 What's up navigation traders? Welcome to this week's video update today's Friday, January 17th Before we jump into the alerts, let's check out who got caught being hot this week goes to our friend Alex s who's Been pretty active in the last month and just jumping in sharing trade ideas Helping out other people so congrats Alex. You got caught being hot We jump into the alerts starting with Monday the 13th Let's see the first trade we did was an opening trade in Tesla So we opened up a new reverse iron duck in Tesla if we go to the platform Tesla has you know had this huge March hire and then is pulled back a little bit But we put this on On Monday and so if we take a look at our trade here, you can see prices come down off where we put it on Down into the beak Still got a decent chance of of getting back into the duckhead the one thing to remember on this one so these options expire on to one and I didn't realize and it's still not confirmed but Tesla's Set to announce earnings on 129. So that's before the expiration date So if if we get a little bit of down movement in Tesla early next week We'll probably just take this off and book book the big profits The problem with where it stands where they announced before The expiration is you know, let's say price runs up this week and it's you know hanging out in here Well, then you know price is gonna be hanging out right here before earnings and doesn't give us that big buffer Like we like to see and so we'll just have to make a decision Whether to take this off before the earner earnings announcement before before expiration or what we want to do but Right now it's hanging out here and if it moves even if it's not down to our normal You know 10% chance or less of getting back to the duckhead we may take this off early I just booked that beak profit, but we'll see what happens next week and we'll send an alert once we do that next trade closing adjusting trade in GC so we closed out our one of our iron condors in gold booked almost 40% of max profit on that piece of the trade and then we're still holding our Other piece. So if we take a look here, it's the short call vertical where you can see prices just outside of the rain So if we get a little bit of down movement back into range in gold, we can close that one out Ivy is decent if we take a look at GLD the corresponding ETF. You can see Ivy percentiles at 44 You know, I mean, that's that's one of the highest on the board So we wouldn't be afraid to add a new kind of centered iron condor Around the current price But we'll see where that shakes out and then if we look at the options of four slash GC This has 39 days to expiration And so we've got a lot of time with that short call vertical to get potentially back into range So we may we may wait until you know, these get down to more closer to that 60 day range before we add one and then we can add it in that next cycle to kind of diversify those but We'll see. We'll see how quickly, you know price moves and whether it moves back into our range or whatever But that that's kind of the plan in gold Next trade closing adjusting trade in ZB So we closed that one set of our short strangles booked over 35% of max profit on that piece and then we're still holding that 161 straddle and So let's take a look at that you can see prices hanging out right here We widen this out so you can see a little bit better Right here on this hash mark. So we will be looking to add to this potentially to if we look at TLT Well the implied volatility has come down a little bit, but again, it's still one of the higher ones on the board So we would potentially add to this of course would be a nice if we got a little bit of a spike up implied volatility before we did So but we will look to potentially add to that one and if we'd look at the options kind of like we just did in gold If you take a look here, these have 35 days to expiration and so let me get to the continuous contract here To look at all the expiration cycles. So that one's got 35 the next one's got 70 So we could potentially add in March or you know, depending on what price does early next week We might wait until this gets down to closer to 60 before we add to it. So we will see what happens there Next trade closing trade in Amazon. So we closed out our iron duck in Amazon booked a beak profit on that one It's a situation where price ran higher with very little chance of getting back into the duck head So we just went ahead and close that out Booked those profits and ran Next trade closing trade in Tesla. So we had another reverse iron duck on in Tesla Unfortunately with that big move higher price came through our break even so we needed to exit So we just we just closed that it exceeded our exit point. So we we took a loss on that reverse duck Next trade closing trade in booking. So we had a regular iron duck and booking Price ran higher booked beak profit on that trade Then we did a rolling adjusting trade in DIA. So we've got our two sets of short call verticals We went ahead and rolled this one. This one was in January had only three days to expiration We skipped over February and just went out to March with 66 days Remember we we typically like to be in that 30 to 60 day range But when you're looking at like these short Delta plays for example, you know going out a little bit longer It's not a big deal. So we went ahead and just did that to extend duration Kept adjust our strikes and now we're at the 289 294 So kept that short Delta in our portfolio. So let's take a look at that on the platform Take a look at DIA We've got these two different sets So we've still got the one in February and so that you can see prices out of our range there You need some downside to get back in and then the one from the alert that I just mentioned is right here So price is just outside the range. So again needing some some downside action to get back into range there Speaking of downside action that just hasn't been a part of the world that we live in lately Here's here's the S&P, you know going back to the beginning of December and nothing nothing but upside So hopefully we get a little bit of a pullback soon. That would definitely help help out our implied volatility opportunities as well as of course our short Delta positions Next trade opening trade in Beyond Meat. So we put on a reverse iron duck Beyond Meat Let's go to the chart real quick before I touch on that trade BYND So you see we had you know, they the impossible came out and announced that they were Coming out of the pork product They also said they were gonna focus on that as opposed to going after like a McDonald's Which in turn helped the prospects of Beyond Meat and we just saw it just a parabolic up move And then it just it's come it came down pretty quick after One of the banks downgraded it and so now it's just kind of chopping around but we so we put on this Reverse iron duck on that up move and the very next day after that after it kind of collapsed off of its highs There's a very little chance of it getting back to the book Duckhead so we just went ahead and booked that booked a booked a quick beak profit overnight on Beyond Meat Next trade opening adjusting trade in Natty gas. So we've got two pieces on here We had our one inverted strangle and we went ahead and added another applied volatilities continue to stay decent in Natty gas making it for a good vehicle to sell premium in So here and we've got a Nat gas is down about 3% today and by the way at the time of this recording It's only about 1230. So we've got a couple hours left before the market closes But here's our two positions in Nat gas Here's the one that we just put on and after the down move in the last couple days We you can see it's hanging out right here and then our inverted piece is hanging out right here So price is outside of the range, but if we look at just the untested side just the calls You can see there's still a there's still a good chunk of premium left in those options So we're not looking to roll down our calls yet But if price continues to slide lower next week, we may look to roll those calls down and continue to collect that credit Next trade rolling adjusting trade in DE so this was our last remaining January position There's only two days to expiration and so we went ahead and rolled this out to feb with 37 and Adjusted our strikes to the 175 180 to keep that short Delta exposure And so let's take a look at DE you can see price is still right sit out right inside our range here But just again holding this for that downside short Delta exposure Next trade closing trade in AZO, so we had an iron duck in AZO price ran higher Just booked that beak profit in there because there was very little chance of getting back to the duck head Now that was one that was and let me just take a look at this for you AZO is not the most liquid stock. It's a it's a high-priced stock, you know, it's over a thousand dollars It's over it's 1148 right now And so, you know, that's a great size to trade these iron ducks on the problem is the implied or the Excuse me the open interest. Let's just go to the 14-day weeklies The open interest is pretty sparse, you know We like to have it be in the triple digits and the hundreds or more you got some in the double digits A lot of these in the single so and the bid ask spreads are they're actually not that wide compared You know comparatively speaking for a thousand dollar stock, you know Being a buck wide isn't that bad But the open interest isn't there. So it's a little tougher getting filled So you really have to work these it's not something that we want to trade every day But it just happened, you know, we were looking for opportunities with with implied volatility being as low as it is and AZO fit the bill so we went ahead and Place to trade in that and then we went ahead and closed it out and just booked that beak profit. So Good trade in AZO next trade closing trade in CL so we had an iron duck in CL We were close to to the duck head But price just kind of hanging was hanging out right near our break even on expiration day and so we went ahead and just closed that out booked a tiny profit but Had to get out because it was the last trading day Opening trade in rut. So we put on another one of our weekly double calendars in rut. It's doing well right now It's up 160 some bucks and this one we put this on with eight days to expiration It's now got seven in the front week. And so we will look to potentially take this off next Thursday or Friday and So prices hanging out right here dead center So hopefully it kind of bounces around in that range and we can book a profit there Next trade closing adjusting trade in ZW so we had two Two pieces on in ZW had one short call vertical and then one full iron condor took the full one off booked 40% of max profit on that and then we've still got the short call vertical with eight days So we'll be doing something with that in the next week. So let's take a look at ZW Prices outside the rain. So we need a we need a pretty sharp move lower to get back into rain So we'll probably just close this out got a couple of questions in the community of you know Are we gonna roll this and the answer is no, I mean typically the only time we're going to roll and in the money Call vertical is if it's a short Delta play and we want to keep that short Delta in our in our position I don't have any bias in wheat, you know I don't I don't want to keep short bias in wheat for any specific reason It doesn't really do much for our overall portfolio So most likely we'll just close that out take a loss on that piece and then just continue to Add to this so early next week. We'll probably look to add a another kind of centered iron condor around the current price And then close out our current short call vertical. So that's the plan in wheat Next trade opened up a new iron duck in SPX This one with 20 days to expiration. So just kind of laddering in here. We've got two Iron ducks in SPX now. So if we take a look Here's the one that we already had you can see prices up here if we put our price slice right at the edge of the Beak here You can see we've got about a 15% chance of getting back to the duckhead So if price kind of stays here or moves higher next week, we'll probably just close that out book that beak profit And then the one that we just put on is this one here where you can see it's pretty close to where we put it on, you know, still Still a let's adjust our dates here to two six Still a still over 30% chance of getting back to the duckhead. So in good shape there Closing trade in Google. So this one was a this one was pretty frustrating. So that we had a reverse iron duck on in Google Price move higher, you know, it was past it it shot up this morning. And so we had to close it out Took a took a loss on that one. We take a look at a chart of Google oops Let's go to charts GOGL You know, so we so right here, I mean in the last 20 minutes of trade yesterday Price kind of shot up a little bit and we were outside of our break even right right at the end of The day real close to our exit point and then we woke up this morning and and Google shot up even higher So, you know, that's just that's part of trading. We got a kind of stick with the mechanics But ended up taking a taking a decent loss on Google So a little bit frustrating because we you know on on Thursday, you know It's looking like we had a chance if it just came down a little bit We would have a chance at a full max profit duckhead instead It went the other way and and shot higher on us. So that is just part of the game, unfortunately Next trade closing trade in SMH. So SMH implied volatility has really dwindled in there To a point where you know down to zero on the IV percentile So we were over 50% of max profit on the piece that we had on and with and we've had this on went on with all adjustments Going back several months. We ended up booking a profit on the trade So we went ahead and just closed it out instead of Continuing with implied volatility as low as it is. We went ahead and just took profits in SMH Lastly we opened a new trade in Boeing symbol BA did a pre earnings long straddle Just targeting about 15 to 20% on this trade. They do announce earnings on 129 before the market opens So we want to exit by 128 So let me take a look at BA and show you kind of what the thought process was behind this one so Prices come down significantly since we put this on today But price was hanging out right here and implied volatility, you know head contracted It was closer to around the 60 range at the time that we put it on today And so the the thought process was okay price has really been consolidating over the last couple weeks Implied volatility has contracted Significantly like I said, it was it was down to about the down to about the 60 range at the time We put this on today. So implied volatility contracted significantly price had really consolidated in here So remember a pre earnings long straddle benefits from a decent price move in either direction and Implied volatility expansion now implied volatility typically likes to expand Going into earnings. So if we can get that IV expansion as well as a decent price move Which we're getting the start of right here, then that's what's going to benefit this trade So if we take a look here, you can see we just put this on this morning It's already up 120 Some dollars and obviously if we continue lower and implied volatility continues to expand that is what's going to benefit us So we put this on total Total cost about $1,600 in buying power and so 15 to 20 percent of that, you know if we can get 300, you know or more dollars on that before we have to exit that is kind of the plan on BA That's it. So those are all the alerts. Let's take a look at some of the other positions Yes, we've got this long put vertical that we're holding for short Delta just outside the range So looking for some downside to get back into range there. I mentioned gold. I think yeah We're gonna look to potentially add to that one next week Maddie gas I mentioned bonds. I mentioned wheat Apple Continues its climb. We've got this long put vertical on need some downside to get back into range there That one's out in February. So we got a decent amount of time still have 35 days Till those options expire so holding holding on there BA I mentioned DE I mentioned that one DIA I mentioned IWM we've got a Long put vertical here price is just outside of our range on this one So need a little downside to get back in again another short Delta position Same with QQQ. We've got two sets of short call verticals This is this is one of them prices hanging out right here near the break even and then the other one here prices outside So in this one, you know, because we've got a lower Probability of getting back into range and we want to get back to a positive theta position We'll probably look to roll this one next week Rut I mentioned SPX I mentioned SPY another short Delta position here Short call vertical that was part of a previous iron condor. So we will look to Roll this here Wait for it to get closer down to expiration, but if it moves much higher, we will potentially roll that one out to March Tesla I mentioned that one and lastly XLK another one that we need a little downside action for so You know, hold on. I mean this this run in the market is just it's pretty crazy So, you know, if we can just get a little bit of a pullback It's gonna make a huge difference on some of these short Delta positions So you got it. You got to keep that for that downside risk for that downside exposure When you're selling premium like we do, of course, it hurts when we when we get this upside Now keep in mind along those lines. We are getting ready to release our newest strategy course It's called the portfolio bunker strategy The date is January 28th. We'll be posting this next week but January 28th at 4 p.m central time is when we'll be presenting and It's all about protecting your portfolio and it's gonna be a way that's gonna allow you to protect your portfolio from from huge volatility, but it doesn't have that drag on your performance when You know when we see these huge extended moves like we've seen so Make sure you can attend again January 28th 4 p.m. We'll be emailing and posting more details You'll get plenty of plenty of notice about it But I just wanted to give you you guys as pro members of heads up here And I look forward to it. It's gonna be it's gonna be a great strategy to Compliment the rest of our strategies, you know, we the one thing, you know for selling strangles Even if we're doing iron ducks, which have a huge downside buffer You know, we still have that tail risk, right? We still have that black swan risk if things get really crazy and so That's what this that's what this strategy is all about. It's a it's a portfolio protection strategy And that's why we call it a bunker because it's protecting us Or we're able to hide our portfolio in it to to minimize damage if if something crazy happens So look forward to sharing that with you. It's gonna be exciting stuff Everybody have a great weekend and we'll talk to you next week