 What's up navigation traders? I want to show you a trade example that we're doing in XRT So we've currently got this adjusted strangle on in XRT. It's in the March cycle, which currently has 17 days left to expiration So remember once we get under that 21 days to expiration The risk or the gamma starts to accelerate so on these uncovered or naked option positions We want to roll those out to the next expiration cycle to extend that duration and minimize our risk So that's what we're gonna do here. The other factor to look at is if we look at the chart You can see the IV percentiles at 96 IV rank at 46. So IV is very high So the thought process is if we didn't have a current position on an XRT Would we be adding a new one and the answer is yes Look liquid options high implied volatility a great candidate to to have a position on in a short strangle or some type of Short premium position. So the other thing we want to look at is this is an adjusted strangle and If you look at just the call side What you'll see is all the almost all the premium is out of that So if this if this XRT continues to move lower those calls aren't really benefiting us much So we would want to look to roll these down anyway, and in this case since we're rolling out to April We can do it all in one transaction. So let me show you how to do that. So we're simply going to highlight The trade right-click. Oops Highlight the trade right-click Create rolling order Sell the double diagonal again Don't pay attention to the fact that it calls it a double diagonal. We're essentially just closing out the current position Rolling it out to the next monthly cycle, which in this case is the April 20th cycle And then remember the other thing we want to do is the calls that are currently at 48 We want to roll those down to about the 46. That's gonna allow us to collect more credit It's going to give us the ability to to add some premium to these calls since these are already Basically dead. We've already gained as much profit out of those basically as we possibly can So we want to roll the calls from 48 to 46 Okay, so remember the current position we're closing out the 46 puts in the 48 calls and we're re-entering in the in the next cycle and at the short 46 calls and for short 46 puts So we're essentially rolling out to the next expiration cycle and we're rolling the calls down to strikes and by doing this It gives us a credit of about a hundred and Pregate filled about 158 If we if we move this back to the 48 where originally was now look, you know, we collect a much smaller credit So by rolling these calls down Out, you know out to the next cycle, but also down to the 46 strike. It's giving us a much bigger credit So when we do go to close this trade, we're gonna benefit from that assuming price Plays nice and stays in our range So I hope that helps. I'm gonna go ahead and get filled on this and we'll see you in the next lesson If you'd like to learn more about how we've taught over 10,000 members how to trade options for consistent income Just go to our site navigation trading comm click on the big orange button And we'll give you immediate access to our flagship course Trading options for income will also give you the navigation trading implied volatility indicator that you see on our charts Along with the watch list that we use to trade the most profitable symbols day in and day out All this is yours. No cost. Just go to our site navigation trading comm and we look forward to seeing you on the inside