 What's up navigation traders welcome to this week's video update today's Friday, January 3rd This video is exclusively for pro members to go over all the alerts all the positions and we start off with who got caught being hot for The week this week goes to a member goes by the name of Jorge Castro hails from the great country of Portugal Jumped in helped answer a question about structuring an iron duck to a newer trader So appreciate the feedback always appreciate the comments and engagement in the community Congrats, Jorge. You got caught being hot Let's jump into the alerts Starting with Monday. So remember Mark was closed one day for New Year's and So we are gonna go over the other four days The 30th was Monday. We started off with an opening trade in Shopify So we put on a new iron duck with 18 days to expiration. Let's take a look at our Shopify positions. So Here's the here's the one that we had on already. This is a reverse iron duck You can see prices hanging out right here Right starting to enter that beak that duck head and that expires next Friday So hopefully we can kind of stay in this area and get a little bit higher and collect a duck head But the one we just put on from the alert on Monday is this one here. So Prices run up since then you can see prices up here Still got what do we got here? Let's put our calendar on the expiration date So we still have over 31 percent chance of potentially getting back into the duck head So not looking to take that one off yet But that's where we're at in Shopify Next trade rolling adjusting trade in XLK. So we had a long put vertical in XLK Rolled that out to the February cycle with 53 days to expiration at that point. So let's take a look at XLK You can see prices hanging out right here next to the breakeven So just looking for some downside action to get back into range on XLK Next trade opening trade in Amazon. So we put on a new iron duck in Amazon at this point with 17 days to expiration So let's take a look at Amazon. We we had a another reverse iron duck that expires today Friday We ended up taking that off ended getting filled for just under beak profit the the call spread Excuse me the put spread was five dollars wide So I just put in an order at 499 to see if we get filled for a little more than beak profit and we did I really didn't didn't think we'd get filled. I figured we just let it expire But we did in fact get filled so we're out of that piece and then this is the one from the alert so prices hanging out right here and Similar situation to what I was just showing you where we still have a decent chance of getting into that duck head In fact over 50 percent. Oh, excuse me. No, I need to move my hash. Yeah about 30 percent pretty similar to the other one So you're gonna hold on to this for a little while and again that that expiration is the 18th or The last trading day is is Friday the 17th Next trade closing trade in Tesla. So we had a an iron duck on in Tesla booked beak profit on that trade Price ran all the way up the duck beak with very little chance of getting back So we just went ahead and close that one out the call spread was two dollars and fifty cents wide So we got out at 249. So just just a slightly more than the beak is what we booked on that trade Next trade opening trade in rut. So we did a weekly double calendar in rut The front week eight days to expiration. So let's take a look at that So when I got up this morning, I Saw the S&P was down 44 I can't remember what the Russell was down but when the market open price was hanging out way over here next to the Downside break even and it's come all the way back up So I thought we were gonna get a little bit more fireworks today in the market but things have kind of calmed down after the news of the airstrike against the Iranian leader Military leader, you know, if we look at it's kind of Taking a little bit of a detour here, but if we look at the S&P You know, it was it was down all the way to about 3206 Actually the exact low was 30 at 3206 75 And it's paired back about half of its half of its losses so moving back up so Man this market, I mean it doesn't care what happens It's just shaking off any kind of fear any kind of uncertainty and just and just continuing higher But did give us a chance to a little bit more implied volatility expansion today to create a little bit of opportunity But but I thought this thing might have a little bit of wheels to it But and continue down but nope it just kind of rebounded back up, but we'll see what happens next week. There's Potentially still, you know more news that could come out of this situation. It may not be a an isolated situation But we'll see what happens And then in oil Oil was up over four and a half percent and you can see it's come down off of its highs as well In fact in in our kind of morning update on our current positions and potential trades that we were looking at I was thinking okay oils at four percent, you know, there's there's a lot of uncertainty here I thought for sure the applied volatility would absolutely Spike in oil, but I mean it expanded but I'd be percentile only up to 33 So we didn't we didn't sell any premium in oil today like I anticipated we might But still implied volatility going up So if we can get up a little bit more, we will definitely look to sell some some premium in oil Next trade closing trade in Amazon That's the one I mentioned that reverse iron duck that we closed out for the beak profit got out at $4.99 Opening trade in SPX so we did put on a new SPX iron duck today this one with 14 days to expiration So we've got one with seven and one with 14 now So let's go to SPX Take a look So here's the one that we the one that we just put on here You can see prices hanging out right here So pretty close to where we put it on and then the one that we have with seven days to expiration Is right here you can see price is has run up the beak a bit and just wait until next week if You know obviously if if price runs up higher and we have very little chance of getting back We might get out of this early. If not, we'll give it a chance to potentially come down into the duck head Next trade rolling adjusting trade in ZB, so we had a we have two pieces on in ZB. We had a 161 short straddle so it originally started as a strangle. We adjusted it into a straddle by rolling the untested side We got down now to 21 days to expiration So we went ahead and rolled that out to March with 49 days to expiration And then we're still holding our other short strangle in that same cycle So if we take a look at ZB Here is the 161 short straddle. So prices hanging out right here So just gonna wait for some more theta to the K on that component and then the the other one that we have here is the 159 call and And the 153 put so that's hanging out right here So kind of in the upper end of our range. So just playing the wait and see game in that one Lastly opening adjusting trade in 4 slash GC. So we added an iron condor in GC Gold was up about a percent and a half today implied volatility popped up a little bit more in gold so Made for a good time to to add to this trade. So we've got two different iron condors here This is the one that we just put on prices hanging out right here Now you'll notice that with the skew in here that we've got a lot more room to the upside Then we do to the downside and and that was just due to the skew in those options I went ahead and left it that I didn't adjust it. I didn't skew it one way or another to center that price I did that on purpose just because We have this other piece on That has all this room to the downside because prices hanging out right here in the upper end of the range now if price continues higher We will close out the put vertical side. So here's what the put vertical side So there's very little premium left in there So, you know, we could have done that today But I'm gonna give it over the weekend if gold goes back down into range Then we'll just continue to hold but if it does continue higher or kind of stay right where it is We will close out that untested side on that piece So those are all the alerts. Let's take a look at some of the other positions We do have a position in oil, but it's it's an iron duck prices hanging out right here with that run-up in oil I thought me I thought maybe even we would have a chance to take this off, but it didn't run up enough You know, we've still got 26% chance that it could get back to the duckhead. So we'll hold for now In ES we've got the long-put vertical that we're holding for that short delta exposure You can see prices right here right inside of our range Natty gas we've got two different pieces here. We've got this adjusted short strangle and Prices hanging out right here so we could use a little bit of up movement to get back into center If we take a look, we are 25 days to expiration. So we'll be rolling that out to the next cycle next week we've got a second piece that's already in the next cycle with 53 days to expiration and You can see we've got some profit on this piece But just waiting to get some more before we do anything on that one ZB I mentioned ZW we've got two different iron condors in wheat This one right here price got out a little beyond the break even Give it a little bit more time because it did have still a little bit of premium in the in the put vertical side And then prices come back down into range So just waiting and holding on to that one and then the other piece that we have another iron condor You can see prices fairly centered hanging out right here. So just waiting for some more theta to decay in that Apple down almost a percent today, but way out of our range. We're gonna end up rolling this one next week to get back to a positive theta position Apple just continues to be strong regardless of what happens But we're gonna keep that that on is short Delta And so we'll look to roll that next week see if we can finally potentially get a little bit of downside action in Apple to help us out Amazon I mentioned DE John dear we've got this short call vertical. You can see prices just outside of our range here Looking for some downside action to get back in there Same thing with DIA. We've got two sets of short call verticals One is this one in January hanging out right near the break even point And then our one that's in Feb is same thing hanging out right near the right near the break even Same strikes in Jan as we have in Feb. So those are very similar just spread out the duration on those at this point Google we've got a an iron duck in Google. So this one expires today after the market Don't be fooled by this goofy-looking P&L line Sometimes you get a bad print in there But we were trying to take this one off kind like we did in Amazon because there's a very little chance of it getting back To the duck head in this case 5% these do expire today but So we're trying to take this out off for less than you know to get a little bit more than big profit But didn't get filled so we're just going to let it expire and collect that big profit of 94 bucks in this case So by the time you're viewing this you will have already received that expiration alert IWM we've got a long-put vertical prices hanging out right here inside of the range QQQ we got a couple short call verticals similar to DIA. We've got this one in Jan Price just outside the range and we've got the one in Feb where the price is just outside the range there as well Roku we've got an iron duck in Roku. You can see prices hanging out right here in the duckhead area Hopefully it kind of stays in this range until the end of next week. You know, so we'll book about 575 is our max profit in there Rut I mentioned Shopify mentioned SMH. We've got this short strangle in SMH Pretty well centered just waiting for some more theta to decay in that one. I mentioned SPX SPY We've got this short call vertical prices hanging out Right here just inside of our range looking for some more downside to benefit that and I mentioned XLK So that is it. Those are all the alerts. Those are all the positions Hopefully we get a little bit more two-sided action volatility tomorrow and then you know that would obviously create some more Some more opportunity for us, but we will do what we need to do. Everybody have a great weekend Talk to you next week