 Hey everyone welcome to this week's video update today's Friday, March 27th We're gonna go over all the alerts all the current positions just for you pro members And before we do that, let's jump into the community and talk about who got caught being hot So this week goes to our friend Robin H Robin's been with us for since I think November of last year and just been consistently Providing value sharing trade ideas answering other members questions asking great questions. So congrats Robin. You got caught being hot Also before we jump in I posted it in the community this morning We're considering it moving the community platform to to a new platform and It's it's a little bit more of a forum style and there's been some you know discussions complaints kind of issues with The current community where you know kind of auto defaults to your What they call personal feed instead of showing everything. So I know some people had questions about missing different posts and notifications and things like that it there are ways to make sure that you With the bell, you know, make sure you receive notifications, but there are some other little quirks We just one thing is we don't have any control over the current community is kind of out of the box Platform and and you just kind of got to deal with how it works and it's been great But we're always trying to improve and so we are just we're looking for feedback it's not a hundred percent sure that we're gonna switch over but But there's a couple benefits one is with this with this new platform One like I said, there's no news feed So you can easily just go to the different topic you want to see and it'll It'll notify you and a new post comes in and you can really have a detailed customization over how you receive notifications The other thing is it's very Developer friendly so our developer can jump in And you know create or tie in other applications and things So there's a lot of potential that we can do with it and it's pretty, you know clean cut easy to use very user friendly So if you haven't already jumped in here feel free just give us Give us some feedback if you have any we really value your opinions just because you know This is obviously for you. We want to make this the the best most frictionless easy to use And and and most importantly make sure that you are Engaged now one thing it doesn't have is you know the mighty networks app Which is the current platform has a great app if any of you use it on mobile. It's very easy You know keeps you logged in so you don't ever have to log in again One of the problems with it though is there's no integration with other platforms So, you know, we have the the community platform which has one sign in we have our membership Which has another sign in and so once you once you kind of get on board and figure it out It's it's not too bad, but I know it's it's especially confusing for new members coming on board. So just want to get everyone's feedback and You know, this is pretty bare bones. We basically just set up some topics and A couple posts in here, but it's pretty bare bones right now, but a lot of potential. So Let us know what you think On that note, we also are going to be rolling out the new membership platform And so this is what that looks like. So we've you've got a dashboard here and So you'll you'll have, you know, your navigation alerts your your course that you can go to all the different strategy courses We're we're just going to put them all into one called the pro member master course It's a pretty sleek design as far as for viewing the videos If we take a look here at a quick example Come on come on come on load up load up but basically, um, you know, it's a it's a lot better just from a Usability than our current membership platform. And so Go through and click on the different videos Nice, you know, much better video player and that kind of thing um, and then We've got, uh, you know, all the you know, the downloads watch list trade tracker Link to the community. We're we're going to have a live stream and chat room So if you click on that or we'll we'll go live a lot more different topics and presentations where you can Chime in by chat and all that good stuff The other cool thing is the alerts and so this is actually what's been taking the longest is It doesn't look like much but the amount of development that goes into it integrating in the back end to deliver these the way they're going to be delivered is is pretty complex, but Uh, the look and feel I think is is much better. You know, it's gonna have what type of trade rolling opening Closing whatever the symbol initial strategy. It'll have the toss string here Uh, the trade comments ivy percentile days to expiration Uh, and then and then the biggest improvement is really these legs. So Uh, this is gonna come both here in the membership area as well as by email So, you know, we get a lot of questions, you know, when you see the toss strings, especially for newer traders, you don't really know What that means unless you can copy and paste it into toss or if you're familiar with the strategy Uh, so we're going to break it down to show you exactly what the legs are You know, so sell a call that the 80 strike sell a put at the 95 strike and so forth and so on So it gives you exactly what we're doing to make that a little bit more easily interpreted and then of course Uh, we've got the current positions and closed trades So you'll always have the ability to see the screenshot And exactly where we're at with the different positions So that's pretty cool. Uh, then we've got some more stuff coming. Um, you can you can update your profile and things here Like any membership platform should unfortunately the current one is just a little archaic and so it doesn't so That's gonna be nice. Uh, so anyway, um, that's what we've got going on And then like I said a lot more stuff coming, but this is kind of the initial stuff It's taken a lot longer than expected, but it is coming soon. So Uh, let us know what you think and then, um And then let's go to the alerts One other thing question, uh, that's come up in the community Especially on a couple of these bunkers because we haven't done too many of them is You know, what are the what are the strikes? So remember under current portfolio here in the membership area, we always post the screenshot and it's got the strikes down below there So you can see those so, um, I know there's been a lot of questions There are several questions in the community about which strikes and you know, you know just from the toastering It was a little confusing. So always make sure you check there if you have that question And let's jump into the alerts for the week starting with Monday, which was what was Monday the 23rd? Yeah So first trade rolling adjusting trade in xlk So we had a long put vertical and we we rolled this from april to may And then just adjusted our strikes as price continued to move down. So let's check out xlk on the platform Go to the analyze tab. So you've got uh price hanging out outside the range obviously uh with the anticipation Of the stimulus The deal being passed. We had a pretty sizable up move this week And so after we after we rolled that trade got a little bit of uh push back against us on our on some of these short vertical spreads And so that's where we're at right now. So this one's right out of range But we are looking for further downside in the market and so we're we're okay having this on and keeping this and Providing that short delta exposure Uh real quick before I continue on some of the other alerts just to just to look at the s and p today and talk a little bit about what happened so the um So, you know that we had that we had the the deal on the table passed by the senate needed the uh vote by the house And it was supposed to be signed this morning and then one One member of congress decided instead of doing the vote over the phone He was going to require Everyone to come back in person and do a live vote for so There's all these crazy congress women and congressmen traveling around the country and jumping on You know empty airplanes and getting in their cars and driving back to dc to get this thing done Uh, they did get it done if we look at an intraday chart five-minute chart, um You know what overnight the the market was down You know, it's in the gray shaded area. We have the market going down So it it opened down and then all day basically it just kind of Grinded higher to a point where it got almost back to even on the day based on yesterday's close And then in the last what is that 30 minutes just absolutely fell apart and what's what's interesting about this is that was about the time that Trump announced that he was signing this 2.2 trillion dollar stimulus So the market is is acting very interesting, you know, it's it's it's the whole classic Buy the rumor sell the news right in anticipation of this The market is reacting positively and then once it happens boom the bottom the bottom falls out and so You know, we you know, who knows? I mean this thing could just continue and rip higher But I just don't see that happening. I really think we're going to see some more downside I think the the financial Devastation of all these businesses being closed and unemployment And and and things that are going on. I really think we're going to see some further downside. So That's what we're anticipating We we added some additional short delta, which I'll get to in the alerts, but I just wanted to kind of Give that little commentary on on what happened today specifically s&p's ended up down 88 down almost a thousand NASDAQ down 283 in the Russell down 46 the market is currently closed been closed for about an hour At the time of this recording. So that's what's happening opening trade in SPY so we put on a new iron duck in SPY I did this one with seven days to expiration We ended up taking that off booking a beak profit after price ran higher Got to a point where there's very little chance of Getting back to the duckhead. So we just booked that beak profit Next trade rolling adjusting trade in di a so another one of our short call verticals rolled this from april To may adjusted the strikes down as the market had moved down And so let's take a look at di a We've got two sets on here one with four contracts one with three There's the one with three actually with that big move higher that one Price is out of range on that piece and then this one here Price is just outside of range here. So just again keeping that on for that short delta exposure Next trade rolling adjusting trade in de so similar situation This uh short call vertical rolled this from april to may and adjusted those strikes down I'll go to de on the platform here in just a second because we had another trade Closing trade in roku. So this was the one that we actually took off for a loser. We did a reverse duck Got caught in that upswing and roku really fired higher and and so we we got we just bailed on that one Let's take a look at a chart of roku There's actually looking to potentially re-enter this but we we entered after it already made a couple days of move higher And then on this day just these next two days. It just exploded higher. So we got out Um, I was looking to potentially add another one on but it hasn't gone up again since then So might potentially look for that. It does have earnings coming up here in A little over month. So we've got some time in there, but If we get a pop-up in roku We may look to add another reverse duck because it does have that reverse skew Where the when it calls are trading richer than the puts Next trade closing trade in vxx. So when volatility had really spiked We we sold short call verticals on vxx in anticipation of volatility contracting and it sure did Earlier this week took this off on 324 booked well over 50 of max profit on that trade Opening trade in xrt. So as the market continued to go up this week We added some short delta one of which those trades was a bunker in xrt Now we used xrt for a couple reasons one It's the retail sector etf. I think retail still has some some downside Even even more downside than the overall broad market like the s and p. So that's one reason the other thing is We've got several trades in di a q q q i w m sp y So instead of using that we just went to one of these sector etfs in this case retail Did this with 87 days to expiration And part of the reason so, you know, we talked about the kind of the the The range of dates to use here, you know anywhere from You know up to 140 days out We we went on the lower end of that just because we're anticipating a fairly quick move downwards If we if we wanted if we were having short delta and wanting a little bit more duration We could we could have gone further out, but in this case Looking for a pretty quick move. So used a little bit shorter duration as it relates to these bunker trades And so I'll go to xrt here in a minute because we got another trade in there Uh opening trade in tlt so we did a a double calendar in tlt This one we did nine days on the front week 15 days on the back week And so let's take a look at tlt now this one had some implied volatility contraction You can see after we put this on you can see the ivy percentile hasn't moved much But the ivy rank has really contracted and that's why we like to have both of these on our screen because there's sometimes when ivy rank You know if there's a big spike It's going to be a little bit inaccurate whereas ivy percentiles a little bit more steady And in a case like this where you see implied volatility high You know that that is a major contraction even though ivy percentile stayed steady So that's that's one of the reasons that we keep both of these on our screen Uh going to the analyze tab here. So based on that remember a calendar double calendars Benefit from ivy expansion and this contracted so you can see we're still well within range But we're down a little bit on the trade and so if we get a little bit of ivy expansion in the bonds next week that'll benefit this And this expires four four. So we'll be getting out of that trade Either the day of expiration or the day before and if it does rip out of our range then then we'll be out You know, we've we've got about uh, so eight eight hundred seventy two bucks is about the well That's the debit we paid And and that's our max risk. And so if we get down about 500 bucks We will we'll bail on this trade, but hopefully it kind of stays in range and we get a nice profit there Next trade opening trade and xrt. So we added the next day. We added another bunker after that big move higher Um same cycle and we just used a little bit different strike. So let's go to xrt And check that out here on the analyze tab So we did one is a four by eight Four contracts by eight contracts and that one looks like this here now the The market is currently closed. And so that's not that p&l is not accurate. We are actually profitable on this trade Uh, let's take a look at the other one. See if it's a little bit. Yeah, I see I mean this p&l is not drooping down like that. It's it's up here. So we're actually up a couple hundred bucks On this trade on both these trades so far. It's just not showing it because the market is currently closed Next trade opening adjusting trade in de so we again the market moving higher adding some short delta in this case We add another short call vertical in de I did this out in may with 50 days. So now we've got two sets in de I had a I mean de really ripped higher When the market was going higher as well. So Uh, we are out of range a little bit here on the on the one with three contracts. We're well out of range But still a you know decent chance we get back into range before expiration And then the one we added a price moved higher after we added it So it's a little bit out of range too, but again keeping this for that for that downside exposure Next trade closing trade in spy. So this one I already mentioned where we closed our duck booked a little bit under beak profits Next trade opening trade in spx. So we did a new weekly double calendar in spx did this one with the front week at eight days Back week at 11 days And again, I put here if if loss exceeds 500 that that's when we would bail on a losing trade. Otherwise, we'll keep this until Close to expiration either day of or day before expiration And you know in the course we talk about getting out if um You know if price if we hit a loss point of about 25 percent of debit paid The thing with these that how they differ from the ones that we that we with the criteria from the course is You know, we're we're using about the 40 delta So it was a little bit closer into price in the way in the way we teach it in the course And we we're going with you know, six to eight days on the front week all the way out to 20 to 22 days in the back week And that that is still a great way to do it in lower implied volatility Uh situations but right now we're in such a period of high implied volatility that we're using about the 25 to 30 delta So we're widening this thing out giving ourselves a higher probability of profit And then we are squeezing in The duration of our between our front week and our back week So you can see the front week is the april third cycle and the back week is only april sixth So just three days difference and by doing that we're lowering our buying power requirement So this only cost about 1100 bucks and buying power to put on And and it's taken a little bit out of the Game of the differential between the between the between the durations it comes becomes a little bit more of a Just a pure theta decay play Um, yeah, obviously implied volatility expanding and track contracting are still absolutely going to affect this But there's not as wide of a differential between the durations Uh, so that's that's why we're kind of doing it this way during this period And then I said, you know, if we get down about 500 bucks, that's when we'll bail on this And that's about 50 of the debit paid here because of the different criteria criteria that we're using to set these up So hopefully that makes sense Um, so anyway, this is uh, you know, we put this on just a couple days ago. It's already up 600 bucks these these Weekly short duration double calendars have just been killing it Uh, so hopefully that continues obviously Uh, this implied high applied volatility isn't gonna isn't gonna last forever but get in while it getting is good And uh, and remember we we try not to put these on like we didn't add another one today Because of the spike in implied volatility We like to put these on In periods when implied volatility is contracting, you know, you can see vix futures up 16 percent today So that's not a day you want to enter one of these, but if you already have it on it sure helps So that's why we're up 600 bucks on this trade already And then if you go through time so this expires four four So if we take this off on four two or four three, you know, we've got a you know Based on current price and volatility and we've got a you know profit potential and the kind of that, you know 1200 to 1200 to 1800 dollars obviously if implied volatility expands that could be even more If we wait if we go in one more day, you know more up into that 2000 2100 1800 dollar type profit range so And and and the cool thing is I mean we're only risking $1,100 on this trade That's the max profit and the buying power requirement And we're starting out with you know about an 80 percent 75 80 percent probability of profit So it's just crazy the way that implied volatility is is affecting these options right now. So good stuff And and and again another shout out to Tim Weiss I mean he's doing a little bit different style and he's using double diagonals Where the where the strikes are different as opposed to the calendars You get the the short put in the long put or the same strike short call in the long call or the same strike But the concepts are the same and implied volatility affects it the same Um, it's just you know, that's that's Tim's preference and but shout out to him for kind of You know really posting a lot on that in the community it it caused me to go back and look at these and And so we'll continue to do these And and hopefully keep up the good work Next trade opening trade in win. So we did a another bunker trade. We did this one in win So again looking for short delta exposure and in this case Looking at casinos and and it was a good choice Obviously in hindsight don't know this is gonna happen, but you know win down 11 percent today. So That is helpful. So we are profitable here again. I'm not sure if that's quite accurate shows up 138 bucks so far I think it might be a little bit better than that if the market was open, but Good good trade so far nonetheless Closing trade in spx. So this was the weekly double calendar that we put on last week So we're just in this for six days booked almost two grand on the trade with just one contract Great trade there Next trade rolling just in trade in cl. So oil. So we had that remaining put and we were You know hoping for a little bit of a bounce before the 21 days the expiration came We're gonna be doing this today with 20 days and rolled out to 48 So we rolled out that short put and then added the call back in and so essentially we bought back that put And sold a strangle and and we're inverted. So we've got the 32 call and 47 and a half put And so let's take a look at the platform. I'll show you what that looks like Uh, so that's the other one we have When we just rolled looks like this. So, you know, you can see we've got by by going inverted We're collecting a credit on the roll. We've got, you know, a big max profit of over 80 400 So if we can get a little bit of a bounce in oil and stay in this range and, you know, you know, get back another Let's say 50 of that. So another $4,200 And then roll again and and, you know, if implied volatility stays high, you know, it'll it'll take a few cycles to get back that loss But I've I've gotten back bigger losses. And so Uh, for those of you still in it with me, uh, that's the plan We're gonna we're gonna continue to manage this and try to get back to profitability The other piece of that of doing that is we also added another one and man, I mean The implied volatility in oil has been nuts right after we put this on implied volatility spiked We are down like $1900 even though we are almost dead centered in the range of this thing And then implied volatility contracted like crazy and now we're up 400 You know, just you know, had we had we put this thing on just like two days later Uh, we probably already would have taken it off just a few days later and booked, you know, 30 40 50 percent of of max profit But of course you can't can't trade in hindsight. So we are where we are Next trade we're only adjusting trade in smh. So we had this short strangle in smh And so got down to 21 days to expiration. So we rolled out to may So we take a look at smh We kept the strikes the same because it was pretty well centered And so the price is hanging out right here. So now we're just playing the waiting game Waiting for some more theta decay and hopefully we bebop around in this range here Next trade xbi. So the same kind of a situation just got down to 21 days to expiration rolled out to may in this case xbi is inverted and so Here's what that looks like and again markets closed this p&l line looks a little goofy But uh price is hanging out right here And so just uh just looking for some more theta decay to decay in xbi So those are all the alerts. Let's take a look at some of the other positions Starting with 6e. So we've got this strangle which has been adjusted into a straddle Uh price is hanging out pretty well centered here. So just trying to get back some some profit get back to profits in 6e Mentioned oil. Yes, we've got this long put vertical here price is just inside range. So just holding that for that short delta Gold another crazy iv You know this I mean this thing was way out here The price was way out of range But there's still so much premium left in the untested side that we did not adjust And then price ripped all the way back here Now we're in the upper end or the upper end of the range And so gold has just been on a crazy whip And so we're just still holding this and you know, obviously implied volatility has expanded And so that's why you're seeing that p&l line down from uh from where it normally would be in a in a normal market But uh just holding this and continuing to let that theta decay Natty gas we've got this Adjusted strangle here price is hanging out right here on the lower end of the range If we take a look at the untested side still got a lot of premium in those calls So we're not looking to make an adjustment yet And as far as time goes still got 31 days. So got another 11 ish days before we would roll that one out in time ZB ZB was starting to act nice for us coming back into range and then it's and then it's been ripping higher here Over the last week and a half or so Uh, but again, we've got two different inverted strangles That's not right So we've got this one, uh, so we need a little bit of downside action in bonds and some downside action here in bonds as well Now we've got 28 days. So next friday or next monday We'll be rolling these out as well. So hopefully we get a little bit of downside action before we do that Wheat we've got an iron condor price is hanging out right here Just waiting for some more time to pass if we do Get out here. I almost added another wheat iron condor prices all the way down here On the lower end breakeven and I almost added one But then the next when I went to do it price just ripped higher and it's continued higher Now we're in the upper end of this range of this one So just playing the waiting game here if we take a look at wheat you can see it was on that Long slide and then boom Price of price of wheat just just absolutely accelerated So that is where we are at apple down 4 percent today Some big swings in apple xd prices just inside the range here of our long put vertical again holding that for short delta I mentioned de i mentioned dia i wm another short delta play prices hanging out just outside the breakeven Looking for some downside action there. This one is still in april So just just holding this and we'll hold this all the way down to expiration week if we need to but You know if we obviously if we get a quick move lower, we'll roll this out to may and and keep that short delta on qqq We've got this short call vertical prices hanging out just outside the range need a little bit of downside action to get back in Uh, let's see spy. Did I mention? No, okay, so we got iron condor in spy. It's pretty well centered I just went with waiting for some more profit before we get out of that one Tlt I mentioned win. I mentioned that one xbi xlk another short delta This is this being a long put vertical Uh, just looking for some more downside to get back in there Also, I've got got a couple questions in the community this week about you know If i'm looking to add a vertical spread for for short delta What's better a short call vertical or a long put vertical? Well, as you can see we've got both You know, it's it's really a directional play and Obviously because of the long put component if you have a long put vertical If price goes down typically implied volatility is going to expand and that's going to give you ever so slightly a little bit more benefit Uh, but it works both ways if price goes up and vi volatility contracts You're tiny bit better off having a short call vertical. So Not a big deal either way either one is just fine And then lastly xrt which I already mentioned we've got those two bunkers on so That is where we're at my friends everybody. Have a great weekend. We'll talk to you next week