Short Verticals | Ken Rose MBA, CMT | 11-18-20 | Trading Resort Stocks on thinkorswim
Hello everyone and welcome to our session here today on short verticals, my name is ken rose and it's always great to be here to discuss. Investing, in the stock market particularly, with regards to this strategy, which tends to be a high probability, strategy in other words, you from a statistical, standpoint, your probabilities, are more likely to have successful, trades rather than losing rather than losing trades. Uh market's been kind of interesting the last couple days here looks like we are fading a little bit here today, we'll take a look at the markets, and see how that reflects with regards to our strategies. And we'll take it from there so let's go ahead and get. Underway. So again, welcome buddy here just a reminder you can follow me on twitter my twitter handle is at, krosc. Underscore, tda. And i post things on twitter related to this area as well as other areas of investing i also want to thank michael fairborne. For being over there in the chat window he's very knowledgeable, in this area as well as many other areas of investing i'd encourage you to follow, michael on twitter as well i'm sure he'd be more than happy, to send over his twitter handle which is m fairborn, underscore, tda, and wave disclosure's, here today. Just a reminder that in order to demonstrate, the functionality, of the platform, we need to use actual symbols, however td ameritrade does not make recommendations, or determine the suitability of any security or strategy for individual traders. Any investment decision you make in your self-directed, account is solely responsibility. We also use a paper money application, here this is for educational, purposes, only, any level of success that we may have in our paper trading account, isn't necessarily, indicative, of the success you have in your actual live trading account, as market conditions, do change continuously. Here's a picture of myself been here since 2004.. I specialize, in blending both fundamental, analysis, with technical, analysis. I love to learn this stuff i love to learn the new technologies, that are available in applying this stuff, love to trade it and i love to teach it as well, i'm a contributor on the td ameritrade network i'm a charter market technician, i work with things scripting, building indicators, triggers and strategies, in the light. So with regards to our agenda here today, we'll do an overview of the market, this will give us an idea of whether or not we want to trade bullish, or bury short, verticals. We'll also. Review, our existing, positions, along with past positions, to see how those are doing, then we'll look for possibly, adding, additional. Positions, to our paper trading account. So with that in mind let's bring up the, thinkorswim, platform, here just kind of see what's going on with regards to the overall market. And here we have a chart, of the s p 500. Right here in our view, and usually because, because the nature of our trading is short term. We usually start by looking at a three-month, chart to kind of see where things are currently going and we can see that. The the market has been primarily, bullish of late we had a nice strong run here, a little bit of a pullback, here than a nice bounce, now we're getting another pullback, here, and we're testing this old area of resistance, right here, to see if it holds up as a level support. So with regards to potential, trades here today we may be looking at, possibly, falling, knives. Or possibly, breakouts, because we did have this breakout here just a couple of days ago. And possibly, both flags but with this pullback here we may, we may see a few more falling knives in some of the other situations.
Now, Some of you may be scratching, your heads you know what's a falling knife what's a breakout what's a bull flag. Well. In here we use we we primarily, use three different types of setups. And, one of those setups, is a is a flag setup and when you're in a bullish. Type of a market like we're in now would be looking for both flags. And that is for you the market is moving up something like this. And as it's moving up. Each one of the peaks that it creates. Become higher. And each one of the troughs that it creates becomes, higher, so so another way to say this is we're making higher highs we're making higher lows. And then one on each each one of these moves to the upside this move right here. That's going to be a pull. This move right here. That's going to be a pull. This move right here. That's going to be a pull. Then when we're pulling back right here. That pull back to the to the downside. Those are. Flags. And. Right here is our. Final flag in the installment. Now, as, as the stock is pulling down like this at this point what we what we have going on right now is actually a falling knife why is it a falling knife, because we're currently. Moving to the downside, if you look at this. If you look at this move right here we're moving to the downside in other words we haven't had a bounce. Like here's a bounce right here and here's a bounce right here so this this is a falling knife type of a setup right here. Why would we enter a trade when the stock is moving to the downside, if it's a bullish trade, well if the stock is moving the downside, but it's approaching. A potential, support, level. And keep in mind that old resistance, levels like right here see this resistance level right here, that old resistance, level becomes a new support level, so if we're moving down and we're approaching that support level, we can choose to enter a trade in there in, at that particular, as as that is occurring. One of the justifications. For this is as a stock is moving down like this. Implied, volatility. Is moving up. And when implied volatility, is moving up the higher the levels of implied volatility. Are, there tends to be. A greater, potential, with regards to return, on risk and related, probabilities. Because as implied volatility, ramps up what that means is there's a greater demand for the underlying, options and as a result of that greater demand, the price of the underlying, options tends to move to the upside. Since a big part of this strategy, is selling options. The more that we can sell those options for that tends to favor us with regards to, our return. On risk in these trades.
Also. Not only capitalizing, on the increase of implied volatility. If by the way if we wait for the bounce we bounce and start to move up like this as the price moves up implied volatility. Typically will then start to move down again, and we'll lose out on some of the some of the positives, with regards to that downward movement. Also in with regards to moving to the downside here when we set up our short vertical. The strike price that we sell. If we're still moving down we're just let's just say if we kind of want to look at this um. Theoretically. If we're if we're and since, if we're entering the trade as we're moving down, perhaps this right here would be our short would be our short strike price this guy right here. Okay. So we're coming that far down below the support level, if we wait till we get the bounce. We're typically going to have to move our short strike price up so we're closer. To that theoretical, support level or actually when it's bounced, actually, it's, now a proven support level. So these are some of the reasons, for for doing the falling knife type of the thing, however, one of the problems with the falling knife is, you don't know, if that previous. If that previous, resistance, level, or that theoretical, support level is going to hold up it could continue, to go down and break into your trade and cause all kinds of problems. That's why they're called a falling knife because when you think about, if you're trying to catch a falling knife it's awfully, easy to get cut. Okay. So that's, the falling knife, the bull flag is just waiting for the confirmation. Wait for the bounce to actually occur then look to enter the trade. The breakout, trade is a situation, where. If you have a stock that's kind of been going like this. It's having some trouble breaking a key resistance, level and it breaks out, at that key resistance, level, then we're looking at possibly, taking, a, breakout trade, look at what's going on here. Probably we're probably going to see some of all these okay. But we're. I think we're kind of being i think we'll probably see a fair number of breakouts. That haven't that, that have come back down and are testing support those would be some possibilities. We also may see some falling knives. So, with that in mind that's that that'll be that'll be sort of the type of thing that we'll be looking at here for today, before we get into that though let's do a little review. Of our previous, trades. And to do that we'll bring up our spreadsheet, here, now we started keeping track of our trades here back, on. July 8th. Early july. Okay. Each one of these lines, represents, a short vertical, you can see the majority of them have been short put verticals, the market's primarily been in an uptrend.
Sometimes We'll have a short call and a short put vertical this is usually related to an earnings announcement. And you can see on these earnings announcements, we're in the trade a relatively, short period of time this is the, this is the number of days in the trading see what looks like we traded quite a few. Trades here based on based on earnings over this uh 722. 723. Time period right here. And right here as you right here you you have your percentage, gain, and our percentage, gain has roughly i would say a percentage, gain is roughly average somewhere in the neighborhood of about 26, to 28 percent. You know if we're going to be, if we're going to be sort of on the conservative, standpoint. If some up here a little bit higher at 42. 31, some down here a little bit lower at 23, but i'd say in that area of, 27, to 28 is probably about the average return. So if you look at our average return, of about, 27, 28 percent our average time in the trade if you add all these up i'm thinking it's roughly i'm just doing this visually by the way i'd say i'd say it's roughly about 17 days in the trade. It's averaging about 27, 28 percent, for being in trades on average about about 17, of the time, what's our success, ratio. Well. We start at three here and, to this point in time, we put on, we put on let's see take 34. Minus three, we put on 31, trades. Two of those trades are still out there. Lily right here in roku, those two trades are still out there they haven't been completed, when we put this information, or they've been completed. Okay. So it looks like we've got, 27, total trades out of the 27, total trades. We've incurred some break even ones. Here's breakeven, here's breakeven, here's break even, these are trades where the trades got into trouble. And by making an adjustment. We were fortunate enough to break even that doesn't always occur, sometimes you make those adjustments, and you can incur a loss that's greater. Than your initial, maximum, loss. We did have one losing trade up here this is on vlo. We're losing trade and we are the loss we incurred was was a little bit under five percent of what the max loss could have been, again we made an adjustment, on that as well. So if you. If you take into consideration. Everything we got here looks to me like we've been, successful. Okay. What do we got here we've got, 34. From 34, i'm going to subtract. 2 because we started at 3. That takes us to 32. Then we'll we'll go ahead and subtract, these ones that we were neutral, on. Which is three more so that takes us down to what that takes us down to 28, right i'm thinking that's 28, right right in that area, and we've. Been successful, on about 27, out of those 28, and if i'm off by one or two here well i think we're still fairly close, that gives us a success ratio of about. 96, percent. Which is actually pretty good. Uh given the fact that when we enter these trades. We enter them in with the probability of success somewhere in the neighborhood of about 70 to 75. So we're outperforming. The theoretical, probabilities, of success. That could be related to our to the process, that we've engaged in here it could be related, to, to using technical, analysis. With regards to the probabilities, that are on the thinkorswim, platform. Also something to keep in mind we could have a reversion, to the main, where currently we have this success ratio, but wouldn't be too surprised if we had a, perhaps a, little bit of a string of losing trades. So we reverted, a little bit more to the main down here, of what our expectations. Would be which is be around a 73, percent. Success ratio we'll see what happens going forward though that's just. An overview. Of how we've been doing up to this point. So with that then we do have our two trades right here let's take a look at lily and roku. To see how they're currently doing. And to do that we'll come up here to the monitor, page.
And Here's lily it looks like lily's, in a little bit of you know i was looking at it earlier today it wasn't look it wasn't looking like it was doing awfully well. It looks like right now soon a little bit better. We do have profitability. Here, on, lly. Looks like a nice day, here. Looks like it's taking a little bit of run but still we're awfully, close here's our short strike price right here at 141.. That's our short strike price we're sitting here at 140. 180.. We only have nine days left in the trade but this is a little bit of a tricky one. You know that i i kind of liken this to to sort of like walking a tightrope. If we're this close to our short strike price and obviously, something, something has broken down on this trade. So we may opt to possibly, get out a break-even, point or possibly capture a little bit of a profitability. Here, rather than risk. Having this stock deteriorate. Quickly and end up with a max loss that's all that's always something that we could consider. If we come over here and we look at roku. It looks like roku, right here, we have some profitability, like roku took a little bit of a hit here today. Still we have profitability. We have 16, days, remaining, on a roku, trade, on roku we're currently sitting at 234.90. And our short strike, price is, all the way down here at 215.. So we're actually we're actually sitting at a, if you look at this from a percentage, standpoint, as far as how far away we are from our short strike price this actually looks. Looks to be okay at this point there's still a fair amount of risk going forward here. Let's take a quick look at the chart though, here for lilly. Let me come over here, and, let's, more info on lily. Yeah let's bolt the chart see what we got going on here i'm just going to. Maximize. Our chart here see so yeah we can see here that. It looks like we entered the trade with this is our theoretical, support level. And that level, is at 140, 284. That makes sense because our short strike price was 141.
And We usually look, to set up our short strike prices somewhere, below. These theoretical, support levels it looks like we held up we held up we held up, then we broke through here. Okay. Now remember, remember in technical analysis. Old support, becomes new resistance. So if i take this, and. Let's see if i can activate, it. Sometimes in our little environment, here becomes a little bit difficult. Let's just extend that to the right okay. So now notice that this whole support is acting as a resistance, level. It would feel a whole lot better about this trade if we're able to break above resistance. We've got nine days left in the trade. Um. So again we're, very little time in the trade we're sitting very close to our short strike price. Kind of walking a tie rope here you know the the object of this type of a strategy, isn't isn't to walk a tightrope, you know you'd like to be in a safe area. Where support levels held up or bouncing and moving to the upside. So with that in mind, we've got a couple of choices, here. We could go ahead. And, see about getting out of the trade. And avoiding the time avoiding the avoiding the avoiding the tightrope. So to speak. And maybe capturing, a little bit of a gain here looks like we got a little pop here. Or. Or let the probabilities. Play out you know we let the probabilities, play out and see if we're able to break above that resistance, level. We may come back and revisit, this at the end of our session here today otherwise, i may i may i may kind of nurse it as we're going forward, possibly look at it tomorrow. Maybe maybe. Maybe. But but look to get out possibly, earlier rather than later because it looks okay, at this point, looking at the numbers you look at the direction but still, that resistance, level right there. It's having a hard time breaking above that we may want to take this opportunity. To capture, some gains here and look to move on something else look at that. I came from one screen or the other now we're down here to 150. Loss. See how fickle that was. You know maybe it maybe it would have been nice to go in there and possibly, capture that gain as we had it right. Okay. We'll go ahead and let it, let it continue to play out here today and, and, and, and, maybe we'll take a look at the end of our session. You have an opportunity to get out a little bit of a profit then perhaps we'll make an adjustment, well now we're no now we're currently profitable, again. Right there. Um. Let's, we'll we'll come back here a lot of volatility, going on with that but let's find another trade. To look at here for today so this is our watch list and for those of you that are new here i want to welcome you thanks for joining us here today. The watch list that we have here. Just in quick review, we basically, ran a scan. Up here. Under the scan tab, we came over here to stock hacker. And. The. Let's remove some of this stuff. So that we're not encumbered, with it. We'll collapse, this. Right here. And let's collapse this, by the way, there are some, i'm, not actually able to send it send you out the um.
The Watch list here i'm not not not able to do that there there's a legal reason i i i'm, not a lawyer i don't. Send out this understand, which is why, i want to show you how we put it together. But basically and it's not overly complicated. We came up here to the scan tab we came in here to stock hacker where it says scan in all stocks. We came over here where, rather than scanning all stocks we came over here and we said, let's go to the public watch list, and let's scan in stocks that have weekly options available. Then we want to intersect, that, with the public watch list, for stocks that. That have come in penny increments. Right here. So we're doing this we're just looking for stocks have weekly options available and have penny increment, and have penny increment. The option, prices. Are quoted in penny increments rather than a nickel increment. And then we added a few other filters, here. In relationship. To the price to stock we wanted the price of stock to be at a certain level. With regards to options trading let's just say we wanted to go with a minimum here. Uh. For if we're talking about options trading i'd say probably, you know we'll play part of the investment want a minimum price. Of say of say 20 bucks. And we can add another, filter here we'll add a study filter right here, and we'll make this one related to volume. We'll come in here and choose average volume. We'll just leave average volume at a million. And then you could and then and then what you want to do is is add additional, filters here that would match up with your own trading style. Then you come in here and run the scan and we've got 50 out of 194. So we may want to increase the price we may want to increase volume there's a lot of different things we can do. If you want to get the entire list. We come over here and change this to 200. Run the scan again and we should get all 194.. After you have your parameters, you know the the key parameters, here again. Is the starting point right here where you scan in weeklies. And intersect, with penny increments, that's sort of the key starting point. Then, it's a good idea to set up set an ask price right here so the so the price of the stock. From an option traders perspective, the price gets much below 20, it just usually doesn't make a whole lot of sense, and then we have our average volume right here, now some of you may be saying why don't we just use a stock hacker.
Why Don't we come up here and come in here and use this option hacker. To identify, potential, spreads. Well the challenge, i've had with this, is the results that come through there. They are skewed as a result of earnings. They are skewed, as a result, of. Of, um, of of. Of ill liquid. Things you know you'll. Just just to lack liquidity, with regards to the underlying, positions, that come through. It's just it's just been, somewhat of a challenge here if. As, as the thinkorswim, platform, continues, to move forward and they're always making updates. If they give you a few more capabilities, here on the option hacker i may move to the option hacker. But for right now we're playing a part of the investor that wants to get a good watch list, of liquid stocks, here, and then once they have that watch list. Use use custom columns to identify, some potential, candidates. Okay. And by the way you can go ahead and save this as a watch list after you save it wherever you have it just let me give you one other heads up, just come to the bottom of your watch list pull up a trade tab. And open up an option chain. Maybe go out about mid period like this. And, i decrease, the number of. Of, strike prices you're looking at maybe four to eight just look at the at the monies. Pull the first stock. And just just check the slippage, between the bid and the ask price. If you're comfortable with it in related to the current trading price like the slippage right here is looks like it's it's a looks like it's about a nickel on one side about, eight or nine cents on the other. If you're comfortable with the slippage, fine just hit your up arrow key if you're not comfortable with it hit your delete, key, it'll automatically delete it then hit your up arrow key and you can go through these relatively, quickly. On our columns here what are the columns we have here, we have implied volatility. As i mentioned before implied volatility, the higher the levels of implied volatility. Tends to present, opportunities, that give you higher opportunities, with regards to return on risk. We have a falling knives column right here. This just how this is meant to help you identify, stocks that have falling knives going on. We have a flag, column right here. This is meant to help you identify. Stocks, stocks that currently have, have bull flags or bear flags going on, then we have a breakout, column here. These three right here. Are custom. Columns. And many of you guys see a lot of folks over there in the chat window, so many of you have these which is great, if you don't have them and you'd like to use them you don't need to use them you can just pull the charts and look at them as well that's no problem at all i like to have these custom columns. Just you can cut you can contact, me over there on twitter and i can send those out to you along with a, link to a youtube video that will show you how. To load those up and how to use those, okay. All right well i've sorted by implied volatility. Right here. So i've got some falling knives here we want to be sensitive, here because. This i i use this same list here i i call this, the name i give it is is is, is one dollar wide liquid, notice i do have stocks in here that are less than five or ten bucks, that's because i use this list not only for short verticals, but also possibly, for long options. And so i'm okay, i'm okay having some of these in here but if we're looking for short verticals. We're gonna want the price probably to be at twenty dollars or higher. We've also, made it a practice in our sessions, to avoid. Actually to avoid the highest, levels of implied volatility, you know rather than come up here with like the top 10, we want to come down here where implied volatility, has calmed down a little bit. Because what we found there's a reason these implied volatilities, have high levels that's because the stock tends to be quite volatile. And we're okay with some volatility, but we you know we. We don't want to be like greedy and go with the highest levels. Because, because of the volatility, related i would like to maybe have a little bit of a lower return, but. Perhaps a little bit of a calmer, stock. Okay. So with that in mind then we can you just we could just come down here and look at some of these how are we doing on time looks like we're getting kind of tight on time folks so. Let's see what we can find here. I'm just going to come down here a little bit. I was actually looking at this one a little bit earlier today now you have a lot of choices, here when is a possibility. You can see winds pulled down and it's bouncing, up. And that's got a bull flag right here, united, airlines.
Possibility, Look how that's coming off that support level right there. Okay. Looks like we have a breakout, here on hess, looks like we broke out there we're coming back down towards that and testing a little bit here's a bull flag on delta air lysos we came up here we pulled back here and we bounced so all, these would be, all these would represent some potential possibilities. Over here on marvel let's look at this a little bit earlier today this is a little bit different, you can see the marvel's, come up here is pulled back and it's bouncing, today. But we also have an earnings announcement coming up here. Sometimes i refer to this as, as a as a earnings. Freeze, strategy. I say earnings freeze because, there's a tendency, it doesn't always occur but there's a tendency, for stocks, to start to trade in somewhat of a narrow range, as earnings come up, they don't necessarily, go big to the upside they don't necessarily go big to the downside, as earnings are approaching. So if we can do an option trade as earnings are approaching, but have the expiration, occur before the earnings. And still get a reasonable, return. Then we could go ahead. And. And and do that type of a trade, the thing that's the thing that's a little bit dangerous about that, is sometimes a company will come out with like a pre-earnings. Announcement. Like just like just out of the blue, hey our earnings is coming up in three days from now by just just a little bit of a heads up, you know our, our expectations. Aren't aren't looking so good with regards to the next quarter you know they'll come up with something like that and that can cause a lot of a lot of volatility, so so that that would be one of the challenges. But if we're looking at it right here let's look at the bull flag part of it notice we have a lot of volatility. Going on right here. A big. Big move here to the downside and calming down then we have this move up here. This move down here and we're bouncing, right here. So we can identify, support. Right here. That's our support we came up or bouncing along so we're coming off that support level, it'd be nice if we had a stronger, bounce but, mike i guess the question would be. Also note notice with all this volatility, how the implied volatility, got pushed way up here. Okay, it got pushed high, it is pulling back here a little bit, as we started to move sideways but we're still at a relatively, high level here, in relationship, to some of these lower levels. So with that said what kind of return can we get how far below the support level can we get. And let's just show our price over there on the left how far below that support level can we get, and still have a decent return within the earnings announcement, here, well the earnings announcement, looks to be on. It looks like it's 11 18 it could be before the market or after the market we want to avoid 11 18. so we want something that expires, before 11 18..
So Come up here to the trade page. And we can see here. This um, this this is what we got here we've got. 11, 27. Let's take a look at that chart again, maybe this isn't going to work was that 11 18 or 12. Actually it's 12. 3. There's a little bit tight there we are, so it looks like the earnings announcement, is on 12 3 so we want something that expires, below, before, 12 3 because we don't want to be, in a short vertical, over an earnings announcement. So before, 12, 3 so we've got. Um. 12. 4 right here, you know it doesn't look like we're going to be able to fit anything in here because this is. This is 12, 4.. And, nine days isn't going to be enough we maybe we can possibly, fit something in here in 16, days. Um. But yeah it doesn't look like i wish i could get a let's come over here and get an absolute, date, here. If i click on this or this. Okay so earnings is going to be on 12-3. After the market. And. What was the expiration, on that this is just. 12-4. Yeah. It's going to be after the mark yeah we're just not able to feed we're not able to fit that one in. So let's look at one of these other ones then. That we were looking at a little bit earlier. We had wind. Where is when when. Was up here a little bit i believe. We had when we were looking at a, nice little here we're moving up here pull back on a bounce. We have a lot of energy, stocks i notice a lot of energy stocks are running and. Going well looks like right here on eog, we have a breakout. Looks like a breakout but we're coming down and, falling here today, so. Let's see we can work out here with regards to wind let's identify, our support levels our support level. If we go. We could go with the lowest low point right there i'm going to put it right there because it's kind of a resistance, level here held down the hills. Came down held support here so. Would like to. Let's take a look at our price over there on the left. So i'd like to be able to set up a short, put vertical, below. 92, dollars and five cents, with a probability.
That Is that is that is equal to or greater than 70 percent. So we'll come up here to the trade page we've been going out about 23, days that's been our average. Come in here remember that the delta is giving us the probability, that, the trade will run into problems. So we want a delta. That is going to be. Less than. Less than 30. Because if the delta, is 30 then the probability, of us having difficulty, is going to be. 70 percent. Well the probability of success on the trade is going to be 70 percent. Because if, if the delta for example the delta right here. Make sure we're in the right column the delta right here is at 30.. D here for delta. So that means the probability, that the 90 will be in the money on the expiration, date is 30, so there's a 30, probability, that the trade will get into trouble. We've elected to go with the probability. Of, 70. Or higher. Let's go a little bit higher. Let's go with a delt of 27.. This means the probability, of success on the trade is going to be 73. Percent rather than 70 percent. And we're at 89.. So we'll go with a dollar wide here we'll go with an 89.88. And let's see what kind of a, credit we can get for being in this trade for 23, days. And to do that i'm going to right click on the price here. And we'll go, sell, and i'm going to go deep and wide because we need to get to that dollar wide. I'm going to go one month two strike prices vertical. And there we are right there in our 89, and 88, and at 25, cent credit, if we can get filled at 25. Let's in the interest of time let's say we're okay. If we can get field of possibly. Let's go ahead and try 25, here real quick i'm just a little we're running out of time here. Um. Let me pop it right there we'll try it 25, so how many of these contracts do we want to do, well, we'll play the part of the investor that's looking at it being okay risking say two thousand dollars. So your max, loss on a vertical. Is the distance, between the strike prices, minus the credit so that's going to be 75, dollars. So we'll divide our 2000. By 75. And that would mean we could do 26, of these. So. Let's collapse our side right here, and move this up to 26. 26. There's our 26.. And. Now we're at 29., well if we get, we'll we'll try at 29.. If we can get field grade if not we'll. Come back in here and make an adjustment, so we're actually filled because this is the paper trading account. Okay. So where are we sitting at here with regards to 89, where does that sit in relationship, to our support level. Come back over here so we're at 92. So i'm going to just draw another line right here. And our short strike price is at. 89, so we're below support, it's always a good idea to look at it visually. So we are. We are below our support level. On a test here we'll see if that support level holds up. On that. All right folks we're out of time i want to go back over and take a look at lly, but we're actually out of time here for today so. Let's go ahead and wrap things up here. So what did what do we talk about here today well, we did an overview of the s p 500, kind of see what was going on in the market. And looking at that we were looking at possibly, breakouts, possibly, both flags, were actually, looking at doing a paper trade on a bull flag. We reviewed our existing positions, kind of see how we're currently doing on existing positions, as well as past positions. We went ahead and we entered in a paper trade on when, and we'll follow up on when as time goes by to see how that turns out. I just a reminder again, you can follow me on twitter my twitter announced that kroc, underscore tda do feel free to, uh, to, shoot me questions over on twitter i tell him i'm not able to respond, to all the questions that come coming over there but i do try to respond to as many, as possible also thanks to mike fairborne, again, over there in the chat i haven't really had a chance to look in the chat with him but i'm looking over there now and i see a survey.
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