 Right now, we're going to go over to our man, Mr. Dave Mazza. Dave is the head of product and the managing director at Direction, because the bottom line is that they got a lot of good new news out here, and Dave's been staying busy. Dave Mazza, welcome back to TFNN. Hey, happy to be back with you. Well, let's talk about, I mean, I have these up, you know, we've got the single stock futures now, we, I mean, equities, we've got Apple, we've got Google, we've got Microsoft, and we got Tesla, right? Yeah, and Amazon as well. And Amazon, how did I miss that? Where? Oh, yeah, exactly, on Amazon. Wow. Okay. So you get the kings of the NDX100, that's for sure, right? Yeah, exactly. Exactly. Top five stocks. Exactly. So can you walk us through, let's take Amazon, okay? Because so you can walk us through exactly how this works. I'm reading, you know, on the bear side, it's one times, and on the bull side, it's 1.5. And that's how they all work, Dave, right? Is that correct? Yeah, that's correct. So there's five stocks with 10 ETFs. So to your point, the bull fund is one and a half times the exposure on a daily basis. The bear fund is that one times exposure on a daily basis. So they're structured in an extremely similar way to our index-based ETFs like SPXL, that's for the S&P 500. But in this case, the underlying exposure, what's being amplified is a single security. And we decided, as we were talking about a moment ago, to first bring them out for the five largest, most liquid securities in the NASDAQ and the S&P 500 and even in the world, to give traders the opportunity to express their views on a short-term basis at the single security levels. I see. Okay, cool, man. So, and this gets intriguing too, because the aspect is there's plenty of folks that no doubt don't trade options, absolutely don't trade futures. So this is a nice way that you can get some leverage, because there's plenty of folks that trade a lot of equities but just have not got into a leveraged product, so to say, do you know what I mean? So, and in these also, Dave, right, I just want to reiterate for all the listeners, these are daily investment vehicles, particularly the 150S. So how does the one-to-one actually wouldn't have to be, huh? So you really got to think about these to your point as daily investment vehicles, because we are offering that exposure on a daily basis. However, I think there's different use cases for the bull fund versus the bear fund, and they may even be different use cases than what we see with the SPXL and the SPXS, for example. So specifically, that one-and-a-half times on a daily basis, that's really, if you want to express a viewpoint on a short-term basis that Tesla, Amazon, Apple would have you, it's going to be up that day, and you can monitor that position. This could be a great tool for you as opposed to going out and trying to structure an option straight. You can own it for more than a day, but you have to make that decision that day. This is not a sudden and forget it. I want to be explicitly clear about that over the long term, because they're not going to match perfectly in any way, shape, or form, like any leverage university ETFs. On the bear side, though, at the inverse 1X, you're not going to have the negative compounding that can come into play with higher leverage points. However, you still need to be able to monitor it on a frequent basis. What we're seeing there is a lot of folks have long-term capital gains in Tesla, long-term capital gains in Apple, that you're concerned and Apple's ripping up over 4% today, so you might not want to be hedging it. But people are concerned, hey, is this iPhone 14 going to be anything good? Are people going to want it and have a better camera would have you? Maybe you don't want to sell that, and you want it to hedge that position over a handful of days. AAPD can do that. So kind of two different ways of thinking about these compared to traditional leverage university ETFs. Folks, what Dave just went through, this is really cool now, because it'll be very easy also. The folks know I have a Bloomberg, so in two seconds I can hit a couple of buttons as you can. It'll tell us how to do it, right? What's so cool here, Dave, right? I get it, man. So because the bottom line is that you can turn, let me ask you this, is it a one-for-one, like if I had 500 Apple shares, right, and then I would 500 bear shares, would that be a one-for-one? Well, you'd have to look at the price, right? Apple's, I think, 161 today, the APU APD somewhere around 25. I don't have my screen out in front of me. But yes, you could structure that. Again, you don't need calculus on this one, pretty simple math. Exactly. I think that's your point. Right, it is. To get that one-to-one. Right, which is really... But you got to know the prices. No, totally. And then folks, what does happen? That just means you're dealt a neutral. And then that's another decision you make. Say, listen, a big announcement's coming up. I'm not going to make money or lose money. And what's really cool about that, folks, is that it's the announcements that... Yeah, sometimes they can help you tremendously, but a lot of times they can hurt you tremendously, too. Yeah, I can see there's going to be a need for that, man. That is a good setup. Wow. And the other, if I can note one thing as well is that, and we're seeing a lot of interest in TSLL, which is our bull one and a half times daily Tesla fund. Right. Also to some extent, TSLS. And the reason why that's the case is we're in an environment where volatility remains high. Yes. There's a lot of questions about what the Fed's going to do. Inflation, China, Ukraine, the list goes on. Tesla has been volatile forever. People are gravitating towards it because even in times of volatility, you can make money if you're trading and if you're active. No, no doubt. Well, listen, Dave, we really appreciate the update. We missed it. We had the holiday. I know. I appreciate you coming back and look forward to speaking to you two weeks from today. Talk soon. Thanks so much. Have a great one. Have a safe one. And congratulations, man. You're working hard. I love it. Thank you. Thanks. Have a great one. Stay right there, folks. Come right back.