Comparing Buy Writes & Long Call Verticals | Trading a Smaller Account | 3-22-24

well hello everyone welcome to Friday welcome to trading a smaller account my name is Barbara Armstrong I'm a coach with Schwab delighted that so many of you have chosen to join me on this beautiful spring day so what are we going to talk about today and why are we even here well we're here in this trading a smaller account class because we'd like to make money right um right and and sometimes we're trying to grow our account because we're looking at a long-term perspective perhaps we're doing t

his because we want to generate an income with a portion of our portfolio so we're taking a chunk that we're going to trade more actively and and have that as a as a goal of generating an income that we can pull out on a monthly or a quarterly basis I me there there's lots of reasons that that we trade and so one of the things that we're going to talk about today is um a couple of different trading strategies and how you might use one trading strategy you know if your goal is say to generate ano

ther income an income and and another trading strategy if you're interested in looking at maybe a slightly longer term perspective we're going to talk about the differences in in risk and if this happens what happens to this kind of trade versus that kind of trade and so you may be saying like Okay what kind of Trades are we talking here well okay uh as spoiler alert I'm going to tell you we're going to talk today about byri covered calls and we're going to talk about um long call verticals and

we're going to compare and contrast them and have some you know conversation around you know what's the risk of One Versus the other the the capital requirements Etc and someone in one of the surveys or in a comment um had said like hey um you know I'd like to see an example of a byright covered call where we added a protective put and so we're going to do one of those today also so we have a jam-packed 45 minutes um it always goes way faster um than I wish it would I I hear that it's it's snowi

ng in Michigan we got just uh you know an inch in the mountains last night but apparently we have you know another motherload of the white stuff coming in over the weekend just I think in the mountains I doubt it will hit the valley but um for the skiers amongst us um that is a that is a happy day so if you have a snow day in Michigan I you know I'm glad that you have chosen to spend part of it here with us so and you know we just link arms together every Friday at this time every Monday at High

Noon Eastern and then on Wednesdays we treat the Wednesday class um often as a companion class that's trading breakouts and that's at 1:00 Eastern so you know if you really want to get in the groove with this you want to join us three times a week so you know Mondays Wednesdays for trading breakouts and then Fridays again for um trading a smaller account so um I always like to start by thanking those who have brought this class to Life by being so participatory in the CH for being here um so to

Chad and AP 514 and Eric and Jules and Kevin and um the rest of the gang thank you all for being here um it just warms my heart when I sign in and see that you guys have already had a robust conversation without me even being here um it it's kind of you know what I was hoping for when I started this class we've also got Kevin Horner with us in the chat and he's a friend a fellow coach um so this is where you know the um we have brought two companies together and kind of you know it it's the sum

is greater than the parts um and it's been a beautiful thing so um thanks to Kevin for being here and helping man the chat um and then I if you've got questions don't hesitate to ask Kevin is pretty familiar with these strategies also um if you're watching this in the archives as thousands of people do um just type your comment into the chat if you've got a question a suggestion for a future class or if you just enjoyed it um let me know I respond to those on a daily basis also you can communic

ate with Kevin and I in the land of X formerly known as Twitter Kevin Horner Cs and Barb Armstrong CS we're posting content that we hope you will find helpful and informative on a daily basis on that channel so um without further Ado let's get through our important information so that we can get out to the platform know that option carry a high level of risk and aren't suitable for all investors certain requirements have to be met to trade options through Schwab so if you are new to Schwab you y

ou got to apply for option trading Privileges and not all will qualify in your paper money account which is what we use here in this class The Thinker swim paper money uh platform um it's a great place to learn and you can trade whatever you want um and you don't have to apply for option trading privileges or the ability to trade Futures and paper money you can you know have at or but I'd hate for you to practice a strategy for months and then go to place your first live trade if you get to that

point and then not have it go in and wonder why so you have to apply so you may want to be proactive on that know that um you just the paper money looks like smells like feels like real money but it's not there are some nuances and differences the biggest one with the strategy we're looking looking at today is that short options will never be assigned early in paper money so we don't get to practice that in paper money it can happen in a live account and I've seen it happen in a live account um

so um we have to be prepared for that and not surprised by it if and when that does happen um and know that past performance doesn't guarantee future results or success we place a lot of example trades in this class and then we follow up on the trades that we place um and but just know these are example trades this isn't none of this is to be construed as a recommendation to trade any particular strategy in any particular way okay I'm just catching up with the chat here um and then let me come

back over here okay so what are we doing today we're going to start with a market overview and then we are going to place some new example trades on The Thinker swim paper money platform and then we're going to do a little bit of of trade management okay but our Focus today is going to be on this conversation about these two trading strategies and placing some example trades in that Arena so uh for those of you who follow the market on a daily basis let's go out to the platform okay I can figure

that out okay I was looking at Nike Nike came with earnings yesterday and obviously the market didn't respond well it's up a little bit from where it was but it's still down over 7% but the S&P 500 hit a new well I posted this on X at the end of the day so the NASDAQ the S&P and the Dow all closed at new all-time highs yesterday so is it a surprise to see us down just a hair and perhaps setting up a new uh you know bull flag pattern now we don't know what will happen but you know after you know

three four up days here to see us pulling back a smidge today you know not surprising you know the S&P up almost 10% year to date um how about the NASDAQ uh well kind of more of the same right um you know this index up over 40% in the last year up you know8 and a half% year to date hit a new all-time high yesterday closed at a new alltime high High and um you know just pulling back a little today now what's the difference with this candle it's outlined in red is that it opened lower but has bee

n rising and so who knows this you know it's it's certainly possible we're only down by 4/10 of 1% you know and this is a live candle so by the end of the day you know this could be a bullish candle anything is possible and when we look at the Dow I mean again again yesterday new High um you know this index up 5% and this is like we're only in March people we're not even at the end of the first quarter yet yeah so um and and today pulling back you know down about half of 1% how about the Russell

well our Russell you know in the last and I always kind of go back to the two-year chart on this because it was in this big fat range for the last two years and then it came you know this is whoops H okay uh you know it kept coming up and hitting you know between around the 2000 and the 2020 Mark and then it looked like we had a breakout which turned into a bit of a fake out and breakout fake out again and then this breakout kind of looks like it stuck um but today you know pulling back um down

almost 1% but you know will this breakout hold so far it's it's retested once and looks like this old resistance level may have finally become a new support and that's you know a bullish indication not only for this index but for the market overall is the way that that some Traders might look at that okay so let me erase this time and then what about our volatility index you know sitting at 12 that's at the one the 2year low on this is 1180 so you know this is within um you know $1 um so it's s

itting absolutely at the low end of the range okay yeah yeah James is saying yeah the Russell's always on The Struggle Bus it's been on that bus for a long time but it seems like it's you know it's it's trying to break out into a new Arena so you know that's a good thing so if we come and look at our indexes and this is just a public watch list sector indices and I kind of customize this now if you're new if you're brand new to this class feel free to type in a greeting so that we can welcome yo

u um but if you're new to this and you haven't seen this before I created a little mini session so one of the reasons you'll want to subscribe to the channel is that so that you can access these different playlists and and the mini session you know include um you know how I've set up my chart and how to get this and scripts on and and how to create this as well and there most of them are in that kind of you know 8 to 12 minute range um but if we take a look at this is four weeks and three months

so if we take a look at over the last three months which sectors have been the strongest well Communications uh technology and Industrials are in the top three and then financials coming in Forth and then look at that energy which has been kind of uh you know had a lock on last last place for a while is now up in the top half over the last three months now when we look at the last four four weeks or the last month energy you know number one go figure and then we've got you know materials Indust

rials um utilities but the only one that's actually been has a minus sign in front of it is is Healthcare in the last four weeks so the Market's been pretty bullish um so yeah to those that are uh new switching and others like welcome aboard okay so that's what's been happening sector-wise so if you were just starting out and you're saying like hey you know what sectors might I focus on like there are over 12,000 stocks listed on the major exchange exchanges not counting the O over-the-counter s

tuff um you know it can be a little overwhelming so you can start whittling things down you know uh um by looking at this kind of stuff okay so our account if you're new we started at 20,000 back in no November of last year I usually reset the counter in January but um because we started in November we'll run through to the end of this year we're up about 50% in this account um thus far um and who knows where we'll be by the end of the year we have about 8,880 that we can invest and this account

does have margin in it um and some are okay with using margin and others kind of go yeah no not so much um but then that's a personal decision but that's the the cash we have investable in the account so let's start by looking at an energy stock and we're going to start with halberton because you know when we look at this sector and this stock man like I call this a Tums chart in that like if you own this you've probably been chewing on some Tums lately because it's giv you a bit of indigestion

but if we come in and look at say the last nine months we had this stock seeming to be recovering right it went from $30 um to 43 and then it came down and anybody you know like we play a little bit of I spy in this this class what kind of pattern are we seeing here go ahead and type it into the chat yeah I saw we just had a survey posted I'll talk about that in a couple of minutes it's only two questions but we love it when you can fill that out yeah so um when we look at this we've got this k

ind of inverted Head and Shoulders pattern right and it's gone from kind of 32 and I'm just rounding here or 33 to 3750 um and and what some technicians will do here is they'll say okay I'm going to subtract that 3755 from the 3287 and that gives me a range and I'm going to just Round Here of about $4.70 so if you wanted to put a Target on that you could just add 470 to your 3755 and so um what some people might might do is they might say well I'm just going to buy shares of the stock and I'm go

ing to put a Target at 3755 I'm going to put a Target around the $42 Mark and so that's one way a technici might choose to trade this Now spoiler alert I did talk about doing bu right covered calls and you may note we have an earnings event coming up now how can you tell what the actual date of that is well if we hover over it it will tell us the date come on come to Mama there we go so earnings will be April 23rd okay so with this um if we say well if earnings is coming April 23rd I happen to k

now that the April expiration date for the monthly is April 19th so if we did a buy right covered call and and some people maybe part of their rule set or their trading plan might be that they prefer not to trade this over earnings um this strategy you could say well what if I bought shares of the stock and then sold a call just above where it's currently trading maybe even at 39 how much might I get and you might say well would that be worth it it's like well it might it might not like how abou

t we go see um so just let me get my notes here I'm writing down this 3755 because we'll base our stop based on this breakout here so we're going to come to the trade tab we're going to come out to April earnings is you know probably the Monday after I I'm assuming so if we say 3850 this 39 strike we get paid 8 3 to 85 and you might say well like that's barely worth it but keep in mind this is a $38 stock so if you're getting paid 83 to 86 cents like that's over 2% and then plus if we sold the 3

9 we'd have that extra 60 cents so if we want you know to make it easier to do the math on The Thinker swim platform that's buying covered stock the most we can make on this if we get called out at $39 would be $39 minus this 3758 so if I'm going to switch my Gadget here to a calculator um and say well if the most I can make is 39 and it's 3758 so I'm going to subtract that 3758 is what I'm paying to get in we can make a142 what's that as a percentage I'm going to divide that by 37 uh 58 that's

about 3.8% you know that's not bad some might say for a trade that one is in for 28 days you know a maximum of 28 days and what can happen well what if the stock ended up closing at 3880 and we don't get get called out well then we get to keep this premium and then we could sell another one maybe the next time we'd sell the 39 and what's the advantage of a buy right covered call well if the stock doesn't end up going up um we could still have a profitable trade in that we could get to keep this

this premium okay we could get to keep this premium and we'd still own the shares of the stock now if we do a long call vertical and we do the 38 and the 39 if if it doesn't move up through the 39 then we're not going to have our Max gain and we could lose 100% of what we invest so we're looking at these two strategies and each of them has their their benefits and and their limitations but we're having to invest here 3,750 $7 now our Max position size in this class is 5,000 and our Max risk per

trade we want to limit to our in the neighborhood of $500 per trade and how much are we risking here we're risking 3,756 so if we wanted to put a stop on this where might we put it well it's interesting that this number is 3755 because when we come to the Chart here's what we might consider to be support level is around this 3755 so could we take this 3755 and say hey if this goes 3% below that so if we put our stop at 3642 if it if the stock goes down to 3642 which is about a $2 drop we would w

ant to buy back the call we sold and then um exit the position and then sell our shares so our risk then when we look if we put a stop at 3642 and we're paying 3750 to get in is somewhere you know just over $100 um so does that meet our trading parameters it does well if I have to buy back the call how do I put in this exit I'm going to go to single order first trigger sequence rightclick and we are going to create an opposite order and we're going to make it a market order because we don't know

exactly what the value of that option will be our assumption is that it would be less so we're going to make that good till canceled but if volatility goes up you know that kind of pumps up the price of our options also but we're going to say if the mark on H goes at or below 3642 close out this position so 3642 save confirm and send so what we're doing here is buying covered like one covered position so we're buying 100 shares of halberton and we're selling the 39 call it's currently trading a

t 3838 um the most we can make on this 14 4 the most we can lose 3,756 now it doesn't take our stop into account and the fact that we're putting our stop basically a dollar below our net price to get in um and you know we always want to read this this with stop orders there isn't a guarantee that we're going to get out at the price that we've requested and you know if there is a lot of volatility in the Market at the time this happens um you know they might just create a limit order and what the

y're saying is they'll work hard to get us out but there's no guarantee okay so this is a byri covered call and we're going to put a note in here that we are going to compare this to a long call vertical okay okay I'm just going to pause and look at questions how moves at a snail's pace um compared to so I'm going to send this in we're doing one um and if we come back to the chart on an average day I have one ATR down here at the bottom it moves about 81 cents from top to bottom at one point it

was moving a lot more than that this is the average true range which you can easily add to your chart just by coming to studies and then edit studies and then type in ATR and being it so close to the top of the alphabet and if you wanted a more complete definition just click on the little question mark and it will give you a pretty complex definition or more more complete definition let me put it to you that way um but basically it means this is how much the stock tends to move in a day well we'

re at 3838 so you know we have how many days we have 28 days for it to move the amount that it moves on a typical day you know which and and this here this is probability of touching so it's saying we have an 82% 81.8% probability that it's going to come up and at least touch this 39 strike and we've got a 40% probability of it being in the money this is probability of it being in the money at expiration how did I get these in here well I just came up here and I customized it and then you can ju

st start typing in probability and it'll give you all your probability choices and I just thought you guys might find that interesting so I put those in there okay so now let's look at the second choice which is what if I bought the 38 and like bought a call and then sold another call at this 39 so let's look at at that so and do we have lots of volume here well we have thousands of contracts we have a tight bit ass spread we have something that you know trades more than a million shares a day s

o you know if you're new to Long call verticals I will post in the notes below and in the um endcaps a link to the class that I taught back in November where I was teaching long call verticals at the time the vertical class on Thurs days and I did an example trading plan and it's just an example um JP you know what these are archived and if you subscribe to the channel within a couple of hours you'll be able to go back and see um all these all the details of what you know of what we've done so I

'll review that at the end of the class so here we're looking at buying a vertical and it will default to the smallest possible width which is 50 Cents but if we say we want to do a 38 and a 39 our goal is basically the same for it to go through the 39 um we're paying 50 cents for that so at 50 cents um our typical goal in our example trading plan for this class for a long call vertical is we'd like to see a 50% gain now on our risk and so when we hit confirm and send if you don't want to do the

math yourself how much could we theoretically lose $51 not including dividend risk how much could we make 49 so that's kind of a one: one risk to reward ratio where on the byright covered call we're investing you know over $3,000 almost $4,000 for you know a Max gain potentially of of about 3.8% here we looking for we could almost get 100% gain we're saying we would be happy if we could get 50 but 50 is a lot bigger than 3.8 isn't it but if this this is more directional if it doesn't go through

this 39 strike and stay there how much could we lose we could lose the entire amount where you know if it goes sideways with the Buri covered call we could still end up in a profitable position um if if this goes nowhere um this you know our our break even on this is at 3851 and so it it has to go up at least a little bit okay so we are going to come back to edit now if we can risk up to $500 how many of these could we do well we could do we could do 10 of these it would be we'd be risking $520

and we're going to come to single order first trigger sequence we're going to right click and we're going to put in our Target which is that we want to get out when we've got about a 50% gain which would be at around 75 cents so we're going to put in an exit at 75 cents now on the flip side if it goes down and it's only worth 25 26 Cents and we're down 50% we're going to exit and I get asked this all the time so I say this all the time so if you're with me all the time apologies for the repetit

ion we don't put in an Oco order because sometimes when the market first opens there's a lot of volatility and you can end up either hitting a Target note for a really a bigger gain than you were expecting sometimes or you can end up stopped out and you could end up stopped out for a bigger loss than you were expecting and then the market kind of settles down and you wouldn't have been out at all so I'm just trying to kind of come up with a trading plan that would work in the real world in addit

ion into working in paper money and you know this is what I have found to be my experience in in a live account um which what I'm telling you is I've been stopped out for a huge loss and then the market settled down and I wouldn't have been out at all and I thought okay well I don't want to see that happen again and so this is when I kind of tweaked um my trading plan and so what do we do is you know what some Traders will do is then say I'm just going to make it part of my daily routine to look

at all my long call vertical or long put vertical positions and if they're approaching a 50% loss I'm going to look at do I do I choose to exit Okay so confirm and send how much are we risking $510 how much could we potentially make $490 now could we lose more than 510 if we let it go into expiration and we were assuming it would be exercised and it wasn't or you know if it was in between the strikes could we end up in a pickle a bigger pickle than this we could and so part of your trading plan

for the strategy might be that you don't let it go into expiration now um we have a transaction fee with this and it is you know per leg per contract so it's $13 we're going to put this in our long call vertical bucket and we're going to make a note that we're going to compare this to our by right covered call okay okay fire in the hall oh this is now at 52 so we'll see if it fills if not I'll go in and edit it okay so that's our second trade and both of these were on halberton and we we discus

sed that energy was all of a sudden kind of rising in the ranks um in the SE sector parade and that was part of the reason that we we chose that particular stock okay let's come and look at something in the financial sector and the financial sector's kind of been coming around also and when we look at Bank of America do you see what I see you know and you might say wow this is very much but this is a $30 stock so it's gone up by about what $325 so sorry 3479 minus 3156 so 323 and I mean one of t

he reasons something that influenced my choice also was the fact that um whoops that we wanted stocks that were $50 a share or less and so that was part of what informed you know my looking for these kinds of stocks so you know another inverted Head and Shoulders pattern this one about with a range of about $323 and so if we look at this and say okay 3479 plus 323 that's about 38 we're up around this $38 Mark here and we hit a high today of 3761 so could we do this same idea of buying 100 shares

of stock selling the 38 now what's the you might say but Barb it's just come up for 4 days what if it goes down for two or three so the advantage of buying the covered call today is that we might get more premium for it cuz it's trading closer to the $38 Mark the disadvantage is it could pull back for a couple of days but if we believe from this our analysis of looking at the charts that this might continue in an uptrend that we might be willing to take that that chance that it could pull back

for a couple of days okay so and and others might look at that and go no it's pulling back I'm not doing that and and I mean that's totally legit okay so it's it's your trading example you might just say you might put in the notes like just following along in class but I wouldn't have placed this trade I used to do that not infrequently so 323 is the difference between the bottom of the inverted Head and Shoulders pattern and the top of the inverted uh Head and Shoulders pattern and so a technic

ian might say whatever this distance is I'm expecting it to move that far which it basically has it's interesting like how this technical analysis stuff sometimes works out okay so let's come out to the trade Tab and if we look at the same one in April this 38 strike now this you we're not looking at a very volatile stock here um but if we look at this we say 38 um we'd get 61 cents we've got about a 70% probability of it touching only a 35 it's saying here 34.8% chance of it being in the money

at expiration we've got almost 13,000 contracts so if we look at this and we say well you know this stock it pays a dividend of 25% now in paper money um it actually doesn't pay a dividend end and if we're looking at this more as a short-term Trader but even as a short-term Trader we might say well we could see how this might be appealing to people who are looking for dividend income and that might help you know keep the price a little higher also the fact that it has a price earnings ratio of 1

2 which um if if somebody's looking for something in the value stock Arena you know there are some traders that consider something with a PE ratio of less than 20 to be a value stock that that might be appealing to some investors and the fact that the financial sector has been gaining in strength since it got clobbered last year so if we kind of look at this and say okay I'm going to look at oh sorry we're going to look at buying covered stock again and when we do this calculation how much could

we make well a160 38- 3640 a160 on an investment of 3640 so that's about 4.4% so you know higher than the one before yeah and Bridget we could do a conditional entry above today's high um you know in which case we don't know exactly what price will be getting in but but that's certainly something that we could do okay so we're going to come down and say okay we'd be happy with a 4.4% return in 28 days were we called out if we're not called out and we just get to keep this 60 cents a share or $6

0 we're okay with that too where might we want to put our stop well we might say you know if we're looking at this 3479 as a support level we might just go 3% below that so 3479 * .97 so that would be at 3374 I just did that on my own little calculator so we're going to come back to our trade tab single order first trigger sequence rightclick create an opposite order and put in our stop as a market order because we don't know what the price of that option is going to be exactly it depends on whe

n it hits the Stop and if volatility changed and all that stuff so if it goes below 3374 we want to exit 3374 would that honor our position sizing rules well 3374 that's less than a $300 difference so okay so we're buying a covered position so we're buying a 100 shares now one thing that I didn't point out to you so we're going to come back is that earnings is coming up and earnings on this one is on the 16th and this doesn't expire till the 19th so we could say we're just going to close it out

but might we add a we could come here because we were going to do a stop at what price 3374 so if I add more strikes 14 strikes well here's 34 for 4 14 or 15 cents I could buy a put which would give me the right to sell this stock at $34 and I said you know we were willing to get out at 3374 or for 26 Cents I could buy a put that doesn't expire until April 19th so what I'm going to do is come and cancel this part of the order did it just cancel the whole thing dang it okay so we're going to come

in here cuz I did say I would do this buy covered stock what the heck I'm going to delete that okay let's come out again it's going to do the same thing I don't okay I covered stock I don't know why it keeps adding this so what I want to do I'm just going to delete this whole thing here we go sorry guys byy covered stock and then we're going to come up here we're going to keep our first trigger sequence and we're going to come up here and we're going to add a protective put rather than doing a

stop at the $35 Mark cuz we're willing to spend 26 Cents on that or we could do the the 34 because we were willing to get out at 3374 so we're going to buy a put and now we have protection over earnings so that if we don't want to exit prior to the 19th um you know we don't have to um exit prior to earnings and we we have protection so we're going to come to confirm and send uh we're putting this in our by right covered calls and we're going to compare this also to a long call vertical so we're

going to hit send send that in and then we're going to come and do this same idea how about we did the 37 and the 38 how much does it have to go up it has to go up 95 so we're coming to 37 we're buying a vertical now we could even do the 3750 but if we did 37 and 38 it would have to move up a dollar this is 45 so I like the idea of the 3750 let's do that so this it doesn't even have to move up as much much so 255 time uh 1.5 I've never done a 50 Cent spread this is a new thing for us um so then

we would want to get out if this hits 3750 and how many of these do we want to do this is where we might say you know what if it's 65 cents it's it it's a130 per contract to both get in and get out to make you know 37 cents $13 so we might just stay with our 38 because this is you know such a small amount so if we take our 45 time 1.5 we're going to get out at 67 and then we can do let's say we can do 10 of these we're risking $450 first trigger sequence rightclick opt opposite order we're going

to make this 67 which is about a 50% gain off our 45 entry point confirm and send we're going to how much could we make 450 how much could we lose 550 sorry how much could we lose 450 how much could we make 550 um but we're saying hey if we could make like half of that we'd be less than half half of that we'd be happy campers so we're going to put that in our long call vertical group and we're going to compare to our by right covered call Trade so we've done four trades today two on Bank of Ame

rica and two on halberton one in the finance space one in the energy space like when did we last not include a tax stock in this class yeah so we're sending that in so here's where I can get a wee bit bossy at the end of the class cuz our 45 minutes believe it or not has pretty much come and gone um but what I'm going to ask you to do is one if you haven't subscribed to this channel you want to do that because you want to be able to access the archives easily when I want to watch a webcast um I

I go to that Trader talks channel from Schwab coaching and it it'll tell you what is up next and so I really like being able to do that um so and it's free to subscribe you want to hit the like button so as you enter your weekend you're knowing that by hitting like that you have perhaps done a favor for a random stranger in moving this up in the YouTube algorithms it can make it easier for other people to find it also lets Kevin and I know that you found this content valuable so hit the like hit

subscribe there's also a survey in the chat and Kevin if you could repost that one last time it is pinned to the top of the feed if you're with us live it's two questions um and you rank it from one which which was this was awful I'm never coming back to this again to 10 I loved it and I don't want to miss another one um and everything then in between and then you can also put comments in so my ask is that let me know did you like the pace did you uh was it too fast or too slow um did you like

the number of Trades we covered would you are there topics I haven't talked about lately that you would like me to cover in an upcoming class so this is where you have a voice if you're watching this in the archives you too have a voice you can just type it in down below um what you'd like to see covered in upcoming classes and whether or not you found the pace to be great do you like you know are there subjects you'd like me to cover in upcoming classes because then I make a list I take my note

s and I promise if you type something in there that I will read it and so will our management team and last but not least and Kevin's already on top of that um follow us in the land and of Twitter now known as X Kevin Horner CS for Charles Schwab Barb Armstrong CS so guys I hope you have an absolutely fabulous weekend doing whatever uh you intend to do I will be driving to band Oregon this weekend to spend a few days with my daughter and her husband who are moving into their first home so that's

very exciting and perhaps more importantly to spend some time with my grandson Caleb who is just a little chunk of Loven so I'll be gone the first couple of days of next week but then I'm back and you'll be stuck with me for months on end so guys have a really great weekend thanks to Kevin for joining us in the chat and I will see you in a webcast coming up soon take care everyone bye for now