Video Image not displayed

I just installed this theme, but switched back until i get this issue figured out.

My site is very video heavy, when I create a post and use the video format, the video plays on the site, but instead of an image showing up from the video, it just shows the standard grey default image appears. I am pulling all video’s from youtube

I would like to have an image from the video be displayed as a thumbnail.

Here is a screenshot of what I am talking about https://screencast.com/t/ve30FaQQ

Thank you for your help!!!
Brandon