 What's up navigation traders welcome to this week's video update today's Friday September 20th Hope everybody had a great week of trading. We're gonna go through the the alerts But before we do I want to jump in the community talk about a couple things one is The upcoming event so if you click on events And you'll be receiving an email about this as well, but we are doing a three-part strategy class on What we're calling the iron duck option spread If you just click on that events and then click here to save your spot I'll take you to the registration page or if you just go to navigation trading comm slash iron duck registration The dates are October 1st October 8th and October 15th Okay, so those are Tuesdays Tuesday October 1st Tuesday the 8th Tuesday the 15th 4 o'clock each of those days If you can make it in any way, you need to be there. This is I I mean, I haven't been this excited about a Strategy in a long long long time. This is this is something that's quickly becoming My favorite go-to strategy And just to give you an idea The the I've been I've been trading this with the criteria that we have set up I've been kind of working through the criteria working through that the nuances of this trade for a while And I've been trading it really heavily in and the account that I've been using literally in the last six months is up 50% and So and actually that's not that's not completely fair because I've been doing a couple of other things in that account as well So I can't give all the credit to the iron duck strategy, but it's a big majority of that return has come from the strategy so Make sure you're there. This will be recorded. It will be for pro members I'll obviously if you're listening to this you are a pro member, so it'll be put into your membership area Recorded and then we'll cut it up into sections to make it a little bit more digestible But it's it's awesome. So make sure you can attend if possible and obviously I want your feedback as well If there's anything that I need to do to record additional sessions to clarify some of the pieces It's a pretty cut-and-dry strategy though. I mean there's no roles no adjustments It's get in get out a little bit shorter term time frames So I think you're really really gonna like it So make sure you put these calendars on your date on your put these dates on your calendar. Don't want to miss it and and we'll be Talking more about it. There'll be emails going out, but if you want to get registered right away Go ahead and do that by just clicking on the events in the community. So That is that then the other thing is I want to just mention who got caught being hot this week This week goes to a kind of a newer member who's who's jumped right in into the conversations Not only asking great questions, but already, you know helping other traders answering their questions. Love it I love I love just the positivity of this community and where it's going. We're just getting started. We've got some Right now we're in the process of revamping our entire membership area Which includes the community and our alerts delivery. So it's gonna be awesome. So we're just getting started here So appreciate all the commentary all the all the feedback and all the participation in the community it is It's a lot of value for people more than you probably know especially for newer traders So keep up the good week good good work and this week goes to S. A. R. Not sure exactly what that stands for but that's what he goes by in the community. So say congrats to essay and Keep up the good work essay. Well, we love having you here All right, so let's jump into the alerts for the week starting with Monday the 16th Our first was a rolling Adjusting trade where we have the short call vertical in De now remember this is the one that started out as a long put that we're getting close to earnings and frankly I kind of messed up when I did our last roll and I turned it into a short call vertical But we kept it with the earnings on the horizon And so now it is a short call vertical and we're keeping it as such so we rolled that from September We were down to four days to expiration rolled that out to October with 32 and adjusted our strikes appropriately, so if we take a look at DE Down a little bit today So you can see we've made back a little bit since that roll So just holding on to this for that short delta exposure and by the way right when I just started recording this video Just before yes, and peas were up, you know five six seven points now all of a sudden they're down 12 sounds like China is Cut cutting short the trade talks and so the markets reacting in that fashion so Interesting to see what'll happen over the weekend So that's DE Next trade rolling adjusting trade in QQQ so a lot of rolls this week And we're in expiration week today is the last day of trading for the September equity options And so doing a lot of rolls here. This was in QQQ This one was down to also four days to expiration We went ahead and rolled this one all the way out to November So we skipped over October rolled this out to November with 60 days and adjusted those strikes So let's go to QQQ and the reason we did that is just again. We talk about this a lot We're just spreading out our rolls Spreading out our time to time to expiration. It's just another form of diversification And so this is the one that's out in November now We also have the one that we had already previously rolled into October and you know, that's made back a lot since we've done that So it's at a good point here where if it continues if price of QQQ continues lower We will look to roll these strikes closer and we'll roll this from October out to November But that's where we're at on those two spreads next trade opening trade in oil 4 slash cl so we put on a strangle in oil targeting 30 to 50 percent of max profit and We got out of this today. So we're only in the trade for four days Actually, we put this on Monday got out today booked over 30 percent of max profit and remember what happened to oil when There's that attack from potentially Iran or somebody we don't really know yet, but they attack the Saudi oil Refineries and and so oil shot up and then they came out and said no, we're good We're gonna be back to full capacity within a couple weeks with an oil dropped and now it's just been kind of bouncing around here But in the meantime implied volatility contracted So we got it when it was super high Contracted nicely just like we always say fear is overstated There's always a big overreaction in the markets and that's exactly what happened here Giving us the ability to book a quick 30% of max profit. I think we booked over 500 bucks on that trade Next trade opening adjusting trade on IYR. This is the real estate ETF So we added an iron condor in IYR at that point We were still hoard holding our short call vertical spread from a previous iron condor So we just went ahead and added this one to kind of spread out those break evens collect some more credit We're up a little bit on this trade since we put that on but just waiting for some more time to pass And as you can see that short call short call vertical is now zeroed out because we closed that today Today was the last day of trading instead of rolling it. You know, I don't I don't really have a bias You know, I don't think real estate's going down necessarily and so instead of rolling that and keeping that short delta specifically in the real estate sector We went ahead and just close that and so we're now we're just holding that iron condor Next trade closing adjusting trade in SPY so we close it We had a short call vertical that was part of a previous iron condor. We went ahead and close that out We just opted to exit and you'll notice I did a lot less rolling on some of these And just closed them out just because of where we're at with our overall short delta versus our theta So we're right at about we're a little over two to one on our short delta versus our theta beta weighted to spy And so I like I like where we're at. I don't want to really necessarily be any more short than that So I didn't so a lot of these Especially the specifically the three that we closed today, which I'll get to you We just went ahead and closed instead of rolling To go ahead and just get those off the books and we're in a good position with our ratio So I didn't want to carry any additional short delta. So that's what we did in SPY now We've also got a full iron condor going on in SPY and I see prices hanging out right here. So not quite enough to take off yet But we'll look we'll be looking at that next week if prices continue lower Next trade was a rolling adjusting trade in DIA. So very similar to what we did in the queues We just rolled this from September with three days to expiration out to November skipped over October and Kept to keep that short delta exposure in our portfolio and in going back to IYR I mean, you know, I like having this short delta in DIA and QQQ. It's more of a broad market index as opposed to a sector Index like real estate or you know something a little bit more specific. I'd rather have it in one of these broad markets And so let's take a look at DIA. We've got kind of a similar situation to the queues We've got the one that we just rolled into November where price is pretty close to where we put it on to where we rolled And then we've also got the one in October Which has moved down nicely and so again just like queues if it continues lower We'll roll these strikes closer roll that out to November, but just in hold mode at this point Next trade opening adjusting trade in KRE. So we've got We had a short strangle in KRE It's kind of nearing the the point of a potential adjustment and but we haven't rolled the puts up on that one yet But in this case, we just added a short strangle collect more credit Widen out those breakevens. We did this out in November where our other one is in October And so let's take a look at both of those In KRE. So here's the one in November that we just put on it's pretty dead centered Got a little bit of profit since we put it on just waiting for some more theta to decay and Then on the October one, you can see price is still hanging out in the upper end of the range Now remember it has breached our short strike here But if we look at just the put you can see there's still a decent little chunk of premium left in there So if it does continue much higher and and time has passed as well and time will continue to pass and so You know that that pink line will get closer and closer to the green line So once we get a little bit more premium out of that if it continues lower We'll roll up those puts if it goes back lower Then obviously we will be back in range and we'll be just waiting for some more time to pass So that's the plan in KRE Next trade rolling adjusting trade in XLK. So we just rolled this from September to October now There was no November options And so that's why we opted for October with 29 days and you know It just it helps kind of again diversify that that time frame that we're in so went ahead and rolled that adjusted the strikes If we look at XLK now You can see prices moved down since we did that roll. So we've gotten back some profit Since we did that just holding this for some more downside Downside action to benefit Next trade rolling adjusting trade in ES So this is the long put vertical head that we had in the S&P futures and we've been just holding this for that downside Downside protection moved down a little bit since we did this roll yesterday So just holding that for some more downside to benefit that piece Next trade a closing trade in SPX. So we had a weekly double calendar We were able to book a nice profit on that trade. I think it was six hundred and some dollars Five eighty yeah booked five eighty on that one So nice trade there and then we ended up putting on another one today, which I'll get to here in just a second, but Got out of that. Those are we were in that for eight days Booked booked a really nice profit there. So out of that one and then the next day Which is today we entered a new one, which I'll get to here in just a second Keeping in route with our other trades though I mentioned this one. So we earlier on Monday We put on a CL short strangle and then today Friday We closed it out booked over 30 30% of max profit in just that short period of time Next trade closing trade in EEM. So this is where we we put on just a long put Which where we don't buy a lot of options But in this case we're just we're looking for a potentially a quick move down and EEM That obviously did not happen. Actually, it was lower for a little bit and then it just shot higher So we ended up just taking a loss on this one if we take a look at a chart of EEM this is emerging markets and You know, so when kind of bounced up here looking for a potential Continuation to the downside and that did not happen. It just shot higher and then just been kind of consolidating so We we took a loss on that one, but we're out and Then next trade was a closing adjusting trade in IYR. That's that short call vertical that I already mentioned and Then XLF. So this was our last September position. Today is the last trading day So again instead of rolling we just opted to exit out of this and And took a took a loss on that trade and then just just to keep our short deltas where we want them Which is just over two to one on that short delta to theta ratio And then lastly we put on another weekly double calendar in SPX This one has seven days to expiration in the front week 21 in the back week and then So let's take a look at this now again I put this on this morning when the S&Ps were up about five or six and now they're down 11 So this is already moved to the lower end of its range You can see prices hanging out right here Shown a little bit of profit, but it's made a substantial move The other thing to notice is you can see where these price slices are This is where the original break even was when we put this trade on and now look at the break evens They've they've widened substantially and that's what happens when the implied volatility Expands with these things the market moved down implied volatility expands your break even and your max profit is going to get larger You know so unlike unlike an iron condor or those break evens in your max profit or static Because we're using different expiration cycles. We're selling the front week. We're buying the back week Though those are going to fluctuate throughout the life of the trade and that's what we're seeing here. So That is it for the alerts. Let's take a look at some of the other positions starting with gold We've got two different pieces in gold one of which is a short call vertical from our previous iron condor prices Just outside the range get a little bit more Movement down back into range there next week. These expire Next week, so we've got five days. So we will address this early next week. We'll either roll or close that I Like I like gold a little bit to the downside so we may kind of keep that dream alive for another cycle We'll see where we're at with everything and how that affects the rest of our portfolio And then the other piece that we have in gold is this other iron condor where you can see prices hanging out right here Waiting for some more profit before we do anything there Natty gas this has been a crazy ride But we're right almost smack dab back in the middle of our two sets of short strangles Just waiting for some more time to pass Before we do anything on those and they have got 38 days to expiration. So got quite a bit of time there ZB bonds so we've got two different pieces here. One is this adjusted strangle Where you can see let me spread this out for you You can see prices hanging out right here. We could use a little bit more up movement Before we do anything. We'll be either rolling or closing this once we get to about 25 to 30 percent of max profit on Here assuming price plays nice and and moves a little bit higher then the other piece here is a Strangle that we added to and So there's no adjustments done on either side of this one at this point But just playing the waiting game here waiting for some more time to pass on that All right, so now wheat we are this position is is well over 50% of max profit and you may I Surprised I didn't get any questions on this but wondering, you know why you haven't haven't booked this and really we're just waiting until Next week the next cycle is at 63 days to expiration. We're going to add another piece in there We're trying to get back to Profitability in wheat and so we want to we want to continue this so we are just kind of holding on this letting that Letting that additional theta we will probably add an iron condor in December in the December cycle early next week And then close out the November one. So just holding on to that. It's dead centered. I got a Got a decent amount of range for to move around in and not really hurt us as far as the slope of the P&L line So just wanted to hold this over the weekend potentially collect some more theta on that one Apple down over a percent and a quarter today. So move back down into range. Just holding this for that short delta exposure You looking for some more downside to benefit that I mentioned DE I mentioned DIA EWZ. We've got a short strangle Price was close to being at a point of adjustments come back down So just looking for a little bit more downside to benefit that short strangle I didn't add to this because implied volatility has been so low IV percentiles at 10 IV rank at 12 So I'm not gonna add in in a situation like that Goldman Sachs This was another one that kind of ripped higher on us where we had a short delta position So you can see this one's at a range. We need some more downside to move back into range on that one We're out in October. So we got plenty of time there, but just looking for some more downside to benefit that I why are I mentioned KRE QQQ SMH? All right, our good friend SMH. We've been in this one for a little while We've got this adjusted strangle prices hanging out here near the upper end of the range With with this recent down move that we're seeing right now We we are getting a little bit of an implied volatility pop So I would like to add to this early next week. We've got a lot of capital We're only using about 30% of our capital right now And so got some got some dry powder to release And so I'd like to add another kind of senator short strangle here in in November in SMH And we'll look at doing that early next week if implied volatility stays elevated. I Mention SPX SPY and XLK. So that's it. So those are all the positions. Those are all the trades Don't forget make sure you register for the iron duck option spread three-part strategy class first one is not Is October 1st at 4 p.m. But make sure you register to save your spot. I think we are limited to with our webinar software limited to 500 Which we've we've gotten close to that a couple times So make sure you save your spot look forward to seeing you there can't wait to show you the strategy It's going to be unbelievable. Talk to you then