 What's up, Navigation Traders? Today's Friday, March 15th. Welcome to this week's video update. This is our weekly review exclusively for pro members where we review the trades for the week. But before we get started, I just wanna recognize this week's member in the Trade Hacker community for helping other traders. Every week we like to recognize one member. This week's winner goes to Natalia Saldina. Congrats, Natalia. You got caught being hot. And I sent you a private link to pick up some Trade Hacker swag. Thank you so much for your contributions. We really appreciate all of our members and trades insight and trading ideas. It's been really cool to watch the community grow. So let's jump into the alerts for the week. A couple of things I wanna mention back in the community too. I've also started another topic with all the excitement around earnings trades. Overnight earnings trades, I have created a new topic called overnight earnings trades. And so let's start posting all of our earnings trades in that topic. And that way it's easy for all the members to keep track of and reference and go back to. So keep it up, everyone. I'm loving the engagement around that topic. So keep it up. Also our pro membership, we are closing it to new members on Monday, March 18th. So obviously if you're listening to this, you already are a pro member. If you've received an email by mistake with that announcement, I apologize. We're just trying to get our email situated correctly. So apologize for that. And let's jump into the alerts for the week. So back on Monday, 311, our first trade was a closing adjusting trade in IYR. So we closed out the call vertical side of what was part of an iron condor. Price moved well out of range. So we needed to roll our close with where we are with short delta and everything. We ended up just going ahead and closing that piece out. But we still have a, we still have a full iron condor in IYR. And look at this thing, man. I mean, this has just been an incredible run. And this is IYR, the real estate ETF. If we look at just SPY, for example, I mean, same kind of story. I mean, look at this just uphill run with just basically one little pullback right there. It kind of reminds me of 2017. Right here at the end of, the last few months of 2017 were just brutal where the market just continued to grind higher, implied volatility was low. So every couple of little blips there started to get high and it just really cranked higher. And then the first part of 2018 just skyrocketed. That's one of the most difficult times to trade in right there where you just have that one directional massive move that keeps going and going and going. So, you know, this thing has been brutal. I mean, we've still fared very well, but you know, it's tough to trade in that. Especially when you're carrying short Delta, right? So we've got short Delta. So we've still made money on the year, even carrying short Delta, even with that one directional move for the most part in stocks, part of it's been due to our diversification in other symbols, which is key and we will continue to do so. So back to IYR, just wanted to point that out. Here's our full iron condor. You can see prices hanging out in here near the upper end of the range. So just looking for a little bit of a pullback to the downside to benefit that trade. We would look to add another iron condor in here, but look at implied volatility. It's just too low. I'm not selling premium with an IV percentile at nine or IV rank at 15. So we'll just continue to manage this one as needed at this point. Next trade was an opening adjusting trade in wheat. So we had on an iron condor and wheat and before we even adjusted that one, we went ahead and added on another full iron condor. So now we've got two iron condors, wheat really bounced back into range. And so now we're just holding onto two. Hopefully we can make out with a profit on both of these. But here's the one with three contracts. You can see prices hanging out right here in the upper end of the range. And then if we look at the one that we've got with four contracts, we were very close to adjusting this one because it came at breach the downside break even. And so first we just added a new one and then wheat ripped back higher. So back into range. So now we're just holding two and hopefully we can capitalize on both. Next trade was a rolling adjusting trade in QQQ. So we had the two sets of short call verticals. One was still in March with four days to expiration. Was hoping for a little bit of downside before we roll this, but we got down to four days. So needed to go ahead and roll that out to extend duration and keep that short delta exposure in our portfolio. So if we take a look at the QQs. Now we've got them both out in April. Here is this one with prices moved up since then and is a little bit out of range here. So looking for some downside to get back in. And then our other piece, this is the one that we just rolled. Price has moved up since then. You know, just kind of sitting around that break even point. So just continuing to hold these at this point. Next trade, we did an opening trade in Boeing. So there was some fear over, I think it was Sunday night that it came out that another Boeing airline had crashed in Asia. And so that put some fear in the stock and in the way that we look at it from options traders, it spiked implied volatility, meaning the price of those options skyrocketed with implied volatility going up. Now a situation like this kind of an event like this is a great time to sell premium because more than likely that fear was overstated initially meaning that the option price has spiked, implied volatility spiked and now price is starting to settle down. So assuming it continues to settle down and stay stable, we're fairly centered here on our iron condor, we've got some profit just waiting for some more before we book that one. Next trade was a rolling adjusting trade in EEM. So we rolled our short call to vertical in EEM from March, which at that point just had two days to expiration. Again, I was just hoping for a little bit of a down move. And if we would have gotten that, I would have booked it taking a profit, but I don't have any problem extending duration on this either to keep that short delta exposure in our portfolio, which speaking of overall, we are at about three to one on our short delta to theta ratio. So in a good spot, I like where we're at and just not necessarily looking to add any or taking the off at this point unless the trades weren't doing so, but we're in a good spot here. So here is that EEM and price is sitting right here, just barely at a range. So again, just looking for some downside to benefit that. Next trade was a pre-earnings long straddle in MU, which is Micron Technology. They announced on, I forgot to mention this on the alert, but they announced on 3.20 next week. So early next week, we'll be taking this one off. You can see that we're down a little bit since we put that on. You can see we're looking for an expansion in implied volatility and a decent sized price move. Implied volatility is contracted again on us. So we're down a tiny bit, but hopefully we can either get a decent move up or down. And if we do so before that earnings announcement, we'll take this off for a winner. If not, we will be looking to exit by 3.20 before the market closes because we do not wanna hold this through earnings. Next trade was a closing trade in Adobe. So similar kind of trade. We had a pre-earnings long straddle here. Price moved down and I thought we were gonna be able to book a profit to the downside and then price reversed and we're showing a loss on the trade. But luckily, the price of Adobe moved up enough for us to get out, took a little bit of a small winner and booked that one. So we are out of Adobe and they announced earnings last night, I believe or this morning. And so, as you can see here, we would have gotten crushed if we still held on to that position. So with the pre-earnings long straddle, we wanna exit that before because you get that huge volatility crush, takes all the premium out of the options. And unless you have a really massive move outside that expected move, then you're gonna lose on the trade. So, eked out a little profit on that one and we are out of Adobe. Next trade and the final trade was a closing adjusting trade in SPY. And we closed out our short call vertical in the March cycle and it was pretty much at max loss on that piece of the trade. So we went ahead and just closed that out. Didn't really wanna continue to carry that additional short delta. So in that case, we just closed it out. If you needed the short delta, you certainly could have rolled. But now we've just got the full iron condor in SPY. Price is hanging out up here in the upper end of the range, just looking for a little bit of downside and some more time to pass on that one. And then no trade alerts on Friday. Everything's just kinda status quo. So let's go over those at this point, starting with 6B, the British pound. We've got a short strangle on here, just waiting for a little bit of downside movement as well as some more theta decay. Not needing to adjust this yet. If price continues higher, we will roll up this untested side, collect another credit and then continue to manage. We've got 21 days to expiration. So I was looking to potentially roll this one out today, but I'm gonna give it over the weekend and see if we can't get a little bit of a downside move. If we do, we may just book the profit even though we're not quite at 40 or 50%. We may just take our winnings. If we look at FXB, which is the corresponding ETF, that's what we look at to gauge the implied volatility. And you can see implied volatility is still nice and high. So keeping a position in FXB does make sense. So if we get a downside move, we may just close this one out and then reopen a new one in the next cycle. Or we'll see where we're at with everything on Monday, but that's kinda the plan, the thought process on 6B. Oil, if we take a look at our two pieces in oil, we've still got our 56 straddle, which you can see we've got some profit here. Could use a little bit of downside in oil to benefit that. And then on the other piece, which is our inverted short strangle, we've got some profit there on that, but also could use a little bit of downside movement in oil. If we take a look, we've got 32 days to expiration, so still got a lot of time before we need to roll out or do anything else in oil. ES, we've got this long put vertical that we've been holding for that short delta exposure with this big move up this week. Price has moved out of range, so just looking for some downside movement to get back into range there. Natty gas down a couple percent today. So we've got two pieces on here. We've got this inverted strangle. We could use some up movement in that gas to benefit that. And then with this piece here, it's pretty centered. So just kinda waiting, playing the waiting game in that gas. Next position, ZN, the notes. We've got this short strangle on here, just waiting for some more time to pass, more theta to the K in ZN, which is the 10-year note. And if we look at the implied volatility, so TLT is the one of the corresponding ETFs, and implied volatility is very low here. We actually put this trade on based on the implied volatility of IEF, which is the seven to 10-year note, which is a little bit closely, more closely corresponds with ZN. And so that was over the 50 level, and so it's still just kinda bouncing around there. So nothing to do in ZN, except for weight at this point. I mentioned wheat, I mentioned BA, DIA. So we've got one set of short call verticals that was originally part of an iron condor. Price has moved up a little bit out of range here, just looking for some more downside to get back in there. EA, we've got this short strangle on here. Hopefully, if we get some theta to K over the weekend, we'll be able to book this one early next week, assuming prices stay stable. EEM, I mentioned that. FXI, we've got this iron condor, kind of a tight iron condor. Since it is a lower price symbol, we like to squeeze those short strikes in a little bit closer to price. Price is currently hanging out right here in the upper end of the range. So just playing the waiting game in FXI. In IWM, we're close to being able to book this one. We will, yeah, so we'll look at this next week. We'll either book that or potentially roll out if we get a little bit of a pop in implied volatility. At this point, implied volatility is about, I view percentiles at 29, so not necessarily looking to add anything there, but trying to get back to profits overall in our IWM trade. I mentioned IYR, MU, NVIDIA. We've got an iron condor on in NVIDIA. I actually had orders on two different times, one last week and one this week to get out, and then price moved away from me. It really ran away, but we're still in good shape here, still well within range. Just could use a little bit of downside to get back into a little bit more profit before we've booked that one in NVIDIA. In the Qs, I already mentioned that. SMH, we've got two different short strangles on here, one of which is just our regular one here. This has not been adjusted or anything and price is just kind of hanging out up here, and then we've got our inverted short strangle, which price has moved up close to the break even here, but if we look at how much premium we've got left in those puts in the untested side, you see we still have plenty, plenty of room to go, so not looking to make any adjustments yet in SMH. So just playing the waiting game, hopefully we get a little bit of downside movement in SMH, along with the rest of a lot of symbols that we're looking for some downside on, and so that's what we're doing there. SPY, we've got that full iron condor I mentioned. TLT, we put on this short call vertical spread, excuse me, long put vertical spread in TLT, and prices come up at a range, which is interesting because a lot of times, bonds and stocks are somewhat inversely correlated, so we actually put this on as a bit of a hedge against continuation of upside with stocks, but on the same token, they don't always work exactly like that, so TLT has held up as well, and we haven't seen the downside movement in fixed income that we thought we might if stocks continued higher, but still in good shape here. I mean, it's just barely at a range, so we could just use a little bit of downside to get back in there. XLK, we've got this long put vertical here that we put on for short delta, and we've rolled a few times, and so just looking for some downside to get back into range there. And XRT, we've got this adjusted strangle here, which XRT retail has actually seen a lot more two-sided action. It's not as straight up strong as the rest of the market, so that's been a good diversification for us, and we're getting to a point now where we're almost at break even overall on our XRT trade after all adjustments, so we've come back nicely in this one. If we get a couple more hundred dollars, we will take this one off for profit, and this is in April, so we've got plenty of time, 34 days to expiration, but if we just get a little bit more down movement in the next week, we will most likely book that one or potentially roll it out if we do get a nice spike in implied volatility, but for right now with implied volatility so low, one on the percentile, two on the rank, we will most likely just book that one. So that is where we are with everything. Those are all the trades, those are all the positions. Hope everybody has a great weekend. Have a good one, everybody. Talk to you next week.