 Hey, everyone. Welcome to this week's video update. Today is Friday, February 17th. Hope everybody had a great week of trading. One quick announcement. We are just done with our new course that's coming out and it's on Butterfly Spread. So really excited about this one. It's probably our best course yet. Worked really hard on it. And anytime I do these courses, I really think back about how I felt when I was a new trader and what I would want and need. So hopefully that comes through in the course. We are doing kind of a pre-launch special right now. So if you buy the course before March 1st, you can get it for just $49. So this course is not going to be on Udemy. It's not going to be anywhere else, except for on our site. At March 1st, it's going up on the site for the regular price of our courses. But right now, you can get it for just $49. So if you're interested in that, take a look at that. It's navigationtrading.com forward slash butterfly course. Again, navigationtrading.com forward slash butterfly course. So let's jump into the trades for this week. First trade starting on Monday on the 13th was a closing trade in FXY. So we banked over 50% of max profit on that trade. That was a really nice trade. Got the contraction in implied volatility. As you can see, this really just collapsed. Price stayed in a decent range here. So we collected that profit and banked it for a nice profit. So great trade there. Next one was in IBM. So we initially put a calendar on at the 170 mark. Price kept moving up. So we put on the 180. Then we finally got a little bit of a pullback in IBM and a slight expansion implied volatility, which benefits calendar spreads. And we were able to take both of those off for a nice little profit. Next trade was in XRT. And this is a trade that we took off. We had a strangle in XRT. Took that off for a nice profit. Now implied volatility percentile was still at 59. So a decent time to be putting on a position. But we just took that off and I was looking to potentially put one out in the next expiration cycle. But if we look at XRT, the implied volatility dropped on me. So before I even had a chance to get one on the next day, it dropped. So unfortunately didn't get in on that. And so now we'll just wait to see if we can get a spike back up before we try to reenter in XRT. In DIA, which is the DAO, we bought a calendar spread in DIA. And actually that was an adjusting trade. So we already had one calendar and we added another. So implied volatility is so low. Looking for an expansion to benefit in that. So when it got to our break even, we added another calendar. So now we've got a double on. Price is hanging around up here near our upside break even, but nothing to do at this point except for weight. Hopefully we get a little bit of a pullback in DIA next week. We could use a pullback in the overall market to help a lot of things. Let's see, next trade was a calendar in QQQ, which we closed out. So this was one that we actually took a small loss in. We adjusted it twice, got to the point where we only had three days left to expiration. And really, as I teach in the course, in the calendar course, you don't want to be in this trade much past that. That's even too late for me. I like to get at it quite a bit earlier than three days left, but I was hoping for a little pullback, but never got it to that point. So I took a small loss on that. So we'll just move on. Next trade was a closing trade in EWW. Had a strangle on an EWW. IV contracted, banked a profit of about 36% of max profit in nine days. Remember, on strangles, our standard kind of target profit mark is we want about 50% of max profit. But if we get between 30 and 40, I mean, if we get 30% in less than 10 days, I'm going to take that all day long. Or in less than 15 days, if we get 40% of max profit, I'll bank those profits all day long. So that's why we took that one off. Opening trade in TLT. So we put on a calendar in TLT. So in TLT, we actually have two different positions on. We have a strangle, which we haven't taken off yet. Hoping to take that off for a nice profit next week if we get a little bit of a move up. And then with implied volatility contracting the way it has, I entered, when implied volatility was down here at one, I entered a calendar spread. So we've got both a strangle and a calendar on. You can see we're down a little bit on the calendar, but it's still well within our range. So we'll continue to await and monitor that one. And then we also entered a new iron condor in corn. Now remember, I get this question a lot. So remember with the grains, which is corn, wheat, soybeans, you can't use the IV indicator because it's just not accurate. It doesn't get the appropriate data to give us a good reading. So ignore it on those. I really just watch the options. And really just in the current cycle, I just kind of watch the at the money options. And if their markets close right now, so that's not an accurate reading, but I've just got a good idea with so many days left, what kind of premium should be in there. And then with the spike up that we've seen in corn, a lot of times that will raise the premium prices. So a good time to sell premium. So that's why I got into the into the corn trade. Now it moved down on us pretty quick. So we're hanging out right here, nothing to do yet. But if it keeps moving down next week, we'll look to make an adjustment in corn and potentially add another iron condor on here to widen our break evens. So be on the lookout for that. Next trade was in FXE. So we closed this one for a nice profit. IV got down to 36, made about 45% of max profit on that one in 17 days. And then today on Friday, no opportunities to make trade. So no trades today. So let's take a look at some of our other current positions that we have on. We've got in natural gas, we've got two positions. We've got this adjusted strangle that we've adjusted a couple times. It's moving now down towards our lower, lower break even. If we get a move up, we'll take that off for nice profit. If it moves down, we'll look to adjust. So stay tuned for alerts on that. And then we've also got an iron condor in natural gas and prices well within our range here, nothing to do at this point, looking for a little bit of an up move to bank that profit. We've got wheat, we've got an iron condor and wheat, well within our range, nothing to do there at this point. I mentioned DIA, EWW, we've got a strangle on looking for a little bit of a move down. Not enough profit in there to take it off yet. So wait for a little bit more next week before we do so in EWW. And let's see, I mentioned TLT and XRT. IWM, we've still got an iron condor in. So looking for a down move in IWM to bank a profit in that. So nothing to do there. So that's all for this week. Hope you all had a great week trading and remember if you are interested in the new butterfly course, just go to navigationtrading.com forward slash butterfly, bring it up here on the screen, butterfly course. So navigation trading forward slash butterfly course. And again, this is a sale that we're doing from now until March 1st. So this course is only going to be on the website. It's not available on Udemy or anything else. So if you're interested in that, take a look. And if you have any questions, shoot us an email at info at navigationtrading.com. Look forward to talking to you next week.