 Hello, everyone. Welcome to Options with Doug, streaming live daily on Bookmap Discord and the Bookmap YouTube channel 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. Risk disclosure, trading 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. The focus of my presentation and the focus of the Options-Doug chat channel in Discord is options, order flow, the impact of options markets on stocks and futures, and the influence of market maker hedging flow on price action. I have a two-step process for trading and the first is planning and I use positional analysis. I look at how traders and market makers are positioned in the options market and how those positions change from day to day to develop a thesis regarding the expected trading range and volatility for the day, as well as 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 market maker hedging flow in Spot Gamma Hero to confirm my thesis and for setups for entries and exits. And just to be clear, I will be talking about setups today and I will be talking about the setups in the underlying asset. And those setups can be taken any number of ways. For example, the S&B 500 could be taken with futures, spy shares, spy options, and SPX options. So again, the basis of my analysis is the options market and then I will be talking about setups and underlying and some of the basis of my analysis, like I said, watching market maker hedging flow is also part of my execution process. But I will be talking about setups and underlying assets. And questions and comments are welcome. And I will be watching the options-doug chat channel in Discord and the chat in YouTube for your questions and comments. So please feel free to post your questions and comments. All right, let's get started. What I want to talk about today, my agenda for today, first of all, I'll go over some news items, some economic data coming out this week. And then I'll go through my positional analysis. And then I'll talk about setups. All right, so first of all news for the week, the big event is the CPI data that comes out on Wednesday, Wednesday, May 10th at 8.30 a.m. Eastern time shown right here, CPI data. And then on Thursday, the PPI data comes out also at 8.30 a.m. Eastern time. And then finally, the Michigan consumer sentiment number comes out on Friday at 10 a.m. And so those are the big economic data releases for the week. And there are also Fed speakers throughout the week. All right, let's take a look at charts. We'll start with my positional analysis now. And this is Bookmap. This is the SAP 500 futures. And before I dig into this chart, I'm going to take a look at a larger time frame. And this is an SPX chart showing just price and key levels. And these levels, spot gamma levels, are provided by spot gamma to spot gamma subscribers. And I'm also showing expected moves for the week that's shown with this dash purple line. There's the lower and upper edge, the expected move. And then also for the day. And again, this is SPX, lower edge of the expected move for the day. And the upper edge of the expected move for the day. And right now, SPX is trading well within the range of the lower daily expected move in the upper daily expected move. All right, so those are based on the options market. Then again, the spot gamma levels. Let me point out some of the key levels. First of all, this is the put wall. And that is the strike with the largest net negative gamma that can be expected to act as support. And 4000 is also the absolute gamma strike. And that's the strike with the largest absolute gamma. And then here's the volatility trigger at 4095, just below 4100. And that is spot gamma's proprietary gamma flip level. Below that level, market makers position on the gamma curve is negative. In a negative gamma environment, they have to trade with price to hedge their delta exposure. And that tends to enhance volatility. And then on the other hand, like SPX is trading now, above that level, market makers position on the gamma curve is positive. And in the positive gamma environment, market makers have to trade against price to hedge their delta exposure. And that tends to subdue volatility. And that is certainly apparent today with a SPX ES spy all trading in a very narrow range today. And you can just see that on this chart. And this is also, let me point out a one hour chart showing price beginning at the beginning of April. And so there's today. And again, this is a one hour chart showing that SPX is traded in a fairly narrow range since the beginning of April. And then finally, here's the call wall at 4200. And that's the strike with the largest net positive gamma that can be expected to act as resistance. And note this call wall is lower. From Friday, it was at 4300 on Friday and shifted down from 4300. And then the put wall shifted higher from 3904,000. And I'll talk more about that in a minute. So those are the primary daily levels that I follow. The put wall, the absolute gamma strike, the volatility trigger and the call wall. All right, let's take a look at another thinkorswim chart. And again, this is for the month of April, starting beginning of the month of April into the first week of May. And now let's go to another thinkorswim chart. And this is SPX for today. A one day, one minute chart. And again, SPX trading above the volatility trigger, market makers position on the gamma curve is positive. And trading just about in the middle of the lower and upper bound of the expected move today. Very narrow range. And that is typical after, first of all, a big move on Friday. A range expansion leads to contraction or consolidation. And also a positive gamma environment. All right, so let's take a look at the book map now. And a very narrow choppy range again. And the key levels that are in play for today. And I'm showing these on my cloud notes columns. They're, I don't see any levels shown on the spot gamma cloud notes. But these are my cloud notes. So this is the 41 30 SPX 41 30 noted as support in the spot gamma AM founders note. And this is spy the spy 412 large gamma two level. And both of these levels were noted as support in the spot gamma AM founders note. And it was, I guess, a kind of a choppy support this morning. But finally at about 1130, this 41 30 level, and the 40 spy 412 did act as support. And again, just about 1245. Now it looks like price is heading up to the spy for 413 combo two level. And that is combining spy and SPX gamma into one level and converted to an equivalent spy number. So choppy range this 40 412 to 41 30 range, roughly held as support. And the ES 41 50 has also been in play today. And that's shown here. All right, so that's the SAP 500. And again, I'm just going through my positional analysis now. And we'll talk about setups in a few minutes. All right, so the next let's take a look at the NASDAQ now. And a much clearer read a nice strong uptrend here in the NASDAQ. And let's go take a look at the QQQ. If you find that chart, I'm going to look at the QQQ gamma levels. So this is QQQ a one day one minute chart showing this 322 large gamma one level has really been in play today. It would acted as resistance in the morning and then support for this move higher initiated down here, then retest of the 322 level QQQ 322 level. So it acted as resistance and then acted as support. And now the NASDAQ continues higher. And now let's go take a look at book map. We'll take a look at the NASDAQ and book map. So Hector, the blue line you look at QQQ that is VWAP. And I'm using in all my charts, I'm looking at a VWAP with a light blue line. So that is VWAP for QQQ. It will see the same thing on the NASDAQ. So I'm trying to be consistent here with a light blue line showing VWAP. And there is the zoom in on this a little bit. So here's the QQQ 322 level acting as resistance and then support. And again, I'll look at setups in a few minutes and see we'll talk about order flow and edging flow supporting this long or a long setup in QQQ and NASDAQ in QQ. All right, so that is the, that's the NASDAQ. Let's take a look at gamma levels. And while I'm doing that, I'll talk about shifts and levels. All right, so let's take a look at the gamma levels here. Let me just refresh this page. These are the absolute gamma levels. I'm going to look at SPX, SPY, NDX and QQQ. Starting with SPX, what this chart is showing is positive gamma or a call gamma above the zero line shown with the orange bars and negative gamma or put gamma shown below the zero line with the blue bars. So this is SPX. There's the 4000 strike and that is the absolute gamma strike. And that is the strike with the largest absolute gamma. That's pretty obvious when you add the orange bar and the blue bar together. And that's also the put wall, the strike with the largest net negative gamma. And that is expected to act as support. And then note the significant gamma at the 4100 level. And that was noted as support as well today. And the SPOT Gamma Am Founders Note and the 4150 noted as resistance in the SPOT Gamma Am Founders Note. So that's a pretty narrow range for SPX, a 20-point range from the support level. And that's the higher support level at 4130. Support was indicated at 4100 and 4130 and resistance noted at 4150 and 4160. And then finally here's the call wall. That's the strike with the largest net positive gamma. And that can be expected to act as resistance. So those are the primary gamma levels that are in play today. The ceiling at 4200 and the floor at 4000 for SPX. Now let's take a look at SPI. All right, so there's SPI. And first of all the put wall at 400. The strike with the largest net negative gamma. That's pretty obvious. And then here is the 410 strike. That's the key gamma strike. And that strike did increase from Friday. It was 400 on Friday, so it moved up to 410 today. I interpret that as bullish. And also for SPI, the volatility trigger did shift higher as well from 408 on Friday to 411 today. So for SPI, the volatility trigger shifted higher and the key gamma strike shifted higher. And by the way, for SPX, there was a slight shift higher in the volatility trigger from 490 to 495. And as I mentioned before, the put wall shifted higher from 3,900 to 4,000 and the call wall shifted lower from 4,300 to 4,200. So the range narrowed in SPX. And then bullish moves higher in the volatility trigger and the key gamma strike for SPI. So SPI, here's the put wall 400, key gamma strike at 410, and then the call wall at 420. So there's the ceiling for SPI at 420 and the floor 400 and 410 is the key gamma strike or the absolute gamma strike. Let's take a look at NDX. I'm going to have to do a refresh. Go to NDX now. And here's the only strike with any amount of significant gamma. And that's the 12975 strike. And that has been the call wall and the absolute gamma strike for quite some time. Let's take a look at QQQ. We'll zoom in. So for QQQ, the volatility trigger shifted higher from 317 to 319 and actually volatility trigger shifted higher for SPX, SPI, NDX and QQQ. All the primary index instruments that I follow. So for QQQ, the 310 strike is the put wall, although there's also significant gamma put gamma at the 300 strike. And then the 320 strike is the absolute gamma strike. And also there's significant gamma at the 315 level. But 320 is the absolute gamma strike. And then the call wall is at 330. So the ceiling at 330 and the floor at 310 for QQQ. All right. While I'm on this page, I want to look at one other chart. I'm going to go back to SPX. I'm going to look at the Vana model. And for those of you who've seen this before, please bear with me. There may be new people here that anyway, it's important to look at this every day. I think it's interesting and it gives you a pretty good guide about how market makers may react as price and implied volatility changes. So this is again the Vana model for SPX. And what this is showing is how market makers delta notional or delta exposure changes with changes in price. And that is shown by this light gray curve. So this light gray curve is showing how market makers delta notional changes with price only. And what this is showing is above around the, let me check this price level, above around the 4120 level, market makers delta notional will start to increase as price increases. And they will have to sell futures to hedge their delta exposure. And again, that is typical in a positive gamma environment. And this purple curve adds implied volatility changes and applied volatility to the equation. And that is takes that takes Vana into effect. Vana is the change in delta with the change in applied volatility. So what this is showing is that market makers position on the gamma curve above, let me just check on the level. So above around 4175, 4178 here, market makers position on the gamma curve, their delta notional will increase and they'll have to sell futures. But what it is showing is that with an increase in price, market makers will not have as much delta notional to hedge as predicted by the gray line, the delta only line. Then on the other hand, let's check the price of SPX right now. So right now I have SPX at 4137. So that's shown around here where my cursor is this vertical line. So what this is showing is when you take implied volatility into account, that as price increases from that level up to a certain point, market makers will actually be, their delta notional will be decreasing and they can buy back short hedges. So they will actually be buying up to a certain point and then as this curve shifts higher, then they'll have to start selling futures. And then on the other hand, if price really drops and implied volatility increases, they'll have to start selling futures. Right, I hope that makes sense and gives us some guidance about what how market makers may react today. And this is based on their position at the beginning of the day. And of course that will change over time. All right, so we talked about the levels that are in play for today, the shifts in levels from the previous day, and then also market makers position on the gamma curve. And right now for the index products, they're all above the volatility triggers. So in a positive gamma environment. All right, let's take a look at some setups. I'm going to start with the S&P 500. And for those of you who may not be familiar with this chart, this is hero. This is spot gamma hero, showing hedging impact in real time. It's H I R O hedging impact real time options. This is showing price with the white line. And then the options trades and market maker hedging activity shown in terms of a notional delta notional value with a purple line. And this is combining the S&P 500 SPX, SPY, XSP, and ES futures into one signal. And XSP is not significant. So this is really just showing SPX, SPY, and ES futures. So note this is overall for today, it's gone up and down, giving a pretty strong confirmation for up and down moves in the S&P 500. And then, but overall net bullish, this number, this notional value is about 1.5 billion positive. Let's take a look at the individual components of this. And then I'll take a closer look at the S&P 500 setups. So first of all, we'll take a look at SPX. And SPX is positive, just like the total signal, but it looks like it's making up about a third of that signal at about 500 million. And again, a strong confirmation up and down, confirming the price action in the S&P 500 SPX. Now let's take a look at SPY. And there, you can see the number here over on the right, as well as on the screen there. So that's positive 1 billion shown here as well. And again, strong confirmation between options, trades, hedging flow and price action in SPY and the S&P 500. So we have SPY and SPX, both positive notion of value. And Hector asked on the hero chart, do you have an interpretation where the purple line crosses the white line? No, I don't. I don't look at crossovers. I'm just looking at the general trend of the line, of each line separately. And I, you know, they're shown at the same time. So I can see that, you know, generally here, hero is rising at the same time that price is rising and vice versa. Price is falling as at the same time that hero is falling. Sometimes hero acts as a leading indicator. And sometimes it acts as a confirming indicator. And here, looking at the overall picture, it is acting as a confirmation today price. Yeah, Hector, I'm looking for, actually, I posted this, scroll up in Discord, option stash, chat and Discord. And I posted my two setups using, using hero. The first is, and my favorite is a divergence, where heroes going one way, price is going another. And then I look at book map for potential reversal point, that would be a level where I would expect to see a reversal, like a key gamma level or round number level or a high liquidity level or hopefully, hopefully a confirmation of all. And then a confirmation, I see that level potential reversal level in book map, as well as a confirmation of order flow. aggressive buyer sellers coming in iceberg orders and stop orders tend to come in a little bit later and start to fuel the move higher or lower. All right, so that is SPX spy. Now let's take a look at ES futures. And there, that number is a small negative number. So really, if you just look at notional value, SPX and spy are dominating the S&P 500 price action today. All right, let's take a look at book map now. So we know that traders have overall net been taking positive delta positions. Let's just see what they're doing. So they're buying calls and buying puts. And that's shown the calls are shown by the rising orange line. And we can see that notion of value 2.1 billion. And we can see that this blue line, this notion of value is minus about 485 million. So call buyers are winning. So they're buying calls and buying puts. And the call buyers are winning. All right, let's go take a look at book map now. And we'll go back to the total signal. Go look at book map. Let's go back to the S&P 500 and pretty choppy session. And it looks like this is seems to be finally resolving higher here with this final test of the spy 412 large gamma two level. Again, noted as support and the spot gamma M founders note and heading up to the 413 level. Let's just zoom in on this. So not a not a clear read in order flow up to this move higher. Just clean this up. And an interesting move here this large with this large green volume dot looks like a stop run. And I can tell by this number with the green dot there, stop by stop orders. Also shown by this sharp move up here in the yellow line. And also the dark blue line showing cumulative volume delta increasing sharply. And notice finally, there were some large crater there with resting iceberg borders to sell at 4150. And it looks like they did not get their way and price now has resolved higher. Found supported VWAP and now trying to make it up to the 413 level. So choppy morning session and finally a more clear move higher in the afternoon. Let's we'll just take a look at maybe some of these moves higher in the morning. So we'll go back to hero. Let's zoom in on this. And given the increase in the absolute gamma strike for spy and the increase in the put wall for SPX, my thesis for the day, my directional bias was slightly bullish. Again, a positive gamma environment. I'm looking for a narrow trading range today, but leaning, leaning bullish. And these setups were confirmed with hero both at 1040, 1130, and then around around one o'clock. So let's remember those times 1040, 1130, and one o'clock. And we'll go back to book map. Take a look at order flow. So here's the first setup. And there's a trend break, trend break, and then a move higher above the 412 level. We just scroll. Then price reverses lower. Note the large iceberg selling into the move higher. So there was the first move higher confirmed by order flow, the increasing cumulative volume delta and stops all over some more. Here's the second reversal higher. And then the final didn't quite make it to the 413 level. Let's just see what. All right. So let's move on to NASDAQ. Spent enough time with this. The NASDAQ was actually a much better setup today. So here's NASDAQ. And this is really, you can see the bullish order flow. Was this a news event? This looks like a pretty sharp move lower. I don't know. Does anybody know? Was there any news that came out of Fed Speaker? RJ says loan officer survey. All right. So anyway, let's take a look at NASDAQ. Nice long setup here. Trend break, order flow shifts, bullish. Note the rising cumulative volume delta. And you can just see the green dots coming in. And market buy orders. So there was the first setup, that trend break just above 322. And then a nice second entry there at the retest of the 322 level. And that set up a move higher from around 13285 up to 13350 in the NASDAQ. Let's go take a look at hero. All right. So Hector, I'm going to talk about the best setup today. And that was what I just talked about. This move higher right around 1045. This trend break. You can see the order flow shifting bullish. So yeah, you could have traded this chop. You have plenty of good bearish setups here as price was making lower highs. And I did catch one of those. But the best setup was this, I think the most obvious setup was this retest of the 322 level with this bullish order flow. And now let's go take a look at, let's go take a look at hero for NASDAQ. So I'm going to take a look at the combined signal for QQQ and NDX. Let's zoom in on this. So here is the initial reversal higher. And then there's the retest of the 322 level QQQ, 322 level. And note this large block order here as hero continues up. Large block order and then hero continues up again. And generally trending higher. And I'm looking at this overall trend here and up until just a couple of minutes ago it was bullish. I'm going to scroll just a little bit to the right. So net not literally as much notional value as the SB500, but definitely bullish. Combined signal for NDX and QQQ at 421, positive 421 million. And let's just see what they were doing. So they're buying calls and note this block order was someone large institution selling puts. And in YouTube, all right, ask or I am looking at NASDAQ now. This is what I think. And so what caused the current sell off and in discord RJ posted it was the loan officer survey. So that must have been what triggered the move. All right, so I don't have access to news feed right now. So I'm not watching that. So I'll trust RJ on that. All right, so traders for the NASDAQ buying calls will zoom all the way out. And interesting that they did, there was a slight lead in this move lower note hero makes a lower high price makes an equal high and then drops. So let's just go take a look at NASDAQ and see where that move lower occurred. And that was at the 13,350 level. And you can see the order flow shifting note the shift from green dots, market buy orders, aggressive buyers, and then the shift to pink dots, aggressive sellers at that level, and then price drop sharply. All right, let's take a look at some stocks. Unless there are any more questions about the index as S500 and NASDAQ. All right, let's take a look at some stocks. So first of all, the best stock set up today was definitely AMD. Nice strong uptrend and AMD. Let's take a look at hero. We'll go take a look at AMD. And for some reason, this page keeps refreshing. I can't. Every time I sort it, it does not stay at that. So I'm just going to go over here to the right and grab AMD. So here's hero for AMD. Let's take a look at what traders are doing. And they've been buying calls that show them by this orange line. They've also been buying puts, but call buyers are definitely winning today. Positive 128, 121 million versus negative 34 million for puts. So they're buying calls and buying puts. Call buyers are winning. And ask our Apple and Tesla, I will take a look at both of those stocks. This was the setup that I wanted to highlight for stocks today in AMD. Definitely a great uptrend. And as a stock buyer, if you're looking for a long entry in a stock, this is exactly what you want to see. This rising orange line traders buying calls, market makers are selling the calls, and they have to buy stock to hedge their delta exposure. Market makers want to remain delta neutral. So they have to buy stock as they're selling calls. And that can drive a price, drive a stock price higher. And note also how price levels off as price, as traders stop buying calls. And price levels off as traders again stop buying calls. All right, let's go take a look at bookmap. And we'll take a note of one other thing is 90 is the key gamma strike. And we'd note that price did do a final test of that level and move higher. At least that's what appears to be the case from this chart. Let's go take a look at bookmap now. There's AMD and there is that FEST final retest of the 90 key gamma strike. Nice five point move to the 95 high liquidity level with AMD. Straight shot up. And a great way to play that would have been to buy a call this morning. Let me just point out one other thing. Another signal that you can look at here in hero. And again, this is jumping around. So it may be a little bit. Maybe this will be stable. But this hero signal this morning, it was stronger with hero rising. This is showing the compares the heroes signal for the last five days and last 30 days. So the signal current signal is shown by this dot, the white dot. And it's comparing to the total range that's the 30 day last 30 days. And then the colored section of that is the last five days. So this morning it was further to the right showing that the current hero signal for today is was in the high end of the range for the last five days and last 30 days. And you can sort stocks by that hero signal. Again, this is refreshing frequently. I don't know why. So it won't it won't remain that like that for very long. But you can just see that. Let me just go back and try that again. Netflix strong signal, Google strong signal, Apple strong signal, AMD. All right, so let's take a look at Apple now. And a choppy session in an apple. No spot gamma levels in play for today. Let's go take a look at book map. And again, this was the I think AMD of the stocks that I follow. Definitely the stock of the day. There's that ball narrow, narrow trading range. And if price does continue higher, this 175 note the high liquidity at that level. Orders that have been in the order book to limit sell orders since the RTH open. And those orders tend to attract price. And that's one of the great things about trading stock and using book map. You can see those liquidity levels. And again, they stay in often stay in the order book all day and or until they're filled. Right. So that's Apple. We've looked at AMD. Let's take a look at Google. Another strong uptrend of Google. Let's go take a look at Hero and note these stocks were were barely phased by that news, especially AMD and Google. So let's go take a look at Hero. Let's go back. Look at Google. And for Google, the same thing as AMD call buyers, driving price higher. So looking for a long setup. There it is. Look for call buyers. And this is somewhat of a let's zoom in on this kind of a nice divergent setup in the morning. Quick move higher with call buyers. And they're not selling. And then price makes a couple of pullbacks, good entry points. And then traders resume. Oops, wrong tool. Traders resume. Sorry, I thought I picked the arrow. Traders resume. Buying calls and price moves higher. So that's Google. Let's take a look at Microsoft. And for Microsoft, this is a confirmation short. Hero falling. Price falling. No spot gamma levels are in play. And traders are selling calls and buying puts. And it looks like the call sellers are primarily driving here. So they're selling premium, selling calls in Microsoft. Could be taking profits on calls they have purchased recently. All right, let's go take a look at Bookmap. Take a quick glance at Meta. We may go back and take a look at Hero for Meta. Here's Microsoft. And just the opposite of AMD. Short setup. Confirmed by Hero. All right, let's take a look at Nvidia. Let's go take a look at Hero. And so why, by the way, 290 is the key gamma strike. We'll take a look at Hero and then we'll come back to Bookmap. We'll go to Nvidia. And this is very typical price action for Nvidia. Note the chop in this case for about the first hour. And then price finally starts to move higher as and at the same time, traders start taking positive delta positions and price moves higher above around the 284 level. So I'm just going to zoom in on this just a bit. So it looks like in this case, price was actually leading options traders a little bit. And price, once it gets going, moves up to the 290 key gamma strike shown here. And note the sharp drop in Hero here. If you're looking for a short setup, this might be a leading indicator of a short for Nvidia. Let's go take a look at Bookmap and we'll take a look at the first of all, the long setup in the morning about 1030, 1040. So let's zoom in. So here's that morning chop up until about 1040, 1035. Final retest to the 284 level. And this order flow is mostly bullish. We'll just take a look at cumulative volume delta here. Note I'm looking at all the green dots. So while price is chopping in this range, there are a lot of aggressive buyers coming in, shown by the rising cumulative volume delta. And then price, again, does a final retest. There's a lot of absorption buyers absorbing the sellers and price moves higher. So pretty easy read in order flow here with this 290 key gamma strike. Right. So 290 key gamma strike and all the liquidity at that level. Let's just zoom out. And we'll see that prime finally price did did make it up to the 290 level, the 290 key gamma strike. Right. So Hector asked when hero line is going down, price is going up. There's a strong heat map. So I so first of all, if hero line is hero line going down price going up, I'm considering a potential reversal. And I'm looking at overall order flow in and book map for a potential reversal. So I know that the 290 key gamma strike could be a potential reversal point. So let's go take a look at we'll go back and take a look at hero. So we know that price reverse lower just about 2pm. So let's go take a look at hero now. And this is more, I look for this type of setup more in the S&P 500 than I do in stocks. So it looks like this, again, hero moving lower. And then price reverses did not last long. Looks like a buyers came right in options buyers and are taking positive delta positions and price moves up again. So let's just see if we can get any clarity about exactly what options traders were doing in the afternoon session. So really it looks like what they started doing is started buying puts, then price moves starts to move lower, they stop buying puts, start buying calls again, and price starts to move higher again. So that was a very short kind of a short scalp more than anything that, you know, the overall long term trade for today for Nvidia has been long. All right. And Hector asked, could you tell me please why you look that sigma more on S&P 500 not stocks just from experience, just from observation? I've been using this for quite some time and that's what I have observed. And then we'll wrap it up with Tesla here for Tesla. There it is. And Tesla, there's usually a very strong correlation between options, trades, hedging, flow and price action. So there's hero for Tesla. And then let's take a look at book map. So that that move lower and Nvidia did not last long. And there's Tesla. Let's see if there are any spot gamma levels that are in play for Tesla. And no, they are not. All right. So Tesla confirmation short, long, short, long, and now price has started to move lower as the hero signal shifts down. All right. So that's Tesla. Let's take a one final look at the S&P 500, still bullish, still total signal. It looks like that sharp reversal was or drop lower was quickly reversed as options traders came in and quickly took positive delta positions. We'll go take a look at. Let's take a look at the NASDAQ signal. Then we'll take a final look at book map and then call it today. So that's the S&P 500. We'll take a look at the NASDAQ. Now it looks like here the options traders have not reacted as strongly as the S&P 500 options traders. This this line is pretty flat compared to the hero line for the S&P 500. All right. We'll wrap it up with book map. We'll go the S&P 500 and see the sharp reversal lower and then the quick recovery back up to the 413 level. So that is the ES, then the sharp reversal lower and here this up move is confirmed with order flow. Both the note the aggressive sellers, all this pink dots and then the aggressive buyers come in very sharp reversal. All right. My time is up. I think I've covered all the stocks that everyone mentioned. I want to thank you for watching. Thanks for your questions and comments. And I will see you tomorrow.