Weekly Income Alert – August 1, 2025

Alright. Welcome, everyone, to Weekly Income Alert live. I’m going to hold off on the pleasantries and the small talk. We’re going to get right to the trade because I am going to close out the August 1 trade.

It expires at the end of the day. The Russell has gone straight down. The whole market’s gone straight down since it opened. Could it bounce?

It’s certainly possible, but I don’t want to risk having the maximum loss. So I’m going to cut our losses short on this one. Unfortunately, it’ll be our first loss that we are experiencing in this service, but I want to get to it right away. So I’m going to share my screen and get the trade loaded.

And I’ll discuss the other trades afterwards and the new trade and everything. But first, I want to get this trade taken care of right away.

Okay, so if you go to your account, and again, this is in Schwab, if you go to your account and you’ll see the different positions that are in here, on Schwab at least, you go to the option. Now I’m gonna close it as one trade. You may have to do it as two trades depending on your broker. And if you do, just do it in between the bid and the ask on both.

But on Schwab and many others, you can do it as one trade if it was entered as one trade. So on Schwab, this little arrow right here, if you click on that, it says close positions. So we’re going to close position. Now it’s giving us choices, the August ones, the August eighth, etcetera.

We’re just closing the August one today.

So select those, both of them, the two thousand one hundred sixty and the two thousand one hundred seventy puts. We’re going to hit close selected.

And then it brings up the order form.

So we’re gonna and it populate everything automatically. So it knows what what trades it needs to do to close your position automatically.

So if you if it’s not doing that, then you have to sell to close the two thousand one hundred and sixty and buy to close the two thousand one hundred and seventy. Okay, now here it’s giving us a debit of seven dollars Remember, we sold it for two fifteen, so the loss at seven dollars will be at about four eighty five.

And this is money, remember, that’s coming out of your account. We received the two fifteen before. This money will come out of your account, but I want to make sure, and I guess the market just tanked because this just went close to the max. Wow.

That was just a real big move all of a sudden. That was not good. Okay, so anyway, we received the two fifteen, then the debit comes out of the account, the money comes out. And so it looks like it’s coming back in a little bit. I kind of want to just give it a second here to see if it comes in a little because at eight dollars that’s getting close to the max. So actually, let’s give it a second here, talk about what happened.

We saw, you know, the market sold off towards the end of the day yesterday. Today was the tariff day.

You know, whether it was kind of the made up numbers that the government is assigning to these tariffs and countries just out of nowhere had nothing to do with anything, whether it was the softer jobs number, whether it was just that the market was due for a sell off, what have you. All right, it came down a little bit. So the market’s gone a little bit crazy right now.

Yeah, looking at this debit number here, nine thirty five, eight sixty five, seven thirty five, this is nuts.

What I’m going to do, I’m going to put it in at seven fifteen as the limit. We’re going to place that order, see what happens. If we don’t get filled right away, we can go in and change it.

So we’ll put this order in now at seven fifteen.

As it stands right now, we won’t get filled right away, but the market might come to us in a little bit. So I’m putting it at seven fifteen and at seven fifteen, we would lose five hundred dollars if we get filled.

So we’ve got sell to close, buy to close, mid. All right, my estimated amount is seven fifteen. So I’m gonna put the alert out on the site. You can go ahead and place that order. And you can also let me know if you get filled.

I got put on the site. Let me just get that done.

Alright. I’ve sent out the trade.

So now I’m gonna place my order.

Alright.

See the order status.

It looks like that’s still open.

I’m gonna go back to see where the trade where it’s trading.

Yeah. That was that was really nuts where it just kinda went all over the place very, very quickly.

So I’m just going back to the trade just to see where it is trading at the moment. So eight ninety, yeah. So we might not get filled at the moment. That’s okay. Like I said, we’ll give it a little bit of time.

Markets, you know, typically don’t go straight down. There’s usually some kind of bounce at some time. And the fact that that debit got really, really wide very quickly, it went from high sixes, low sevens, so suddenly it spiked to eight and nine, even though the the Russell itself didn’t drop that hard at at that exact moment. Just the the spreads got very wide. So we’re gonna give it a little bit of time and see what happens.

So hopefully we get filled at seven fifteen, which would result in a five hundred dollars loss. So unfortunate, but the market sold off hard today, sold off yesterday. As far the August fifth I’m sorry. As far as the August eighth and August fifteen put spreads, we’re gonna give it some time. So those are are in the red right now as well, but we do have a week and we have two weeks left to go. The reason I closed this one out was because I wanted to with just a few hours left, I wanted to make sure we did not sustain the maximum loss. So now the debit has come down under seven, so I’m gonna assume that we have been filled.

Hopefully, you guys have gotten filled also. I’m seeing some of you came in saying filled at seven fifteen.

Sorry. So good news on that front, I guess as good as it can possibly be. Going back to yeah. So going back to the August eighth, August fifteen spreads, like I said, I wanna give it a little bit of time. Today, we just had a few hours left to go. Anything could have happened in the market, and I wanted to avoid that maximum loss, which would have been, over it would have been close to eight hundred dollars So if if if the Russell finished anywhere at twenty one sixty or below today, we would have had the maximum loss, which would be a thousand dollars, minus the two hundred fifteen, so it would have been seven eighty five. So I wanted to at least salvage something out of that and and keep the loss a little bit smaller.

Going forward, we do have time. If if the markets continue to to head south or don’t reap or don’t rebound, yeah, we are going to be not in great shape with those other two trades. But again, we have plenty of time. We have a week. We have two weeks for these trades to work out, and and that’s a decent amount of time for this to bounce. You know, it’s not that far of a bounce that we need.

So, with that being said, let us now look at the next trade, which would be the August twenty second. So let me go back and place an order. All right. So now we’re going to the for the August twenty second trade and I am still doing a put spread.

Okay, I have, you know, one one down week. I mean, we’ve really had two down days. It’s been, you know, not not good days at all. Today’s a little rough, but it’s only been two down days.

That’s not a trend. When I see a trend, when I think a trend is developing, then then maybe we change our strategy. But right now, you know, the market is two days away from its all time highs. It’s still up and to the right.

We could argue, yes, August and September are often not great times to be in the market. Last year it was, though. Last year August was just fine. So I’m not trying to overreact.

I want to see what the market gives us, see what the market trend is, if that trend is changing. And there’s a lot of support below the market right now, not that far away. So I I expect that even if the next few days, even next week aren’t great, I do think that, that things have not turned. There’s no evidence that things have turned and we’re entering a correction phase or a bear market at this point.

So, we’re gonna do our regular put spread just like we always do. So it’s the dollar sign r u t.

And we are selecting vertical put.

And I just heard that I got filled. That was the little noise that I heard. So I must have gotten filled at seven fifteen or better.

Ron says Fidelity is very slow at filling.

So Moisher says, is this a credit or a debit? To close the trade, it’s a debit because it was a credit to open the trade. When we closed the trade, it’s a debit. That money’s coming out of your account.

The new trade that we’re doing is a credit. So we are selling to open and we have to select the RUTW or you might have to enter RUTW in order to get the August twenty second, the August twenty second, expiration date. And let me just check one thing real quick.

Just doing a quick calculation. All right.

So we are going to select, we’re going to sell the twenty eighties and buy the two thousand seventy.

And we’ve got a credit of two thirty five. It’s kind of hoping it would be a little bit higher with the increased volatility, but we’re not really seeing that, at least not yet. It’s not being reflected into that yet. So, we’ve got about two thirty. I’m gonna lower my limit to two twenty five just to try to make sure I get filled.

So I’m gonna review my order here.

Alright, so I’ve got selling to open the twenty eighty, August twenty second, buying to open the twenty seventy, August twenty second, two twenty five. So you can go ahead and place that order. I will send out the trade before I place my order.

So I’m just doing that now.

Let me know if you get looks like we’re getting filled at two thirty five, two thirty one.

Now I usually have these trades preloaded, but I had to have the first one, preloaded.

And also, the market was moving, so we didn’t know exactly where we would be where we’d be entering the new trade.

Alright. Sell to open August twenty twenty five, twenty eighty, buy to open twenty seventy. I’m gonna send that.

K. Now that has been sent to you guys. So now I’m gonna place my order.

All right, and we are good to go. So is those are our two trades for the day.

And, yeah, So we knew this was gonna happen at some point. The market, not cooperating. Looks like am I frozen on your screen?

Let’s see. Can you guys, can you guys hear me? Can you see me?

So I’m frozen on mine.

Okay. It looks like I’m alright.

Great. Okay. Just my my own computer then. Anyway, so we knew this was gonna happen at some point.

You know, the the backtest had an eighty six percent win rate, not a hundred percent. We had a we had a great run, eight for eight. Now we’re eight for nine. And, hopefully, we market bounces and we come back from that.

And the August eighth, August fifteenth, and August twenty second will will work out just fine. Like I said, it it doesn’t have to bounce that much for these trades to work out, and we will be monitoring them. You know, if I if I think we need to get out early, then we certainly will.

So, today was a good example of, of getting out of a trade early.

The market’s really, you know, kind of cascaded down, unfortunately, in that first half hour of trading.

If I see something like that happening in the future, I may send out the alert even before, you know, we go live on the broadcast if it’s on a Friday, now that you guys know how to get out of the trade. And then if you’re if you are not clear, you know, you can ask the questions here. You can send me an email, but also talk to your broker if it’s not clear how to get out of the trade, because it’s something you should know. Because there will be times, probably most of the time, in fact, when we’re getting out of a trade, it won’t be live, you know, on weekly income alert live.

It’ll be me sending an alert where I’m saying sell to close, buy to close, etcetera. So you should know how to do that. It just so happened that today was expiration and we needed to get out a little bit quicker. So normally, it’s not gonna be during a live broadcast.

So make sure you’re comfortable with that process to get out. Because as we saw today, when markets start sliding, they can slide fast. There’s an expression in the market. The market takes the stairs higher and the elevator lower.

And that’s very true. It kind of gradually goes higher. And then when it falls, it can fall very hard. So when we want to get out of a position, we often want to get out quickly.

So make sure you know how to do that.

So may just ask if I could show how to close a position again? Sure. So let me go back and do that.

Let me just get this set up for a shared again.

Okay, so I’m going to share my screen again to show you how. And this, I’m going to have to show you on one of the other positions. So we’re not executing this. This is just an example. Okay, I want to be very, very clear about it’s just an example.

All right. So, so again, this is on Schwab. Every broker can be a little bit different, but on Schwab, you can see these are the two positions that are currently in the portfolio.

And I guess I haven’t gotten filled yet on the new position I added.

So I’m going to click on this little arrow here, close positions. And when I do that, it’s going to give me the option of which positions I’m closing. So you’d want to close both of them. Again, this is just an example. We’re not actually closing the August fifteenth.

And so when it shows you, it will automatically populate because you you open the position as a spread, so it’s gonna automatically populate that it’s selling to close the put that you bought and it’s buying to close the put that you sell. There’ll be a debit here because any time you’re closing a credit spread, in order to close it, you have to essentially buy it because we sold the spread. We got money in the first time. This time money would be coming out.

So this is the midpoint of the spread. We can put in the limit price here and then we would review order. And it would say net debit here. If if you change it to net credit, that’s not going to make sense because you’re you’re selling the lower price and buying the higher price.

The math doesn’t work.

If for some reason your brokerage software is not showing you how to do it, it’s not automatically populating that spread to make it one trade, then you’ll have to do it in two separate trades where you’re selling to close the lower put, the lower strike, because that’s the one you bought originally. So you’d be selling it to get out of it and you would do it somewhere in the midpoint here. So I always recommend selling and buying between the bid and the ask, especially with options where it’s kind of wide. So you would choose somewhere in between here.

Then you would buy to close the higher strike price because you originally sold it again somewhere in that middle range. And you’ll want to do it fairly quickly on top of each other. You don’t want to have that open position, you know, one side open for long at all because anything can happen in the market and that increases your risk. So hopefully you’re you’re if you open the position as a spread, then you should be able to close it as a spread too. And again, talk to your broker if you’re not clear on how to do that because opening the position as a spread also reduces the risk that you don’t have one side filled and the other is not, And then the market somehow runs away from you and you’re in not a great position. So definitely talk to your broker. The software is not making sense to you, what I’m showing you is not making sense, talk to your broker about how do you place these trades so that it’s one trade as a spread, both getting in and getting out.

All right.

I’ll stop sharing my screen now.

So let’s get to questions.

So Edison asked, why not wait until later in the day to close the position and see if the market rebounds? You certainly could.

I just want to avoid the possibility that we suffer the maximum loss. So this was how I’m managing the position. If you’re willing to accept that risk, then that’s up to you.

Potential benefit is that the loss ends up smaller or maybe the market even rebounds enough that you don’t have to take a loss. Who knows? We don’t know what’s going to happen in the next few hours. If this was Monday, yeah, I’d probably give it a little bit of time and see what happens.

But because we have so little time before we’re in danger of suffering the maximum loss, because if the market closed where it is, right, you know, in the twenty one, 40s, we suffer the maximum loss. And so I’m trying to avoid that. These options are gonna decay fairly quickly. And if the market bounces, so that’ll be a positive.

But if not, it’s just stuck in that maximum loss territory. So while there’s still a little bit of premium left, we want to get out and make sure that we’re not getting the maximum loss. But if you feel comfortable with taking that risk, you know, that’s totally up to you how you want to manage your own trade. But for me, I wanted to avoid that maximum risk at that point.

If we were trading at like twenty one point seven zero, twenty one point eight zero on the Russell, we were actually maybe a little bit higher, if we were at two thousand two hundred, maybe I would have taken a little bit more of a wait and see attitude. Although, I don’t know, it really would have depended on the market action. If we were falling to two thousand two hundred, I think I probably would have gotten out today. If we were lower yesterday and bouncing to two thousand two hundred, that’s a different story.

But, you know, the market was pretty ugly first thing in the morning and I want to avoid the maximum loss today. There will be times where we may take the maximum loss. Like I said, we’re holding the August fifteenth, the August eighth spreads. And, you know, as of right now, they would be at a maximum loss as well.

But meaning that if they closed at that point where we are today, it would be a maximum loss. But I’m willing to give this a little bit of time to see if we get some kind of a bounce. But with so little time today, we had the opportunity to avoid that maximum loss and I thought it was prudent to take it. Maybe we get a bounce.

I certainly hope so, but I did not want to risk that. As you guys know, and I talk about this a lot here and in a lot of different places, losses are an inevitable part of trading. But I want to try to avoid losses and keep the losses as small as possible because that’s basically the way you make money trading. You’re always going have winners.

You’re always going to have some losers. But if you can manage those winners to have them be as large as possible and have your losers be as small as possible, that’s where you make money. It’s not just picking the right stocks. We’re we’re always gonna have some winners, and we’re always gonna have some losers.

So it’s it’s really that money management aspect. So, that’s, you know, a big reason why today I wanted to to make that loss small as we possibly can.

Can you show the math for the loss we took today? Sure. So when a when a spread is ten points wide on an index, that represents one thousand dollars And so if we did nothing today and the Russell closed below twenty one point seven zero or at twenty one point seven zero or below, which is the bottom of our spread, that’s, you know, that’s where he bought the put, We would have a thousand dollar assignment essentially because index options are a cash assignment. You don’t get assigned the index like you would a stock.

So it would cost us one thousand dollars but we already took in two point one five dollars when we sold the spread. So our maximum loss would have been seven hundred eighty five dollars. That’s the maximum we could have lost in that position. And we knew that the minute our trade was filled at two dollars and fifteen cents. The maximum we can lose is seven hundred eighty five dollars per contract. You know, if you’re doing two contracts, then that’s going to be double that amount.

But so today, if you got filled at seven point one five dollars then we took a five hundred dollars loss because seven fifteen dollars went out of our account today because we we closed this for a debit, a seven point one five dollars debit or seven fifteen dollars per contract. But we already took in two fifteen dollars So seven fifteen minuteus two fifteen is five hundred. So that’s, that’s what the loss would be today. So remember, the maximum loss is always gonna be a thousand minus whatever the credit was, and that’s assuming that we’re doing a ten point spread. If it’s a fifteen point spread, then it’s fifteen hundred dollars minus your credit. If it’s a five point spread, it’s five hundred dollars minus your credit.

So the maximum loss is going to be one thousand dollars minus the credit.

And if we do take a loss where we’ve traded out of it, then it’s going to be the debit minus the credit.

And there might be times also where we trade out of a position for a profit, in which case would be the credit minus the debit. So let’s say we were able to get out with, you know, for one hundred dollars where the debit was one hundred dollars today or, you know, one point, then it would have been one hundred and fifteen dollars profit because it would have been two fifteen minuteus the debit, which would have been one if that was the case. So that’s the math. So it’s fairly simple. The nice thing that you know is soon as you enter the trade or even before you enter the trade, you know what your maximum loss is going to be or the potential maximum loss can be.

The market could go to zero and that maximum loss can’t get any bigger as long as you have your spread intact. If you unwind one side of the spread, that’s a different story, which I never recommend doing. That, you know, that spread is there as insurance. Especially owning that put, that you bought at the lower strike, that’s your insurance policy to make sure your account doesn’t get blown up. So never unwind that put that you’re long on the bottom of the spread unless you’re unwinding the entire position. Really, really important.

Okay. SM Trader says the price did not hit our top strike until nine forty this morning. If we had closed before reaching that point, would we have kept our full premium?

No, because I was watching it closely. The options were still trading. The debit was still at a loss at that point.

As soon as the market opened, the debit was like in the threes and then it just quickly fell.

But yeah, you know, as long as those options are trading, the debit will be worth something or the spread will be worth something. You know, if the market had taken off and was up one hundred points, the debt, there would still be something, the debit, or I’m sorry, the spread still would be worth something. Maybe it would have been worth fifteen cents, who knows? But there still would have been something. So you would not, you don’t get to keep the full credit until the spread expires worthless.

So you can close out early for a profit. And I’ve had emails from people saying, hey, I, you know, on not this trade, but previous weeks, I closed out for zero one zero dollars I didn’t want to wait. So if they took in two point one five and then they bought it back for ten cents, you know, on the last day or the day before, then they got to keep, two zero five was their, you know, their their net profit or their their total return on that position. But yeah, you won’t keep the full credit until it expires worthless because that spread will always be worth something, even if it’s just pennies. It’s a really good question.

Roswell says Russell’s come way back up and I’m still waiting at two fifteen.

Yeah, just give it some time. I’m not sure what’s I don’t have the you know, I kind of can’t see exactly what’s happening, but give us some time. There are plenty of times where we get filled an hour, even a few hours later on our trade, so just hang tight. Kafka says, was today’s trade weekly or monthly? It’s the weeklies because it’s the August twenty second. So it’s the weekly options.

What happens if the Russell goes above twenty one point seven zero? It looks like it’s increased quite a bit now at twenty one point six five.

So if your position is still open, then that debit should get smaller.

And so if you unwind it, then you’ll have a smaller loss. If stays above twenty one seventy and expires, well, if it expires above twenty one eighty, then it expires worthless and you keep the full credit. If it expires between twenty one seventy and twenty one eighty, then wherever it is in between is the amount that you would get assigned. Because remember, you’re short the put at twenty one eighty.

So if it closes at twenty one seventy eight, that means the put that you’re short is two points in the money. So you would have an assignment, a cash assignment of two hundred dollars And so two hundred dollars would come out of your account, but you had, let’s say, gotten a credit of two fifteen, so you’d make a profit of two fifteen. If it’s at, twenty one seventy five, then that’s a five hundred dollars assignment. Again, that’s per spread. If you were trading ten contracts, would be five thousand dollars But if it was one contract at twenty one point seven five dollars so that’s five hundred dollars out of your account today at expiration, but you would have kept the two fifteen, so the loss would have been smaller.

So that’s how that works if it’s in between the spread.

Let’s see.

What other questions do we have?

So Tom says, I think it’s a little early in the day to close out. Yep, that’s certainly up to you.

Like I said, I did not want to run the risk of a maximum loss today if the markets stay weak. You know, we had that sell off at the end of the day ahead of all the tariff news.

I’m a little concerned that it’s kind of a risk off type of day before everyone heads to the beach for the weekend Rachel, our publisher was saying to me earlier, felt like the market was looking for a reason to sell off. I don’t disagree with that at all.

So I just wanted to make sure we did not have the maximum loss. But again, your money, you’re going to trade the way you feel comfortable with. If you want to take that shot at having it bounce, absolutely.

Let’s see.

Oh, so I guess I was saying two thousand one hundred and seventy and two thousand one hundred eighty. Was going to say it was two thousand one hundred seventy, two thousand one hundred sixty. Thank you for correction.

Was there a thought of closing the eight one spread yesterday afternoon when the market began to sell off?

Was there a thought? No. I wanted to see what was gonna happen today.

At that point, I think we closed it around twenty to eleven yesterday. So we still had some wiggle room. I mean, I knew that if the market sold off today, it was coming down probably to our level because that was not a lot of a buffer there. But, you know, we’re not market timers in that I certainly wasn’t sure that the market was coming down.

There are plenty of times where I have looked at the market and said, this doesn’t look good. And the market can do things that you don’t expect a lot of the time. So I was not ready to take that trade off just yet. I wanted to see if we would open lower, and we did, unfortunately.

But, yeah, as of yesterday, I wasn’t ready to take that trade off.

So Alejandro says the last four trading sessions have closed bearish. Why didn’t you consider trading today a bearish call credit spread? So as I mentioned earlier, the backtest has worked in bull bear markets. Certainly when markets coming down, this is not going to be and we’re in a bull spread.

The results are not gonna be great. But we did look at these results, you know, in the backtest during bear markets, during, you know, minor corrections, have you, and the overall results were excellent, eighty six percent win rate. So we wanna make sure that I am not sitting here going, well, I think the market’s going down next week, so now I’m getting bearish. And then this week, now I’m getting bullish. Now I’m gonna get bearish again for the next two weeks and now bullish.

That’s not the way this system works. We will make a shift when I have seen a real trend change where, you know, we’re in a downtrend or where where it’s it’s clear to me that something has shifted. I will make that change. But just because we’ve had a few bearish sessions doesn’t mean that I’m ready to pull the trigger and get bearish for the next several weeks.

I’m just not ready to do that. And and in this system, the way this system works, you know, we are sticking with the system. That’s one of the things I learned a long time ago when you develop and trade systems. If the system is a good system, stick with it.

Know, systems don’t all work forever, and so sometimes you have to make some tweaks for sure. But if a system works, stick with it, even during some of the rough patches, because like we said, you’re always going to have some losses in any system no matter how good it is. So we’re going to stick with it until I see something has changed, until I’m getting bearish intermediate term, not short term. I might think the market’s going down Monday, but and I don’t necessarily.

But if I did, I’m not ready to make that change. If I think the market is gonna be down a month from now, two months from now, and I’ve seen that we’re now we’ve rolled over, we’ve broken support, we’re in a downtrend, we’ve, you know, broken moving averages, what what have you, whatever, things that I’m looking at that have perhaps cemented the opinion that things have changed in the market, then then maybe we make a change and and have a bear spread. But remember, this system, we don’t need the market to go up. The market can trade flat and we’re just fine.

That works perfectly well, too. We just need it to not go down.

And so until I see that trend, we’re sticking with the system. So as many of you know who’ve been with me for a while, I am very, very disciplined when it comes to trading. It doesn’t mean that I don’t make a mistake from time to time, But I am very disciplined, sticking with my stops, sticking with the system. And I’m not going to deviate from that just because we’ve had a few bad days and we’re taking our first loss.

Mike Burns says, so we can’t take less than two point two five dollars to get filled. I mean, you can. I put in my limit price for two point two five dollars and I’m willing to hang on for a little while. Like I said, we had a trade up, might have been like the second week, second or third week where it was I think we didn’t get filled till one Eastern Time, or at least I didn’t in my account.

So, yeah, so I’m willing to hang and let the market come to me and get filled. Somebody, as Captain Rich has said, we lost a battle, but not the war. Absolutely. Yeah, we’ve had eight wins in a row.

There’s going to be losses. We’re we’re never gonna go a hundred percent. I wish we could. But if we could, that would be that would be too easy.

So, yeah, there’s gonna be some losses. And, again, one of the reasons that I wanted to cut the loss short or cut the loss, you know, make it smaller is so that when we do take a loss, it’s not eating up all of our wins and all of our hard work. So, that’s why I wanted to keep the loss on the smaller side and not risk that maximum loss.

Michael says, do they always expire at the end of the day or say, will Mondays expire at market open?

They expire at the end of the day. The one difference is the monthly options on indexes expire in the morning on Friday morning. So like the August fifteenth monthlies expire Friday morning. You can’t there are August fifteenth weeklies that will expire in the afternoon, but the August fifteenth monthlies expire Friday morning.

And so the last time to trade them is Thursday’s close. And but I, you know, I let you know when when that’s the the situation.

John says that’s how trading works and why you need to have a plan for your risk control. Amen.

It’s it’s all about risk control. Like I said, you’re gonna have winners, you’re gonna have losers. When you manage your risk properly, when you manage the trading properly, money management is where where you make the money.

J. J. P. Nell says, hope the Russell stays above twenty two hundred by next Friday, so do I.

Jackson got filled but had to settle for two ten. Okay. I’m I’m leaving mine open just so you guys know. I’m leaving mine open for a while. If that changes, if I’m still not filled, let’s say in a few hours, and I change the limit price, then I will send out an alert saying that, saying that, you know, I’m moving the limit down. But, right now, I’m leaving it at two twenty five because I’ve seen that sometimes it just takes a few hours if, depending on what’s happening in the market.

Let’s see. Let’s see what else.

Ken says, so will you have us close or roll our August fifteenth spreads on the fourteenth? It’ll depend on what’s happening in the market. So if we need to close, then I’ll certainly let you know. If going to expire worthless, then there’s nothing you need to do and we’ll just make the new trade on the fifteenth, two weeks from now.

All right, let’s see. Let’s get to one more.

Let’s see. Scrolling back up.

My option chain presentation starts at August twenty fifth. I cannot see August twenty second. How do I enable options before August twenty fifth on Thinkorswim desktop? So all questions with the brokers and how the software works, reach out to the broker. Know Thinkorswim has live support right there on the platform. So definitely, definitely contact them.

At which time of day are these options evaluated for assignment if kept open at the close? So, when the market closes, that’s, that’s when the the final price of the Russell, this afternoon will be, the price that is, the value for assignment.

Alright. So with that, looks like there’s no more questions. Hope you guys get filled at, two twenty five if you haven’t. And if, if it looks like we’re we’re not going to, I will send an alert with a change or saying to cancel it. What whatever the situation is, I will let you know if, if there is a change to that trade.

So, with that, I hope you guys have a great week, and, let’s get back at it. And, and hopefully next week, we get a little bit of a bounce, and we can close out a winner next week and make it nine for ten. That’s that’s the hope and the goal. So we’ll, we’ll hope for that for next week. So have a great weekend, everyone, and I will talk to you soon.