 Hello everyone, welcome to Options with Doug, streaming live daily on Bookmap Discord and the Bookmap YouTube channel at 1.30pm Eastern Time. Before I get started, I need to go through the Disclosures, General Disclosure, all Bookmap Limited materials, information, and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. This Disclosure, trading futures, equities, and options involves substantial risk of loss, it is not suitable for all investors. Past performance is not necessarily a ticket of future results. Here's my contact information. The best way to get in touch with me is through Discord. My name on Discord is Doug P. Also on Bookmap Discord, there's an options-jug chat channel that's a great place to post questions, comments, and content related to the topics of my presentation and the topics of the channel that I'll go through in just a moment. And I'm also on X, formerly known as Twitter. My name there is at Doug Pless. Here are the key tenants of my approach to trading. This is the basis of my approach to trading. First of all, I believe options trades and market maker hedging activity are key drivers of price in many stocks. And SPX, for the SP500, SPX is the underlying index, SPY is the EETF version of that index, and ES is a derivative of SPX and SPY. And so when traders buy and sell puts and calls in SPX and SPY, market makers take the opposite side of those trades and they hedge their delta exposure with the ES futures. And for the NASDAQ 100, NDX is the underlying index, QQQ is the EETF version of that index, and NQ is a derivative of NDX. So when traders buy and sell puts and calls in NDX and QQQ, market makers take the opposite side of those trades and they hedge their delta exposure with the NQ futures. The focus of my presentation today and the focus of the options-jug chat channel is options order flow, the impact of options markets on stocks and futures, and the influence of market maker hedging flow on price action. I have a two-step process for trading and the first is planning, and I use positional analysis. I look at how traders and market makers are positioned at the options market and how those positions change from day to day to develop a thesis regarding the expected trading range and volatility for the day as well as the directional bias. And the second step in my process is execution. I look at real-time order flow and book map and real-time market maker hedging flow and spot gamma hero to confirm my thesis and for setups. And when I talk about setups today, I will be focusing on an underlying asset. For example, for the ESP 500, setups can be taken with ES futures, SPY shares, SPY options, SPX options, or even ES options. Questions and comments are welcome, and I will be watching both the options-jug chat channel and Discord as well as the chat and YouTube free of questions and comments. Please feel free to post. I'll do my best to answer your questions. Hello, Sheena. Welcome. Glad you're here. Here's my agenda for today, Thursday, March 14th. First of all, I want to go over news items for today as well as the rest of the week. And then I'll cover my positional analysis for today. Then I'll review some setups of earlier today. Then I'll take a look at the live market. And when I get to the live market, if anyone has any stocks they want me to take a look at, please let me know and I'll be glad to do that. All right, so let's start with economic data and events. For today, there were a couple of important data releases today, PPI data and retail sales at 8.30 a.m. Eastern time. Here's the results. And it looks like PPI came in greater than expected, so hotter than expected. And it was kind of mixed with comparison to the previous number. It looks like core came in in line or a little bit less, and the non-core, whatever you want to call that, came in greater than expected, greater than the previous. And retail sales came in positive, greater than expected, actually a little bit less than expected, but greater than previous. All right, so that was the data today. Then tomorrow is the big options expiration. That is the monthly options expiration. It's also a quarterly expiration, excuse me, and typically the quarterly expirations are the largest expirations, March, June, September, and December. All right, so let's take a look at the expiration concentration. And this chart is showing market makers delta notional on the vertical axis by expiration date on the horizontal axis. This is the March expiration coming up tomorrow. Orange bars are showing call delta, positive delta, blue bars, put delta or negative delta. And it's very obvious that this is a heavily, heavily call dominated options expiration. What can typically happen on a call dominated expiration are those calls that have been stabilized in the market, a lot of the calls that have been stabilized in the market expire and there's typically consolidation or some weakness after a call dominated expiration and certainly volatility should expand after this call dominated expiration. All right, I know this chart is showing delta notional for the SB500 NASDAQ N-Russell 2000. So that's a combined chart. All right, so that's the options expiration tomorrow. All right, let's take a look at the charts now. This is the SB500 ES futures and book map. So not really much of a reaction to the to the data data release at 8.30 AM Easter time down, then up in resistance at the spy 518 level and also the ES 5250 level. All right, before I take a closer look at this chart, again, this is ES futures and book map. Before I take a closer look at this chart, I want to step back, look at a larger time frame. I'm going to go to the underlying index, which is SPX. So we're moving on to positional analysis now. So we know the reaction to the news was somewhat muted compared to the overall reaction after the cash open. All right, so this is the current rally that began last year, October 30th. SPX since October 30th has rallied up over 1,000 points, about 1,080 points. So that's a one day chart and thinkorswim. Now let's take a look at a one hour chart just to take a look at the top end of this rally. So that's the trend line that began again October 30th last year. The high for SPX right around 5189. All right, let's take a look at the levels on this chart. And note during this year, 2024, the SPX call wall has moved up from 4,800 to the current level at 5,200. More about that in just a moment. All right, let's zoom in on this chart just a bit and focus on the levels on this chart. First of all, the dash purple lines, and I'm talking about this upper one here. That's the lower and upper weekly expected move. This is another line that I'll talk about in just a moment. All right, so the purple dash purple lines, lower and upper weekly expected move. That's based on the closing price for SPX on Friday. I get the expected range for the coming week. These levels remain in place for the entire week. They do not change during the week. And then the dash blue lines are showing the lower and upper daily expected move. This is based on the closing price yesterday. And these lines do change every day. And I post all these levels in the options-dash-dug chat channel and in Discord, Bookmap Discord, the evening before. So yesterday, I posted these levels around 6.45 Eastern. All right, so it looks like SVX is testing, has tested the lower daily expected move for today. All right, the yellow levels on this chart are spot gamma levels. These are proprietary spot gamma levels that provided to subscribers, spot gamma subscribers. They're available on a variety of training platforms. Again, this is thinkorswim, a 30-day one-hour chart. I'm going to point out the key daily levels. So first of all, here's the put wall. That's a strike with large net negative gamma. That's at 5,000. And that level can be expected to act as support. And note that level did move up from yesterday, from 4,800 yesterday up to 5,000 today. The next level up is the volatility trigger, VT. That is spot gamma's proprietary volatility flip level. Below that level, market makers position on the gamma curve is negative. In a negative gamma environment, market makers have to trade with price-dash-dug or delta exposure that tends to enhance or increase volatility. Above that level, market makers position on the gamma curve is positive. In a positive gamma environment, market makers have to trade against price-dash-dug or delta exposure and that tends to subdue or decrease volatility. And note that SPX is trading above its volatility trigger. The next level up is 5,150. That's the absolute gamma strike. That's the strike with the largest absolute positive and negative gamma. So that's where most of the gamma-weighted open interest is concentrated. And that level moved up yesterday to 5,150 from 5,000 and had been at that level for quite some time and still now remains at 5,150. Then finally the call wall remains at 5,200. That's the strike with the largest net positive gamma and that can be expected to act as resistance. So potential floor for price at 5,000, potential ceiling at 5,200. All right, so the only shift in level for the SPX was the put wall shifting higher to 5,000. All right, Anirag. Hello. Welcome. Glad you're here. Ask what were the green and red horizontal bars in the daily analysis? I'm not sure what you're talking about. Are you talking about this chart right here? So this chart is showing I've got purple, blue, and red lines. The magenta or purple, that is the lower and upper weakly expected move and the red lines or the blue lines, lower and upper daily expected move, red lines or the spot gamma levels. All right, Anirag, I'll get to that. I'll get to examples in a few minutes. All right, so in the SPX daily chart, all right, we can take a quick look at that, SPX daily. All right, so there are no red, there are no green lines here. Oh, these lines, I guess you're talking about. These lines right here, this is part of an indicator that I have. I got that from somebody else. I actually use that for the weakly expected move, those small lines, and that is something that I got from another organization that it's not mine to share. So that's what I use for the, that's where I get the weakly expected move from those lines. A little bit different calculation. All right, so I hope that answers your question. All right, let's wrap up our view of SPX. Let's go to a one minute chart here, showing a couple days worth of data. This is the, this other line that I draw on the chart, this 5160 level, that is SPX 5160, that was noted as support in the spot gamma on Founder's Note. I find that quite often those levels noted as support, connect as resistance and vice versa. It's just a key level that is not, not shown on the chart here, but it is acted as resistance. And note that SPX did trade below its lower daily expected move. Then also here's the 5150 absolute gamma strike, and there was a lot of price action above and below that level, but making a series of lower highs and lower lows, until finally breaking below that level and continuing on down toward the lower daily expected move. All right, let's get the book map now. On the book map, I have my own cloud notes, so I can show SPI levels. Here's that 518 level that acted as resistance right after the data release this morning. 517, good entry point for short at the cash open. That's a large Gamma 4 level. I also have SPX levels on this chart. There's that 5150, that's the absolute gamma strike that was also noted as support in the spot gamma on Founder's Note. And note before I mentioned that price had oscillated up and down around that level quite a bit, you can see the concentration of volume up and down around that level, that's shown in the session volume profile, also the point of control, shown with the dark purple solid line there. But again, price did finally break below that, also below the lower daily expected move for ES. And I do calculate that separately from the lower daily expected move for SPX. All right, so range for today, just around the 518 level, SPI 518 level above and the SPI 513 level, also the ES 5200 level below. All right, so those are the levels I'm playing for today. There is a difference in price between ES and SPX, this 5150 SPX level, I'm actually showing that at ES 5215. So right now the ES2 SPX offset is about 65 points. And note that does widen, it's at its widest right at the contract rollover. So I am using the June contract now, and that level has started, it started that difference, price offset started about at 66 points today and earlier this week and now is at 65. So that will gradually reduce as the June contract moves closer and closer to expiration. And I do post those index relationships that I'm using in the options dash, chat channel on Discord every day. I post the preliminary numbers and the final numbers. All right, so that's the SPX, SP500 levels in play, let's move on to NASDAQ. Shifts and levels, again I mentioned, for SPX put wall shifted higher and for SPI the volatility trigger shifted lower. And the absolute damage strike shifted higher to 520. So kind of a mixed picture for the shifts and levels for the SP500. All right, here's NASDAQ, NQ Futures and Bookmap, let's take a quick look at the underlying index charts to see the levels in play for today. This is QQQ, QQQ is, let me point out some of the key levels. This is the volatility trigger, 438, acting somewhat as support this morning, kind of a lower bound, 440 is the absolute gamma strike, and note this 440.66 acted as pretty solid resistance earlier today. That's a combo three level that combines QQQ and NDX gamma weighted open interest into one level here converted to an equivalent QQQ price. All right, so those levels in play for QQQ and for QQQ the volatility trigger did shift higher to 438. All right, let's take a quick look at NDX, zoom in a bit. So this is interesting, the put wall for NDX is now at 18,000. So it moved up from 17,500 yesterday up to 18,000 today, and note the call wall is actually below the put wall at 17,750, and 18,000 was also the absolute gamma strike. That level did act as support earlier today, right, so now according to this NASDAQ is trading just above the put wall for NDX. So there's that NDX level right there. And there is an offset between NDX and NQ, currently it's about 250 points. So I'm showing here in my cloud notes, I'm showing NDX 18,000 at NQ 18,250. All right, levels in play, again I've got my own cloud notes so I can show QQQ levels, NDX levels, and then key levels for NQ, NQ traded close to its lower daily expected move, not quite there, levels of play for today, QQQ 452 on the upside. Also this NDX 150 level on the downside close to the lower daily expected move for NQ, also the 18,200 level. All right, so those are the levels in play for the NASDAQ, again for QQQ, Volatility Trigger Move Tire, Put Wall Move Tire above the call wall, and the Volatility Trigger for NDX, for the NDX Put Wall Move Tire above the call wall, and the Volatility Trigger Shift at slightly lower. All right, so another mixed picture for shifts and levels for NASDAQ. And we'll get to setups in a few minutes. Let's wrap up our positional analysis. We're taking a look at Gamma Notion. This is Market Maker's position on the Gamma Curve at the beginning of the day. I'm going to focus on the SB 500 and NASDAQ. Do all these numbers a positive? And with the exception of QQQ, they all shifted higher from yesterday. So again, in a positive Gamma environment, Spot Gamma assumes that traders are short calls, Market Maker's a long calls, hence the positive Gamma, and they have to trade against price to hedge their dealt exposure. Gamma Notion for SPY up over $1 billion. Let's take a quick look at the VANA model. I'm going to take a look at the VANA model for SPX. So there is some put VANA in play for today. All right, this chart, what this chart is showing is Market Maker's Delta Notional on the vertical axis, spot price for SPX on the horizontal axis. There are two curves on this chart. The light gray curve shows how Market Maker's Delta Notional may change with changes in price only. The purple curve adds implied volatility to the equation. That shows how Market Maker's Delta Notional may change with changes in price and implied volatility. And that change in delta with a change in implied volatility is the VANA effect. VANA is a second-order grade. Let's revisit our SPX chart. Low for the day. All right, so the high for the day. Right around $51.76. Low for the day, right around $36. All right, so let's go back to the VANA model now. All right, high for the day. Right around $76. Low for the day, $36. So as price was falling, Market Maker's Delta Notional was increasing. And in that case, they have to sell ES futures to hedge their delta exposure. Now as price is starting to move higher, Market Maker's can buy back their short futures. So in this portion of the VANA model, they are trading with price to hedge their delta exposure. And that's typical of a more negative gamma environment. Right, so it always pays to not only look at the numbers, but the VANA model as well to give a sense of how Market Maker's may be reacting to changes in price and implied volatility. Let's take a look at a VIX chart. So this morning as price was falling, VIX was increasing. That's why we look at the purple curve on the VANA model. And now VIX is finally starting to drop. Price increasing, finding support around the lower day they expect to move. VIX falling and Market Maker's can buy back their short futures. Let's go back to ES. All right, Sheena asks, kindly show NDX, put call walls again. Numbers are really tiny. The call wall is not shown on the chart. The, let's just look at the, look at the NASDAQ chart real quick. So there's that 18,000 level, maybe a little bit easier to see on this chart. And again, the call wall is below, so that was not shown on the chart. All right, so let's go back to ES. Now let's move on to execution. All right, so a lot of the thesis today was really based on, my thesis today was based on the reaction to the data at 8.30 AM Eastern Time. So all the positioning in the options market that we were just looking at is based on the closing price overnight data yesterday. So before the data release today, all right. So basically I was looking for lower volatility, more of a training range based on the higher gamma notional, but then the VANA model is showing that as a price is, market makers should be trading in the direction of price. All right, so now let's move on to execution real time data. So again, everything that we've looked at so far other than the book map is based on static data that's updated once a day. That's where those levels come from. Spot gamma takes open-enters data, applies their algorithms to come up with those levels that I show on my charts. All right, so again, let's move on to execution. So we're going to go now to real time data. Excuse me, I don't think my mute button is working for my microphone. I hope that, I just have to cough a little bit. All right, sorry about that. All right, so we're going to move on to execution now. So I'm going to first look at what options traders are doing. This is the hero chart in spot gamma. This is available to spot gamma subscribers. This chart is for the ESP500. What it's showing is a combined signal of options trades and market maker hedging activity. Again, for a combined signal of SPX, SPI, XSP, and ES futures. All on the one combined signal. The white line is showing price for SPX. And the purple line is showing the hero signal. Again, that's hedging impact real time options, H-I-R-O, real time data. A falling hero line indicates traders are taking negative delta positions. They are buying puts and or selling calls. Market makers take the opposite side of those trades and they have to sell futures to hedge their delta exposure. All right, let's zoom in on this chart. So I'm going to focus on the morning session here. And note just a few minutes, maybe two or three minutes, after the cash open, the hero signal shifts lower. During this time, SPX puts a little bit of time on the trading side of the chart. And the trading side of the chart is showing the hero signal shift. And the trading side of the chart is showing the hero signal shift. During this time, SPX made a little bit of a higher high, leveled off, then started move lower. So a little bit of a leading indicator, divergent signal by hero there. All right, so let's go and look at the setup in book map. Back to ES, let's zoom in. All right, so taking a look at order flow here. And I look at any spot gamma level as potential resistance when tested for below or potential support when tested from above. The volume dots in book map here, let me adjust this chart just a little bit. I'm going to tone down the heat map just a little bit. Bump up the volume dots. The volume dots are showing market buy minus sell. Green dots indicate more buyers than sellers. Magenta dots indicate more sellers than buyers. So just a few minutes after the cash open, aggressive buyers move up to the 517 level, then aggressive sellers start to come in as traders are taking negative delta positions and then price moves lower. You can see all the aggressive sellers on the way down. That's shown by the falling magenta line there in the sub chart, that's cumulative volume delta. Also, as price starts to move lower, the yellow line is showing stop orders. Those are sell stop orders. They help to fuel the move lower. Little bit consolidation at the 514 volatility trigger and then finally ES breaks below the lower day they expect to move for ES. Hello, Steven, welcome. Glad you're here. Yeah, a lot of competition at one o'clock today. The futures presentation, there's another options presentation, also a spot gamma at 1 p.m. So a lot of competition today. All right, so it looks like those webinars are all, they've all wrapped up at 2 p.m. So thanks for joining me. Marcelli Lowe's ask, is it more the dots show orders on the bid versus orders on the ask that we do not know if it is open or closed? What we know is those are market orders and the volume dots are showing market buy minus sell. A green dot indicates they're more buyers than sellers, more market buy orders than market sell orders and just the opposite for the magenta dots. All right, so if you want more detail on that, I suggest attending Bruce's webinar tomorrow morning at 10 a.m. and ask him about that. He may be able to give you more detail. All right, so that is the S&P 500. Short set up this morning, just after the open is traders who are taking negative delta positions, setting up a nice divergent short. All right, let's move on to NASDAQ now. Put a NASDAQ, go back to hero. All right, so for the NASDAQ, I like to look at this signal. This is the mag seven signal. Let me show you what this is. This is another combined signal, showing options trades and market maker hedging activity. For the stocks known as the Magnificent Seven, Apple, Amazon, Google, Meta, Microsoft, Nvidia, Tesla. These stocks make a very large component of the NASDAQ 100. That's why I like to watch this signal and they often drive price. All right, so let's go zoom in again. We'll take a look at the signal of the morning and one thing I wanna do, I'm gonna separate out, put some calls here to give us a little bit more clarity. And actually let's do that for, I'm gonna jump to the S&P 500 to show you what was going on in the morning, the S&P 500. I do this to provide a little bit more clarity. The blue line is showing puts. Falling blue line indicates traders are buying lying put, buying puts. When traders buy puts, market maker sell the puts and they have to sell futures to hedge their dealt exposure. Orange line is showing calls, so they were buying calls, but the put buyers were more aggressive and price moves lower. All right, Antonio says, please make live trading stream. Looking at past is not beautiful. We want to learn how to execute live using Spot Gamma and Bookmap. I'll do that at the end of my presentation. I did that yesterday, I put on a trade in Netflix. I'll do this today, but I'm not gonna watch and trade live all this time. My purpose is to teach others how to use Bookmap and Spot Gamma to plan and execute trades. So I just can't watch. I don't think it would be interesting to watch me try and find live trades all day. All right, so this is normally how I present, review and then get to the live market. And also at this time of day, the best trades, I typically trade in the morning from 9.30 to 12. Typically that's the best time for intraday trading and that's when I trade and then I'm reviewing trades and then I will get to the live market. All right, so that's the S-Spade 500. Let's go back to mag seven. Zoom in. All right, so for the mag seven, traders started selling calls before 9.40, shown by the falling orange line. Then just a few minutes later, they started buying puts. Both the blue line and orange line moving in the same direction. That's a very powerful directional signal and price moves lower. All right, let's go back to NASDAQ. Zoom in. All right, so here's the short set up at NDX 150, NQ 400, and QQQ 442. Price breaks below VWAP, that's just like blue line. You can see the aggressive seller starting to come in. Cumulative volume delta shown by the dark blue line that shifts to magenta. Also sell stop orders fuel to move lower. All right, so, excuse me. Traders take negative delta positions in the mag seven stocks, and price starts to move lower in just a second. All right, in Discord, can you hear me? I think I've, seems like I may have lost the stream. Steven, WRB, can you hear me in Discord? For some reason, I'm not seeing it in Discord. All right, uncle, thank you. Oh, here it is, all right. All right, so that's the short set up in NASDAQ. All right, let's move on, take a look at some stocks. And first of all, let's move on to the stock of the day, which is NVIDIA. Drag asks, can you speak about the trades that you took if you would like to share why you took the trades? All right, I did trade NVIDIA short today. NVIDIA short today. I'm not going to share my specific trades. It was a little bit difficult to trade today. NVIDIA is a $900 stock. It moves quite a bit. I would take a short, get profit on my first take profit order, move my stop order down to break even and get stopped out. But this is, again, the trade of the day. Note that 900 is the call wall, key gamma strike. 875 is the hedge wall and 870 is the put wall. So NVIDIA moved all the way down from the call wall right after the cash opened down to the put wall. It took a while, took a little over two hours, but finally got down to the put wall, 30 point trade. All right, let's take a look at HERO and see what options traders are doing. All right, so let's go to NVIDIA. Let's zoom in a bit. All right, so it's call sellers that were really driving NVIDIA. Note the alert that came in just a few minutes after the cash opened. Price moved up above the call wall, key gamma strike at 900. Traders started selling calls, shown by the falling orange line and price moved lower. All right, so that is the short in NVIDIA. There were a number of entry points for shorts. If you missed the first, they're at the 885 level. VWAP, multiple short entries again at 885, 880. 880. Then a sharp breakdown down below the 870 put wall. All right, kind of tax says hello, hello, welcome, glad you're here. I'm trying to scout based on the HERO signal this afternoon, a lot of fun and saying, HERO gives a great signal. And I tend to look at the trend, the overall trend of HERO, and then I look at book map for entry points. Let's go back to HERO. So now, so up until about one o'clock, HERO is trending lower. I've got puts and calls separated out. Traders are buying puts. They've started to take the foot off the gas, also selling calls, now also taking the foot off the gas and price is moving higher. So they shifted from call sellers to call buyers and put buyers to put sellers right around 120. And price is moving higher. All right, so that's NVIDIA. Let's take a look at AMD. AMD kind of up and down today. Let's zoom in on the morning. So AMD, there was a short this morning, right around 940. Traders started selling calls and buying puts. Then a few minutes later, they started buying calls and selling puts. Price started to move higher. So a short, a long, then right around 1050, the call buyers take their foot off the gas, put sellers take their foot off the gas and NVIDIA reverses lower. I mean, I'm sorry, AMD. All right, so let's go back to book map. Looks like I need to have more lines to my chart here. So we're overall bearish for today, for the day. Short from 196, there's the long as traders started buying calls and selling puts and then they took the foot off the gas. Now AMD is moving lower. Let's go back to, go back to hero, zoom out. All right, so AMD continues to move lower. Oops. Now hero reversing higher, maybe AMD might start to move higher. All right, the next Microsoft. Microsoft was bullish in the morning. Traders were buying calls, selling puts, orange line, blue line moving in the same direction, bullish. Call buyers shifted to call sellers pretty abruptly and price moved lower. I did take that short. Not a big move, but pretty obvious signal there. Let's go take a look at Microsoft and book map. All right, so again, remember the call buyers become call sellers, trend break, and Microsoft moves down to VWAP. So good for a couple of points there in Microsoft as the call buyers became call sellers. And thank you, Stephen, for helping out on YouTube. I appreciate it. All right, the next Tesla, bearish day in Tesla. Let's see what options traders are doing. Let's go to Tesla. Let's switch to the total signal here. Go to total, I'm gonna have to jump and jump back. All right, so for Tesla, the most clear signal was right in the morning. Reversal at the 170 level. That's the put wall, key gamma strike and hedge wall on the one combined level. Initially, for just the first three or four minutes, traders take a positive delta positions. Then hero shifts down and Tesla reverses. Let's do this. All right, Tesla reverses at the 170 level. That level, the put wall, hedge wall. What was that, hedge wall, put wall, key gamma strike? Let's see. Yeah, I think that's it. All right, kite attack, way to go. 80% win rate on NASDAQ. All right, so those are the setups that I wanted to talk about. Does anyone have any stocks they want me to take a look at? Let's check on the SB500. Looks like finding a little bit of a resistance at VWAP in the 515 level. Aggressive seller starting to come in. You can see all the green magenta volume dots. Let's check on NASDAQ. Trading around the QQQ 440 level. All right, let's go to hero. All right, so what I did yesterday is I showed an example trade in Netflix. Netflix was not very liquid. I actually removed that from my watch list. I removed it from bookpath. It was difficult to trade. But what I did, I looked at these alerts. And the freshest alert was from Netflix yesterday. The hero signal was rising. I looked at bookmap, CVD was rising. There were a lot of green volume dots. So I took a long entry. I showed how to do that in bookmap. I double clicked twice, so I took two longs. I moved my take profit orders. I was filled on the first take profit order. I moved my stop up to break even. And this was a demo trade. This was in a sample trading account, a demo trading account, not live trading. I'm not going to do live trading at real account. And so after taking profit, I moved my stop up to break even, and then I was stopped out. And of course, a stop order is typically a market order and did not get a very good fill on that stop order for Netflix. All right, so this is the most recent flow alert for Tesla. So it looks like the hero signal is trending higher. So let's go take a look at Tesla and see if there's anything there. Go back to bookmap, go back to Tesla. All right, so hero signal is rising. CVD is still falling. There are a lot of aggressive sellers here. Vigenta volume dots. So I don't see anything here. I would not take a, I do not see a long enter here. Interag, hello, welcome. Ask, why would you not use the put and call separate signals all the time versus the combination that you use? I switch back and forth. So for example, let's go back to the hero signal for Tesla. So we can look at this. I think it may be simpler for my audience to see the total signal, but we can look at this. All right, so this is showing that traders are not doing much with puts. Put line is flat. They have been buying calls. But in the five minutes remaining that I have now, I don't see any long entry in Tesla. So that is the most recent. That's the freshest flow alert. Take a look at Microsoft. Flow alert came in about a half an hour ago. Microsoft has already made a move higher. Let's take a look at Nvidia. Let's zoom in on this. So no alerts, but traders are selling puts. They have been buying calls. Let's take a look at BookMap. All right, so I did switch over to my demo account. This was a trade that I took earlier in my demo account. That's a sell at 880. So you can see what I did. Took profit there, moved my stock to actually just above break even a little bit above 880. They came out and took out my demo simulated stop order, then moved down to my final target and then on down to the next target below. So that's what I was talking about earlier. Taking, moving my stop to break even in this case, it was a big profit killer. So let's go back and take a look at Hero. Let's switch to the total signal. I'm gonna have to jump to avoid auto zoom. All right, so it looks like this set up a good long, good longs from right around 120 to 210, something like that. Now the hero signal is shifting lower. So the question is, well, is this just a lower high on the hero signal? Let's go back and take a look. All right, so the long entries, most recent long entries at 880 long. So that's typically where I like to trade NVIDIA at these zeros and fives, short, long. All right, so Antonio, if you're still here, this is typically where I would show live trading in a demo account and a simulated trading account. Let's go back and take a look at Hero. All right, so it looks like Hero may be shifting higher. All right, I'm gonna wrap it up, my time is up. So again, there were a couple of long entries here, then maybe another long. We can try this here. So I picked 50 shares, zoom in a bit. All right, CBD is pretty flat, still kind of falling. I would be, I really wouldn't take this as a live trade, but this is, we'll see if this gets filled. All right, so a double click there. Let's go back and check the Hero signal. All right, so this is not a trade recommendation. Looks like the Hero signal may be rolling over. All right, so I will give it maybe two more minutes, one more minute back to check Hero. Just a reminder, when I'm trading, and I don't like how the Hero signal is turning down there, I'm gonna cancel. All right, everyone, I wanna thank you for watching. Thank you very much for your questions and comments. Remember, tomorrow is options expiration. For SPX, there are two settlements, the AM settlement and the PM settlement. So part of that gamma, that all those calls that I was talking about for SPX, part of those will expire tomorrow morning at the open. That's based on the opening print of all the stocks in the SP500. There's also a PM settlement for SPX and then SPI and QQQ. All right, so again, remember, tomorrow is options expiration and we'll talk about it tomorrow afternoon. Thanks again, thanks for your questions and comments. Have a great afternoon and I will see you tomorrow. Bye.