 Hey navigation traders. I hope everybody had a great Thanksgiving. I'm actually recording this on Saturday, so it's a day later than than usual, but spending time with the family kind of Unplugging away from trading for a day is always a good thing So hope everybody had a great time and can't wait to get back into it Monday But this can be a shorter video. We only had three days of trading didn't take any trades on Friday Which was a half day the markets were open until noon central time so we'll go ahead and jump into the alerts and Check out what we did Monday Tuesday and Wednesday So first trade we did was an opening trade in THO which is Thor Industries now This is a ticker that we don't trade a lot But this is one that we actually found through the CML option back tester It's performed really well for the earnings strategy that we teach in our course the pre earnings long call So what we're doing is we're anticipating some upside in the price of the stock and continued expansion and IV leading up to earnings Which were 11 which are 1127? We were only in this trade for one day so you can see on the 21st We we ended up taking this off Booked a profit of 200 and I think 220 bucks if we go to our closed trades Yeah, $220 profit on that trade in just one day. So it worked out very nicely We take a look at the charts we got in here on this day here and the very next day It popped up give us a chance to exit for about 40% of Profit in just one day. So that's that was a great trade The the next trade was a closing trade in FL which is footlocker again another symbol that we don't trade too much But this was a this was a post earnings Short put play where with the with the stock trading around $40 instead of doing a spread We didn't we wouldn't collect enough credit. So we just did some naked puts When footlocker announced earnings the price opened Above the expected move and so one of our favorite post earnings Option plays is to sell puts or put spreads so that in anticipation that price is going to stay steady or Climb even further than above that expected move. And so if we take a look at footlocker FL You can see we expect that we actually got in price down here price Went up and then just kind of traded sideways for a few days gave us a chance to book a nice profit In just a few days of trading. So another good post earnings short put play there Next trade was in FX eyes. So we had price breach our upside short strike So we did the mechanical thing where we rolled our Untested side up closer to price and in this case, there was only 24 days to expiration. So typically with our you know Strangle straddles uncovered option positions once we get under that 21 days to expiration We're going to go ahead and roll that trade to the next expiration cycle In this case, there's 24 days to expiration and since we are rolling our puts up We decided just to go ahead and roll those out to January and so now we hold the 47 puts and the 48 calls So there's no reason to to roll the puts up With and just hold them for another three days and pay another commission and roll them again So we just rolled the entire spread out to January So if we take a look at FXI you can see do that big jump up in price there We we rolled those out. So now we've got the short 47 put 48 call and prices pretty centered there so just waiting for some more time to pass and Some more theta to come out of those options before we take that one off Next trade was in XRT. So we opened up another strangle in XRT This one is still pretty centered. We just put it on so so nothing to do here Just just waiting for some more time to pass an XRT if we look at the implied volatility you can see it's at 62 on the percentile So still staying nice and high for us giving us giving us opportunity to sell some premium at higher prices Next trade was that the closing trade in THO already went over and then the next one we had a closing trade in EWZ so Implied volatility was still at 65 when we took this off But we booked a nice profit of over 40% of max profit and if we take a look at EWZ I think implied volatility has gone up even more Yeah, so it's at 75 on the percentile now. So Early next week assuming it stays high and doesn't doesn't collapse We'll look to put on another position in EWZ and typically in these lower-price stocks, you know under 50 bucks I typically like to trade the uncovered Strangles or straddles as opposed to iron condors because you just don't get enough credit a lot of times to make It worth the transaction costs and everything else that goes along with a four-legged spread So we'll look to probably put on a short strangle or straddle in EWZ early next week Assuming this implied volatility stays nice and high for us. EWZ has been a great trading vehicle for us this year so we'll go back to the well and try to squeeze some more profit out of it Next trade was a closing adjusting trade in Baidu so Baidu was one that we put on as an earnings iron condor and When they announced earnings it had a pretty decent move down We had to close out our untested side and if we take a look at Baidu You can see we put this on after earnings announcement had a big move down remove the untested side rolled the Vertical that we kept on and you can see we had this nice move up over the last Several days giving us a chance to book that piece for profit About a week ago. We also put on another Iron condor to collect some more credit and so we'll just kind of continue wait so overall on this trade we are Almost back to break even even after that big move after earnings So we're just going to collect some more theta on this iron condor of course if it Breaks through one of our break-evens we will adjust but assuming it stays in our range We'll book this and end up with a potentially a small profit overall in Baidu even after that big move against us in Earning so that's the power of this to stay in mechanical using the adjustment techniques that we teach And Lastly we did a closing adjusting trade in wheat So we are holding on to this put vertical which is part of an iron condor in wheat There's only two days to expiration. So we were just waiting for a time where we could potentially get out for a little profit on this Had to get out and we eeked out a tiny profit on on this piece so We were still holding a full another full iron condor In the January cycle. So if you take a look at that I can see still still very centered got a little bit of profit in that not enough to take off and remember This is just a continual trade of working our way out of a hole That we originally got in with this massive down move that we had in wheat So continue to work out of that nicely Price is staying fairly range bound giving us that opportunity to collect more credit book those winners to To work our way out. So I really I can't wait till we get out of these Either one of these with the wheat or the soy beans is kind of a similar trade with that major down move that we're continuing to work Our way out of I'm gonna do a full video Kind of showing from beginning to end all the adjustments and everything we did to work our way out So can't wait to show that it's gonna be a great learning tool for a lot of a lot of traders who have not had a major move go against them so You're gonna have those from time to time and the difference between the winning traders and the losing traders are those who Understand how to manage out of losing positions. So Continuing to work our way out of that one and those were all the trades for the week So let's take a look at some of our other positions Starting with Ford slash ES the S&P futures. So we've got this long put spread, which is the 25 80 2540 put vertical and this is one that we're just keeping in our portfolio for some short Delta For that protection against the down move Obviously with the S&P's Continuing to grind higher. That's been a little bit of a drag on our portfolio But once this market does turn and it will at some point. I promise Then then you're gonna see a major benefit to keeping that in your portfolio Next position that gas Wow on Friday on you know Friday after Thanksgiving usually things are pretty quiet But for whatever and I haven't even checked to see exactly what the report was or what happened and it doesn't really matter But and that gas had a huge move down almost four and a half percent on Friday We've got an iron condor in that gas and you can and you can see it's not even with that huge move It's not even to the point where we need to adjust yet But kind of took us out of center where we were so needing a little bit of up move in Nat gas to benefit that piece if we take a look at UNG, which is the corresponding ETF to get a look at the applied volatility You can see is that the 67th percentile So even if we don't have to adjust Nat gas in case you know, even if it doesn't breach our downside break even Early next week with implied volatility nice and high I will probably put on another iron condor nice and centered around price just to add some more potential profit into that With with implied volatility nice and high. It continues to be a nice trading vehicle for us Soybeans we've got an iron condor here You can see price kind of hanging out in the upper upper end of our range But nothing to do in soybeans yet except for weight. I wouldn't ever wheat We've got adobe So we've got this we've got the short call vertical, which was part of a an iron condor It has breached our upside break even so we removed our untested size So just needing a little bit of down move in adobe to benefit that piece And then we've also got another full iron condor. So collected some more credit there and Continuing to work our way out of adobe, which if you were in that trade remember it had that huge jump up not even over earnings, but just during a On a day where they made a big announcement of some new updates and software that they that they're releasing so Just looking for adobe to settle down in a nice range with which it has Since about the beginning of November. So hope to see that continue We will probably can continue to play this during over the next earning cycle But I'll give more updates as we get closer to that point Nothing else to do in adobe to this point DIA we've still got this short call vertical, which is once part of an iron condor So we need some down movement to to benefit that if we do get a pop-up and implied volatility We'll probably put on another iron condor in DIA. We're at the 43 level So next week if we get a little bit of an increase there We'll probably add to that piece to to continue to manage our way out of DIA and oops Next position EWW. So we've got a strangle on an EWW Little bit of profit there not enough to take off. So we'll continue to wait on that one mentioned FXI IBM So we've got this inverted strangle here and This is one that we're in December remember with these uncovered options Anytime you get under that 21 days to expiration. That's when the excuse me That's when the gamma or the risk starts to accelerate So we like to roll these out to the next cycle, which would be January with 55 days So early next week, we'll look to do that collect some more credit give ourselves more time to be right in IWM IBM and then IWM, which is the small cap index Russell 2000 We've got an iron condor in here with the bit with the move up in IWM You can see it's kind of in our upper range But if we get a down move will continue to hold if it continues higher We'll we'll need to make an adjustment in IWM and Then the cues on Friday. It actually did breach or break even But I didn't I actually I was trying to get filled on an adjustment never got filled So obviously never sent out an alert and if we get a nice move down in the cues on Monday Then I won't do anything But if it continues kind of stay where it is to move higher We will adjust by removing the untested side and then we've also got another We've got another short call vertical here Which we will continue to manage and those are all in December So if we add another iron condor, we'll look to do that in January with 55 days to expiration And you can see the implied volatility is really dropped in the cues So the implied volatility has has done what we want However, price has kind of made a pretty big move outside of our range here So we'll continue to to manage our way out of that one and then XOP applied volatility staying nice and high in XOP and So price just kind of hanging out here need a little bit of an up move It's more theta decay in XOP to benefit that and I already mentioned XRT. So that's all our trades That's all our positions look forward to another great week of trading starting on Monday. Look forward to talking to you then