 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. First disclosure, creating 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. 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 of my presentation and of the channel, which I'll go through in just a moment. And hello, Joel. Welcome. Glad you're here. And hello, Gray. Good afternoon to you as well. Welcome. Glad you're here. Alright, I'm also on X, formerly known as Twitter. My name there is at Doug Plus. The focus of my presentation and the focus of the options-Doug Chat channel is options order flow, the impact of options markets on stocks and futures, and the influence of marketmaker hedging flow on price action. I have a two-step process for trading and the first is planning and I use positional analysis. I look at how traders and market makers are positioned at the options market and how those positions change from day to day to develop a thesis regarding the expected trading range and volatility for the day, as well as a directional bias. And the second step of my process is execution. And I look at real-time order flow in Bookmap and real-time marketmaker hedging flow in Spot Gamma Hero to confirm my thesis and for setups for entries and exits. Questions and comments are welcome and I will be watching both the options-Doug Chat channel and Discord as well as the chat and YouTube for your questions and comments. Please feel free to post and I'll do my best to answer your questions. And hello, Don. Welcome. Glad you're here. Alright, news items, economic data, events and earnings for the week. My agenda for the week, I want to go over news items, economic data, events and earnings for the week. Then I'll go through my positional analysis. Then I'll review some setups from this morning. 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. Alright, news items, economic data, events and earnings. So nothing really today. It really, economic data starts tomorrow. PPI data comes out at 8.30 a.m. Eastern time. And then the F1C minutes from the previous meeting come out at 2 p.m. Eastern time. And note that will be in the middle of my session tomorrow and I'll stop whatever I'm doing and we'll watch the, watch the market probably the most likely S&P 500 to see any reaction to the F1C minutes. And then on Thursday, PPI data comes out at 8.30 a.m. Eastern time. That could be a market mover. And then on Friday, Michigan consumer sentiment at 10 a.m. Also there are a number of Fed speakers throughout the week. And I believe bank earnings begin toward the end of the week. Alright so that is the news items for the week. Alright, let's get started with positional analysis. Now I'm going to start with the S&P 500. This is the ES Futures and Bookmap. Before I take a closer look at this chart, I want to take a look at a larger time frame. I'm going to go to the SPX. This is SPX in a one day, a 30 day, one hour chart. And let me point out some items and price action here. This is the September 15th call dominated options expiration. The downtrend, that's when the downtrend began, a reversal right around 4,500. And price moved lower and now appears to be consolidated and moving back higher around the 42, between the 4,200 and the 4,250 level. Alright, let me point out some levels shown on the chart. So this chart is just showing price, 30 day, one hour chart. And also key levels. So first of all, the lower and upper weekly expected move, shown with the dash purple lines. So SPX did trade above the upper weekly expected move earlier today. Now it's moving lower. These levels are based on the options market, one standard deviation move. So 68% of the time SPX is expected to trade within that range. That is the weekly expected move based on the options market. Again, should be available on any trading platform that has an options chain. And hello, Tony. Welcome. Glad you're here. Alright, the dash blue lines are showing the lower and upper daily expected move that changes every day. Again, a one standard deviation move for the day. So 68% of the time SPX should trade within that level, within that range. And SPX did trade above the upper daily expected move earlier today. And is now trading lower, just a little bit lower. It appears we'll take a closer look in just a minute. At the levels in play for today. Alright, let me point out the spot gamma levels. These are proprietary spot gamma levels available to spot gamma subscribers based on gamma weighted open interest. I'm going to point out the key daily levels. First of all, oops, wrong tool. Just clean this up. So these are the key daily levels. First of all, the put wall. That's the strike with the largest net negative gamma that can be expected to act to support not really in play today. And the next level up is 4300. That's the absolute gamma strike. That's a strike with the largest net absolute positive and negative gamma. So most gamma weighted open interest today is concentrated at the 4300 level. Just above that is the volatility trigger that a spot gammas proprietary gamma flip level. Below that level, market makers position on the gamma curve is negative. In a negative gamma environment, market makers have to trade with price to hedge their delta exposure. And that tends to enhance or increase volatility. And SPX has been trading in a negative gamma environment below the volatility trigger for quite a while. Today, it is trading above that level. So in a positive gamma environment, market makers have to trade against price to hedge their delta exposure. And that tends to decrease or subdue volatility. And then finally, the last key daily level is the call wall at 4400. That's a strike with a large net positive gamma that can be expected to act as resistance. And note that level did move lower from yesterday from 4450 to 4400. So shift lower in the call wall, that's the potential ceiling. And that is slightly bearish to have that call wall move lower. Alright, so those are the key daily levels. For SPX, again, the only shift in level was the call wall shifting lower. Let's take a look at the levels in play for today. I'm going to go to a another SPX chart. This is one day one minute. SPX gapped up slightly found support at the zero gamma level at 4343 traded up above the upper weekly expected move, also this combo level, L four combo level, and also above the upper daily expected move. And now that upper daily expected move may be acting as resistance. We'll see we'll take a look at the SB 500 in just a minute and book map the futures. Alright, so those are the levels that are in play for today. In the SPX. Now let's go to book map ES futures. So in book map, I have my cloud notes, I'm showing a variety of levels here. First of all, I'm showing SPX levels converted to an equivalent ES number. So today, the ES to SPX difference is right around 33 points. So ES minus SPX is 33. That's what I'm using today. So the 4350, for example, that large gamma three level is at 43 83 ES 43 83. That's the equivalent level. I'm also showing spy levels on this chart. So here's the spy 437 level that did act as resistance today. It took a while for the SB 500 to roll over. Also this spy 435 level was noted as resistance in the spot gamma AM founders note with the equivalent level around the SPX 43 65. And so far earlier today, there was some consolidation at that level that price continued to hire another two spy points up to four 437. All right, here's the upper daily expected move for ES. And also the upper weekly expected move again shown weekly with dash purple daily with dash blue. Alright, so those levels in play for the SAP 500 shifts and levels I talked about SPX the call wall shifted lower. And for spy, the call wall actually shifted higher from 434 yesterday to a more bigger rounder number the 450 level. So a big shift higher in the call wall for spy from 434 to 450. Alright, so again, those are the levels in play for today. Again, this 430 4340 4340 gamma level around that level acting as support VWAP also this morning, we'll talk about this setup in a few minutes. And then the spy 437 level so far acting as resistance. Alright, let's take a look at NASDAQ now. So this is the NQ futures and book map. And I'm going to isolate the first of all the QQQ levels. Let's look at only QQQ chart. This is a one day one minute chart. So here is the this combo level. Combo one important level around that level acted as resistance that combines QQQ and NDX gamma weighted open interest into one level in an equivalent QQQ price. And then also here's another L one level of 370. That is the absolute gamma strike. Right? So those are the key levels for QQQ again 370 this 371 33 combo L one level and the 370 absolute gamma strike. Let's take a look at NDX focus on today. Here's that same combo level converted to an equivalent NDX price 15,200 L three level. Let's just take it and see let's take a look and see what is right above the this combo L one level the resistance level so far today. And that is the call wall at 15,250. That's also the absolute gamma strike. This is the level that I'm talking about right here. So the potential ceiling for price for NDX. Let's go back to book map. So I've got those levels on my chart as well. In my cloud notes. First of all, here is the NDX. Let me draw that again. NDX 15,250 absolute gamma strike call wall. And then that combo level just below that that did act as resistance. And then earlier today, there was really no clear support. Just in this cluster of levels here. This is the point of control for the day it has not moved up. Note all the volume for the day for the session. This is the session volume profile concentrated right around this 15,200 level and the QQQ 367 level. So this there was some consolidation around this level and then price broke out of that I'll talk about this setup in a few minutes and made it past the upper daily expected move. All the way to this these two levels up here. Alright, so those are the levels for NASDAQ today. Shifts and levels there was only one shift for QQQ the call wall shifted lower from 380 to 372. So slightly bearish shift lower for the call wall and QQQ. Alright, again, we'll talk about setups in a few minutes. Let's take a look at gamma notional now to see how market makers were positioned on the gamma curve at the beginning of the day. This is the the number that I want to take a look at right here this gamma notional for SBX spy and QQQ NDX is not significant. Alright, note all these numbers are negative indicating at the beginning of the day. Traders were long puts, market makers were short puts. So their position on the gamma curve is negative. And but slight but very this negative gamma position has been shifting higher and higher on the gamma curve the last few days. So these numbers are still negative, but less negative than the last few days, scrolling through so on the fourth, let's see if I can find the highest number for for spy on the fourth the gamma notional for spy 10 October fourth was 2000 2.58 billion. And that is about half of that now. So again, at the beginning of the day, market makers position on the gamma curve was still negative, but less negative than yesterday less negative than the last few days. Alright, let's take a look at the Vanna model now and we'll get a better idea what that means. So this is the Vanna model for SBX will start with SBX. Right there. What this chart is showing is market makers delta notional on the vertical axis price on the horizontal axis. There are two curves on this chart. The first light gray curve shows how market makers delta notional changes with changes in price only. And then the purple curve adds implied volatility to the equation that showing how market makers delta notional changes with changes in price and implied volatility. And that change in Delta with a change in applied volatility is the Vanna fact. And Vanna is the second order Greek. And that is again showing how delta changes with the change in implied volatility. Alright, let's take a look at prices now on this chart. And we'll see exactly what this means. So today for the the low of the day for SBX was right around 4340. Let me see if I can find that. So somewhere between these two lines. So maybe somewhere around here. So what this is showing and I'm looking at the purple curve that as price increases and implied volatility drops. We'll take a look at a chart of VIX futures in just a moment that trader market makers can buy back their short hedges. So when market makers are short puts, their short futures to hedge their delta exposure, as price increases implied volatility drops, those puts lose value their delta notional, their market makers delta notional decreases, and they can buy back their short futures. And that tends to enhance or increase volatility. What this chart is showing is there was very little put Vanna fuel left in the tank after the rally the last couple of days. So on Friday with the jobs report, for example, or the day before, gamma notional has been decreasing ever since market makers position on the gamma curve a slight has been shifting higher and higher. And there's less put Vanna fuel in the tank to fuel a rally. And let's see where SPX is trading now 4368. So that's right here. So near the bottom of the curve for the price only curve and pretty close to the bottom for the curve that includes implied volatility. So both the gray curve and the and the purple curve indicating that there's really today, at least there's no fuel left in the tank for a put Vanna rally. And what this is showing is if price continues to increase, market makers will have to start selling futures. This is typical of a positive gamma environment. They will be selling as price increases. Alright, let's take a look at the Vanna model for spy and qqq. And let's actually let's just go back to SPX for for a moment. And I want to compare curves for the last three days. So this is today. Let's go to yesterday. And note how the shift the curve is shifting as gamma notional is decreasing. So this curve is very typical of a very negative gamma environment. Gamma notional becomes less negative and the skew to the left is less pronounced. And that continues today. And hello boj landscape surfaces. Welcome glad you're here and hello tk. Welcome glad you're here. Alright, let's take a look at spy now. So for spy the low of the day was around 432 right around here. Spy is currently traded up to 437. We saw that was the resistance level. So that's right around here at the bottom of the curve, indicating at that point, no more put Vanna fuel for you. And then let's take a look at qqq. Also a curve a little bit more typical of a not so negative gamma environment qqq. Lower the day was right around 366. There it is on the gamma curve and qqq currently trading. And we saw that high the day was around 370 right at the bottom of this curve. So also no more put Vanna fuel for you for qqq. And note this works both ways. The price starts to drop and apply volatility increases. Market makers will have to sell futures to hedge their delta exposure. Remember, at the beginning of the day, their position on the gamma curve was negative. Let's take a look at let's take a look at implied or the VIX futures just as a proxy for implied volatility. So I'm going to go starting with yesterday. So this is yesterday in this dark shaded area. This is overnight. The extended trading hour session. And then VIX continue to drop or volatility. Well, you were using this as a proxy for implied volatility up until about 11 o'clock then continue to then started rise again. Alright, the reason I'm looking at VIX futures, I think this may be a little bit more VIX itself is looking out 30 days pretty much. And VIX this slash VX I think may be closer to actual volatility for today. Alright, let's so that's my preparation for today. Planning process. So my thesis for the day, first of all, looking for lower volatility that didn't necessarily play out. It's quite a trend this morning. And directional bias really no directional bias, there weren't enough shifts and levels to develop a directional bias. So really the the squeeze that began a couple days ago has continued. So let's take a look at some setups now and I'll just let's take a quick glance at the S&P 500 for the SPX for the last three days just to get some perspective. So here's the the sharp rally that began last Friday after the jobs report and maybe maybe running out of steam certainly out of put van a fuel. So the squeeze may be slowing down. And let's see what the low of the day low of the low was around right around 42 20 and trading now right around 4370. So pretty big three day rally. Or let's go take a look at some setups. Now I'm going to start with the S&P 500. This chart is the hero chart hedging impact real time options. And Bo J. Yeah, Tesla go up. We'll take a look at that. And in a few minutes when I get to stock. So I'm just start with setups. Now I'm going to start with the S&P 500. Like I usually do. This chart is the hero chart hedging impact real time options. This is available to spot gamma subscribers. What this chart is showing is price for SPX and the hero signal hedging impact real time options. This is a combined signal showing options trades and market maker hedging activity for SPX by XSP and ES futures. So if you trade any form of the S&P 500, this is the signal that you want to take a look at. Let's zoom in on this chart. And note a rising line indicates traders are taking positive delta positions. A falling line indicates traders are taking negative delta positions. So I'm going to first of all, take a look at the the warning session. And know what I have some have had some difficulty with this chart. Zooming. So I'm going to take a look at the warning session. I'm not going to spend a lot of time and it manipulating this chart. Note from the open traders taking positive delta positions. And that leveled off right around actually heroes started to level off before maybe around 1015 price continued higher. Alright, so let's go take a look at book map. Go back to ES futures. zoom in on the morning session here. So remember, traders at some point started to take negative delta positions that hero level turned off turned down. So really, the setup was a breakout of this consolidation, right around VWAP and this 43430 gamma level, right around here, the breakout just above that level. And note that aggressive buyers start to come in that shown by the green volume dots. Those are by minus sell market by minus sell green dot indicates the more buyers and sellers. And also as price started to move higher, kiln but cumulative volume delta shown with the dark blue line moved higher. And also the yellow line showing stop orders by stop orders, help to feel the move higher. So here by stop orders also showing them with the on chart indicator and the small green dots by stop orders fueling the move higher. So this squeeze this short squeeze by stop orders have been fueling the move higher for the last last three days. An initial target primary targets at upper daily expected move. And then above that the this 4375 resistance level also the upper weekly expected move. Alright, so that was the setup from the morning. It took little patience to wait out this chop but price frankly broke above these levels as aggressive buyers started to come in just before 10am. Let's zoom out and price continued on up to the 437 though. So let's go back to 437 though. So let's go back to hero. Zoom out look at the entire day. So options traders got back on board around 1045. And then as price was approaching above the above the upper daily expected move toward the upper weekly expected move, options traders started taking negative delta positions. And that really has continued and price finally started to move lower right around 1pm actually started moving slightly lower right around 1215 that move sharply lower just after 1pm eastern time. Let's go back to book map and note some very timely alerts here give you plenty of time for a to watch for short setup and watching for setups in the sp500 does require some patience. Alright, so here's the first of all this very mechanical. What's wrong tool? Just this very mechanical trend higher the squeeze higher than resistance at the 437 level making slightly slightly lower highs. Then price finally breaks lower as aggressive sellers start to come in. And options traders again start taking more aggressively taking negative delta positions. So price was above the upper daily and weekly expected move. Now maybe finding support down around VWAP. We'll watch and see what is what's happening in a minute. So those are the setups the uptrend of the morning. And then this reversal lower right around 1pm. Alright, let's take a look at NASDAQ. And hello, Derek. Welcome glad you're here. Alright, NASDAQ very similar pattern, some consolidation of the morning. For the first 20 minutes or so, then aggressive buyers start to come in, cumulative volume delta rising, bystop orders fuel to move higher. And note the stop orders level off. Kilometre volume delta starts to shift from bullish to bearish, starts to shift down. Same mechanical uptrend to finally a support resistance level that I talked about before, then aggressive sellers finally come in, just right around 1pm. Well, see what options traders were doing. So this is a combined signal for NDX and QQQ, just like the SAP 500, the SUAMIN. So net for the day, hero was rising although very choppy, rising up until about 1145, 1150. Let's see what traders were doing. So they were buying calls buying puts it looks like the put buyers more aggressive. But the stop orders and aggressive buyers in NQ, also the buyers in the magnificent seven were definitely driving price higher. Right, there's that. Sorry about that that I did not. That's nothing I did. So looking at it's just some kind of problem maybe with Chrome or something I'm not sure. So anyway, options traders taking positive delta positions net up until about 1145, then that shifts lower. Right, let's take a look, go back to book map. Alright, so I've already talked about the order flow in NASDAQ here very similar pattern to the SAP 500. Let's take a look at some stocks. So yesterday I talked about Meta, Nvidia and Tesla and traders were aggressively aggressively buying those stocks, aggressively buying calls selling puts. Yesterday, see, I believe. Well, anyway, traders were trading Meta, Nvidia and Tesla. Yesterday, same stocks today, bullish today. Alright, so let's take a look at hero and see what options traders are doing. We'll start with Meta, zoom in. First of all, we'll note the key gamma levels spot gamma levels. Here's the call wall at 320. There was some chop around that level earlier today, then around 1030 price broke above that level. Let's see what traders are doing. Let's just zoom in on this. So they were really sorry about that. I just can't do that. Anyway, they were up until about some of between 1045 and 11 buying calls selling puts. And as this hero levels off and starts to drop, in other words, options traders taking their foot off the gas, price moves lower. So price was trading above the 320 call wall. And that that kind of call wall breach, especially early in the morning for a stock can help fuel the rally higher as price trades above all those calls at 320. Those calls go further in the money. So spot gamma assumes for a stock traders along calls, market makers are short calls. As those calls go in the money and traders continue to take positive delta positions, market makers need to continue to buy stock to hedge their delta exposure. So that what that can happen with a call wall breach, especially earlier in the day, as traders take positive delta positions, that can help fuel a rally higher. And the price targets above the 320 actually when price broke above the 320 level, these higher liquidity levels were price targets. This is the heat map and book map showing a history of resting limit orders in the order book above price. Those are limit sell orders. They tend to attract price and note the main target at 325 meta dot reach that level this morning, maybe trying to get up there again. All right, let's go take a look at hero again. So before it jumps on me again, traders taking positive delta positions in the morning, take the foot off the gas price finally responds lower as traders start taking negative delta positions. And now right around 115, they've started taking positive delta positions again, and prices moving higher. Alright, the next is Nvidia. Nvidia note the target at the 460 call wall. And then here's the 450 key gamma strike. So price traded above the 450 key gamma strike with this call wall as a target. Traders were buying calls and selling puts that shown by the rising orange line, the rising blue line, both positive, indicating positive delta positions and note this pretty typical behavior as options traders take their foot off the gas, the hero line levels off, so does price. And that typically happens right around 12 noon. Let's go take a look at book map. 12 noon Easter time. Let's go to book map. We'll take a look at Nvidia. Alright, so Nvidia was certainly as well as meta certainly helping to drive NASDAQ and the SMB 500 higher today, those are large components, especially Nvidia price sliced above the 460 call wall here. Then it leveled off as options traders started taking started took their foot off the gas right around noon. And now is consolidating maybe between 458 and 460. Let's see what options traders are doing now. We can get hero to stay still long enough. Alright, so they're still taking negative delta positions. So if I were looking for a long, I would look for the hero line, the purple line to, to tick up to move up pretty decisively before taking along. Alright, let's take a look at Tesla. Alright, so BoJ, BoG. Here's Tesla. Alright, Tesla, pretty similar story. In the morning, traders taking positive delta positions, shown by the rising purple line. We point out some levels on this chart. Here's the 270 call wall, which was the target at Tesla did not make it up there 260 is the key gamma strike. And similar story to Nvidia, options traders take their foot off the gas here a little bit earlier 1120 1130. They start taking negative delta positions and Tesla moves lower and continues to move lower. So if I were looking for a long again, I would look for options traders and start taking positive delta positions. Let's go take a look at book map. Alright, remember, for Tesla, let me make sure I got that right. 260 is the key gamma strike 270 is the call wall. No, I'm still on video. Sorry about that. 260 the key gamma strike. Very aggressive move higher in Tesla. You would have to be ready right at the open to trade Tesla to catch any of this. Alright, so here's the 270 call wall. 260 key gamma strike price slice right through that level. 270 call wall. Tesla quite did not quite make it up there. Very aggressive move higher in the morning. Don't all the aggressive buyers coming in. All the green volume dots confirming that move higher. Alright, BOG, hope that call is working out for you. Alright, does anyone have any stocks they want me to take a look at? Let's go back and take a look at the SB 500 and NASDAQ now. Alright, so the SB 500 still stuck in this consolidation. Let's see what options traders are doing. The SB 500. So options traders continue to take negative delta positions that started around 1115. Sorry, wrong tool. Let's just let's see what they've been doing today. Alright, so traders, this is pretty typical for the SB 500 are buying calls have been buying calls that shown by the orange line positive notional value and note that activity really stopped about 1115. Call buyers took their foot off the gas and then really started to buy puts shown by the falling blue line right around 1030. So put buyers more aggressive than call buyers today and net for the day. The total signal is negative negative notional value 2.88 billion negative. Alright, let's see what they're doing with zero DTE that shown by this green line here. The green line is showing next expiry options trades and for the SB 500. Those are options that expire at the end of the day. Today's there's zero DTE options and that's making up looks like a little bit over half of the total notional value for today. So zero DTE trades a large component of the options notional value today. So let's go back to the total. So the purple line is showing all expirations. Let's take a look and go back to the book map and note for the day that large traders have been selling pretty continuously fading those smooth hire with iceberg orders that shown by the falling light blue line. Large traders use iceberg orders to hide their size and cumulative volume Delta has been falling since right around one PM eastern time and note that the stop orders that fueled the move hire these by stop orders this short squeeze hire has started level off really right around noon as price consolidated then move lower. Alright so we know that the put van a fuel has been pretty much used up options traders have been taking negative Delta positions since around 11 I believe and then large traders have been selling had been fading this move hire with iceberg orders and then also the aggressive buyers have turned into sellers right around one one PM eastern time and then the stop orders again that have fueled the move hire have stopped. Alright so really the question now is will the S&B 500 find support at VWAP or all the forces that I just talked about helped to fuel the S&B 500 below VWAP. Let's take a look at NASDAQ so very similar story and order flow here. Large traders have been fading this move hire with iceberg orders Kimlet to volume Delta actually started to shift lower just after 1130 then more aggressively lower and has now shifted to negative for the day shown by the shift from the dark blue line to the pink line a magenta line looks like so far for NASDAQ the VWAP shown by the blue line there is not holding. Let's see what options traders are doing for NASDAQ so in the case of NASDAQ the options traders really they started taking positive Delta positions right around one then that's leveled off not really having a lot of impact on price. Let's see what they have been doing for the day so net for the day they have been buying puts also buying calls but buyers a little bit more aggressive notional value for today slightly negative minus 1.85 million let's go back to book map well it looks like NASDAQ may have found supportive VWAP after all so maybe these options traders are finally having an impact on price the options traders started taking negative Delta positive Delta positions right around one that activity leveled off let's go back to book map though it looks like NASDAQ still stuck in a consolidation between VWAP and NQ 15,300 right high profit take profit hello welcome glad you're here ask what what is the meaning of the yellow dot and hero so let's go take a look at that and then we'll wrap it up let's go back to the S&P 500 so what these yellow dots are are flow alerts indicating significant options and hedging activity and you would really have to take a look at the Brent the founder of spot gamma did a presentation on this a couple weeks ago when these flow alerts went were released to all spot gamma subscribers though they came out of beta and were available to all subscribers alpha subscribers that had access to hero so let's take a look these alerts a line with these alerts shown on the chart so for example let's see I don't know what might have some significant options activity I think this is Lockheed Martin yeah Lockheed Martin defense stock in play the last last couple of days so traders are selling calls selling puts shown by the positive notional value for the blue line negative notional value for the orange line both pretty small numbers but those those alerts appear on the chart also on the alerts here let's just take a look at one other let's see if we can find something else that may have a little bit more options activity they'll not really all right let's just go back to let's take a look at spy spy there are a number of alerts I don't know if that's correct or not sb 500 more alerts all right so that's those what those are the alerts they coincide with the alerts shown here all right let's take one last look at the sb 500 and book map NASDAQ still not consolidation the same for the sb 500 between VWAP and the upper daily expected move all right my time is up I want to thank everyone for watching thanks for your questions and comments and remember the data for the week really begins tomorrow with ppi at 8 30 a.m eastern time and the fomc minutes at 2 p.m which come out during my session all right thanks everyone for watching thanks for your questions and comments and I will see you tomorrow thanks again bye