 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, excuse me. 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, training 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. The best way to get in touch with me is through Discord. My name on Discord is Doug P. In Bookmap Discord there's an option stash Doug chat channel and that is a great place to post questions, comment and content related to the topics of this channel which I'll go through in just a moment. And by the way Bookmap Discord is free and available to everyone whether you subscribe to Bookmap or not. And there's a ton of great content there including my channel of course. And I'm also on X formerly known as Twitter. My name there is at Doug Plus. The focus of my presentation today and the focus of the option stash Doug 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 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 and spot gamma hero to confirm my thesis and for setups for entries and exits. And when I talk about setups today, I will be talking about setups in an underlying asset. For example, the S&P 500 setups can be taken with ES futures, SPY shares, SPX options, SPY options or even ES options. So a variety of one underlying I'm looking at the S&P 500 setups can be taken any number of ways. Questions and comments are welcome and I will be watching both the option stash dug chat channel and discord as well as the chat and YouTube for your questions and comments. So please feel free to post and I'll be be glad to do my best to answer your questions. And hello, Don. Welcome. Glad you're here. All right. Just as a reminder, I am streaming and 1080p now in YouTube. So if you have any issues with the resolution on your screen, you can check the settings in YouTube and you should be able to move that up to 1080p. All right. Here's my agenda for today. Tuesday, October 24th. First of all, I'm going to go over news items for today, economic data events and earnings for today and for the rest of the week. Then I'll go through my positional analysis. Then I'll review some setups from this morning 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. Our list gets started. So today, there was some lower medium impact data that came out at 9.45, I believe, the PMI data. Let me just check that real quick. Yeah, PMI at 9.45 a.m. Services PMI, also manufacturing PMI. Both numbers came in greater than expected, greater than previous. All right. Then, of course, earnings after the close today. This is an earnings chart, earnings calendar from Spot Gamma. And here's the stocks that are reporting this afternoon, primarily Google and Microsoft, the stocks that I follow. And right now, this is showing the expected move for Google around 4.5% and for Microsoft 3.83%. So those are the expected moves that you can use if you choose to, for any setups, earnings trades that you want to put on. So that's our earnings for today. All right, for the rest of the week, tomorrow, new home sales are reported at 10 a.m. Dronpal is speaking after the market closes and then Meta reports earnings after the market closes. That's on Wednesday and the expected move for Meta is a little bit higher than Google and Microsoft at 7.26%. And then on Thursday, 8.30 a.m. Eastern Time, durable goods are reported as well as the GDP, again, 8.30 a.m. Eastern Time. And then Amazon reports earnings after the market closes. That's right here. And looking for about a 5.9% move for Amazon. And then Friday is the PCE report that is at 8.30 a.m. Eastern Time, and that could be a market mover, the PCE report. And then next week, the big event is the FOMC meeting and announcement and that is on the 1st, November 1st. All right, so that's the economic data events and earnings for this week and then a preview of next week. All right, let's start with positional analysis now. This is the SAP 500, ES Futures and Bookmap. And before I take a closer look at this chart, I'm going to take a look at a larger time frame, down these volume dots just a little bit. All right, so I'm going to take a look at a larger time frame. I'm going to go to an SPX 30-day one-hour chart. This is just showing price and key levels. And hello, Joel. Welcome, glad you're here. All right, so this is SPX 30-day one-hour chart. Let me point out the key turning points. First of all, this is the September 15th call-dominated options expiration as those calls that were stabilizing the market expired. SPX move lower. This is the date of the jobs report, October 6th. And that was a gamma squeeze. And SPX moved higher. Found resistance right around 4380. That was the upper-weekly expected move, previous upper-weekly expected move. And also there were Treasury yields rising and the Hamas invasion of Israel. SPX moved back lower. And then last Friday was the October expiration, very put-dominated, negative gamma expiration. And typically in a negative gamma, put-dominated expiration, those puts expire, market makers can buy back short futures and that leads to put-vanna rally. And I guess it remains to be seen. Actually, this is Friday here. So I'm pointing to Monday. That's what I have shaded. And with the geopolitical events and other issues that put-vanna rally so far has not done anything more than just consolidate at these levels. No real rally so far. So those are the key turning points. And potential turning points, this October expiration, potential turning point, still remains to be seen. All right, let's take a look at the levels on this chart. First of all, here is the lower and upper-weekly expected move. It's based on the options market. And that's shown with the dash purple lines. And the dash blue lines are showing the lower and upper daily expected move. So the weekly expected move, that changes once a week. I update that over the weekend. And then the daily move changes every day. And I update that at the close of the previous day. All right, so SPX is trading within the expected daily range today as well as the expected weekly range. All right, so those are the expected moves, daily and weekly. All right, let's take a look at the spot gamma levels now. These are proprietary spot gamma levels provided to spot gamma subscribers. I'm going to point out the key daily levels. So first of all, way down here at 4000, that is the absolute gamma strike. That's the strike with the largest absolute, positive and negative gamma, call and put gamma. And the next level up is 4200. That is the put wall. That's the strike with the largest net negative gamma that can be expected to act as support. Note that level has not changed in the last couple of days. And then above that is the 4300 volatility trigger. That is spot gamma proprietary gamma 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 hedge 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. In a positive gamma environment, market makers have to trade against price to hedge their delta exposure. And that tends to subdue or decrease volatility. And note that SPX is trading well below its volatility trigger right now. And then finally, the call wall at 4500 today that's the strike with the largest net positive gamma that can be expected to act as resistance. And that level did move up from 4400 yesterday to 4500. So that's not really in play. That is just moving up that potential ceiling. But that is so far out of play that it really does not have any impact on my analysis and thesis for the day. The volatility trigger did shift slightly lower. Otherwise, there were no other shifts. No shifts in the put wall or absolute gamma strike. All right. So that is the 30 day chart. Let's take a look at a one hour chart just to see the levels in play for today. So here's SPX. There really no spot gamma levels directly in play for today. The only level has been this upper daily expected move right around 4250. And the 4250 was noted as resistance in the spot gamma AM founder's note. All right. So again, no other spot gamma levels directly in play for today. And that is not a spot gamma level. That's just the upper daily expected move. 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 the SPX 4250. I also have SPI levels on this chart. Here's the 423 level. And around that level is a combo 4 level that combines SPI and SPX. Gamma weighted open interest into one level converted to SPI and then I've converted it to an equivalent ES number. So I have SPI, spot gamma levels as well as round number levels and also SPX spot gamma levels on this chart. And it looks like so for so far this is the low of the day. Just right around the SPI 421 level. All right. So kind of a lackluster day in the SAP 500 today. And this is really what what spot gamma was calling for a kind of a quiet, quiet day in the SAP 500 actually until the FOMC meeting next week. So looking for kind of a quiet period in the SAP 500 and then looking for a larger directional move out of the FOMC meeting next Wednesday. And there, you know, of course there are factors that could impact that this week. The earnings that I mentioned, large cap tech stock earnings reports that I mentioned as well as the economic data, especially the PCE data. All right. So that is the SAP 500 for today. Let's take a look at NASDAQ. NASDAQ. And I'm going to take a look first of all at QQQ chart. So this is the NQ futures and book map. I'm going to take a look at a QQQ chart to isolate the QQQ levels and play for today. First of all, here's the 360 level and around that level acted as resistance this morning. 360 is the volatility trigger for QQQ and that level did move lower from yesterday. It was 363 yesterday. And then here's this combo level right around 355 acting as support more or less. Anyway, those spot gamma levels definitely define the range for QQQ today. Sorry, hit the wrong button on my pen tool. Not sure what happened there. I think that was a whiteboard. All right. Let's take a look at NDX. See if there are any gamma levels in play for today. Here's that combo level. The combo levels combined for the NASDAQ combined QQQ and NDX gamma weighted open interest into one level in this case combined into an equivalent NDX number. And then that's just above the call wall, which is also the absolute gamma strike at 14600. All right. Let's go back to NASDAQ. All right. So here is the QQQ 360 level. Again, I have my own cloud notes. So I can show QQQ and NDX levels as well as NQ levels. So there's the 360 level more or less acting as resistance and then this cluster of levels below the combo level and also the call wall as well as 14700 in NQ acting as support. All right. Two men asked expected moves show that ES would have a calm day. Not necessarily. I'm saying that was what spot gamma was looking for. For today the expected move for SPX was plus or minus around 34 points. So that's on the high side. So what spot gamma was calling for was kind of a quiet period leading into the FOMC meeting next week. And the expected move for SPX was 34 points, which is not as high as it has been. It was 42 yesterday. 42 yesterday. So it is calming down a bit. 43 the day before, 35 before that. So calming down a bit. And Truman, yes, in the founder's note. And base five NYC says he just started using book map for futures and crypto. Finding it very helpful. Definitely have a long way to go to truly understand all its uses. Yeah, it takes some time. Be sure and go through the learning center on the book map website. There are plenty of great videos that will help you get started. And then book map offers for free a number of streamers during the day that address different topics, different approaches to the market. All right, so again, glad you're here. Welcome. Take your time. All right, let's get back to the NASDAQ now. Those are the levels of play for today. 360 on the upside. And then the around the combo level 60 at 14608 in DX on the downside. And we'll take a look at setups in a few minutes. All right, let's take a look at gamma notional. To see how market makers were positioned on the gamma curve at the beginning of the day. This is gamma notional. For SPX, spy, NDX and QQQ. And NDX typically is not significant compared to the others. So I just look at SPX, spy and QQQ note all these numbers very negative. And there were kind of a mixed picture on these numbers as far as excuse me changes from yesterday. First of all, SPX both SPX and spy the SP500 both shifted lower, more negative than yesterday. So this is, this is quite negative indicating in this case traders are long puts, market makers are short puts and market makers have to sell futures to hedge their delta exposure as in the direction of price. And then QQQ is also negative, but less, slightly less negative than yesterday. So mixed picture on the changes in gamma notional. Let's take a look at the Vana model now to see. Actually, let me see a graphical representation of what, what that means. So I'm going to start with SPX, take a look at the Vana model. What this chart is showing is market makers delta notional on the vertical axis and price for SPX on the horizontal axis. There are two curves on this chart. First, the light gray curve shows how market makers delta notional changes with changes in price only. 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 implied volatility is the Vana effect. Vana is a second order Greek. And that's the curve that we want to take a look at. All right, let's see where SPX has been trading. Let's go back to our SPX chart for the day. High of the day, right around 42.58 and low of the day, 42.19. So let's go back. Let me check that again. 42.58 and 42.19. So here's 42.58 right here toward the bottom of the curve. So at this point any put Vana fuel had been pretty much used up. So what this is showing is if price continued to increase, market makers delta notional would drop slightly and they could sell their short futures, get rid of their short futures, buy their short futures. So they're moving, I'm sorry, buy their short futures back. So that it can help to fuel a rally. But at this point, at this high point for today, that put Vana fuel is almost used up. Then on the other hand, as price drops and implied volatility increases, market makers would need to sell futures to hedge their delta exposure. Remember as their delta exposure increases, they need to sell futures. So in this case, on this portion of the Vana curve, market makers are trading in the direction of price. So this is what happened during this drop today as market makers delta notional was increasing and they had to sell futures to hedge their delta exposure. Let's see where SPX is trading right now. SPX is right around 42.32, somewhere between these two lines. So there is a little bit of put Vana fuel in the tank at this point indicating as price increases implied volatility drops. So price is increasing, market makers delta notional is increasing and they can buy back their short futures. On the other hand, if price continues to decrease, market makers delta notional increases and they have to sell futures to hedge their delta exposure. And note the shape of this curve is very typical of a very negative gamma environment. In a positive gamma environment, there would be much more of a slope up on the right side. So that is SPX. Let's take a look at SPI. In Floyd's garage, market makers have to sell futures as price increases. Now they can buy back short futures. So they're trading in a negative gamma environment. They're trading with price. So as price increases, those puts, traders along puts, market makers are short puts. And I'm talking about SPX and SPI puts. Those puts are losing value. Market makers delta notional is decreasing. They no longer need their short futures so they can buy them back. So just look at the shape of this curve. On this portion of the curve, market makers are trading with price. And then in a positive gamma environment, this portion of the curve would be moving up to the right, indicating that market makers would need to trade against price to hedge their delta exposure. So right now SPI trading right around 422, just above the low of the day. So this indicates at this point there is some put van of fuel in the tank for a rally. And on the other hand, if price continues to drop, market makers will need to sell futures to hedge their delta exposure. Again, remember they always want to remain delta neutral. Finally, let's check on QQQ right around 357 right here. So a little bit of put van of fuel in the tank. And a lot more if price decreases, market makers will have to sell futures. Alright, so based on this, I was really looking for, there were not enough shifts in levels to make any clear determination for the SMB500, the volatility trigger shifted lower for SPX and SPI, call wall shifted higher. And then for QQQ, the volatility trigger shifted lower and that was it for the NASDAQ. So really no shifts in levels, not enough shifts in levels to make any determination about a directional bias. So my primary thesis for today was looking for the post put dominated options expiration put van of rally to continue. And again, that is complicated by geopolitical events and interest rates, other factors. Alright, so let's take a look at some setups now. I'm going to start with the SP500. And the first thing I'm going to do is see what options creators are doing today. This chart is the hero signal, hedging impact real time options. So everything that we've looked at today on the Spot Gamma website other than book map of course, which is real time. So everything else that we've looked at that I've shown for my positional analysis is static data. That's based on primarily gamma weighted open interest that's updated once daily sometime during the night. Alright, so we're going to start real time data now. The first is this hero signal to see what options traders and market makers are doing. So the white line is showing the price for SPX and the purple line is showing options trades and market maker hedging activity for a combined signal for SPX by XSP and ES futures. Combining all of that into one signal and this is typically the signal that I look at for the SP500. Alright, let's zoom in on this and note when the purple line is rising that indicates that traders are taking positive delta positions. And let's focus on the morning. Note the rising hero line also timely flow alert there as traders were taking positive delta positions and price was choppy making a lot of pullbacks. But we'll see in a minute that they were the price for the SP500 ES futures was pulling back to VWAP and providing good long entries. So let's take a closer look and see what traders were doing. So in the morning what they were doing they were buying calls that's shown by the rising orange line and notice around 11 o'clock they took their foot off the gas. And in the morning they really weren't doing much with puts they were slightly selling puts and then that activity shifted to buying puts. Several between 10.40 and 11 o'clock. So taking a look at what traders were doing with puts and calls in this case provides more clarity. Let's go take a look at book map and we'll take a look at this reversal in a few minutes. I want to focus on the morning setup so we know that traders are buying calls when traders buy calls market makers sell the calls. And they have to buy futures to hedge their delta exposure. Selling calls that's negative delta so they have to buy futures to hedge their delta exposure. So here are the long entry points right at VWAP that light blue line as well as this 423 level. Note that cumulative volume delta is rising slightly that's shown by the dark blue line. Also the yellow line rising indicates that buy stop orders are fueling and move higher. And in every reversal you can see the shift in order flow from magenta dots the volume dots are showing market buy minus sell. A magenta dot shows there are more sellers than buyers and green dots show more buyers than sellers. So it's very apparent here at this third test didn't quite make it to VWAP but the shift from bearish order flow aggressive sellers to aggressive buyers. And ES continues to move higher as traders were buying calls and again aggressive buyers were in ES. Alright so that's the morning set up. Alright let's take a look at the late morning set up the bearish set up. Come back to hero. So you can see the although it's choppy the shift in hero traders taking positive delta positions take the foot off the gas and then finally start taking negative delta positions. Separate outputs and calls again. And again as I mentioned before call buyers stop took their foot off the gas and then the put buyers stepped in started buying puts shown by the falling blue line and price followed lower. Sorry about that. Nothing I did there. Let's go back to book map. And you can see in the sub chart the shift in CVD right around 11 o'clock actually CVD starts to move lower a few minutes before that's shown by the falling dark blue line that shifts to pink when CVD turns negative. Price breaks the subtrend good entry point at the 4250 level is ES moves lower. Alright let's take a look at NASDAQ very similar pattern although the pullbacks were deeper below VWAP. Let's see what options traders were doing and note these little quick links here. This is a new feature very handy. So now I'm looking at a combined signal of NDX and QQQ although QQQ typically makes up the bulk of the notional value there. Let's take a closer look separate outputs and calls. I'm going to zoom in a bit here so we can just focus on the morning. So the morning traders were buying calls and buying puts zoom in just a little bit more so we can see the notional value. So the notional value for calls up until about 11 o'clock is positive 6 million and the notional value for puts 353 million. So the put buyers were definitely more aggressive than the call buyers and this was sort of what was going on yesterday. Let's take a look at one other chart. This is new this is a combined signal called the Magnificent 7 Mag7 and that would be Apple, Amazon, Google, Microsoft, Meta, NVIDIA, Tesla. Combined into one signal very very helpful here. So what traders were buying QQQ in NDX puts we'll zoom in on this in the morning up until about 11 o'clock. They were selling puts and buying calls in the sorry about that in the Magnificent 7. So they were taking positive delta positions in the Magnificent 7 stock and potentially buying puts in QQQ NDX to hedge themselves. Let's go back to Nasdaq now. Shift back to the total signal. Zoom in. So really this pointed to some quick trades this morning short set up and then a long set up around 9.50 and then this move lower. So looking at the total signal short long short. Let's go take a look at book map and NQ and we'll focus on the larger trades. So here's the long set up in the morning pull back pull backs to a trend line a little bit deeper than we VWAP and then finally break of this trend. Nasdaq break makes lower lows and then aggressive sellers come in. So good entry point right around the 359 level as traders started taking negative delta positions. All right so long set up first thing in the morning and then short set up right around 11 11 30. All right Alexandra says 14909 20 has quite some volume and NQ. So let's take a look. All right so that's out of the range of the chart today. You know the range of the chart is 14700 to 875. We can just see. All right so that's Nasdaq set ups. Let's take a look at some stocks now and I want to take a look at stocks that are reporting earnings today. First of all Google. We'll see how traders are positioning. So pretty neutral day here in Google. Note the shift in order flow a lot of buyers early in the morning shown by the green volume dots. And then that shifts to sellers with a bunch of volume dots. We can look at CVD for Google. See the rise in CVD in the morning. Kymla to volume delta flattens out then shifts lower. Let's see what options traders are doing. How they're positioning ahead of earnings. Go to Google. So far today taking positive delta positions. See what they're doing. So they're buying calls today. They're also buying puts. Call buyers more aggressive today. That's shown by the rising orange line. Also the positive notion of value and the blue line showing. Negative notion of value show their buying puts. So really no for me no clear setup in Google today just. If anybody's interested in setting up an earnings trade this may help to see how options traders are positioning themselves. All right the next is Microsoft. Let's go back to Google. Google. No Google the 140 level is the call wall and key gamma strike so potential ceiling for price for Google. Let's take a look at Microsoft now. Looks like traders in the afternoon are taking positive delta positions. Let's see what they're doing. So far today they are buying calls and selling puts. Notional value for both lines positive. Let's go take a look at book map. And another looks like another pretty choppy day for Microsoft as well. Let's go to book map choppy day pretty similar to the. Indices kind of a choppy uptrend in the morning break of that trend line move lower and now moving back higher. Looks like in the afternoon one pullback to VWAP is a good short entry and also break of VWAP here for the first short. Let's go back to hero so showing how again traders are options traders are positioning before earnings. One other stock I wanted to take a look at is Tesla up and down another choppy day in Tesla. Very strong correlation between options trades market maker hedging activity. Note the timely flow alert in the morning traders taking positive delta positions. They shift to negative delta and Tesla moves lower. Let's go take a look at book map. Actually let's see what traders are doing in Tesla. So in the morning it was call buyers driving price higher. Traders buy calls market maker sell the calls. And they have to buy stock to hedge their delta exposure when when traders are buying calls. So that's shown by the rising orange line there. Not doing much with puts they were selling puts. And then just after 10 a.m. they started stopped selling puts started buying puts. Also they stopped buying calls and price move lower. Note both the orange line and the blue line moving in the same direction in this range right here. Let's go take a look at book map. Go to Tesla. All right Tesla there's the move higher in the morning. Then traders reverse start taking negative delta positions. And price breaks the trend line around 220. Good entry point for short. Let's go back to take a look at hero. Or you can see this clear shift in hedging flow with hero. Very sharp fee reversal. And the only spot gamma level in play in here in this range is the 217 50 hedge wall. All right so those are the stocks that I wanted to take a look at. Does anyone have any stocks they want me to take a look at let me know. Please let me know now's the time to do it. Otherwise let's go back and check. Check on the SB 500. Zoom in on this. So it looks like a little bit of a divergent setting up here. Traders started taking negative delta positions. Maybe starting to take positive delta positions again. So price staying pretty flat. Let's take a look at some additional detail here. So first of all let's see what this next expiry looks like. These are traders that are trading zero DTE options. And for the SB 500 spy SPX ES XSP all have options that expire every day. So the next expiry for the SB 500 is today. So this is showing options trades for today that expire today in the green line. And that's about half the notional value of the total line the purple line showing all all expirations. So again the notional value for the zero DTE making up about half of the notional value of the of all the options trades in those instruments today. All right let's separate outputs and calls again. So the lines are so flat at this point it's really not providing much clarity to do that. Let's do one other thing take a look at a shorter rolling window period. So what this is showing is kind of two surges here. Right around 1230 traders taking positive delta positions. And then again around two o'clock started taking positive delta positions again. Let's just see what volatility for futures are doing right now. So this is VX futures. Let me just zoom in on today. So pretty choppy today. Maybe heading down below VWAP showing the blue line the dotted blue line. Kind of in the middle of the range for today or the yeah about the middle of the range for today. And net down on the day about one and a half percent. This is the VX volatility futures fixed futures. All right let's go to book map. Go back to ES. I may check for questions. Floyd's garage says doji on day right in the middle. I assume that means kind of a well you know the way I'm looking at this. This is a range day. And pretty much what spot gamma was calling for. All right. So Truman asked would you show the absolute gamma strike and call put wall information for NVIDIA. Yeah I can do that. All right so let's go and by the way for stocks the absolute gamma strike is actually called the key gamma strike. So let's go to and go to equity hub. And I'm going to look at. Let's go to NVIDIA. Take a look at the put call impact chart. I'm going to zoom out on this so we can take a look at the levels. All right so there you go. Truman here's NVIDIA. Key gamma strike at 430. This chart is showing call gamma with the orange bars and put gamma with the blue bars and no for stocks. Spot gamma makes a different assumption than the SMB 500 and NASDAQ for stocks. Spot gamma assumes that traders are long calls and or long puts. Market makers on the opposite side so their short calls and short puts. So here's the key gamma strike at 430. Call wall at 450. Again key gamma strike 430. Call wall. 450 and put wall at 400. Put wall that's the strike with largest net. Negative gamma you can see that has the largest blue bar there. All right so those levels for today for NVIDIA and they could potentially change tomorrow. NVIDIA is a pretty volatile stock so those levels tend to change quite a bit. Let's go back to book map. We were looking at the SMB 500 so it looks like the SMB 500 is trying to make its way higher. As traders are taking positive delta positions again that started right around 2 p.m. Let's see what NASDAQ is doing. Also traders starting to take positive delta positions that also began around 2 p.m. Shown by the rising purple line. Let's go to book map. You can look at NASDAQ. It looks like NASDAQ found resistance at VWAP for a while. Now trying to move higher as aggressive buyers are coming in. Trying to move above QQQ 358 and Q800 VWAP and also point of control. Point of control is shown by the purple line there. All right so Alexandra here's what I see in book map in this session volume profile. This is the session for today and I have backfill data that goes to the open yesterday afternoon at 6 p.m. eastern time. So this session volume profile is showing all the volume from that time and the point of control is at 814,800. And you can see where the volume is concentrated in this session volume profile for maybe 760 to 820 something like that. All right so so far NASDAQ breaking above those levels. Let's take a look at the SMB 500. Also breaking above VWAP and the 423 level as well as point of control which is much more concentrated. And again this is for the entire session beginning yesterday afternoon at 6 p.m. right here. Oops can't go off the screen with that. Point of control right at 423. All right any final questions? Let's just take a look at HERO back to the SMB 500. So right at 2 p.m. HERO provided a good signal for a long entry. It took a while to play out. So here's 2 p.m. ES started making a series of higher highs broke out of this range. Now some by-stop orders are helping to fuel the move higher as well as options traders taking positive delta positions. All right Alexandra wants to take a look at gamma levels for Microsoft and then we'll call it a day. Let's go to Microsoft. All right there you go for Microsoft. Call wall 360 key gamma strike 330. Put wall 310. All right I'm going to call it a day. Call it a day wrap up remember tomorrow at 10 a.m. new home sales afternoon this afternoon Microsoft and Google report earnings after the market closes tomorrow 10 a.m. new home sales and then after the market closes. Jerome Powell speaks and meta reports earnings. So everyone have a great rest of your day. Thanks for watching. Thank you very much for your questions and comments and I will see you tomorrow. Thanks again. Bye.