 Hello, everyone. Welcome to Options with Doug, streaming live daily on Bookmap Discord and the Bookmap YouTube channel at 1.30 p.m. each 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. Riskless closure, trading futures, equities, and options involve substantial risk of loss and it's not suitable for all investors. Past performance is not necessarily indicative 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 in Bookmap Discord, there's an options-Doug Chat channel that's a great place to post questions, comments, and content related to the topics in 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 P. Here are the key tenants to my approach for 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 and many stocks and futures. And for the S&B 500, SPX is the underlying index. SPI is the ETF version of that index and ES is a derivative of SPX. So when traders buy and sell puts and calls in the S&B 500, market makers take the opposite side of those trades and they will hedge their delta exposure with ES futures. They always want to remain delta neutral. And for the NASDAQ 100, NDX is the underlying index. QQQ is the ETF version of that index and NQ is a derivative of NDX. And again, when traders buy and sell puts and calls in the NASDAQ 100, they hedge their delta exposure with NQ futures. So certainly in these equity futures as well as the primarily the large cap tech stocks that I follow, they are price action every day almost is heavily driven by options trades. And we'll see plenty of examples of that today. All right, the focus of my presentation 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 in 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 in real-time market maker hedging flow and spot gamma hero to confirm my thesis and for setups. And when I talk about setups today we'll be focusing on an underlying asset. For example, setups in the SB500 can be taken with ES futures or 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 for your questions and comments. Please feel free to post. I'll do my best to answer your questions. And hello, Steven and Eric. Welcome. Glad you're here. All right. Here's my agenda for today. Monday, March 18th. First of all, I want to go over news items, economic data and events for today as well as the rest of the week. Then I'll go over my positional analysis. Then I'll review some setups from earlier today. And 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, let's get started with news items, economic data and events. So today there is a big event for NVIDIA and it is a conference that begins today. I think it's a four-day conference. The keynote speaker, the CEO of NVIDIA will deliver the keynote address at 4 p.m. eastern time today. So just as the market closes. And we'll take a look at price action for NVIDIA today. All right, so that is today. Then tomorrow, 8.30 a.m. eastern time, building permits come out. And then also at 1 p.m. There's a 20-year bond auction. So that's tomorrow. And then on Wednesday the big event of the day is the FOMC meeting. The meeting concludes on Wednesday. The announcement, rate announcement is at 2 p.m. Press conference begins at 2.30 p.m. So that will be the announcement will be right in the middle of my session on Wednesday. We'll stop and watch the SME 500 and NASDAQ at that time. And then Wednesday is also a VIX expiration. And that is at the cash open, I believe. All right, so that's the news for the week. All right, let's move on to positional analysis. Hello, JF, welcome. Glad you're here. Hello, Cesar, welcome. Glad you're here as well. All right, so let's move on to positional analysis. Let's keep in mind also that Friday was a big options expiration. It was the monthly and quarterly expiration. So it was the March monthly expiration, which was also one of the large quarterly expirations, March, June, September, and December. And let me just point out quickly a note that was in the SpotGamma email last night. I don't know if this is just two subscribers or everybody on their email list. They do have an invitation to join or a trial of SpotGamma at the end of the email. I'm going to assume this is for everybody. I just picked out a couple of notes. Again, reminding everyone of the triple witching. That is the March quarterly expiration. And I've highlighted some key points here. After these quarterly events, they're often delayed but prolonged breakouts in either direction. So that's important. Note that is in either direction. Also the second highlighted section, important to remain oriented with the fact that volatility works in both directions. And an unpinning event from this quarterly release of CallGamma makes this market equally susceptible to break upward as it is to break downward. So all that CallGamma, it was a very heavily call dominated expiration. CallGamma has expired and that is opening up the market to wider trading range, more volatility. All right, so let's move on to positional analysis now. So this is the S&E 500. ES Futures and a book map. Before I take a closer look at this chart, I do want to take a step back, look at a larger time frame. I'm going to go to the underlying index. That is SPX. Current rally began last year, October 30th. Shown by this dash purple line, trend line, diagonal line. All right, so this rally, the SPX has rallied up since October 30th around 1080 points from low to high. All right, now let's zoom in. So that's a one day chart. Now let's take a look at a one hour chart. So this is the top of that trend line that I just pointed out right there in the high for SPX around 5189. Suzette Janssen says, new here, but finally found someone want to learn from. Thank you, Doug. Thank you very much for your kind words. You're very welcome. And I am certainly glad that you're here and that you found someone you want to listen to. I hope I live up to your expectations. All right, so this is the top end of that rally. Again, a 30 day one hour chart. This is a little downtrend that began last week. SPX this morning gapped up well above that. All right, so let me point out the levels on this chart. First of all, the dash purple lines, the horizontal lines are showing the lower and upper weekly expected move. This is based on the options market. This is updated once a week. So this is based on the closing price for SPX on Friday. So SPX trading below the upper weekly expected move, the dash blue lines are showing the lower and upper daily expected move. That's updated every day. Again, here this is based on the closing price on Friday. And note that SPX did gap up above the upper daily expected move and is still trading above that level. So the upper daily expected move changes every day. I do post the updated expected moves in Discord every day. All right, the other levels on this chart are spot gamma levels. These are provided to spot gamma subscribers. They're proprietary based on gamma weighted open interest shown on a variety of trading platforms. This is thinkorswim. I'm going to point out the key daily levels. First of all, the 5000 level is the absolute gamma strike. That's a strike where the largest absolute positive and negative gamma. So that's where most of the gamma weighted open interest is concentrated. And note that level did move lower from Friday. So it had been at 5000 for quite some time and the last week it moved up up to 5150. Now back down to 5000 where that's, again, that's where most of the gamma weighted open interest is concentrated. The next level up is 5130. And that is the put wall. That's a strike where the largest net negative gamma that can be expected to act as support. And that's also the volatility trigger. That is spot gamma's proprietary volatility flip level. Below that level, our market makers position on the gamma curve is negative. In a negative gamma environment, market makers have to trade with price to hedge their 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 to hedge their delta exposure. And we'll see in just a few minutes that gamma notional for SPX was negative at the beginning of the day. And SPX gapped up above that level, so now trading above the volatility trigger in potentially a positive gamma environment for tomorrow. And then finally, the call wall remains at 5200. That's a strike where the largest net positive gamma that can be expected to act as resistance. All right, so for SPX, the volatility trigger and put wall both move lower slightly from 5155 and 50 down to 5130. And as I mentioned before, the absolute gamma strike shifted lower. So that's a bearish hat trick for SPX. Three levels moving lower. All right, let's wrap up our view of SPX with a one minute chart just so we can get a closer look at the levels and play for today. So this is SPX showing about three days worth of data. This is that trend line that I pointed out last week, that short downtrend line. SPX gapped up well above that level. Trading in a pretty narrow range today above the upper daily expected move, gapped up above the upper daily expected move and continues to trade there. All right, let's go to book map. In book map, I have my own cloud notes, so I can show SPX levels. Here's this 5160 level that was noted as resistance in the spot gamma M founders note. That level has been in play today, so I'm showing SPX levels on this chart. Also spy levels. Here's the spy 515 large gamma 2 level. Just below that is a combo one level. And that combines spy and SPX. Gamma weighted open interest into one combined level. They're shown in terms of a spy price and then converted to an ES price. I did that conversion. All right, note there is a difference in price between ES and SPX. Today it is right around 64. So ES minus SPX equals 64. So I'm showing SPX 5160 at ES 5224. And note I do post the index relationships that I'm using every day in the options to hashtag chat channel and book map discord. All right, let me check for questions. JF ask, are you the calculator for upper and lower daily expected move? Yes. All right, so let me quickly show that. So here's SPX. Get rid of these. Go to an options chain. All right, so for tomorrow, this is what I'll be looking at right here. This is 19th March. So this is the options that expire tomorrow. So what I'll do, I'll take the closing price. So I will wait until 415 p.m. eastern time. I'll take this number at the close and add it and subtract it from the closing price to get the daily expected move for tomorrow. And JF ask, is there a link to get to preliminaries for better understanding of your points? Sorry, on my list is a primer, I guess a few primer videos. I have not had time to do that. So what I can suggest now is just to, if you want the basics of book map, go to the learning center on bookmap.com. The basics of Spot Gamma, that will take some time to absorb. And go to spotgamma.com. Take a look at the free resources there for more information. All right, so Anirag ask, how to show the weekly expected move. All right, basics for options, you should be able to find that information on spotgamma.com as well as tastylive.com. All right, so Anirag, you can calculate the weekly expected move the same way. Just go to, on Friday you want to go to the expiration for the following Friday. All right, so you can calculate the expected move for any day using that approach. All right, so let's go back to, go back to bookmap now. This 5160 and spy514. So I'm showing, again, spy levels on this chart as well. Those two levels acting as resistance earlier today, then support. Right around 515 acting as resistance. Not real clean. All right, so those are the levels in play for the SOB500. All right, let's take a look at Nasdaq. No problem, glad to answer your question. All right, Nasdaq. This is the NQ Futures and Bookmap. And before I take a closer look at this chart, I do want to take a look at the underlying index charts. All right, I forgot to mention for spy, there was also a bearish hat trick for spy. Volatility trigger put wall and absolute gamma strike all shifted lower. The call wall did shift higher up to 520. So more in line with the 5200 call wall for SPX. So overall bearish hat tricks for spy and SPX. Three levels shifted lower. And that's also the case for the Nasdaq. All right, so this is QQQ. Most of the move up was happened overnight. QQQ 441 acting as resistance. Note 439, the zero gamma level did act as support earlier today. A lot of consolidation around that level. Now acting as resistance. And note that 440, that's a large gamma three level. Volatility trigger well below at 435. All right, so again for QQQ, bearish hat trick. Volatility trigger put wall and absolute gamma strike just like spy shifted lower. Call wall did shift higher to 450. All right, let's take a quick look at NDX. Then we'll get back to book map. NDX gapping up also above 18,000, which looks like it may be acting as support. NDX is also above its call wall at 17,900. And for NDX, all four key daily levels shifted lower. So that's very bearish. So 17,900 is also the absolute gamma strike. All right, let's go back to book map. So 441 again acting as resistance earlier today. That's also just above the NQ upper weekly expected move. And note the upper daily expected move for NQ is well below here. And again, that's the upper daily expected move. That's at 218. All right, so there's this 439 zero gamma level that has been in play for today. Resistance and support. Now looking like resistance again as NQ has made a series of lower highs. All right, so again, I have my own cloud notes here in book map so I can show QQQ levels and also NDX levels. There's this 18,000 level just above the NQ 250 level. All right, Anirag asked in spite of bearish hat tricks, why are we up then? Well, the day's not over yet. GSAL asked, do you use book map pursuing trading? No, I don't. That doesn't mean you can't, but I use it for intraday trading. All right, so you can certainly use book map for swing trading. I think plenty of people do. I just prefer intraday trading. All right, Suzette asked the article you mentioned on spot gamma that you authored, how can we access? I'm not sure I mentioned an article I authored. I do write articles for, I write a couple of articles each month for spot gamma and it's up to them what they do with the articles. Once I hand those over to spot gamma, they pay me to write those articles. So the content is theirs to do what they want to do with. They used to post them on their blog. I don't believe they do anymore. They're holding them back for content for paid events like boot camp events. All right, Anirag and the Spina bearish hat tricks again. Why are we up then? The day's not over. All right, JF is asking about Friday 15th expiration. So the past, the March 315 expiration was a quarterly. So that's a monthly options expiration. So there are, for stocks, weekly expirations and monthly expirations. For the SB500, for SPI, SPX, ES, there are daily, weekly and monthly expirations. And the monthly is the traditional expiration that large institutional traders will use for hedging and they will concentrate most of their hedges in the quarterly expirations. All right, Anirag is asking about the hero put and call separate signals for SPX. We'll get there. We're not there yet. And I'm not going to look at SPX because it's just one component of the SB500. I will look at the combined signal. All right, so JF again, let me, I guess complete my answer to your question. So all that call gamma, rewind, you can watch the archive. Take a look at those quotes from Spot Gamma that was in the email from last night. All that call gamma, a lot of call gamma has expired. Very call dominated expiration. That call gamma tends to stabilize the market. That stabilizing factor is gone now. So we can expect more volatility, wider trading ranges as that call gamma has again expired. All right, let's, let's move on now. Let's just take a very quick look at gamma notional at the beginning of the day. All right, so again, rewind, watch the archive, read these quotes. That should give you more information. All right, let's take a look at gamma notional now. This is market makers position on the gamma curve at the beginning of the day. I'm going to focus on the SB500 and Aztec. Note with the exception of NDX, which is not really significant. These numbers are negative. So in a negative gamma environment, Spot Gamma assumes that traders are long puts. Market makers are short puts. Hence the next negative gamma they have to trade with price dash to their delta exposure. And with the gap gaps up above volatility trigger. At some point today, the SB500 and the Nasdaq were most likely trading in a positive gamma environment. But at the beginning of the day, these numbers were all negative and they did shift lower from Friday. All right, let's move on now. Let's take a look at some setups. All right, so my thesis for the day was, first of all, based on the call dominated expiration looking for and also the negative gamma at the beginning of the day, looking for higher volatility, wider trading range. Also all the shifts lower and levels. My thesis for the day was bearish and it took a while. It looks like it's taking a while to play out. All right, so now what I want to do everything that we've looked at so far other than book map is based on static data. Spot gamma takes open interest data that's updated once a day sometime during the night. Spot gamma takes that data, applies their algorithms to come up with the levels that I put on my charts that are available to spot gamma subscribers, the gamma notional, all that information. Static data based on gamma weighted open interest. Now we'll move on to the execution part of my process, look at real time data. So I want to take a look at what options traders are doing today. So I'm going to move on to the hero signal that is H-I-R-O, hedging impact real time options. So this is showing what options traders and market makers are doing, how they're driving price. So this is the hero signal for the SP500. This is the combined signal of SPX, SPY, XSP, and ES futures. And Anirag, here you go. I don't want to look at SPX, it's only one component of this. All these instruments that are driving price for the SP500. So this chart is showing price for SPX with a white line and the hero signal with a purple line. Again, that's hedging impact real time options. A rising hero signal indicates traders are taking positive delta positions. They're buying calls and or selling puts. A falling hero signal indicates they are taking negative delta positions. They're buying puts and or selling calls. Alright, let's zoom in on this chart. Alright, there are a couple of signals on this chart. So first of all, in the morning, right around 10 a.m., actually a little bit before 10, this flow alert came in, that signal's significant options activity can often act as a mean reverting signal for the SP500. Just a minute or two later, the hero signal shifts positive, traders start taking positive delta positions. Market makers take the opposite side of that and they have to buy ES futures to hedge their delta exposure. So that's a long setup. Then another hero signal comes in, again acting as a good mean reverting signal. Hero shifts lower and price moves lower. Alright, so Anirag, I look at the, is asking about puts versus calls versus the total signal. I look at both and I'm looking for clarity and here in the, we'll take a look, let's see. Alright, so that's one of the problems of jumping back and forth. There's this auto zoom issue. Alright, so Anirag, you can tell me which is the, which is the clearest. So here, right around 1030, so traders were buying calls. They take the foot off the gas. They were selling puts. So during this time from 10 to 1030, they were buying calls and selling puts. Blue line, orange line moving the same direction. So the orange line is calls. Rising orange line indicates traders are buying calls. Market makers take the opposite side and they have to buy futures to hedge their delta exposure. Rising blue line indicates traders are selling puts. So again, blue line during this, during this time right here, both lines moving in the same direction upward. Price moves up. Then just before 1030, when they stop buying calls, they start buying puts. Price moves lower. And Steven, thank you very much, says it's not that, not that simple. My opinion, my opinion too. I agree with that. So there's no right answer. I have to jump. Let's go back to the SB 500. The put and call lines, separate put and call lines provide a little bit more insight into what's going on. But if you're just looking at something to trade, certainly for the SB 500, this provides a lot of clarity, I think. So I'm going to stick with this for right now. All right, so that's the SB 500. Let's go to look at book map now. So in book map, let's go back to the ES. Zoom in. Give me just a moment to get the chart moved around. All right, so remember just before 10am, traders started taking positive delta positions. So let's take a look at the clues in book map here. The volume dots show market buy minus sell. Magenta dots indicate more sellers than buyers. Green volume dots indicate more buyers than sellers. Price moves down to this 5160 level. And there are a lot of aggressive sellers. Large traders coming in with iceberg orders. That's shown by the rising light blue line. Again, remember traders are taking positive delta positions. Aggressive buyers start to come in, shown by the green volume dots. CVD starts to rise. That's the dark blue line, cumulative volume delta. And as price starts to move higher, buy stop orders fuel the move higher. Price moves all the way up to this liquidity at 5240. Then aggressive sellers start to come in. All the lines in the sub chart level off. Traders start taking negative delta positions. Price reverses lower. All right, so that's the SB500. And JF says nothing simple in trading. Yes, that is correct. I agree with that. Right, JF, I don't understand your next comment. But for that day on those charts, it seems going the way anirag pointed. All right, so yeah, this is hindsight right now. I'm looking at, I'm reviewing setups earlier today, showing the clues. My point is to teach how to use book map and spot gamma to plan and execute your own trades. All right, so after that reversal at 1030, traders, the SB500 has been making lower highs and lower lows. All right, let's move on to NASDAQ. Take a look at hero. All right, I'm going to move on to this mag seven signal. Let me zoom out quickly. See what this is. This is a chart. Hero signal for the stocks known as the Magnificent Seven. Apple, Amazon, Google, Meta, Microsoft, NVIDIA, Tesla. These are the stocks I like to trade. Price action heavily driven by options, trades, and market maker hedging activity. This is the signal that I like to use for the NASDAQ. So let's zoom back in. So first of all, just after 10 a.m., so initially from the open traders taking a positive delta positions, pull back, take positive delta positions, NASDAQ moves higher. So let's go take a look at that in book, ma'am. Zoom in. All right, here's that long. Again, traders buying, large traders buying with iceberg orders they use to hide their size. Magenta volume dots on the way down. Remember, traders are starting to take positive delta positions in the mag seven stocks. The 439 zero gamma level noted as support in the spot gamma and founders note, aggressive buyers start to come in shown by the green volume dots, large traders buying with iceberg orders, options traders taking positive delta positions, and NASDAQ moves up to the 441 level, makes a double top there, and then reverses lower. All right, let's go back to hero. So often with this mag seven signal, let me zoom in just a little bit. If you're looking for a reversal point, you can just look for traders to take their foot off the gas. So the hero signal levels off, price moves lower, and then the hero signal really starts to drop right around 1125. But again, what I often look for is this mag seven signal, just to level off for the options traders in the mag seven stocks, just to take their foot off the gas. All right, and a rag gas. Do we need to buy book map to use hero signal spot gamma? No. All right, so book map and spot gamma are two separate companies, two separate subscriptions. And thank you, Stephen, for answering that. So book map, again, entirely separate from spot gamma. I use both. So really the only relationship between book map and spot gamma is that spot gamma does provide cloud notes to show levels for NQQQQ, NQ and ES. I don't use those. They only, for ES, for example, spot gamma cloud notes will only provide SPX levels. I like to show other levels, so I just have my own cloud notes where I'm showing the spot gamma spy and SPX levels, as well as key ES levels. All right, so NASDAQ, that was the long setup of the morning, then short set up the double top at 441 and the traders started taking negative delta positions in the MAG7 stocks. And note this move lower, right around 1030, so in the NASDAQ and the SB500 were in line with my bearish thesis for the day. All right, let's take a look at some stocks. First stock I want to take a look at is Apple. So there was news out this morning that, and I don't know if this is confirmed or if it was talks or an agreement or whatever, but talks or news about Apple licensing Google Gemini, their AI platform. All right, so there was a very bullish reaction in both stocks. This is Apple. Let's see what options traders are doing. Let's go to Apple. All right, here, Adirag, I'm actually going to separate outputs and calls. I'm going to have to jump, jump back, go to Apple. It's a little morning, traders are buying calls. That's shown by the rising orange line, put line, blue line, flat. Traders buying calls. Note you can't, it's hard to see here, but there's a hero flow alert. They came in just a few minutes after the cash open. Traders aggressively buying calls. Price moves higher. Call buyers take the foot off the gas. Very typical pattern here, right around 1045 and Apple starts to move lower. That fuel call buyers have taken the foot off the gas. Now Apple moving lower. All right, so that's Apple. I'll get to Google in just a minute. And JF asked, did you take any trades today using the signals you showed? Yes, I did. Today I did trade Google and AMD. All right, so here's AMD. Let's go back to hero. Go to AMD. Let's zoom in. All right, so AMD. Traders are buying puts and selling calls. Market makers take the opposite side of that and they have to sell stock to hedge their delta exposure. So the market makers are buying calls and selling puts. Both positive delta and they have to sell stock to hedge their delta exposure. All right, let's take a look at Google. Again, also in the news about Apple licensing the Gemini technology. Zoom in on this a bit. Flow alerts right at the cash open. Indicating significant options activity. Traders were buying calls. Initially selling puts as well. And if you missed this initial move up, there was a pullback for about a point and a half. In Google, let's go take a look at Bookmap. Zoom in. Note the rising cumulative volume delta. You can just see all the green volume dots as well. Very bullish opening print. There's that pullback. Good for about a point and a half if you missed this initial burst. Google's not typically not a big mover. All right, let's move on to NVIDIA. Remember NVIDIA, there's an event today through Thursday. Turns out to be a very bearish day here in NVIDIA. All right, WRB, I'm talking about NVIDIA now. We'll get to Tesla in just a moment. All right, Anirag says it seems like if orange line and blue line moving together is the best indicator out there, I agree with that. Yes, that is a very bullish or bearish signal. Strong directional signal. All right, JF is asking about Google. I'll get back to that. All right, so let's take a look and see what options traders have been doing in NVIDIA. All right, so initially traders were aggressively buying calls. Looks like NVIDIA opened above the call wall, 900 call wall, key gamma strike, flow alert, call buyers quickly take their foot off the gas. NVIDIA moves lower. So for the day they are buying puts and selling calls, a notional value negative for both the blue line and the orange line. And let's take a look at Tesla, a very bullish day here in Tesla. Traders initially were selling puts, understandable, given the move down over recent days in Tesla, selling puts, contrarian options traders, trading start buying calls, sharply rising orange line, three flow alerts, they're shown on the orange line but they don't necessarily mean just calls. So traders start buying calls, joining the move higher and Tesla moves higher. Let's go take a look at Tesla in book map. So very bullish day in Tesla. Note the rising cumulative volume delta starts right around 10.30. A lot of aggressive sellers, then aggressive buyers start to come in and as price moves up, note all the green volume dots. All right, Katinka asked about SPI. There's really no reason to look at SPI. If you're trading SPI, this is what you want to take a look at, ES. Way more information. And you want to look at the combined hero signal. So I normally don't even look at SPI. All right, let me get to JF's question about Google and a little bit more. All right, let me see if I can find your question. All right, let's zoom in. All right, so JF asked, what makes us buy around 149 and with what stop-loss? So if you, the only way to buy at 149 was right at the cash open. If you had already read the news, you could buy at the cash open. And if you like to wait for confirmation, you could get in here right around 150 or a little bit of a pullback here. Knowing that traders were buying calls, market makers sell the calls, they have to buy stock to hedge their delta exposure. And your stop-loss is entirely up to you. Your account size, risk tolerance. I use a wider stop-loss and stock like NVIDIA than I do on Google. I'll talk about trading in Bookmap in just a minute. So the good thing about Bookmap, you can set brackets with a fixed stop-loss that are separate for each instrument. All right, Caesar wants to take a look at Boeing. So I don't have a Boeing in Bookmap. I'm going to take a look in Hero. So let's go to Boeing. I'm going to go to the total signal. All right, so Boeing flow alerts coming in at the open. Traders taking negative delta positions. We have to jump back. So good short and Boeing from the open. It took a while, price started to move higher before options traders joined the party. All right, you're welcome, Caesar. All right, let's take a quick look at... We'll go to Tesla, see what's happening. So traders continue to take positive delta positions in Tesla. One thing I'm going to do, this is part of my approach in the morning, is I will have... I have three screens that I'm looking at in the morning. One is Bookmap. That's in my center screen. And off to one side I have Hero showing watch list alerts. So I'm showing alerts for my watch list. There's an alert for QQQ. So you can just click on this, get to the alert for QQQ. That's bullish. Hero signal rising for QQQ. Let's confirm that with Mag7. Starting to move higher as well. And NASDAQ may be reversing higher. All right, I want to take a look at... Take a look at a stock. So for Tesla, Hero signal also shifting higher. So QQQ. There's an alert. So again, in the morning I'm looking for alerts. Click on the alert, look at the signal. So that's how I found AMD, for example. I mean Google. I'll have to check, let's see. All right, so there are typically quite a bit of alerts in the morning. Good to get your attention. Anyway, let's take a quick look at Tesla. I did want to talk briefly about trading and book map. Let's go to Tesla. All right, book map is a visualization platform. It's also a trading platform. So to trade in book map, first of all, you need to subscribe to Global Plus. You can subscribe to Global or Global Plus. Again, for trading, you need Global Plus. All right, you also need to subscribe to data. So for stocks, I subscribe to DX feed data. For futures, I'd subscribe to rhythmic. You also need to have a broker that is compatible with book map. And for stocks right now, for stocks right now, I'm using Trade Station. I still have a demo of Trade Station. I'm connected to that right now. Then I'm going to open up the trade control panel here in book map. So I'm trading Tesla at TS. That's Trade Station. Here I can pick whether I want to trade on the chart, on the dome or both. I like to trade on the chart. I'm going to go ahead and pin this. I can select the number of shares I want to trade. Then I can set brackets here. So here for Tesla, my typical bracket, so there's a stop loss of 100 ticks or $1 and take profit of 2. So 1 to 2 ratio. Here was the long entry at 172. So we missed that. That was right after 130. All right, so right now there's nothing to do in Tesla. If I was interested in looking for a long, I would be looking for a deeper pullback, maybe a pullback to 173. So when I do place a trade, I will typically double click. So if I want to buy, let's say I wanted to buy at 173. I would double click there. All right, so that's placing a two limit orders for 200 shares just above 173. And then once that order is filled, I would move take profit orders 1 to, let's say 174, 1 to 175, leave my stop order where it is. And if my first take profit order is hit, then I would move my stop order up to break even. All right, Anirag, this is not, this is just an example of how to use the tools. Anirag asked, why was that a long entry on Tesla? This was not a long entry in Tesla. This was just an example of how to place a trade in Bookmap. This is in no means a trade recommendation. I would not take this. I would not put this order here. I'm going to cancel it right now. So that's just an example of how to use the tools in Bookmap. Nothing more. All right, so Anirag, again, that was not meant as a trade recommendation, a trade that I would actually take, just an example of how to enter a trade in Bookmap. All right, so hope that makes sense. All right, so I'm going to turn this off. Let's just take a quick look at the S&P 500. All right, so maybe has broken down the downtrend. Large traders have been buying with iceberg orders. CVD may be starting to tick up. Let's see what options traders are doing. Let's go back to the S&P 500. All right, does everybody get it on what I was showing on Tesla? That was not a recommendation, not a trade that I would take that's simply showing how to use the tools in Bookmap. All right, so hero flow for QQQ moving up. Looks like the Mag7 hero signal may be starting to move up. Let's go take a look at NASDAQ. All right, you're welcome, JF. JF is asking about Sierra, Sierra charts. So I use Bookmap and SpotGamma. All right, so it looks like NQ has maybe broken that downtrend as well. All right, my time is up. I want to thank everyone for watching. Thank you very much for all your questions and comments. Remember, tomorrow building permits, I don't know if that will be much of a market mover, and then 1 p.m., the 20-year bond auction, and then big FOMC meeting coming up on Wednesday. And also, we'll keep an eye on NVIDIA. The CEO keynote address begins at 4 p.m. each time. All right, everyone, thank you very much for your questions and comments. Thanks for watching, and I will see you tomorrow.