 Hey everyone welcome to this week's video update today's Friday March 22nd We will be reviewing all of our trades and positions For the week but before we do that just wanted to jump into our community Each week we like to recognize a member of the community for helping other traders We call it who got caught being hot in this case This week I want to do something a little bit different instead of recognizing one person Just wanted to point out that You know our friend serenity posted earlier this week that a close family member is in a vicious battle with cancer And you know, I think cancer has affected everyone's life here at some point with a family member a friend or Hopefully not yourself But I just I just wanted to applaud our community for jumping in to really support serenity You know, it's not like there's a whole lot that we can do as a community compared to the Devastating situation that he's finding that him and his family are finding themselves in with this tragic event But hopefully our community serenity can provide just a little bit of normalcy during this During this time for you and your family So just wanted to applaud everyone for jumping in and kind of supporting serenity during this during this situation so Thanks everyone for doing that and serenity are you know our thoughts and prayers are with you and your family So hopefully things do get better. Although I know it sounds like you said that that it may not but Anyway, that's I just wanted to recognize that and and make mention of it again so thoughts and prayers are with you my friend and You know, we're here to do whatever we can to help With that let's let's jump into the alerts for the week We had probably a fewer number of trades than we've had Just you know based on our current portfolio and where implied volatility was But starting with the 18th on Monday Our first trade was a closing trade where we bought back our strangle in EA ended up booking a nice profit booked over 45% of max profit and And got out of that one nicely So if we take a look at EA the chart, you know, we got in back here when implied volatility was high as you can see price Just kind of stabilized and we got that contraction in implied volatility that we were looking for Got out earlier this week on Monday right here on the 18th and booked a nice profit 45% of max profit So shout out to big willy in the community for Bringing that trade to our attention and that's just the the power of our community. There's been great trade ideas Just a lot of good engagement. So keep up the good work everyone Next trade was a rolling adjusting Adjusting trade in 6 B, which is the British pound And so we just simply roll this out from April to May and we adjusted our puts up from 1.2 Floor up to 1.3 There's just 18 days to expiration as you know when we get down to under that 21 days to expiration that gamma risk Starts to accelerate in the last few weeks. So we want to roll out to the next expiration cycle And so that's what we did here in 6 B So if we take a look at At our platform here, you can see price is still pretty centered After the roll and so we're just waiting for some more and actually implied volatility is expanded So that's why you see there our profit line actually below the zero at this point But we're just waiting for time to pass waiting for some more theta 2 to k in our favor Next trade was an opening trade in J&J. So we jumped into a pre earnings long straddle They don't announce until April 16th. So we've got some time In this trade. We're targeting at least 20 profit on the trade I know this one kind of ran away after we got filled and sent the alert out The price kind of ran away on this one. So you had to be quick to get in here Or you know, you could have you didn't obviously need to get filled at the exact price we did I think you know implied volatility popped up. So we're up about 90 bucks on the trade Remember with these pre earnings long straddles We want, you know, the bigger the price move the better And of course implied volatility expanding helps our trade as well So we've gotten a little bit of a pop in implied volatility even though price hasn't moved much But if we can get a nice price move, hopefully we can book a nice profit on this trade Next we did a closing trade in MU. So kind of a similar trade. We had a pre earnings long straddle in Micron technology took a small loss on this trade. We had to get out before the earnings announcement We were hoping for a decent price move, but stock price stayed pretty flat So never got a chance to book a good profit in there and implied volatility This was interesting because you know a lot of times before earnings Implied volatility will expand and that's what we're playing for but in this case I mean implied volatility is contracted contracted contracted leading up to that earnings announcement And then of course you see the crush after they announced But we were out of the trade the day before right here But we just never got that implied volatility expansion and not enough of a price move To make that trade profitable. So lost under a hundred dollars. So small loss there Closing trade in BA. So this is a Boeing. You know, there's a lot of headlines around Boeing and the planes that they had to ground and a couple crashes. So Implied volatility spiked in there, but we jumped in and as I mentioned in the community You know in specific kind of isolated situations like this Fear and implied volatility is almost always overstated and so by doing this We're just taking advantage of that situation Put on an iron condor booked over 30% of max profit in just nine days. So nice trade there in BA if we take a look at the chart You know it opened on a this was on a monday after the weekend and dropped after the headlines about the the Boeing planes being grounded and then Obviously, you know implied volatility spiked and then it looked like things kind of Digested and price kind of stabilized implied volatility contracted nicely And so we were able to book that profit in just nine days Now price now implied volatility is popping back up today and price is going lower But so is the rest of the market too. I mean the s&p's at this point are down 46 It's 11 central a.m. In the morning when i'm recording this So we'll see what happens the remainder of the day. Hopefully this Market stays down That's definitely going to help a lot of our positions and give us a pop and implied volatility to enter new positions. So We will see what happens Next trade opening trade in disney. So we put on a short strangle in disney In in the may cycle iv percentile jumped up to 82 I mentioned iron condors can also be considered the the price is high enough. You know, this is a Over $100 stock and so buying those wings Is is definitely something you could have done could have done Earnings are a couple months away. So hopefully we can get out of this trade before we have to deal with earnings But let's take a look at disney And what you'll see here is you can see price Price came down which popped up that implied volatility We put on a strangle and implied volatility has actually increased since we put this on So, you know, we're still very centered. We're down just a tiny bit on the trade So just waiting for some time to pass See, you know, if we can get that Contraction in implied volatility and price to kind of stabilize in between our range here. That's what we're looking for Next trade a rolling adjusting trade in zn, which is the notes So price breached our upside strike and there's very little left Very little value left in the in the put. So we went ahead and rolled those closer to price Uh in these options in may there's still 35 days to expiration. So we're not rolling out to june We just rolled up our puts within the same cycle So if we take a look at that trade now We rolled that up to the same strike. So we are at the uh, 123 and a half strikes So basically a straddle now price has moved up even more since we since we did this roll and I wanted to mention this because Make sure you understand. So the fed came out on wednesday the the federal reserve Powell came out and mentioned that they were not raising rates during this meeting and Gave some very dovish language meaning They don't they don't uh, it doesn't sound like they're gonna raise rates at all anymore throughout the year of 2019 Now obviously things can change And they could still do that, but that's kind of the stance that they're taking at this point and so interest rates have a an inverse correlation to Notes and bonds. Okay, so if interest rates go down typically bonds go up And and vice versa. So what we're seeing with with notes and bonds. They're all going up because You know, so wednesday was was this day here. So after they announced that Uh bonds and notes went up then the next day it kind of took a breath and now up big again today so You know, we'll we'll see what happens, you know, this could be an overreaction prices could retrace Um, but we'll see what happens But just wanted to kind of give that that thought process and kind of why or Give those thoughts on kind of why this is is spiking because with it with interest rates not going up They didn't even necessarily Go down at the federal level But uh by staying steady that look that's a bullish for for notes and bonds. And so that's why we're seeing that spike there So what we're seeing here is is prices moved out of our range here But what we're going to look to do is see if see if price does settle down and if this wasn't overreaction Then price could move back down into range The other thing we'll look to do is potentially add another piece to this now In z n so we've got 35 days to expiration in the may cycle. So we got a ton of time In the on that trade in that cycle and then june is 63 days to expiration So next week we'll be getting under that that kind of our wheelhouse of 30 to 60 days So we may look to add another piece in june Take advantage of this spike in implied volatility kind of widen out our break evens overall on the trade and add a new Piece in june. So that's kind of the plan assuming implied volatility stays high Next trade was rolling adjusting trade in qqq. So we had two sets of short call vertical spreads Originally part of iron condors that we've just been rolling to keep that short delta exposure in our portfolio With the with with stocks moving higher until today Price had kind of really moved out of our range. And so You know, there's a very low likelihood that price was going to get back into range Although now with today's price move it looks a little bit more likely But what I did is is this was so far out of range that we were in a negative theta position So we went ahead and just rolled that to get back into a positive theta also keeps that short delta in our Exposure in our portfolio. So if we take a look, we've got two sets of short call verticals We just rolled one and this is the one we rolled out to may and you can see price has already moved down a decent amount Giving us a little bit of profit since the roll and then we're still holding our other piece in april Where you can see it's just barely out of range. So that's why we didn't roll this one And just hoping for a little bit of more down move to get back into range there So that's where we're at on the cues And then lastly we opened a trade in ewz Open this out in may with 56 days And implied volatility popped like it is in a lot of things today ewz popped up to 63 on the ivy percentile So we went ahead and sold some premium there You can see implied volatility has expanded even more. So if you didn't get in this trade You can actually get in for better prices at this point and you can see ewz down almost 5 percent today, which is causing that that spike And and so we're just selling some premium to try to take advantage of that situation So those are all the trades. Let's take a look at Some of the other positions oil big move down today down almost two and a half percent, which is helping our position We've got two pieces in our oil trades still This is our inverted strangle. You can see price coming back down Into our range. So getting back some profits on that piece. And then this is our 56 straddle So again price moving down is helping us in our trade Obviously, we would love to have this price come down right at 56 is our sweet spot And we'd be at a point where we're we're looking to get close to if it does that we're getting back to Close to break even on this trade after that massive move that we've been working out of in oil Yes, we've got a long put vertical that we've been holding for that short delta exposure Price had moved up out of range now it's coming back. I need a little bit more down movement to get back into range there Natty gas Natty gas is not moving in our favor today. We've got two pieces on here We actually need a little bit of an up move in that gas but still within range of our inverted strangle on this piece and then on this one here You know starting to Come down close to out of range here, but you can see if we look at just the calls You know, we've still got plenty of room to go there before we would need to make an adjustment So just holding steady in Nat gas at this point and we've still got 34 days to expiration in that cycle So a lot of time before we do anything in Nat gas I mentioned ZN ZW we've got two different iron condors on here one has four contracts one has three Anytime when the same cycle I like to vary those number of contracts really just for the purpose of Making it easier to keep track, but you can see price is pretty centered in this one hanging up kind of in the lower Quadrant of our range and then this one here Let's check these off and check those on you can see this one's hanging out in the upper end of this range So if we can just get a little ping-pong action going on in wheat that would be best and hopefully we can book a winner on both of these DIA we've got this short call vertical and DIA now with the down move today price is hanging out within our range back into our range So just holding that for that short delta exposure. I mentioned Disney EEM Down almost 3% today coming back into range for us And so just looking for some more downside to benefit that So we're we're about break even to up a little bit on this trade. So just holding that Hoping to get some more down move. I mentioned EWZ FXI We've got this tight iron condor which has come back into Back into range here. So just waiting for some more time to pass in FXI IWM I was actually hoping to get out of this one when price was way up here But price has run down with us. And so we you know, we'll we're so well within range nothing to do here But if applied volatility stays high and price does continue lower We may look to add Another iron condor out in the May cycle centered around where price is at that point IYR we've got this tight iron condor here price is coming back into range a little bit here So just playing the waiting game in IYR J&J. I mentioned NVIDIA man, this has been a crazy crazy move in NVIDIA Um, you know, it was kind of bouncing around here. We uh, we almost got out But waiting for a little more profit and then price just ran away from us to the upside now It's coming back down today. So it's back in range here We're almost to a point of making an adjustment when price was out here But patience paid off a little bit here So price back into range if we can get a little bit of continuation to the downside Hopefully we can get out of that one for profit I mentioned the cues SMH So we've got two pieces on here. This one we're looking at is an inverted strangle You can see price is way out here. So it's out of range However, if we look at the value of the puts remember after you make an adjustment Really, you've got to look at the untested side to determine if you're going to make another adjustment You can see we've got plenty of premium here still to go So not looking to make an adjustment on that piece at this time And then our other piece, which is a another strangle, which is has not been adjusted Uh, it was close to it as well, but price has kind of come back now And looking for a little bit more downside to benefit that piece. So just holding steady in SMH SPY We've got an iron condor on here prices back in well within range here after today's down move So just holding steady on SPY TLT did not treat us well We were looking for this one actually to add a little bit of long delta As we beta weight it to SPY And even when the market was going up We did not get the down move in bonds that we wanted and then of course after the feds announcement On wednesday that they're holding steady on rates TLT has that inverse correlation to interest rates as I mentioned So price has jumped up on us We're going to deal with this next week We're either going to roll it to get us back into a positive theta position Or we may just close it and take the take the loss You know if uh, you know if if uh, the feds stance on interest rates does hold true And we don't get a fairly quicker retracement It might just bode well to get out of this trade If if bonds do look like they're gonna tend to head higher You know, I don't I don't like to play trades based on news and announcements and things like that But you also got to be smart about kind of where we're at Overall from a from a cycle from a market cycle standpoint and kind of what You know, we want to be on the side of the trade that with with the least wind resistance, right? So we'll deal with that next week and and uh, either get back into a positive theta situation Where we'll roll adjust our strikes or we'll just close it out and take a loss on that one XL K Need some downside to get back into range on our XL K position Just holding that for that short delta exposure And then XRT we are we're in the profits on this trade by a little bit after adjustments I think we're up less than a hundred bucks, but uh, we're gonna let this one hold over the weekend If we get some more theta decay and maybe even a little bit more down movement We'll go ahead and close out of this one Our other option would be to roll out Uh, now implied volatility is popping up today But before today, I mean implied volatility is so low. So my preference would be to just close this one out Uh, see if implied volatility can pop even higher before we re-enter in the next cycle Uh, but we'll see where we're at next week and we'll either close or roll that one Now even even though, um, you know our XRT april position Um has well over 21 days to expiration if uh If we get this to catch up, I think we've got um, what do we got in april? We got 27 days So we're we're not to the point where we're getting down to 21 where we have to roll But uh, you know, we're definitely in our wheelhouse in may So if we wanted to roll this XRT position out to that point, uh, we could do so Uh, but we'll we'll more than likely just close it out if price kind of stabilize and uh an implied volatility contracts into next week All right, that is all the alerts. Those are all the positions. Hope everybody has a great weekend and we'll see you on monday