just another play. No big deal. There's no point in paying more or extra for a play because that changes your risk per word profile. Sometimes I might go a little bit above the mid if I really set up or something like that. And as long as you're not having to hit the ask, then it's not too bad. All right. So a question from, I don't use lotion. It took me a while to read that. So playing butterfly during earnings is a good play. Question mark. Butterflies are one of the ways you can play earnings, okay? So for earnings, sometimes, everybody knows that earnings, after earnings you get Ivy Crush, right? It doesn't matter what your strike is, you're gonna get Ivy Crush. Now, your play can still be worth a lot if it's in the money and you got a big move in your direction, right? But most of the time, most of the contracts are gonna lose a ton of value because they're just getting Ivy Crush and the move wasn't big enough. So this is where a butterfly can come in handy if you think you can, you know, pin a rough area for the price. And that's because butterflies, again, benefit from high Ivy. And when high Ivy drops, your butterflies gain value, right? And ERs happen to elevate Ivy. This is why if you're playing an ER run-up, you can play long calls if you want on that, okay? But you can also play calendar calls. Calendar calls are a great way to play a run-up into ER because Ivy is increasing and that increases the value of your calendar spread. So once you get to ER, however, we expect Ivy to come down after the earnings report because now we know what earnings report is, we know what the results are, the move has been made, so Ivy drops because there's no as much volatility because the unknown is known. So at that time, that is where a butterfly spread could be advantageous and we're trying to benefit off of dropping Ivy, but a butterfly is a great way to do that. However, any type of ER play is always what I consider a lot of play. I would play small on those kinds of plays. I had a seminar, my first seminar actually was on ER calendar spreads. So normally ER calendars or calendar spreads benefit from increasing Ivy. So why do I play Ivy's for earnings report specifically? Well, that is because sometimes if you look for a specific setup, in that seminar I explained pretty clearly, but this will recap a little bit on that. ER, we expect the front-dated option to crush the most and back-dated options to not crush as much. So when I look for ER calendar spread, I'm betting that the stock is not gonna move much from the strike price that I picked for that calendar spread, right? And all I'm looking for is a Ivy crush play. And in that case, my most important criteria is how much Ivy skew there is. If the Ivy of the front-dated option is ridiculously high compared to the back-dated option, like 100% more. That is when I would do an ER calendar spread. That's the only time I do that. That's one of my criteria that I established when I was doing ER calendar spreads and I took a lot of them and I studied them and analyzed it and that's the conclusion I came to. Is that when ER skew between the front option and the back option is more than 100%, a lot of the times I could just open it on the last hour of the day before earnings report comes out and open that calendar spread and then the next or during that evening or the next morning, I just set a limit for 30% gain. Most of the time I will get filled in that opening volatility move in the first couple minutes of market opening after ER. So that's what I found to be very useful and I have a bunch of stats on it, analysis on it and that's how I came to that conclusion. I don't talk about them as much anymore because they are a lot of plays because in the end you never know what's gonna happen with any kind of ER play. It could go sky high, it could go all the way to the bottom of the ocean and then maybe it stays flat. So it's hard to predict and then you have to do a lot of plays in order to be overall profitable. And so overall my success with that strategy was pretty good, it was like, I think by the time when I stopped doing it, it was like maybe 70% or something and I only put like $1,000 per play, which I know for some people might be a lot but for me that it wasn't. It's really, really small amount and $1,000 per play. And overall I think when I decided to stop analyzing it, I think overall profit was like net profit was 60% or so so it's not too bad. But anyways, it's just a really, really risky way of playing ERs. If you wanna play ERs, it's one thing you can look at but there are a lot of other more consistent better strategies out there that we can manage better because ER we cannot manage, it's just hit or miss. But you know, if you wanna take a one day lot of, sure, go ahead as long as it meets criteria, I think it's a good way to play. Hopefully that answered your question. Do you suggest playing butterfly spreads on accounts that have PDT rule? This question was by Yoload69. So to answer your question, I mean yes, because I really only do butterfly spreads for swinging, right? Usually when I'm doing a multi leg strategy, it means I'm swinging, I'm not day trading. Do not use butterfly spreads for day trading. You can if you want, or maybe if it's like a zero date to expire, you're sure you can. But usually if you're day trading, that means that you're looking for really, really big moves in a short amount of time and that usually means that you're gonna be better off just getting a long call and then selling a long call, right? Once you get the move. Just a different type of trade style, right? I don't day trade much anymore, I used to, but now I find it better for me for my schedule just to swing trade. And so this is using option strategies is the better way to do it instead of doing a long call or a long put. But if you are day training, just long calls and long puts are great for day trades. They're really, really good momentum plays. So yes, butterflies aren't good for PDT because you're not day trading at all. So that probably answers your question in a different way, but yeah, you don't need PDT, you don't need a day trade with butterflies. You should not be day trading with butterflies. It's not the best strategy for day trades. So do you close them all at once or individually for the likes of the butterfly? That's a question by Yaba88 and yes, I do close them individually and I also close them all together at the same time. I think we might have mentioned this earlier. I will have a slide later giving a actual example of this. So just give me a second on this. And then we got another question from Big Swings. Can we follow your butterfly plays? I think you mentioned this earlier. Yes, you can follow my butterfly plays. I list them all on the Discord for X trades. So come and check us out if you haven't joined already. And also a side notes. For anybody who has a lifetime pilot and membership with that you do have two hours of mentoring, one on one mentoring. So if you want to get mentoring, I am available for that. We also have other folks in the chat who are also available for that. I know 007 was here earlier. He is also available on the mentoring list and he is the one who is regularly here Monday through Friday after hours doing your charts for you guys on this channel, Twitch channel. So if you guys want some mentoring that's where you would find it. But yeah, come and check us out on our Discord at X trades. The bot just posted up that link so you can join in there. Did I play Nike ER? No, I did not. What's the site for calculating the butterfly options? It's called option strats. Oh, I see young boy already answered that. Thank you. How do you avoid wash sales using this strategy? So wash sales is a little bit of a sticky situation and I don't really want to dive into that because that's more of a question for your tax professional and I am not a tax professional. But to put it from my understanding right and simply as possible, options, usually even though you're trading the same asset. So for example, if I'm trying options on spy, if it is a different strike in a different expiration, usually your broker is not gonna record it as the quote unquote same asset. However, if you look at the actual definitions by IRS, right? They don't really have much guidance on options to be honest and that is really disappointing. But in it, they only say assets that are similar or like each other, substantially similar. And I'm like, well, this is actually an option that is quote unquote substantially similar because I'm trading the same asset, just a different strike a different day. But I don't want to dive into that because that's just legal stuff and no one really knows because they don't have any examples of it. They don't provide any clear guidance on it. I've done research on this before. Just go with whatever a tax professional tells you. But yeah, usually with butterflies you, I mean, I wouldn't worry about watch sales. You can treat it as one whole play, right? When you open a butterfly spread. And I think this is why we IRS doesn't really have guidance on it because options get so complex when you do this. It's like, do I consider one butterfly to be one play or is each strike a different play? Yada, yada, yada, right? If I'm buying and selling multiple different strikes to create my one option strategy that has one name, right? Or if it's a ratio, whatever it is, is that one position? Is that one asset? Or is that multiple? Like, you know, it doesn't depending on how many strikes you picked. So there's a reason why there's not really clear guidance on that is because it's getting really confusing for them to manage. But usually at the end of the year, you'll get a, you know, four or no, not four, okay. I'm mixing up terms here. You'll get a, you'll get a, gee, what's the form we get for our brokers? Is it a 1099? No, whatever. Anyways, you get your tax form from your broker. Blinking out on that right now, but you get a tax form from your broker and it will say on it if you have any watch sales and you just put that number in. So I wouldn't worry about it. And the way the broker decides it is if the C-U-S, shoot, what is it? Basically, there's an ID number, C-U-S-I-D, something like that at C-S-U-I-D. But there's an ID number on every single options contract. If it is the same, then it will consider a watch sale. If it's not the same, then they won't consider a watch sale. So what I've noticed is that on my tax report forms, that if I play the same strike, even if it's a different expiration, it still has the same ID number. Why? I don't know, but it's the same strike. I guess it's, you know, doesn't matter what time you buy it for, but if you're buying the asset at the same price, then it's considered the same item, right? According to their system, right? And in those cases, it will consider it a watch sale. So if I'm doing a calendar spread, it's a watch sale. But I wouldn't worry about it too much, like for directional butterflies and things like that. Unless you're trading the same butterflies over and over again with the exact same strikes week after week. That's when it would become an issue, okay? But generally speaking, not really a big deal. Just report whatever your tax form says, and that's what you do. Of course, it's your responsibility to make sure your taxes are correct. But you know what? There's no good guidance on this anyways. So I think you're okay. And it is arguable that it's a different asset because it's not the same strike, not the same date, whatever. But then they may push back and they say it's substantially similar. I don't want to get into that. But yeah, I went into that longer than I wanted to. Just don't worry about watch sales. For the mentoring stuff, I will go contact Byron on our Discord for those questions. I do post my butterfly alerts, but not all of them. Sorry, I post my butterfly plays for my account, but not all of them. But I do mention all of the plays I take. So I may not be alerted, but I will mention it. So I would say I'm looking at this, but I won't be like, hey, I'm taking this right now at this price, at this time, all the time. And that's just because of time, right? Like I don't have time to be glued to my computer all day and report what position I'm taking and whatnot. I have a regular job outside of trading. Trading is not my main job, it's just a side gig for me, right? So that is why. And also I really rather people just learn how to trade for themselves instead of basing off, just copying my trades, right? Because I'm not always right. I never will be always right. And I'm wrong a lot of times too. I had a lot of flops in butterfly plays. I'm sure you guys have seen it, like Baidu. What else is there? X. I think that turned around eventually. Sometimes they turn around, sometimes they don't, but you know, I'm wrong and I'm right, whatever. I rather you guys learn for yourself and decide how to play it, right? That's really where you start making the real profit. So it was a 1099, thanks. C-U-S-I-P, thanks BigTax. I can't believe I forgot that. Thanks for answering that question. All right, I think we're done with questions here. If anybody's got any questions, feel free to drop it in the chat. And if the moderators can help me keep track of that, I would appreciate that a lot. All right, next slide. If we can go to the next slide. Okay, so this is kind of a summary slide, because I know we talk a lot about a lot of random stuff. I don't cover all the butterfly spreads here, obviously, but these are the ones that we mainly play, right? The ones I use the most. So we have the long call put butterfly. Doesn't matter if it's call or put. And this is the first one is at the money. So we do this when it is neutral. When we have a neutral bias, we don't want the stock to move. We sell at the money strikes, right? So that's the ratio below buy one in the money, so to add the money by one out of the money. Pros of it, high reward, limited risk, so it's cheap. But on the downside, it has a low probability of success and you have risk on both sides of the trade, meaning if it goes too far up and it goes too far down, you lose money because you need it to stay within your wings, your range, right? So now let's talk about a long call put butterfly, same thing, but it's out of the money. So depending on which way it's out of the money, it's directional towards that direction. So you can have a bearish bias or a bullish bias, but you're still mostly neutral, right, with these plays. So with this, you're gonna be buying one in the money or out of the money.  And then you're gonna sell two out of the money and you're gonna be directional up to those out of the money strikes, right? And then you're gonna buy one out of the money. So the advantages or differences between this one and the previous one is pretty much the same weight. Yeah, it's pretty much the same because this is still a regular long call put butterfly, nothing broken about the wings, but you just have a little bit more direction towards one side until that out of the money strike gets hit, that short strike gets hit. Now, if you want more direction, you can use a broken wing butterfly, either a debit version or the credit version, both of which I list here. So they're both more directional than just a long call butterfly or long put butterfly. And the way you do that is by skipping a strike, right? So for a debit butterfly, you're gonna buy one call or buy one put, doesn't matter. They're gonna buy one strike and then you're gonna skip one strike. So there's more of a space between it. And then you're gonna sell the next strike over twice and then buy the next strike. So that's a general idea. So by having that wider debit spread because that first strikes are gonna be your debit spread, then you're going to receive less credit relative to your debit and therefore your broken wing butterfly is still a debit play. We talked about this earlier with the option strat. Maybe I'll go over it again, but if you guys have any questions about that. But it has good reward compared to the previous two options. Usually the reward is slightly less and you also have a slightly higher risk. And remember, the risk is just meaning how much you're putting into the play, how much you can lose from the play, all right? So because it is more directional and you are eliminating risk on one side of the trade, right? As you remember, I should probably just pull it up. I don't have one. So let's just make this into a debit butterfly here. By limiting risk to one side of the trade, you're increasing the total costs of that play. And also your max profit goes down and that's just because you're putting more into the play. So that is what a debit butterfly does. Still has good reward less than these previous mentioned butterflies, but it has more risk cause it costs more. But on the other hand, you're on one side so you can just, you don't have to worry about, you know, being too high cause you still make money. Whereas with a regular butterfly, you start losing money just too far, okay? And then the credit version, same thing, but the only difference is that you require collateral and you're collecting credit. I think this is a better premium selling strategy. So credit butterfly, we go the opposite way, right? Now I'm getting in that credit and this is what my profit looks like, okay? So that's just a recap for you guys. Yeah, you can, I see a question here about a ghetto spreading into a butterfly. You can get a ghetto spread into a butterfly. And that's just basically like, for example, cause really a butterfly spread is just made up of a debit spread and a credit spread, right? So if you're bearish on a stock right now, right? You can just open same bearish on Netflix. I'm bearish on it below 550. I don't think it's gonna break 550. I think it's gonna drop over the next couple of days and then maybe it will bounce from there. Then maybe I can take a 550 to 600 credit spread and I open that first. Then Netflix over the next couple of days drops down to, I don't know, $500 exact. And for some reason you think it's gonna bounce there. And then I'm like, okay, it's gonna bounce now. I still don't think it's gonna break past 550 because there's resistance there. So I wanna hold onto this credit spread to make the map most out of it. So but now I'm gonna open my debit spread from 500 to 550 to make this a butterfly because I see support here at 500 and I think it's gonna bounce. So then you can open up that debit spread and then you can let it rise back into the middle of your range and collect profit on both ways. So that is, so one way you can do it, I don't do that, doesn't mean you can't. I just don't do that, right? But yeah, I've seen people do that before. Same thing with looking out, you can also look out. How to find butterfly place, the law you guys have been asking me and the law you guys have been asking about alerts, we do have it on our Discord. This past weekend I published our weekend analysis report where I took tickers from people and I analyzed them both fundamentally as well as by charts. Not so much on the fundamentals actually, mostly technicals because I wasn't doing that much research on those companies this past week but I publish a weekend report. I try to publish it every week and the third part of the weekend report is always gonna be my personal watch list and starting this past week, I converted it to my butterfly watch list and I basically listed out all the plays I took as well as the strikes, the expiration date, okay? So over here, I didn't list it because this is just a table of contents, you have to actually open the file to see it, right? But all the plays I took this week, all my challenge account, that my challenge account that went up 45%, right? The challenge account that I got 22K in one week. All those plays I took this week were straight from this watch list or I posted it in options alert, options swing or options watch list. There were zero plays I took on the account that were not mentioned. And in fact, the spot, one of my big winners on my biggest winner actually, on my challenge account this week, I think I got 14, and that probably about 14K on that play. That exact strike, exact expiration, exact strikes were all from the report. And so, I mean, like if you took that on Monday, like I did, you would have gained the same amount I did, at least percentage points, right?  But I mean, overall, I went up 350%, even if you bought in at a high price on Monday, you still would have made money. Not to say, just go blind in on these plays. The reason why it's a watch list is because I like the ideas, but you have to analyze it yourself, see if you agree with the idea. If you don't agree with the idea, don't take it. If you do, I mean, this is, I'm presenting and doing the research for you guys, right? It's just what I think a lot of people might not agree with the way I play either. So, just find a trade style that works for you. Please don't follow my plays just because it works for me because if you don't believe in the play yourself, it's really, really hard to hold a play out. I've taken people's plays before when I was first starting out and maybe they turn a profit in the end, but I sold it at a loss because I got shaken out because I did not believe in the play. So, these are just trade ideas, take it as you will. Same thing with alerts. You should be using those, even if I'm giving you an exact entry price of when I'm entering it, just because I take it doesn't mean it's a good idea, right? It just means I think it's a good idea. But it has to be something that matches your trade style as well. All right, enough spiel about that. And then we'll go to actually how to find butterfly plays other than me giving them to you. So, if you guys have any tickers later, shoot them, shot them out, put them in a chat and then we'll take a look at them and I'll set up a butterfly that I think is good for the play. All right, talking about licking out of butterflies, which we were talking about earlier, right? So, I know somebody also asked because they wanted to see the Baba play this week. I don't remember who asked for that, but I happen to have that in the slides so we left it off for now. So, if you look here, this is on, this is on, what is it, Tasty Works? Yep, Tasty Works. I bought two sets of butterflies on this. This is actually a regular butterfly, okay? So, it's not skewed, it's not a broken wing butterfly. Just a vanilla long-call butterfly. So, I opened on June 14th, Baba 212.5, 225 and 235. So, it's a 12.5 width for each wing. That was my long-call butterfly on Baba for 625. And I opened it for $3 each, I believe. So, that's $6 total. Or not $6, it was $600, right? And then on 624, so 10 days later, I laid out the play, right? So, you notice here that the only thing I did was I closed out my credit spread, right? And I bought back all my shorts. So, I bought all four 225 C's and then I also sold my long-call, that credit spread part of the butterfly, right? So, basically, after doing this, all I was left with on Baba were these long-calls. I was holding June 25th, 225, 225 strike calls on Thursday, this was two days ago. Because I basically closed the credit portion of my trade and the short position of my trade for 32 cents, times whatever, right? It was cheap to me, because I was like, I only had to pay a little bit more to get out of this trade. And you might be going, why did you link out at the point? Because Baba was really bullish. So, let's take a look at the chart to see why I did it. Okay, but that was an example of how I legged out in Baba or how you legged out of the butterfly play. If you are really bullish on the play and you think you could break out, you can just close the credit portion of this play. And I didn't just close the credit portion of the play, I closed the protective leg of my debit spread because I thought Baba was going to go to the moon. And you know what? It did, right? I mean, that's how you define moon, but this is Friday, right? It went from 221 open to at some point in the day 230. So yeah, it went up $9, $10, like that's a lot. So that's why I closed my credit spread because I was like, there's no point in playing this butterfly because it's gonna shoot. That was my thought anyways, right? So if we look here on Thursday, so I opened the play on the 14th, right? I opened it over here. I was like, the reason why I opened it was because Baba had been in a downtrend and I was getting a little bit antsy. I think I took the play a little bit early actually, but I took two weeks out on the play or one and a half weeks out because I felt like it was enough for Baba to bounce back. I felt like it was about time to bounce back. Well, here, there we go. So if you look here on the 14th, where is the 14th on this chart is right here. So Baba was around here, okay? The reason why I took it was because I felt like we had a shorter term trend line here that I felt was had a chance of holding. And the reason why I took a regular butterfly instead of a broken wing butterfly, like a debit broken wing butterfly or credit broken wing butterfly to add more directionality because I'm really trying to play a direction move here, because I'm thinking it's going to bounce off of this is because I wasn't that confident. I wasn't that confident that it was going to bounce for sure from here. I just felt like there was a chance it could bounce from here. It was a good area to take a play. I was like, maybe it bounces here, right? And it looks like we have support near here. Maybe we drop another dollar or two, but that's about it. I think this is a reasonable area of support. Maybe we take a couple of days longer. So I'm going to take more than a week out. So I took like about two weeks out. And that's why I did. And the reason why I took two weeks out is because I was playing aggressive, right? Like normally you can do longer than that if you want. This is just up to you on how you want to trade. There's no right or wrong way to do it. It's just a matter of how much risk you want and how you want to assess it. So the reason why I wasn't so sure also is because Baba had a really, really long term trend line, this blue line right here from 2016, right? So I traced that all the way up to this point here. And I was like, you know, maybe it doesn't hold this short term trend line because look how many short term trends got broken. This purple one right here got broken. This blue one right here got broken from this point right here. This purple one might break. It didn't fortunately for me, right? But I was like, maybe we break down and we go all the way down to 204, 205. So I wasn't sure if Baba was for sure going to bounce. But I liked the risk and reward aspect of it. So I was like, I'm going to open a regular long call butterfly that's out of the money or slightly in the money. I think it was slightly out of the money at the time. I think Baba was around 210 or so, 212 maybe. So I took 212.5, which is barely out of the money. But I took that and it took the regular butterfly because I wanted to reduce my risk of downside by reducing how much I paid for the trade because I would still make money up to 225. Why I picked 225? Because we had this resistance here. So we had this gap earlier in the year for Baba. So that's marked by these yellow horizontal lines here. And that's around 225 to 226, right? We're at top line. And then we also had a shorter line here. I marked this earlier from a previous drop in Baba. And this other line here is about 220. So I was like, it doesn't really act as support resistance. But I was like, I'm probably going to fall within this range. And then we peaked out here on Baba on May 28th at around 224 to 225 too. I think it's about 225. Yeah, 225.19. So I was like, maybe we'd pop back up over here. There's resistance before that too. But I felt pretty comfortable with that being between 220 to 225. And so I went for the middle and I was like, I'm just going to go get 222.5. Is that what I did or did I open 225? No, I actually opened 225. So I don't know. I was just trying to assess. I was trying to decide between 220 to 12.5. Let me even say it right, 222.5.  And 225, okay? So I was trying to decide between them and I just ended up going with more Polish one where I went with 225. And then I just sold the next strike over the same distance out, 12.5. So I did, oh, it actually is a Polish one. 10, but I did 10. So it was 235 instead of 237.5. I don't know if they even had 237.5, but I did 235. So I didn't want to have too much risk. I wanted to risk less money on the trade because I wasn't sure if it was going to bounce, right? And now my lines are all messed up because trading view does not know where the points are. But yeah, that's why I took that play. It's just because I wasn't fully confident, but I felt it was a pretty good risk to reward scenario. And I was like, if it breaks out like everything else is, it might go up really far, but chances are it could hit resistance here at 220 and just come back down. And to protect myself, I didn't make this very, very bull biased. So that's just how I decide my strikes. Usually I just keep shifting these tickers or these strikes around until I find something that suits my need. Like, oh, I'm just kind of bullish, but not super bullish, or I'm not bullish much at all. You know, that's how I always vary my strikes. Okay, so I opened that play on the 14th. It went down for a couple of days. It's not a really big deal. And it started hovering around here. And I was starting to think that it was gonna be a worthless play, because it went from $600 total, so $300 for each spread, to like, I think it was worth like $100 or something at some point this earlier this week. So I was like, yeah, it's just gonna expire worthless, whatever, I don't care, right? Because if you know me, I don't manage my losing place. I don't really care. Like, it's worth something or it's worth nothing for me, butterflies are low probability high reward plays. If it doesn't hit, sure I lose some money, but if it does hit, I'm gonna make a lot. And as long as I have enough place and I balance out my place, then it's fine. I do manage my winners though, right? I don't manage the losers because the play is just not worth managing. So it was worth $500 at this point, and I thought it was just gonna be worthless. And then suddenly on Wednesday or Tuesday or whatever it was, it started rising and it started going, I think at some point it was like $300. And I was like, oh, it's flat. Maybe I can get more out of it and it just started going up. And then on Thursday, 6 24, why did I close out the credit part of my spread and I just changed it to long calls? So the reason why was because it was forming this really, really nice pattern here of a cup. We were near the 50 MA too. This is a 50 daily SMA. And you know, everybody was just thinking it was going to break out. I became really, really bold biased because everything else in the market was running up. A lot of people were jumping into China plays and stuff. And then I was looking at my play and I'm like, the credit portion of my play I'm actually up on at this point because on Thursday, Baba was still below 220, right? This credit spread has been sitting around on me for over a week and it's still not in the money because it's 225 to 235. And then I was thinking to myself that if I can buy it back for cheap, why not just buy it back? Because I'm so bullish right now. And it was only 32 cents for me to close it out. So that's why I did. I just decided to buy it back for 32 cents. I thought it was worth it for a lot of basically. And I was like, if we pop over this 50 MA tomorrow chances are pretty high that we're going up to 225. And that's why I closed this credit spread because I felt this credit spread was at risk. 225, I didn't want to have to deal with waiting until the last hour to sell out my position because that 225 is going to have a premium value on it now because it's close to being in the money. And it actually went into in the money by the end of the day. So it was a good thing I bailed out of that anyways. But there's no way I could have predicted that, right? If you look here on the midday, you can see that Baba actually kind of met some resistance at this 225 area. And then it just suddenly moved at the end of the day. So I closed it before this last minute tick up tick on Baba. I did, however, roll my play out into a new play. So I took profit on Baba on Friday, sometime in the middle of the day, I don't remember when anymore. But it was up like $800 or something like that on this particular play. And I was pretty happy about it because I was down to being worth $100 at some point in the play. And I just wanted to show you guys the only reason why I'm bringing up this example is just because I'm showing you guys that I laid out a play and that you can do that too, if you have a reason to do so. The other reason why people might lay out a play is like if they, it applies more to when you're doing like credit type spread. So you're doing like a credit butterfly or something. You can roll out stuff to basically not lose on a certain position and keep rolling for additional credit until it actually works out. That sometimes works, sometimes it doesn't work, but we're not gonna talk about that today, but just letting you guys know that some people do roll out their spreads individually in order to help control or manage that position so that they can be green on that position. So I closed it out for 1040. And if you remember, I bought it for 300. So if you do the math at 740 times two, so that's actually like 14, almost $1,500 a profit because remember I had two, okay? I had two of these contracts and I had two of these butterflies originally. So $600 originally and then I closed it for this much. So $740 times two is how much I made minus this 32 cent debit times this. So that's that. So it was a really profitable trade. I got lucky obviously, you know, I would say luck is just as important as everything else in trading because we don't know what the market is gonna do. We just play probabilities. And then I rolled out the BABA play. So I picked up July 16th, which is 20 days out from that play and I opened three of these credit spreads because I am still bullish on BABA. And now notice that this width of this debit broken wing butterfly is a lot smaller than this one. So this one was 12.5 width and 10 width. In other words, it's only a 2.5 strike difference on this one for my bull buys. But this one is 35 and it got like what? Sorry, not 35, I got 25 and then got 10. So the ratio is a little bit different here. I'm obviously a lot more bullish now on BABA. Now that has broken above the 50 MA. So I was expecting it to reach up here to 230 at least. It looked like it hit that during market hours, but I opened this at 737 AM, which is one hour after the market opened. So at the end of the day, excuse me, this play was up $666 at close, exact. I think I posted that in winning trades because of the unusual number that it ended up in the green at. So, but yeah, that's just an example of me taking some trades. I was bullish because we broke over 225. I thought like 225 is probably gonna be a reasonable support area now. Probably just with the MA here at 220, but I'm just trading this bullish bias. And the reason why I picked 250 is because that's near where the 200 daily SMA is, and then I have this horizontal support resistance line up here too. So that's just what I'm looking for. I don't know if that's what's gonna happen, but that's just a trade I took. All right, that's it on legging out of butterflies and maybe even rolling butterflies. You can do the same thing with longer term butterflies. So you're doing like the four to six week butterfly strategy and you wait two weeks and so now you're four weeks an hour, about 28 days. You can wait one more week, 21 days. So about halfway through. So you play six weeks, wait three weeks, if you're into money, sell it, and then you roll out and you keep doing this. And then you just need to make sure you adjust the strikes to what is currently going on with the price action. Other considerations. I talk about this in every single thing, but I think I'm gonna skip this, but if you guys wanna look at that about assignment risk and stuff like that, you can read this. Usually assignment risk is most prevalent for ex-dividend dates. And that's just because if somebody can get a dividend for owning a stock, they may want to exercise before that record date for the dividend so that they get the dividend. And usually it's still pretty unusual, but it can happen. It's just more likely when those dates are occurring. You can read this slide out on your own time. It will be here on the recorded video. ER butterflies. So I know somebody asked about this earlier. If butterflies are good for ER, and yes, yes they are. And the reason is because ER increases IV, right? We went over that earlier. So this is the actual example, okay? I took this play in April, right? On April 30th, I posted it as a winning trade. I think April 30th was the Friday. So on that day, this was it. My smaller account had grown 500%, right? So that was from April 1st to April 30th, because April 1st is when I started this account, this challenge account. So April was being really, really bullish. I was playing a lot of these butterflies at that time. I mean, that account was all butterflies. I took a 3,400, 3,525, 3,650. So this is a regular butterfly, a really, really wide regular butterfly. And I opened that on April 28th, 2021. Okay, that was one state. That was two days before expiration. Did I even write down what the expiry was? No, I didn't. Okay, but anyways, this was a two-day expiration, two days to expire. The expiration date was 4, 30, 21, okay? It cost me $5,915 to open two of these. That's why you see, the reason you see eight contracts is because each butterfly is four contracts total, right? You have one buy, you have two sells, you have another buy. So that's four contracts, every single time you take one butterfly. So I had two butterfly spreads, so that's eight contracts, as well as eight contracts over here in this screenshot. And I returned 190 plus percent, as you can see here. So the Amazon ER was the following day in after hours, on Thursday after hours. I opened this on Wednesday. So this was one to slash two days before earnings report and two days before expiration. And that closed on Friday when Amazon crossed the middle strike. You can see here that Amazon, the price at this time when I took the screenshot was $3,530, which is pretty darn close. Pretty darn close to that middle strike that I sold. This is the ideal and perfect situation. Does this always happen? No. In fact, I say it's pretty much, it pretty much never happens, right? But I got lucky and voila, I made 11.5K on the trade. Great for me, right?  But let's go into something that you might care a little bit more about that is why I took the trade. So first of all, really risky, right? Two days out from expiration and you're taking this $5,000 bet, $6,000 bet.  Yeah, I kind of am. Kind of have to be, but Amazon, let's look at it. April 28th was when I opened the play. Let's try to find April 28th. Where is April 28th? And let me get a horizontal line going here so we can identify the time on the chart. So vertical line, did I say horizontal? I meant vertical. April 28th, it's right here. All right, so this blue line is April 28th, okay? Wow, crazy moves. All right. So on April 28th, Amazon was creating somewhere between $3,435 and there's actually a really large wick here, $3,480. And it closed the day at $3,457 around there, okay? I wish, there we go. Trying to get an hourly chart. All right, anyways. This is what we're looking at, April 28th. The earnings report was right here. It says April 30th here, and that's because it reported after hours on April 29th, which was Thursday. So we knew the results on April 30th, which was Friday. I took to play, I don't know when I took to play anymore, but let's just say I took around $3,460 or so, and then notice that I did a really, really wide butterfly. It was $125 in width. That's why it's so expensive. It cost me $6,000 to open two of these threads, or $3,000 each, right? That's not something most people can do on their small accounts anyways. If you're able to afford it, then do wide because wide is higher probability of a play, sorry, higher probability of the play hanging out, meaning that you're more likely to make money. Of course, your return gains is less, but that's the price you pay for having higher probability. So I took this because one previous support here, right? I saw support here. I was like, okay, chances are, we're probably not gonna break below 3,428, but we could, I don't know. But 3,400 looks decent here because I have a fib here at 3407 and basically the whole previous day I traded in this ring to keep bouncing off this area. We have these other peaks here, and so I was feeling pretty good that 3,400 would be a decent support. Of course, when you're looking at ER, anything can happen. It can blow through support, it can blow through resistance very, very easily. Honestly, you don't know what's gonna happen, but I wanted to take a lot of play on the ER and so that's what I did. I analyzed it and I was like 3,400 looks good. I think it's gonna be able to stay within this range. And then I sold, what was it, 3,525, which was up here. I actually marked that in orange, I have no idea why. I think this is, because it's near all-time high. Yeah, I don't know what I'm looking at anymore, but 3,525 was what I picked and I did 3,650 just to cover my basis, right? And I did a regular butterfly because I was, it was really, really expensive. If I did it broken on it, it would be even more expensive. And for a lot of play, I didn't really wanna do that. And the most important thing for these butterflies though, is that, or sorry, for ER butterflies though, is that you need to know what the expected move of Amazon is. I think the expected move of Amazon was, man, I don't even remember what it was anymore, but it was something like $100, maybe even more than $100. So I was thinking that, you know, Amazon is at $3,450, $3,470. Maybe we go up $100 to $3,570. And I was thinking about it, or maybe we go down below to $3,370. But there was that possibility, right? And then my play would be out of the money. But I was really bullish on Amazon at that time, because I don't know if you guys remember, but at that time there were a lot of rumors about Amazon having a split. And I know we get that rumor every single time we have ER, right? We get that rumor every single time. It's nothing new. It's been going on for over a year already, at least. And that's because Apple and Tesla split last year.  Must be Amazon. And so that's where the rumor started. And it's been proliferating. So at that time, there was a lot of talk about Amazon split, and then people were super bullish. And I was like, maybe it's gonna happen. So I was like, what's the expected move? And I'm like, let's include that in my strikes. And I'm gonna do it in the money, butterfly with an out of money strike, and just, you know, for a bullish bias direction. And as long as it's somewhere within that range, I will make money or at least break even. So because my butterfly was so wide, 3,400 to 3,525 to 3,650, it cost me a little bit less than 3K per trade, right? So that means that as long as Amazon was between 3,430 and 3,620, I would make money on this play. So I was bullish on the play. So I think the expected move was, I'm pretty sure it was over $100, but I don't remember how much anymore. But I'm gonna say like at least $120, right? So my expectations was that it was gonna be bullish. So I was like expected move plus or minus 120, but I'm both, so I'm gonna bet on bullish upside. So it was, my expected move would be about 3,600, right? And that would net me about 2K per spread, because my break even point was 3,630, right? So I felt like it was pretty good risk and reward. And usually after ERs, this is true for any stock, the stock moves so much after ERs. Like you see this happen all the time where it shoots up and then it retraces back and it fills the gap and it keeps going. And sometimes it just keeps dropping instead. But usually during the trade after an ER, and this is what I usually bet on when I do calendar spread ERs, right? The first seminar that we had, I don't know, three or four months ago, whenever that was. But the reason why I usually do these kinds of plays is because usually I think that it's gonna return at some point during the day back to, or return back to normal, right? And then it'll continue its move. And so that's what I was hoping for. And I remember being very, very, very nervous for ERs on April 29th, Thursday when they reported. And I got to scroll all the way back to April 29th now. I know there's a time finder. Let's go back, April 29th, right? Last Thursday, okay. So on April 29th, it went from $3,470 after hours and they reported and it shot all the way up to $3,670. I was freaking out. I was like, oh my goodness, my play is blown. Like this is a ridiculous move. But I was like, maybe it comes back down. I don't know. So I guess, you know, this is all about being lucky, right? It's nothing about planning or anything. At this point, it's pure luck. This is why ERs are all those. And then it retraced back throughout the evening. And then it was like 3,500, 3,550. And I'm like, this is perfect. If it opens like this tomorrow, I'm gonna be rolling in the cash, right? Because my strike was 3,525. And 3,550 is darn near close to Bullseye. For ER play, right? And then it opened, it cost 3,500 to 25, and I closed my play. And the rest is history. Nothing really special about that is smart. That's just really about being lucky, quote unquote. But the reason why I took the play, the reason why I made it so wide was because of the expected move. I was bullish. And then usually ERs do stuff like this. They go up and they go down. It's really, really volatile during the day. That's usually what happens. And so I was betting at some point during the day I would get a decent value to get out of my position, okay? That means you have to watch the position.  I mean, you could, but chances are, you know, for this kind of thing is expiring, you need to be watching it, right? If I don't have time to watch it, I'm not gonna be doing these kinds of plays. I'm gonna be playing, you know, my usual four to six week out butterfly plays, wait two to three weeks. If it's in profit, solid 25 to 50% profit, I'm good with it and then just keep rolling, right? But if I have time to play and I'm actively trading, then this is what I would do. Now, nothing really special again about the way I managed this trade. I just got lucky, right? The only thing was I set it up really wide to increase my probability of success. And another thing that is important is why did I, another reason why I took this play is because it was cheap. You might be like, time out.  This play cost $3,000 to play. But listen to me here. If I took this 3,400, 3,500, 25,000, 6,650 play any other time, it would have been a lot more expensive. The reason it was so cheap for such a wide spread is because IV was so high. And really, I'm just trying to drive home the point here is that when IV is high, this is when you wanna do a butterfly. If IV is low, it may not be the best time to do a butterfly. There are better plays out there. And let me show you an example of that. Darn, I closed it. Okay. I will just have to open, do it on here. I had a spread pulled up for, I think it was Disney. I actually mentioned this in an option swing chat. And I think a few folks played it. Roy's Dash and Moon. I think some other folks took it as well. But we are looking at Disney plays, right? And I know Roy's dad mentioned like, hey, I think that Disney will be a good play for a calendar spread. And you know what? Disney right now is at an IV rank of nine. What's IV rank mean? So IV rank is how the current IV compares to the past 365 days of IV. So this is a way of rating the IV to a specific ticker instead of just going like, what's the IV percent? Because this IV percent here at 19%. Like, you know, some stocks have just have naturally high IV, right? Like right now AMC is probably like, I don't know, over a hundred percent or something was just pulled up. Yeah, like it's 200% IV. It's like, oh, wow, it's really, really high. But does that matter? I mean, yes it does. But it's more important to look at the IV relative to what the options normally trade at. Because that's what we're trying to do with these spreads is that we're trying to assess which spread is better, which option is better for us relative to normal. And because the IV is low, the IV rank on Disney is nine right now. That means that 91% of days had an IV higher than right now for Disney. That means chances are more likely that IV is going to increase over time rather than decrease, okay? And why is that important? It's because you play butterfly spreads when IV is high. You play calendar spreads when IV is low. And let's look at a calendar spread. This is a butterfly spread, okay? This is what a profit chart looks like for a butterfly spread. Now we're gonna go over to call calendars and look at what it looks like. It looks kind of the same, right? Like you still got that 10. Still the same thing, you got break evens.  Same thing. So people always ask, wouldn't I play butterflies? Wouldn't I play calendars? It just depends on the IV. So if IV is high, that means butterflies are cheap. And then if IV goes down while you're holding those butterflies, they will rake in money faster. Whereas for calendar spreads, if IV is, you take them when IV is low, not because you want IV to be low, but because you want IV to increase from here. And the chances of IV increasing when it is low is higher, right? That's just how things work. Things bounce, things revert back to normal, right? That's how it works. So we take a calendar spread when IV is low. And if IV increases, I showed you guys the butterflies earlier, how that works, right? But with calendar spreads, when it increases, look how much more profitable you are, right? It just expands your chart, makes you more profitable, more green to see. So that's why we want to take calendar spreads when IV is very low because we expect that it can't go any lower, right? Or maybe it can, but chances are it's more likely that it's gonna go higher from here. So anyways, to illustrate that point, and this just goes back to the ER spiel I was talking about earlier, I took those because they were cheap because IV was very high on Amazon at that time. So it was a good risk and reward play to me. All right. I forgot why I actually alerted in the chat. 185C, I think is what I alerted, 185C. And I know I haven't been looking at the chat for a while for questions, but I will do that after I talk about this. So this is the player I posted in option swing chat for Disney. So I'm obviously bullish on it, that's why we have 185 strikes. And I did July 16th and July 2nd for this calendar call spread. Not exactly the best play in the world, but this is just something I was looking at and for illustration purposes. So it costs us $85 for this play. And notice the break even is 178.71 to 191.68. Now I'm gonna do a butterfly spread for the, and I'm gonna try to achieve the same break even. And I want you to pay attention to what the debit is and what the max profit is. And I'm sure you guys already know what I'm trying to say or what it's gonna look like, but just for visualization purposes, I want you guys to see it. And for those who are visual learners. So if I took, for example, a long call butterfly for July 2nd. And the reason why I do July 2nd is because the front option is expiring on July 2nd on this calendar call spread. So that's the only way you can really kind of comparably see it because this cutoff of this profit and losses on the 2nd. So what was I trying to achieve again? 178.71 to 191. So if I saw like say 185C because that's the same strike that I'm trying to pin it to here, right? So what would I have to do? Because in this calendar call, we want it to be at 185. That's our ideal. This is where we make max profit. With a calendar, I mean, with a butterfly spread is the same thing. We want to be at where we sold the strikes. 185 is our max profit. So that's why I set that there. Now let's see how far I have to drag these things in order to make it make sense. 15 out is 200, 170. Yep, that's $15 wide wings on both sides. 178.71 to 192.1. Okay, this is pretty close. Can I get closer? Excuse me. All right, 178.191. Not exactly the same, but it's pretty close. What happens if I do 175? Is that closer? 178.41 and 191.68. All right, so this is pretty close, right? Maybe I can make it a little bit tighter. Yeah, that goes over now, right? So it's somewhere in between, can get exactly the same, but it's gonna be somewhere in between here. But for the benefit of the doubt, I'm just gonna make the break even smaller to make it even easier for the butterfly, all right? So even when I make the break evens worse than the calendar spread, we're looking at $176 to take the butterfly versus $85 on the calendar spread, right? And let's look at percent two. So you get 260% at 185 on the calendar spread, and then you get, you actually got a lot more on this. You get 326%. But this is at a worse break even, right? So I went in and backed up, which is this is a lot more reasonable and in line with this break even. So if I try to achieve the break even of the same amount, obviously it cost me even more. Now it's $340. And the most I can get is at $85 is 193%. So I mean, I would say the risk and reward is might be pretty close. Okay, if you wanna put it that way, but regardless of whether it's close or not, it is in no questions asked here. The butterfly spread is a lot more expensive than a calendar spread for a similar play, right? We're trying to target 185, we're bullish on both. And we're trying to achieve the same break even protective area on the play. The calendar spread is just so much cheaper. That's why you would do a calendar spread here when IV is low. And in this case, Disney's IV rank is nine. So that's what you look for. That's when you play a calendar spread versus when you play a butterfly spread. A butterfly spread when IV is high and IV rank is high. So any of those meme stocks, whenever they go on a crazy run, great time to look at butterfly spreads. Same thing with ER plays. Butterflies could be really useful during ERs. If you want to play that kind of Lotto move, right? When IV is really, really high because IV always goes really high before ER because no one knows what's gonna happen. But yeah, I spew on IV, IV rank, when to play ER butterflies versus, I mean, sorry, when to play butterfly spreads relative to IV versus calendar spreads because they have similar profit profiles in reality. So I do use both calendar spreads and butterflies in my main account. But for my challenge account, I'm only doing butterflies. And just because it's a challenge, I wanna see how far I can go, right? Hands on application. So before we do this, this is basically the Q and A time. We're just gonna show stuff. If anybody has any tickers you guys wanna look at, I can look at them. And if you guys have any questions to ask right now that you want answered, feel free to drop them in the chat and I'm gonna check the chat real quick. So give me a moment here and I'll get start answering all those questions as I go through them. And I cannot believe that this session has been going on for three hours to 38 minutes already. This may be my longest session yet. Oh, I have not eaten lunch. So, Raja, you were asking about, could you explain the skip one strike again? That is a broken butterfly spread. And real quickly, just to show you, a broken wing butterfly, right? You can do it either credit or debit. I'm just gonna break it. So if this is my debit, sorry, if this is my long call butterfly that I'm playing and I wanna make it a skip strike butterfly, all I'm doing is I'm just making this lower. This is a debit version. So now you're skipping a strike, right? One 75 to 185, you're skipping over 180, right? And now you're, I mean, it's called a script strike butterfly because you're skipping more strikes here than you do over here on the right side of your trade or if you're doing it the reverse way, you can also do it the reverse way and do 180, right? And this becomes a, well, it's supposed to be a credit, credit butterfly. Normally you execute it for credit, like, I guess a strike's not worth enough to do that. All right, anyways, not gonna mess with it to try to show that. But yeah, that's basically it. Like all you're doing is that you're, there's more space on one side than the other. That's why it's called a broken wing butterfly because one of the wings is shorter than the other. That's all a skip strike butterfly is. Yeah, hopefully that makes sense. If you still don't get it, just shoot me a message on Discord, on our Xtrace Discord server and I will explain it in written format and show you. Big swings asking about how to close out 1, 3rd, 2, 3rds or keep a runner going. I always close out completely. I don't do runners on butterflies. When it's time to exit, it's time to exit. And if it's not time to exit, then I keep holding it until it's worthless. I just, I don't do those partial positions on that. However, when I do sometimes size into butterflies. So if I enter a butterfly and it goes down, I still think the setup is valid. I only do this for butterflies that are further out, like four to six weeks at least, maybe even longer than that, right? Then I might average down to play and I might open a few more. It just depends if the chart setup still supports it. But usually when I'm exiting, it's just one or nothing, right? I mean, not one or nothing, it's all or nothing, sorry. 100% or nothing. Where do you get the expected move from? So two ways you can get the expected move from your broker. A lot of brokers will show it to you. Maybe I will try to pull it up on Tastyewworks and show you guys. Nah, that doesn't take too long. But yeah, think or swim, Tasty Trades. Is it Tasty Trades or Tasty Works? I think the broker version is Tasty Works. Tasty Trades is their educational platform. But anyways, they show that on where they have their weekly expires, where they show the date of the expiration. On the far right side of the screen, you will see a little unexpected move, right? It will show IV in percent for that week, and it'll have in parentheses or something like that. And then our number, and that number is basically what the expected move is. And the other way you can find out what the expected move is, it's not exactly the same, but it's pretty close. Is you just find out what call and what put has a 16 delta, right? If you don't understand how that works, go and re-watch this video, because I talked about it earlier for like five or 10 minutes. But yeah, that's how you find out what the expected move is. Expected move is just one standard deviation. You can get that from other money calls and puts. Okay, I'm just reading a chat here. It's a yellow side on the VPBR Indicator bids and blue ask. Yes, they are buys and sells. They're not bids and ask. Where do we check IV? You can check IV again from your broker. If your broker does not tell you those things, then you can also check it on barchart.com. So I will show you that real quick here. I might lose my voice after today, which is kind of bad because I actually have some talks to give tomorrow. All right, so on barchart.com, let's zoom in so you guys can see this better. This is barchart.com, B-A-R-C-H-A-R-T.com. No S, okay. If you go to S, it's a different website. So we're gonna go to options here. If you look here, there's a tab that says IV rank and IV percentile. If you click that, you will find all the stocks, all the tickers listed according to their IV rank, IV percent, et cetera. So this is how you find it. You can also just type in the stock ticker name here and then pull it up, pull up their stock data or information and then it'll tell you what the IV rank, IV percent, all that information is on there. But usually I use this because I am looking for plays that have high IV. If you've read any of my account challenge update posts, a couple of the past ones have said, continuing to chase high IV. Why? Because butterflies benefit from high IV. So I'm always looking for high IV plays because I wanna benefit from that, right? So that's what I'm looking for. I'm IV chasing. But yeah, this is how you find it. So IV rank, it explains it here. It's just according to past year and then there's also IV percentile, okay? So you can use either IV rank or IV percentile. They both work. They're a little bit different in how and what they measure, but they both are assessing the IV relative to past performance for that stock. And then you have implied volatility, which is IV. And this IV is just showing what the IV for that ticker is for those active money calls and puts and stuff.  I don't know. It sounds high to me. I mean, Disney was like, what, 11% or something? But then you go over here and you look, okay, the IV ring is only 12%, 12, 13%, the IV percentile is only 17%. That means relative to usual. Tesla is not very hot right now, okay? So that's that. That's just relative, right? I think this is gonna start picking up again. But anyways, so this is how you find it out if you don't, if your broker doesn't tell you, okay? Enough about that. Going back to other questions here. So I know people, big tax has to be ranked, checking IV, we went over that with bar charts. What is the limit to say if IV is high or low? So 30% higher, sorry, IV rank greater than 30 is considered high, IV rank below 30 is considered low. That is my, what do you call it, yardstick ruler? Yeah, for measuring that. Yep, 007, welcome back. I am still going and I am ready to be done. IV is found on most brokers. Oh yeah, that's just another question about the same thing. Is there a website or a platform to view IV? Again, barchart.com. How quickly does Robinhood close butterfly? It's actually kind of hard to close butterflies because there are so many strikes to it and Robinhood isn't the best at filling. So but if you close below the mid, usually you can get filled. Not too difficult, right? If you're trying to get the optimal price, chances are you're gonna be waiting for a very long time and you might never get filled until the underlying asset moves and therefore your mid price is no longer mid price. So it's not that great for that. But yeah, I just, if I need to get out, I always just lower it, not a big deal. You might lose a little bit here and there but if you have a large account, I would definitely recommend a better broker, even though they charge fees or whatever, it's worth it, right? Usually I use Robinhood as my small challenge account and I never go over 25K until this time. And that's just because I wanna see how far I can go with butterflies only on this challenge account. So recommend using another broker. I like tasting myself and I know Double S7 probably has his referral links if he wants to post those. The two call options covered obligation, this is a question by Yaba. The two call options covered obligation to sell shares for the two sold calls, question mark, right? Does no need to own shares in the case of assignment, your two call options will be covered. Yes, that is completely correct. A butterfly is a completely covered play. We have no risk in those terms. However, we do lose out on our premium paid to open the butterflies if somebody exercises both of those strikes that we shorted. And that's just because with the way a regular butterfly is set up, we basically come to a net cost or a break even of zero, right? If someone exercises, because you have same width across both wings, then basically your loss and your profit cancels each other out, you're at zero dollars. But in order to open that butterfly, you pay some money. But on the other hand, you can't lose more than that. That's your max loss. Ideally, no one exercises, right? Ideally, you can just sell it before expiration with good profits. Over 50 is considered high volatility. There's a question by I don't use lotion. And you probably already know now because I said it earlier, but it's dirty. I mean, over 50 is good too. Over 50 is good too. But you just need to have an IV rank over 30. And at that point, it's already considered good enough for very good butterflies. And I actually use butterflies even when IV rank is lower than that. But not that often, because usually a calendar spread would be a better option than a butterfly. But I might still do a butterfly if I'm trying to create like a broken wing or something like that, where I have more directional bias then I might still use a butterfly. But this is really, really situational and it just depends. For every single trade, I'm always analyzing what strategy is best for that situation. There is no one best strategy. It just depends on you, how you want to trade and what your risk tolerance is, what your objectives are, how much time you have to trade. If you are a day trader, use your full-time trading. You can monitor those options every single day and you're watching those charts. Sure, go ahead with your long calls and your long puts. You know, trading on volatility, that's totally fine. If you're a swing trader and you don't have time, you work a full-time job or you just don't want to be staring at the chart all day, then maybe you want to consider some other types of strategies, which is what we talk about here. Oh, sorry. You never left 007? Man, how far behind am I right now? So this was only going to be an hour or two still going? Yeah, I know, right? This is what always happened. I always say I'm going to try to keep it short, but I always keep going until I'm done and I've answered all the questions. I definitely am losing my voice now. Thanks for posting that link for Referral Young Bowl. If you guys need any broker or stuff like that, join our Discord and also check out that link Young Bowl just posted. That's the link to Referral Links. By 007, if you guys need any referrals to brokers such as TastyTrade, EatTrade, I don't remember what else you have on there, 007. But yeah, check those links out. For meme stocks, their Ivy rings seem to be very high and we are projecting a bullish market. Which tickers are you looking at for butterfly call spreads? So, you know, join our Discord and wait for Sunday because I will post my watch list of butterflies and tickers with butterfly suggestions for you guys to look at. And you guys can choose to take them or not. As I mentioned earlier, all my plays are from that watch list on my small challenge account. It's not that small anymore, but my challenge account, right? And, you know, I haven't taken any plays that I haven't mentioned in chat. So just hop on to our Discord channel and, you know, you can follow me, whatever. And I'll be posting up ideas all the time. It doesn't mean that all the ideas are gonna be profitable because that's not the case at all. I lose a lot. I mentioned this earlier as well. But I also win pretty often and the wins obviously outweigh the loss, it's right. I think my win rate is, I don't know, I've never actually tracked my butterfly win rate, but I think it's probably around 70%, I'd say something like that. Yeah, somewhere around there. But then usually when I win, like if you guys look at winning trades, you probably notice that most of, every sometime I post a win, it's like 150, 200%, 300%, even 400% sometimes, right? Like that's usually how these go because I hold them to expiration and they're basically YOLOs for me. And that basically pays off and it covers all the losses, more than all the losses. Like let's be real here, that's the only way it's possible for me to grow an account from 2K to 72K in less than three months is because it's very aggressive, very high risk, okay? Enough about that. But I will go over tickers for you guys. So, but yeah, check out our Discord if you guys wanna see plays to tick. Again, I recommend you guys to analyze the place yourself to see if it's actually something you agree with because that is the most important. Don't try it because somebody else thinks something because we are all wrong sometimes. No matter how good our track records are, like everybody on our Discord, like all our top traders, our analysts and even some of our regulars, most of us have pretty good win rates, right? Like 70, 80%, some folks, most folks probably have over 50% and then some people don't have such great win rates but win rate is just one metric. It doesn't matter how high your win rate is if you're not making money because you could be right 100 times but if you're making only $1 on the trade, it doesn't mean anything. So, tick win rate with a grain of salt too. But yeah, people are right and people are wrong. It doesn't matter, we're all just guessing here. Just make sure your risk management is good and you're assessing those trades appropriately and that's really how you make money. But yeah, let's take a look if there are any good plays right now because that's what I really wanna do. If somebody has a ticker they want me to look at, drop it in the chat, otherwise I'm gonna use bartrack.com and I'm gonna try to find some plays using bartrack.com. So you guys know how to find those plays for yourself to even if you have no idea where to start. Plug, okay. We can take a look at that. I don't use solution, we'll check that out. MA bros86, you're thinking about Regeneron 555.7580. Yeah, we can look at Regeneron too. So I got Plug and Regeneron on the list and I'm gonna do what 007 always do and I'm gonna have a little text document here because I am going to forget, right? So Plug and then we also have Regeneron. Yeah, okay, whatever. Anybody else? So I see Clove, Wish, Tesla, try to limit it to one ticker per person please. So who was Plug? I don't use lotion. Man, I'm not gonna be able to keep track of all this. I don't know how you do this all the time though, 007. All right, so JB, Bow. I don't know if the Bow is supposed to be like a bun or not, but that's what I'm reading it as. Clove and Wish, Tesla. We're just gonna do Clove. I'm gonna put Clove down. If you want me to do another ticker, let me know, but I'm only gonna do one per person at most and I'm probably only gonna do like five or six because otherwise I am, I mean, I'm already tired but I just wanna make sure you guys have examples too. Rules and the Allergan, boom, bat once, Baidu, young bull once, Chewie. All right, we got a couple of people saying Baidu. Mashion only is Disney. For Disney, I would not do a butterfly. Again, we're gonna be doing those calendar spreads and that's good. I already posted one in Option Swings yesterday and that is the one I'm actually in, like it's already open. So I will not be reviewing that but if you wanna check that out, I would look at that. It's a 185C for Disney, 716 is the back date and 7.2 is the front date. I'm obviously bullish on Disney. Yeah, I know some people are doing 190s but I'm not that bullish, so I did 185. TTD, M-R-N-A, TTD, TTD, I am tripping up over my words. M-R-N-A and X, this is it. No more guys. If you guys want me to do like more chart stuff, we, I mean, you can send me a DM or something but I don't think I'm gonna be doing any more to take. I think this list is long enough. Sorry, photo warrior. I guess I'll add that HD. No more, please. We're gonna go through this. Start with plug, okay? Plug, plug, plug. All right, I think I, don't I have some plug plays open already? I do, I do. I don't remember what they are because I always forget stuff I'm in because I have so many plays open. This is also why I only have like three to four tickers, max, expiring every single week because this allows me to manage my plays better and plays that are expiring further out, I don't care about as much if it's losing like whatever, if it's winning, great. But I only manage the plays that are expiring soon. One to two weeks at most, that's why I started looking at them because I'm trying to make sure I am managing those profits, right? Once we are in profit, I wanna make sure I'm keeping those profits. And if it's still in a profitable range, I'm gonna keep holding it until it becomes a point where I'm like, okay, resistance estimate, support and resistance is here. That might move me out of my profitability range. Time to close, right? As I explained earlier, why I have a lot of plays open and I don't always know exactly what play I am in because I don't really monitor or manage them until it becomes one to two weeks. That's when I actively manage positions. Okay, plug here looks pretty good. I think I have a 35, 45, 50 for July 16th is what I have open. And those were actually up like 70, 80% after earnings report because of this spike. And now it's back down to like almost break even, which is pretty sad, but I'm still holding them.  So I was up like a thousand, thousand 200 dollars and now it's back to a thousand five hundred. Not worried about it. There's still time on the play. I am the only concern might has is if it breaks down. So what I'm seeing here is there's a small potential for a cup and a handle, but I'm really hoping that it holds this MA right here. This dotted MA right here is the hundred. No, it is not. This is a 20 daily SMA. This dotted line right here is a 20 daily SMA. And then we have the 50 SMA, 50 daily SMA here in the solid blue line. So we were bouncing off of that. So this is where I would expect to hold support. And once we break down below this level, this 50 daily SMA, I'm going to continue holding these plugs. Sorry to plug both butterflies until expiration. If we break down below this and at that point, I'd be like, yeah, even if the butterflies aren't worth that much anymore, I might choose to close it at that time. Or if it's really worth like not much at all, like a couple hundred bucks, then I might just be like, okay, whatever. I'm just going to hold it until expiration. See if we get a run again, probably not, but sometimes it happens with this market you never know. You know, stocks go up and down all the time. It's normal, right? Like these wide moves happens all the time. So that's why I hold onto butterflies is because it's a limited risk profile play. There's not really much of a point in cutting it. If you're un-hedged, in other words, you're playing long calls, long puts, and that's when you need to have more rigid stop losses on your plays because your play is uncapped. With a butterfly with a vertical spread, with a calendar spread, with any type of hedged play, you're already limiting your risk by selling a call. We're also limiting our reward, but we're limiting our risk. So because our risk is already limited, we don't have to worry about it as much. So anyways, plug. If I were to open a new position right now, I would probably wait, you know? I'd be like, I don't want to see it bounce off of this 20 daily SMA or I want to see it reach back down here at 28. And if it goes back down here at 28, I'll probably take something like 30 and maybe go for here. So I'll go for 37 or 38 and then I would stretch out the butterfly to 40 or something like that. There's also gap fill up here, which is why I took the play I did. I did 35, 45, because 45 is close to where your gap fill is, and 50. If we can go there or not, I don't know, but that's just what I did. Yeah. So that's what I would do right now. 30, 30 to maybe 37, and then how why do you want to make that upper strike this up to you, just depending on your risk tolerance. So just to quickly show. Let's pull up a lot. And you should basically off of the time expected. So I usually like to do one or two weeks out because I feel like it's more predictable, but you can do, I also do four to six weeks out when I'm not as sure or confident about a move, which is right now. I'm not as confident. It's going to start immediately going back up from here, whereas it looks like it could, you know, pallow, make a shallow pan for a bit and then come back up, right? So maybe I might choose to do 716 at the minimum or I might even go further out. But yeah, that's what I would do. 30, if you want to feel more confident, 35 is reasonable with 37 and then we're going to do, unfortunately we don't have anything further than that, 44, right? So that would be your perfect butterfly, a regular butterfly, and that would be our range. You can show in this too, if you're more bullish to give it that more of that vertical dead at spread nature, right? That's what we talked about earlier. So if you think plug is going to blow through the roof, like it's really bullish right now, then that's what you would do. But I think a regular butterfly would be reasonable right now, just because this could go down, continue going down, so maybe I want to limit my risk a little bit more by reducing the cost of my play by doing a regular butterfly instead of a debit propelling butterfly. If this was something else, like for example, well, let's not talk about that, but those what as, we're going to go on to the next ticker. Maybe we're going to find something that lets me explain it. All right. Longest stream, yeah, it's pretty long. In reality, this seminar could have been multiple seminars because I explained not only regular long butterflies, but I talked about broken wing butterflies, credit, debit, calendar, tree, butterflies, and so forth. So usually those would each be a different seminar. Just trying to cram everything into one session. Not really the smartest move probably. Let's look at Regeneron. Should I drop these things into chat? I don't know if you guys want it. Butterfly, B, B fly, yeah. Do I have to create a count? No, I don't, thank goodness. Because I was, I don't feel like logging into my account right now and I don't even know what the password is. Somehow I feel like, yep, I cannot post my stuff into the stream chat because I am not logged in. All right. If you guys need that idea, the video is always here. All right, Regeneron. Regeneron, oh, it's been running. So this is something that I would choose to do a broken wing butterfly on, okay? And opt to do debit. You can do credit broken wing butterfly as well. It's the same thing, but just what are you choose to use a collateral and receive a credit or to do a debit, right? I usually prefer to do debit broken wing butterflies. But yeah, this looks really, really bullish and it's looking like it's going on a run. So this is where I would choose to do more of a debit broken wing butterfly instead of just a regular butterfly. Of course, it could just reject here at 558, right? So we form a kind of a cup shape here and maybe we pan down and make a handle.  That is possible. But at the same time, because the market is so bullish and this is huge volume camera right here, see this huge volume candle on Friday, maybe we just break up and keep going. So this is where I would do a, you know, that debit broken wing butterfly and I would choose to cover my upside just in case we break over. Even if I expect that 560 is gonna be my resistance or 559, I'll probably do 560. And when deciding where to pick that strike, you know, of course we're gonna pick the other resistance that we think, but you can pick below or above. You know, that's just how confident you feel in the play and sometimes the cost of the play as well. So I reach in around feeling a little bit more confident and bullish about this one. Maybe not so much confident, but it is very bullish. So I would be taking a bullish play on this. For July 16th, the game piece is about two weeks out from next week. And I think that's a reasonable time. Monthly contracts are also more liquid so you don't have to deal as much with bad bid and ask spreads because some tickers, you cannot trade butterflies on because that, you know, the spread is just too wide. Like I've seen $10 wide bid as spreads on my butterflies before. And I'm like, yeah, I am not playing that. Looks good, but can't play it, you know. So what did I say again, 560? So that doesn't give us very much room, but if I was looking for a breakout play instead and maybe I'm thinking that this was gonna break out, then I would choose 560 as my base and then I would pick 580 as my sold calls and then I would just find the other play, right? But let's just say that I wanna be more conservative and I'm like, I'm not sure if this line is gonna break out. Then, you know, sometimes if I wanna do that, then I will take the support and I say I think support. I mean, support is probably all the way down here at 513, right? Or maybe this will hold, 540. And I think this is reasonable. It looks like it could be support. You see that it whipped up here twice and then it rejected before. And you can kind of see that it's been in previous area. That's probably why I haven't marked out here. So it's acted as a kind of a resistance before too. So you can see that here where every single candle was just touching this and it just keeps going down and it broke up, it whipped up and then it kept going down. So basically, this is a good resistance area. That wasn't even a prop line, but which line was it? Oh, was this one? Same thing, you know, it acted as support and resistance here. Try to break over here. So that's why we're using that. So 540, if I was doing a more conservative play on Regeneron, so I picked 540 as my base. So then you notice that this is in the money, right? It's in the money butterfly. And then I'll pick my price target, which is 60, right? Because I think it's gonna be, maybe meet resistance over here. And then I think it might have a chance of breaking out. So normally, if you're just doing a regular butterfly, you would have a really, really small one, about 540, 560, 580, which makes this a really pretty cheap play. Like this is a one to, I don't know, seven? Can't map. 280 times six, 1,200, 480, 1,600, 880. So it's about one to six play actually. And probably the easiest way to see that would be to pull up the profit and loss percentile, right? Yeah. If you can get 560 to show up on this by adjusting this and you probably see about 600%. Okay, so anyways, about one to six. So it's really, really high, higher than what I would normally take. And that's because this is a really, really narrow butterfly for three weeks out, two to three weeks out, right? So this is not something I would normally do. And instead, I would shorten the timeframe. I would even do weeklies, right? Or maybe July 9th, if I'm not feeling that confident about the move. But for this kind of play, where I have set up those strikes, and I always pick the strikes based on what I expect price action to be, but because this price action is such a short timeframe price action, like I expected, you know, hit here, bounce here, go back up, something like that, right? That's why I have to go shorter in my expiration date. July 16th just doesn't cut it. Like you're, I mean, like if it works, it works, right? But a chance of me pinning this 560 to three weeks out is unlikely. This play is much more likely to play out this week, in fact. So, you know, you'd either do a second or a ninth, right? And notice it costs more, right? And why does it cost more? It's because remember that dartboard analogy, the dartboard is now closer to you, much easier to hit that bullseye. You move the dartboard forward or out, I'm not gonna do that because, hey, your chance of hitting that bullseye is a lot less. So it's like, if you're at like, I don't know, a carnival or a fair, playing one of those games, right? But yeah. So I'd either do July second or July ninth for this kind of play. And I'm actually bullskew it a little bit. So I'd probably do 540, 560, 570, just to give myself a little bit of upside in case it breaks out here.  So I'll probably do July second. And this is, of course, a risky play. July second or July ninth, we'll find. I just know that if you do July ninth, you probably won't get as much juice out of it. So, but yeah. So look at that. Probably July ninth is probably my ideal. And to manage this play, you know, like you can break to 560 this week.  Your range is infinite because you now is a broken wing butterfly, but you're just capped. It's not gonna go any higher than 59% or $370. Because that's basically the difference between these two spreads and your debit, right? So $370 is the most you will ever get. But in that case, what happens is if you break out really, really far, you can just keep holding it. Like you're already a max profit. There's no reason not to hold it. And that's if you expect a pullback, right? And then if sometime later you pull back by July ninth, then you would make profit on this play because all you're doing is you have no risk to the upside. And if you're like at $692, say, I don't know, Wednesday, you're at $370 profit. Your profit margin is actually highest at the sole strike, 560. So because we don't have any upside risk, you can just hold it until July ninth until it drops back to this price. If it doesn't drop to this price, then no loss, right? You just had the loss of opportunity because your money is stuck in the play that it's not doing anything. But sometimes it's worth the risk if you pop up a little bit over your expectations and a broken wing butterfly and you're ready at max profit and you think that maybe it could retrace back, that's where you would hold it. Okay, so that's what I would do for Regeneron. Hopefully that helps. Man, I can't believe you guys are still here. And I can't believe I'm still here. Clove, okay. You know, here's what I'm gonna do. I'm probably just gonna do one more on stream, Clove. And I'm gonna take a look at these, the rest of these later. And then I am just gonna post them up in options watch list or something. And I'll add everyone. So if you guys wanna see what my thoughts are, and I'm not gonna do that today, I'm probably gonna do that tomorrow. Because I am, yeah, ready. So we're just gonna do one more. This chart, I don't know. Yeah, I remember this. I remember taking some butterflies on Clove. Clover, health investments, like a couple of weeks ago when they did this. It was a wild ride. I don't think I made anything on it. I think I lost money on it, actually. But it was really, really cheap to play. I think I did like 15, some absurd number, 20, some five, whatever, and 50, I don't know. I don't remember. I think it had enough strikes for me to do what I wanted to do. So I had to really, really fudge around with the numbers for this play. I didn't make any money on it because Clove just kept dropping. But it was a really, really cheap play, really, really high reward to risk ratio. And that's because the IV just went sky high when I did this. So I didn't lose much, but of course I lost 100% of the play because I didn't cut it. And that's usually how I do that. But let's see what Clove is doing now. I want to see a bounce off of this MA here, which is the 20 Daily SMA. If it doesn't hold that, it's probably gonna go down below. And the problem with Clove and Traindy's meme stocks is, I can't predict what's gonna happen to them. Like, I don't know what's gonna happen. Like, if it's only kind of distraction again or lost your bets or they start buying up again, then it just goes up. And if they don't, then, you know, it's just gonna consolidate down here, just like, if you pull up GME or AMC or any other ticker from January, I mean, Clove did the same thing in January because it was among those stocks too back then. But you know, it just kind of consolidated until the next big move. And we don't know when that's gonna be. So it's really, really hard to play Clove like this, but I think the IV is probably pretty high on Clove. So it's probably cheap to play. As for predicting what's gonna happen, honestly, on these meme stocks, I always play one week. Why? Because I don't know what's gonna happen to the stock. It's easier for me to try to pin a price within a one week range than a couple of week range. I do have longer plays on GME, however. I'm putting off an attention here. Bear with me. But for GME, why did I take some longer calendars plays on GMEs? Because we have a very nice symmetrical triangle here. Maybe not very nice, but it's pretty good, right? Like you got this symmetrical triangle pattern. We might be forming some kind of cup here. I opened some 716, which is only three weeks out now. Calendar call spreads on GME for 200, 300, 400. So I know it was really wide, but it's because, you know, this is so, GME is one of the meme tickers, so it's a high IV, but it's also because I expect it to bounce off of this level about 200, right? We have trend lines here, which kind of broken through, right? We have this lower trend line here, which is another five, $10 lower, but we also have this, I have this line support resistance line drawn here and you can see how it's reacted off of this line before in the past and it's been kind of consolidating here right now. So I'm hoping that it goes like this and then it goes back up. But I don't know if that's going to happen or not, but I took a further out GME calendar call spread because I feel like the consolidation is going to take some time and then it's going to rise. And then it's cheap to play further out, right? And I made it really wide. So that's why I did for GME, but going back to Clove. Hey, type that ring wrong, Clove. Clove is, where are we going? The question everybody wants answered. Where are we going? Let me get rid of extended hours. So yeah, I don't really have any directional bias on Clove. So I don't know how to play this. Right now I feel like it wants to go back down, if anything, but I'm also watching this 20 daily SMA here for a possible bounce, because that's what it did here. Right, it hit the 20 daily SMA right here on this perfectly, right? And then it bounced up, and now it looks like it's coming back down. So here's what I would do is I would wait to see if Clove goes back down here to 12.5, 12.6, 12.7, somewhere around there, 12.6 maybe, and see if it bounces off this 20 daily SMA. If it bounces off of it, that's where I would take an hour of the money, or not calendar, out of money long call butterfly on Clove. And why is because it's a meme stock, so that's why I would have more directional bias on it. If it starts moving, it's gonna really move. So that's what I would do. I would not choose to choose to do a regular butterfly for the same reason, because when these things shoot up, they really go up really fast. So I know Clove has been having some issues with the 15 mark, and it's been heavily traded around this area about 15 before, and if you look at this gap here, it's about 16, right? So if you look at this gap, it did in the previous meme run, major meme run a couple of weeks ago, you see that it rejected this area, right? So 15, 16, it's gonna be tough to break past this area. So yeah, I wait for the hit 12.6, 12.5, whatever, or if it starts bouncing here, that's good too, right? And then you can take some out of the money call spreads. So let's go look at Clove. Oh, not calendar call spreads. I keep saying calendar call spreads. I mean to say long call butterflies. So I feel like July 16 is actually okay too on Clove, because it could do something like this for a while, right? It could do July night. Let's just do the July 16th right now. My price target would be 15 or 16. Well, you know those 15.5, let's do that. Or I don't like it because I don't really like those 15 numbers. So let's just do this for now. Look at 12, that's real good, right? It is real good, and this is even in the money. It's not even out of the money. So usually I just play with the numbers until I get something that matches my expectations of price action. That's all I'm really doing is I'm trying to match my price expectations based on chart, based on expected move, which is based on standard deviations of historical moves, et cetera. And I'm trying to match it with my break even price and what I think is gonna be the price of the ticker. And of course I wanted it to be at the middle strike on July 16th, but we hit it before then. So that is fine too. Sometimes you need to get out early if it goes on a major run. That is what I had to do on Tesla and Roku this week. Cause I had 615, 630, 645 call butterfly on Tesla. I opened it on Monday this week. And within one or two days, I don't remember how long it was anymore, but it blew way past that. It went up to practically 700 something dollars, right? So when it blew past 640, Tesla has momentum. I cannot hold this butterfly anymore, even though it was a broken wing butterfly. So I would still be okay, but I was like, there's no point in holding it because I lose a little bit because I make more when it's closer to my middle strike still and it's still early on in the trade. So I just closed it out and then I didn't look back. But so that's the risk. Sometimes if it blows out, blows past, you have to be real careful and you just got to take profits early. So if that happens with clove before, and it does that within a couple of days, instead of my expectations of taking longer for it to play out, then sometimes you just have to take your profits early. So as I said, I like to manage my winners. I don't manage my losers.  It's time to get out because it's no longer. The risk and reward is not there. The chance that it's gonna blow past your strikes is really high, so it's not worth holding it for that small premium collection probably. Okay. So I made this a broken wing, a debit broken wing just to give us that more bullish bias. And now you can see that the break even is above 1277, which if you are bullish on clove, this is great because that means you can't lose if it's above 1277, which is above where our 20 daily SMA is. So if you believe in this play, this is a good play to take. I would look at, yeah, even if you do bid and ask, it's still not bad. It's $77, $90, and you have a potential to make 4X, right? That's profit. So I think this is a pretty good risk-reward trade. And you might have noticed that this looks really different from some of the other plays that we looked at earlier. And that's because clove is a mean stock and its IV rank is really, really, really high right now. And that's why these butterflies are so cheap to play. This is why we chase high IV when we play butterflies. So look at this IV, 183% versus what we were looking at earlier with Disney, right? Like, it's night and day, right? Like if I do July 16th, I'm a one-to-one risk-reward trade. And this is because IV is so low. That's why we're choosing to do calendar spreads instead of butterflies on Disney. Trying to hit home that point again. Look for those high IV plays if you want to play butterflies because that's where you get the cheap, high-reward, low-risk plays. So yeah, anyways, I like this. I think this is a good setup if you're bullish. If you are bearish, however, you know, maybe we can go back down. I would expect to at least go back down here, 1170, which is near where we started gapping up from previously a couple of weeks ago. And even further, we may retrace back to 200 daily SMA or the 50 daily SMA is where I'll look for next supports. So that's about 10. Just for an example, if you are doing a put butterfly, let's just show it to you.  So let's just take a look at, you know, if you want to play a put butterfly, what would you do? Just for demonstration. So, you know, I would say maybe resistance will be at, you know, the previous higher day, 1384. So maybe I'll do like 14. Okay, that would be my base. And I like to do in the money a lot of times, just because I like to get the break even below or above, you know, where my current price is depending on which direction I'm going. Because I want to be like, if we stay flat, am I still gonna make money? And the answer is, if that's the case, that's great because that means I went in two directions, flat and up or flat and down, depending on if I'm playing puts or calls. All right, so where did we say that my expected price target was? So let's just say that we break below this 20 daily SMA and my price target is gonna be 1184. Okay. So let's just pick 11.5 if there is one, if there is none. Oh, I guess 11 is okay too. Which would be, 11 would be closer to where we stepped down here previously. Okay. So this is a little bit more risky, I would say. But it's still good. So 11 is reasonable price target. And in order to make this a butterfly, it would have to be $3 wide, right? So we get eight. So you can see that it's not nearly as good as the calls version. I think this is partially because of the strikes I picked, but you can see there's a 1.5 ratio. What do I do with this? Yeah, this looks so much better than this. And yeah, if you, you know, I would honestly just do a regular butterfly on this. I don't feel a need to protect one side. And that's because I feel like even if cloth drops, I don't think the mean runs are really done. Like it might drop down here temporarily or consolidation or something like that, but I think it's gonna pick back up again. So that's just my bias, right? If you have a different bias, you can adjust as you see fit, right? If you need to protect more downside, then you make a broken wing debit or yeah, broken wing debit spread and then you can protect your downside. And now you guarantee that you will make no loss in $54 if it goes down below 12.54. So that is what I would do for cloth. I am leaning more bullish than bearish. So I would personally like this over the put version that I showed you guys. But I mean, if we do break down this 20 daily SNA, maybe it's worth considering a weekly, a weekly put down to like here, 11, 20 or something. So to show that if we break down on Monday, right? Then maybe I'll play something like 13, 11, 9 or something like that. Yeah, not the best because the range is so small on this right now. It's really, really narrow butterfly. If you wanna widen it, you can widen it too, right? This increases your probability but also increases how much you have to pay for it to play. Pay for it to play. Okay, all right, I am done with cloth. And I think I am done with this seminar. Thanks so much guys for staying all the way for those of you still here. Thanks, young bull for helping out. MA bros, you're welcome. And I am good. We are going to close the seminar here. Other announcements to make. We have a Academy session with Big T on Monday at 4 p.m. PST, I believe. It is posted up in the announcements, also in education posts, but he will be going over chart reversal patterns. So like candle reversal patterns, like double tops, head and shoulders, things like that. But he will be going over that on Monday, 4 p.m. and that will be hosted on the Discord and I think somebody is going to rebroadcast that over Twitch and our other platforms. So if you guys want to check that out, then hop on. And also Monday to Friday, every single day, 007 of Wall Street is here with us to go over ERs and charts and things like that. So if you guys want more chart requests throughout the week and need help managing their plays, things like that, come and check us out Monday through Friday on this Twitch stream after hours and as always, immediately after hours. So that's 1 p.m. PST or 4 p.m. EST and you can do them out for any other zones. But yeah, thanks again guys for listening to this seminar on butterfly spreads. If you guys got any other questions, just DM me or pop into options swings and grab some messages there. We've got a lot of people who are knowledgeable about butterfly swings now. Sorry, not butterfly swings, butterfly spreads. But yeah, we're really excited to see some account growth from the rest of you all. Hope you guys found this helpful and make some money out of this. And until...