 What is up everyone? Welcome to another lesson from Navigation Trading. In this video I want to show you how to roll a short call vertical spread from one expiration cycle to the next. So the symbol that we're looking at right now is DIA, the Dow Jones ETF, and if we take a look at our current positions, in this case we have several different positions on. We've got an iron condor, which is currently in the May cycle at the time of this recording, which is April 2nd. So that one's still well within range, nothing to do there. But we've also got a couple of short call vertical spreads, one with three contracts that you'll see here and the other with four contracts. So these were originally put on as separate trades and so I keep their strikes just one strike different just to keep them separate for tracking purposes. But what I'm looking to do now is to roll these trades. Okay, we're in April, which currently has, if we take a look here at our trade tab, currently has 18 days to expiration. So we've got a little bit of time, so we're not necessarily pressured as far as time goes. But if you look at the amount of profit that we've that we've got in this, you know, $484 out of a possible $648, you can see the profit line kind of starts to flatten out a little bit. It's not as it's not as steep as you as you see it right here. So if the market were to continue going this way, if it were to continue going lower, then we're not making as much profit. And so what we want to do is we're actually looking to roll this position to the next expiration cycle, because we want to keep that negative delta or that short delta as part of our portfolio. And so we want to keep this trade on, but we want to get a little bit better bang for the buck as opposed to just this flattening out of the profit curve. And so with this being in April, we're going to simply roll this spread from April to May, and then we're going to adjust the strikes a little bit closer to price. So before you do the roll, what I like to do is go to the trade tab and go to the expiration that you're looking to roll the spread to, which in this case is May. And then let's just set up a theoretical position to see if it's where we want as far as the strikes are concerned. So let's just go with one strike out of the money. In this case, the 236, we can right click and click sell vertical. We want to keep the strike with the same. So we're going to do three points wide. So that would be the 236, 239, because we've got them three points wide on the other one. And so that's what we're looking at. And then we can take this over to the Analyze tab. Let's uncheck our current position. And this gives us an idea of after we roll, this is what it will look like. Okay, and let's make the contracts the same. So it'd be four contracts. And so what we're looking at here is price is currently right here that gives us a probability of, we put our price slice right there on the break even point. Make sure we change our calendar to the expiration cycle, which in this case is 519, May 19th. And that gives us a probability of profit a little over 56%. So it's putting the odds a little bit on our favor. It's giving us a positive theta number. And it's giving us that short delta that we want to keep in our portfolio. Okay, so that just gives us an idea of what that'll look like when we roll. So I like those strikes. I like where that's at. And so now we can go back and do the roll. So you can simply highlight the strikes that you want to trade, create rolling order, sell vertical roll. So we're selling out the 247-250. So it'd be the top one there. So we're we're exiting the 247-250. But remember, we need to change the expiration cycle to the next monthly, which in this case is May 18th. And then we want to change the strikes to the ones that we set up on the theoretical. That should be four. And so we're exiting the 247-250. And we want to reenter it as the 236-239. So we change this to the 236 because that's the one that we're selling. Change this to the 239 because that is the one that we're buying indicated by the minus for sell and plus for buy. And so you can see by doing this, not only are we kind of locking in the profit from the other trade, but we're reentering it and overall we're picking up a credit for doing that. Okay, so that's the that's the whole basis of this type of trade. So we can simply let's move that down to 117. See if we get filled there. We hit confirm and send. Send. And we got filled at 120. So we actually got price improved a little bit. So then if we click off of our theoretical, you can see the check boxes are representing the 236-239. So now we are in that trade. It's been rolled from April to May. You can see the April position is zeroed out there and zeroed out there because we closed that one and reentered it in the next expiration cycle. Okay, so that's one of them. Now we still have this one with three contracts left in April as well. So if we take a look at that one, it's a very similar position. Like I mentioned, it's just it was just one strike different. And so we want to do the same thing. You know, we've got the same situation. The profit curve has started to flatten out. So we want to roll our current strikes closer to the money as well as roll it from April to May to give us more time in that trade. So let's go ahead and delete this theoretical position and do the same thing that we just did. And we'll just use one strike different to keep our tracking simple. So instead of doing the 236, let's sell a vertical at the 237, go three points wide. So that'd be the 240 is the one we would buy. And then we can take this over to the analyze tab the same way. Let's uncheck our current position and just look at the theoretical, kick that up to three contracts so it matches what we're what we're rolling. And very similar here, the probabilities are going to be a little bit better because we're going a little bit further away from the money. So about 58% probability of success on this trade. So that looks good. So then we can go back and roll the trade very similar to what we just did with the other ones. So just highlight the trade, create rolling order, sell vertical roll. And then remember, you got to change the expiration cycle to the one you're rolling to, which in this case is May. And then we want to change our strikes to the one that we just set up, which would be the 237. Change that to 237 and change this one to the 240. Okay, so we're we're again, we're we're giving ourselves more time. We're moving our strikes closer to the money and in the process, collecting another nice credit. So that when we hit confirm and send and send this in to get filled. In this case, we're not quite getting filled yet. So for the case of this video, I'll go ahead and cancel replace kick this down another couple pennies hit confirm and send. And we got filled at 121. Okay, so if we uncheck the theoretical, you can see we have all of our positions now in May. Our April positions are zeroed out because we went ahead and roll those out. And so now we are in that trade as well, exactly like we want it. So in this case, we have a max loss of 429 with a max potential profit of 471. This keeps that short delta, that short bias in our portfolio and gives us a chance to make some more money if stocks continue downward, which in this case, that's our assumption. And it fits into our overall portfolio. So that's kind of the thought process. It has to fit into the rest of our portfolio as well as satisfy the assumption that we have, which in this case is stocks going lower in the near term. So I hope that was helpful and showing you how to roll a short call vertical. Happy trading! If you'd like to learn more about how we've taught over 10,000 members how to trade options for consistent income, just go to our site navigationtrading.com, click on the big orange button, and we'll give you immediate access to our flagship course trading options for income. We'll also give you the navigation trading implied volatility indicator that you see on our charts, along with the watch list that we use to trade the most profitable symbols day in and day out. All this is yours, no cost. Just go to our site navigationtrading.com, and we look forward to seeing you on the inside.