 Hey navigation traders welcome to today's update today's Monday December 16th Let's start off with the S&P 500. Where are we at? Well, we are strong again market just closed about 30 minutes ago on Monday and S&P's up 23 points hitting all-time new highs Impeachment we don't care trade war. We don't care. We're going higher. That's all we care about and so just another Explosive move to the upside Here's the expected move for the week and as you can see we've almost touched that already just out of the gate to the Upside implied volatility Continues to get annihilated We've got an IV percentile of one IV rank of one. I mean, there's just no juice in these options No fear whatsoever. So what are we doing today? Well, we didn't put on any new trades But we did close out a couple first being in our friend Amazon AMZN Booked a beak profit in the duck here. So this is one we just put on a few days ago right in here Got this rally quick rally got to a point where we had very little chance of getting back to the max profit area So we just took that money and run We'll redeploy that into other trades possibly Amazon again later this week Maybe Google I was also looking at Shopify and Roku today But I'd like to see a little bit of a reversion a little bit of downside a little bit of pop and implied volatility before we do So so we'll see if we get that later this week The other thing that we did today is we took off one of our pieces of our bond So we we just put this on a few days ago and implied volatility contracted Let's look at TLT to get an idea of the implied volatility here You can see it's really just contracted these last few days And so we took off over 30% of max profit on that trade within just a few days. So good deal there We've got another piece on still in ZB. So we'll we'll continue to manage that but we may jump back into bonds It's one of the only asset classes really now that still has decent high implied volatility along with natural gas and a couple others but Slim pickings for premium sellers right now, but we'll just we'll continue to stay mechanical we do have more cash on hand ready to be deployed than we usually do so definitely looking for some opportunities and We'll take advantage of those opportunities as they come But there's no reason to to push or rush anything. That's not there. The other thing this week is December Expiration week. So this is the last week of trading for those December options. We've got four days to expiration So Friday is the last day. So we've got three positions left in December in our portfolio So we will be rolling those the rest of this week. So look for that We just like to kind of spread out those rolls throughout the process So we don't do it all in one day or all at one price level and then Lastly we've got a few earnings this week. We've got FedEx on Tuesday after the market closes So we'll be looking at potential earnings plays on FedEx nice high implied volatility there on Wednesday, we've got micron MU is Reporting after the bell on Wednesday. So again some not great implied volatility But we'll see where that's at here in a couple days and then Thursday Nike the swoosh comes in for earnings So few that we're looking at kind of three of the last earnings before this earnings cycle is done So it's getting slim pickings on that. So obviously next year in January when earnings pick back up That'll create some activity if implied volatility is still low, but we've got a lot going on We do have the vote on the impeachment don't see that really move in the market too much unless there's a surprise, of course Uncertainty or surprises the market always reacts to but if everything kind of Plays out as everyone thinks it will with no actual impeachment then we shouldn't see much issues as far as volatility But would love to see something else create some volatility, but we'll see what happens. Hope that was helpful. We'll talk to you tomorrow