. So it's the same kind of thing. I mean, look at this chart. I mean, it's just really bullish little pullbacks here. So on this little pullback, wanted to get long and see if we get a continuation up. In this case, we're risking $435 on this. So pretty small trade. And so we're willing to take full loss on this if Goldman just tanks. Again, we've got other short delta positions that are taking care of that downside. But if Goldman tanks, then we'll end up taking full loss on this. But we have the potential and we'll book profits on this. If it moves still within the expected move, we could book 100% or more if it gets to a certain level and as price moves through time. So that's the plan on GS. Go to the next trade here. ZB, so we did a rolling adjusting trade in ZB. So our ZB short strangle is getting pretty inverted. And when they're that deep in the money, the options get a little bit scarce, a little bit wide. And so we just re-uninverted this thing, if that's a word, into just a normal short strangle with a centered price. And we'll continue to manage this. We were so close to getting out of this one with a profit a few weeks ago and then bonds just flushed down. So we've been forced to kind of continue to manage, roll down our calls, roll out in time. And so we'll just continue to manage this one. I don't mind being short premium in bonds as implied volatility is nice and high. So if we take a look at ZB, here's what that looks like now. Just put this on today. So price is pretty well dead centered. Got a max profit of a little over $1,200 on this. And we'll continue to manage that mechanically as we do as we teach in the course. And then lastly, added another weekly double calendar today in SPX with implied volatility getting crushed. I felt like it might be a good time to enter the days to expiration with the seven and 10 day lined up nicely. And so we put on another weekly double calendar in SPX. That's an iron duck that we have in SPX. This one expires early next week on the ninth. And so if we do get a little bit of a move down, we might be able to book another duck head in SPX. Otherwise we'll take a big profit of $135. But here is the weekly double calendar from the alert I just mentioned. And you can see we're up about 40 bucks already. Just put this on earlier today. We'll take this off like we always do either one day or zero days to expiration as we get closer to expiration. Price can stay in this range. We'll book a nice profit. Obviously very vegas sensitive. So we would prefer volatility to kind of stay stagnant to higher, but we'll see what happens in that. So those are all the alerts. Let's take a look at some of these other positions. We have an iron condor in gold. Price still hanging out here right well within range in gold. Apple, another one of our short Delta plays. This is a long put vertical. You can see we're up about 40-ish dollars since we did this last roll. Got a lot more downside of this thing. Continues to flush. I mentioned Delta, DE John Deere. This one's well out of range. So we're just, this is another short Delta plays. We'll continue to hold it. I mean, surprisingly, John Deere's been so strong, but we'll see if we get some more downside in the market. If we do, I'm sure John Deere will go with it. Hopefully we can get back into range there. DIA, another short Delta play. This is one that's pretty not too far off from where we put it on up a couple bucks since our last roll. I mentioned GS. I think I mentioned IWM. This is another long put vertical. Yeah, we rolled this one this week. Lowe's QQQ. This is one I was looking to potentially roll today. We're pretty close to 50% of max profit, but with the price movement back up, we're still well within range, about $375 profit since our last roll. So we'll just continue to keep this. It's collecting positive theta as well. That's 668 a day at this point. I mentioned RUD. I mentioned SMH. I mentioned SPX. Twitter. This is another one of our long call verticals. Man, this one had a really nice profit to it. We got in, I think it was right, maybe on this day or this day here, rode it up. I was at the point of getting ready to take at least some of these three contracts, one or two of those contracts off. And then, of course, this thing just got caught in the flush with the rest of the market. But still got a chance to book profits on this. Still got 14 days to expiration, so we'll hold. If we do get a big bounce, then we'll still be able to book profits. And then XLK, another one of our long put verticals. We're up about 286 since our last roll and got some room to the downside for some short delta. So again, with our short delta, we've got very little less than one to one. And I'm okay with that. I think we could see some more downside, so that'll kick in a little bit if we do. If we do bounce a little bit more on Monday, I will probably add some more short delta. Otherwise, if we catch a big bounce, if we get a continuation higher in stocks, then we'll continue to manage that as well. So that's all I got for you. Everybody have a, oh, wait, one more thing. Day trading, I was gonna just give you an update on the day trading. So this week, scratched out a measly $238 of profit but I will take it if you've been following the day trading stuff, which if you want more detail, just go into the Discord, go into the Profits channel. We post updates every day. Thursday was an absolute disaster of a day. Today was a really good day. Booked over $2300 in profits today to get back into the green for the week. But continuing to do well all time since we started tracking end of August over $50,000 in profits. 40 to 1,000 of that is in the runners, about 1,000 bucks in the pairs and 8,300 in mighty 90s. So that's all I got for you. Everybody have a fantastic weekend and we will see you next week.