 What's up navigation traders happy Friday today is Friday November 23rd the day after Thanksgiving Hope everybody had a great holiday take a day off and just kind of relax with the family I know we had all our family in town and just had a great time so I hope you enjoyed it as well and Hopefully you're not out in this black Friday retail disaster. I know I will never do that so hopefully you're still spending some time with the family and and and just kind of Recharging the old batteries Before we jump into the alerts for the week. I wanted to point out a couple things one is We made it we rolled out our new Community and it's been awesome and this is where the the video that you're watching here This is where this is going to be posted. So you'll probably have already done this But if you go to VIP pro group topics One of the topics is the weekly video update. So that's where we'll be posting these from now on and then I hope you get involved in the Community it's it's already getting a lot of traction people are Engaging asking a lot of questions And we're just we're and we're getting a lot of good feedback. We're gonna be posting our alerts here as well so you can always see those and then you can always just kind of ask questions directly from that alert and Get your answers a lot quicker So and then of course the rest of the community a lot of different topics and posts that you can join in on and We've really looked forward to it. It's it. I think it's gonna be a good thing second thing I wanted to mention is our Thanksgiving weekend special just go to navigation trading comm for slash Thanksgiving dash special and Even if you're a current pro member, which if you're watching this video you are but if you're at the monthly rate of 149 and You want to lock in for 12 months at the discounted rate? You can do that as a current member as well That's not just for new folks. So if you want to take advantage of that. We're running that through Cyber Monday and And then we'll be back to normal pricing. So take advantage of that if you're not already locked in and Let's jump into the alerts. So remember we did our last weekly update on Thursday of last week And so I want to go back to Friday and catch the one alert that we did on the 16th where we sold a Strangle in SPY so obviously IV percentile nice and high at 90 at that point And so we wanted to sell some premium to take advantage and let's go to SPY You can see we're still pretty centered here. Not much not much has happened Could use a little bit of up movement in SPY and then some more theta to decay on that one If we take a look at the charts, you can see applied volatility still still very high here So just take an advantage of that high implied volatility and then starting on Monday our first trade was a closing trade in Forge slash GC where we had a short strangle This was a Adjusted short strangle, so it was almost a straddle at that point and then after that after that adjustment It was at about 20% of max profit on that piece And so we went ahead and closed that after all adjustments. We we booked about a $500 profit on that trade So good one there Next trade was a closing trade in XRT. So we had a short strangle in XRT Booked over 45% of max profit on that one. So another good close there and Then next trade was a rolling adjusting trade in the Q's so as the as the indices in the market has moved down We wanted to roll down our short call verticals in the QQQ and in this one We rolled from December to January and then we adjusted our strikes down from 173 176 Down to 167 170 We're over 50% of max profit on that piece of the trade and so we just wanted to extend duration and Continue to keep that short Delta in our overall portfolio Which by the way just to give you kind of an update there. We have a little bit of short Delta, but we're fairly Delta neutral We're trying to keep a little bit in there just in case the market does continue lower But fairly Delta neutral at this point And let's go ahead and look at the Q's here on the platform. So if we take a look You see we have this continued downside movement Which is good for our short call verticals and remember these were originally part of iron condors And we've just continued to roll them for a couple cycles to keep that short Delta And here's the one that we rolled out to January So now it's at the 167 170 and it's even moved down a little bit since then so we'll just continue to hold and wait on this one and Then we've got another piece of that trade, which we'll get to you here in just a second But let's just keep our order here Next trade being a closing trade in EWZ. So we had a short strangle in EWZ Booked over 35% of max profit. We were in the trade for less than two weeks So nice trade there closed out of that one And then the next trade was our other QQQ trade as the market continued to go down that day We went ahead and rolled our other set of short call verticals in this case We stayed in the December cycle still had 32 days So instead of rolling this one out to January as well We just kept this one in December just to kind of diversify our time to expiration and so let's take a look at that one and Again since we've done this price has moved down a little bit more So we've got some some profit in this piece as well So we'll just continue to do the same thing if this one continues lower We'll go ahead and roll this one out to January next time So right now there's 28 days left to expiration in that December cycle 56 in January. So if this can if price continues lower in the Q's We will roll our strikes closer to current price and we'll roll out to January. So Stay tuned for that Just kind of play the price depending on what happens Next trade was a rolling adjusting trade in Facebook. So we had a short strangle on in Facebook and price moved down So we've rolled down our calls We stayed in December with that 31 days to expiration at that point and Simply just rolled down our calls. So let's take a look at Facebook. You can see it's it's still within our range It bounced back a little bit and now we're just kind of playing the waiting game late letting some of that theta decay similar to the QQQ's we're in December of 28 and so as we get closer that 21 days to expiration in this case We will be rolling out to January Next trade was rolling adjusting trade in CL. So one of our problem children here in oil So in this case oil continued lower. So we rolled down the calls in one of our short strangles This expiration cycle January only had 24 days to expiration Remember once we get down to around that 21 days. We also like to roll out the next expiration cycle So we did that out to Feb which had 57 at the time And so we rolled down our calls and we rolled out and so let's take a look at that position now Oil has since moved even lower since then it's down, you know over it's down about six point seven five percent just today And so let's take a look at that one. We've got two pieces to this trade We've got this one and this one. Let me reset this so I can check on the correct Strikes here, so let's uncheck this one and this one So this is the one that for the alert that I just mentioned so you can see prices down here Still in in the range here need a little bit of up movement in oil and some more time to pass before we do anything But now we're out in February So we've got a lot of time To let that theta decay and then I'll get to the other piece when I get to the alert here Let's move on to the next trade and this one it was an apple. So apple is continuing lower So we we have that long put vertical that we originally put on for for short delta in our portfolio And it's finally starting to work on our favor So we we took our long put vertical and we rolled it from December out to January And then we rolled our strikes closer to the current price. So if we take a look at apple Here's what that looks like now Let's move down a little bit since then even so we've got a little bit of profit there So we'll just continue to play that same game if it continues lower. We'll roll our our Strikes down closer to price again and roll out to January. So kind of the same theme throughout a lot of these next trade Rolling just in trade in XLK kind of a very similar situation to To apple we had a long put vertical that we originally put on for that short delta And we rolled from December to January We were well over 50% of max profit on that piece. So it just made sense to lock in that credit and Continue to extend duration in that trade to keep that short delta. So let's take a look at XLK And you can see price is pretty close to where we did it. So just waiting for a little bit more downside to benefit that trade Next one. Oh, I did it. Oh, yeah. All right. So in apple I had to do a little bit of a trade correction and I apologize I didn't even catch it this time as I was going through the alert instead of rolling out from December to rolling out to January We accidentally rolled to the next weekly expiration So we rolled from our December with 31 days and accidentally rolled to December 28th with 38 days to expiration so this was just a fat finger mistake on my part and The thing is if if we were in a symbol that wasn't as liquid in these weeklies I would have just immediately closed it out and Recorrected it and send it out to January where we originally wanted to but with Apple I mean the weeklies are very liquid and so I didn't have any issue with just keeping this one on So let me go back to Apple and kind of reiterate what we we've got here instead of January We're in the weekly December 28 So if this does continue lower, we will just roll out to January And not and not be in the weeklies we when we do this We like to stay in the monthlies because there's just more liquidity tighter bid ask spreads But in certain symbols like Apple, it's not a huge deal to roll out to the weeklies but just to stay consistent we try to stay in the monthlies in this case made a little bit of a mistake but instead of You know wasting the transaction cost to close it out and reopen it in January It just made sense to keep it here. So we'll just we'll continue to monitor Apple and Manage as needed and like I said if it continues lower We'll go ahead and lock in that credit if it does bounce higher Then we'll just kind of continue to wait and play the waiting game and then roll out to January as we get closer to expiration So not a huge issue But just wanted to make sure that you understood what what happened there with that trade correction Next trade was an opening trade in Gold so implied volatility stayed high we wanted to get back into gold to add some exposure there in this case we did an iron condor and We did this in January with 35 days to expiration So let's take a look at that piece. It hasn't moved much since we put it on and So you can see we're still very centered in our iron condor here. So just playing the waiting game and Lastly the trade that we did this morning on Friday morning was we we did another roll in forward slash cl So with the price movement going down again today, we continue to roll our calls down and in this case We only had 21 days to expiration in January So we went ahead and rolled out to February with 54 days to expiration So we simply just rolled our calls from 61 down to 58 Kept our puts the same at the 63 and a half strike So now we help when now we hold the 58 call and the 63 and a half put so I went over the other the other alert and so let's uncheck these and check on I got to reset it again and And reset these so I can So let's look at the 58 and the 63 and a half So that's what that's what it looks like now So if we get some up movement in oil obviously obviously that's going to help us and just wait for some more theta 2 decay I went over this last week, and I want to reiterate We are going to stay Mechanical there's some there's been some discussion on that gas and oil in the community about you know should we You know get rid of our short calls because they're taking up a lot of capital and just buy puts and you know If you're in a situation where your capital Availability isn't there, you know, I guess that is an option to to Use for an adjustment, but we don't we don't like to buy options Especially with with implied volatility at a hundred if we look at USO the corresponding ETF And we look at that chart, I mean implied volatility is at an IV rank and IV percentile are at a hundred if you buy a put You know, I mean an implied volatility starts to contract Then you're gonna get hurt on the implied volatility contraction and unless it moves quickly You know further down in your direction, you know that that's just going to hurt you now Of course if it does move quickly down and it continues down, you know fairly quickly then those puts will Buying those long puts will help, but that's just not what we're going to do If you decide that from your risk tolerance from your buying power from your you know other positions that you have if you Make the decision that that makes sense then you can do it Okay, so you need to take ownership of your specific positions But for us we're we're gonna continue to stay mechanical and manage as as needed and remember I mean this has been a huge slide a huge one directional move with very little pullback But just remember I mean this isn't it's not gonna go down forever right oil's not gonna go to zero and so you've got to stay Mechanical you got to keep your position size small Which obviously with these options on futures. These are larger contracts And so you just you just need to make sure you're sizing adequately for your overall position Excuse me your overall account size All right, so those are all the alerts. Let's take a look at some of the other positions We've got a long put vertical in ES the S&P 500 and you can see we've got it's moved down So we've got some profit on this piece of the trade Continuing to roll and keep this for that short Delta exposure But we'll just kind of hold this for now if it moves much lower We get kind of over that 50% of max profit We will low roll our strikes down closer to price lock in that credit and then potentially roll out to January Once we get to you know, we're at 28 days here in December if we look at the continuous contract here That's when you'll be able to see How many days are in the next expiration cycle and we've got about what is it 50 some the platforms updating here? Yeah, 56 so as we as price moves lower we'll go ahead and roll that out to January to keep that short Delta exposure and I mentioned gold Natty gas so Natty gas is our other problem child and we've got two pieces on here We've got the 4.1 foot and the 3.1 call. So this is an inverted strangle And we're just kind of holding this late letting that theta decay And hopefully get a little bit of a downside movement You know inverse to oil and that gas has made the big move up So we're looking for price to just kind of settle settle down here Obviously if it goes down that's going to benefit us Excuse me But also if price just kind of stays You know settles down and kind of bounces around in a range Give us the opportunity to roll for a couple cycles and get back Some of those some of those losses that we've seen in in Natty gas So that's one piece and then we've got our other piece here Which is the 4.05 put and the in the four even call So slightly inverted but you can see here. It's almost like a straddle Prices right here. So just waiting for some more time to pass And the same thing then we'll roll out to the next cycle Continue to collect those credits And and recoup what we've got here. So Again, we're just going to stay mechanical stick with the program We've seen this happen before. I mean we've seen this movie before and the only way in our mind to continue to You know recoup, you know after a huge move like that is just to stay mechanical Next piece is wheat. We've got an iron condor on here We could use a little bit more upside To benefit that piece and we'll just continue to manage that as needed I mentioned apple dia the dow So we've got we're we're going to hold this for now, but um, you know come monday We'll probably roll this down. It's a little bit over 50 of max profit But instead of rolling today, you know, the market closes early and I just want to make sure that You know, we just keep this on and so we're just going to hold on to this if price moves lower or even stays right where it is What we'll do on uh monday is roll these strikes closer to price and then on one of them We'll roll out to january and one we might stay in december, you know, depending on where things are So we've got that one with four contracts We've got this one with three, which is pretty similar situation Not quite as high of a percentage of the max profit But just continuing to keep these on for that short delta exposure Eem, uh, this one is right at about 50 percent almost at 50 percent of max profit Will be will be basically back to break even on this trade overall So we may consider just taking it off For a round to break even or we will potentially roll out. We'll probably roll out because we've got high implied volatility We want to keep exposure. We've we've kind of cut down some of our positions because we closed them out earlier this week You know, so keeping some of those positions and exposure in those emerging markets Make sense. So look for that next week EFA we put the short call vertical on for some short delta exposure And it's uh, it's it's well within our range. We've got a little bit of profit on this piece of the trade And so if we get some more Uh into early next week, we'll either take that off or continue to roll depending on the rest of our portfolio EWW so we've got two pieces to this one and this is a an adjusted short strangle You can see price and I got a question on this You know price has moved outside of our break even here But remember after we bank an adjustment those break evens are really irrelevant Really what we are looking at is how much premium is left in those untested sides So we look at if we look at just the call See we have just the call checked here You can see we've still got a decent amount of premium left in there We've got a max profit of 324 and we've got a current profit of about 193 So once once we get to a point where there's very little premium left in these options That's when we'll that's when we would roll down again And again, we're in december here Still have 28 days. So once we get down to around 21, then we would look to roll out to january But for now, we're just continuing to hold and wait And then we've got our other piece of this trade, which is a A strangle that has not been adjusted and you can see price is just kind of hanging out here Could use a little bit of up movement and uh in some more time to pass to benefit that one I mentioned facebook fxi So we've got two butterflies on an fxi. We've got a call butterfly and a put butterfly We're looking at the put butterfly right here and you can't really see the notch But price is right here on the breakeven point So if we could get a little bit of down movement here and book a profit That would be what we're looking for on that piece But then we've also got our call butterfly Which price is hanging out in the lower end of the range So what we're hoping for in fxi is that price just kind of plays a little bit of ping pong action bounces back and forth Maybe we close one out for a profit. Hopefully price, you know bounces back close the other one out for a profit If we check on all the boxes to look at this position as an aggregate aggregate It basically looks like an iron condor, right? We've got the the range here and then our defined risk on the outside So it's right in the middle of both of our both of our pieces So just waiting for some more time to pass on that one Then IWM we've got an iron condor. We've got a little bit of profit on this piece We are close. We're still down a little bit on the IWM iron condor overall But price is still well within our range here. So just playing the waiting game in IWM In IYR We're almost at a point where we can take this off and we we're actually up pretty good on this trade overall We've had a few adjustments that we've done. So if we took this off right now, we'd we'd book a really nice profit But just waiting for a little bit more Profit on this piece of the trade before we take that one off I mentioned the Q's smh So this we've got a strangle on here. We've made a few adjustments Closed Took it taken off rolling adjustments Rolling closing trades, excuse me adjusting closing trades adjusting opening trades So we're just waiting for a little bit more profit before we take this off We're still down slightly on this one, but pretty close to getting back to profits on smh I mentioned spy and I mentioned xlk. So Those are all the alerts. Those are all the positions that we have Enjoy the rest of your weekend and we'll get back to trading on Monday and again Be sure to uh to join the community and get engaged. We're getting a lot of good conversations going on so look forward to having you specifically our pro members jump in there and and uh And uh get engaged with the rest of the community. So Thanks everybody. Have a great Thanksgiving. We are very thankful for you our pro members and uh, and can't wait to See what what's coming in the in the next months. Talk to you soon