 Hello everyone. Welcome to Options with Doug. Streaming live daily on Bookbap Discord and the Bookbap YouTube channel at 1.30 p.m. Eastern Time. Before I get started I need to go through the Disclosures. General Disclosure, all Bookbap limited materials, information, and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Risk Disclosure, treating futures equities and options involves substantial risk of loss. It is not suitable for all investors. Pass performance is not necessarily indicative of future results. Here's my content and contact information. The best way to get in touch with me is through Discord. My name on Discord is Doug P. Also in Bookbap Discord there's an options-dog 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. Note, Bookbap Discord has a wide variety of content, asset classes, stocks, options, futures, crypto, and also in a wide variety of languages. I'm also on X, formerly known as Twitter. My name there is at Doug Pless. Yesterday evening I did post on Twitter an NVIDIA setup that I talked about yesterday, NVIDIA long. If you're active on Twitter, please take a look. If you like what you see, give me a like and a follow. Here are the key tenets to my approach to trading. This is the basis of my approach to trading. First of all, I believe options, trades, and market maker hedging activity are key drivers of price and many stocks and futures. And for the S&B 500, SPX is the underlying index. SPI is the ETF version of that index and ES is a derivative of SPX. So when traders buy and sell puts and calls and SPX and SPI, 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 ETF version of that index and NQ is a derivative of NDX. And when traders buy and sell puts and calls and 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-duck chat channel is options order flow, the impact of options markets on stocks and futures, and the influence of market maker hedging flow on price action. I have a two-step process for trading 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 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. And when I talk about setups today, I'll be focusing on an underlying asset. For example, for the SB500, 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-duck chat channel as well as the chat and YouTube for your questions and comments. Please feel free to post. I'll do my best to answer your questions. Hello, Steven. Welcome. Glad you're here. Excuse me. Here's my agenda for today, Friday, March 8th. First of all, I want to go over news items, economic data, and events for today. Then I'll go through my positional analysis. Then I'll review my 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. Hello, Don. Welcome. Glad you're here. All right. News items for today. Of course, the big event, economic data release for the week was the jobs report. And that came in greater than expected and also greater than the revised previous number than the unemployment rate came in greater than expected, also greater than the previous number, so higher. All right, let's take a look at the market reaction to that. So this is the ES Futures and Bookmap, currently breaking two new lows. So this is the 8.30 a.m. unemployment data. Right here. This is the reaction to the jobs report. Bullish reaction and move a little bit move lower and then we'll talk more about this in a few minutes, what the ES SBX and SB500 is doing. All right, so that was the reaction to the data today. Initially bullish. All right, that is a, that's a spot gamma alert. We'll take a look at that in just a minute. Hello, Mark, using trading price and time afternoon. Good afternoon to you. Welcome. Glad you're here. All right, so as I said before, this is the ES Futures and Bookmap, currently breaking two new lows. Before I take a closer look at this chart, I do want to take a look at a larger timeframe. I'm going to take a look at the SPX. That's the underlying index. So I'm going to go to a one day chart. This isn't thinkorswim. So the current rally began last year, October 30th, and SPX rallied up the last time it looked about 1080 points from low to high. During this year, SPX, the call wall has moved up from 4800 to 5200. That's the current location that's shown on this chart. So that was a one day chart. Now we're going to take a look at the upper end of that range for the rally. There's that trend line that I was just talking about. Current high. SPX made a high today, 50, 51, 89. I'll talk more about the call wall in just a minute. All right, so let me point out the daily levels on this chart, 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. I update that once a week. That's based on the closing price for SPX from last Friday. And then the dash blue lines are showing the lower and upper daily expected move. Also based on the options market, based on the closing price from yesterday, I post those numbers in Bookmap Discord and the options-dash-dug chat channel every evening. And quite a move today, almost from the upper daily expected move now down to the upper lower daily expected move. All right, so those are the expected moves. Again, I post both those numbers in the options-dash-dug chat channel the evening before. All right, the other lines on this chart are Spot Gamma levels. These are proprietary Spot Gamma levels that are provided to Spot Gamma subscribers available on a wide variety of training platforms. This is Think or Swim. I'm going to point out the key daily levels. First of all, here's the put wall. That's strike with a large net negative gamma. That can be expected to act as support. The next level up is 5,000. That is the absolute gamma strike. That's a strike with the largest absolute positive and negative gamma. So that's where most of the gamma-weighted open interest is concentrated. Then above that is the volatility trigger VT. That's at 5,095. And then a Spot Gamma is 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 hitch their delta exposure. And that tends to enhance or increase volatility. On the other hand, above that level, market makers position on the gamma curve is positive. So note that SPX is still trading above its volatility trigger. Gamma Notional was positive to begin the day. So above that level, market makers position on the gamma curve again is positive. In a positive gamma environment, market makers have to trade against price to hitch their delta exposure. That tends to subdue or decrease volatility. And then the final level, key daily level is the call wall at 5,200. That's a strike with largest net positive gamma that can be expected to act as resistance. It looked like earlier today that SPX was heading up toward that level before that sharp reversal lower. All right, so those are the key daily levels. Let's wrap up our view of SPX by now looking at a one minute chart just so we get an idea of the levels and play for today. All right, so this dark shaded portion is the regular trading hours for today. All right, so it looks like now SPX has broken down below its lower daily expected move. Again, the volatility trigger at 5,095 is still down below. And earlier today, it looked like SPX was going to make it up to the upper daily expected move, upper weekly expected move just above that. And then the call wall just above that. But that sharp reversal, somewhere between 10 and 1030, as we'll see in a minute what was what I think was moving the market options traders. So again, SPX now reverse lower on its way up to those levels above. Now down below the lower daily expected move and also this 5,150 that has acted as resistance earlier. All right, let's take a look at book map now. And book map, I have my own cloud notes so I can show SPX levels. There's that 5,150 level that I was just talking about. So that's SPX 5,150. That was noted as a support level in the spot gamma am founders note. You can't see it here. But this white line is SPX 5,188. And that was noted as resistance in the spot gamma am founders note. And that was about resistance for the day. This cluster of levels, the spy 518 that 5,188 in the upper daily expected move, acting as resistance. So again, I have SPX levels on this chart. I also have spy levels. The yellow numbers just showing spy round double levels. Here's the spy 515 absolute gamma strike call wall. And then I also have key levels for ES. There's the 5150 level upper weekly expected move upper daily expected move. Note, there is a difference in price between ES and SPX. And that offset today is actually over four now. This morning when I was looking at it, it was closer to three and a half. So that's what I'm using. So I'm showing SPX 5150 at 51 53.5 ES 51 53.5. And it should actually be 51 54. And maybe even higher, maybe four and a half. I would say four. So the the EST SPX offset is four. All right, shifts and levels for SPX, there were none. And then for spy, the put wall shifted lower, and the absolute gamma strike shifted higher to 515 that I just mentioned. And note that I do post all the index relationships that I'm using in discord. I post the preliminary numbers around 9am and the final numbers around 10am. Also note that these was talk about ES to SPX that difference will converge down to zero or close to zero at the options roll over the the March, June, September, and December. And this is the last day that I will be using the March contract, the H contract. So on Monday, I'll roll over to June. And that difference that ES to SPX offset will widen out quite a bit. It could be up close to 50 points. So I'll talk about that on Monday. Alright, so for today, though, that offset is about four points. Alright, so I mentioned before this cluster of levels up above, acting as resistance. 518 51 88 upper daily expected move. Earlier today, the 515 spy 515 acted as support. And now the SB 500 is down to the spy 511 volatility trigger. And that's also just above the SPX 515 support level that was noted as support. And the spot game I am founders know. Alright, we'll talk more about setups in a few minutes. I mentioned shifts and levels just minor shifts for spy. Let's move on to NASDAQ. This is the NQ futures and book map. Pretty similar chart. Initial bullish reaction to the jobs report. Reversal between 10 and 1030. And now making new lows of the day. So before I take a closer look at this chart, I do want to take a look at the underlying index charts. Here's QQQ. Alright, earlier today, this 445 level act as a support. And that is a that's not one of the key daily levels. But that that is a gamma level around 418 448 acting as resistance. And now QQQ down at this combo level. And note that 440 is the absolute gamma strike. Alright, for QQQ. There was actually a bullish hat trick for levels shift higher and levels. The volatility trigger put wall and call wall also shifted higher from yesterday. That is bullish bullish hat trick. And the call wall shifted up to 450. The only level that remained from yesterday was the 440 absolute gamma strike. Alright, we'll get to that. Sorry about that sound that is alerts for spot gamma hero. We'll take a look at that in just a minute. Alright, so that is the the levels for QQQ quite a range today. Let's take a quick look at ndx. And for ndx, there was also a bullish bullish hat trick. Volatility trigger put wall and absolute gamma strike all shifted higher. So this is the 18,000 absolute gamma strike for ndx. Looks like it may be acting as support so far. Let me zoom in just a little bit. So this is about a day and a half worth of data. So our pretty spectacular reverse lower for the NASDAQ and the SB 500. And note, this is the upper daily expected move for NQ. Also acting as resistance. I also have my cloud notes here for NASDAQ. So I'm showing key numbers for NASDAQ. The red numbers are the zeros in the 50s for NQ. Quite a move lower. So far, right around 400 points lower. Daily expected now down below the lower daily expected move. Also the lower weekly expected move. There's that 18,000 absolute gamma strike. Huge move lower for NASDAQ. Sometimes the options market gets ahead of the the actual actual market. Again, we'll talk about setups in a few minutes. Alright, let's take a look. Let's wrap up positional analysis by taking a look at gamma notional. And then we'll take a look at the Vana model. That isn't something important to take a look at today. Alright, so this is gamma notional market makers position on the gamma curve at the beginning of the day. For the SME 500, NASDAQ, also 2000. Note all these numbers are positive. That indicates at the beginning of the day, market makers position on the gamma curve was positive. In a positive gamma environment, this indicates that traders are for an index traders are short calls market makers a long call since the positive gamma, and they have to trade against price to hedge their delta exposure. And for SPX and NDX, the numbers shifted lower. And for spine QQQ, the numbers shifted higher compared to yesterday. Alright, let's take a look now at the Vana model. This is definitely in play for today. And gives us an idea of how market makers may be reacting to changes in price and applied volatility. What this chart is showing is market makers delta notional their delta exposure on the vertical axis, the spot price for SPX on the horizontal axis. There are two curves on this chart. The first curve like gray curve shows how market makers delta notional may change with changes in price and price only. Then the purple curve adds implied volatility to the equation that shows how market makers delta notional may change with changes in price and applied volatility. And the purple curve is the one we want to take a look at. All right, so let's take a look at our SPX chart again. So SPX trading right around 41 19 right now lows of the day. Let's find that on this chart. 51 19 somewhere around here. Alright, so as price has been falling, market makers delta notional has been increasing. So their delta notional increases, they want to remain delta neutral. So they have to sell futures to hedge their delta exposure. So this is 10. This is enhancing or increasing the volatility when trader market makers are trading with price. And let's just take a quick look at a chart for VIX. This is a multi day chart. Let's let's take a look at today. So VIX has been moving up pretty much from the open. Even as price was moving up for about a half an hour after the cash open. Alright, so VIX is up pretty substantially about 7% today so far. So we know that starting around 10am 10 to 10 30 price was falling implied volatility increasing. Market makers delta notional was increasing. They want to remain delta neutral. So they have to sell futures to hedge their delta exposure. Alright, so that is setting up our positional analysis for today. So just based on the gamma notional, I was looking for moderate volatility today. And the VANA model is showing as price has been dropping. VIX increasing that volatility is definitely increasing during the day. And just based on the shifts and levels, I was pretty much neutral for the SB500. And initially bullish for the NASDAQ based on the hat tricks bullish hat tricks for NDX and QQQ. Alright, let me check for questions. Hello, G cell. Wonder if you read YouTube chat messages. I do read them live. But I do not generally do not go back and look at previous chat in YouTube. So if you want something that's more persistent, join us in the options dash jug chat channel and bookbap discord and SK serif. Ask, Can you please analyze nifty 50? Sorry, I don't know what nifty 50 is. I here's what I here's what I follow. Yes, futures, NASDAQ futures, and the large cap tech stocks, the Magnificent Seven and a few other stocks. Sorry, nifty 50. SK says nifty 50 is an Indian, Indian index. Sorry, I do not. But there are there is an Indian in a trading room for Indian speakers or an India trading room in discord book map discord. Sorry, that was hard to spit out. So again, if you want more about the nifty 50, just join us in book map discord. And there's a trading room and also a webinar for the Indian stock market. Alright, so G cell was asking about book map basics. I really say well, first of all, I suggest for book map basics, you go to the book map dot book map dot com website, go to the learning center, you can get started there. There are a number of number of videos, and then also join Bruce. He is the director of education at book map. And his webinar is Monday, Tuesday and Friday at 10am. And he he goes over the basics. So my my focus, as I said in my introduction, is really focused on options and a more advanced use of book map and spot gamma. Alright, so SK, if you're want to use book map for scalping, I suggest Bruce's webinar as well. And I do talk about trading, but I alt forms of day trading, but I look at a larger timeframe. Alright, let's move on. Let's start with some setups now. Alright, so everything that we've looked at so far, this Vana model, gamma notional, the levels on the charts, that's based on static data that's updated once a day sometime overnight spot gamma takes open interest data. And they apply their proprietary algorithms to that data to come up with the information that we were just looking at that I use for my planning and positional analysis. Now let's move on to execution. We'll look at real time data. I'm going to start by taking a look at what options traders have been doing today. So this is the hero signal, H I R O hedging impact real time options. What this chart is showing is options trades and market maker hedging activity for a combined signal of SPX by XSP and ES futures all under one combined signal. The white line on this chart is showing price for SPX. And the purple line is the hero signal. A rising purple line rising hero signal indicates traders are taking positive delta positions. They're buying calls and or selling puts in a following hero signal indicates traders are taking negative delta positions. They are buying puts and or selling calls. And this number here to the right, that is the total delta notional for the day. And that is quite negative. At let me see what this at the low of the day that was right around minus nine billion that may be the lowest number I've ever seen. Very, very negative. Alright, let's zoom in on this chart. We'll take a look at a setup. Alright, the key to this chart. This is just a beautiful divergence set up. Initially, traders traders were taking positive delta positions. And note how the hero signal shifts lower just around 1010 price consolidates. And then it took quite a while for it finally to start moving lower. Just a great divergent signal, giving you plenty of time to look for an entry for a short. It just doesn't get any better than this. Alright, so let's go to yes, zoom in. Hello, Caesar. Welcome glad you're here. And Steven, thanks a lot for your help in YouTube. Really helping me out answer those questions answering those questions. Alright, so remember about 1010. Traders started taking negative delta positions. So we're right in here. And then he has started to make a series of lower highs. And there were more aggressive sellers coming in that shown by the volume dots. Green volume dots you see on the way up here. Those are indicating they're more buyers than sellers. Magenta dots indicate more sellers and buyers, those are market orders, aggressive buyers and sellers. More aggressive sellers coming in as prices making lower highs and traders are taking negative delta positions. During this time around 1030 cumulative volume delta shown by the dark blue line starts to make lower highs. Then everything shifts pretty sharply lower just right after 11am. And as price starts to move lower, the yellow line is showing cell stop orders fuel the move lower. Also shown by the on chart indicator. Right so great, great short, phenomenal leading indicator for hero today. Great divergent signal zoom out. Midday consolidation, then price breaks lower. All the lines in the sub chart falling. Again, the yellow line is stop orders cell stop orders fueling the move lower. And also note the light blue line that's showing iceberg orders. Often large and that's what large traders use to hide their size. Often they will be moving in the opposite direction of price. And today they're moving in the same direction. cumulative volume delta falling cell stop orders fueling move lower, as well as large traders with cell iceberg orders. They're using to hide their size. Very, very bearish day as options traders are also taking negative delta positions. Let's go back to hero. I'm going to switch to puts and calls. And I'm gonna have to jump to another signal, and then jump back to avoid the auto zoom. Alright, so these now are separated outputs and calls. The orange line is showing calls. So initially in the morning, traders were buying calls. And then just right around 1010. They stopped buying calls started selling calls. And pretty much from the open traders were buying puts that shown by the falling blue line. The direction of these lines is in terms of delta. So falling blue line indicates traders are buying puts that's negative delta. And then falling orange line indicates traders are selling calls that's also negative delta. So when both the orange line and the blue line are moving in the same direction, that's a very powerful directional indicator. With both moving down, it's difficult for the market to move any direction other than down. So based on everything that I've looked at, I'll we'll talk about in just a few minutes. The SMB 500, the call buyers to sellers were leading the market lower. Alright, let's take a look at NASDAQ now. And for NASDAQ, I like to take a look at this mag seven signal. So let me show you what this is. This is another combined signal. This is showing options trades and market maker heading at hedging activity for the stocks known as the Magnificent seven, Apple, Amazon, Google, Meta, Microsoft, Nvidia and Tesla. And this has been a very good indicator for the NASDAQ. These stocks make up a very large component of the NASDAQ 100 and lead the NASDAQ 100 and somewhat the SMB 500 up and down. Alright, so initially in the morning, traders buying calls that abruptly stopped at 1030. They started selling calls. They were also selling puts that abruptly shifted at 1030. They started buying puts. Again, orange line, blue line moving in the same direction. Alright, RS, I was just going over that RS ask, can I explain those lines? Alright, the white line is the price. And that's actually the price for QQQ that shown here price for QQQ. And then the orange line rising orange line indicates traders of buying calls. And that combined signal for the mag seven stocks, when traders buy calls, market maker sell the calls. And they have to buy stock to hedge their delta exposure. That are roughly shifted at 1030. Traders started selling calls that shown by the falling orange line. The blue line is showing puts rising. These are in terms of delta rising blue line indicates traders are selling puts. And a falling blue line indicates traders are buying puts. So again, that shifted right around 1030. Let's go take a look at NASDAQ and book map. So this is the upper daily expected move for NQ, that dash blue line. That's what acted as resistance. That's where the NASDAQ turned lower. Let's zoom in. It'll take me a minute to adjust this chart. There's so much range in the previous few. Sorry about that. Right, we'll leave it there. Alright, so let's take a look at the volume dots first. Green volume dots, more buyers than sellers, aggressive buyers on the way up, aggressive sellers start to come in as NQ approaches the upper daily expected move. And then NQ starts to make a series of lower highs, more aggressive sellers coming in, shown by the magenta volume dots, cumulative volume delta shifts lower, shown by the dark blue line. And as price starts to move lower, sell stop orders help to fuel the move lower. As traders were taking negative delta positions in the mag seven stocks, right, we'll just zoom all the way out. And unlike the ES, now it looks like large traders are attempting to buy fade this move lower with iceberg orders they're using to hide their size again, the rising light blue line indicates indicates large traders are buying with buy iceberg orders. Alright, so RS says you can configure sound output levels for different applications. Sorry, I'm not sure how to use that. Alright, if the if the alerts are an annoyance, I can turn those off. Alright, let's take a look at some stocks now. Alright, the first stock I want to take a look at is Apple. Apple bucking the trend today. So let's go to hero. Take a look at Apple. Call buyers definitely driving price higher and Apple note the flow alert that came in just around 945. Rising orange line indicates traders are buying calls. And when traders buy calls, market makers sell the calls. And they have to buy stocked as their delta exposure. And note that Apple is now trading above its 172 50 call wall. Haven't seen that in quite a while. Alright, let's go take a look at book map and Apple. So 172 50. It's not shown on this chart. But 172 50 is the call wall. It's right here this liquidity. Apple made it up to that level reverse lower. And now is moving higher. Note the rising cumulative volume delta a lot of aggressive buyers in buying Apple. Alright, the next is AMD. And the recent daily range for AMD has been been quite large. There was a time where AMD moved maybe two or three points a day. And now you can see it is quite large. Huge run up in the morning. And then just spectacular reversal right at 1030 with the mag seven stocks. Let's see what options traders are doing. Let's go to AMD, aggressive call buyers. And the morning note to 210 is the call wall key gamma strike and put wall just below that at 207 50. So again, traders buying calls right around 1030 that shifts. They start selling calls, start buying puts blue line orange line moving in the same direction. And price moves lower. Alright, let's check the 210 level on the 207 50 level. So there's the 210 level call wall and put wall. Summer between these two levels at 207 50. So AMD did trade below its put wall earlier today. Alright, the next meta just volume dots just a little bit. Alright, for meta 520 is the call wall. Price breached that level briefly. This is very typical for meta. Let's just take a look at at hero. Let's go to meta. This is very typical for meta. aggressive call buyers that the open note the flow alert that comes in looks like around 935. 500 is the key gamma strike. 520 the call wall price breaches that call wall level. Call buyers take their foot off the gas. 1020 so ahead of the 1030 reversal for the mag seven signal, traders start selling calls. So a little bit of a leading indicator for the mag seven stocks. As traders start selling calls, price of versus lower. Remember, 500 is the key gamma strike. 500 looks like that may be acting as support. 500 key gamma strike 520 call wall reversal at that level. And price moves all the way down 20 points to the 500 key gamma strike. Also note the liquidity that stacks up at these levels. Typically for stocks, this liquidity shown by the the heat map and book map, the darker bands indicate there are more errors or more orders in the order book. So the heat map showing history, the limit orders in the order book, typically for stock, the limit orders, high price stock like meta limit orders will stack up at the zeros and the fives. And for stock, also, they typically stay in the order book from the around the cash open until they're filled. sell orders up above price here at 520. They were consumed price moves lower down to the 500 level. And consuming orders, buy orders that at that level. Let's take a look at Nvidia. Alright, Nvidia looks like I over just my levels. Sorry, I haven't looked at Nvidia since this morning. Or Nvidia 1000 is the call wall. So Nvidia look like it was trying to get up there this morning. Let me turn off this absorption indicator. So we can just look at price action. So lots of liquidity, lots of sell orders here. At the 975 level. Looks like Nvidia did not quite make it up. Let's go take a look at at hero. So note, before we do that, the cumulative volume delta, starting around 1030 dropping. You can see the shift in the volume dots aggressive buyers on the way up, aggressive sellers on the way down shown by the large magenta value of volume dots. Alright, let's go to hero. Take a look at Nvidia. And this is I pointed this out many times. The Nvidia signal is often leading the or the identical almost to the mag seven. So Nvidia leads mag seven leads NASDAQ. Aggressive call buyers on the way up until 1030. Start selling calls. Start buying puts. Note the flow alert that came in just a few minutes after the cash open. So now blue line orange line moving the same direction. Price moves lower. Looks like they may be taking their foot off the gas a little bit. And Nvidia is consolidating. 845 is the put wall. Price is not down there yet 900 is the key gamestrike. Alright, let's take a look at the alerts. Alright, so this is the alert that just came in for IWM. And it looks like these alerts come off this list pretty quickly. So I'm looking at alerts just for the stocks on my watch list, which are shown here. Let's take a look at IWM. So this flow alert coming in signaling significant options activity. So it looks like there's some call buyers coming into IWM. I do not have IWM book in book map. Alright, does anyone have any stocks they want me to take a look at? Alright, so it looks like the hero signal for the SB500 may be turning higher. So now they've started buying calls and selling puts check mag seven. Alright, so as I mentioned before, looks like some consolidation here there. They've taken the foot off the gas. Now it looks like this price for QQQ is starting to rise. Alright, WRB wants to take a look at Tesla. Oh, Caesar wants to take a look at Broadcom. Let's take a look at that first. I do not have Broadcom in book map. We can take a look at hero. Alright, so it looks like Broadcom reverse lower. Right around the 1400 T gamma strike flow alert right at the open as traders were selling calls. They've been selling calls. That's really driving price. Notional value negative for the day. Also, they have been buying puts, but the call sellers have been driving price looks like the call sellers have taken the foot off the gas. Put buyers also have taken their foot off the gas. Now price is moving a little higher. Yes, Caesar says that's amazing. Almost no put activity. It seems this is a call driven market pretty much. Alright, WRB wants to take a look at Tesla. Let's go take a look at the total signal. Gonna jump. Jump back to Tesla. Little bit choppy hero signal, but definitely negative for the day. Options traders taking negative delta positions in Tesla and market makers take the opposite side and moving price lower. We can take a look at Tesla and book map. I do have that a book map. Let's go to Tesla. Note the high liquidity at 175. Looks like I need to adjust my lines for Tesla as well. My lines, I'm talking about these over here in the lines on the chart. I use an add on called price lines. I just will update my spreadsheet and it will show the lines in the current range. A lot of aggressive sellers in Tesla to date. Note all the today, note all the magenta volume dots. Nice pullbacks for shorts. Here to VWAP, the light blue line. Let's go back to hero. Alright, there's no no significance to the 175 level. 180 is the key gamma strike edge wall. That's 180 here. Alright, for the past week, I have shown the trading features in book map. And I have placed several trades. These trades were not meant to be representative of actual trades. I did those just to illustrate the trading features of the trade control panel. Here in book map. That was the entire purpose of those trades. I normally don't trade this time of day. Let's go back and take a look at take a look at Meta for example. In this part of the day, say 932, 930 to 12, I find a lot more clarity, both in the order flow. And in the hedging flow, let's go back to go back to hero. So that's when I trade Meta typical of the market straight up, straight down. Then this time of day, often the hero signal will start to flatten out. So a lot more clarity for me when the hero signal is definitely moving up or moving down. We'll go to the mag seven. So again, the trades that I put on the last week, simply meant to illustrate the trading features in book map and not actual trades that I would take. So I showed how to use the trading trade control panel for futures and for stocks. And let me just summarize real quickly. What you need to trade in book map it is a trading platform. First of all, you need book map global plus. There are two versions of book map that you can use for stocks and futures. Global and global plus if you want to trade within book map, you need global plus, you need to subscribe to data. I use rhythmic data for futures, DX feed data for stocks, I use the DX feed bundle. You also need a connection to a broker. Here I've got a trial for interactive brokers. I've also tried trade station, both for stocks, and then trade of eight is what I use for futures. In the trade control panel, you can just control various parameters, whether you want to trade on the chart. And let me start this. Whether you want to trade on the chart, the dome or both, I like to trade on the chart. And for futures, you can use the cross instrument trading feature. I've been showing how to use the ES chart to trade the micros. You can select the number of contracts, you can set up a bracket with take profit orders, and a stop loss order. And then once you place, place a trade and it's filled, you can adjust your stop and take profit levels on the chart. I'm gonna turn that off. Alright, everyone, my time is up. I want to thank you very much for watching. Thanks for your questions and comments. Next week, I think we have CPI data coming up. And I'll talk more about that on Monday. Alright, everyone, have a great weekend. And I will see you on Monday. Thanks again. Bye