 Hello everyone, and welcome to this week's video update. Hope everybody had a good week. Today is Friday, January 27th. So let's go through the trades like we always do for the week, starting with the very first one on Monday. I actually sent out a trade correction on XRT. One of our members notified me that, and I had made a mistake, we entered a strangle on XRT on January 5th. And I actually posted an alert, but it never went through on January 11th to exit the trade. So I got out about 30% of max profit. The good news is, if you were holding this trade, hopefully you did a lot better. You probably got out for around 60% of max profit if you waited for this trade alert. Obviously, if you're following the rules like I teach in the course, you probably would have gotten out on about the same time I did. However, that was just a mistake that that alert was not sent out. So sometimes that just happens, technology is great when it works. And sometimes it doesn't, but shouldn't have any of those issues anymore. Next trade was a closing trade in XLF. So we closed a straddle, took a nice profit in that. IV percentile at the time was all the way down to seven. So no more, not a lot of juice in those left. So we went ahead and took that out for a profit. We had, over the last month, we had had several positions in XLF overall, made a nice profit in all of them. So that was an excellent trade. Next one was an opening trade in EWW. So if we take a look, we put on a strangle, IV percentile was at 57 when I put that on. So if we take a look at EWW. There is Trump and the president of Mexico seem to be butting heads right about now. So that's kind of what you can attribute this spike in implied volatility to. As premium sellers, we don't really care why implied volatility is high. All we care is that we do have high implied volatility because that creates opportunity for us. So if we take a look at where we're at on this EWW trade, we've got, you know, we're down on the trade just because of that spike in implied volatility. And this is a good example of why we want to put these on in high IV because if you do get those spikes, it's going to hurt your position. Now we're still well within our range. So we're not, we're not being hurt from a, from a giant move one way or another. It just, you know, lowered our profit line because of implied volatility spiking on us. I was looking, I was actually trying to get filled on an additional EWW position to kind of help widen out our break evens, give us more credit based on that spike in IV. I'd like price to move a little bit more. So if it was maybe over here in this area, I probably definitely would have tried to more aggressively to get filled. But if implied volatility stays high next week, we'll definitely look to scale into this and add a larger position. We only did four contracts on this so we can, we can afford to do more. Obviously you need to make sure that your number of contracts is warranted in your specific account size. Don't, don't necessarily do just the number of contracts I do. Make sure it fits your account. Let's see. Next trade was going back here. So the next trade was on the 23rd. This was another opening trade and we bought a calendar and IWM. So let's take a look at what IWM, excuse me, IBM is doing. So you can see we put this initial one on right here when implied volatility was down near zero. We, and then subsequently we had pretty immediately a pretty significant move to the upside, which, which allowed us to put on another one as an adjustment, another calendar. So we've got the double calendar here. Now, if you're looking at this on the analyze tab, like I'm showing here, you might be thinking, gosh, you know that the, the, the profit at expiration is next to nothing if we're perfectly centered, but keep in mind what volatility does to these calendar trades. So if we take out the theoretical volatility adjustment tool and increase, remember we're looking for an increase to benefit our position. If we get an increase in implied volatility, look what happens to that profit line and, and not only the current, but, but the one at expiration as well. So if we get the spike in IV like we want to for a calendar, you don't, you don't necessarily need to worry about the expiration line on the graph because that is going to expand as implied volatility expands. And hopefully we'll take that off for a nice profit. If we, if we get that expansion that we're looking for over the next couple weeks, several, several weeks. So stay tuned on IBM. Next one was an opening trade in EWZ, also another calendar. I mean, these are the types of trades that we've got to look to put on when implied volatility is as low as it is. So if we took a look, take a look at, I mean, look at implied volatility in EWZ and this is true for a lot of underlying. So it's, we're not looking to sell iron condors or strangles when implied volatility is this low, there's too much risk. So we're looking to put on some calendars and just put on premium selling strategies in the highest IV symbols. So another, another calendar in EWZ, as you can see, we're in the profit. Not enough to take it off yet. So we'll, we'll just continue to wait there. Next trade was in, I already mentioned IBM. We added that double calendar. The next trade was a adjusting trade in QQQ. So if we take a look at the cues, we added the double calendar kind of similar situation in the cues because it just continues to move up. It's real close to our break even here. I'm going to leave it on over the weekend. I hope to get a little bit of a pullback or if it does keep going high, we'll make our next adjustment and I'll send that out in the alert. So nothing to do but wait on QQQ. Moving on, next trade was a closing trade in GDX. We closed out GDX for a strangle for a nice profit. We take a look at the charts for GDX. As you can see, just like a lot of things, implied volatility is getting crushed, which is good from a standpoint of being able to take profits, took a lot of profits this week. However, moving forward, we need, we need a spike in IV to create some more opportunity for us. So hopefully we get, hopefully the administration shakes some things up and gives us an opportunity to put on some more positions. But there are periods where we can stay in low volatility for extended periods at a time and we got to stay active. We might start putting on more directional trades as opposed to delta neutral. We'll potentially look to put on more calendar trades to benefit from an implied volatility increase. So stay tuned for that. We'll definitely stay active regardless of what's going on. Next trade was an FXY. So we opened up a strangle in FXY. Applied volatility was right at the 50 level when we put this on. So if we take a look at the chart here, it's still right there. It's right at 49, and we're right here in the center. Not much of a profit or loss at this point. So we'll continue to wait on that. Let's see, next trade was another closing trade in the bond. So we took that off for a nice profit. That was an iron condor in 4 slash ZB in the bond futures. So if we take a look, remember to look at implied volatility on the bonds. We got to use TLT and implied volatility got crushed today. So we'll go over that when we talk about TLT. But that also, the bond, the ZB bond futures, also typically follow the implied volatility. If you click on ZB, the implied volatility indicator doesn't work on some of these futures contracts. And so you've got to use the respective ETF to get that reading. And so TLT and bonds were kind of one of our only symbols that continued to have high implied volatility. Now that's dropped. So we'll see what happens next week. It could spike right back up. This implied volatility can really turn on a dime. I mean, look at this, where we saw the implied volatility spike from one day to the next was down under 10, up to over 70. So you never know, but we'll just continue to see what happens. Next trade, FXY, another closing trade for a nice profit there. And that was a strangle. TLT, OK, let's go to the TLT. We had a closing adjusting. We took off the call side of our TLT iron condor. So if we take a look at that, already showed you the chart. If we look at the Analyze tab, what you've got here is we've still got this full iron condor. It's right dead center. We've got a nice profit in there. We'll wait for more profit before we take it off. The adjustment that I just mentioned, though, is we were still holding this put side. So we've had a pretty decent down move from this point over the last week. And so we had to make an adjustment here by taking off our call side. We banked that, basically, the full profit on the call side and held on to the tested side, which are the puts. And so we'll wait for either a small move up to take that off, to complete the closing of that iron condor, or we'll continue to make adjustments as needed. Let's go back to the alerts here. The last trade that we made today was we closed out the iron condor in natural gas. Again, natural gas has been a great trading vehicle because it's continued to have decent implied volatility. Another one that you've got to use, UNG, the ETF, to check the IV, but we've had a nice contraction this week and allowed us to take off that natural gas iron condor for a nice profit. So let's go back over some of the other positions. We've still got another position in natural gas, which is a strangle that we had adjusted. We're still down a little bit on that one, but it's fairly centered still. So we'll continue to wait there. You can see we're making about $56 a day in theta. So another five, seven days in there, as long as it stays in our range, we'll be able to get out of that for a small profit or break even. And we'll see what happens in implied volatility. Potentially add some more positions on in there. Natural gas is a great trading vehicle. I already mentioned bonds, soybeans. So we've got a couple of positions still in soybeans. We've got two different iron condors. You've got this one where we're in the profit, not enough to take it off yet. And then we've got another iron condor where we widened out our overall break evens for the total position. So you can see price is kind of more on this end. So looking at these, you want to kind of think of this as if you remember the Atari game Pong where price is just going to kind of bounce around and you can take profits when it gets to your range and then hopefully moves back the other way for the other iron condor, but that's the game we play. And that's why it's so important to keep adding these positions on and spreading out your break evens and continuing to take profits when the market gives them to us. I mentioned EWW, EWZ, GLD. So we've got this double calendar here. So nothing to do here yet. We're down a little bit on the trade, need a little bit of an up move and a little spike in implied volatility. And so we'll just continue to watch and wait for that one. IWM is another one we've got position on in. Now the implied volatility, we put that on up here when implied volatility spiked and we've got a great contraction, but we just need a little bit more time to pass for that profit line to continue to increase and get out of IWM at a profit. And the rest of these I've already went over. So that concludes our update. Hope this was helpful. If you have any questions, let me know. Look forward to another great week of trading next week. Talk to you then.