 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. I'll book map them into materials, information, and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. 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. Here's my contact information, I'm just a second adjusting my stream quality on YouTube. So just a reminder for those of you watching on YouTube, I am streaming at 1080p now, so if you're having any difficulties with screen resolution, you can just go to the gear on your YouTube output and adjust it to 1080p and that should alleviate any problems with screen resolution. And hello Don, welcome, glad you're here. Alright, so 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-duck 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, which I'll go through in just a moment. And also note that Bookmap Discord is free and available to everyone, whether you are a Bookmap subscriber or not, a lot of great content there about a wide variety of topics and a variety of languages. And hello Floyd's Garage, welcome, glad you're here. I'm also on X, formerly known as Twitter. My name there is at Doug Place. The focus of my presentation today and the focus of the options-duck 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. 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 in my process is execution. I look at real-time order flow in Bookmap and real-time market maker hedging flow on spot gamma hero to confirm my thesis and for setups for entries and exits. And when I talk about setups today, setups can be taken any number of ways. For example, in the S&B 500, setups can be taken with the S futures, spy shares, spy options, SPX options, or even futures options. Questions and comments are welcome. And I will be watching both the options-duck chat channel and Discord as well as the chat and YouTube for your questions and comments. Please feel free to post and I'll do my best to answer your questions. All right, here's my agenda for today. Tuesday, November 14th, CPI day. Wow, what a day. So I want to go over news items, economic data, and events for the week. There are plenty of earnings releases, none that I follow. None of the stocks that I follow. All right, so I'll start with news, then I'll go through my positional analysis for today. And really, that's all based on information before the CPI data. So again, we'll take a look at that. Then I'll review some setups from this morning. And that can be summed up as get long. And then finally, 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 news. So of course, the big event for today was the CPI data release at 8.30 a.m. Eastern Time. And all the numbers came in lower than forecast and lower than expected. And the market participants love that. The market shot straight up at 8.30 a.m. Eastern Time and then continued after the cash open. And then we'll take a look at that in just a moment. All right, so that's for today, the big event for today. Tomorrow, PPI data comes out, retail sales at 8.30 a.m. Eastern Time. Also, tomorrow is VIX options expiration. And then on Thursday, jobless claims. And then on Friday is the November monthly expiration. And after tomorrow, after today, we'll take a look at the makeup of this expiration as far as call-its-and-put-delta goes. So right now, the options expiration is looking like it is going to be call-dominated. I suspect that it will be even more call-dominated tomorrow into the end of the week. All right, so that is the data for today. Big event again, CPI market straight up. And then a few additional key events coming up for the rest of the week. All right, let's take a look at the positional analysis. Now, I'm going to start with the S&P 500. I'm going to tone down this heat map so we can see price action. Kind of unusual looking kind of sparse here in book map. Just adjust to the volume dots. All right, so quite a move today in the S&P 500. 8.30 AM data release. And then it looks like right now the SPX 4500 level acting somewhat as resistance. All right, let's take a look at the SPX in a larger time frame before taking a closer look at this chart. So I'm going to go to the SPX. This is a 30-day one-hour chart. And I've got the key turning points marked with these shaded areas. Let me just point out the last couple. So this is the October 30th Put Vanna rally. Traders loaded up on puts over the weekend. And then after the weekend, implied volatility collapsed. And there was a huge Put Vanna rally. On Monday, October 30th, market maker Notional Gamma was quite negative. Put dominated market. And as price moved higher, implied volatility drops. Those puts lost value. And market makers could buy back their short hedges. Huge Put Vanna rally. And then this is last Friday, November 10th. And that was the Magnificent 7 rally. I guess you could call that. Traders were buying calls in all the Magnificent 7 stocks. And I understand the price action for the last couple of days here is difficult to see because all these labels. I'll take a look at a shorter time frame in just a moment so we can see that more clearly. I do want to point out the levels on this chart. Going to start with the weekly expected move, shown with the dash purple lines. So the dash purple line showing the lower and upper weekly expected move. Note that SPX is trading above the weekly expected move. Then the dash blue lines. And that stays the same for it throughout the week. Then the dash blue line showing the upper and lower daily expected move. That changes every day. This is based both of these levels based on the options market. SPX also trading well above the upper daily expected move. There are also some spot gamma levels on this chart. They're shown with the dark red horizontal lines. I'm going to point out the key daily levels. First of all, here's the put wall. We down here at 4,000. That level did move lower from yesterday, from 4,200 yesterday down to 4,000, well out of play. The next level above that is the volatility trigger at 4,370. And that is spot gamma's proprietary volatility flip level. Below that level, market maker's position on the gamma curve is negative. In a negative gamma environment, market makers have to trade with price to hedge their delta exposure. On the other hand, in a positive gamma environment, like SPX is trading now well above that level, market maker's position on the gamma curve is positive. In a positive gamma environment, market makers have to trade against price to hedge their delta exposure. The next level up is 4,400. That is the absolute gamma strike. That's the strike with the largest absolute positive and negative gamma. And then above that is the call wall at 4,450. That's the strike with the largest net positive gamma that can be expected to act as resistance. SPX also trading well above that level. So SPX is trading. Let's just take a look at a shorter time frame so we can see these levels more clearly. This is three days of data for SPX, regular trading hours shown in the dark areas. So this is last Friday, the magnificent seven rally, then Monday, some consolidation, and then the huge gap up. Here's the upper daily expected move, upper weekly expected move, and also the call wall. So the SPX is extended above all those levels. Now it looks like maybe finding some resistance at this 4,500 level. And that is a combo L2 level, also a large gamma 1 level. And the combo level combines SPX and SPI, gamma weighted open interest into one level. And here shown in terms of price for SPX. All right, so those are the levels in play for today. All right, now here's book map. In book map I have my own cloud notes so I can show SPX levels. So here's that 4,500 SPX level, large gamma 1, and the combo level just below that. That's in terms of SPI, SPI 449. So here's the SPI 445 call wall, also the SPX 445 call wall. And ES is trading above its upper daily expected move and upper weekly expected move as well. So it's only Tuesday and the SP500 trading above all these levels. All right, now there is a difference between the price of ES and SPX. And today it is about 15. So ES minus SPX is 15. So the 4,500 level, SPX 4,500, is actually at ES 4515 as an equivalent level. All right, so really the key level so far today is this 4,500 level that may be acting as resistance. All right, that's the SP500, huge rally today. All right, let's take a look at NASDAQ. All right, X, Airy, Gamer, or X ask, is it really live or question mark? I'm sure I don't understand your question. What I'm showing right now is live data. This is live data in book map. All right, so you can confirm that with your own trading platform. So I'm showing ES futures in book map. And I'm showing equivalent SPI and SPX levels as well as some of the key levels for SPX in my book map chart here. And yes, again, this is live. All right, so that is ES. Let's take a look at NASDAQ, very similar chart. And I'm going to take a look at, first of all, QQQQ levels so we can isolate QQQQ levels and play for today. This is a one day chart for QQQ. Most of the move happened at 8.30 AM Eastern time. Then now QQQ consolidating around the 385 level, also this combo L2 level, combining QQQ and NDX, gamma weighted open interest into one level in this case in terms of QQQ price. All right, so that's QQQ. Note that QQQ also trading above it's call wall at 380. That call wall has been at 380 for quite some time. Let's take a look at NDX. And there's that same combo level. Again, combining NDX and QQQ, gamma weighted open interest into one level in this case in terms of price for NDX. And note that NDX is trading actually below its call wall at 15,900. All right, I forgot to mention for the S&B 500, there were a few shifts and levels. First of all, for SBX, I mentioned the put wall shifted lower. The volatility trigger also shifted lower. And then for spy, the call wall shifted higher, just likely from 443 to 445. So minor shifts in the SBX. And for the NASDAQ, NDX, the absolute gamma strike shifted higher. That's here at 15,500. And then for QQQ, the volatility trigger shifted higher. Similarly, minor shifts in the key daily levels for NASDAQ and SPX. All right, let's go back to the NASDAQ chart here. Again, very similar to the S&B 500. NQ trading above its, you can't see the level here, but you can see the dash blue line, upper daily expected move, upper weekly expected move, but still below the index call wall. But well above the QQQ call wall, which would be somewhere right around here. And again, chopping around this combo level. And we'll take a look at setups in a few minutes. All right, let's see how, take a look at gamma notional to see how market makers were positioned on the gamma curve at the beginning of the day. What I'm looking at is gamma notional market makers positioned on the gamma curve for SPX, SPI, NDX, QQQ, RUT, and IWM. So the S&B 500, NASDAQ, and Rosso 2000. Note for both the S&B 500 and the NASDAQ, these numbers are positive. That indicates that what spot gamma assumes is that traders are short calls. Market makers are long calls and in a positive gamma environment, and they have to trade against price to hedge their delta exposure in a positive gamma environment. And one interesting thing to note here. Today, the Rosso 2000, let me just check, is up almost 5%. NASDAQ about 2%. And ES just a little bit less than 2%. Note the gamma notional for IWM, still quite negative. That's minus 1.114 billion negative. So a huge put-vanna rally in the Rosso 2000 today. All right, note these numbers did shift lower. Still positive, except for IWM, which shifted slightly less negative, but still very negative. And I suspect these numbers will shift higher again tomorrow. All right, let's take a look at the Vanna model and get a graphical representation of what this means. I'm going to start with SPX. This chart is showing market makers delta notional, their delta exposure on the vertical axis, price on the horizontal axis. There are two curves on this chart. And the first curve is showing how market makers delta notional changes with changes in price only. And then the purple curve adds implied volatility to the equation. That shows how market makers delta notional changes with changes in price and implied volatility. And that change in delta with the change in applied volatility is the Vanna effect. And remember, market makers want to remain delta neutral. So their job is to make markets and manage their risk. All right, let's take a look at some prices now. First of all, SPX, trading right around $44.96. Somewhere right around here, where this vertical white line, that's at $4,500. So what this is showing, as price has been increasing, market makers delta notional is increasing. Remember, again, they want to remain delta neutral. So they have to sell futures to manage their delta exposure. So this is somewhat of a headwind for equities moving higher. On the other hand, if price drops, market makers have to buy back. Their delta notional will drop. They have to buy back their short futures. So they're trading against price. So they're buying as price is dropping. And again, that tends to subdue volatility. And this portion of the Vanna model, I'm sorry, but they are in a positive region of the gamma curve. Let's take a look at SPY, very similar curve, typical of a positive gamma environment. SPY trading around $4.48. Somewhere around here. So again, on the positive portion of this gamma curve, indicating as price increases, market makers will have to sell futures to hedge their delta exposure into that. QQQ, right around $385. Again, on the positive portion of this gamma curve, indicating as price increases, market makers will have to sell futures to hedge their delta exposure. Let's just take a look at IWM. All right, so this gamma Vanna model is more typical of a negative gamma environment. Remember, we just looked at, gamma notional for IWM is, at the beginning of the day, was minus $1.11 billion. Let's see where IWM is trading now. $177. Let me just check one thing here. IWM, the low of the day, was $174. Similarly, according to the Vanna model, not getting much of a boost, trading up to, not even shown on this, it's trading around, traded up to $178. So not even shown on this. But really, compared with the S&P 500 and NASDAQ, there has been no headwind, no positive gamma headwind for the IWM, for the Russell 2000. All right, so based on this, before the data, my thesis for the day was really looking for lower volatility typical of a positive gamma environment. And then that all changed after the data. So let's see what has been driving price today. So let's start. Let's take a look at some setups now. Let's go back to the S&P 500. We'll see what options traders have been doing. So this is the hero model, hero signal for the S&P 500. This is available to spot gamma subscribers. This chart is showing price for SPX with a white line and the hero signal for a combined signal of SPX by XSP and ES futures all into one combined signal. That is hedging impact, real time options, hero, H-I-R-O. That is showing options trades for all these instruments as well as market maker hedging activity. I'm going to zoom in on this chart. And options traders are often a key driver of price action. So let's take a look at some setups. So first of all, from the open, for just maybe five minutes, traders were taking negative delta positions. Then they shifted to positive. So the rising purple line indicates traders are taking positive delta positions. Market makers are taking the other side of those. And they have to buy futures to hedge their delta exposure. And that helps to support the price moving higher. And just after 10 AM, the hero signal levels off. Then a few minutes later, price starts to level off. The hero signal moves lower. Price moves a little bit lower. So this was, first of all, kind of a confirmation set up for a long at the cash open. And then divergent signal for a short, if you were brave enough to short today, when traders started taking negative delta positions, and heroes started making lower highs. Let's zoom out and look at the entire day. So overall, options traders were initially supportive of price moving higher. And then just right around 1045, they started taking negative delta positions. And price has really been consolidating ever since then. The total notional value for today is just under minus $2 billion. Let's take a closer look and see what traders are doing today. They are buying puts. They're also buying calls. Note in the morning, initially buying calls just a few minutes after the open. That activity stops. And that's when price began to consolidate. So really in the first, well, from 9.30 to around 11.15, call buyers were supporting the move higher. It makes this chart showing the separated puts and calls, makes it more clear what was driving price action in the morning. And again, around 11.15, call buyers take their foot off the gas. Price starts to move lower and consolidate. Let's go take a look at book map. Go back to the ES. I'm going to zoom in a bit. So we're just looking at the cash open. Traders buying calls. Let me just adjust this a little bit. Sorry, just bear with me for a moment. All right, so this is the cash open. Volume dots are showing market buy, minus sell. Green dots indicate more buyers than sellers. Magenta dots indicate more sellers than buyers. And there were a lot of net, a lot of aggressive buyers. Those are very large volume dots for ES. A lot of aggressive buyers at the cash open. Showing by the rising dark blue line, that is cumulative volume delta. Also notice the rising yellow line that's showing stop orders. This has definitely been a stop, fueled rally. Rising yellow line indicates buy stop orders helping to fuel the move higher. And at the cash open, ES was already above its upper weekly expected move, shown with a purple label there down at the bottom. And remember, traders stopped buying calls right around 1115, just above the SPX, at 4,500 level, and price started to move lower and consolidate around that 4,500 level. All right, so long set up from the open, supported by options traders. And again, they take their foot off the gas right at 1115. Also, aggressive sellers start to come in. Note that cumulative volume delta, the dark blue line has leveled off, starting around 1045. Showing an equal number of buyers and sellers. All right, so that's the day from the cash open. All right, so that's the SME 500. All right, XRE GamerX asks, I have a question. Is it possible to combine a book map with divergence? Do you also confirm something like this? Well, first of all, I do look at, I just talked about a hero divergence set up for a short. So let's go back, take a look at hero. So here's that divergence short that I was talking about. Options traders start taking negative delta positions, price moves lower. That's one of my favorite setups, hero divergence. Let's just zoom in on this chart just a bit. All right, that becomes more clear when I get rid of that big gap up at 830. So I definitely look for a short there or look for it, that's a clear divergence setup. Let's go back to book map. And sometimes there are divergences in CVD. All right, hope that answers your question. All right, let's take a look at NASDAQ and let me zoom in. So we're just looking at the, from the cash open. There's just a little bit cash open. A lot of green volume dots there, aggressive buyers. Note the sharp rise in the dark blue line CVD. And then it levels off just right around 945. Also that sharp move higher driven by buy stop orders shown by the rising yellow line. And it looks like the final point of the morning rally was right at NQ 15,900. Let's go take a look at hero for NASDAQ. We'll also take a look at the magnificent seven signal. So what this is showing is traders have been, been fading this move all day. So it's about 945 traders have been taking negative delta positions. All right, so there's your divergence setup. Traders started taking negative delta positions. It took a while, almost an hour, but then price finally reversed right at that 15,900 level that I pointed out on the book map chart. So the way I treat this is I'm looking for, once I see this divergence, I'm looking for an entry point for short in book map, looking for order flow and a potential resistance level to confirm that short. And let's take a look at this mag seven. This is the combined signal. Let me get back down with this. This is a combined signal for the stocks known as the magnificent seven. It's a very important hero signal just recently included. It's showing options, trades and market maker had an activity for a combined signal for Apple, Amazon, Google, Meta, Microsoft, NVIDIA and Tesla. And this is really showing somewhat of a mixed picture today. These stocks have been really strong. So far the gamma notional for this signal is net positive for today, but it's mixed up and down like a lot of these stocks. All right, slow it or sorry says Microsoft and ES slash NQ sold off at the same time. Well, that's certainly understandable. Microsoft is a huge component of both the SMB 500 and NASDAQ. All right, so kind of a mixed signal with magnificent seven here today, but net for the day they are buying calls and selling puts. All right, let's go back to NASDAQ and book map. So the idea again in that divergence is to look for, once you see a divergence, look for potential reversal in book map. Here's the first, just after 10, a lot of aggressive sellers coming in shown by the magenta volume dots and a reversal just above this combo level. That was good for a small move and then aggressive buyers came in one more time for one more push higher up to 15,900. The NASDAQ started to make a series of lower highs. So really the safe entry was that first lower high making that trend line. All right, let's take a look at some stocks. And so NASDAQ bound back down to its upper weekly expected move. All right, there were a lot of call walls in play for today. First, I wanna take a look at AMD. Let's go to hero. Take a look at AMD. So AMD opened right at its 120 call wall traded above, found support there and now has reversed lower net for the day. Traders are taking negative Delta positions, notion of value minus 20.6. So they're buying calls and buying puts, put buyers more aggressive. So right now AMD is down below its call wall. Let's go take a look at book map. There's the 120 call wall. Note the breach of the call wall in the morning. So when for a stock, spot gamma assumes that traders are long calls, market makers are short calls. When all those calls at the call wall level go in the money, when price increases above that level, those calls go in the money, their Delta will increase, market makers have to buy stock to hedge their Delta exposure. All right, AMD back down below its call wall now. Amazon call wall at 145, similar breach, Amazon still above its call wall. Let's go take a look at hero. Here's the 145 call wall. And note, this is a pretty typical pattern. A rush in the morning to buy calls and typically that activity lasts until, let's say about 11 a.m., somewhere between 11 and 12. And then the options traders take their foot off the gas and price moves lower. Let's see what they're doing in Amazon. So they were buying calls in the morning and that's what's driving. That's what was driving price higher. When traders buy calls, market makers sell calls and they have to buy stock to hedge their Delta exposure. And also those calls concentrated at the call wall were also going deeper in the money. Sorry about that, nothing I did. All right, let's go back to book map. Amazon opening print right around the call wall, move higher, traders buying calls, take the foot off the gas right around 10, price moves lower. All right, the next is Google. Google 135 is the call wall. So finding some resistance there. Let's go take a look at hero. And note this is for like a lot of these stocks, the move happened at 8.30 a.m. Eastern time and they've just chopped since then. So let's go take a look at hero for Google. 135 call wall in this case of Google acting as resistance. And let's see what traders are doing. So for Google, they are selling puts and buying calls. Puts shown by the positive notion of value selling puts and also, so they're selling puts and selling calls. Showing by the positive notion of value for puts and the negative notion of value for calls. Oops, sorry. All right, let's take a look at Netflix, another call wall on play, 450. That's also the key gamma strike. And now Netflix trading below its call wall. Let's see what traders were doing. So in the morning, they were selling puts and buying calls. Showing by the rising blue line, rising orange line. They take the foot off the gas and price moves lower. The typical pattern here in the case up to about 11 a.m. and price moves lower. Let's go take a look at Bookmount, go to Netflix. Here's Netflix, 450 call wall. Remember, traders taking positive delta positions. In the morning, right around 11, they take the foot off the gas, price moves lower. All right, X or E, Gamer X ask, in some areas, even though buying is done in that area, the price drops or vice versa, how can we recognize this so that we do not make a mistake? Sorry, I'm not sure I understand your question. Maybe if you could give a specific example. And just a general answer to your question is this takes time to understand. You know, there are no red arrows, green arrows. I'm just putting together information. When I'm trading, I'm looking at book map on one screen and hero on another screen and making decisions based on what I see on both. So again, it takes time and takes experience to know what to look for in both book map and in hero. So maybe if you could provide a more specific example, I can, I'll be glad to address that. All right, so one thing that I will be looking at for sure on Friday, Friday is the monthly options expiration, looking for a call gamma unwind. And we can, we'll take a look at that later on in the week, look at the amount of gamma expiring on Friday, all of it will be on Friday. So we'll look for a call dominated stocks with a lot of gamma expiring on Friday for short, potential shorts, if they haven't blown their brains out already. All right, let's go back and take a look at the SAP 500. Now maybe making a series of lower highs. Let's see what options traders are doing. All right, does anyone have any questions, any stocks they want me to take a look at? If so, I'll be glad to take a look at any stocks. Right in the afternoon here, pretty strong correlation between options trades, hedging activity and price action in the SAP 500. Both seem to be trending lower after around 1115, maybe leveling off somewhat. Check the magnificent seven NASDAQ. All right, XRE GamerX says I meant that for example, there is an upward movement, then price hits a sell order and a green circle appears at the same time in book map, but the price moves downward after this. So let's see if we can find an example of that. And I would say that that type of question is probably better suited for Bruce. He focuses strictly on ES or mostly on ES and he presents Monday, Tuesday and Friday at 10 a.m. And that's kind of his area of expertise. Gonna tone up the heat map. So I don't know if I can, let's maybe, sorry, trying to get the volume dots just right. All right, so the heat map and book map is showing a history of the limit orders in the order book. So these were limit sell orders just below ES 4500 and the green volume dots are showing that buyers were absorbing those orders. They were consuming those orders, price moves down briefly and it continues the uptrend. I don't read much into that if this is what you're asking. So what this is showing, limit sell orders in the order book, buyers were consuming those orders. Those limit orders act as magnets for price. Price moves down briefly and it continues the uptrend. I'm typically looking at the bigger picture. So in this case, I was focusing on what options traders were doing, where price might reverse. And typically on a day like this, I would not be looking for a reversal until at least 10 a.m. and probably closer to 10.30. So that first hour in a very bullish day like this is just gonna continue to be bullish. So I would, if I'm looking for a reversal setup, I'm gonna wait until at least 10.30. 10 at the earliest 10.30. All right, GamerX, I hope that answers your question. Again, if you have more specific questions about order flow like this, I urge you to watch Bruce in his live webinars, again, Monday, Tuesday and Friday at 10 a.m. and he can give you a more better answer for something like that. I'm focused on, he focuses on that level of trading activity. I tend to focus on a larger time frame. And Kaleed, you're welcome. All right, let's take one last look at the total bigger picture here. So really the question is, now will price follow this trend line or it will make it back up to the 4,500 level, 449, 449, 449 spy in SPA. That's 4,500 levels. Let's just take one last look at hero to see what options traders are doing. So it looks like heroes ticking up in NASDAQ, also ticking up in the S&P 500. All right, my time is up. One last question. Doug, what is your checklist for looking for a reversal? Thank you for all the knowledge you share and big love to the Bookmap team. Well, thank you very much for your kind words. Bookmap does a great service for traders providing a wide variety of webinars during the day, every day, free and available to everyone. And my checklist for looking at a reversal, you know, I don't have a specific checklist. So first of all, I'm looking for a hero moving lower. In this case, hero moving lower, traders taking negative delta positions. Then I'm looking for some confirmation and Bookmap. First of all, looking for a level, one of my spot gamble levels, for example, where that might act as resistance and then I'm looking for a shift in order flow. And that could be, you know, certainly the volume dots coming in, more aggressive sellers, lower high, large trader selling with iceberg orders, which they've been doing all day, that show them by the falling light blue line there, large trader selling with iceberg orders. All right, Floyd's Garage, you're welcome. Don, you're welcome. All right, my time is up. I wanna thank everyone for watching. Looks like the 449, 4500 level back in play. All right, again, thanks everyone. Thanks for your questions and comments. Thanks for watching. Tomorrow, remember PPI and retail sales at 8.30 a.m. Eastern time. Also VIX options expiration. We'll talk about it tomorrow afternoon. All right, everyone, thank you very much. See you tomorrow, bye.