 What is up my fellow trade hackers welcome to this week's video update today is Friday August 9th We will review all of our trades and positions for the week before we do Let's jump into the community and check out who got caught being hot this week this week's winner Yana Hudson made a suggestion that we start adding the underlying price of The symbol that we're trading when we enter or adjust or exit You know, this may be something that kind of sounds I don't know just kind of Like it should have happened to begin with but it's something that we never really thought was of much value, but it's easy to do So we've rearranged our templates when we send out alerts So we'll start including the underlying symbol price and hopefully that makes it easy for everyone to follow along So thank you for the suggestion Yana appreciate that you got caught being hot Appreciate it. Keep up the good work All right, let's jump into the alerts for the week starting at the beginning of the week on Monday the 5th Scroll down there quite a few alerts this week with all the activity going on in the markets starting with One that's been been a real thorn in our side and that is four slices ZB the bonds in this case in this alert We just added a another short strangle taking advantage of the extreme implied volatility expansion and Just playing the game and adding to this and so let's take a look at I mean look at this Look at this bond move. I mean, this is crazy for bonds I mean, it was painful as it got up to here and then they just got extended You know, this is the point up here where you kind of wanted to jump off a bridge And then it just reversed on us came back down now. It's kind of just bouncing around Hopefully we get a little bit more downside action. I mean, that's really gonna help If we take a look at our position here, here's the one from the alert Just adding this and this is still very centered as you can see right here So nothing to do on that piece the the one that's causing us a little heartache Is this one here where you can see prices moved outside of our range now if we look at just the puts You can see we've still got a decent amount of premium left in those Which is why we have not rolled those up yet And you know, we were and in fact on this day here on Wednesday when we did have that extended move higher We were potentially looking to roll our puts up at that point and good thing We just add a little patience because you know, what you don't want to do is you don't want to roll up at the height And then get whipsawed back down to the downside That's gonna happen. It happens to everybody, but The patients did pay off a little bit because it has come back down We're we're still down on this trade and we need we need some down movement and just some consolidation Let bonds settle down which which they will you know when you're in a period like this It almost feels like these things are just gonna continue to go up forever But they don't and you know, I know I harp on this all the time, but the one thing that makes this Doable and it makes allows you to play through Extended moves like this is you've got to stay small and bonds is a pretty decent size product You know and and so, you know, if it's too big for your account size, you know, you can go to ZN Which is the notes which is about half the size Or you could trade the ETF which is TLT TLT is not that great of a trading symbol But I prefer ZN or ZB, but you can get smaller Utilizing ZN as opposed to the ZB, which is the bigger one So keep that in mind and size is always a major major factor when you have these extended moves And so you've got to be cognizant of that based on the account size that you are trading All right next alert was a rolling adjusting trade in Apple So we had a long put vertical in Apple here got down to 11 days to expiration We went ahead and rolled that out to September also adjusted our strikes down from 215 to 205 down to 210 200 And just as the market was moving down We wanted to adjust those down book locked in kind of that credit that we had on that piece of the trade And just continuing to hold this for that short Delta exposure So if we go to Apple you can see after earnings they had a good earnings announcement popped up And then this has been downhill from there Had a little bit of bounce back now today It's rolling back over a little bit if we take a look at our trade since we did that roll It's actually prices actually a little bit higher, but just looking for some more downside to benefit that trade Next trade was an opening trade in SPX So he added a new weekly iron condor in SPX at that point. It had seven days till expiration and And again just like we do with these we're gonna exit with one DTE or if we get to a position where it hits our kind of our stop-loss point and So let's take a look at that one here Come back down nicely today We were pretty well centered and then price moved significantly higher yesterday, and then it's now it's moving back down into into range here for so Today is Friday obviously and we're up about 1500 bucks on the trade Got some questions in the community, you know, should we close this one down and kind of recenter it? No, we're gonna hold this till Monday We've got three days until expiration, and so Monday is the last trading day So we're gonna go ahead and hold this obviously if we get a huge gap higher. That's not gonna be cool But if we kind of stay where we're at or better yet get a little bit of a down move Into Monday, you know, that's gonna be that's gonna be great And we've got a max profit on this of over $3,600. So if we could pull out a $3,000 profit out of here, that'd be amazing Just got to play the probabilities though. So we're gonna hold this until Monday And the reason we don't we didn't want to just cut it loose and recenter is because we also have this double calendar weekly double calendar Which well was it was more centered today, but now it's kind of hanging out down here But we didn't want to stack another position right at the same price level. So we're in good shape I like where we're at with both of these and so we're gonna just play these as is on our on our double calendar now We we have six days till expiration on our front week And then like I said on the on the iron condor, we've got three days. So That's where we're at with SP X Next trade was a rolling just in trade in SP Y So we had a short call vertical spread again got down to that 11 days to expiration We were well over 50% of max profit So we wanted to roll this out extend duration keep that short delta in our portfolio And then we adjusted our strikes down to compensate for the move down in the market So let's go to SP Y and then I'll make some comments about our overall short delta exposure at this time So SP Y so yeah, it's moved up a little bit since then but still within range Just holding it looking for a little bit more downside to benefit that as far as our short delta to theta ratio for all you new members We like to keep kind of a range of our overall portfolio bias We like to keep a little bit of short delta to Help with those big downside moves like we've seen recently and that that certainly has helped We are but we'd like to be between one to one and five to one So if our theta is a hundred dollars, we'd like our short delta to be negative one hundred although I have to maybe negative five hundred and right now. We are a little bit under that one to one We do we are short. We do have a slight short bias in our overall portfolio But we but our theta numbers are actually higher than our short delta So we'll continue to look to potentially add some short delta We added a couple pieces this week, which I'll get to here in a second But you don't want to over adjust you don't want to over tweak that And that's why we have kind of a wide range that we like to play in with that short delta versus our theta ratio Next trade was a rolling adjusting trade in QQQ So we have two two different sets of short call verticals and in the cues that we've been rolling for that short delta exposure and we rolled one of them from August out to September and then Adjusted our strikes accordingly I'll go to the I'll go to the platform here after rather our other one Next trade was the closing trade of a previous double calendar that we had in SPX Price had moved significantly lower And we closed that one out Let's see. What did we do on that? Let's go to our closed trades real quick. Oh Yeah, that's the one that we took the big loss on so price and that's when price made that huge move and So then we had to exit that one for for a big loss Hopefully we're gonna get that back next week with our current trades that we have on Let's go back to our alerts And that was on 8.5 So I just scroll on here trying to get back in on track. Yeah, okay. Here we go All right, so next alert was the opening trade in KRE so he sold some premium. We were looking for Spots to sell some premium with the IV spike IV percentile was up to 99 on KRE. So he sold a strangle KRE were we're almost at that 30% of max profit. We're at about 25% so we're gonna hold this a little bit longer But you can see when that implied volatility contracted how quickly it can contract still pretty centered here So might be able to take this one off early next week if things can kind of stay stable But we'll see what happens in KRE Next trade rolling adjusting trade in ES. So this is another one. We've been holding for that short delta exposure this is a long put vertical and This one we stayed in the same cycle because we still had 45 days expiration So we weren't rolling out in time with this big move down We were simply just rolling our strikes closer to the current price to lock in that gain on that piece that we had and then Just kind of continue to keep that short delta exposure So now what we've got in ES is this piece here and you can see prices hanging out right here It's in range. Just looking for some more downside to benefit that piece Next trade rolling adjusting trade in DE. Okay, I completely butchered this one. So I apologize I I'm usually pretty good. I make very few mistakes on these alerts, but but man I'm not sure what was going on. Maybe I didn't have my coffee at that morning I I don't know but I completely butchered this one basically We had a long put vertical spread in that we put on in DE a couple cycles ago and then we rolled and what happened is I tried to roll this and I accidentally Pick the wrong expiration cycle. So, you know toss defaults to the next weekly and so that's what it defaulted to I forgot to change it to the next The September cycle, which is what I was trying to run to and then when I and then I went to go fix it and for some reason I was thinking short call vertical spread and And so I sold a short call vertical spread instead of a long put spread now on the risk profile They're virtually identical. So it's pretty much the same trade But I just completely flipped this from a long put vertical into a short call vertical Now what we did is we ended up just keeping it as a short call vertical Reason being is because let's go to the chart on DE and you can see They have earnings on 816 so with earnings obviously that we're gonna get an implied volatility crush after the earnings announcement so you so we really want to be net sellers of options and so That's why I said, you know, let's just keep this as a short call vertical because we're gonna hold this through earnings And and we're gonna get that implied volatility crush and it's gonna help a short call vertical just a little bit more than it Would a long put vertical. So that's the plan. I apologize for that I I just completely butchered it nothing else to say on that. But so now let me go back just to confirm I posted on this several times in the community just so everyone was clear But so here's what we hold now. We've got the Short 155 call and the long 160 call you can see price is pretty close to where we rolled it So hopefully we get a little bit more down movement in DE. So that's the plan there Next trade rolling adjusting trade in natty gas foreslash NG. So we bought back We got down to that 21 days to expiration. So we've got two pieces on here So we took one of them rolled it out to from the September to the October cycle Or if you're not trading on toss that was the one with 21 days out to the one with 50 days And we just adjusted our calls from 2.55 down to 2.3 prices kind of moved lower So we want we continue to kind of roll down those calls kept our puts at that three strike and And then we were holding our other one in September We ended up rolling the other piece today. So I'll go to the platform here once we get to Once we get to that one Next one rolling adjusting trade in QQQ. So we went ahead and rolled our other set of short call verticals and just did the strikes down there as well and So if we go to the platform on QQQ's Well, you'll see here's this is both of them together They're just one strike difference And so kind of just look at these both together But you can see prices just inside our range here again just holding for that short Short delta exposure in our overall portfolio Next trade closing trade in SPX So this was one of our weekly iron condors that we closed out of booked a tiny profit on that one And I think like 130 bucks or something like that. This was with that huge move down This was well out of our range almost to a point where we closed it for a big loss But we just gave it a little patience and sure enough got a bounce in the market Got back into range and we went ahead and close that one out first for a small profit Next trade was a rolling adjusting trade in DIA so we've got two sets of short call verticals took one of them and then rolled those strikes closer to the current price We were well over 50% of max profit with September still had 44 days to expiration So we didn't roll out in time. We just simply rolled our strikes down. So that's what we did in DIA. Let's take a look and We've got two different sets here. So very similar to QQQ just you know one strike difference So just look at both of these together because they're virtually Virtually the same you can see prices right here. Just look again looking for some downside to benefit those pieces Next trade EEM. So this is one where we wanted to add some short delta and in this case We just kept it really simple. We just bought a put. We just bought a long put By doing so, we're gonna get you know, if price does move in our favor We're gonna get that expansion of implied volatility And if things really get hairy, we've got that unlimited upside and so we just wanted to put that on an EEM You can see prices moved a little bit higher since we put this on but we've got you know, obviously That downside exposure that we want from EEM if we take a look at the charts, you know part of the Like everything else we had this big push down and a little bit of a bounce higher And so that looked like a good point to add some short delta and so price is starting to roll over today So we'll see what happens into next week now. We we put this on had a couple questions on this We put this on Pretty deep in the money. You can see it's the 85 delta and the reason we do that is to minimize that theta decay You know if we're if we're buying out of the money options that theta is going to decay pretty quickly But if we buy them deep in the money That's that's why we do that because it kind of there's there's a lot less theta decay on those long options Next trade opening trade in Netflix So we added some more short delta and in this case we did a long put vertical in Netflix They just announced earnings recently, so we don't have to worry about earnings and again just adding some short delta In into our overall portfolio now. Why did we choose Netflix? Well? We were looking for a big tech name And and it kind of fit the bill same thing push down a little bounce higher looking forward to potentially roll over Which it's doing good job of today took a little heat for that Yesterday as it moved higher on us, but we're we're basically back to the point of where we entered the trade So just looking for some more downside to benefit that one Next trade rolling adjusting trade in DIA So I already showed that one that was just the other set that we went ahead and rolled down as well as price continue to move lower Opening trade this is where we opened up our double calendar and you know keep in mind in in toss It shows as double diagonal, but it's a double calendar we entered this one with seven days to expiration on the front and 22 on the back and those were our calls and put so implied volatility the mark was up big implied volatility is contracting. So that's why we chose the double calendar over the iron condor Next trade was a rolling adjusting trade in Natty gas So this was today we took our other piece our other short strangle and we went ahead and rolled that moved our calls down from 2.5 down to 2.35 and then kept those puts at 3 so let's go to the platform and check out and Natty gas and What you can see is price is just hanging out here in the lower end of the range And so we we desperately need some upside movement in Natty gas You can see here This is both positions together The strikes on the call are just one different and then we're sharing the three put like we have for the last couple cycles So that's why you see the the two contracts on that one. So Looking for some upside movement in Natty gas. It's been on a real Slippery slide to the downside Hopefully we found a little bit of a bottom here We can get a little bit of a pop higher and kind of stabilize around that level that would be the The ultimate for Nat gas. So that's the that's the plan there just continue to stay mechanical Play the probabilities Next trade was a closing adjusting trade in IYR. So this morning price made a big move up in IYR and so we took off that that put vertical side because it was basically worthless got out for four cents and So now we're just holding that call side and then we're also holding a full iron condor So what we'll do here in IYR and now it's moving down, which is good So moving back in our favor, but this is it. I mean it blew through our break even And so we need a little so we're just going to hold this into next week See if we can get a little bit of downside movement, you know, if we can get back into range, that'd be great If not, you know, you know regardless of what happens We're going to close this out next week because we've got seven days to expiration at this point And then we've got this other iron condor here That's already out in september and you can see prices just kind of hanging out right here Fairly centered a little bit to the upper end of the range. And so we'll just continue to hold and manage that one as well And then lastly we did an opening trade this morning in ma And which is mastercard. We were just looking for kind of a higher price symbol to do a defined risk trade in with high implied volatility ma fit that bill as it As it trades at a higher price than that 275 ish range Um targeting 30 to 40 of max profit. Let's take a look on the platform at ma. I mean, this isn't one where we trade a lot but You know implied volatility 78 on the percentile nice and high they just announced earnings about a week and a half ago So we don't have to worry about that for a while And so hopefully we get some stabilization in price there and we are able to book a profit In uh in mastercard. So that is that so those are all the alerts. Let's take a look at some of the other positions wild moves in oil Uh, I mean, we had a huge move down on this day and this day was I mean, this is a huge That's a seven percent down move That's like that was down like five and a half six percent at one point and then Rallyed half of the way back and then boom boom shot back up So we were literally at our short put We were way down here and prices moved all the way back up to being in a profitable position So hopefully price is kind of stabilized around here and we can let that theta decay in our favor Uh, I mentioned es. Let's look at gold. We've got this iron condor You can see prices just barely breached our break even right here if we take a look at our puts Um, you know, we've still got a uh, we've still got a little bit of uh, premium left in those So we're going to hold it over the weekend. Obviously if we get a down move in gold Back into range will be good to go if we continue higher Then we'll go ahead and close out this put vertical side and probably add another centered iron condor Around wherever price is at that point. So Look for that in gc I mentioned natty gas. I mentioned bonds wheat So wheat's making a little bit of a move up here You can't really see the notch because it's on that break even point But price is basically right here almost back into range So if we get a little bit more up movement in Wheat we can take that one off and book a profit on that piece of the eye that piece overall We've got 14 days on that one So hopefully we can get a little bit of a movement Into next week and take care of that And then the other piece that we have is this uh full iron condor price is hanging out right here near center So just holding for more theta decay in that one Uh, I mentioned apple. We've got that uh long put vertical I mentioned de I mentioned dia I mentioned eem Goldman sacks. We've got this long put vertical here. That's also for some short delta short bias So just looking for some downside in goldman intel So we've got this adjusted short strangle where you can see price is sitting right here Now we are above 50 of max profit on this piece If we are closer to expiration, I would either close or roll this out, but we still got 42 days to expiration We're down about 100 bucks on the trade overall after adjustment So I'm just kind of holding on to this if we can get back to break even on the trade We'll probably exit with a small profit Or we'll just kind of let this hang out and then potentially roll out to october Once we get closer to that point, we wouldn't we're not going to wait all the way down to 21 days to expiration But once these october options get down into that 60 range, you know So another 10 days or so we'll either look to either just close this out depending on where things are Or roll out to october IWM we've got an iron condor here where you can see price is a fairly centered got a little bit of profit not enough to take off yet I mentioned IYR I mentioned KRE MA netflix cues smh So we've got two different adjusted strangles in here You can see price is hanging out right here in this one. Both of these are in september And so just playing the waiting game on these just letting some more theta decay and smh for us I mentioned spx SPY I think I mentioned that one too. Yeah, we've got this short call vertical just looking for some more downside Vxx this was one that we put on when implied volatility spiked You know, we thought this was the spike, but then we got this on top of that Now it has has rolled over as as things have calmed down a little bit But if we look at the trade, so we're we're just inside range price was way out here after that big spike And it's come all the way back into range here. So just looking for things to kind of stabilize In here now remember this is inversely correlated to the market So if the market goes down, you're going to see prices move higher on this If prices move higher on stocks, then you're going to see this move back down in our favor. So Uh, just kind of using it as a little, uh hedge against, um volatility And then lastly xlk. So we've got a long put vertical on here You know, this is one that we could uh potentially look to roll the strikes closer But i'm just giving this more time. I mean this this doesn't really start flatten out until up here So if we can get a another sharp move lower, we will either roll these strikes closer and or potentially roll out to october When we get into next week, uh, we still won't be in the 60 days till expiration range Uh, but with these kind of more directional pieces, I don't mind going out a little bit further out in duration Um, uh, even into the you know, once this gets down into the 60s, even if it's not below 60 We'll potentially roll out to october. So That is the plan there. Those are all the alerts. Those are all the positions. Everybody have a great week end Catch you next week