 Hey everyone, welcome to this week's video update today's Friday June 26th. Hope everybody had a great week of trading Let's talk a little bit about the markets. Let's talk about who got caught being hot this week in the community We'll talk about day trading and then we'll go through the alerts and all the current positions So starting with the markets, you know today obviously another big red day in the market I mean this thing just you know, wasn't down too much at the open In fact in the overnight pre-market session We were up a little bit and then it was just it was like a slow grind lower Right. I mean didn't have any big flushes down. It just kind of kept grinding lower and lower lower and then you know two days ago had a very similar size down day had a little pause in between but Man, I really think this thing is is gonna is gonna start falling So be aware if you don't have short Delta or if you don't have enough short Delta in your portfolio I think this thing is Is ready to crack. I just I can't see this thing ripping a new highs. Obviously sure could I am I am you guys Probably think I'm a perpetual bear always, but that's that's really not the case I just I really think this thing is too frothy. It's too. It's too high for for where it needs to be Now we've talked about over and over and over the market is not the economy, right? The mark with the market is doing is not always related to exactly what's going on in the economy So I don't want you to think it's just because of coronavirus spikes or unemployment or anything like that I mean, I think this thing has just ripped too fast too hard too high I think we are going to see some more downside. So that is what we are. That's the way we're playing it We've got about two to one on our short Delta versus our theta ratio when you beta weight it to spy So we're certainly not Overly short. In fact, I would actually like to get a little bit more short if we get a look if we get a bounce in the next week But we'll see what happens now This is the S&P, but we've talked about in videos over the last couple weeks that What's really driving this market? It's really three main sectors. One is tech So let's just look at the Nasdaq and let's go to a let's go to a yearly chart. So here's Here's the Nasdaq. I mean really heavily loaded with tech The other thing is financials. So if you look at XLF, which is the financial ETF You can see they these are not nearly as high. So they rebounded but not back to all-time highs like tech has and so it's certainly pulling down on the market there, especially over the last couple weeks and Then the the last thing and and there's no real ETF I used to look at this but the last thing is travel and that's that's specifically with You know where we're at in the economy with the whole corona economy going on So if we just look at some of these Travel stocks like for example Delta Airlines I mean these things didn't get anywhere near back to all-time highs, right? And then and they're seeing a pretty big slide the last couple weeks So that's Delta Airlines Expedia another travel related company down over six percent today You know again, no, we're not nowhere near the highs and so still still getting hammered there But now if you look at tech, I mean like Google's down over five percent today Facebook down over eight percent on the day Some of these tech stocks getting hammered. I'm golden sacks financial getting hammered today But I really think so forget about forget about financials. I mean, they're they're a huge part of our economy But and then and then travel For this market to really really go down It's got to be led by tech and and the reason I say that is And if you look at we if you look at our blog we did a video called Why index funds are dangerous and it talked about and this was I think a year and a half ago that I recorded that And it was just talking about It's a cap weighted index and because of all these tech companies becoming the largest companies in the world your microsoft your amazon your apples And google's I mean those are the they make up such a huge heavy weight in the s not only the nasdaq, but the s and p 500 And so for the s and p to go down for for all the major indices to really go down It's got to be led by tech now. We're seeing you know today The nasdaq down about less than two and a half percent Small caps down leading leading a little bit more with 269 the dow actually down a little bit more than that the s and p so all all down pretty relative relatively the same For this thing to really get hammered tech is going to need to lead the way and as you can see It's still hovering near all-time highs. So had a little break two days ago and had a little break today But um, you know, like I said for this thing to really get going to the downside tech is going to be the leader All right, so that's just a quick Summary on the markets. Let's go into the community and talk about who got caught being hot So we're in the new community platform if you haven't familiarized yourself with it yet I know switching platforms can be difficult. Nobody likes change I I like some things about the old platform a little bit better But I like a lot of things about this new one better too And I think you will too especially as we start to add some some really cool customization to it But who got caught being hot this week this week goes to our friend atul He's a he's a new member to the community And he didn't post this in the um In the community he sent it to me by email But just some as he was onboarding and of course we were going through this transition of the platform this week And so it was a little a little bit different But you know, he he just provided some really good insight some suggestions for how You know What what would be good as new members come on board some kind of onboarding processes very detailed email So we take this stuff so seriously. I always ask you guys, you know, give me feedback What do you like about this? What do you not like about this? We want to hear your suggestions and and what a great, you know, just Summary that he sent us by email And I'll be sharing some of those things as we as we roll different things out Over the next weeks and months But we're really I mean our top priority is literally to make this the best options trading community in the world And that starts with suggestions and feedback from you all so Keep them coming. We love it. Uh, love everything that you guys are doing and and saying and and helping with So keep it coming a tool. Congrats. You got caught being hot All right, so one other thing I want to mention about the new community. We just posted on the blog And we just posted in our community here If you haven't seen it if you go to If you go to the topic welcome to the trade hacker community If you go to the the very top here, you'll see we we posted a link to a quick overview of the community So if you haven't looked at that yet, make sure you do it's also posted on our blog And it'll give you a little bit better insight about how to navigate through this one thing I also wanted to mention right now everybody's Username is basically just the first part of their email right without right before the at Gmail.com or whatever right before the at symbol And so that's kind of the default of what it what it gives you as a username You can change that and that was we just updated that So if you go to your profile in the upper right hand corner Click on yourself and go to preferences and then go to Uh, well right here on account you can just simply click this and you can change your username to whatever you want So I know there's some people who We're looking for this where You know, they had a different username and the in the old community platform And now this one defaulted them to their their first part of their email. So, um, you know, it's it's hard to decide Who was who and you know, which people are commenting So feel free to change that to whatever you want So we can get to know you and your comments and and everything else and so hopefully that's helpful Um, and I go over some of the other Features of the of the community, um in the in that video. So be sure to watch that All right, so moving on to let's go to day trading before we jump into the alerts. So So Bring this up here. So this week was not a great week of day trading for the kids Uh, and this was a lot a lot of this had to do with user error And so let's go through that. So from this week, uh, june 22nd through june 26th Down over $4,000 on the 22nd. Uh, this day we lost 671 Traded pretty good But you know, sometimes the uh, sometimes the bad guys just win and so that's a very manageable loss Now this day is not a manageable loss and What happened here is amazon got me. So a couple things worked against me This is the day that I decided to increase my position size. So You know, there's it that wasn't a mistake, but it just so happened that I that I increased my position size this day But the main factor was Amazon and me trying to chase it I made a big mistake again and tried to trade past 10 a.m And tried to get back some of the losses. Literally this this day should have been about a uh, $1,000 loser still still would have been a losing day, but we're talking about a $4,000 difference. And so Again, uh, you know, I mentioned this before. I mean, this is it's a very mental game this this day trading and and so And and what I found is, you know, if I'm up on the day, which I was up On this day earlier and then I start going down. I I have a very Heavy tendency to want to chase and try to get that money back And so that's just that's just kind of getting to know my own own emotions And this is the third time this has happened now where it's where it's caused a big loss and you know, I every time Every time after it's happened. I've I've said that's not going to happen again and and now it did again and so It's got to be it's got to it's almost got to be something where I absolutely just shut off my platform And I'm trading in tasty work So I could just literally just shut off my platform because I've I've got to mitigate those losses If this is going to be successful For me specifically for you and I'm I'm sharing this with you to make you better once we roll this day trading program out Because the opportunities are there every day the strategy is awesome But these these mental mistakes and and little things like this can create situations where You know, not only did I trade past when I was supposed to but I I got even bigger size than I Should have than I that I wanted to and and it created this situation. So Not good for me But hopefully this is going to be helping you once we roll this out because I'll be I'll be harping on this and again You know, I I don't think this would have happened had I been actually streaming live and and and doing this with you Also, hopefully you guys will be a great accountability for me Next day was a it was a great day. So I got back a lot of that plus uh, 3500 the only Tiny loser was Microsoft everything else very solid returns on that day and and You know, I mean it's that's kind of common like after I have a day where I just completely You know go off the rails the next day is typically pretty good because I'm just doing it by the book and this is a this is a more Uh, I don't want to say normal, but this was you know, this was a very good day Uh, but I also was very disciplined in my in my trade taking Uh, next day booked a small profit of 272 Now I don't want to get into the hindsight shoulda coulda woulda But I did have I wasn't in my normal battle station in my office Uh, I was trading uh outside of my office and ended up having some internet issues where they went out and I looking at my charts on the desktop and Executing from my laptop and I missed out on on some of the best part of the morning early in the early in the day And and so I probably left a couple thousand dollars On the table by not getting those but again shoulda coulda woulda It is what it is P&L is the only truth when it comes to this so booked a booked a booked a positive profit But but certainly not uh, not what I wanted Then the next day which is today Uh, this day was Actually traded pretty decent And then yeah, I mean this is this is a day where This is kind of the risk of this style of trading and I know I'm not Giving you much insight because you guys haven't seen how we trade this yet But based on the price action today, this was just a very tough day You know and I and I used my increased size. So had I been on my you know previous size This maybe it would have been $1,200 or $1,500 But it is what it is and I'm not gonna I'm not gonna back down because that that was my That's my plan is to continue to increase size as the account grows and as I as I continue to scale this up So just so happens, you know the week that I did this we had a couple of really couple bad days that that went against me But uh, it is what it is, you know still still an excellent excellent, um strategy. So Let's take a look at the Spreadsheet here Um, so this is kind of where we stand now. This was this is this week here So three red days two green days again That should have been a much bigger green day and that should have been a much smaller red day But I'm sure I I want to show you guys the good the bad and the ugly because this is more about a mindset game Then it is about the strategy You've got to you've got to you've got to master your Your emotions when it comes to fear and greed in this strategy. And so that's that's that's why I'm showing you this Uh, let's see if there's any notes here that I didn't Yeah, okay, so I mentioned all those so just want to make sure so anyway, that's the recap of the day trading Let's move on to the trade alerts for this week And start with So we're going to start with Monday, which was the 20 seconds. Let's go to that trade first trade of the week was an opening trade in spx so we added a Weekly calendar spread in spx this one had four days to expiration So we put it on a Monday last day of trading was today on Friday So we put that on I'll get to the close of that here in just a minute Uh qqq. So we added a new bunker trade in the qqq. So let's go to the platform and take a look at the cues So here is our bunker So price kind of Went down went up it we're up a little bit on this trade a little bit less than a hundred dollars But again, we've got little Little risk to the upside but a big potential for downside which is exactly what we want in this in this market environment We've also got two different short call verticals on This one we're up a couple hundred dollars on waiting for a little bit more downside before we do anything there That's in july this one is also in july and this one is just inside the range So again holding this for the some of that short delta exposure Next trade closing trade in spy. So we had a bunker on an spy got down to 60 days to expiration So we went ahead and just close that trade out and that's when I opened the qqq Right before that just to kind of keep that that short delta We just um, you know this one we've got down to 60 days to expiration We put this one on with um 116 days to expiration. So we just extended duration used a different symbol To keep some of that short delta exposure in our portfolio Next trade xbi. We did a rolling adjusting trade. This is a uh A an adjusted strangle and so this was a this was one that we Actually got assigned on so we had two contracts. It looks a little bit jumbled. So there's you'll see in the top strings There's three of them here. So we bought back um The the july puts two of those We bought back one Call because we only had one left and we bought back Um, oh that's that's that's I need to correct that that's actually in there twice And then we sold the the straddle. Okay, so we we got assigned Uh on just one of our short calls and so we still had one left And so that's what that's what I'm showing this we bought back the puts Bought back the remaining call and bought back the stock And then um, and then we sold the sold the straddle in the next one So we basically just got assigned on part of it rolled it out to the next cycle And so that was a little bit of a confusing one, but now we're we're now we're out at 60 days with a short straddle So let's take a look at xbi Uh xd price had moved up and then moved back down the last couple days And so we're we're uh pretty well in range here just waiting for some more time to pass and some more theta 2 to k Rolling adjusting trade in di a so one of our short call verticals in di a we rolled from july With 24 days rolled that out to august with 59 With this one price had run higher at that point now obviously after the last couple days We wish we held it on held onto it before we rolled but still got the benefit after the roll just didn't get back as much So let's go to di a and take a look at Those we've got two sets of short call verticals. So Here's that one this one's with three contracts You can see prices moved down since then made made up about 260 dollars since that roll And then this one here We've made up another 90 almost 100 dollars since we since we did that roll these are both in august So we got plenty of time and just again holding those for that short delta exposure The next trade apple another short delta play. This is a long put vertical and rolled this we had 24 days to expiration rolled it out to uh to 59 days the expiration in in uh august And same thing that price was kind of way out of range. So we just rolled this to get back to a positive theta keep that short delta in our portfolio So if we take a look at that You know now we've made back about 300 a little over 300 dollars since we did that roll So just holding this for a little bit more More downside action and we'll continue to do so And you know, we've taken some heat on this on this apple trade, right? We've we've rolled it as it was going up Uh and now I mean I but I still I really like having this and I've liked having it even though It hasn't worked out for us over the last couple cycles because it is a tech stock, right? I mean and I think if this market's really going to go down It's going to be tech that's going to lead the way And so I like having some exposure to a tech stock like apple With a long put vertical in this case Next trade opening trade in spy. So we added another ducky duck another iron duck in spy So if we take a look at spy We've got a couple different trades on here. So let's go down the line Starting with this iron duck This is the one that we had on previously. So you can see prices right here in the duckhead So if it kind of stays around this area for another few days, hopefully we can book a duckhead We've got a max profit of 645 on that one The alert that I just mentioned is this duck here And you can see prices just starting to enter the the duckhead area And so we'll see what happens. We've got until july 9th on that one The other piece the other position that we have in spy is this iron condor And you can see prices dead centered. We're up about 153 bucks on this piece Just waiting for some more time to pass on that before we do anything with our iron condor Next trade rolling just in trade in iwm. So this is one of our long put verticals in iwm in this case With the price moving lower, we're over 50 percent of max profit So we just wanted to roll our strikes closer to price in this case roll that to august with 58 days to expiration So we've got a couple pieces in iwm Starting with two long put verticals. So let's look at those first So we've got this one in july now this one I was thinking about rolling as well But I but I decided just to kind of let it go over the weekend if we do get a little bit of a bounce back We'll still roll it obviously if it if it continues lower we wake up monday and it's continued lower We'll make profit that way as well And then we'll roll it with by rolling our strikes closer to the current price and this is in july so we will roll it out to august This is the one we are just talking about though with three contracts And so it's pretty close to where we where we rolled it. We're up 25 bucks since the roll Just waiting for some more downside on that Then we've also got a bunker couple bunkers one is Let's see. It's this one and this one now. This is a a little bit different Duration than than like we teach in the course. I did this because I was anticipating a pretty A short term kind of a quick move lower. So I did this with with just out to august And I just did this a couple weeks ago. So we're not going to hold this We're already, you know getting to the point where we're past 60 days to expiration So as I mentioned in the comments, you know, we're we're only going to hold this to july 19th So 30 days before expiration at the very latest. I'd like to get this off next week I mean if we get a swift move down next week and we just get out for a little bit of profit I'll I'll get out of this and I'll probably put on another longer duration bunker And then we also have on a longer duration bunker. This one is in september So same kind of thing. We'll take this off by july 19th, which would be 60 days before expiration We're up 7 on this Also, you know, we're getting, you know, we've gotten some good down movement on this since we put it on I mean if we get kind of my target, I would say if we get down to about the 130 level I would I would think about taking this off Um, so let's look at where we're at on the chart So if so we're right here at about 135 ish. Yeah, if we get down to about 130 We'll look at we'll look at taking this off Oh right here. Why is that shaded? There we go. Uh, yeah, we're we're at about the 136 level So if we get down to about the 130 if we break these recent lows Um, that's when I look to take that off and and again, we'll be adding on another one with longer duration But for that one specifically take that off book a profit and put on another one with longer duration Next trade rolling adjusting trade in es. So this is a long put vertical We're over 50 of max profit on this piece as well. So we just rolled our strikes closer Rolled this from 22 days out to 57. So let's take a look at our es positions We've got two different sets of long put verticals Here is this one pretty Pretty close to where we rolled it as we just did that and then Here's the other one Where we're up about 240 So again, just holding this for some more downside downside delta Next trade closing trade in spx. So this was on thursday yesterday. This is one of our weekly double calendar So we had two of these on and what we've really been liking to do is close If we have two of them on close one on thursday with one date expiration Close the other one on friday and that worked out really well here booked about 175 dollars on this one And and so then we were just we had the remaining Weekly double calendar that we held until friday Now before I get to that one on that same day thursday, we added another one in the next cycle And so if we take a look at that Did this with had seven days in the front week and 12 days in the back week So here's what that looks like. See price has moved down since we put it on but still well within range Um and and these things have just been been really good really profitable. So we'll keep doing these and we did post a an update in our Weekly income course on the strategy So, you know in the course, uh, we you know, we talked about using the 40 delta Using the seven day in the front week 21 day in the back week And we've modified that a little bit with this high implied volatility to where we're using Shorter duration between the front and back I mean, this is only four days between the front and back instead of 21 day instead of 14 days And so that's that's one thing and we've widened out our strikes because we can do so because of the, uh, Heightened and elevated implied volatility So I did a an updated video kind of talking about that that alternative setup methodology and why we do it and so If you're if you're wondering about that that is in the course the weekly income course when we talk about the Weekly double calendar strategy. So feel free to check that out Next trade was the closing trade. Okay. So this was our closing weekly double calendar today on Friday We booked what we booked 500 and some dollars to get a closed trades Uh, yeah 555 so 555 on that one And 175 on the other one that we booked Thursday. So good trades there And then lastly SMH did a rolling adjusting trade in SMH So we had a short strangle got down to 21 days to expiration So we went ahead and rolled that out to 56 days to expiration Now there we were in the 121 135. There was no 121 strike. So we just moved it to 120 And then kept the kept the uh, the put it at uh, 135. So we're inverted here. So if we take a look at that xbi That's not what I want smh. Sorry I thought that looked a little funky. Uh, so here we are prices right here. So we do need some downside So this is providing a little bit of short delta in our portfolio as well And so uh, got a nice big range to move around in assuming it's going to move to the downside And so that's where we're at on smh and we're out in august So those are all the alerts. Let's take a look at some of the other positions gold We've got an iron condor in gold prices hanging out right here. Well within range. We're up a little bit Just waiting for some more profit before we do anything there Natty gas natty gas has been on a little bit of a mini slide Especially yesterday big down day in that gas Which brought us to Uh prices hanging out over here near near the break even of our profit tent Now that doesn't really mean anything after we have, um after we've adjusted But if we look at just the untested side the call side, you know, there's there's a little bit of premium left in here But if price continues lower, we will go ahead and roll those calls down Uh, we've got a decent amount of time here still got 32 days to expiration So we will um, you know, we'll probably if we if we were to if price continues lower on monday Uh, well at that point we'll still probably roll out to the next cycle. Let's see how many days are in natty gas in the next cycle If we go back to the trade tab So we've got 32 in the one that we're in but the next one's got 61 Yeah, so we'll be under 60 days to expiration in the next cycle. So if we have to roll down those calls Next week we'll roll down the calls and we'll roll out to the 60. Well, what is now currently 61 days to expiration Bonds Let's take a look at bonds So we've got this adjusted strangle here in bonds Uh price is hanging out here in the upper end of the range It was pretty fairly centered and I was going to give it another day or two and potentially roll that and and kind of lock in that That credit we're at but then price kind of shot higher with stocks going down Bonds moved higher. You see, you know moved higher that day paused when the when stocks moved a little bit up And then it's moved higher again here too. So if we get a little bit of a roll over in bonds Uh, that'll bode well for for this position and we'll look to potentially roll this Now we've got 28 days So at the end of next week, we'll be getting closer to that 21 days to expiration But if we get to a position where we're at 40 and especially 50 percent of max profit here Then we'll definitely lock that in and roll out to the next cycle I mentioned apple uh de john dear. We've got a Short call vertical here Price is hanging out right here. We're up about 140 Some dollars since we did that roll. So just holding that for some short delta mentioned dia. I mentioned iwm qq q I think that's it xlk our our last Short delta position prices right inside range here. This is still in july So if we get a quick move lower, we will roll that out to august So those are all the alerts. Those are all the positions. Hope everybody has a great weekend talk to you next week