 Thank you, JC waiting on YouTube. Okay. Here we go Hello, everyone. Welcome to options with Doug Streaming live daily on book map discord and the book map YouTube channel at 1 30 p.m. Eastern time Before I get started I need to go through the disclosures general disclosure all book map 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 The focus of my presentation is Options order flow the impact of options markets on stocks and futures and the influence of market maker hedging flow on price action And I have a two-step process for trading I First the the first step is planning and I use positional analysis And I look at how traders and market makers are positioned in the options market To develop a thesis for the day regarding the expected trading range and volatility Excuse me volatility as well as a directional bias and The second step in my process is execution And I look at real-time order flow in book map and real-time market maker hedging flow in Spot gamma hero to confirm my thesis and for setups for entries and exits and On-topic questions and comments are welcome and I will be watching the chat and options stash dog and Discord as well as the YouTube chat for questions and comments and again These are the focus these are the topics that I'm going to be talking about options order flow and the influence of Options markets on stocks and futures All right, let's get started and it's certainly been an interesting interesting week So first of all today, I want to wrap up coverage talking about the news and events Economic data today, and then I'll touch briefly on events Coming up next week then we'll go through our positional analysis and then finally will I'll talk about some setups so today The employment situation report came out at 8 30 a.m. Eastern Time and This is the data I Guess the you know the main thing is the Non-farm payrolls employment situation report came in higher than forecast and The employment rate came in a little bit higher than forecast as well unemployment rate So that's the data this morning. I'm initially the market had a positive reaction to it and has gradually Turned it lower since then So that's the end of the economic data this week and next week. There's Quite a bit of data coming out primarily the CPI and PPI and then On Friday is the big March monthly expiration. So that is the end of the month and Typically the quarterly expirations are the big important ones All right and given the PPI and CPI data coming out next week I would certainly expect volatility to remain bid up into those events All right, let's take a look at our charts now. We'll start our positional analysis So this is the S&P 500 futures ES futures and before I dig into this chart I'm going to take a look at a Higher time frame. I'm going to start with a oops. That's a wrong chart Here it is. So this is the chart that I want to take a look at this is SPX just showing price and Spot gamma levels. These are the key gamma levels. These levels are provided in a think-script to spot gamma subscribers and a variety of platforms and I'll show these levels and think think or swim and in bookmap and This is showing again just price and levels for SPX and The levels that are in play But I have my pen tool open Okay, here we go So the levels that are in play Earlier today the put wall So that's the SPX put wall at 3900 Here is the key gamma strike or absolute gamma strike at 4,000 and the volatility trigger Also at 4,000 and then the call wall remains up here at 4,200 and you can see clearly that SPX has broken down below the put wall and normally that level can be expected to act as support and The next next level in play is the 3850 level and that is that's an L4 level meaning it is not as significant at the range of significance for these gamma levels is 1 to 4 and One being the highest most important most gamma and five being the lowest But that is the next level that's in play and it looks like SPX is almost there All right, let's take a look at So that is a 20-day One hour chart. Let's take a closer look and this is the Again a think or swim chart showing SPX one day one minute So we can highlight the Levels that are in play for today and again, here's that 3900 level of put wall and we'll see in In book map that you know a good bit of the volume today was concentrated at this level And then finally Around 12 30 12 45 price below broke below that level and is now heading for this 3852 combo L3 level and the 3850 L4 level So those are the next levels in play All right, let's take a look at book map now and this shows the the levels on This chart as well. These are provided to spot gamma subscribers in cloud notes, which are updated automatically and This is showing the key levels for SPX and Spot gamma is using a still using a five-point difference between SPX and ES and I calculated it today is closer to one point So I've marked my levels just a little bit differently. So another thing shown in the Spot gamma cloud notes are these combo levels which combine spy and SPX levels into one level and then they're converted to an equivalent SPX number and then shown on the chart Converted to an equivalent ES number. All right, then I have my own cloud notes and I'm going to Me just scroll up here a bit so we can see what's going on right now. So I have My own cloud notes The C levels and I'm showing first of all spy levels here. So that's the spy 390 put wall key gamma strike and then this It's hard to see this white bar here is actually the 3850 level And I think a more accurate level and then I'm also showing the ES Round number levels the 50s and the zeros So those are the levels that are in play now Let me recenter this so this was the initial reaction to the data this morning bullish then a move lower then a retest of that high and Then I'll finally this is resolving to a move lower a drop below the 3900 level also the The spy 390 level And that that you know, that's important dropping below the spy and SPX put walls And now headed towards the 3850 level Okay, so those are the levels that are in play for today and Let's talk about shifts and levels now So for SPX There were actually no shifts in levels the volatility trigger put wall call wall And key gamma strike all remain at the levels they were yesterday So that is the 4000 level for volatility trigger and key gamma strike 3900 for the put wall and 40 200 for the call wall And I'll talk more when we look at the gamma levels charts I'll I'll talk more about the levels and what they are and what they mean Now on the other hand there are quite a few shifts for s for spy and for qqq So for spy the volatility trigger actually increased from 400 to 402 and The put wall remains the same at 390 And you can see that on the chart and then the key gamma strike drop down from 400 to 390 and the call wall also dropped down from 405 to 397 and Then for qqq the put wall dropped from 290 to 285 and the key gamma strike dropped from 300 to 290 So I I Interpret all of that as as bearish All right, let's Take a look at the gamma charts now So these are the absolute gamma levels and we can see where these levels come from and there's a comment in YouTube sound is low I'm sorry, there's there's no adjustment that I can make on my microphone. It's it's positioned right in front of my face There was a comment about that yesterday most people Thought that the volume is okay, so Sorry about that again, there's nothing that I can do no No change in any setting All right, so these are the absolute gamma levels for spx and What this is showing here's the zero line. So this is called gamma Or positive gamma above shown by the black bars and Below is put gamma or negative gamma shown by the teal bars So Here's spx. There's the 4,000 Key gamma strike and that's also the volatility trigger So the key gamma strike or absolute gamma strike is with a strut is the strike with the largest absolute gamma and that can act as support resistance and and as a magnet Then the put wall is the strike with the largest net negative gamma and that Can be expected to act as support and it normally does and then the Call wall so that's 3,900 for the put wall 4,000 for the key gamma strike also the volatility trigger which is gamma spot gammas proprietary gamma flip level and Indicating that below that level Traders are long puts market makers are short puts that puts them in a negative gamma environment and In a negative gamma environment, they have to sell futures to hedge their delta exposure as price decreases And that tends to increase volatility in a negative gamma environment and that is certainly what's going on today I'll talk more about this And actually I can I can do that right now. So this What's happening and there was a comment in the spot gamma am founder's note this morning about a negative gamma Vanna Feedback loop so what happens and this was happening yesterday as Price was falling and it also looks like it's happening today as price falls see all these puts all this negative gamma below 4,000 all these puts again traders are long puts market makers are short puts and as Price decreases and volatility increases and let's take a look at at the VIX for today and we can see that So VIX is very high today it's higher than it has been I'd have to check this may be the highest it's been all year With this very high VIX all of these puts that are in the money implied volatility increases price drops and all of those puts Become deeper in the money. They're gaining values due to the due to the drop in price and The increase in applied volatility and that means that market makers have to just continue to hedge as price drops They're selling more futures price drops more They're selling more futures to hedge their delta exposure now. There will be an end to that And we can we can take a look at that actually Down here. Here's the the gamma model for SPX and this is showing as the As price approaches, let's say thirty six hundred to thirty seven hundred that market makers need to hedge Starts to decrease their gamma this gamma level gamma levels off and they're Hedging requirements will decrease but but until that time there this negative gamma is Increasing and we'll look at the Vanna charts in a minute, too And there they need to continue to hedge and that's the the negative gamma Vanna feedback loop Again price continues to drop implied volatility increases puts are gaining in value and Market makers have to continue to hedge so they're selling futures and that just contributes to the To the move lower Right, so I hope that answered That question about the negative gamma Vanna feedback loop, so let's get back to the SPX vanilla the absolute gamma level so again, you know the thing to note is all of this Put gamma negative gamma below the four thousand level. Let's take a look at spy So for spy Again remember the key gamma strike dropped from 400 to 390 so this is the key gamma strike and That's also the put wall the strike with the largest net Net negative gamma Can be expected to act as support? Although it's not today and then 397 There it is 397 is the call wall. That's the strike with the largest net positive gamma and that can be expected to act as Act as resistance So JC was my Explanation of the negative Gamma Vanna feedback loop did that answer the question? alright, so anyway, those are the spy levels and again note the the dominance of a put gamma below the 400 level and we'll see that when we look at the gamma notional and also the Vanna charts All right, let's take a look at the combo levels and this is the combination of SPX and spy levels and This is the again for SPX and we'll see here the This is all put gamma below the four thousand level and that's the volatility trigger The gamma flip level and we can see it clearly here and there's a huge dominance of Put gamma here so that is that's in terms of SPX price Take a look at it in terms of spy and There there's that's the 400 level 399 So the volatility trigger for spy is at 402 Okay, those are the gamma levels. Let's take a look at the Nasdaq now and this is QQQ. This is what we look at for Nasdaq and for QQQ the Key gamma strike is now at 290 Strike with the largest absolute gamma and then the put wall and that had dropped down from 300 yesterday and Then the put wall is at 285 strike with the largest net negative gamma and Then the call wall remains at at 310 here and again note the dominance of Put gamma below 300 All right, let's take a look at data now And I like to focus on This gamma notional This is market makers position on the gamma curve and this left column is showing SPX The middle column is spy and the far right column is QQQ and these numbers are quite negative I don't know if last year in the bear market. I don't know if I saw numbers this negative I'd have to go back and scan through my My trading journal So again, this is market makers of position on the gamma curve in a negative gamma environment This means that traders are long puts market makers are short puts and They have to hedge with price To hedge their delta exposure So this means this price is falling that you'll get that negative Vana gamma feedback loop comes into play and Market makers have to sell futures and this can also work the The other way around if price is increasing especially with such large numbers here if price increases implied volatility drops Market makers can buy back their short futures and that We've talked about that before a put Vana rally and that could potentially happen next week if these CPI PPI numbers are not as bad as expected You know today that traders with with VIX at the last time we looked at 28 are paying Crazy high prices for protection and If That doesn't pay off You know if there's any in drop and implied volatility those puts will start to lose value market makers Well, but traders most likely will get out of their puts They'll monetize their puts or and market makers delta exposure will decrease And they can buy back their short futures and that's again what we've talked about before a put Vana rally And that's always a potential especially with negative gamma this this high and Alex and YouTube asked how current is this data updated and It's updated in the morning note in the PM note and I compare these values from morning to morning So most of the data that we're looking at in our positional analysis is static data and spot gamma does provide Real-time data with hero, but this is static data a lot of it is based on Open interest which is updated once daily sometime during the night So this is static data that's updated most of it once a day So this these numbers did become more negative from yesterday so yesterday SPX Gamma notional was minus 429 today. It's minus 932 and Yesterday spy gamma notional was minus 2026 and today it's minus 2809 they get extremely negative and Then for QQQ Gamma notional yesterday was minus 506 and today it's minus 752 Alright, let's take a look at the Vana charts now and this will show a graphical illustration of what I was just talking about and this Chart shows Market makers delta notional on the vertical axis and Price strike price on the horizontal axis and it shows how their delta notional changes with changes in price and Implied volatility and that's shown by the green curve for the current expiration And that green curve is showing the Vana effect the change in delta notional with a change in implied volatility and This is clearly showing that as price decreases Market makers delta notional delta exposure increases and they want to remain delta neutral so they have to sell futures to hedge their delta exposure and again that works the other way around if Price increases they can buy back their short futures and that can spark a put Vana rally But we're seeing the so far today the negative Gamma Vana feedback loop rather than a put Vana put Vana rally All right And then this black line is the next expiration and that shows how market makers delta exposure Changes as time passes and that's the charm effect the change in Delta as time passes So that's SPX Here spy the lines even steeper again remember the Gamma notional for For spy is about three times the size of SPX and There's a QQQ so all quite negative today and in this type of environment negative gamma environment you can typically expect higher volatility and Up until the last up until yesterday really the zero DTE options traders and SPX and spy have tended to Sell highs and buy lows and that has suppressed volatility and that worked a little bit this morning a little bit yesterday morning But the last time I checked looked at hero. That was not the case Okay, the last thing that I want to take a look at Before we take a look at some setups This is my key gamma strike list And I keep track of the key gamma strike. That's one of the five spot gamma key daily levels And I just use this as a quick reference So this is in the e column the far right column showing the key gamma strike from yesterday and Then the D column current key gamma strike is showing the key gamma strike from today and I Note the changes With it just a simple red or green so red indicates that the price Decreased from the previous day so here you can see for Nvidia The price decreased from 240 yesterday to 230 today, and I think the most notable is the oops the drop lower and the key gamma strike for both QQQ and spy and then also the Quite quite a large increase for VIX there Showing an interest in calls at much higher levels So for the indices again, I interpret this as bearish, but it's also notable That for most of the stocks Other than Nvidia, there was no change in the key gamma strike So I interpret that for most of these stocks as Neutral of bullish given the large drop yesterday, especially in the indices that there were Nvidia was the only one that had a drop in the key gamma strike and it's it's pretty volatile that key gamma strike changes Almost daily for Nvidia changes quite frequently All right, so that is That's my planning planning process for the day and What has paid off really in the last last few days is just to get a feel for an understanding of how market makers are positioned and and then you know watching the real-time order flow and real-time Real-time order flow real-time hedging flow and also having the levels in place All right, so let's take a look now at at hero and This is the SPX plus spy that I'm looking at right here and we'll start with this and This is showing the options trades for SPX and spy in One combined signal and I use this whether I'm trading ES futures spy or SPX And whatever I'm trading options futures shares All right, let's let's actually take a look at book map first again and get a Framework of what what's going on here. So it looks like this 3850 level Maybe acting as support We can see the shift in order flow here a lot of green dots market buy orders coming in I'm gonna zoom in on this level and let's Scroll up just a little bit All right interesting to note and this is pretty typical behavior of larger trades traders or these iceberg orders these are CME order types icebergs that large traders used to hide their size and These are pretty large. So this is indicating for example down there at 3850 5,212 contracts traded iceberg orders in Four separate transactions and you can see that also by this rising light blue line here. It's actually been been increasing and This is again larger traders. They use iceberg orders to hide their size and They trade differently from retail traders. They can You know, they don't typically use a tight stop-loss and They can withstand some pain and they will often Sell strength and buy weakness All right, so that's what's going on now. So let's go back and take a look at at Hero now and this will show what options traders are doing And this seems this is kind of odd right here this this large bar So I'm going to just scroll a little bit to the left so that's out of the picture and What this is showing and we'll look at these zero DTE options as well, which also provides a clear picture and This is showing Options traders here. We're taking negative Delta positions Positive Delta Negative Delta and notice when they're doing that So here at this higher level here right at the open they start selling futures or selling Or taking negative Delta positions Price moves lower and as price reaches a lower level They start taking positive Delta positions and that is price moves up and this is more of a Divergent setup here right around 10 a.m Traders as price moves up they start taking negative Delta positions and Price moves lower. So this is the Divergent setup. There was a good conversation in The good discussion and discord this morning About this and one thing that I mentioned it's important to note the difference in the way that traders are trading the S&P 500 versus single stocks for example, and this is pretty typical behavior of Contrarian traders Selling highs and buying lows and this is something that I really like about trading the S&P 500 It's been very prevalent this week Traders will With the options market they will again sell highs take negative Delta positions And as price moves lower they will start to take positive Delta positions and then price responds sometime later So a Divergent setups up and down Now this is the showing all expirations with this purple line So for those of you who might not be familiar with us White is the price action. This is for it's shown in terms of SPX here You can tell from the the price axis the vertical axis This is hero the hedging impact of real-time options again showing options trades for SPX and spy all expirations calls inputs and Hero allows us to Look at this in a little bit closer detail so we can take a look At what the zero DT options traders are doing Let me zoom on Kind of get back to the same time frame. We were looking at and this shows the divergence is a Little bit more clearly So these are traders that are trading options that expire today And I like to look at this as well as the total signal. So again, this is still SPX plus spy but showing options trades that Expire today and these traders zero DT options traders have been driving price higher and lower and I've shown a number of examples of this this week and this is a very good signal if you're You know if you're trading the S&P 500 Notice that traders start taking Positive Delta positions and about 10 minutes later price responds and here they start as price moves up They start taking negative Delta positions and then price responds and then the same and That's the divergent setup that is quite Quite prevalent in the S&P 500. Let's zoom all the way out this I don't know what this bar is this could be This could be bad data Actually, that's there's something odd going on with this chart. It looks like there's a Looks like a gap in price. I Think that may be let me refresh this page Good get my watch list here. All right. That's better there. I needed to refresh that page so let's go back now and You can see the kind of the contrarian behavior this morning and then around 1130 And this seems like it was just like this yesterday Then they the buyers didn't really come in that Until of the 3850 level. We'll see what the zero DTE options traders were doing. All right, so here's the kind of the morning session with the up and down and Then around 1130 or 12 wrong tool And price smart starts to move lower until a another key level there the 3850 so RJ ask could you explain the 3850 level and that's a big that's a spot SPX. I'm sorry SPX 3850 and you can expect those big round numbers and SPX To be key gamma levels and let's just go We'll take a quick look at the gamma charts again. Go back up to SPX and There's 3850 so notice the the gamma concentrated at the zeros in the fifties RJ ask is the current market behavior an example of the Vanna feedback loop You're speaking of so the Vanna feedback loop is the drop in price And let's go back. Let's take a look at book map now so yes There's your negative gamma Vanna feedback loop price drops and we can take a look so this is at oh 1130 am interesting. That's I think that may be the European close as well And you can see in book map the clear shift in order flow Green dots market buy orders then the shift to Sellers market sell orders aggressive sellers move price down or read check of the 3900 390 level and then a move down to the 3850 level and notice because the Right now the options rollover is next week So we're so close to rollover that the SPX price is very close just about one point different than the ES level and That will widen out at the rollover alright, so there's the Again the negative gamma Vanna feedback loop And let's take a look and see what VIX was doing at that time And this is just a proxy for implied volatility. So here at let me just zoom in on Today so you can see right at 1130 here that VIX starts to increase starts making Higher lows At the same time so price dropping implied volatility increases those puts Gaining in value All right, so that's the S&P 500. Let's let's move on and take a look at some stocks Let's just go back to all explorations So again, this is one reason I'd really like to trade the S&P 500 looking for these divergences especially in the morning All right, let's take a look at some stocks and The first one let's take a look at Tesla and this is going to illustrate the I think the difference between the S&P 500 and Single stock and Tesla is the stock that I look at most often for a very strong correlation between options trades hedging flow and price action and This is kind of unusual this morning, but it made for a great long setup And notice here the prices falling But hero remains Neutral to slightly bullish So traders are taking positive delta positions and let's see what they're doing We can take a look puts and calls. So there are they're selling puts and buying calls And then let's take a look at bookmap now Let's go back. Let's go to Tesla now and this was Let's just zoom in So we can see this Just a very clear signal. So remember price was dropping But options traders started Selling puts and buying calls price drops down To this 170 put wall the level that you expect to act as support price drops down just below which is pretty typical of Very volatile stock like Tesla, but then reverses higher these Note the shift in order flow and this is shown by the cumulative volume Delta shift from bearish to bullish You can see that clearly in the order flow here all the All the pink dots market sell orders this buy sweep comes in these very small green dots as Well as the aggressive buyers with the green Larger green dots there. Those are those are buy minus sell So more buyers than sellers there taking price up at the reversal from the 170 put wall A level again that you expect that to act as support. So you have the hero divergence confirmation a change in order flow a Reversal added a level that you expect to act as support and then a move up to liquidity targets above the first as the 175 level and then the next target up would be the 177 hedge wall and then finally if If price continues up and we'll zoom out in just a second. I don't think it did So anyway, that's that I thought that was the easiest to read setup of the day So these are this is what I prefer to trade the S&P 500 because of the divergent setups and all the levels That are in play that that somewhat I think provide a roadmap for the day and then the then Tesla the clear typical confirmation between Hedging flow and order flow and price action So now on a if the market was more bullish today, I would certainly expect that 180 Key gamma strike to be in In play today, but it looks like it, you know, but it probably won't get there today But anyway, great great bullish setup this morning up to the 175 and Finally up to the 178th level and the thing that's great about stocks is all these liquidity levels. This is Above the price here. These are passive Sell orders. These are Limit sell orders in the order book and and these often act as a price target. All right, there's another another question in In YouTube getting the sound louder. I I'm sorry. I don't know what to do. I'll I'll check later, but there's no as far as I know. There's no adjustment. I have the microphone right in front of my mouth I don't I don't know of any way to change the gain in my Microphone I haven't had any Complaints and discord so, you know, anybody watching in YouTube. I urge you to Try our discord channel bookmap discord is free and open to all whether you have a Bookmap subscription or not and we have a great discussion in In the options dash dog chat channel and there are also many other channels for Future stocks six different languages crypto So, you know, if you if you're not Not in discord. I highly recommend it for the for the great content Okay, so I'm getting a lot of confirmation that the the sound is okay. So it could be Could be your sound settings the folks that are having problems with volume. All right, let's take a quick look at some other stocks And I did most of I did most of my prep here before in the morning and So I was looking at some long setups here, this is AMD and know the difference in order flow between In what was shown in both the S&P 500 this, you know, the pretty clear shift between Green dots on the way up pink dots on the way down as well as the the clear difference in In Tesla and that's not Not really apparent in AMD and I that makes for the for me that makes Taking along in AMD a little bit more difficult. Although. Let's take a look at hero now Let's go back Go back to the total signal And we'll take a look at AMD and this is what I saw in the morning. So here is a Divergence long Notice that hero starts rising and then price responds Dips down give you a goody Giving you a good pullback entry here right around 1050 and continues higher as hero continues Higher without any dip really so around 1050 Was a good pullback setting set up. So in this case, this is showing that how How hedging flow tends to drive AMD So let's go back and take a look at book map again And there's that initial setup around 1030 and then the here is the 1050 pullback signal With a nice price target up here at the 85 key gamma strike And note the liquidity at that level that has been in the order book since the RTH open And this is pretty good range for AMD today that you could have gotten over over two points on that All right, the next one And let's just we'll move through quickly I saw a divergence long. Let's take a look at hero. Let's go to Amazon and I Saw this as a as a divergence long. There was a slight dip in hero Starts to move higher, but overall making higher highs price moves down More shallow dip in hero and then price moves up. Let's go look at book map. So there's Amazon The shift in order flow is somewhat apparent there Definitely a sweep into This 91 level Sellers absorb buyers absorb the sellers price moves higher And since then prices reserve reverse back down to that level Let's go back and take a look at book map and there's the So it's kind of hard to read the total picture here You can if you zoom it a little bit you can see that as hero moves lower There's a very strong correlation between options trades hedging po hedging flow and price action All right, the next one Microsoft confirmation long starting Oh just before 10 a.m Then a pullback around 10 30 then a move higher Let's go take a look at Book map Microsoft. So there is the the long set up Pullbacks deep pullbacks one or two points and price move through the 250 put walkie gamma strike And now has a reverse lower with everything else And let's take a look at Nvidia. Let's go take a look at hero Here's Nvidia Nvidia has typically a pretty strong correlation between hedging flow and price action and strong Correlation with his down move hero levels off then options traders come in and there's the The real long set up this pullback down around 10 20 and then Options traders start taking negative delta positions price moves lower. Let's go take a look at Book map again So there's the move higher the pullbacks and notice Nvidia is pretty volatile. So it makes pretty deep pullbacks. Here's a three-point pullback for example One and a half almost two points price target for the long At the 235 hedge wall And let's take a look at QQQ and Pretty strong correlation between hedging flow and price action with QQQ long set up in the morning and Hero levels off finally drops and price follows Now it looks like options traders are coming in now and starting to take positive delta positions as QQQ is Down, let's see where QQQ is take a look at book map Down around 289 288 note the shift in order flow a Lot of aggressive buyers coming in you can see that with the All the green dots all right, let me check for questions and And Mike says I even changed the color of my dots to match yours and love it. I I try Very hard to make my charts as clear and as visible as possible not only for presentations, but for my own use and I I changed the The default color of these Pink dots the market cell orders to this Kind of bright pink which I think stands out a lot easier than the kind of the default orange Red brownish color that that seemed to kind of get lost with the with the heat map So this pink really stands out rather than the color before which was something like this color and that that did not That kind of blended in with the heat map So I changed that I think that kept the green probably the same or pretty close, but I like these bright colors and I really like Having my charts is easy to read as possible. Okay, let me check for questions and In discord and then we'll wrap it up So yeah, Jay, she says two points in AMD is a great day. Yeah, recently AMD a lower-priced stock two points is a good move and Truman notes AMD seems to reverse down around 12 o'clock I think that's been pretty typical of many stocks and RJ asked a spot gamma standard to have the hero indicator data It does not So I think spot gamma provides three levels subscription levels standard pro and and alpha and You go check the spot gamma website to be sure the standard is everything except the Equity equity hub and then alpha includes equity hub and hero And I use both of those tools extensively. So again check on the spot gamma website and they do offer a Seven-day trial Okay, thank you JC so that he posted that from From the spot gamma website describing the differences and the three subscription levels So if you want hero, you need alpha Okay, so this question on the setting on my liquidity colors So I I don't know if you mean the volume dots that I was just talking about So you can just right-click on a dot here background so he's Background, let's see. I'm just using the default for If you mean the heat map I'm just using the the defaults. I don't think you can change that like the volume dots so I just have I Just have the Standard settings default settings for most the heat map now. I have changed the cutoff settings cutoff percentage So I hope that answers your question. I'm just using this There are three settings for the Colors and I'm using the one on the bottom the one that has the most colors So Alex, I hope that answers your question And all I've done to adjust the the heat map is change these sliders to suit my my preference and for most everything I have tamed this down to To get rid of the noise and clutter and for some stocks, especially for QQQ and spy there's just a cloud of Liquidity Shown on the charts if you don't tone that down just to show the most important the highest liquidity So the same for spy Right. No, you're welcome. Have a great weekend as well And RT RT asked a spot gamma provide thinkorswim script for all stocks Or do they have just spx so I think They have one think script that Let's take a look here one think script for spx ndx RUT spy QQQ and and IWM Let's just take a look. So here's the script There it is for spy. I don't know if you can read that or not. That's that's light gray, but that's spy QQQ ndx Q So basically just the indices All right, so it looks like that 3850 level around there so far as active as support All right. That is all I had. I think I've answered all your questions. I Want to thank everyone for watching today. Thanks for your questions and comments and I will see you next week. Have a great weekend everyone. Thanks again. Bye