 Hello everyone, welcome to options with Doug Before I go any further. I do need to make an announcement Beginning today. My streaming schedule is going to change. I will only be streaming on Monday Wednesday and Friday So there will be no streams on Tuesday and Thursday. So three days a week same time Monday Wednesday and Friday 1 30 p.m. To 2 30 p.m. So welcome to options Doug With Doug streaming three days a week Monday Wednesday and Friday and Questions comments are welcome. I'll go over my contact information in just a minute So if you have any questions comments concerns about this new schedule, please feel free to contact me all All comments questions are welcome Before I get started I need to go through the disclosures General disclosure all book map them in a 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 investors Pass performance is not necessarily indicative of future results So here's my contact information the best way to get in touch with me is through discord main name on discord is Doug P Also in book map discord. There's an options to ask Doug chat channel That's a great place to post questions comments and content Related to the topics of my presentation and the topics of the channel that I'll go through in just a moment I'm also on X for me known as Twitter and Again, my name there is at Doug plus Here the key tenants to my approach for trading. This is the basis of my approach for trading I believe that options trades and market maker hedging activity or key driver surprise in many stocks and futures and Certainly the large cap tech stocks that I follow the magnificent seven as well as the equity futures equity index futures S&P 500 and NASDAQ and For the S&P 500 SPX is the underlying index spy is the ETF version of that index and ES is a derivative of SPS and when traders buy and sell puts and calls in SPS and spy Market makers take the opposite side of those trades and they hedge their delta exposure with the S futures 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 so when traders buy and sell puts and calls and Ndx Market makers take the opposite side of those trades and they will hedge their delta exposure with the NQ futures The focus of my presentation today and the focus of the option stash 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 at 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 As well as the directional bias As well as the directional by directional bias and the second step in my process is execution I look at real-time order flow and book map and real-time market maker hedging flow and spot gamma hero to confirm my thesis That's important for today and for setups or entries and exits All right, so when I'm talking about setups today, I will be focusing on the underlying asset For example in the SB 500 setups can be taken with ES futures spy shares spy options SPX options or even ES options So the setups that I'm talking about will it be appropriate for all those versions of the SB 500 Questions and comments are welcome and I will be watching both the options stash jug chat channel and discord as well as the chat and YouTube for your questions or comments Please feel free to post. I'll do my best to answer your questions All right, Steven welcome glad you're here and Steven asks. What is the reason for the change in schedule? Book map wanted to make a change to the schedule. They're just modifying their Streaming schedule. So that's what they wanted to do. So that's fine with me. I do this to Well, I you know again questions a comment to welcome I do this because I enjoy the interaction and I enjoy helping people Introducing them to this new approach to trading So any again any questions concerns comments are definitely welcome All right, here's my gentifer today Monday, April 1st 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 through 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, so let's start with economic data and events first of all today ISM Manufacturing PMI data came out at 10 a.m. That was greater than expected also greater than the previous number Let's just take a look at the SB 500 and there did not seem to be much of a reaction really to that data coming out at 10 a.m maybe But the SME 500 along with Most everything else the NASDAQ for sure was already moving lower after this initial move up just at the cash open So there's the 10 a.m. Data and not much of an impact all right for the rest of the week on Tuesday There's no high impact data on Wednesday The ISM services report comes out at 10 a.m. And then Jerome Powell will be speaking at 12 10 p.m. Eastern time No high impact data on Thursday and then the big data release for the week is the jobs report That's on Friday 8 30 a.m. Easter time and There are also a wide variety of Fed speakers throughout the week All right, so this is the SB 500. Let's move on to positional analysis now This is the SB 500 futures ES futures and book map before I take a closer look at this chart I want to step back take a look at a larger time frame and I'm going to start with the SPX the underlying index This is a one-day chart for SP X The current rally began last year October 30th so far SP X has rallied Over 1,150 points from low to high during that rally All right, so that's a one-day chart. This is thinkorswim Now let's take a look at a one-hour chart Just so we can take a look at that top of that uptrend So there's the green line marking the uptrend from From low to high So it looks like last Thursday SPX made a new high all right the During the this year 2024 the call wall SPX call wall has moved up from 4,800 all the way to 5,400 that's bullish and then now back down to 5,300 More about that in just a minute. All right, so let's let's move on to the levels now All right, so the levels on this chart first of all the Dash purple lines are showing the lower and upper weekly expected move that's based on the options market It's based on the closing price from the previous week in the case of this week when Friday was a holiday That was the closing price on Thursday So again that's based on the options market those levels remain in place for the entire week Then the dash blue lines are showing the lower and upper daily expected move. That's also based on the options market Note that SPX traded down to the lower daily expected move today And again, this is based on the closing price in this case from from Thursday, and I do post these numbers in The options dash jug chat channel and discord every day All right, so the other lines on this chart are spot gamma levels. Those are the red lines These levels are based on gamma weighted open interest spot gamma takes open interest data. That's provided by OCC They apply their algorithms to that data to come up with these levels again this based on gamma weighted open interest I'm going to point out the key daily levels first of all The put wall at 4,800 that's a strike where the largest net negative gamma that can be expected to act as support The next level up is 5,000 that's the absolute gamma strike. So that's where most of the gamma weighted open interest is concentrated. That is the strike with the absolute Positive and negative gamma the highest absolute positive and negative gamma right then above that is The volatility trigger at 52 45 That's this vt here that is spot gamma's proprietary Volatility flip level below that level market makers position on the gamma curve is negative in a negative gamma environment Market makers have to trade with price to edge 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 edge of their delta exposure and that tends to Subduer decrease volatility and note that SPX is trading below its volatility trigger today and Then finally 5,300 is the call wall that I mentioned before That's a strike where the largest net positive gamma that can be expected to act as resistance and again that level did move lower from Last week on Thursday. It was at 5,400 and moved down to 5,300 today So today the call wall move lower and the volatility trigger and put wall moved higher So really I place a little bit more weight on The move down and the call wall that's more in play than the put wall Closer to price All right, so again volatility trigger put wall shifted higher call wall shifted lower All right, let's wrap up our view of SPX with a one-minute chart So we can get a close look of the levels and play for today All right, so this is about two and a half days worth of data. Here's the top of that trend line and Note that SPX has been moving down Pretty much all day just a few minutes after the open Making a series of lower highs until finding support at the lower day. They expect to move and Note now SPX is training below the 5,245 volatility trigger. All right, let's take a look at book map Then book map. I have my own cloud notes so I can show SPX levels So there's the SPX volatility trigger at 5245 I'm also showing spy levels on this chart This is just a round number. It's not a spot gamma level, but it has definitely acted as support today the 521 level And there's the spy 522 volatility trigger zero gamma level So right now the SB 500 is trading Below both volatility triggers for spy and SPX All right. No, there's a difference between price and ES that ES offset today is similar between 53 and 54. I'm using 53 So I'm showing the volatility trigger See where is that? That's the SPX 5245 volatility trigger at ES 5298 All right, so here's the So again, I have spy levels in my own cloud notes SPX levels there's spy level SPX levels and Then also key levels for ES lower day They expected move and there's the big round number the 5,300 so around this 5,260 level combo 3 level Price isolated around that level made a series of lower highs and then finally after the the final test of a 52 the 5,260 level move lower Game now ask all level are all levels from spot gamma the The gamma levels are so any label in white That's a spot gamma level There's the again the spy volatility trigger at 522 SPX volatility trigger then I have round number levels on this chart. There's the spy 528 521 and Also key levels for ES lower day They expected move big round numbers the zeroes in the fifties So again my color coding the way I look at this as I have the spot gamma levels shown in white And I use my spot gamma does provide cloud notes for book map and other trading platforms I prefer to have my own notes So I can show additional levels all in one column. All right, so that's the SMB 500. Let's move on to Nasdaq Oh for spy shifts and levels The volatility trigger shifted higher just like SPX and for spy the call wall actually shifted higher to 530 SPX put wall shifted down to 5300 spy call wall moved up to 530 So more more in line and you're welcome game now. All right, so here's the Nasdaq In Q futures and book map and again before I take a closer look at this chart I do want to take a quick look at the underlying index charts. Here's QQQ 447 some chop around that level then acting as resistance then resistance at 446 445 and then finally support at the 443 zero gamma level and Note now QQQ is trading right around its volatility trigger at 444 444 All right, so round numbers in play for QQQ today. We'll take a quick look at NDX not so much Just to be complete here in DX big gap up today and Then series of lower highs All right back to NQ futures Again right after the this big whoosh up at the cash open NQ started to make a series of lower highs and then broke lower Finding support at the QQQ 443 zero gamma level All right, so just like Yes, I have my own cloud notes so I can show QQQ levels again, there's the 443 zero a gamma level 444 volatility trigger also in DX levels There are the two levels that were shown on the the previous chart combo one level combo four level And then finally the big round numbers for NQ There's the 600 level Acting as resistance Also the upper daily expected move NQ did trade briefly above its upper daily expected move today All right shifts and levels for Nasdaq there were none in in DX and the only shift higher For QQQ was the call wall shifted higher. So just like Spy the QQQ call wall also shifted higher up to 460 So according to this there's plenty of room to run higher for Nasdaq according to the QQQ call wall All right, let's wrap up Positional analysis, let's take a quick look at gamma notional This is market makers position on the gamma curve at the beginning of the day I check this every day for the SP 500 and Nasdaq. So this is at the beginning of the day This is showing that for the SP 500 SP X and spy market makers position on the gamma curve at the beginning of the day was Was positive So in a positive gamma environment market makers spot gamma assumes that traders are short calls Market makers are long calls since the positive gamma And they have to trade against price to hush their adult exposure and that that may no longer be the case because SP X and spy have moved below the volatility trigger and the Vanna model is in play with VIX rising and price falling and For QQQ that number is negative At the beginning of the day QQQ negative So in this in this case on this portion of the Gamma curve Spot gamma assumes that traders are long puts market makers are short puts and they has the negative gamma They have to trade with price to hush their delta exposure Let's just take a quick look at the Vanna model And I'm going to skip over the Explanation of this other than to show the purple curve shows How market makers delta notional may change with changes in price and applied volatility as the Vanna fact Right now SP X is trading right around 52 35. So right around here Where I'm holding Right around here. All right, so it's price moves lower Implied volatility increases Market makers delta notional increases and they have to sell futures to hush their delta exposure All right, so that's that's what's happening with Vanna model. So the Put Vanna works both ways so in this case is Price is falling VIX is increasing this is VIX for today Dark shaded areas the 930 the cash session today. So VIX is up just right around 8% today Price falling VIX rising market makers delta notional will increase That's shown by the purple curve as well as the That's again shown by the purple curve So market makers in this case on this portion of Vanna model are trading with price to hush their delta exposure All right, so let's move on. So my thesis for the day was Really kind of mixed so the call wall shifted lower for the SP X shifted higher for Spy and QQQ also with the volatility trigger and put wall also shifting higher for SP X I would say my thesis for today was slightly Neutral bullish and that certainly did not play out today. All right, so let's move on to Execution now live data. So everything that we've looked at so far other than Book map is based on static data that's updated once a day Spot gamma takes open interest data. They apply their own algorithms to that data to come up with the levels that That the spot gamma levels that change every day. So again, I'm following the how they change also Where they are in the chart All right, so now let's move on to execution move on to real-time data So the first thing that I always want to do is take a look at what options traders are doing So this is the spot gamma hero signal hedging impact real-time options This is provided to spot gamma subscribers. What this chart is showing is Real-time options trades and market maker hedging activity for a combined signal of SP X spy Xsp and ES futures. That's all under one combined signal The white line on this chart is priced for SP X. This is a day chart We zoom just a little bit So this is showing and I have it set to show from the cash open 9 30 a.m. Easter time So the white line is priced for SP X And the purple line is the hero signal a falling hero signal Indicates traders of taking negative delta positions. They're buying puts and or selling calls Market makers take the opposite side of those trades and they hedge their delta exposure by selling ES futures The rising hero signal indicates traders are taking positive delta positions They are buying calls and or selling puts Market makers take the opposite side and they have to buy futures to hedge their delta exposure All right, I'm going to zoom in on this chart and I'm going to focus on the The setup that I've talked about Several between 10 10 to 10 0 5 10 15 So notice initially Hero signal was rising Note these flow alerts They can often act as mean reversion signals. So a couple of flow alerts Traders start taking negative delta positions and heroes starts to make lower highs and SB X start the SB 500 starts to move lower As traders are taking negative delta positions. All right, so let's go take a look at book map Look at the confirmation signals in book map for the short setup And just a note when I'm trading I'm watching three screens at the same time I Have book map on my main screen my center screen and then I have hero on another screen And then I have my trading platform whatever trading platform. I'm using on another screen on the right screen All right, so let's zoom in We'll go all the way from 9 30 to noon All right, so again, we know that traders are taking positive delta positions from the cash open also aggressive buyers We're buying ES that's shown by the volume dots in book map the volume dots show Market buy minus sell Green volume dots indicate more buyers than sellers Magenta dots indicate more sellers than buyers. So aggressive buyers on the way up They're exact. They become exhausted Aggressive sellers start to come in SB 500 makes a series of lower highs Finally reversing right around this this 52 60 level as The SB 500 continues to make a series of lower highs All right, let's take a look now at the sub chart What this falling light blue line is showing is that large traders were selling With iceberg orders and that sharded that started just right around 950 something like that Large traders use iceberg orders to hide their size and you can see one With the on-chart indicator That's showing 327 contracts to executions that that's not large But it is and in Indication that large traders were selling with ice for waters All right, so we know traders were taking negative delta positions aggressive sellers Shown by the magenta volume dots also the falling Cumulative volume Delta that shown by the dark blue to magenta line And then also cell stop orders fuel the move lower that shown by the falling yellow line also the on-chart indicator Cell stop orders fueling that move lower until the SB 500 finally found support at The spy 521 level. All right, so that's the SB 500. All right, let's go back to hero All right, one thing I want to do is separate outputs and calls and let me zoom it now I'm gonna have to jump jump back to avoid the auto zoom All right, let's zoom in on this. All right, so what this is showing is The orange line shows calls So from the open traders are buying calls That lasted until about 955 10 a.m. Call buyers took their foot off the gas Started up again a little bit around 1040 but basically aggressive buying calls for about the first half hour So when traders buy calls market makers sell the calls and they have to buy futures to hedge their delta exposure And they were also buying puts that shown by the falling dark blue line So the direction of these lines are in terms of options Delta So traders were buying puts from the open also buying calls 955 call buyers take the foot off the gas Continue to buy puts and price moves lower So notice right around 1040 Put buyers take the foot off the gas And they start buying calls again But this is the setup that I'm focusing on right here right around 10 a.m. Short again call buyers foot off the gas Continue buying puts price moves lower Game now I ask how do you know the exact moment call buyers stop? Well, you can just see on the the slope of the line here. Yeah, it's not exact but Orange line rising that's showing calls calls only for about five minutes 955 to 10 that line levels off Then they start selling calls The line levels off again So I know as long as the orange line is rising Traders of buying calls if the line levels off, they're not buying or selling and if the line Falls they they are selling calls. All right, so that's the sb-50. Let's move on to Nasdaq now And for the Nasdaq I like to take a look at this mag 7 signal So let me show you what this is This is another combined signal In this case for the stocks known as the magnificent seven Apple, Amazon, Google, Maddup, Microsoft and Vidya and Tesla these stocks make up a very large component of the Nasdaq 100 and their key drivers of price especially in the Nasdaq 100, but also the sb-500 All right, so let's zoom in on this chart Puts and calls separated. I'm going to zoom in All right, so in this case from the open Really just up until about nine nine forty. They were aggressively buying calls Also selling puts that shown by the rising blue line So right around nine forty call buyers become call sellers Right around nine forty five the put sellers take the foot off the gas and price moves lower So in this case the call sellers were driving price just after that first 10 to 15 minutes push up Let's I'm going to shift back to the total signal. It's a little bit easier to see here I'm going to have to jump jump back. So again, this is just combining puts and calls into one signal This is just a fantastic divergent setup. This is my My favorite setup. So the hero line shifts lower And price levels off that really doesn't start to move significantly lower and this is price for kukuku That's shown in terms of price for kukuku So hero signal shifts lower right around 940 and then right around 1015 Price really starts to move lower Giving you plenty of time for a short setup there Great divergent signal now. Let's go take a look at Nasdaq All right. So whether I'm trading in queue or Kukuku this is I look at the Nasdaq chart in the NQ chart Well, let's zoom in on this And I'm still on the s to be 500. Sorry. Let's go to Nasdaq. All right Nasdaq We'll zoom in All right. So there's that quick move up His traders were taking positive delta positions Right around 940. They start selling calls They stop selling puts Nasdaq starts to make a series of lower highs. There's the last High lower high in this kind of cluster here right around 1015 and then price starts to move significantly lower That's at the upper day. They expected move For NQ Again volume dots Aggressive sellers start to come in so aggressive buyers on the way up Find exhaustion at the upper day. They expected move before resistance was the NQ 600 level cumulative volume delta shown by the dark blue to magenta line falling and And then as price starts to move a lower sell stop orders fuel the move lower down to the 440 30 gamma level all right, so there's a Very nice divergent short in Nasdaq All right, let's take a look at some stocks We'll start with AMD AMD was one of the stocks helping to drive that That quick move higher at the open we shift back to puts and calls So again for mag 7 Start selling calls stop selling puts price moves lower. Let's go to AMD So in the case of AMD fairly similar scenario Rising orange line traders buying calls rising blue line Trader selling puts Start selling calls Take the foot off the gas with puts Price moves lower. So really two ways to play this This long if you're fast in the morning if you like to trade the open Quick flash move up and then more of a grind lower. Let's go back to book map So there's the quick move up to 187 Note the high levels of look levels of high liquidity in the order book Typically in the larger higher price stocks at the the zeros and fives So this is the heat map and book map showing a history of the limit orders in the order book So those are a bar price or limit sell orders note the there's also limit buy orders at 180 and then the Sellers at 185 came back in looks like AMD may be moving back up to that level So quick move up Grind lower as traders options traders took the foot off the gas All right, the next is Google Mateo. Hello. Welcome. Glad you're here Ask what is hero? I'm going to watch this video a few times. Great. I learned something new every day Thanks for the video. You're welcome and Thank you for your comment. All right, so let's go over hero again So let's move on to Google All right, so first of all hero is something that spot gamma developed This is available to spot gamma subscribers Hero stands for hedging impact real-time options So what this is showing is options trades and market maker hedging activity in real-time for There's a wide variety of instruments here. I'm showing the hero signal for Google There's a total line and then I have in this case Calls and puts separated out so I can show And this is typically how I look at stocks so I can show that Calls definitely were driving price early in the morning first 15 20 minutes Rising orange line indicates traders were buying calls aggressively buying calls when market makers When traders buy calls market makers sell the calls and they have to buy stock to hedge their delta exposure So again rising orange line traders buying calls market makers sell the calls I'm talking about options market makers and they have to buy stock that has to the delta exposure so their only job is to make markets and hedge their Directional list their delta exposure All right, so calls definitely driving price for AMD in the morning Call buyers pretty quickly take their foot off the gas and AMD consolidates Net for the day they are buying puts but that line leveled off Right around 1130 so now looks like they may have started buying calls again show them of the rising orange line Let's go back to book map Quick move up like some other stocks like AMD Call buyers take the foot off the gas right around 155 And now AMD is consolidating around that level. I'm sorry Google Google consolidating around that level. Thank you You're welcome madame All right, let's take a look at the next stock meta Another quick move up for meta in the morning. This is very typical price action for meta aggressive call buyers come in in the open For about the first 15 minutes We'll see what options traders are doing so go on to meta Call buyers just like Google and notice today. They're taking their foot off the gas pretty quickly This is just around 945 Call buyers again take the foot off the gas not doing much with puts today Initially, they were selling a few puts Now that line has pretty much leveled off And that is consolidating note that 500 is the call wall key gamma strike Also note there were some alerts in the morning these signals significant options activity This is a big part of my process for the day watching in the first few minutes for these flow alerts for To get my attention, you know, look at something looking for a setup And so this is showing again significant options activity. I'd rather be trading a stock that has that Again significant options activity in that that key driver for price. All right, so that's meta Let's take a look at Nvidia a little bit different picture for meta and video today so meant a little bit So more flow alerts again note the flow alerts Are shown on the call line That doesn't necessarily signify that the these alerts were called with calls. That's just how Spot gamma shows these lines. So really here in the case of Nvidia price, I think it's pretty clearly driven by calls But the flow alerts aren't not necessarily indicating that just indicating significant options activity Let's zoom in just a little bit So initially traders were taking positive delta positions Rising orange line buying calls Rising blue line selling puts They start selling calls and the put sellers take their foot off the gas Right, so let's go take a look at book map go to Nvidia Quick move up Nvidia makes a series of lower highs Then moves lower Note the similarity between this chart and the Nasdaq chart Nvidia is a key driver of price for Nasdaq lower highs wedge Nvidia breaks below VWAP there at 915 just below 915 That's VWAP that light blue line All right, let's go back to hero so notice as The call sellers finally take their foot off the gas Right around 1215 Nvidia consolidates may be trying to to move higher Or let's take a look at Tesla Tesla was weak from the open today Unlike a lot of other stocks that we just looked at that had big moves up for the first 15 minutes Tesla was weak today and notice Traders were selling calls from the open that Accelerated around 10 a.m. Also buying puts Blue line orange line moving in the same direction That's a very powerful directional indicator again in this case both moving down it's hard for price to move Any any way other than down when both the blue line and the orange line are moving the same direction All right, so let's go take a look at book map. Let's go to Tesla All right weakness in the morning for Tesla Note all the magenta volume dots there cumulative volume Delta falling Turning from positive to negative and then right around 10 a.m traders start more aggressively taking negative Delta positions and Tesla moves lower All right game now asked. Do I have a video on my book map layout? No, I don't I I'll be glad to answer any specific questions So just let me know if you if you have if you have again specific questions about About my book map layout what I'm showing All right, does anyone have any stocks they want me to take a look at? Let's go back to hero All right, so again, you can see right around 10 a.m They'd already been buying puts shown by the following blue line 10 a.m The call line starts to move lower and then price moves start to move lower All right, anorag wants to take a look at Nicole. I think we looked at that last week Sure, we can take a look at I think was trading around a dollar. So let's we'll try All right, so trading just right around a dollar today Pretty minimal pretty minimal options activity 539 K minus so they are selling calls Not sure why you would want to sell a call on a $1 stock And one one is the call wall key gamma strike and hedge wall. All right, Mara wants Mateo wants to take a look at Mara sure So this is one of the Bitcoin related stocks Bitcoin miner quick move up traders were buying calls That quickly shifts they start selling calls Price moves lower So still pretty pretty low numbers today As far as notion of value Calls minus 1.67 million so we can just compare that with something like Nvidia calls mine hundred minus 560 million So in the video they are Selling calls also selling puts pretty equal numbers But it looks like the call sellers Have been driving price You're welcome game now. I suggest For learning more about book map go to the book map learning center That's a great place to get started a lot of new videos there So again start at the book map learning center And then if you have specific questions for a beam up about my setup, I'll be glad to to answer All right, let's take a look Yes to be 500 I'm gonna go back to the total signal here So I'm gonna have to jump All right, thank you Steven Posting a link to the and maybe you can just post a link to the learning center or I'll do that later If you have a moment. All right, so kind of an up and down Signal for the SP 500 today, let's take a look at Nasdaq Right, so this is a combined signal for NDX and QQQ not a lot here. Let's go to mag 7 Again big move up in the morning Traders quickly took their foot off the gas then right around noon. They started taking positive double positions Now Nasdaq is consolidating All right, I'm gonna zoom out So let me talk about my my process a little bit So first of all I can look at different stocks in equity hub to see the key dating levels I do that every day to DCL see how the Key dating levels the put wall call wall key gamma strike hedge wall for stocks how those levels are changing and then I also Watch for these alerts So this is how I have heroes set up in the morning. So I'm watching for alerts and notice I've pointed out quite a few of the stocks There's a lot of the alerts come in right at the open Something to get my attention where there's significant options activity Those are the stocks that I want to look at and those are the stocks that I want to trade. All right, so now let's Let's take a look at this Latest signal. This is the hero signal for Amazon latest flow alert Coming in right around 120 So far not much of reaction to that the hero signal is still moving lower. Let's take a look at IWM Not much there. One thing that spot gamma has pointed out when you see a lot of flow alerts could Congested like that and not much moving. That's an indication of a Narrow trading range chop Something that I'm not really interested in trading. Let's move on to spy pretty flat price action AMD flow alert They came in just after one So let's take a look at AMD. It looks like it may be moving higher one thing that you can do with this hero signal is Zoom in a bit. So I'm just scrolling my mouse wheel that provides more clarity about this signal So in this case the hero signal Acting as a mean reverting signal When there's a significant shift from positive to negative or negative to positive in this case Hedging flow Can be a great signal for a potential reversal higher Like is shown here. So let's go take a look at AMD that happened at 107 108 So let's go to AMD We'll zoom in. All right. So the hero signal comes in as AMD was moving higher a lower AMD find support So this gives you time to look for a long setup if that's what you're looking for Aggressive buyers start to come in show my the green volume dots Now AMD moving higher back up to the 185 level again that alert getting your attention In this case acting as a very good mean reverting signal. All right last call for stocks I've got about a minute left All right mag 7 hero signal starting to move higher check SB 500 All right. So now SB 500 starting to move lower. Let's just check check ES futures See if that could be a short setup back to book map Yes, all right, so we know the hero signal started to shift lower potential resistance At the spy 522 volatility trigger some aggressive sellers starting to come in shown by the magenta volume dots All right, let me check for questions Anirag asks, what are the chances that ES will go above the 5297 today has tried all day? Don't know so if traders start taking positive delta positions And ES can make it through all this liquidity shown by the a history of the limitors in the order book Then maybe 5297 is in the cards. Let's go back and take a look at hero So unless the hero signal starts to shift higher, I would not be looking for a long at this point All right, everyone. I want to thank you for watching. Thank you for your questions and comments Remember no stream tomorrow. I will be back on Wednesday again any thoughts questions comments Please feel free to post them in the option stash jug chat channel or contact me by direct message at Doug P and I'll see you on Wednesday. Everyone. Have a great afternoon. Again. I'll see you on Wednesday. Bye