 What's up everybody? Friday, February 12th. Welcome to this weekend's video update for pro members. Hope everybody had a good week of trading, taking a quick look at the markets before we jump in, taking a look at the S&P 500. Pretty small range all week. I mean, this was the Monday, the eighth, and we didn't move too much. Finally starting to break out again to all-time highs this afternoon. And like I've been saying, I think just in the continued short term, we're gonna continue to see pushes into new all-time highs. And so that is happening. And so it's not that we're not gonna keep any short delta. We still have short delta. In fact, our short delta versus our theta is about two to one, not necessarily because we're super heavy short, but more because we're actually light on positions, light on theta based on these super low implied volatility ranges. We have been taking positions off and haven't really had much of a pop in implied volatility to put to sell any additional premium. So, and we've been adding some bullish trades, which I'll go over, added a couple more bullish trades today. So that's the plan. We're gonna continue to keep a little bit of short delta but continue to buy some dips and add some long delta using some of these diagonal strategies and other directional plays. It's been working well and we'll continue to do some more earnings plays as they present themselves and more ducks and double calendars. I wanted to put on another double calendar in SPX today, but the implied volatility is just not cooperating as far as the setup goes to make it attractive to enter. So not gonna force anything. Gonna continue to stay mechanical and enter trades as we can. One thing you'll notice on my chart here is Tim Weiss actually brought this up. I think it was in his weekly update, looking at the implied volatility in a shorter term timeframe. So you can see here, this is on the 30 day timeframe. So it shows the IV rank and IV percentile looking back just 30 days as opposed to our normal 252 days. I'm not sure quite how we'll use this yet. I know Tim is doing some research as it relates to red. And I just thought it, I used to look at this more often with different timeframes and I hadn't really done it in a while. So I've put this 30 day IV on my chart here. And so I'm just kind of watching it to see how quickly it does react to up and down movements specifically in SPX and then other stocks as well. I'll keep the normal 252 on here and that's gonna be our primary indication for selling premium. But as Tim said, some of these short-term plays when you're only in the trade for a few days to a week, looking at a shorter term implied volatility, percentile implied volatility rank could definitely have some merit. And so Tim's doing some research and we're working with E Delta to kind of check some stuff out there. So I look forward to that in the near future. All right, before we jump into the alerts, just a quick update on the day trading. Had a good week day trading. If you see here on the mighty 90s, we're actually in the red a little bit, about $1,100. $1,193 red on mighty 90s. The Paris trades have been a little bit tricky. Only took a few of those, but minus 661 on the Paris trades. But the runners have been monsters over 4,400. So net net total profit for the week, 20 little over $2,600. And that brings us up over $45,000 since we started tracking on August 31st. So continued to do really well in the day trading. All right, let's jump into the alerts. Starting with Monday the 8th, we added a weekly double calendar. So we had two on at this point. When we added this on Monday, we had four days in the front, eight days in the back. And so we were looking to manage both of those near the end of the week. And I'll just go over this now. So we closed one out on Thursday and booked a little profit. It was kind of close to the break even. The market ripped higher, which I thought it would today. Now it kind of stayed low this morning and then kind of grinded higher this afternoon. But I went ahead and closed one out on Thursday. And then the other one we kept on until Friday. We had about a 250, maybe almost $300 profit came in on Friday morning today and the implied volatility in the back just collapsed and ended up booking a small profit, but not as much. So that tends to happen sometimes on expiration day, but the other side of that can work too, where you can book some significant profits on the last day too. So it's just, it's a little bit of a toss up whether you close those out the day before or the day of. It just depends on the environment that comes in. So that's one of the little discretionary pieces when it comes to these weekly double calendars is when to close that. Anywhere between one and zero days to expiration, both of those backed, in fact, the last day of expiration actually backtests and has voted very well performance wise, but sometimes you do get caught in a little ivy collapse in the last day. And so that's what happened. So still booked a couple of little profits on them. Could have booked a little bit more on one of them. Zoom did opening trade. So we did a long call diagonal. So this is what I was talking about when we opened up here on some of these bullish plays. This is one where Zoom has earnings on three one. And so we're looking for some bullish upside momentum leading into earnings. And so we took the front week of the earnings week and then the back week is the next week, targeting 100% return. You can take very little risk on these. And if you get a move in your direction, you can book upwards of what you're risking. So 100% or more. So that's what we're trying to do in Zoom. So if you take a look at ZM, you can see we're up about a little over $100 on this and we're risking 369. So we're up 25% of our capital risk, of our debit paid already. And so you can see if this thing continues to move higher. 369, 370 is our capital. If we move up here, we're gonna be at 370 bucks. And this is well inside the expected move as well. Obviously depends on how quickly we get there, the longer it takes, the higher that that P&L curve will raise. So the smaller amount of move that we have to make to book that profit. So we will continue to do some more of these that Zoom. Next trade, closing adjusting trade in eBay. So we did a post earnings long call in eBay. eBay is such a low-priced stock that we just bought some in the money calls. It dipped down some more, so we actually bought some more. And so when eBay popped back up, we closed this strike, which was the 58.5 calls, booked over 60% profit on that piece. We're still holding our 60 calls. And let me just pull up a chart of eBay. Give you a little bit more of a visual of what we're doing here. So earnings right here, this is the expected move. Open above the expected move came down a little bit. We bought the calls here. When it came down even more, kind of down to this price level here, this is where we added on that bounce. We closed out the ones we added for 60% profit. We're still holding the other ones. It's come back down here. And so we're still holding those. And then today it's been holding this price level. It's been holding this expected move level really well. So we bought some more. A, wanted to get some more long delta on, just for our overall portfolio. And B, it's been holding this level so well, looking for a push back up above the highs after the earnings announcement. And so if we take a look at eBay, here's the original ones that we had, that we originally bought right after earnings. We're down about 280 on that. And then remember, we already booked profits on the 58.5, and then we bought some more 60, but we did this with a little bit more duration. These expire next week. These expire in 14 days. So I gave us a little bit more duration. And these ones we just added today are up about $100 or 20% from where we bought them this morning. So hopefully we get some little bit more upside action in eBay. SPY closing trade, did a vertigo here. Just booked a small profit, I guess not a small. I mean, we're targeting 200. I think we booked 180 or 200. I think it's something like that. Anyway, price was, the P&L was kind of starting to sag and price was up here with a nice profit. So I didn't wanna see price just move down a little bit and take away our gain. So we went ahead and just closed that out, took our money and ran. Airbnb, long call diagonal. Another one of these bullish plays going into earnings. Actually, let me go back here. Did this with 17 in the front week, 24 in the back and earnings on 225 after market close. So that's why we chose the strikes that we did. We have that earnings cycle in the front week. And so we wanna close this before earnings on 225. So if we look at Airbnb, Airbnb has been strong. And Airbnb is a newer stock too, right? So there's a lot of kind of talk, a lot of momentum behind Airbnb. So it's another reason why we wanted to jump in the stock. I think we'll get some good. It's right under its all-time highs since it IPO'd. So it wouldn't be surprising if this thing just keeps pushing, pushing, pushing into the earnings announcement. We're not gonna hold this through earnings because then a lot of stuff can happen, but there is a good, a lot of bullish momentum going into these earnings plays. And so we did this, another one of these diagonals. And this one just risking about 250 bucks. And if it pushes up here, and obviously as time passes, P&L Alliance is gonna move up. And again, on these we're looking to book at least 100% profit. Obviously it can go up and we may not book that much, but it gets close to earnings. We'll still be booking something in that neighborhood. So that's the plan in Airbnb. Tesla opened an iron duck in Tesla. I did this one 17 days to expiration. Tesla has come down since then, but we're still in good shape just barely inside the duck head. So if it, you know, my favorite kind of duck is when it just kind of stays right in this area, right until expiration and swoops into the head. But we'll see what happens. We got a max profit on this one of 615. If it rips higher, we've got a beak profit of 115. You can see Tesla has finally seen a little bit of downside, a little bit of two-sided action. And so hopefully it doesn't go too deep, but we've got a big buffer to the downside. And of course, no risk if this thing rips higher. Next tray, lift, post earnings, long call. So again, adding a bullish play here. This was in lift. They opened above the expected move after earnings. So cheap stocks. We just bought some deep in the money calls. Targeting 50% profit on this. So let's take a look at a chart of lift. So as you can see, price opened above the expected move, which is this red line here. Did push lower after we bought these calls, came right down to the peak of this price level. And I was even considering buying more down here, but I thought, you know what, I'm just gonna hold this. I don't wanna load up on something like a lift. This is really just meant to be kind of a small play. And so I did buy any extra, but it did bounce. And so we'll see if we get a continuation backup above the highs in lift. Opening trade in SPX, so added a duck in SPX. Did this one with 14 days to expiration? Let's take a look at SPX. See this thing's already moved up the peak here. This is expiration of 225, 225. Yeah, let's put the price slice at break even. Well, probably on today. I'm not, yeah, the market's closed. Something's a little off. This is not a 100% probability of success, but it's about 85 to 90 at this point. So again, if it rips higher, no risk. We'll book profits, got a little, got a big room, big buffer to the downside to potentially book max profit still. Zoom closing trade. So we had a double diagonal trade on in Zoom that we put on after they announced earnings. No, excuse me, on Zoom. Let's see, when is Zoom's earnings? Zoom has earnings upcoming. So we had a double diagonal on that did not participate. It was before the earnings announcement. When we put it on, it had a good, nice IV skew. And then came in nicely and we booked a profit. We only had one day to expiration. So it was just one of those we'd get down to one day or zero days to expiration, needed to exit. So close that out, booked a nice profit. SPY vertigo. So we opened a new spy vertigo. So we take a look at that. See, it's pretty well centered. So I wanted to, so Chris, one of our members in our community asked a question. I told them I'd touch on this in the weekly update here. So let me do this. Let me just, let me go through and set up a new vertigo. So let's just first look at like the seven day options for example. Well, we know that the skew inputs is that puts trade richer than calls, right? So if price is trading at 392 and a half, so let's go to 396, you know, these puts are trading at a, these calls are trading at a buck 20, where if we go the same distance, so that's one, two, three, four. So if we go, so if we go one, two, three, four, if we go one, two, three, four, you can see the call, the puts in this case are trading not as rich as the calls. So the calls are trading a little bit richer than the puts. Did I do that right? From 393, one, two, three, four. A buck 22, one, two, three, four. Okay. So yeah, the puts are, yeah, I'm sorry, I was one strike off. I was like, well, that's interesting. That's not where I was going with this, but so yeah, and it's not very much right now, but the puts are trading a little bit richer than the calls, which is normal when you go equal distance away. So what happens is when you, when you set this up, now it's not, it's a little bit more equal right now, but if you look at, you know, just if we set our slices on the break even here of this vertigo, you can see the skew of this profit line goes a little bit this way, right? Because of the skew of the puts being a little bit richer. So when we started this, we started with our price over here on the edge. And the reason we did that is because that, the bell curve or the balance of this P&L line, it gave us the opportunity to start our price a little bit more centered on that. So it wasn't centered in the peak of our valley. We started it with price centered in the peak of the bell curve of the P&L line. So hopefully that makes sense. And the reason we did that is because if we, if we start this here, if price moves lower, we're automatically kind of going to be starting to get into our sag right away. Now implied volatility with the up move today has kind of gotten crushed a little bit. So we're down even though we're centered, but it kind of just helps with centering that on your P&L line. And it's not always right in the center of your valley. So hopefully that makes sense. SPX closing trade. So this is that weekly double calendar that we closed on Thursday. eBay, this was the opening where we added more long calls into that post earnings trade. About some more calls. DKNG, I think I already went over this one, did I? Maybe not. DKNG added another long call diagonal. So this one we're risking 336, trying to book 100% of that. So again, if it moves up in here well within the expected move, we're doing this as a pre earnings play. So looking for some upside momentum into earnings. DKNG has been very bullish and it's had this pullback. So we're just trying to get long on this pullback. I think we've got long today. We've already got a little bounce and ride some bullish momentum into earnings. So that's the play there. SPX closing trade. So this is the weekly double calendar that we closed today on Friday for a little profit. We also rolled what was originally an iron condor. Rolled it as a short call vertical. Rolled that out from Feb to March. Just to keep that short delta exposure in our portfolio. We did the same thing with XLK. Just rolled this. This was a long put vertical. Rolled that from Feb to March to keep that short delta. And I'll go over these when I get back to the platform. And then lastly, opening trade in Amazon. So we put on the duck in Amazon with 14 days to expiration. So let's take a look at that one first, Amazon. So Amazon has seen a little bit of downsides. So we figured the implied volatility is a little bit more elevated than that of RUT or SPX or some of the other indices. And so we put on a duck in Amazon. You can see it's already up about 50 bucks, way up the beak here. The one thing about with implied volatility this low, you'll notice that the probability is a little bit less. When we put this on, it was actually a little bit under 80. Now, Amazon's popped up. So the probability of profit's 82. We like to put these on with over 85%. But sometimes you got to work with the best thing on the board. So that's why we did Amazon here. And it's a big stock. It works well for ducks. So those are all the alerts. Let's take a look at some of these other positions. ES, we've got several verticals that we're going to be rolling that are expiring next week. Rolled a couple today in QQQ and XLK. We'll roll a couple more early next week. This is one in ES. You can see it's out of range. Looking for a little bit of downside to get back into range. But we'll roll this into the next week. Natural gas, we've got this short strangle dead centered. We're up about 419 since we did our last roll. If we get up another couple hundred dollars, we will be profitable on our net gas trade overall since all adjustments. So hopefully the price can stay in a decent range here. We can book profits in netty gas. Bonds slid a little bit today. You can see they slid out of range. If we take a look at the untested side, you can see we still have some decent premium left in there. So I'm not looking to roll those calls down yet. But hoping for a bounce. I mean, bonds have just been super, super weak. Just sliding, sliding, sliding. If we look at the continuous contract of bonds to get a little bit bigger picture, I mean, look how embarrassed these things have been. They just keep sliding, sliding, sliding ever since, really in March. So just been on a real slide. So hopefully we can get a little bounce in bonds to get back to center. And if so, we'll be able to book some profits in bonds as well. Apple, this is another one of our long put verticals, one of our short delta plays that we need to come down a little bit, but we'll roll this next week. Airbnb, I showed you that one. Amazon, I just showed you that. John Deere, another one of our short delta plays that we'll need to roll next week. This one's still in Feb. So I just like to roll, I like to spread out these roles. I don't want to do them all in one day. So we did IWM earlier this week, did QQQ and XLK today. We'll do John Deere and Apple and DIA. Into next week before expiration. So I'll kind of in similar positions here. eBay, I mentioned IWM. You know, this one we just rolled earlier this week, still right inside of range here. Lyft, I mentioned QQQ. We rolled that today. SMH, this is a short strangle that we've adjusted. Price is kind of hanging out here in the upper end of the range. If we take a look at the puts or the intestine side, still got a lot of premium in there. So I'm not looking to roll those up yet. SPX, I showed you that. We've got a duck. SPY Vertigo, Tesla duck, XLK. This is the one we rolled today. So it's just inside range pretty close to where we rolled it. And then Zoom already showed you. So those are all the positions. Those are all the alerts. Everybody have a fantastic weekend. Don't forget the markets closed on Monday. So we'll be back trading both live stream for day trading on Tuesday, as well as alerts. We'll pick up on Tuesday again. So have a nice long weekend. Happy Valentine's Day. Happy President's Day. Cheers. See you next week.