 Hello, everyone. Welcome to Options with Doug. Streaming live on Monday, Wednesday and Friday at 1.30 p.m. Eastern Time. Before I get started, I need to go through the Disclosures, General Disclosure, all BookMap limited materials, information, and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Disclosure, trading futures with ease 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 the topics of the channel that I'll go through in just a moment. I'm also on X, formerly known as Twitter. My name there is at Doug Pless. Here are the key tenets to my approach to trading. This is the basis of my approach to trading. I believe that options trades and market maker hedging activity are key drivers of price and many stocks and futures. And some of the time, or most of the time, in the S&P 500 and the NASDAQ 100, and especially in large cap tech stocks, the Mag7 stocks that I follow. And for the S&P 500, S&P X is the underlying index. SPY is the ETF version of that index. And ES, the equity futures, ES futures, that's a derivative of SPYX. And when traders buy and sell puts and calls in SPYX, market makers take the opposite side of those trades and they hedge their delta exposure with ES futures. And for the NASDAQ 100, NDX is the underlying index. QQQ is the much more liquid ETF version of that index. And NQ, the NASDAQ futures, that's a derivative of NDX. And when traders buy and sell puts and calls in NDX and QQQ, market makers take the opposite side of those trades and they hedge their delta exposure within Q futures. The focus of my presentation today, and the focus of the options-dog-chat channel, is options order flow, the impact of options markets and stocks and futures, and the influence of market maker hedging flow on price action. I have a two-step process for trading at 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 the 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. And for setups or injuries and exits. And when I talk about setups today, I will be focusing on an underlying asset. And setups in that asset can be taken any number of ways. For example, the SB 500 setups can be taken with ES futures, spy shares, spy options, SPX options, or even ES options. Questions and comments are welcome. And I will be watching both the options-dog-chat channel and discord, as well as the chat and YouTube-free questions and comments. Please feel free to post. And I'll do my best to answer your questions. And hello, Steven. Welcome. Glad you're here. Here's my agenda for today, Monday, April 15th. First of all, I want to go over news items, economic data and events for today, as well as the upcoming events for 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, let's start with economic data. For today, retail sales data came out at 8.30 a.m. Eastern time. That was greater than expected, greater than previous number, the previous number. Let's take a look at the reaction in the SB 500 and the overall scheme of things that was pretty small. But there was somewhat of a bullish reaction after the 8.30 a.m. data release that pushed the ES up to around the highs of the day and has been moving lower since right around 10 a.m. So more about that in a minute. So that was the data for today. Tomorrow, Tuesday, 8.30 a.m. Eastern time. Building permits, housing starts. And then Wednesday is VIX expiration. And that is at the cash open. And then Friday is the monthly options expiration. And let me just do a quick check, check on earnings. I believe Netflix reports earnings later on this week. Yeah, Netflix reports on the 18th after the market closes. So that's Thursday after the market close. Netflix reports. And that would really kind of kick off the large cap tech earnings. All right, so that is the data and events for the week. Now let's move on to positional analysis. I'm going to start with the SB 500. This is the ES futures and book map. Before I take a closer look at this chart, I do want to take a look at a larger timeframe, higher timeframe. I'm going to go to the underlying index. That's SB X. It looks like the current rally is definitely under pressure now. So this marks the beginning of the rally right around October 30th last year. SB X rallied up about 1150 points and then began to move make lower highs on April 1st. Let's take a closer look at that. Let's go to a one hour chart. This is the top of that trend line, the green trend line. Again, 1150 points. And then on April 1st, SB X started to move lower, made a series of lower highs. Now that appears to be accelerating. All right, let's take a look at 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 that is based on the closing price. From last Friday, those levels remain in place for the entire week. Hello, Caesar. Welcome. Glad you're here. All right. So that's the upper and lower a week they expected move. And it looks like SB X is quickly approaching the lower day they expected move shown by these dash blue lines also based on the options market closing price last Friday. And there was a pretty large expected move for today. Right around 52 points, plus or minus 52 points. And again, SB X quickly approaching that level. Note I do post these levels in the options dash, Doug, chat channel every day. I post them the day before. So these numbers were posted in discord yesterday afternoon evening. All right, the red lines on this chart are spot gamma levels. These are proprietary spot gamma levels that are provided to spot gamma subscribers. They're available on a variety of trading platforms. Again, this is thinkorswim in a 30 day one hour chart. I'm going to point out the key day levels. First of all, 5000 is the put wall that's a strike with a large net negative gamma that can be expected to act as support. That's also 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. The next level up is the volatility trigger at 51 65 that a spot gammas 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. And that tends to enhance their increased volatility. And that is definitely what is going on today. We'll take a look at the Vanna model in just a minute to get a graphical representation of that. And above that level, market makers position on the gamma curve is positive. In a positive gamma environment, market makers have to trade against price to hedge their delta exposure. And that tends to decrease or subdue volatility. And note again, SBX is trading firmly in negative gamma territory well below the volatility trigger and also start of the day in quite negative gamma. And then finally, the call wall is up at 5300. That's a strike where the largest net positive gamma that can be expected to act as resistance. So 5300 being the potential ceiling and 5000 being a potential floor with a volatility flip level at 51 65. All right, shifts and levels for the SBX, the put wall shifted lower and the volatility trigger shifted lower. So those levels both shifted lower, that is bearish. All right, let's wrap up our view of SBX with a one minute chart. SBX did gap up today, right around the 51 65 volatility trigger. Can perform that wedge pattern up and down right around 51 65. And then broke sharply lower just after 10 a.m. Found resistance at the 51 50 level that was noted as resistance in the spot gamma am founders note. And has been moving lower looks like maybe finding support almost to the tick at the lower daily expected move. 51 76 versus 50 71 76 versus 50 71 21. So half a point off. And again, I do post these levels, the expected moves in the options to as check chat channel every evening the day before. All right, so let's take a look at book map now. In book map, I have my own cloud notes so I so I can keep the SBX levels and the spy levels on this chart. There's that 51 71 zero gamma level just below that the 51 65 volatility trigger. And that was near the high of the day that was near that wedge pattern shown on the SPX chart. It's a little bit more clear on the SPX chart. But that's about where the SB 500 broke lower. And here's the lower daily expected move for ES. I do calculate that separately from the SPX lower daily expected move. So other other SPX levels on this chart, there's 51 100. And there's the 51 50 that did act as resistance earlier today. And note, there is a difference in price between ES and SPX. And today it is somewhere between 42 and 43. I'm using 43. So I'm showing SPX 51 100 at ES 51 43. So that offset somewhere between 52 and 53 points. So again, I'm also showing spy levels on this chart. Looks like I need to add more spy levels. So for example, here's spy 5 10 looks like that acted as resistance. Let me take a look here. This is what I used to show those levels on my chart. All I need to do is turn these on, then use my price lines add on to refresh those levels. So I'll get the spy levels below 5 10. And note, I also post the index relationships that I'm using every day in discord, I post the preliminary and the final index relationships. Alright, so those are levels of play for today. Here's the spy 5 12 volatility trigger acting as resistance as well. Alright, let's take a look. We'll take a look at setups in just a minute. And for spy, the volatility trigger and absolute gamma strike move lower. The call wall did move higher. Call wall up at 5 25 definitely not in play for today. Let's take a look at NASDAQ. Let's take a quick look at the underlying index charts. We'll start with QQQ. I need to adjust these levels. I'll do that later. Here's the 440. That's the absolute demonstrate and the volatility trigger and the zero gamma level for QQQ acting as resistance after the first move lower. Here's the put wall at 4 35. And let's take a look out for QQQ. There was only one shift in level, the volatility trigger move lower from 443 to 440. So QQQ trading well below its volatility trigger. Definitely a negative gamma territory. Let's take a quick look at NDX. Earlier today the 18,000 large gamma 2 level was acting as support and that level broke some time ago. So 18,000 large gamma 2 acting as support then broke lower. Now NDX trading well below this cluster of levels with the call wall absolute gamma strike up above at 17,900. And the put wall is at 17,500. So there were no shifts in levels for NDX. Let's go back to book map, big move today. Again I have my own cloud notes so I can show NDX levels and QQQ levels on this chart. So there's the spy QQQ 440 level. Lower daily expected move for NQ. NQ now trading well below that level. So far today about a 400 point or more move lower in NQ. Big move lower in NQ. We'll talk about setups in a few minutes. Let's finish up our positional analysis by taking a look at gamma notional. This is market makers position on the gamma curve at the beginning of the day. I'm looking at SPX spy NDX and QQQ. So the SP500 and also the NASDAQ. Note all these numbers are negative. They did move down from Friday. Well they're still slightly that's actually slightly positive for NDX. It really is not significant compared to the other numbers. In a negative gamma environment this means that market makers are short puts. Traders are long puts, market makers are short puts. Hence the negative gamma they have to trade in the direction of price to hedge their delta exposure. So let's take a look and see how that works. Let's go to the Vana model. All right so we know at the beginning of the day market makers position on the gamma curve was negative. So we're looking for a wider trading range, higher volatility, larger moves today. Just based on that what this chart is showing is market makers delta notional. On the vertical axis the spot price for SPX on the horizontal axis there are two curves on this chart. The first the light gray curve shows how market makers delta notional may change with changes of price only and the purple curve adds implied volatility to the equation. That shows how market makers delta notional may change with changes in price and implied volatility. All right so let's take a look at some prices now. So right now SPX is trading at $5,070. Earlier today SPX was trading let's see where that is. The high of the day right around $5,168. All right so somewhere right around here that was the high of the day. So as price has been decreasing market makers delta notional is increasing and they have to sell futures. That's what this is showing. So we know that price is decreasing. We can take a look at Vixen in just a minute. Market makers delta notional is increasing. Let's check on current price $5,070 again. So that's actually right around here. So almost 100 point move lower in SPX today. Market makers delta notional has been increasing. They've been selling futures to hedge their delta exposure. They want to remain delta neutral and this is very typical of a negative gamma environment and if this continues negative gamma will become even more negative yesterday tomorrow from today. So price is decreasing. Let's check Vixen. Zoom in. These arrows pardon the arrows but Vixen has been increasing obviously high so far today 19.4. So Vixen is up around 10% today so far. So implied volatility increasing and what that is showing is right now the difference between the gray line and the magenta line purple line. That's the additional hedging activity required because market makers delta notional is increasing as implied volatility drops and by the way that's the van effect. Van is a second order Greek. All right let's wrap this up. Let's move on to some setups now. All right so everything that we've looked at so far is based on static data other than book map. These levels that I'm showing on my charts these come from spot gamma. They take open interest data apply their algorithms to come up with the list levels. They change daily. I keep track of those and now let's move on to execution. Look at real-time data. All right so I'm going to start with this chart right here. This is spot gamma hero H I R O hedging impact real-time options. What is showing is market options trades and market maker hedging activity for a combined signal for SPX by XSP and ES futures. And note it's not providing a very clear signal today. Single stocks were I thought much provided much more clear signals. All right so that's the hero signal. Again options trades market maker hedging activity for a combined signal SPX by XSP ES futures. The white line is the price free SPX and the purple line is the hero signal. Falling hero line indicates traders are taking negative delta positions. That means they're buying puts and or selling calls. And a rising hero signal indicates they are taking positive delta positions. They're buying calls and or selling puts. All right let's zoom in on this chart and I'm going to zoom in make this a little bit more clear in the morning. I'm going to talk about this short setup right here. So note the hero signal initially is moving higher. This flow alert comes in. These flow alerts especially especially for the SP500 can act as mean reversion signals. Yes these are all show zero DTE in just a minute. All right so hero signal comes in hero starts to make a series of lower highs and then it takes really about 25 minutes. Note 51 65 that's shown as the hedge wall here. That is the volatility trigger before the SP500 finally breaks lower. So kind of a leading indicator here just zooming in on the morning session. You can see that the hero signal was making a series of lower highs. Flow alert gets your attention and then finally the SP500 breaks lower at the 51 65 volatility trigger. All right let's go take a look at book map and then we'll get back to the zero DTE. So here's book map. Let's zoom in on this. All right the clues in book map were pretty clear. The volume dots are showing market buy minus sell. Green volume dots indicate there are more buyers than sellers. Magenta dots indicate more sellers than buyers. Note all the green the magenta volume dots here. There are definitely some aggressive sellers up at this level. Notice also the falling dark blue to magenta line that's cumulative volume delta that's confirming the volume dots and price breaks lower below that 51 65 volatility trigger as the hero signal was making a series of lower highs starting about 20 25 minutes before the break lower in the SP500. All right Katina ask hello welcome glad you're here ask is the flow alert based on timeframes not that I'm aware of no let's go back and take a look at at hero so I this whole chart there's really the only time factor is this rolling window look back period I almost always keep it on one day so I'm looking at the entire day's worth of data that's from the close to the open. All right Caesar wants to take a look at zero DTE so I'm going to turn on this next expiry and for the SP500 that would be zero DTE both the the SP500 SPX SPY ES all have options that expire every day so that's zero DTE we'll zoom out and take a closer look so the zero DTE traders that shown by this teal line they're much more bullish than traders taking trades in all expirations that shown by the purple line that's the the default hero signal the purple signal all right so much more positive notional value for zero DTE so a lot of the trade today is is based on zero DTE trade options that expire today all right let's turn that off all right let's move on so great nice short setup divergent short in the SP500 later on in the day the signal became much less clear and you welcome Katinga you welcome Caesar yes Caesar says that total delta difference is absurd zero DTE versus other expirations can be can be puzzling all right let's take a look at NASDAQ now normally for the NASDAQ I take a look at this mag 7 signal let me show you what this is this is another combined signal showing options trades at market maker hedging activity for a combined signal for the stocks known as the magnificent 7 apple amazon google metal microsoft nvidia and tesla all right let's zoom in on this chart i'm going to zoom in on the morning and note in the morning this hero signal was a total head fake and i'll show you why in just a minute hero signal moving up sharply lower NASDAQ training sideways and then right after 10 am breaks lower so one thing you could gather from this chart as the hero signal levels off options traders take their foot off the gas price moves lower all right so this is the mag 7 hero signal again a little bit of a little bit of a head fake today a little bit difficult to interpret and let's see why i'm going to go to the nvidia signal and the mag does this look familiar it should nvidia was driving the mag 7 signal short move higher in the morning this was a setup that i'll talk about in a minute and then it took a little while but options traders took the foot off the gas note that nvidia traded up to the 900 call walky gamma strike all right so let's take a look at the NASDAQ signal sometimes i do take a look at this a little bit more complete clear for this move lower in NASDAQ hero makes lower highs before NASDAQ breaks lower and this is the hero signal for NASDAQ combining ndx and qqq options trades all right let's take a look at NASDAQ very similar setup in this case the break was at qqq 441 and the nq 18300 all right so short setup in in the NASDAQ just after 10 a.m eastern time let's go back to hero so for NASDAQ here's the NASDAQ signal mag 7 signal so finally gets on board say around 1030 starting to move lower then the sharp move lower we'll write around 12 10 12 15 now more in sync with price action all right let's take a look at some stocks now so the first stock i want to take a look at is coinbase so let's take a look let's just compare hero signals there's the sb 500 let's take a look at coinbase this is why i like to trade single stocks much more clarity much more pure signal and coinbase heavily driven by options trades i'm going to separate outputs and calls and i have to jump this is back to the mag 7 signal showing that the call buyers took their foot off the gas right around 10 15 i do that because there's still an auto zoom issue so call sellers definitely driving price in coinbase today that's shown by the falling orange line blue line for puts and a falling blue line indicates traders are buying puts but they're much more aggressively sign calls selling calls so the slope of these lines the direction is an indication of delta orange line falling orange line traders are selling calls market makers are buying the calls they have to sell coin stock to hedge their delta exposure though the flow alert indicating significant options activity took a little while for this to play out but traders started aggressively selling calls just after 950 price move lower moved down did a test of the hedge wall that was a good secondary entry moved down below the 240 put wall and now continues to lower as traders continue to sell calls let's go take a look at coin so 245 hedge wall so there's the initial mover lower that trend break and that was before 10 a m let me zoom in on this just a little bit all right come on all right looks like right try that again sorry about that all right so looking at the volume dots you can start to see the large magenta volume dots aggressive sellers come in trend break below vwap that's shown by the light blue line as aggressive sellers start to come in cumulative volume delta moving lower oops wrong tool cumulative volume delta moving lower 245 the hedge wall secondary entry point there as coin reverses at the hedge wall moves down to the put wall and now is moving lower as traders continue to sell calls much more pure clean signal for hero in a single stock here all right the next is meta very similar chart pattern trend break in this case for meta after 10 a.m aggressive sellers start to come in all those are much smaller budget to volume dots let's go see what options traders are doing go to meta having some issues with my pen tool sorry about that call sellers again in this case also put buyers call sellers shown by the falling orange line and the put buyers come in sometime later that vertical line that's a large block order institutional order of traders buying puts so blue line orange line both moving in the same direction that's a very strong directional signal in this case it is bearish the flow alert that comes in just after 10 a.m right before the break lower flow alert indicating significant significant options activity another very clean pure signal here for meta let's take a look at invidia and invidia was actually a good long this morning no traders aggressively buying calls i don't know why the pen tool keeps doing that maybe all right traders buying calls shown by the rising orange line invidia moves up above the 900 call walk egam a strike and it took a while but options traders took their foot off the gas and then invidia started invidia actually started to move lower before so good long setup not a lot of clarity clarity until let's see after 10 30 a.m when orange line and blue line were somewhat moving in the same direction most clarity definitely in the morning with the orange line and the blue line traders were buying calls and or selling puts up to the 900 call wall key gamma strike let's go take a look at book map go to invidia so here's the bullish setup in the morning up to the 905 level five points above the call wall key gamma strike buyers are exhausted that high liquidity of that level did act as a magnet for price at the 900 and 905 level and then remember about 10 30 hero does shift lower let's go back and take a look at hero all right so right around 10 30 10 40 call signal shifts lower and then right around 12 12 10 12 15 both lines shift lower finally moving in the same direction there's where the hero signal shifted sharply lower all right let's take a look at tesla very bearish day in tesla from the open i think tesla there was news that that they plan to lay off about 10 of their workforce so bearish news in tesla before the open or news that apparently the market interpreted as bearish mainly put buyers driving price lower today that's shown by the falling blue line note the vertical line there large block order institutional order buying puts so put buyers definitely driving price for tesla today move lower they take the foot off the gas then just around around noon they start aggressively buying puts again and tesla moves lower let's compare the notional values so they are selling calls they are buying puts you can compare the notional value for puts minus 237 million versus minus 18 billion for calls so again they are buying puts and or selling calls the put buyers much more aggressive driving price when traders buy puts market makers sell the puts they have to sell stock that is their dealt exposure note also the flow alert that comes in looks like about maybe seven or eight minutes after the cash open again signaling significant significant options activity so i'm not already looking at tesla i see that alert let's just zoom in so let's say i'm watching my list of alerts that alert comes in i see that tesla reversed lower at the 170 level that's the put wall key gamma strike hedge wall these lines are moving lower so based on this i would be looking for a short let's go to book map it's even more clear here in book map tesla dropping sharply lower at the open at the 170 level as traders were taking negative delta positions pullback entry just a few minutes after the open to 169 i think that flow alert came in maybe maybe after that let's just see what time this is so i think the flow alert maybe came in just a few minutes after that reversal at 169 all right does anyone have any stocks they want me to take a look at all right let me know i'll be glad to take a look at any stocks and katina asked do you have any combined factors to weed out or make sure the flow alert is not a head fake yeah i like to have multiple multiple confirmations a price so first of all i am looking at trend is try is price trading below above or below vwap for example or you can look at a you know if you look at a candlestick chart have your moving average whatever you want on that chart so i want to i want to confirm the trend is the stock stock moving higher lower i'm looking at the hero signal is a confirmation looking also at cvd chemo to volume delta and looking at tesla here at the open the cvd was not not necessarily clear oops sorry i thought i'd turn that off let's try that again sorry about that let me just reset this all right so pretty much from the open the trend in tesla was pretty clear moving down hero signal confirmed that and i'm looking for a short so keeping in mind that again i've shown that the hero signal and alerts for single stocks are typically much cleaner signals than the combined signals like the mag seven or the nasdaq or the sp 500 all right jeff wants to take a look at gold so gold i don't have in book map we can take a look at let's go back to hero we can take a look at gld that's what's available here in hero so hero note the multiple flow alerts three flow alerts before the open when they come in one after another like that spot gamma indicates that is a that's indicative of chop and gold starts to move higher as traders start aggressively buying calls and that is what is what's driving price today the call buyers note they're also buying puts that's shown by the falling blue line but it looks like call buyers driving price higher in gld today here's the call wall at 220 that's the call wall key gamma strike 220 that's up up here this blue line so it looks like gld is not quite there yet all right tommy wants to take a look at dj t not not a lot of options activity today the notional value pretty small but looks like definitely put buyers driving price 300 is the put wall key gamma strike hedge wall looks like price did not quite make it up to that level just about 10 minutes after the open traders start buying puts shown by the falling blue line and they're also selling calls shown by the falling orange line orange line blue line moving in the same direction and a good strong directional indicator in this case bearish all right continue i hope i hope i answered your question so i'm i'm trying not to look at anything in isolation alerts hero signal i'm trying to find the best combination of signals to confirm a setup so i'm trading with three screens i have hero screen hero up on one screen book map on another and then my trading platform on another screen so i'm looking at hedging flow order flow and then really just kind of the trend in my trading platform elizabeth elizabeth asks what is the put wall uh no problem put walls to strike with the largest net negative gamma that can be expected to act as support not doing its job here for dj t and jeff you're welcome let's go back let's take a look at some stocks actually i'm going to go back to the total signal let's take a look at uh go back to tesla for example hero signal continues to move lower let me show you these alerts this is what i look at in the morning most of the alerts come in just a few minutes after the open this is for the sp500 signal showing the hero signal moving higher sp500 spx in this case moving lower here's the and this alert came in that was almost 30 minutes ago this that's this alert right here take a look at nvidia you're welcome elizabeth all right nvidia continues to move lower maybe heading down toward the 850 put wall let's go take a look at book map take a look at nvidia so it looks like that let me zoom in on this hero signal definitely loving all leveling off here in nvidia options traders have taken the foot off the gas right as that flow alert comes in we'll go take a look at book map go to nvidia so options traders have taken the foot off the gas nvidia is moving sideways between 865 and 870 all right i'm going to scan some charts on my trading platform see if i see anything right so it looks like snowflake trying to move higher let's take a look at that let's go see what options traders are doing go to snowflake so in this case not a lot of confirmation from options traders for this move higher also saw amd possibly trying to move higher so this looks a little bit more clear zoom in on this separate outputs and calls we'll zoom on this and i'm going to go back to the total signal sorry about that a little bit more clear on the total signal here looks like amd stock started to move first let's go to book map see if some aggressive buyers are coming in to amd no no cvd continues to move lower let's go back to hero hero signal maybe leveling leveling off let's go back to book map go to amd so in this case i would be looking for a potential trend break in a move lower so that's not a recommendation that may not happen so i would watch hero and and price action and amd all right elizabeth asked do you use the white and blue line and hero all right let's go back to hero and separate outputs and calls all right so i'm not sure what what lines you're asking about so this is this is amd the blue line is puts and a rising blue line indicates traders are buying puts or selling puts i'm sorry and a falling blue line indicates traders are buying puts the white line is price so yeah i do use the blue line i use the white line and the orange line is calls a rising orange line indicates traders are buying calls and a falling orange line indicates traders are selling calls all right jiff says um and you're welcome jiff i'm just starting with you do i go to uh i see me mean discord to find out how to load hero go to spot gamma spot gamma dot com you'll need to subscribe to spot gamma dot com you'll need the alpha subscription uh to get hero and uh spot gamma does provide a free seven day trial so definitely worth a try all right uh abu asked can you please look at nq hero and see what traders are doing so there is no all right so now it looks like traders may be starting to uh are continuing to buy calls and selling puts in amd maybe maybe starting to move higher all right so there is no hero signal for nq so we can take a look at this is would be the total signal for qqq and ndx and thank you steven so again there's no nq hero uh there is ndx you can look at ndx separately or qqq separately or here's the combined signal so traders are starting to buy calls and sell puts right around 130 in nasdaq so far price not really responding here price shown in terms of ndx so you can also look at the qqq signal pretty similar all right let's go to let's go back to book map abu says all right so amd continues to move higher so the trend uh trend rules here zoom in a bit all right so abu you're right 431 acting of support multiple test that is qqq 431 that's not a spot gamma level that is just a round double level qqq acting of support right amd continues to make a series of higher lows and higher highs let's go back and we'll take take a quick look at hero for amd go to the total signal so now confirming the move higher options traders starting to take positive delta positions buying the dip and amd one thing that i should have noticed before 160 is the put wall so now price trading above that level that did act as support earlier today amd did break below that level now trading back above let's go to book map and then we'll wrap it up 160 put wall here it's a little bit more clear price did break below that level earlier today sharp reversal higher and then now finding support one point below the put wall at 159 and moving higher and now hero is confirming that move higher all right everyone my time is up i want to thank you very much for watching thanks for your questions and comments and i will see you on wednesday remember uh building permits housing starts tomorrow morning might be a market mover and then vex expiration on wednesday morning and we'll talk about it on wednesday afternoon right everyone have a great afternoon thanks again and i will see you on wednesday bye