 We all said Dan we're we're live. All right Welcome everyone Big day today big day yesterday. It's gonna be a lot of big days So we've equipped those back when we are back as well. We've got some special guests today that we're gonna Be Supporting this channel going forward. So we're looking forward to you know kind of a melding of the mines here and We're gonna get into How to Incorporate structure into your outlook and before we get into that I want to go over this disclosure, you know all information and presentations are for educational purposes only and should only be considered specific investment advice nor recommendations Cryptocurrency's futures options for since stock trading contains substantial risk And it's not for every investor an investor could potentially lose all or more than of that initial investment risk capital is money That can be lost without jeopardizing one's financial security or lifestyle Only risk capital should be used for trading and only those with sufficient risk capital should consider trading past performance is not necessarily indicative of future results and You have to remember that with your own trading as well Just because you had a big day yesterday doesn't mean you're gonna have a big day today So keep that ego in check. I'm John Slazos from Dharma capital trading You can reach out to me directly at info at Dharma capital dot trade and come to our website Check us out on X and YouTube Today what I'm gonna be joined by Mike Williams from Thrive Labs Mike is a trading educator and trader self-taught and He's been trading crypto for some time. He'll give a little bio when he comes on board here He's gonna give his outlook and he's been doing crypto outlooks for a while and with some good results and We're going to go through his outlook and put some structure around it And we also have Spencer regal on board who's our chief options strategist so we're gonna take a look at Mike's forecast and put structure around it and then Spencer's gonna come in and Go over how you can use options to take advantage of that outlook So you'll have kind of all all the firepower and what we're doing here at Dharma capital You know our real mission is to create a positive impact and help traders achieve their full potential And that's what we're doing with our collaboration with Thrive Labs as well with Mike Williams You know we empower traders with fact-based trading solutions that enhance self-awareness and decision-making Our approach enables traders to execute trades confidently and effectively by facilitating a state of flow So today we're going to go through Mike's outlook For you know basically just kind of recap what's happened in the last couple days And what he sees going forward in the next couple days keep things on a short term here crypto is pretty volatile So we'll keep it short term We're gonna I'm gonna come through and Apply our price map overlay as a risk management overlay to Mike's forecast and see if it's supporting the context of the facts And then Spencer is gonna follow end the session going over specific option strategies and nuances and tactics of those option strategies and So I'd like to introduce everyone to Mike Williams Mike if you'd like to take over and share your screen and your thoughts Well alone good day everybody. Thank you for the invitation. Happy to be here My name is Mike. I am a trader. I trade mostly crypto I do this on all different timeframes and basically what I do is I read charts and I use technical analysis to identify Key support and resistance levels in which I look for liquidity to collapse Against those areas. So as a matter of fact, I am actually trading liquidity That is my key way of looking and taking trades And I use technical analysis to Identify possible areas where that might happen I also make an effort into teaching what I do And more importantly, I don't necessarily teach people how to make money But first of all how to stop losing stabilize and then grow sustainably And I'm here now to give you a short Update on what has happened on Bitcoin because we have seen quite some volatility. So let me get started with sharing my screen There we go Do we have it? Do we have it on? Anybody can confirm. Yeah, I'm not seeing it right now Mike I see it on my side. All right Then let's let's get started Essentially what I want to do is I want to keep it basic and I want to keep it really simple And I want to I want to focus on the structure that price is simply giving us and how that actually Holds up really well without even using too much technical analysis altogether, right? So, you know, I'll be switching through different timeframes, but I will be covering basically the price actually from yesterday and today and how How my outlook is for the coming days forward as we have seen immense Volatility, we've seen a breach of all-time high yesterday. We've seen a decrease in price of about 15% in just a matter of just a few hours and overnight We have basically shot up trading at pretty much the exact region as we did yesterday Which is quite interesting So essentially what I'm saying here is and this is also I've I've been doing a livestream as we were reaching all-time highs and Looking back to 2017 and 2020, you know, it was to be expected that we are gonna see some kind of reaction You have obviously people taking profits at all-time highs. You have people trading the breakout and you also have Bears in disbelief that are attempting to short all-time highs now All this combined can cost some immense volatility and we did got that only to retrace to about that $61,000 area where we have that previous piece of price structure coming in where we had some consolidation that provided really nice Support if we throw on a fixed range, which allows us to see the volume profile in a vertical way Then we can see over here That we have a point of control that has held up quite nicely now due to the volatility We blasted through it at first right, but eventually we stabilized around that level and eventually we got a bounce over All the way back up taking out this low this low and all these lows all together, right? So like I said in the beginning big liquidity grab all the way from top to bottom and now we are In the process of doing so I also you read order flow where we could see over 200 million shorts coming in at the very lows You know providing that fuel once again that liquidity to squeeze back up to where we are at right now And what does surprise me though is that many of those shorts remain in their trades? I will show this at a later stage and maybe in a different stream But for now I want to keep it simple and and basically share with you how I'm framing the price action So since that since the drop now we have seen that really big bounce overall all happening in one single day John is right. We are back crypto is back. The volume is back. The volatility is back and it's a great time If you know what you're doing obviously so today I'm basically framing the price action as follows Currently we just have a sideways day, which is to be expected after such a volatile day Am I still there? Yeah, I got you right my PC is freezing As you can see let me reload that and Let's continue. So what I'm what I'm basically looking at right now is if I Make the price a little bit more readable on a slightly lower time frame Then all that we did today eventually overnight we had this bounce to the upside and Basically the way that I'm framing the current price action is just a sideways range bound environment with with very nicely respected levels to the upside very nicely respected levels to the downside I have Created this channel off of a five-minute time frame actually connecting the candle closes with the candle closes and Verifying the channel with a nicely and well respected midline as we are making our rotations back down Through the midline back down again. We're also the V web is important intraday level very nice respect on these level And now after reclaiming that midline of the channel again We are making our way to the top of this channel giving us our resistance point at 67600 more or less where we now have seen a little reaction But we haven't really touched that level or exactly which is important if you're day trading Especially if you're sculpt raiding on the lower time frames. So for me, the level has not been hit yet I'm still waiting for that to be hit if we do reclaim that Then it all comes to fruition in my opinion where we basically have that rise in price consolidation and a Reestablish that local uptrend while never having even lost the macro uptrend altogether even during the drop yesterday Because what we've done yesterday is simply we touched all time high Over here we touched previous support, right? That is what a range in my opinion is for it is a Reflection area where people decide where the price should travel higher or not or in other words if price is considered Cheap or expensive if it breaks out of a range It should give Continuation and the next time that it retest that area it should act as support Which it did and now on the lower time frame We're doing the exact same thing, right? So we had that drop into higher time frame support and now Re-establishing this structure again with a high higher low higher high range bound and therefore the expectation Is that we are going to breach this high once again in order to test all-time highs once more that is my expectation and When would that be invalidated that would simply be if we break the structure to the downside in other words lose the V-web or that downside of the channel and if if we drop over here and Back-tested that is for me a confirmation that that structure is now broken and we can see if we can you know Change that structure again to a local downtrend where you know where the previous support comes back into play as I just said This is now a range for today and that should act as support, right? So excuse excuse me Mike. I'm sorry. Could you just shout out those levels that you're talking about so everyone's clear on that All right. Yeah, so support levels over here basically resistance at the moment We are pretty much at it is sixty seven thousand dollars and six hundred support level here is sixty five six hundred Should we lose that and back test that successfully then the level is something that I consider lost And I would be simply looking back to sixty three thousand dollars six hundred Otherwise the expectation is simply we're going to test you know a Daily level which which is a horizontal level based on yesterday's daily close Or two days ago actually Sad at sixty eight thousand dollars three hundred and fifty more or less just slightly below all-time highs And then obviously the next level after that is new all-time highs And then we have the magical seventy thousand dollar level which I deem an important level due to the Psychological weight that is being put on that as that is human nature. They look at rounded numbers therefore seventy thousand dollars is a level that I want to be aware of when it gets hit and So yeah, the expectation is simply higher prices to come unless invalidated if we drop below sixty five five Thirty three to be very precise Then this attempt has failed and we can see another rotation back to the downside where that support comes in at sixty three thousand dollars six hundred and then ultimately sixty two sixty one thousand dollars once more and That's it for me Sounds good, so let me I'll take back the The reins here for a little bit Could you what was the so is sixty three did you say sixty three thousand six hundred on the downside and sixty one thousand two hundred? To the downside like the old the bigger support in my opinion comes in around the sixty two to sixty one thousand dollar area and The bigger resistance is well where we are at pretty much right now until sixty eight thousand dollars and three hundred and fifty Okay, great Put that up there. All right, so So Dan I'm gonna share my screen now Actually didn't stop sharing my screen All right, so Mike you can chime in and correct me if I'm wrong. Can you can you guys see my my screen now? All right, I got it perfect So correct me if I'm wrong, so we're basically positive above sixty five six hundred we We're at a pivotal point here at sixty seven six hundred if we get above there We are the expectation is you know, there could be a speed bump here at sixty eight four hundred But we're looking for a challenge to new new new highs seventy K Somewhere in this range as the market's gonna make decision and then if we can't hold this level of sixty five six hundred We could see the market slip back into this zone All right, so let's let's just take a quick look we're looking at a daily So I want to pop up the the playbook just to get some context real quick and then we're going to get Go right into the price map. So I'm not gonna take too much time on this, but we've got You know Bitcoin is in a bull trend so that supports the positive outlook and Structurally the market the sentiment is below the market. So that supports the positive outlook and so let's you know So context-wise Your outlook is in alignment with what we've got going on. So everything that we're doing gonna overlay now is just facts So I'm going to overlay the the previous trading session Timeframes on here so we can take a look at that and so you know Mike's focused on this sixty five six hundred level Well, that's above the previous days close and midpoint. So that's a that's a positive fact Here's the previous days low previous days high and the previous days high is you know, it's new all-time highs You know, so that's that's in play. Mike's aware of that So now let's add the sentiment bias. So this is our over under number. So this is going to give us insight to okay You know, where's the where's the big buying energy for today? Well, it's down at 62 You know, basically 500 we call the downside pivot Now let's put our critical range structure on the market to take a look at that and And so with Mike's forecast coming in at 65 600, you know, the with the critical range This is our pivotal point that basically says above this price were positive into the upside pivot below this price We're negative into the downside pivot and what this can helps Mike's outlook is it gives him a sense of where risk is at So coming in and saying okay 65 600, you know, where's the stop at well We've got market structure here coming in at the directional at 64 672 And that lower metric boundary is aligning with the previous days midpoint So basically coming into this zone of saying hey, we're positive above this price, okay And and if the markets really gonna continue to accelerate from here, that's gonna hold if it doesn't we could you know We could see a squeeze and we could see a squeeze as low as 64 400 let's say And so that's really where it's it's telling us that hey, you know, we need to bail in This thing the other thing that's going on is the market breach the critical range early in in the session And so now we're we're starting to you know, you know the market Broke out of the critical range. Let's put our upper targets on here and our minor levels and so What occurred earlier in the session so the market came started the session out and tested sentiment So they tested that you know, this is the big buying energy Gave us a you know a real strong move off of that early last night broke out of the critical range Exhausted right in front of our target, which is also one of Mike's levels And then it it will produce what we call a failure here, which is a reversal and the market Failed down to the directional. So what this tells us You know, this is a typical reversal strategy where the market stabilizes off this directional midpoint And then every and now it's resuming and it's climbing of this ladder And so we have this this critical range positive extreme is a level that we use to Validate a trend and we can see we had good market structure here and we're retesting it now So this is the validation point for a higher move and any time we get a break out of this critical range Our expectation is to come up to the upside target to and so that's what's in play right now So it's a little bit beyond The all-time highs so you know market our expectation here is that if the market's gonna stall out We're gonna have this more stop-and-go action Let's let's respect this area here. So we could take out this and get another nice reaction But more likely if we take this out This is coming in as more minor for us and it and the the the bigger levels are higher above the market and I'm gonna flip to our weekly outlook. So we're gonna do the same thing on the weekly and Then I'm gonna hand that over to this over to Spencer so he can show some strategies Going forward since we're coming to the end of the day here Or on the back end of the day So I'm gonna just change my bar settings here going to a little tighter time frame so we can see The all the action for the week We just build this back up again. Just so we're all on the same page here and so I'm also going to swap out of my daily and I'm gonna go into my Weekly structure so based on here's the weekly time frame We have our weekly low high close and midpoint and so the market is currently trading above the previous weeks high So that's positive Sentiment for the week was below the market our critical range And you can see how you know quickly you can kind of just get an awareness of what's happening on the bigger time frame So here you had a breakout of the critical range and that reversal signal bottoming out at the directional So the similar pattern that happened on the daily today happened over the week and we put our major levels here and Also our minor structure. So here's that validation point And so this this is where you can see different alignment and I'm going to blow this up a little bit here It's a little messy. Let me take let me take these off So I want to show how we have the daily Target is also in alignment with the weekly target and that's the main thing I wanted to show there and So here again, you know, Mike's levels are kind of coming into play in alignment. We've got you know, this area becomes a The major support, you know for the the positive momentum and that's in alignment with the longer term structure and And here at the what we call our upside target one, you know, the markets kind of been through it But it really you know, it needs to base above this level to really kick things into gear And if it does, this is the natural target on the week as well And so I'm going to you know, so basically with you know, what we're doing here with book map Is when we identify and we isolate this alignment and we see that 67 600, you know, that's also the the daily You know critical range extreme and it's showing here on our cloud notes You know and we can then also see, you know, this resting paper that's been in here above the market. It's it's 6800 So this just gives us insight that this upper metric boundary of the week is you know, there's some other players in the market They're saying yeah, I like that structure And so that that also gives you insight to a hurdle So if we do get we do start basing above here and moving We've got some liquidity to get rid of and a lot of times the market could come up here ping that and get a pullback So we could get a you know push up to this area and then kind of a pullback and down to the 67 400 area, but it's also saying that you know, there's some interest there So using the the micro structure with the you know with your outlook and some hard structure around that So with Mike so we're coming into you know tomorrow session We don't know what the daily structure is going to be what we do know what the weekly structure is going to be and we do know That this is a there's key alignment here and if we're going to end what's what any time we get this violent action A lot of times that'll continue. So the expectation for us is to see you know more of this to continue having a surge into You know into Thursday And we're coming into the the eighth expiration And to see some continued volatility there So more of this kind of run to new highs and potential be vulnerable to a pullback So the structure is pretty clear upside targets are a little farther extended this the upside trigger at 67 600 of Mike's outlook is in alignment with market structure as well as his pivot at 65 600 as a failure point and then for us The lower metric boundary on the alert distance is just below Mike's target of 6100. We're saying it's a little lower closer to 60 K is where the structure is coming in Alright, so how do we how we take advantage of this using options? You know, this is a district It's a dynamic tool. We've got an outlook. You can trade perps with it We've got structure that we can use to align some strike prices with and so, you know, we're here now But you know with with our expectation that we could see another one of these after a rally to new highs Market could just fall right back and digest as well So it's it's a tricky market and and when you incorporate options into your perp and spot strategy It gives you a little more staying power, you know, and you can kind of Leverage things up with your perps But you can have this stability of an option spread to either hedge it or to get on to a longer trend So that you know when these situations occur, you're not getting stopped out because your risks are defined All right, so I'd like to let me swap here to my presentation Give you a picture of who's up next and you know what we've been going over is fact-based trading You know basically just you know, what are the facts? You've got your outlook You got your opinion, but what it what's something objective, you know Giving you a kind of a statistical baseline to work from you know And then identifying the context the structure and the microstructure using book map and then And and that gives you you know that kind of the the complete fact foundation and now I'm gonna take the Spencer takeover and he's going to go through Option strategies with Mike's outlook Perfect thanks. Yeah, thanks John. Can you can you guys confirm that you guys can see this Mike John? Can you guys see my screen? I Cannot see I can't see your screen Mike. Can you see mine if if you toggle on over? Let me see. I'm showing them live. I believe Yep, I see it. There we go. Okay. Okay, perfect Yeah, so I mean First of all, thanks for having me on it's always great to talk about options. They are a fun product. This market's incredibly fun It's also incredibly fast and it is dangerous, right? And with that being said options are an incredible tool for risk management and also optimizing opportunity, right? And so when we talk about options, what are we talking about, right? And we're talking about volatility products essentially, right? And so what I'm sharing here is the at the money IV It's a volatility term of Bitcoin, right? And so what we can see here is over the last few days volatility is exploded And so that creates a very interesting environment for us to trade One is the expectation is volatility in the market is priced up So the market is expecting that we do get large ranges So also as traders we need to understand that's a risk metric, right? If the expectation is that there's going to be a higher volatility, we need to watch our backs, right? And how do we do that? We do that with options contracts So in order to kind of put on some some positions, I believe I gotta switch over and share a different screen here Perfect and then Mike if If there's anything you're interested in feel free to stop me and we can kind of adjust and go around that as well So there's a couple key levels that that they're all kind of price and off of right and so Obviously all-time highs is in play But then also 67 where we're kind of trading top of this channel is in play, right? This is this is the weekly you to one on the price map And while yes price has bounced back Does not mean it has to trade higher, right? We need validations for that to happen, right? One of those validations is is a trade over the UT one upper upper alert or alert distance metric, right? And so as I build out kind of this portfolio, it's thinking about all these levels, right? So we want to make a play for all-time highs. How do we do that one is? we come in here and We'll come into some of these weekly expirations and So what we can do is we're trading roughly around 67,000 And so we get to we get to incorporate this volatility component to our strategy So if we come in and we sell One of the 67s we get a pal. That's something like this, right? And so we make money if the trade goes lower than 67 This is what's considered to be a short call a lot of people will do this against They're already existing Bitcoin. They're already existing ether. It's a widely known covered call strategy in a sense But we're gonna beef it up a bit so that we can take advantage of these structure points, right? So with all-time highs in play the next level that we were interested in if we kind of toggle over to John's screen is That ut2 right and so that's going to be priced around 7698.5 right and so if I come down here and I look at our portfolio our portfolio were net Delta negative point five one right and so I could come in and actually make us long a bit of Delta So that we can take advantage of a move to all-time highs, right? And so if we're net negative point five one, let's buy point six right and see how that looks on the chart, right? Immediately what this does is this shifts our payout structure, right? And so instead of having just making money if price trades under now we have more of a volatility position, right? And so you'll see that a keys directly off of that ut2 And so the expectation is over the next two days if we're going to trade to the ut2 and pull back We want to be in a short full-assility position, right? And to do that well here We have a little bit long Delta, but we have a short Vega position, right? And that short Vega will benefit in the terms of theta and we'll collect all this premium Off of these ski levels, right? And so correct me if I'm wrong Mike, but that that down That down level is going to be around 64. I believe it was 63 600 And the beauty of this kind of structure is as we trade higher, let's say we get the validation over the ut1 Upper alert distance well we can we can come in and we can buy a little bit more Delta, right? And so let's say we come in here when we buy a little bit more Delta We can change how we are playing this upward move, right? And so what this gives us the ability to do is we don't have to take a directional approach on the market In outright risk we can use these other components of options contracts to mitigate some of our risks, right? And so Inversely if the market were to trade lower and let's say we're going to trade under the ut1 negative alert distance Well, we're going to want to come in here and hedge up some of that Delta risk, right? And to do that Excuse me Spencer. Could could you give a little overview of Delta and Theta? Just so people have a better understanding of what those Greeks mean Yeah, yeah, absolutely. All right, so let's take off this option component, right? So everybody's familiar if if you're long Bitcoin, this is kind of your payout, right? This is considered to be a Delta payout Your payout is your long one Bitcoin Bitcoin goes up a thousand bucks It goes down a thousand bucks your P&L will reflect plus or minus a thousand dollars, right? Options contracts have a little bit interesting different components to it the larger Greeks that everybody's interested in are going to be your Delta component Your Theta component your Gamma component, right? And all of these different Aspects of the option contract will matter and how you trade them, right? And so that's your Delta component. This is your straight line your gamma component is going to be in relation to Delta, right? So How much does the options contract move with the underlying price, right? So what we'll notice is if we take these off and I'm a visual learner, so it's it's always easy for me to kind of just show on a portfolio if we put that same 67 contract on And we sell that right you'll notice here that We start to lose our money Around sixty six sixty seven thousand dollars, right? And that's when the option contract goes from out of the money to in the money, right? And you'll see that the rate of change in the green line is quite different than the purple line The purple line is what's considered to be the extrinsic value Or the intrinsic value sorry of the option contract the green line is that gamma component So you'll see there's a little bit of what's called in option world convexity And so what we lose here in relation to time is is gamma As we kind of go through the duration of this contract you'll notice that that green line Starts to match that purple line, right? And that's what's considered to be Theta right and so when we think about options portfolios We can think about it in many different ways one if you're short an option and it's out of the money You're looking to collect the data right so we benefit if the trade of Bitcoin closes below sixty seven thousand Come March 8th, right which is in around a day and a half of trade, right? That's our expected payout our expected payout here is in $1,500 in USD, right? If let's say at expiration we were to trade to 71 our expected payout if we were to do no delta hedging Would be negative two thousand dollars, right? And so John is there anything else in terms of that portfolio? You want me to speak on a little bit further or a little bit more granular? Well, so when I think about yeah, go ahead. Sorry. Yeah, sorry my mic was muted I was just saying they know that's great. Um, if you you know, you can get into more details and kind of step-by-step In a different presentation for us. Yeah for sure. Thank you sure So because we know there's a couple things we know that are facts in the market, right? One is fall is up And so if the market were to break to all-time highs the expectation is all is going to continue higher And if it doesn't and we break a little bit lower We want to take a short fall position And so we can just key that off into this portfolio Just how we did right? And so what that does is that creates a little bit more leniency within our ability to trade this this current market, right? Instead of short one contract sell two contracts and we're at risk of the market kind of moving to seventy thousand and we're down Four grand in that situation. Hey in this situation with the sold contracts against us We're able to really smooth out that risk curve And so what options do is create the ability to take an optimized opportunity and also manage risk And so that's and that's largely Kind of the viewpoint of the current options Is there anything Mike? Is there anything on on the chart that you want me to kind of key off of or or throw up on the Chart and and come up with different strategies around Options are are great because you can come up with any strategy Um, yeah, so what what if we break towards the lower area which John also mentioned which was Around that What is it? $60,000 if I'm not mistaken correct me if I'm wrong John So what what if we have like this really big drop Surpassing all the previous price stock structure that we've established today. How would you go about that then? Sure sure, absolutely. Let me let me jump over here and that's gonna be in the realm of Delta Which is exactly price map, right? And so let me jump over and and stream the price map for you All right, so price map here, right? What what would validate kind of a stalling at this level and and potentially risk to the downside Well a trade under the UT one alert distance minus, right, which is right around 67,000 More around probably 69 900 right and in that scenario what we would need to do is We would need to come in and sell a little bit more Delta, right we would need to hedge off that risk and so What we would do is we would come in here and I would come into the perp market and Immediately I would say all right. Well if I'm concerned about a 60,000 Dollar move, let's sell a little bit more Delta right and then the portfolio becomes More short Delta and you'll see the more short we sell the more We kind of get this this smoothing effect to our P&L Does that make sense? Yeah, so essentially you're you're continuously in two positions and you basically either, you know Increase them or decrease them based on the incoming data and how the market performs according to the playbook Exactly exactly nice. I like Yeah, so that I mean the beauty of options is as you can smooth out these curves a lot Which is incredibly helpful Also in the other respect is you can buy just straight outrides and so instead of let's say taking a directional approach on the market and Let's say hey, you think that all-time highs are in play, but but you don't really want to risk a lot of capital You can come out here and play that just in outright calls right and to do that You can come out and buy either short dated. It's all in reference to time So the first approach I showed you was less degenerate a lot more management And risk mitigation this one would be just in in terms of okay. You've made some money from this rally Let's let's keep that profit rolling If these burn to zero, it's okay because it's it's still risk capital within that portfolio So you could come out here and buy a 70,000 and what you'll see is you put down 500 bucks and if let's say we get a blowout move to 80,000 before expiration You put down 500 you make 10,000 those are those those are the The the glamorous lottery trades that that you see all over Twitter So there's a couple ways to approach this market. That's that's a lot of fun I often am going to be more on the risk management side of things. So that's how I would that's how I would approach it and I guess I will stop streaming this and then Mike if this is there anything else that you want to hop into real quick or we'll we'll kind of wrap it up Yeah, I think that's that's a well-rounded session right with with with some outlook with some facts on top of it And then you know you covering the options. It's a very Very full-rounded. I would say Perfect perfect. Let me let me hop over here And I'll hop over to the the PowerPoint and then we'll wrap it up for the day. So All right, so to to wrap it all up Let's see See which okay to wrap it all up and All right, let's this is shared. All right So in terms of options strategy There's a couple ways you can use it one is to Entry and trade selection, right? So we went through kind of how to build a portfolio around certain price structure and Events right the next is within risk management and Optimizing opportunities right options give you an incredible way to Really dropped on your risk, but also optimize the current opportunities at hand right instead of going out there and trying to hit a Home run we can come out there and try to hit a single and still make some money and Incredibly volatile events and the last is is about optimizing trade tactics and that's within order order book events, right? And so that's keying off of Bookmap and understanding. Hey, this is where the liquidity is sitting This is where I want to start looking at these levels, right? And so when book map aligns with price map The trigger on that on that alert is is significantly higher, right? And so what are we trying to do at Dharma capital trading? Everything's fact focus, right? And so if you have any questions feel free to reach out to us at info at Dharma capital trade And our method is incredibly simple. It incorporates a statistical outside view Which helps slow down the decision-making process and minimize biases, right? Yes, we want to take risks That's how you make money in the game But at the same time we want to be here tomorrow, right? And that's our largest view It's it's a risk management first before taking risk, right? Last year is trade with clarity So visit Dharma capital trade and then you can find us on X at Dharma cap trading Our YouTube is Dharma capital trading Substack Dharma capital trading and then again info at Dharma capital dot trade And then lastly if you'd like to reach out to me personally my name is Spencer Regal I am the options chief strategist for Dharma capital trading Feel free to reach out to me at Spencer at Dharma capital dot trade or follow me on Twitter at underscore Regal and then yeah Thanks Mike for hopping on really appreciate the outlook if there's anything that you want to kind of wrap up The floor is yours Yeah, I think I think it's it's very clear what the expectations are Amen to everything you said risk management is absolutely key You know, we want to be here tomorrow. So if you're trading Whatever product it is, you know know your risk before you I would say less be less less words I would say is make sure that you know beforehand what you're getting yourself into so that you Even if you're wrong on the wrong side of things that you will have enough left to live another day Right, right exactly. All right Well, I think that is all And We're gonna be back on next week Wednesday Same time same place. So feel free to stop by and and then we can chat more on on some new topics The markets incredibly active the markets back. So there's always gonna be something to talk about Absolutely Well, thank you guys. Thanks for coming on and sharing your insights and look forward to more sessions Likewise, thanks for having me on and have a great evening