 Hey everyone welcome to today's update today's Wednesday, December 11th Let's start out with talking about Booking booking holdings. We booked some profits in booking today And we had an iron duck on and what you'll see here is since the time we put it on price ran way up here Which if you look at the probability of profit you see it's under 10% So there's an under 10% chance that between now and expiration we have a chance of getting down here into the max profit area and so when that happens I mean we're not going to hold this all the way to expiration which in this case was December 21st December 20th the last day of trading. We're just going to book this take our profits and Redeploy that capital into new trades. So booked 170 bucks per contract Nothing big but better than a sharp stick in the eye So that's booking also put on a new earnings trade Lulu Lulu lemon for all you men out there who like your yoga pants We put on a Lulu lemon iron duck to hold over earnings They announced after the bell today and so you can see prices hanging out right here now The expected move in Lulu is about 17 and a half bucks. Yeah, that's 17 and a half plus or minus and so if prices hanging out right here about 234 so we have all the way down to about right here to get within that expected move So if price obviously rips higher, we're gonna collect that small beak profit And if price comes down and stays within its expected move, we've got a chance at a nice max profit So this was a good trade for really any size account I mean you're using about 700 bucks in buying power that you're that's kind of your max max risk in case things Were to get super crazy and and price were to just have a three standard deviation move to the downside So you could do this in a small count or of course you could scale up with contracts to do it in large accounts as well So look for that Lulu earnings after the bell the other thing that happened today was the Fed Made their interest rate announcement. Did they hold did they raise did they cut? They left it unchanged. So they held exactly where we're at with Indicating no changes through at least 2020 We'll see if that really happens things can change quickly, but that is the stance of the Fed at this point So what does that mean for the markets? What did that do after the announcement? They did that today at 1 o'clock. So if we take a look at let's look at the SPX and let's look at a intraday chart a five-minute chart and So here's what happened here was the announcement right in this area here And what happened the market grinded higher the market liked that they didn't do anything You know the market tends to like certainty Uncertainty is when it gets a little bit volatile. So that certainty just kind of played out and the market continued higher Not by much. I mean the S&P's up less than eight bucks today. So This market has just been this week has been pretty brutal from from an action standpoint If we look at the S&P, we look at the expected move at the beginning of the week So I just have that plotted with these green and red lines. So at the beginning of the week We could look at the expected move the one standard deviation move to be in this range here Well, look what's happened so far this week. I mean, it's been Nothing just no movement. It's like watching paint dry. It's been pretty boring. So hopefully we get a little bit of action Maybe tomorrow or into Friday and then you know, obviously hopefully and potentially in the next week as well But that's all I got for you. Let us know if you have any questions. Talk to you tomorrow