 Hey everyone, welcome to this week's video update today is I'm actually recording this on the morning of Saturday, February 22nd Hope everybody had a great week of trading had some action Monday obviously was closed for president's day. So I had a four-day trading week But got some nice action at the end of the week. So let's go ahead and jump right in to the alert starting on Tuesday the 18th and Our first trade alert was a rolling adjusting trade in IWM So we have this long-put vertical that we're holding on for that short Delta and of course that did benefit us Thursday and Friday with the market sell-off. So we just rolled it rolled this out to April with 59 days Extended that duration to keep that short Delta in our portfolio We're at about between one and one a half to one on our short Delta versus our theta ratio And here's our IWM trade and what you'll notice is we actually when we roll this out Typically, we like to roll it so we get about a 60% probability of profit We rolled this out with less just because we wanted a little bit more short Delta get a little bit more short In our overall portfolio and so we narrowed that so it's a lower pop But gives us a more benefit to the downside if this if this thing does continue to run to the downside Next trade was a closing adjusting trade in wheat So we closed out one set of our iron condors only had three days to expiration at that point got a nice move higher nice bounce higher Wheat moved up about at the time. We took this off. It was up about two and a half percent on the day And so we were able to book a nice profit on that piece of the trade Now we're still holding another piece our other iron condor and you see prices Pretty well centered in that one. So just waiting for some more time to pass on wheat Next trade closing trade in SPX. So we had one of our iron ducks price had run higher, so we just booked that beak profit and Still had six days expiration. So there's no reason to hold it tie up that capital for another six days There's very little chance of it getting back to the Duck head now looking after the week has ended now with the two Down days, you know, it's probably got a better chance of getting down But you can't play in hindsight like that. So we took those profits and we're able to redeploy that capital I'll get to SPX on the platform here in just a second because we did add another one in But the next trade opening trade in Amazon. So we put on a duck with 10 days to expiration in Amazon so we take a look at that I can see prices come and come down after the sell-off here late in the week and we're pretty pretty centered in that duck head and So, you know, we always we always love to be able to put these iron ducks on after a down day But you also have to stay active and you never know when that's coming So we you know we put a couple of these on a couple of ducks on early in the week And then of course price dropped and so they're already right in our duck head, but that's okay I mean, that's right where we want to be as long as you know We don't get a another flush down where we're in fine shape on these iron ducks Now we also have short delta. So a down down move would help those positions So you're kind of looking at it all in a portfolio setting but managing each trade separately Next trade closing trade in Nvidia So we had a post earnings short put vertical in Nvidia booked over 50% of max profit on That trade so that was a nice one In fact, if we would have held the next day, we got even a further move higher So we got out on this day here after we we got this and booked 50% of max profit right here And then the next day just it fired up even higher Of course, it's retraced the last couple days with the rest of the market, but good trade in Nvidia Next rate closing trade in oil and CL so we closed out our short strangle in oil This thing was kind of hanging out in the lower end of the range all cycle You know with this big down move and then You know towards the end. We just got this little bounce and we're able to book 50% of max profit We did get back in with a another alert And so we are back into oil and you can see played volatility contracted a tiny bit since we put this on So we were up a little bit of money. It's playing the waiting game in oil Next trade rolling adjusting trade in XBI so price had moved up the range of our short strangle It had not as I mentioned here. We did not Breach the short call we did not breach the break even but the main but that's really just a reference point our main focus on these of when to adjust is if there's very little value left in those puts or the untested side Then there's no you know if it continues in that direction that it's not giving us really any help And so that's when we want to adjust and so that's what we did and we just rolled those puts up Stayed in the same cycle because there was 30 days to expiration still so we just kept it in March So if you take a look at XBI You can see it's come back down basically right to center now And this this kind of if you haven't if you're newer and you haven't done this before just remember You know after you adjust it's gonna look like you're you know, you're way down on the trade It shows down $336 but what this what what the platform doesn't take into account is the credit that you already booked on the Puts that you closed out. So Keep in mind when you're looking at this, it's not gonna give you a true accurate depiction of where you are P&L wise Because we've already booked that that credit on the on the put side that we closed So hopefully that makes sense. We talked about that in the short strangles course as well Next trade closing trade in Google. So we closed out an iron duck price had run higher So we booked the beak profit on that We entered a new Google trade, which I'll get here in a second Another opening trade put on another iron duck in Roku this one with 16 days to expiration So just layering on these ducks with different expiration cycles And so if you take a look at Roku kind of a similar situation situation is Amazon With this down move in the market came down into center now. I had I had somebody in the community Say something about that thinking that we were at kind of our exit point, but We have a max profit of $500 so we're not gonna get out till 500 And you know, if we were down 500, which is way down here. So And again, we're right in the middle of the duck head right where we want to be now We got there pretty quickly and swiftly. So sometimes that makes people nervous, but But that's we're in good shape in Roku at this point Next trade rolling just in trade in ES. So this is our long put vertical that we're holding for that short delta exposure So we just extend this extended this one out to 57 days to expiration Now keep in mind the markets closed. So you're not seeing the P&L line here Sometimes these things the analyze tab can act a little goofy, especially in futures when the markets close But prices right here We did move down with the market down move the last couple days and we've got a little bit of profit here since our role But it's not showing the P&L line at this point. So don't don't worry about that It'll all adjust and fix itself in the market opens Next trade with this was the opening trade in Google. We did this one with 15 days to expiration So if you take a look at that, you can see actually, this is this was the one that somebody had a question on We've got a max profit of $700. So we wouldn't exit this thing into her down at least 700 And we're only we're down for something because it came into center here But you know still a lot of time left. So nothing to do on that Closing trade and shop this one was really frustrating. I really liked this one. In fact in my other account I actually added to this one Because of the price action that we were seeing but you know anytime you get a huge flush down in the market It's gonna take everything with it. And so You know, this was the line after they announced earning This was the line of the expected move and you can see prices continue to react off that bounce off that bounce off that and You know, I was anticipating just you know that continuation to the upside However, that's not what we got. We got the downside. So we went ahead and closed that out took a loss on our shop Post-earning short put vertical. I think that's the first loss on one of those short put verticals that we've had in a couple of years And that goes for both the alerts and I can't remember one that we've lost on That I've taken in in my personal account either. So they've been really solid But of course nothing was 100% so we ended up taking a loss there now I I still wouldn't mind getting back in here next week, you know A lot of times they'll bounce off the expected move and then it'll also bounce off of the last price And so we've kind of come back down and come close to that Probably won't do I don't know we may do we may do a short put vertical depends on where our overall portfolio is with our with our with our Delta ratio, but you could do another short put vertical or the other thing We might look at is just doing an iron duck where we have that no risk to the upside But we've got a huge buffer to the downside So we'll be looking for potential trades and with implied volatility spiking I mean there's gonna be a lot of opportunity across the board and shop being one of those Next trade opening trade in SPX so we put on another iron with a big down move on Friday We put on a new iron duck with 21 days to expiration. So if we take a look at that So now we've got two different ducks Here's the one from that alert with 21 days to expiration see prices pretty close to where we put it on We just put that on after the down move on Friday And then we've got our other one which expires in I think five or six days and prices just entering the duck yet So just where we want it there So that one has Okay, that one has nine days and then that one has well now 20 at Saturday at the time it's recording so That's our SPX ducks Then we I'm already mentioned this and show this this is our new opening short strangle in CL in oil We did this with 55 days to expiration and then lastly a closing trade in Delta Airlines So this was that long put that we put on you know with the coronavirus scare and then the airlines talking about shutting Shutting flights down out of China We just wanted to get short and airline stock and that's what we did here now we We we got out of a tiny loss almost a break even I think we lost $19 overall home of trade But we put this on back here and we were hoping to get a flush down and it just bounced higher And then we did get that flushed today And we got out pretty close to the lows and it did rally back So it's a good exit but that was the last trading day for that option cycle So we had to exit so we were out of that So those are all the alerts. Let's take a look at some of the other positions gold So we've got this the one piece from our previous iron condor and so we've got a few days left until expiration You can't get assigned on gold futures And so we're just holding this up to expiration if we can get a flush lower and get back a little bit Then then that's the goal there Otherwise we're gonna close that early next week and then we've got the full iron condor We can see prices coming up and it's break breaching our break even here If we look at just the put side you can see we still got a little bit of chunk of premium left In those options so that I wasn't quick to adjust this So I was gonna give it over the weekend if we get a down movement will be back in range If price does continue higher then we will close out this The the put vertical side and then we'll potentially add to gold because we'll close out this one in the mars cycle We'll be left with just the call vertical side In the April cycle and so probably add another full iron condor in gold Natty gas along with the other energy has had a nice bounce so it's come right back up into center here So just continuing to Wait on that one. We've got plenty of time. Yeah, 33 days in Natty gas So just continuing to hold on to that one I would like to add to this if implied volatility is still high or if it you know moves to one of our Near one of our break evens on either side, but for now we're just holding ZB This was one again, don't pay attention to P&L line But this was one that was dead centered and we were close to taking off just waiting for a little bit more We were we're gonna be able to get out of this trade at an overall profit from where we started And we've been continuing to adjust and roll this trade Then obviously with the down move price in the down move in stocks Created an up move in bonds and so we're now we're up here So what I'm looking to do is I would potentially want to add to this implied volatility is nice and high So we could do another kind of a centered short strangle around that This current position has 34 days and then the May cycle at this time has 62 So early next week will be down in our wheelhouse of under 60 days So we would look to add a short strangle in the May cycle, which is what we will potentially do Of course, if we get a sharp move lower in bonds get back to center We'll probably just book profits here and then you know potentially re-enter a new position out in May But we'll we'll look at that early next week. I Mentioned wheat Apple nice move down today down over a couple percent And down on Friday, I should say so we've after our role we've we've Created a little bit of profit since that role and so we're still battling Apple I mean we've had this on for short delta and of course Apple's just continued to rally So we'll continue to keep this on if we get a little bit lower move and Apple early next week We will roll these Roll these strikes down and kind of collect that credit and continue to extend duration We've got 27 days on this so if we did that we would probably also move that out till April with 55 days Amazon I mentioned de so this was one. We were actually hoping to put on a Post-earnings short put vertical so the the expected move was about four and a half So closed at about call it 166 and So if we I'm just gonna draw this on here right now. So I have it So if it closed at 166 Then we would look at about 170 and a half ish So kind of right in here is the expected move and it opened up way up here Now all day it was kind of bouncing high. It's kind of bouncing this level and higher So we never put on a short put vertical, but we will potentially look to do that next week With this huge down move I just didn't want to fight the movement in the market And so and we didn't I had I had an order in but we never got filled because it bounced higher And then I took it off But if we get a little bit of a you know a sell-off in the early next week, we might look to Add a short put vertical here to see if we can get a little bit of a continuation to the upside in John Deere and then we've got our We've got our short Delta position on here Which obviously after earnings busted out of our range so looking for some downside to to get back into range there DIA we've got these two sets of short call verticals This one's hanging out right inside range here. That was in March, and then we've got the one in April Where it's hanging out right here. So again, just holding both of these for some of that short Delta exposure Mentioned Google IWM. Yeah, I mentioned that one QQQ very similar to DIA So we've got one in March see prices just outside the range looking for some more downside to benefit that and then We've got the one in April Right there Mentioned Roku SMH. We've had this short strangle on and price has been hanging out in the upper end of the range Finally got this down movement back into center not enough profit to book yet, but Holding that and if we get some applied volatility contraction next week, we could potentially be able to book that one maybe later in the week SPX I mentioned SPY we've got this A short call vertical from a previous iron condor just holding that for some more downside protection Our bunker trade we've prices hanging out right here. And so obviously we need a big move This is for that tail risk protection in You know if we get a real move to the downside I mean keep in mind when I say real down in my if we look at going back to SPX We look at the chart. I mean We're still near all-time high I mean that that feels like a huge down move that we had on Thursday and Friday But the reality is all-time highs are 33 93. We're only at 33 37. We're you know This is nothing. This is nothing of a down move And so remember these Vicks bunker trades are to protect us against real down moves where we were you know We'd get down into this kind of area here and that Vicks really spikes And so still continuing to hold that bunker trade and remember we'll hold this down all the way down to a point where There's 60 days expiration. So we got a long time left in this one. So nothing to do there Mention XBI and then lastly XLK We've got this long-put vertical on holding for that short Delta exposure so those short Delta positions helped us out this week and Well, and as I mentioned in the community, you know, if we go back to ES I mean, if we get some, you know, continuation to the downside and we get it and we get a little bit of a bounce I would look to add more short Delta, you know Like I said, we're about one to one or about one to one one and a half to one on our ratio And so I wouldn't mind adding some more in I'm just not trying to catch a top, you know Obviously, we wish we would have done it up here and caught those two days I would have been sweet, but that's not how it works You know, if we get this if we get this continuation of a downside and then we get a little bit of a bounce We will enter some more short Delta at that point and see if we can get a continuation to the downside So that is the goal. The other thing I wanted to mention is I know our alerts delivery System had an issue. They had one last week and then they had one this week on Friday And so a We are a new alerts delivery system. We're testing it, but it's it's it's very super super reliable So we can't wait to roll that out. That's that's number one number two the reason that we post the alerts in so many different areas is because you know Technology is great these days, but sometimes technology fails us And so I just want you to understand that, you know, we send text messages We send emails we post in the membership area at navigation trading calm and we post in the community So there's four different spots. So, you know, what I would tell you is if for some reason if if the alerts delivery system Is not working we always post in the community in that VIP pro group. That's what that's designed for So if you are, you know, the markets open at 8 30 central 9 30 Eastern, right? I mean if you don't see any alerts within the first 30 60 minutes of the day you need to be checked in that community because that's where all the updates are posted and we also you know make sure that you have your Notifications set, you know, if you go up to this bell right here This is the best way to track all notifications in the community and if you go down here to the settings wheel And you can click and set your updates so that you receive notifications because when we post in the VIP pro group We also hit notify so but if you don't have your notifications set up so that you receive them either on the mobile app Or by email or however you want to get them make sure you have those Different things checked. Okay, so That's all I got for y'all hope everybody has a great weekend and hopefully we get some continued Volatility next week. Good stuff. This is when training really gets fun. Have a good weekend. Talk to you next week