 Hello, everyone. Welcome to Options with Doug, streaming live daily on Bookmap Discord and the Bookmap YouTube channel at 1.30 p.m. 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. Risk disclosure, trading futures, equities, and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. Here's my contact information. If anyone has any questions, especially after the webinar, the best way to contact me is on Discord, and my name on Discord is Doug P. And then there's also a chat channel in Discord, Options-Doug. That's a good place to post questions, comments. I'll talk more about this in just a moment. This Options-Doug chat channel is open and welcome to all who want to post content related to the topics that I'll talk about in just a minute. And I'm also on Twitter or X, as it's known now, at Doug Plus. So these are the best ways to contact me, especially after the webinar, if you have any additional questions, comments. The focus of my presentation is Options, Order Flow, the impact of options markets on stocks and futures, and the influence of market maker hedging flow on price action. So these are the topics that I'm going to be talking about. This is also the focus of the Options-Doug chat channel in Discord. So if you have any questions, comments, content related specifically to these topics, I look forward to your discussion, questions, comments, and Options-Doug. It is open to everyone. I just ask again that you stick to these topics. Anything about Options, Order Flow, impact of options markets on stocks and futures, and market maker hedging flow. And I also ask if this is content that you've created, just please let us know, especially a video or something like that, a YouTube video. So again, Options-Doug open to all. Again, just follow the guidelines, stick to the topics, and let us know where the content comes from, if it is, especially if it is a video. 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 a directional bias. And the second step in my process is execution. And I look at real-time order flow and bookmap, and real-time market maker hedging flow and spot gamma hero to confirm my thesis and for setups for entries and exits. And when I talk about setups today, I will be talking about setups in an underlying asset, and the setups can be taken with a variety of instruments, futures, shares of stock, or options. For example, the S&B 500, you can trade ES futures, spy shares, spy options, or SPX options. My analysis is based on the options market and looking at an underlying asset. Questions and comments are welcome, and I will be watching both the Options-Dog Chat channel and Discord, as well as the chat and YouTube for your questions and comments. Again, if you have questions, comments, after the webinar, please post them either in Discord or Better Yet and Bookmap Discord in the Options-Dog Chat channel. And hello, Noah. Welcome. Glad you're here. All right, my agenda for today. First of all, I want to talk about news items, economic data events, and earnings for this week. Wrap up this week, and then just briefly mention, highlight some events for next week, and I'll talk more about that on Monday. All right, so the next thing that I plan to talk about is positional analysis. I'll go over my positional analysis for today. Then I'll review a few setups from this morning, both ES, NQ, and a few stocks. Then I'll talk about the live market. And, excuse me, 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, news items, of course, today is the Options Expiration Monthly Options Expiration. And let's just take a look at the Expiration Concentration. This is for SPX. And note, for the last few expirations in a positive gamma environment, call dominated environment, the expirations have been dominated by calls, much more call delta notional than put notional delta for market makers. This expiration is a little bit different. This is for SPX showing delta notional with the different expiration dates, and the bar on the left is today's expiration, August 18th. Blue bar showing the put delta notional. Orange bar showing the call delta notional. This is showing more put delta notional than call. So, somewhat of a call dominated expiration. And this was typical last year in a persistently negative gamma environment. And what can happen is these calls expire. So, for SPX, some have already expired. There was an AM settlement, and then there will also be a PM settlement. So, some have already expired, and some will expire at the close today. And when those in this negative gamma put dominated environment, traders are long puts, market makers are short puts, and they, as price decreases, they have to sell futures to hedge their delta exposure. And then when price increases and implied volatility drops or puts expire, their delta notional will decrease, and they can buy back their short futures. And that's a put banner rally. And I'll talk more about that in a few minutes. That was what I was looking for today, and potentially on Monday as well. All right, so that is the expiration concentration for SPX. Let's take a look at SPI, looking at the bar on the left here. And this is more of a neutral expiration, about the same amount of call, maybe slightly more put delta notional than call delta notional. We can just hover over this and see. So, slightly more put delta notional than call delta notional. And then for QQQ, much more put delta notional than call delta notional. So, also a put dominated expiration for QQQ. All right, so that is the expiration for today. Next week, just to highlight a couple of events. Nvidia earnings, I believe on Wednesday, I'll talk more about this on Monday. And then the Jackson Hole Symposium, the annual August meeting of central banks at Jackson Hole on Thursday and Friday. All right, let me get to my positional analysis now. This is the S&P 500 futures in book map. And before I take a closer look at this chart, I want to take a look at a larger time frame. Let's take a look at SPX in a 30 day one hour chart. I'm going to zoom in on this so we can get a little bit closer look at price action. And what that's just showing is this downtrend. Let me zoom back out. Downtrend that began with the Fitch downgrade of US debt has really accelerated down starting about Tuesday this week. Gap down and acceleration down. Let me zoom back in. All right, let me point out some levels on this chart. And I'm going to point out, first of all, the lower and upper weekly expected move shown by the dash purple lines. This is based on the options market. And I set this once a week over the weekend. So SPX is trading well below the lower weekly expected move. And then the dash blue lines are showing the lower and upper daily expected move. And note that SPX did test that level this morning. And it's now trading above the lower daily expected move. Let me point out the key spot gamma daily levels on this chart. These are shown by the red horizontal lines. And first of all, here's the put wall. It's kind of hard to see put wall at 44 43 50. And note that level did move lower from from yesterday. So the put wall at 43 50. That level is the strike with the largest net negative gamma that can be expected to act as support. And it did this morning. And then the next level up is the 4400 level. And that is the, first of all, the volatility trigger that has spot gammas proprietary gamma flip level below that level. Market makers position on the gamma curve is negative. In a negative gamma environment, again, market makers have to trade with price to hedge their delta exposure. Then on the other hand, above that level, market makers position on the gamma curve is positive. In a positive gamma environment, market makers have to trade against price to hedge their delta exposure. And that tends to subdue volatility. And then 4400 is also the absolute gamma strike. That's the strike with the largest absolute negative and positive gamma. And then finally, the call wall remains up at 4600. That's the strike with the largest net positive gamma. And that can be expected to act as resistance. And that is not in play, not in play any time soon. But it has held at 4600 all week. Yeah, it's held at 4600 all week. All right, so those are the expected moves daily and weekly, as well as the key daily levels from spot gamma. Let's take a look at another SPX chart. I'm going to go to a one day chart. Assume it on this. So this is showing, again, a one day chart, the levels that are in play for today. So here's the lower daily expected move. And note that level, SPX gap down below that level, moved up, tested that level, then moved higher. Then note this combo level, the 4340. This was noted as support in the spot gamma AM founders note. That level was in play support in the morning. And then here's the put wall at 4350. So those are the key levels in play for today. All right, let's take a look at book map now. So in book map, I have my own cloud notes. And I'm showing a variety of levels here. First of all, I've got the SPX levels. There's the 4340 350 put wall. And then there's a combo level one just below that combo one level. That is combining SPX and spy gamma into one level combo level is an important level combo one important level. Here's the 4340 that acted support. And then here's the Ford 35 level that has been an important level today acting as resistance. And then support and support again. So 40 spy 435 key pivot level for today. I'll talk more about setups in a few minutes. So those are the levels in play for spy and SPX. And note there is a difference in point point difference between ES and SPX. And right now it's somewhere between 13 and a half and 14. Actually right now right around 14 plus or minus I'm using 14 today. So this SPX 4350 level for example the put wall is shown at ES 4364. Just add 14 points to the SPX level to get the equivalent ES level. And that holds for all of the SPX levels. All right so those are the levels in play for SPX and spy for again the 4340 support level noted as support and the spot gamma am founders note doing its job and acting as support. All right shifts in levels for SPX both the volatility trigger and put wall shifted lower. So that is that is significant especially the put wall moving that potential floor for price down to 4350. That was also noted as support in the spot gamma am founders note. And then for spy the volatility trigger moved higher put wall moved lower and that's significant from 440 yesterday to 430 today. Moving that potential floor for price for spy down and then for spy the call wall actually moved up and I don't consider that significant. So overall slightly bearish shifts lower or bearish shifts lower for the SPX and spy levels. And I think there were other forces in play today I'll talk about my thesis in a few minutes. All right so that's ESB 500. Let's go to NASDAQ now and take a look at the levels and I'm going to go to a QQQ chart. This is QQQ we zoom in to today showing the round number levels and the key daily levels and note the put wall for QQQ at 356 that level did move lower from yesterday moved down from 360 to 356 that's bearish that was the only shift in levels for QQQ and that level has been in play today acting as support and resistance more or less and then note this combo l4 level right around right at 355 that level acted as support more or less and then the 358 level that's not a gamma level not a spot gamma level but that did act as resistance so far today. So pretty choppy day in NASDAQ but generally trending up let's take a look at NDX levels and here is the NDX 14,569 combo l4 level around that level acted as support and then the put wall is up above at 14,700. All right shifts in levels for NASDAQ for NDX with volatility trigger and call wall shifted higher the absolute gamma strike shifted lower to 14,700 that is also the that's the put wall and the absolute gamma strike and then again for QQQ the put wall shifted lower. All right so overall I would say just slightly bearish shifts lower for for the NASDAQ. All right here are the levels again I have my own cloud notes showing QQQ levels and NDX levels there's also a difference point difference between NQ and NDX and that jumps around a fair amount I'm using 52 today so that is 52 plus or minus three or four points. All right levels in play for today again here's the crunch this up just a little bit so we can see the levels at the bottom and the top so here's the 355 level acting as support 358 level acting as resistance and note the point of control shown by this solid purple line is right below the 356 put wall. All right so those are the levels in play for NASDAQ I've talked about shifts and levels I'll talk about I'll talk about setups in a few minutes and VHU good afternoon to you as well glad you're here welcome ask about NVIDIA levels I will talk about NVIDIA when I get to set up review and we'll take a look at levels at that time all right so let's take a look some other information that I use in my positional analysis so the next thing I want to take a look at is gamma notional this is market makers position on the gamma curve at the beginning of the day for SPX spy NDX and QQQ again this is gamma notional at the beginning of the day these numbers are all negative quite negative extremely negative all spy SPX spy and QQQ over 1 billion negative or under as you however you want to look at it so anyway 1.36 billion negative for SPX that did shift lower from yesterday and then for spy this is very negative extremely negative 2.745 billion negative and I that's certainly got to be the lowest number for the gear and certainly lowest number that I recall seeing at quite some time very negative gamma notional for spy and then also gamma negative gamma notional 1.16 billion for QQQ I normally don't pay much attention to NDX it is the numbers insignificant at eight point eight point two nine million compared to 1.16 billion for QQQ all right so these numbers very negative let's take a look at just to illustrate exactly what this means let's take a look at the Vana model and I'm going to take a look start with let's go to SPX first and this gives us an idea of the potential potential fuel for rally how market makers positioned and how they may react to changes in price and applied volatility based on changes to their delta notional so this chart is showing delta notional on the vertical axis this is market makers position and how that changes with price shown on the horizontal axis there are two curves on this chart the first light gray curve is showing how market makers delta notional will change change with changes in price only and then the purple curve adds implied volatility to the equation showing how market makers delta notional will change with changes in price and implied volatility and that change in delta notional with a change in implied volatility is the Vana effect and Vana is a second order Greek so what this chart is showing is as price decreases and applied volatility increases market makers delta notional increase and remember they want to remain delta neutral so they'll have to sell futures and this works both ways as price increases and applied volatility drops they can buy back their short futures and that is I look at that as potential fuel for a rally a move higher again looking for price to move higher implied volatility to start to drop and again that potential fuel is there for a put Vanna rally all right so let's take a look this is spx we know that spx traded down around 4340 the level right there that was the support level noted again in the spot gamma am founders note definitely on the left portion of this curve the steep portion to the left typical of the negative gamma environment so what this is showing is as price increases and applied volatility drops market makers can buy back short futures that's that potential put Vanna fuel that can fuel a move higher all right so let's take a look at take a quick look at spy very similar curve to spy spy the low of the day was around 433 very you know firmly in the left skew the negative gamma portion of this curve indicating again as price increases implied volatility drops market makers can buy back short futures and for spy and spx options trades they market makers trade hedge with es futures and for qqq they hedge within q futures so for qqq the low of the day was around 355 right there and Truman asked when you see the word notional after a key level like delta notional and gamma does that always mean market makers exposure for them and dollar amounts i believe that is is the case so let's just zoom in on this chart this may be very difficult to see especially in youtube but there is a dollar sign and sorry i obscured that dollar signs in front of these numbers so yes Truman i think that is the case all right so we know that there's the uh put Vanna potential fuel for a move higher and that was really the basis for my thesis today which was cautiously bullish looking for a put Vanna rally so that was my thesis for the day based on this extreme uh negative gamma notional for spx spy qqq puts expiring today potentially being rolled lower but puts for today definitely there's some expiring market makers can buy back short futures all right so let's take a look and talk about setups now and i'm going to take a look at ASP 500 first and before i do that i'm going to take a look at see what options traders were doing today and that had some impact on price today but again my thesis was primarily based on the uh the Vanna put Vanna rally potential put Vanna rally so this chart is showing price for spx and the hero signal hi ro hedging impact real-time options this is from spot gamma and this is showing a combined signal for multiple components of the sb 500 spx spy xsp and es futures so this is showing options trades and market maker hedging activity for all of these different instruments combined again into one signal i'm going to zoom in on this chart so if you trade any form of the sb 500 this is really what you want to take a look at all right so this chart is showing initially this is the zoom in on this just a little bit here so this chart is showing the cash open here so of course spx and es options trade before the cash open then spy options join at 9 30 a.m eastern time and just a couple of minutes after the cash open options traders started taking negative delta positions and then they stopped and started to take positive delta positions and it took a few minutes but price started to follow higher so let's go take a look at book map go back to es let me zoom in on this morning move all right this is the this is the move that i was looking for right here all right so we know around this time traders stopped taking negative delta positions they started taking positive delta positions and note the shift in order flow shown by cumulative volume delta that really starts increasing just after 10 a.m that's shown by this pink line here and then price starts to make a series of higher highs you can see the liquidity that comes into the order book these are limit buy orders and i think that helps to fuel a move higher so again that was the move that i was looking for this morning and let's take a look at vixx and see what was happening at that same time you zoom out just a little bit here for vixx take a look at the entire day so we know that was around uh 10 15 10 30 that the es started to move higher so here's vixx around that time making a series of lower highs and finally breaks out of this wedge pattern right around uh looks like around 10 40 something like that so we know that price was increasing implied volatility dropping and think about that vana curve market makes us delta notional is decreasing and they can buy back their short futures those puts are losing value they're expiring coming close to expiration so there's the charm effect also charm is the change in delta notional as time passes and charm is in effect again on expiration day all right so there's vixx so we know that options traders started stop taking negative delta positions started taking positive delta positions vixx was dropping an aggressive buyer started to come in first of all close to but not quite a retest of this 4340 support level acted more or less as support right at the cash open price went down retested it aggressive buyers come in also passive buyers limit sell orders or buy orders and then aggressive buyers price makes a higher low low and continues higher making a series of higher lows so again this is exactly what I was looking for this morning and note the liquidity that comes in right around right around noon at 43 let's say 4386 4387 right here and this seems to have those are limit sell orders seem to have helped stop the move higher right Truman says my hero shows a lot of chop after 10 a.m. on so be 500 how did you see them taking positive positions on hero right so let's go back to that and I will when we get to nasdaq we'll see that that was a lot hero for nasdaq was a much easier read today and it was definitely choppy today and that was not it was a factor in in my setup but not not the key factor really so hero making a series of higher highs higher lows is what I saw there not as clean as many stocks and as nasdaq today as we'll see in just a moment but still generally overall moving higher so maybe if you could place a moving average on this it would be it would be trending higher so again not not necessarily an easy read but you know definitely a factor and you know one other way of looking at this is you know they definitely stopped taking negative delta positions so at best you could say that hero just leveled off and Truman I believe I saw a question from you and discord yesterday I you must have deleted it but I generally look at the entire signal for S&P 500 so Truman I don't know what are you looking at the combined signal for S&P 500 this is what I look at so back to your question from yesterday this is the combined signal for S&P X spy XSP and these futures and I like to look at the combined signal you know on any given day maybe ES or S&P X or spy might have a stronger influence on on the S&P 500 but overall from day to day I prefer to look at this signal this is this is all the instruments that have an impact on order flow and price action in the S&P 500 all right let's get on to NASDAQ now so like I said I'm much easier read for for NASDAQ here options traders taking this is a combined signal for NDX and QQQ so Truman says yes so try looking at the combined signal and see if that that should look exactly like mine you you would be looking at the same thing so this is a combined signal for NDX and QQQ traders taking positive delta positions from the open hero continues to trend higher all day so traders are buying calls they're also selling puts call buyers definitely in charge especially starting around 1130 note the this is pretty large for the NASDAQ 2.7 billion notional value for calls traders buying calls and note this level this activity did stop right at 130 that's what that flat orange line shows so let's go take a look at NASDAQ now go to book map go to NASDAQ so NASDAQ reverses right around the same time this time at the QQQ 355 level a little bit more choppy in this move higher than than the S&P 500 makes a deep pullback to 14,650 and then makes a quick blast up to 750 very fast 100-point move in NASDAQ NQ futures but we know that traders options traders would have been taking positive delta positions buying calls when traders buy calls market makers sell the calls and they have to buy NQ futures to hedge their delta exposure all right so there's NASDAQ another uptrend again a much easier more clear read for the options trades shown by hero for NASDAQ now let's take a quick look at some stocks and we will get to NVIDIA in just a moment so here's AMD nice strong uptrend today let's take a look at hero see what options traders are doing the total signal go to AMD and these are the stocks on my watch list down in this list below traders taking positive delta positions in AMD so up until about noon they were buying calls and selling puts and then they started buying puts right around noon but they continued to buy calls up until about one or 130 and note that orange line has leveled off blue line dropping now so they're buying puts but so far today the call buyers have been in charge so with this hero line sloping lower it may be difficult for AMD to make further progress higher and note this is AMD is right around the 105 key gamma strike and put wall and that level appears to be acting as resistance let's go back to book map so here's the 105 level put wall key gamma strike so note the shift in order flow the move up to this level was primarily fueled by options traders that has stopped essentially they've stopped buying calls started buying puts but now it looks like some aggressive buyers are starting to come in you can see by the green volume dots so up until right around you know so we're around here options traders we're driving the move higher they stopped and AMD chopped around the 105 level now green dots are showing aggressive buyers coming in at this level and they may want to move price higher right so that's AMD let's take a look at Microsoft and I'm just showing some examples from today and next we'll take a look at Nvidia next right so here's Microsoft let's go back to hero see what options traders are doing for Microsoft so Microsoft traders taking positive delta positions buying calls and selling puts both the numbers are positive but call buyers more aggressive and primarily driving price action and let's go back and take a look at book map very negative opening print here whoops get this tool very negative opening print it's shown by the very large magenta uh magenta volume dot it's typical of many stocks this very large opening print and the closing print will probably be even larger so quick move down to around the 312 level some sell sweeps shown by these small red dots into this liquidity at right around 311 70 and then price reverses higher as traders continue to buy calls and sell puts let's just take check gamma levels for for Microsoft so 315 is the put wall and 320 is the key gamma strike let's go back and take a look at book map 315 put wall 320 key gamma strike so note that Microsoft opened below the put wall and that would be considered an oversold condition and that is now trading above and note the high liquidity at the 320 level also liquidity at 317 so if if Microsoft makes it above 317 320 would be the next target may not have enough strength to get there today all right the next is Nvidia quite a bit of movement here in Nvidia today all right so be who hope i'm pronouncing that correctly wanted to take it a look at Nvidia levels so first of all we'll take a look at hero to see the levels and play for today so 420 is the put wall 432 50 is the hedge wall and then 440 is the key gamma strike and the call wall so put wall potential floor at 420 price did breach below that level and is now trading above 432 again the hedge wall let's take a look at one other thing for Nvidia and we can see how the levels have changed from day to day this is a 10 day history of the spot gamma key daily levels so what this is showing is in the last four days the key gamma strike has dropped from 450 to 440 but it's really oscillated around really 400 to 450 right now up toward the upper end of that range at 440 call wall has been moving lower that is bearish from 500 to 450 to 440 put wall looks like it is stabilized to move higher to 420 so again remember 420 was the is the put wall for today so there's the shifts and levels back to hero put wall breach of the put wall then moved higher acted to support as expected did its job it took a while his traders were buying calls that show by the rising orange line so quick move lowered all the way down to 417 and then traders stop stop selling calls stop buying puts and they started buying calls and price moved higher and note that unlike amd I believe they continue to buy calls so that it appears to be not as aggressively as they were before now they are buying puts but that activity really has pretty much leveled off since about 1130 or 12 so dip buyers definitely have been in buying options on an Nvidia helping to move price higher again remember when traders buy calls market makers sell the calls and they have to and they have to buy stock to hedge their delta exposure let's go back and take a look at book map Nvidia so pretty aggressive sweep lower down below the put wall and then price reverses right around 10 a.m. starts to make a series of higher lows as traders start buying calls very strong uptrend in Nvidia and it continues to move higher as traders continue to buy calls let's just go back and take a look and see if we can get a little bit more detail about what what traders are doing I'm just going to take a look at this next expiry setting which for Nvidia would be today's expiration so it looks like a very large component of the trade today and options is options that expire today right around two-thirds of the options traded today are and so again zero DTE options options that expire today about two-thirds of the total for Nvidia today all right let me take a look at questions all right Reneer blank says hello Doug back again at Switzerland trading yes is this trade-and-sale all right he says trading with book map and spot gamma combined works great I agree that's that's been my approach for quite some time I think it is gets to the heart of what is driving price with book map and spot gamma you can see so much all right so Truman asked can you show a gamma chart by strike and show where the key gamma strike is which instrument we're talking about so we're looking at looking at Nvidia I can show it here so this is the this is for Nvidia all right so there's the key gamma strike and call wall at 400 so that's the strike with largest absolute gamma and also the strike with the largest net positive gamma all right Truman says he traded zero DTE Nvidia and gained very value fast on uptrend yeah I mean if you bought a call down around the low of today you you made your day major week all right so for stocks we can take a look at that these key gamma strike the gamma strikes in this in this chart here this is the put and call impact chart and we can also take a look at it in the live price and spot gamma levels it's a little bit easier to see I think in the in the put call impact chart yeah here's the 440 level so there's the key gamma strike shown in this chart I think it's much more clear in this in this chart all right I've got a few minutes left let's take a look and go back to the S&B 500 let's just check compare zero DTE so zero DTE shown by this green line or teal line is also negative but not as negative as the total expiration line the purple line turn that off take a look at NASDAQ so now the NASDAQ signal has leveled off let's go check book map Nvidia uptrend continues higher way to go Truman great call today all right let's take a look at the S&B 500 all right so Nvidia obviously the stock of the day so it looks like now the S&B 500 is kind of stuck between this liquidity on the upside and VWAP and the 435 strike spy 435 on the downside let's take a look at NASDAQ all right trade and sale Reneer welcome back glad you're back with us good to have you again glad you're looking at book map and spot gamma great combination and once again the 358 level is acting as resistance looks like NASDAQ is trying to test that level one more time trade and sale says I love retail traders entering at VWAP and VWAP is typically a good place to look for entries back to ES got a couple minutes maybe one one or two minutes before I wrap it up any stocks that is there any stocks anyone wants me to take a look at all right so Truman wants to take a look at Tesla really choppy day in Tesla today I was not able to get a good read on Tesla let's see what options traders were doing really choppy day up and down very strong correlation between hedging flow and price action but I think Nvidia for example was much easier to trade all right so I'm not sure how to pronounce your name and Truman says the past two days Tesla has confused me to death I agree I Nvidia you know I like to trade Tesla and Nvidia Nvidia has been easier to trade so SKG SK Gengu sorry I'm not sure how to pronounce your name says hi Doug I have book map and spot gamma is it possible to in sport import spot gamma levels directly to book map and yes it is for ES and NQ spot gamma offers let's just go go here open this link so spot gamma offers integrations for these trading platforms so here's book map just click on that link and you'll see some links that you can add to cloud notes in book map I used to use that now I just prefer to have my own so what I do is I have my own cloud notes I use an add-on available in the book map marketplace called price lines not price levels price lines and so I can have one column of cloud notes with SPX levels spy levels and anything else that I want to put so put in there so for book map if you want to use this it is automated it's updated automatically but it's only SPX levels and sometimes the their price difference between ES and SPX is based on the close yesterday sometimes that changes a little bit overnight so they are using I think 15 point difference today whereas the actual difference is closer to 13 and a half today so I essentially do this manually trade and sale apparently says he does that as well so here's what I do let's go to book map let's go back to so this is only for you know I actually I could do this for all stocks I just don't have time so I have cloud notes for every stock here for stocks I'm typically just showing the big round the round numbers the fives and the zeros and in red and all the intermediate round numbers and yellow so that's for stocks and then for ES I have my own cloud notes that C levels column and then this is the this is a spreadsheet so that all this information I put in our spreadsheet this morning so here are the SPX levels I get all of this from spot gamma and then I just enter in my spreadsheet at right this morning I was using a 14 point difference so there's the 4300 level shown in the C column and the B column is showing 4314 all right so that's what I do it's a little bit more it's definitely more work than just using the spot gamma cloud notes but it's more accurate and I can show more information so here I have the here the spy levels as well so I've got all of that in one one column of cloud notes more accurate more information but not necessary all right I'm going to wrap it up I'm a little bit over time I want to thank everyone for watching thank you very much for your questions and comments I really appreciate it everyone have a great weekend and I will see you tomorrow uh Monday have a great weekend see you Monday thanks again bye