 Happy Friday Navigation Traders. Today is September 14th. Welcome to this week's video update. Let's jump right into the alerts, starting with Monday. So the 10th was Monday. So the first trade we did was a closing trade, and this was in Johnson & Johnson. We had a short put vertical, which we had added to give us a little bit of long delta to help balance our portfolio. And 12 days later, we were able to book that for 45% of max profit. If we take a look at the chart, you can see that we had this explosion higher in price, which gave us the chance to book that winner. So nice trade on J&J. Next trade was a closing adjusting trade on FXI. So we had a couple of butterflies, and we ended up closing our call butterfly in the September cycle. And we recouped some of that loss. We're still down a little bit on the trade, and at that point we're still holding our put butterfly in October, which we still are today as well. So if we go to FXI, take a look at our Analyze tab, you can see we've got this put butterfly. Price is pretty centered here. We've got some profit not enough to take off yet. So looking for some more profit to get back to break even, because we are down some on this trade. But just kind of playing the wait and see game here. Next trade was an opening trade in Tesla. So Tesla has been good to us the last couple months. And so went back to the well here, implied volatility, spiked back up. It was at the 97th percentile level. So good time to be selling some premium. And we sold a short strangle. So if we look at Tesla, the price is still very centered. No profit or loss yet. Just put this on a few days ago. So just waiting for some more theta to decay, some more time to pass. Tesla kind of continues to stay in the headlines with Elon Musk talking about taking the company private and all that kind of stuff. So it's creating some high implied volatility. You can see we're starting to get some contraction here. And hopefully we can book another winner. I have these on here from another video I created. So those were some winners that we booked last month. But we'll just continue to see if we can get Tesla to settle down in a decent range and book another profit. Next trade was a rolling adjusting trade. We did a lot of adjustments this week. As of today, Friday, we're seven days away from expiration in September. And so we are now doing some rolling for those positions that we need to do so on. This one was in Ford slash ES. And this was the long put vertical in ES. And so we rolled this from September to October and adjusted our strikes from 2850, 2800 to 2925, 2875. And I'll go to the platform in a minute because we did another ES trade today. So I'll put that all together for you here in just a minute. Next trade was a rolling adjusting trade in EEM. So price had breached our downside short strikes. So we rolled our untested side, which is the call side down. Still 38 days to expiration. So we stayed in the October cycle as opposed to rolling out. You know, once we get down to, you know, let's say 25 or so days at that point, because we're going to roll at 21. Anyway, we might roll out to the next cycle, but with 38 days left, we're staying in the same cycle. So simply just rolled down our calls. So if we go to the platform on EEM, take a look at where we're at now. So this is the adjusted strangle here. So you can see prices now rallied back up. So we're well within our range here, just waiting for some more time to pass, waiting for this profit line to continue going higher. Now in October, we still have what do we have? We've got 35 days to expiration. So we've got a lot of time. So we're just going to continue to wait. If price does move outside of this range, outside of these red hash marks, these break-even spots, then we will potentially add another piece. If we look at the implied volatility, it's still nice and high, implied volatility percentile is at 71. So we may add on to this position again and continue to manage it that way. But if it stays within this range, we'll just continue to let theta decay and work in our favor. And then once we get closer to that 21 days to expiration, we'll decide if we want to just close it out if we're profitable or we might roll to the next expiration. So we'll see what happens there. Next trade was another rolling adjusting trade, this in DIA. So we had back-to-back in DIA. And we had two sets of short call verticals, which are previously part of our iron condor trade. And we've been rolling for several cycles. A, to continue to keep that short delta on. And B, to just extend duration on these trades. And so if we take a look at DIA now, we've got these two short call verticals, just one strike apart. And so you can see price is still in the range here. Just could use a little bit of downside to benefit that piece. Next trade was a closing adjusting trade in IWM. So we had a couple pieces on here. One, we had this full iron condor price came down a little bit that day. We were able to book over 50% of max profit on that piece of the trade. And then we're still holding our short call vertical piece, which I'll show you here. And you can see price is pretty much where we started. So just looking for a little bit more downside to benefit that trade. We're pretty close to being profitable on this IWM trade. So if it continues going lower, depending on where we are with our overall short delta, we may close it out or we may continue to roll it to the next cycle if we get to that point. We'll see what happens. Next trade was a closing trade in FORGE slash 6E. So that's the Euro futures. We booked over 45% of max profit in just 14 days. Implied volatility contracted nicely, giving us a chance to book that winner. Let's take a look at 6E on the chart real quick. And so we're completely out of 6E. We don't have a position on, but just to take a look at the chart, you can see implied volatility made that nice little contraction. Ivy percentiles at 27. Ivy rank is at 40. So if it does pop its head back up above 50, we will look to potentially sell some more premium in there, but we are flat in the Euro at this point. Next trade was another rolling adjusting trade in IWM. So that was on our short call vertical piece. So it was in September and we simply just rolled it out to October. So I just showed you that on the graph. Still well within the range. Nothing to do there. Just looking for some more downside. Had a closing trade in VXX. So this worked out exactly like we teach in our course that we just reached that we just released called how to trade the VIX with 92.3% accuracy. And so this was a short call vertical spread. We were only in the trade for eight days booked a profit of over 40%. If we take a look at a chart of VXX, what you'll see here is we got in when implied volatility spiked up and price spiked up. And then it just boom, boom, boom contracted fairly quickly. And we were able to book a nice quick profit. So we're completely out of VXX. And but if it does jump back up, we will potentially look to add some more trades in there. We've been trading this strategy for years, but we never really sent it out on the alerts because we didn't have the training out there for our members. And now that we have that course training, so you know exactly what you're doing, you'll be seeing more of these with the alerts as the opportunities present themselves. Next trade is a closing trade in EWW. So we closed out our short strangle in EWW, booked over 40% on this piece of the trade. And then we are completely out of it. We had to make several adjustments over the last six weeks, but we ended up booking a nice winner in EWW. If we go to the closed trades, this was just closed today. So you can see we entered and then we had one, two, three, four, five, six adjustments before we closed, but ended up booking a nice profit of 281. And that just kind of shows you the power of the methodology and stain mechanical, rolling, adjusting, doing what you need to do and ended up making a nice profit on that one. So good trade in EWW. If we take a look at the chart, you'll see that implied volatility contracted nicely. And now it's under that 50 level IV percentiles at 48. So pretty close. So if it, you know, early next week or sometime next week, if it pops back up, we would potentially look to reenter a new trade in EWW. So look for that. If implied volatility does pop its head back up, getting back in line here. Next trade was gold. So we had a short strangle in gold. We had this trade on for just nine days. Had a nice contraction in IV, booked 30% of max profit, sold it for 10, took it off for seven. So right at 30% of max profit in just nine days. If we take a look at gold, implied volatility did contract nicely. So we are completely out of there, but if it pops its head back up, we'll absolutely be looking to reenter because gold is typically a very good trading vehicle. But you can see IV percentiles down to 19. IV ranked down to 12. So you would have to make a pretty decent move higher before we look to reenter. Next trade was our second roll in ES. So we had a, we remember with the futures, we can't do it all in one transaction. So we bought back this vertical and we sold it back out in October. But basically what we're doing is rolling from September to October. And then we adjusted our strikes. We also widened our spread on this one from 10 to 20 points. Just gave us the ability to collect more credit and improve our probability of profit. Obviously it requires a little bit more capital too. So there's always a tradeoff of risk and reward, but it made sense to do so. And these only had seven days left to expiration. So we went ahead and made that roll. And so if we take a look at ES, let's go to the platform here. Here's the, here's the September one. So the one that's zeroed out, this is the one that we rolled out to October. We are still holding this September position and we're going to address that early next week. But this is so close to the breakeven point that I wanted to give it a little bit more time. Hopefully if by chance this market ever decides to go down again for us, we can get a little benefit from that here. So if we just go down a little bit, we'll probably close this one out or we may roll it, we'll see what happens. But we're going to give this a chance to redeem itself early next week. Hopefully get a little bit of downside action in the ES. And then the ones that we rolled out to October already is this one here. So this is the short call spread that we already rolled out. You can see it's right here where we rolled it. And so we're just waiting for a little bit more downside to benefit that piece. And then the other trade that we have on ES, and I get questions about this quite a bit because we have the iron condor trade on. So we have a couple of the short call verticals from those iron condors that we continue to manage. But then we also have a long put vertical that you see here. And that's a totally separate trade. And we really just put that on specifically for that additional short delta in our portfolio because it is the same symbol. Obviously we're managing those, you know, within the platform on the same symbol, but they are being tracked as separate trades in the members area. So for example, if you go to the closed trades, you'll see an ES iron condor and you'll see an ES long put vertical. So that's where you'll see the tracking between the two different trades. Next trade was a rolling adjusting trade in XLK. So we have a long put vertical here in XLK, which we also originally put on for that short delta in our portfolio. It's getting close here. So this is when we chose to roll today, roll that from September to October, change the strikes just by one strike. And so we'll continue to manage that and looking for some downside to benefit this one as well. Got a little bit of downside today after we put it on. So looking for a little bit more to benefit that piece. But again, we're holding this for that short delta for our portfolio and to keep on managing that ratio. Remember, the ratio that we like to keep with short delta is we like to have between one to one and five to one of short delta to theta ratio. So if our theta is $100 a day, the maximum amount of short delta we want to have is negative 500. Right now we're about four to one. So we're on the upper end of that range and so that's one of the reasons we added a long bias trade today, which I'll get to in a minute. But we're still well within that range. If we do have a huge move up in the S&P or in stocks next week, that is going to put a drag on our performance. It is going to hurt us a little bit. But obviously if we get some downside, that's going to really benefit us. Anytime the market starts going down, you always wish you had more short delta. Anytime it's going up, you wish you had less. But that's just part of the game. That's just part of trading and we'll continue to manage that ratio as we always do. And this is part of that. So just using it as kind of a hedge, kind of a downside piece to that overall portfolio. And we'll continue to manage that as necessary. And then lastly, as I mentioned, we added in a long bias trade to add a little bit of long delta in our portfolio. And this happened to be a pre-earnings long call. And this was in Costco. So looking for some IV expansion going into earnings and a move higher would benefit this trade. And so we'll see what happens. Looking for at least 30% profit on this one. If we take a look at Costco, we're right at where we put it on. So no profit or loss yet. But if we take a look at the chart, what we're looking at is, you know, I mean, Costco's had a really awesome run to the upside and now we're seeing it pull back. And so when we're adding long delta, that's one thing that I look for. So I was scanning through different stocks and ETFs to see if there's anything like that that had had a run up and then had pulled back recently to give us a little bit of a better point of entry. And so that's the only reason we're using Costco. There's no magic formula for trading directionally or anything like that. You know, this had a nice run up and now it's pulling back. Now we're going to see if we can get a continuation back to the upside. And the fact that we're going into earnings, we're looking for implied volatility to continue expanding. And if we get that, plus that price move, we can make profits pretty quick on these types of trades. So the only time we typically ever buy options is that pre-earning situation where it's leading into earnings and that implied volatility typically continues to expand. So hopefully we do well on that one. And so those are all the alerts. Let's go over some of the other positions here that I haven't mentioned, starting with oil, Ford slash CL. We've got this adjusted strangle on. We've got a decent amount of profit here. Just waiting for a little bit more profit before we close or do anything with this one. We are up a couple of thousand dollars on this oil trade already. And so we'll wait to see what happens. Implied volatility is still really nice here. So if I close this out, I would just probably re-enter very soon because implied volatility is nice and high. You can see that it's at the 74, 72 level. So I'm just going to continue to wait on this to see if we can squeak out some more profit in CL. Wheat, we've got a couple pieces on in wheat, one of which is a short put vertical that was previously part of an iron condor. Price came down, breached our downside break even. You can see where it is right now, still out of our range. Had a big move up today in wheat of almost 3%. So it's come back nicely. I needed to come back even more to get back in that range. And these options are in October, which only have seven days left. So we're going to address this early next week by either rolling or closing, depending on where we're at. And then the other piece to this is another full iron condor, which you can see is hanging out well within the range here, just looking for a little bit of upside and some more time to pass before we do anything there. Apple continues to be strong, it's down a little bit today, but you can see this was a long put vertical that we originally put on for some short delta in our portfolio. Price is way out of our range here. But when you get to a point like this where you're at basically max loss, there's nothing to do except for hold it. Because if we, you know, the only thing that if it continues to move higher, it's not going to really hurt us much more. But by some chance, if it tanks, we could make that back. So nothing to do except for hold here. Now these September options are down to seven days. So we will address this early next week by potentially rolling or closing the trade. But that's why we haven't done anything to this point. But once we get into expiration week, we have a higher likelihood of potentially getting a signed stock, which we don't like to do. It's not the end of the world, but we'd like to take care of things before expiration day so we don't have that, have that issue. So we'll address that early next week. I mentioned Costco. I mentioned DIA. I mentioned EEM. EWZ. We've got a couple pieces to this trade on here. Price is hanging out right here in the lower end of this range. So looking for a little bit of upside in EWZ to benefit that piece. And then we've got another full strangle on that has not been adjusted where you can see we've got some profit here, but not quite enough to take off yet. So just playing the waiting game in EWZ. I mentioned FXI. I mentioned IWM. IYR is the real estate ETF. We put this tight iron condor on here. You can see we've got about $115, $116 a profit. Just waiting for a little bit more before we take this off. I won't wait for the full 40% of max profit like we traditionally do with iron condors because this is much tighter. So we are going to take profits quicker. But we want, you know, $150, $200 of profit before we take this one off. Closer to it, probably if we got to $140, $150 of profit we'll take this off. So if we get there next week, look for a close there. If not, we'll continue to manage as needed. QQQ. We've got a couple sets of short call vertical spreads that were previously part of iron condors. You can see prices just outside the range here. These are all in September. So we've got two different sets in, both are in September still. We have not rolled those yet. We like to just gradually roll a couple here, roll a couple there, spread that out. So as price moves around, we get different roll entries and prices between the different symbols. So we'll be looking to roll these next week to A, extend duration on the trade and B, continue to keep that short delta in our portfolio that it's providing. SMH, I mentioned this one last week in the trade alert, but SMH traditionally had, we had taken it off of our watch list because it was starting to get really hard to get filled. It was hard to get our orders filled in. But the liquidity is back. So it's back on our watch list and we've got a position here up about 135 bucks of a potential 507. So not quite enough to take off yet, but we will be continuing to manage that. Hopefully we get some more theta decay early next week and we can book that one. And then Tesla, I already mentioned that. We've got this short strangle on in Tesla. And lastly XLK, which I already mentioned as well. So those are all the alerts. Those are all the trades in our portfolio. Look forward to another great week of trading next week. Everybody have a great weekend. Talk to you later.