 What's up navigation traders welcome to this week's video update today is Friday May 18th Let's jump into the alerts from this week Starting with our first trade on Monday. We did a closing trade where we bought back a strangle in Ford slash 6e We're only in the pot in the trade for 12 days We're able to book a profit over 40% of max profit. So nice trade there We'll go to the platform on 6e here in a minute because we actually re-entered a new trade on a later alert here Next trade was a closing adjusting trade in the QQQ So we closed out our put vertical side as the price ran up and breached our upside break even so we closed the Untested side and then we still had the two sets of short call verticals in May which in the next two trade alerts here We rolled those short call verticals from May to June and adjusted those strikes So did that here and then here as well. So if we go to QQQ What you'll see here is so here are the two short call verticals that we rolled from May to June We've since had some down movement in price. So benefiting those positions. So there's that one and then this one as well Let me reset this and so we had that one and then this one here So very similar strikes but need some more down movement to benefit those pieces and remember We we're keeping these in our portfolio to act as that short bias that short exposure that short delta in our portfolio And then here is the one that I just mentioned from the alert This is the short call vertical that we have left after we took off the put vertical side So you can see price is still hanging out here right right past our break even point So need a little bit of down movement to benefit that one So we'll continue to monitor those Next trade was a rolling adjusting trade in Amazon. So this is a short put vertical that we put on post earnings We just put it on with a really short expiration with just one day to expire initially and at rolling that out to May And then now on this alert we rolled from May to June and this gives us that key It's a long delta trade so helps balance our portfolio We like to have some long delta some short delta some market neutral trades and so we wanted to keep this trade alive and Continue to see if we get some upside You can see since we put that on price has moved down a little bit So could use a little bit of up movement in Amazon to benefit this trade if we look at the chart You can see if we just get a little bit of a bounce up higher What we will will profit from this one. So keeping that trade on as well Next trade was a rolling adjusting trade in EWW where price breached our short strike to the downside So we simply rolled down our calls and we rolled them from 58 54 to 48 still in June with 31 days to expiration. So we stayed in the same cycle So holding the short 47 puts and 48 calls. I'll go to the platform on EWW here in a minute because we did add Another trade there as well Next alert was this opening trade where we re-entered in the Euro implied volatility popped up nicely To over 75 at the time we put this on and since it's actually gone a little bit higher So if we take a look at 6E You can see click on this one here. So you can see it's gone up to percentile is now at 81 So it's actually gone up a little bit higher If we take a look at the analyze tab, you'll see it's still very centered Not much to do here except for wait for a little bit more time to pass Next trade was a closing trade in EWW. So we still had this May EWW strangle on I typically don't like to hold that close to expiration I was trying to get filled earlier in the week and didn't get filled it kind of ran away So with with it getting closer to expiration, we just closed it out Still booked a profit not quite as much as I wanted but still booked a profit on that trade Next trade was an opening trade in the notes ZN So TLT is the corresponding ETF that we look at for IV percentile is at 73 at that time If we take a look at TLT Now on the charts you can see it it popped up even higher and then today it's contracting Nicely, so if we take a look at ZN, which is the actual position that we have on You can see We've got a little bit of profit not enough to take off yet just kind of playing the waiting game here Still very centered so nothing to do but monitor that one Next trade was a closing trade in IYR So we had a short strangle on IYR booked a profit over 40% of max profit So nice trade there if we take a look at At the charts of IYR, which is the real estate ETF You can see implied volatility now at about the 38 percentile. So if we get a pop higher in IV We may look to re-enter that next week Next trade was an opening adjusting trade in ES. So S&P 500 futures we added an iron condor on here. And so if we take a look at ES We've got two different cycles on here The ESU 8 that's the one we just added here. So still very centered nothing to do there and Then the next trade was a closing adjusting trade where we had we still had an iron condor in the June cycle We closed that out booked over 40% of max profit on that piece of the trade So now we're just holding that iron condor that I just mentioned here Going back to that real quick here. We also have in the other cycle We still have that long put vertical that we're keeping on for that short delta in our portfolio So I'm still looking for some downside movement to benefit that piece But that's a totally separate trade from the iron condor Next trade and final last trade was a new short strangle in EWW. So we added a short strangle IV percentile jumped up to 92 today when we put that on so if we take a look at EWW We have these two positions on The one in June, which is the adjusted strangle. So you can see it's kind of moving Moving down now remember after we make an adjustment our next adjustment is not when it hits the break even So what we have to do there is a little bit more manual What we do is we just look at the untested side So if we click off the put so we're just looking at the call, which is the untested side You can see we've got some profit on that side But we really want to wait until this has very little value left in it before we make another adjustment There's still room for that to go to get some profit on that side. So we don't make any adjustments at this point It's we just let it let it go. We're still getting some good theta decay of 1250 a day approximately and So we just hold this and wait. It's in the June cycle, which still has at this point 28 days to expiration So we'll give this at least another week once it starts getting under that 21 days to expiration Then we will roll that out to July or just close it out depending on where price and profits are at that point But then the other piece of this trade is the alert that I just mentioned Which is adding another strangle and we did this in July with 63 days to expiration Which is just slightly out of our wheelhouse We like to be in that 30 to 60 day range But remember we've got 28 here in June So we're not going to enter a new position in June because it's under 30 days So we opted to go out to July collect more credit give ourselves more time And so that one's still very centered nothing else to do there So those are all the alerts. Let's take a look at some of the other positions that we have on Natty gas we've got an iron condor on here got some profit not quite enough to take off yet there Zn I mentioned Zs which is soybeans got an iron condor on in soybeans could use a little bit of up movement To get back towards the center in that one and then wheat we've got an iron condor on here Big move up today over 3% to the upside Got some profit there not quite enough to take off yet in wheat Apple Apple's been a little bit of a thorn in our side. We have this Long put spread on which is a short bias trade for that short delta in our portfolio But Apple's been very strong to the upside So just continue to wait here trying to you know, let the probabilities play out But we may look to roll or just end up closing this one for a loser Depending on where we're at over the next couple weeks here. So we'll continue to monitor that I mentioned Amazon DIA so we've got these two sets of short call verticals here kind of similar to the QQQ We're just looking for some down movement to benefit this piece of the trade again Continuing to keep these on for that short delta for that short bias that we want in our portfolio FX I so this one is pretty close to and actually this one is Now that I'm looking at this I looked at it earlier and it didn't have quite as much profit So this would could come off. In fact, this video will already be recorded. However, I am going after I get then recording this I'm gonna go ahead and take this off. We've had a little bit of Down movement here, which is we're now at 50 per over 50% of max profit So I'll book this and send that alert on that one. So that'll be closed out IWM Iron condor in here just hovering right at our breakeven I'm gonna give it over the weekend Let us see if we can come back into range before we make any adjustment in IWM McDonald's we put this trade on to add back a little bit of long Delta in our portfolio Came down out of our range. So looking for a little bit of up movement to benefit that piece in McDonald's I already mentioned the Q's XLK Another short vertical excuse me long put vertical a short bias trades looking for some down movement in XLK to benefit that one and lastly XRT So XRT we've got this short strangle Price just kind of hanging out in the upper end of the range No adjustments needed yet could use a little bit of downside movement and some more Theta decay to benefit that So that's all the alerts. That's all the positions that we have on I like where we're at We're in a good position here with a lot of different diversified symbols Hopefully we can get some more opportunities next week to put on some new trades Everybody have a great weekend. Talk to you next week