 So the put wall down now at 5,000. That's also the absolute gamma strike That's a strike with largest absolute positive and negative gamma down now at 5,000 That's also in the next level up is the volatility trigger absolute positive. That's the VT there now at 5,000 at 51 45 Then a spot gammas proprietary volatility flip a little below that level market makers position on the game curve is negative and A negative gamma environment market makers have to trade With price to hedge their delta exposure That tends to enhance or increase volatility and note that SPX did trade below that level earlier today now trading above So above that level market makers position on the gamma curve is positive and a positive gamma environment Market makers have to trade against price to hedge their delta exposure. That tends to subdue or decrease volatility All right, then finally The call wall Is up at 5,200 that's a strike where the largest net positive gamma that can be expected to active resistance and that Level has been the call wall for quite some time So that's the potential ceiling for price 5,200 Potential floor at 5,000 all right. Let's wrap up our view of Oh, uh, let me uh mention again the shifts and levels put wall shifted lower Down to 5,000 and the volatility trigger did shift higher slightly from 51 30 yesterday up to 51 45 All right, so minor shifts in the volatility trigger and a shift lower in the put wall For spx Let's wrap up our view of spx with A view of today So spx gap down today this From here over is the regular trading hours This is that shaded rectangle that I drew on the larger time frame chart spx gap down and as now continuing to make a series of higher lows trading above the volatility trigger at 51 45 All right, let's go take a look at book map now In book map. I have my own cloud notes So I can show spx levels. There's the 51 45 volatility trigger Though there's a difference in price between es and spx And I have it currently at 63 points So for example, I'm showing the 51 50 level at es 52 13 so that's spx 51 50 at es 52 13 and I also post those Index relationships that I'm using every day In discord I post the preliminary numbers around 9 a.m. And the final numbers around 10 a.m Also have spy levels on this chart. Here's the spy absolute gamma strike At 515. That's also the zero gamma level Maybe acting as resistance So spy levels spx levels all on the same chart as well as key es levels. There's the 5200 level All right for spy There was a bullish hat trick today The volatility trigger put wall and absolute gamma strike all shifted higher. So a bullish hat trick for spy And based on that my thesis for today for the sp500 was bullish call wall remains at 520 All right, so for the sp500 there's still room to run higher Based on the higher call walls for the spx and spy All right, let's move on to nasdaq and a bullish day for nasdaq as well This is the nq futures and book map And I do want to take a look at the underlying index charts Before we take a closer closer look at this chart first of all i'm going to go to qqq Low for the day for qqq right around this 433 0.53 combo one level But that's a c3 level combo three level acting as support Don't that 435 That's a large gamma three level That was noted as support in the spot game. I am founder's note So qqq trending up And for qqq there was a bullish hat trick as well So the volatility trigger put wall and absolute gamma strike all shifted higher Just like the just like spy And the call wall remains at 450 so plenty of room to run higher for the qqq the nasdaq Let's take a quick look at ndx Then we'll get back to nq ndx Gap down Now trending higher above the 17900 Level that is the call wall and absolute gamma strike And note also that level did act as resistance earlier today And now support then support Resistance then support Let's go to book map All right, so there's that level dndx level That it acted as resistance Wrong tool acted as resistance that support And here's this qqq 433 53 level c3 level That acted as support And that's just above the nq 18050 level also the lower day they expected move Up above Here's the nq. I mean qqq 440 absolute gamma strike volatility trigger And again remember the call walls way up at 450 all right, so there was a bullish hat trick For nasdaq volatility trigger put wall and absolute gamma strike for qqq all shifted higher so my thesis for The nasdaq was bullish as well. All right, let's wrap up position analysis by taking a look at gamma notional This is market makers position on the gamma curve the beginning of the day focusing on The sv 500 and asdaq But yesterday for sbx gamma notional was slightly negative slightly positive today And for spy gamma notional did shift slightly lower so still negative for today So again on a positive gamma environment for an index spot gamma assumes that Traders are short calls market makers are long calls since the positive gamma They have to trade against price to hedge their dealt exposure And for a negative gamma environment Spot gamma assumes that traders are long puts market makers are short puts into the negative gamma They have to trade with price to hedge their dealt exposure So at the beginning the gay gamma notional for spy and qqq was negative If for qqq A slightly less negative than yesterday All right. I want to take a look at one last thing This is the sp spx vana model what this chart is showing and i'll Uh, we'll see why i'm showing this chart in just a moment All right, so what this chart is showing is market makers delta notional on the vertical axis And the spot price for spx on the horizontal axis There are two curves on this chart The light gray curve shows how market makers delta notional may change with changes in price only And the purple curve adds implied volatility to the equation that shows how market makers Delta notional may change with changes in price and implied volatility That's the curve that we want to take a look at All right, so note the low of the day for spx was right around 51 32 So that's right around here where i'm holding my My curse of this vertical line right around there So that was the low of day price has been increasing Market makers delta notional has been decreasing And they can buy back their short hedges So that's a put vana rally. That's indicating there's put vana fuel in the tank for a rally That was helping to fuel this rally this morning. This put vana fuel in the tank Let's take a look at vex Take a look at a one-day chart for vex So earlier today Vix was dropping so price increasing And implied volatility dropping Market makers can buy back their short futures. It looks like vix has found a bottom Somewhere between 14 and 14.1 At least so far today All right, so that's the vana model indicating there was put vana fuel in the tank for a rally today And that is helping to fuel the rally higher All right, so that is my Positional in that Sorry, that's my positional analysis for today Again bullish for the sp500 and nasdaq based on the bullish hat tricks for spy and kukuku All right, let's move on to Setups now So i'm going to move on to execution So everything that we've looked at so far other than Bookmap is based on static data Again spot gamma takes Open interest data that's updated once a day they apply their algorithms to come up with the levels that we were looking at And now let's again, let's move on to execution real time Let's see what traders are doing first of all. I want to start with what options traders are doing today I'm going to start with the sp500 So this is the hero chart hedging impact real-time options h i ro This is available to spot gamma subscribers And this what this chart is showing is options trades And market maker hedging activity Or a combined signal For the spx spy xsp and es futures The white line is priced for spx And the purple line is the hero signal Again, that's hedging impact real-time options When the hero line is rising that shows that traders are taking positive delta positions They are buying calls and or selling puts Market makers take the opposite side of those trades and they have to My futures to hedge their delta exposure And when that hero signal is falling That indicates traders are taking negative delta positions They're 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, so that's the combined signal and that is What I look at for trading any form the sp500 All right, I'm zooming in on this chart. I want to focus on a long setup this morning So I'm going to take note of a couple things here. First of all, let's flow the art That indicates significant options activity And for the sp500 these flow alerts are often a mean reverting signal So my first thought when I see this signal In the sp500 is to look for a reversal So just a few minutes later the hero signal starts to rise. There's another hero signal More of a confirmation signal Consolidation then the hero signal starts to rise again. All right, so let's go take a look at book map what I'm looking at is this 10 30 long setup 10 30 reversal Let's go to book map Come back to the sp500 We zoom in on this All right, this is es futures in book man First of all the volume dots are showing market buy minus sell Magenta dots indicate more sellers than buyers Green volume dots indicate more buyers than sellers So it took a while for the sp500 to get going And this is right around 10 30 ES makes a little bit of a higher low Looks like sellers are exhausted there that very small Magenta volume dot aggressive buyers start to come in cumulative volume delta starts to rise that's shown by the dark blue line And price starts to move higher remember options traders took their foot off the gas And then they start up again about 11 20 aggressive buyers start to come in And price moves above the 51 45 volatility trigger And notice price starts to move higher Buy stop orders that's shown by the yellow line on the sub chart As well as the on chart indicators Feel the move higher More consolidation around the 51 50 level and the 513 spy volatility trigger Right around 1215 ES Starts to move higher again Let's go back and take a look at a hero All right, so there's that move Up move Consolidation Up move consolidation Then up move again And then reversal right around 1250 or 1245 All right, nice long setup In the sp500 this morning All right, so it looks like this 515 level that I mentioned earlier Is so far acting as resistance And this is about the time That the hero signal started to reverse lower remember that was right around 1245 The hero signal reversed lower All right, let's take a look at all right. Let's take a look at Take a look at nasdaq now All right, so again, this is the nq features of book map And I thought the order flow was a little bit easier read today in the nasdaq Let's take a look at heroes see what options traders are doing first If the nasdaq I like to take a look at This mag 7 signal So this is another combined signal Showing options trades and market maker hedging hedging activity For a combined signal for the stocks known as the magnificent seven. That's apple amazon Google google meta microsoft nvidian tesla point. Let's zoom back in on this chart Here in this case of the mag 7 signal it reverses Higher earlier in the day Right around 945 950 traders start taking positive delta positions In the mag 7 stocks All right, and a rag ask can we see calls and puts separately for the sp500? Let me just say that I'm Presenting here. I'm trying to show the most clear signal Yes, separating the outputs and calls can give some additional clarity and nuance I thought the For the sp500 the total signal was was clear. This is the default What I typically use I will get to that In just a minute And I will certainly take a look at calls and puts for individual stocks All right, so this is the mag 7 signal And we can we can separate outputs and calls so traders are selling puts and buying calls puts shown by the blue line Calls shown by the orange line. All right, so we know it The mag 7's hero signal reverses higher right around 950 Let's go take a look. So that's why I don't like to do that Because of that auto zoom bug All right, so let's go take a look at nasdaq The zoom in right so in the case of nasdaq Remember traders started taking positive delta positions in the mag 7 stocks right around 945 950 aggressive sellers on the way down to this qqq combo 3 level Aggressive buyers start to come in I'll also note the rising light blue line showing that traders were buying with ice for orders large traders use ice for orders to hide their size And nasdaq continues to make a series of higher lows And yeah, and a rank. Yeah, I don't mean to uh To be mean or anything. Uh, yeah, that is a powerful directional signal And uh, we'll we'll get to that. Yeah, we'll take a look at it So thanks for pointing that out again. I'll get to that. All right, so nasdaq Continues to move higher some consolidation Around the ndx 18000 level. All right, so let's go back Go back to hero and as Anirag points out When the orange line a blue line are moving the same direction. That's a very powerful directional indicator And note for so this is back. I'm back to the sp 500. So it's really call buyers that are driving price The sp 500 show mother rising orange line traders buy calls market makers sell the calls They have to buy futures to hitch their delta exposure And the call line was pretty steadily rising up until about 1245 Call buyers took their foot off the gas And price consolidated Right, so they're uh, anirag. So in the case of the sp 500, it's primarily call buyers Uh that have been driving price In the mag 7 Put sellers that show them by the rising blue line And call buyers Both moving in the same direction again as you point out very powerful directional set signal powerful directional indicator Let's take a look at some stocks First call. I want to take a look at apple Apple call buyers driving price higher that's shown by the rising orange line flow alert Orange line shifts up Traders buying calls market makers sell the calls. They have to buy stock to hitch their delta exposure Call buyers take their foot off the gas for quite a while Then about just after 1 p.m. They start buying calls again So in the case of apple call buyers also driving price Let's go take a look at book map apple reversal higher Absorption at the 173 level Humulative volume delta shifts positive as traders are buying calls market makers sell the calls And buy stock to hitch their delta exposure Next stock amd Barish in the morning Let's take a look at heroes see what options traders are doing go to amd So in the morning traders were selling calls Note that 185 is the put wall Trader selling calls market makers buy the calls They have to sell stock to hitch their delta exposure Start buying calls And price starts to move higher Note of another another flow alert A lot of these flow alerts come in near the open That's something that I watch for every day these alerts to get my attention For instruments to trade Next amazon Bullish day in amazon Not a lot of range of movement Let's go take a look at Heroes see what options traders are doing So they're buying calls today and they're selling puts also Buying calls to them by the rising orange line 175 is the key gamma strike They've also been selling puts Call buyers Finally taking their foot off the gas Right around 1 p.m Now amazon starting to move lower Remember 175 is the key gamma strike So amazon Uh still trading above that level All right, the next is microsoft Also bullish today Very typical trend a pattern up lunchtime consolidation then reversal Of the of the trend starting to move lower. Let's see what options traders are doing Go to microsoft So microsoft in the morning Traders were selling puts Also buying calls Note the uh another flow alert there Call buyers take their foot off the gas they start buying calls again Price moves higher Orange line blue line moving in the same direction Take their foot off the gas just after 11 a.m So now the puts sellers have not done much of anything Same with calls Then some large block order orders came in Uh right around 115 These are large block orders institutional orders to sell calls Show them by the vertical lines there Helping to move Microsoft lower So when traders sell calls market makers buy the calls They have to sell stock to adjust their delta exposure All right anorang asks um Do you have any opinion on competitors of spot gamma? They're a lot cheaper um Sorry, I I have not tried any other competitors of spot gamma. I think Spot gamma is definitely a leader in this in this space Of showing how options trades And market maker hedging activity or driving price action So i've used spot gamma for Probably about four years now All right, so liz asked hello. Welcome glad you're here. What software is that you're using? All right, so this is let me go to First of all, this is book map. So again, this is book map You can get more information at book map dot com And then this is part of spot gamma Spot gamma is a subscription service provides a variety of subscription levels and information And this is the real-time data All right, liz uh says the one with the white With the blue line and white that is this is spot gamma. So again, the blue line is Showing what traders are doing with puts the direction of these lines are in terms of delta So a rising line indicates traders are taking positive delta positions So blue line that would be selling puts that's positive delta and buying calls. That's also positive delta Let's take a look at tesla bullish day here in tesla reversal At the 187 50 hedge wall right around 950 Traders start selling puts and buying calls And tesla reverses higher note the floor dirt that came in a few minutes before that reversal higher Foot sellers have taken their foot off the gas And somewhat taken their foot off the gas certainly be the slope of the line for the calls has slowed down And thank you, steven for your help in youtube All right, let's go take a look at book map take a look at tesla back to hero So again 167 50 Hedge wall reversal higher There's that hedge wall Tesla starts to make higher lows Takes a while for some aggressive buyers to start to come in Note the options trades really driving price for tesla today. There are some aggressive sellers, but Traders taking positive delta positions Market makers take the opposite side. They're buying Tesla stock edge their delta exposure. That's what's really driving price for tesla today And then let's take a look at nvidia Pretty choppy action for nvidia In the morning Really doesn't nvidia really did not get going until afternoon Maybe after the european close Final pullback 865 We'll take a look and see what options traders have been doing in just a minute Note the high liquidity at the 850 level This is the heat map and book map. This shows a history of the limit orders in book map And the darker the shading That indicates there are more orders. That's orders at that level Note they came in at the cash open. Those are limit buy orders to buy at 850 There's absorption at that level not all those Orders were consumed. In fact, it looks like not they were not consumed. So that's absorption And nvidia starts to make higher lows Let's see what options traders have been doing today. Let's go back to book map I mean hero Go to nvidia. Note the rising purple line. They've been selling puts all day Call line was pretty flat Excuse me call line was pretty flat up until about 1215 Then they start aggressively buying calls Price continues to move higher Let's take a look at one other thing for nvidia here See if there were any shifts and levels overnight for nvidia All right. So here's nvidia. Let's take a look at the District All right. So this is a nice new feature in in equity hops. So this is another part of spot gamma This green and red color coding The call wall moved up to 1,000 from 900 yesterday to 1,000. That's bullish Football moved down to 800 somewhat bearish So kind of a mixed picture, but I Uh in this market, I'm really focused more on call walls than foot walls So room to run for nvidia up to 1,000 now the call wall at 1,000 raining days wants to take a look at Once the lake take a look at coin. All right, we can do that. So I don't have coin and book map So let's take a look in hero hero to coin But for day trading I found that the bid ask spread is just too wide and coin right so Initially you have moved down coin this morning 1030 reversal They put buyers and call sellers take their foot off the gas They start selling puts Then just a few minutes after 11. They start aggressively buying calls So by 1115 1130 Call line blue line moving in the same direction Coin moving higher Asked while trading mag 7 would you have therapy ratio fundamentals in mind by any chance? No No, I don't So that that's not something I look at I'm looking at From day to day what I'm looking at is this information right here How these levels are shifting so I'm just focusing on intraday trading So if I were investing In uh and one of these stocks, yeah, I would look at the fundamentals But in that case I do not in this case for day trading. I do not I'm looking at how these levels are shifting from day to day I talk about the levels for the sp500 and naztac in detail arising Call wall for example indicates that traders are looking for Accepting and positioning themselves for a A move higher in price Dell Rainy day's coin is definitely available in book map. You can look at any stock and book map. I choose not to I have a I can't I'm not going to load coin now. It takes a while to To load a stock. So I have a set Uh number of stocks that I look at on book map every day and that is the mag 7 stocks plus amd and es and NQ So that's what I keep in The book map, but if you like to trade coin you can certainly load it in book map Right sd wants to take a look at dell So we can take a look at dell I'm going to shift back to the well better not do that. All right. So traders are buying calls and selling puts and dell Dell moving higher today All right. The reason let me go back to book map Let's go to From the sp500 Could a book map. All right. This is what I this is what I like to trade sp500 naztac And I'm looking at these the futures whether I'm trading futures or spy or qqq and then apple these are the mag 7 stocks Plus amd And here's qqq and spy just to have these for completeness So this is what I have in book map. This is I've I've tried some other stocks recently like arm and and No snowflake I just find that these stocks That I have here in book map Are very consistently driven by options trades and market maker hedging activity Day in day out. I'm going to shift back to the total signal now. Let's go to mag 7 All right, so the signal continues to rise for mag 7 Now close full screen Let's take a look at some alerts All right, so I clicked I'm Check these alerts Here's an alert a flow of art for amd So I click on that I see the flow of art there So I do this especially in the morning when I'm looking for a setup. All right sd Says sorry I missed the first part. This is being recorded You should be able to go back and immediately watch the recording note I did have an issue with the software that I used to stream to you too. So I believe the straw stream traded Started a little bit late So my general overall approach I'm looking at What options traders are doing and So I come up with a thesis that I'm looking at what options traders and Options trades market maker hedging flow and in hero and order flowing book map for setups And certainly you can use book map to trade options. I mentioned that In my Introduction when I talk about setups you can take those any way that you want All right, so the screen right now. This is the Hero signal And this is book map All right, so you can certainly use this for if you're scalping options Interday certainly This would be a great approach everything that I'm doing you can apply that to options as well as As well as stocks or futures so an array As Can you use book map to trade options? No All right, so if you want to trade options you're going to have to trade those separately on a trading platform Your options platform. All right, so I trade stocks and futures And all right, let me talk about trading a little bit All right, sd. Uh, we can take a look at meta Very bullish day in meta and I did trade meta today Here's the meta hero signal reverses higher right around 9 45 10 a.m Traders taking positive delta positions. All right, so let's talk about trading. I bet Uh, don't have any time left, but let me talk about trading. So in in book map It's a visualization platform And you can also use it for trading So let's this actually let's go back to amd So you can trade in book map And you can trade stocks futures and crypto and book map and I don't trade crypto But I do trade I do trade options. I mean stocks and futures I do trade options, but not Not Not here. So again in book map you can trade futures and stocks First of all, you need to have global plus there are two versions of Book map that you can use to visualize Stocks and futures. That's global and global plus unique global plus to be able to trade You also need live data subscribe to live data. I use dx feed for stocks rhythmic data for futures You also need connection to a broker And you can set up a variety of connections here So I have a connection to That looks like my trade of eight connection is gone for some reason. So right now I have a connection to trade station for stocks And then I do have a connection for futures to trade of eight for some reason that has disappeared for my list of connections So right now my trade station is on a demo account I set up I changed it to the demo account simulated account All right, then this is the can trade control panel and In book map you can use to Pick whether you want to trade on the chart dome or both Pick the civil you're going to trade That's amd at trade station pick the number shares you want to trade And a bracket you can set your bracket however you want. All right. Let me do a final check for questions All right, so again You can trade stocks futures and crypto one book map not options All right, sd. I hope I answered any question about meta Very bullish day in meta up to 495 High liquidity As sd points out these levels of high liquidity Oops Often act as magnets for price All right, my time is up. I want to thank everyone for watching. Thank you very much for your questions and comments And remember tomorrow VIX expiration 9 30 a.m. Eastern time and 2 p.m FOMC announcement 2 30 p.m press conference And I will stop whatever I'm doing at 2 p.m And Cover the sv 500 And continue. I start. Sorry. I missed your question ask is the hero signal available pre-market it is for Remember it's showing options trades. So let's go back to the hero signal. So there are only a few number of instruments that trade options before the cash open stocks do not but Let me go back to the Back to my watch list SPX And you can change this to choice extended hours So options trades Options trade before the cash open for es and spx So you can see those on the hero signal. I turn this off that that's typically not significant compared to the Regular trading hours. All right, everyone again, thank you very much for your questions and comments. Thanks for watching Sorry about the technical issues. Hopefully I'll get that worked out and we'll see you tomorrow. Thanks again. Bye