 Hey, everyone. Welcome to this week's video update. Today is Friday, June 16th. Hope everybody had a great week of trading. Let's go ahead and jump into the alerts from the week. On Monday, we didn't have any alerts. Just sent out an update. Really just kind of watching the NASDAQ for the most part. If we take a look at the QQQ chart, which is the NASDAQ ETF, you can see, remember Friday, we had that huge move down. Then Monday, I wanted to kind of see if we were going to get a continuation or just kind of stabilize a little bit. We did stabilize, so didn't put on a position in the Qs until Tuesday where we sold a strangle. I was looking at doing an iron condor, but just weren't getting quite the bang for the buck that I like to. So we put on a strangle so you can kind of see we're still very centered there. Not enough profit to take off, but we'll continue to monitor that. If we get a nice contraction in IV, we'll be able to take that one off. Next alert was in EWZ. So this was a closing trade. I made over 40% of max profit in just nine days on that strangle. So you can see what happened to EWZ. If we take a look at the charts, you know, IV had been nice and high after we got that big drop. We've been managing in and out of positions this whole time, and really a great kind of analogy of the trade to show how you've got to just be mechanical, continue to put trades on in periods of high implied volatility and take them off, manage your winners, and then with this collapse in implied volatility this week, we were able to get out of all of our EWZ positions and were able to do pretty well on that. Even after that huge move, still were able to come back within just a few weeks and be profitable in EWZ. So great trading in there. Let's see. Let's go to the next trade, which was a opening strangle in oil. So IV popped back up to that right around that 50 level, so we put on the 45-57 strangle in oil. Now today we actually took that off. Today's only the 16th, so we were only in that trade for two days, and if we take a look at the chart of oil, you can see just that nice implied volatility collapse, and we were able to book over 30% of max profit in just two days. So anytime we get 30% of max profit in 10 days or less, we're going to take that profit and run, and that's exactly what happened here. So that was a nice profitable trade there. Next trade was a closing trade in SPY, so I actually set this out in two separate alerts. So we had a double calendar on, and so the first was the 240, which we took off, and then we took off to 244. So I made about made a little over 15% return on the trade overall. Options expire this week. Today's the last trading for the front month for the June option, so we needed to get out of that this week, and so we were able to book a nice profit in there. And then same thing in TLT. We had two calendars. We had a double calendar in TLT. We had the 124 and the 126, and we took both of those off for a small profit. Same thing, getting close to expiration had to get out of those, and we're able to get out profitable in those as well. And if we take a look at TLT, just look at the chart here. You can see implied volatility is still very low, so going into next week we will most likely look to put on some additional calendar spreads if implied volatility stays really low like it is, and so look for that next week. And then adjusting trade in oil. So we had another strangle in oil. It breached our downside short strikes, so as we do mechanically, we rolled our calls down. Rolled our calls down from the 57 to the 47. So we still have that position on, and this is what that looks like now. So this is an adjusted strangle. We already took off the profitable call side, rolled this down, collected some more credit, give ourselves more time to be right. So if it stays in this nice little range here for the next week or so, and implied volatility continues to contract, we'll get out of that trade for, you know, try to book a small profit on that. And if it starts to move, we'll make the necessary adjustments as we need to. And then had an adjusting trade in DIA. So we originally had an iron condor on in DIA. So let's take a look at what's going on there. So it breached our upside break even, and it's still just kind of hanging out right near our upside break even. So looking for a little bit of a down move. Again, holding this, this is July. So we've got 30 some days to expiration here, 35. And so just continue to monitor this. Look for a down move to take this side off. Now, what we didn't do is a lot of times when I take off the untested side, like I did, we took off the put side and we leave on the call side. A lot of times what I like to do is put on another centered iron condor, to add some more, collect some more credit and widen our break evens. But with DIA, you know, I'm just, I'm not going to sell premium when implied volatility. The percentiles at three popped up to as high as like six or seven, I think, but not a good time to be selling premium in DIA. So that's why we just are leaving that call side on for now. And if we do get a spike, which would be in relation to a corresponding down move, that'll help both our positions, give us the opportunity to put on another trade as well as be profitable on this, on this current call side that we have right here. Next trade was a closing trade in QQQ. So we had been holding a call vertical and with that huge move down in the Q, in the Qs, gave us the opportunity to take that off. So took that off right in here when it, when it made that move down. And those options were getting ready to expire this week as well. So we were able to book a nice profit on that trade. So that was, that was excellent. Next trade was in wheat. So we closed the remaining call side of that July iron condor in wheat. So we took a loss on that portion of the trade, but we had also put on another iron condor. So still, still in this trade. And this is a, this big move up has, has moved it nice and centered into this trade here. So we'll continue to, to monitor that, not able to take that off, not enough profit in that one yet, but this will help make up for a little bit of the loss on that, on that last trade. So small loser, if we get out of this at 40% of max profit, be about a break even overall. And that's, that's how you do it. You know, you may want to take break evens or small losers on the losing trades and keep managing and booking your winners. And that's, that's how you're going to be profitable over time. And lastly, the last trade we did today was a closing trade, which I already mentioned where we booked that 30% of max profit in just two days in the oil strangle. So let's take a look at some of the other positions that we have on. We've got a position on in corn, which is an iron condor. And remember when, when implied volatility is kind of low across the board, that's, that's really when I like to go to some of these commodities that give you a good bang for your buck. And you can see here prices right here. So no profit or loss at this point, still well within our range. We'll continue to monitor corn and then soybeans. We've got this adjusted iron condor where we took off the call side because it came down and breached our break even just looking for a little bit more of a move up in soybeans and to get out of that one for a profit. And then simultaneously we had put on another iron condor, which you see here, still very centered, not enough profit to take off yet, but we'll continue to monitor that and do as needed. I mentioned we DIA EFA. So we've got the, we've still got this adjusted strangle and EFA looking for a down move. This is actually a position that we originally put on back in March. And so we'll, we've just been adjusting and rolling and collecting more credit. And so if we can get just a little bit of a down move down to about the 65 level right here, take that off for a nice profit and we will have been profitable in that trade overall. So just staying mechanical and in continuing to stick to the script is the name of the game in that. Microsoft, we've got this strangle in Microsoft. It was, it was almost to our break even, you know, almost to the short strike. It actually passed it a little bit, gave it a little bit more time. We had that huge move down in Microsoft along with the rest of the NASDAQ. So we're right back in the center here, almost to center, still well within our range. So nothing, nothing yet to do in Microsoft. And then I already mentioned the strangle that we put on in the cues still, still very centered there. So those are our current positions. We'll look to add potentially some more positions next week. If we can get some continued down move in the market, obviously that's going to create some higher implied volatility, give us more opportunity to sell premium. If not, we will look to probably get a little bit more directional with some individual stocks do some verticals and we'll look to potentially put on some calendars, which are good for low implied volatility environment. So have a great weekend. Don't forget Monday morning, Facebook channel and Facebook page and YouTube channel will be streaming live doing our trade of the week. We'll have our trivia contest as well, so make sure you tune in there and have a great weekend. Talk to everybody soon.