 What's up navigation traders today is Friday, December 7th. Welcome to this week's video update Before we jump into the alerts for the week just wanted to point out something that we started doing in the community today every week we are going to post a recognition of Someone who's been contributing to the community posting helpful information answering other members questions And we're calling it who got caught being hot and it's all about helping other traders This week our main man Suresh jumped in and was extremely helpful He was actually the very first member to join our community. So Shout out to you Suresh kudos for for helping other traders and we really appreciate it That's what this community is all about is helping other traders And so we want to recognize those who who jump in and really go above and beyond And and and help other traders. So congrats on that and and we're just gonna be doing a couple little swag drops here and there So we've got some new trade hacker t-shirts both the men's version and the women's we've got coffee mug. So I'm gonna go ahead and drop one of those items to Suresh Thank you for being hot Suresh Congrats So let's jump into the alerts for the week. I did redo last week's video on Monday So we already covered in last week's video the trades on Monday December 3rd. So if you want to go back to last week's video, that's where those will be covered We simply closed out an iron condor in gold. We adjusted our EWW position We opened and added to our FXI butterfly and then we opened a Iron condor in SPY. So those were the Monday trades on 12-4, which is Tuesday We did a rolling adjusting trade in natty gas And so we simply rolled this out from January with 22 days to expiration out to February with 55 days Remember anytime we start getting around that 21 days to expiration Then we like to roll out to the next expiration cycle. We adjusted our put We we kept the call the same, but we adjusted our put from 4.1 to 4.0 and so that basically gives us a straddle right at that four strike and And so that's where we sit now in February. We had one more alert in that gas So when I get to that then we'll go to the platform Next trade was a closing trade in EWZ. So we had on a short strangle in EWZ Booked over 30% of max profit in less than a week. We were in that trade for just less than a week Big contraction and implied volatility gave us a chance to book that winner. So nice trade in EWZ Then the next trade was an opening trade in XRT We sold some premium in XRT, which is the retail ETF And so if we go to that the market had a pretty good size move right after we put that on So it's already moved applied volatility spiked and prices moved down So we're slightly what we are down on the trade, but still well within the range So just playing the waiting game in XRT as you can see We put that on right here and then boom the market dropped right after that So we are just just managing that trade and we'll continue to wait and see what happens there Nothing else to do at this point Next trade was an opening trade sold some premium in the bonds forward slash ZB So the IV percentile spiked up to 94 when we were looking at TLT, which is the corresponding ETF And as I mentioned you could do short strangles or iron condors in ZB ZN or TLT We just simply chose ZB for the for the leverage aspect of it in the buying power buying power efficiency So if we take a look at ZB This one is pretty close to Where it was when we put it on don't have a lot of profit on this one yet up about 75 bucks, but just waiting for some more profit before we take that off And of course so that was on Thursday yesterday, obviously no no trades on the fifth. That was Wednesday That was the morning national morning day for the deceased George president George HW Bush So the market was closed on Wednesday. So that was on Thursday and then our next trade on Thursday was our Our other adjustment to our Nat gas position So we did the same kind of thing with this piece we rolled it out from January to February and This one was was more inverted. So we rolled that to the same strikes and So that's we're now at the 3.1 call and 4.05 put and we're out in February So when we have an inverted strangle, meaning when our puts are higher than our calls That's what we call inverted and when we have an inverted we simply just roll those same strikes those inverted strikes out To the next cycle collect that credit and hope for some You know kind of mean reversion or you know price Movement back into our range. So let's take a look at Natty gas on the platform to show you where we're at So we've got the four strike straddle and you can see prices is right here So if we could get a little bit more down movement on this piece and then obviously Some time to pass some theta to decay Make back some of that some of that money in Nat gas And then our other piece is the 3.1 call 4.05 put And you can see prices hanging out right here So again still needs some more downside movement in Natty gas to really benefit that and we're just playing the Mechanical game of rolling collecting those credits along the way and and making back that What we've seen in losses in Natty gas if we take a look at the chart You can see obviously we had that big spike and then prices is really just started to consolidate in a range now And so we'll just kind of continue to play the game continue to collect those credits and rolls and adjust as necessary But that's that's all you can do in these in these situations We did have some good discussions going on in the community. So if you haven't seen those Jump in there, you know one member Jacob mentioned, you know Trading around the current kind of core position So we consider the core position that that strangle that we sold and we're gonna mechanically adjust that as necessary One thing that he did is is once he saw, you know price come down sold some more puts in anticipation of an upside move and to try to kind of enhance those adjustments to get you know Get back some of those losses And I think that's completely. Okay. The one thing I mentioned is obviously if if you know price comes down Then you try to sell some puts The the risk obviously is if price continues to lower if it would have slammed lower after that Then you're kind of getting double whammy on your original position and the new adjusting puts that you sold So there's nothing wrong with it as long as you understand the risk It's okay to kind of trade around these core positions to do so in regards to the alerts You know, we're simply gonna stay mechanical Collect those credits as we roll and make adjustments. But again, there's nothing wrong You know, I've really I've always encouraged you guys take ownership of your trading You know utilize our alerts as a way to see how we do it But there's nothing wrong with kind of adjusting and in trading around those current core positions. So Kudos to Jacob and great conversations in the community again, if you haven't been in there Make sure you jump in there. There's a lot of cool stuff a lot of cool conversations going on Next trade was a rolling adjusting trade in Apple So we've got this long put vertical on that we've rolled for several cycles originally But we put this on for that short Delta exposure and we're continuing to keep that on And oh and by the way kind of where we're at as far as short Delta goes We are still a little bit less than one-to-one on our ratio of theta To short Delta and so we are we do have short Delta. We've got about two hundred fifty dollars of short Delta We've got a little bit more than that in theta. So that's why I say we're a little less than one-to-one But I think you know still in a good position We want to have some of that short Delta on in case the market does continue lower But after the huge move, you know, we don't want to have a huge amount of short Delta on if we're playing kind of that Contrarian role, but we will continue to add short Delta as we see opportunities and we see it fit to do so So with Apple, let's go to let's go to Apple and show you where we are currently Apple, you know For a while to seem like it could not have a downtick and now it's really getting pummeled So it's which has helped our position out. So after we did that role, you can see here's where price is So just continue to look for a little bit more downside to benefit that piece Next trade was a closing trade in EFA. So this is one that we did put on for short Delta And we went ahead and closed this out booked over 50% of max profit on the trade I was looking at potentially rolling this to you continue to keep that short Delta in our exposure with with EFA but the the the risk return profile of Rolling it just it just wasn't in my mind. It was not worth it So we went ahead and just close that out booked that 50% of max profit And so we are out of EFA Next trade was a rolling adjusting trade in DIA So we've got two sets of short call verticals in DIA one in December and one in January With this one we rolled this one from December with 15 days to expiration out to January with 43 days to expiration And we were we were right around that near that 50% of max profit on that piece of the trade So it just meant made sense to lock in that credit roll out to the next cycle and roll our strikes a little bit closer to the current price So if we take a look at DIA Here's the one in December so we have not rolled this one yet We're you know pretty close to that 50% of max profit if we get a little bit more downside We'll do the same thing. We'll roll this one out to January But here is the one that we already rolled and you can see price is pretty close to where it was when we did this I'm sure why those lines get squiggly like that sometimes just the data feed from toss But you can see prices right there. So just keeping this on for that short delta exposure and And continuing to look for some downside to benefit that trade One thing I want to go back to the apple trade Because I there was a mistake in this alert So I said in the alert that we rolled from December with 15 days to expiration out to January with 43 That that's actually a little bit incorrect. So we actually we were in The December weeklies that had 22 days to expiration at that point if you remember when we did our last roll We I accidentally rolled to the weeklies I went ahead and just kept it because of the weeklies in Apple are super liquid. So there was no Liquidity issues or getting filled issues, but then when we did this roll we rolled from that Position of the December weeklies with 22 days out to January with 43 I did correct this on the alert that we posted in the community and I mentioned that exact thing But just wanted to go back and make sure everybody understood that here on this weekly update as well All right, so that's DIA and then Lastly the last trade and we did this today on Friday is we had a short strangle in 6e the euro We went ahead and closed this out booked over 35% of max profit Just 12 days in that trade. So good good trade in the euro So those are all the alerts. Let's take a look at some of our other positions oil playing nicely today So we've got two pieces to our trade in oil We've got this one here, which is an adjusted short strangle and you see with this up move in price We're getting back some some of those dollars in oil after that big move that that oil had So that's where we are here You know if we continue to get some upside movement in oil and we get to you know over 30 Plus percent of this max profit on this piece of the trade. We'll go ahead and roll that now With oil we've got we're in we're in the cycle with 40 days to expiration If we go to the continuous contract here to look at the other Pieces so March still has 69 days to expiration Which is a little little more than our wheelhouse of where we like to be But we make but you know next week as we get closer to that 60 days to expiration in March We may look to roll that from February out to March and and just continue to collect that credit in oil So that's that piece and then our other piece is the 56 60 And you can see we we've moved back into range nicely with this up move here as well So hoping to get a little bit more upside in oil Continue to let time pass let that theta decay and work our way back in oil Just like we are in natty gas. So after that huge move down just hoping for some consolidation in price Kind of staying steady to hire would really benefit what we're trying to do in oil Yes markets down pretty nicely today down 30 almost 34 points in the ES and right now It's only 11 25 a.m. Central. So still got a few hours before the market closes, but Markets continuing to see some weakness here. This is our ES position, which is a long put vertical Still holding this in December. Let me widen this out a little bit And then we get the squiggly lines again Anyway, we've we've got some profit on this piece of the trade But again, we're just continuing to hold this for that short Delta exposure So once we get to approximately 50% a max profit or so We will roll this one as well or if we get closer to expiration You know right now we've got 14 days. So once we get closer to you know that weekly expiration date Regardless of where price is We will go ahead and roll that out to the next expiration cycle Extend duration on the trade and continue keeping that short Delta exposure. I Whenever Nat gas I went over bonds. I went a wheat. So we've still got an iron condor and wheat You can see Decent move up today almost up 3% so we're pretty centered here. We've got some profit not enough to take off yet If we get to about 40 50% of max profit, we'll be back to right at about even on our wheat trade overall Which we've been battling this thing for quite some time, but it's been a fun fun little battle So just continue to manage our wheat position as needed. I mentioned Apple. I mentioned DIA EEM So we've got a short strangle on here and EEM. We've made several adjustments and rolls in EEM We're we're pretty close to break even on this trade. So just looking for some a little bit more profit on EEM before we do anything EWW we've got this adjusted short strangle here and it's pretty centered here We are in January which does have 42 days to expiration the Excuse me the February options Haven't even come out yet. So, you know, we can't we can't roll out to February at this point So we will wait until those are available and just continue to collect some more theta and let time pass and EWW and Then potentially roll again or close it, you know, depending on where everything is implied volatility It's still nice and high the percentiles at the 92 level So this is a symbol that we do want to be in we do want to have short premium exposure in So just playing the playing the waiting game and EWW for now Facebook we've got this adjusted strangle here Which is very centered just looking for some more time to pass some more theta to decay and Facebook before we do anything FXI we've got two butterflies on here. We've still got the put butterfly That's in our December cycle with 14 days to expiration. I think 14 is that right? Yeah, 14 days to expiration and then we've got our call butterfly out in January So if we could ideally Market doesn't always ideally do what we want But ideally if the market were to in FXI were to move down We would close out this one and then we've got our one out in January So just hoping the market does a little ping-pong back and forth action You can see this one is on the lower end of the range implied volatility did spike after we put this on So we are down a little bit on this piece but so looking for a little bit of downside movement on our December fly and a little bit of up movement on our January fly so just going to continue to manage those as needed in IWM we've got an iron condor. You can see it's Pretty centered no P&L on this piece of the trade pretty break even at this point So just waiting for time to pass more theta to decay and IWM and Then Netflix and Nvidia these are two trades that we put on for some additional short Delta exposure After we put this on price moved up significantly higher out of range has come all the way back in pretty close to where we put It on if we take a look at Netflix We put this on after we saw a little bounce and then it continued higher and then it's come all the way back down Into our range so just continuing to hold this for a little bit more downside before we do anything there and Then kind of the same story in Nvidia this one moved all the way out of our range has come all the way back down Almost to a point of where we you know, I mean we could have taken this off today but trying to keep that short Delta exposure and And well, you know if we get any more downside in Nvidia We'll probably just take this one off and book a winner or Depending on where we're at with with short Delta We may roll it and lock in that credit and and just continue to move our strikes a little bit closer to price So we'll see what happens next week QQQ Similar to DIA. We've got two sets of short call verticals One of them is in December still and we've got a little bit of profit there just looking for a little bit more downside before we make a roll in that one and Then our one that we already rolled out to January pretty similar got a little bit of profit But just could use some more downside to benefit that piece SMH the semiconductor ETF this one is pretty centered Just waiting for some more time to pass more theta to decay in SMH SPY We've got an iron condor on in here. Did I mention that one? Let me go back here real quick. Oh, yeah That was on Monday's trade. So that was covered in the last Last week's video update, but here's where we're at now prices move down So we're in the lower end of the range here, but still within range So no adjustment price actually breached our break even slightly but then came right back in So we're just we're just waiting on SPY if it moves back up We'll just kind of hold it if it starts to move lower again we may add another iron condor to center around the current price collect more credit and Continue to play the game that we do XLK Technology ETF again, we put this on for short Delta exposure prices come it's back into range here Just looking for a little bit more downside to benefit that and Then XRT This is the retail ETF We put this on and price came down and applied volatility popped up, but we're just still well within range Just playing the waiting game in XRT So those are all the alerts. Those are all the positions. I hope everybody has a great weekend. We'll talk to you next week