 Hello everyone welcome to options with Doug Streaming live daily on bookmap discord and the bookmap YouTube channel at 1 30 p.m. Eastern time Before I get started. I need to go through the disclosures General disclosure all book map them and the minute 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 Involve substantial risk of loss. It is not suitable for all investors pass performance is not necessarily a decade of future results And I do need to pause to announce the March Madness Crypto competition with over two thousand dollars in prizes Overall for up for grabs to participate Users much or must register for both the competition and the bookmap Academy and can also win prizes of $200 by sharing top-tier content So there you go. There is the crypto March Madness competition put on book by bookmap Academy. You can scan this code. Also. I did post the link Yesterday in discord for this competition Here's my contact information the best way to get in touch with me as through discord My name on discord is Doug P. Also in bookmap discord. There's an option stash Doug chat channel That's a great place to post questions comments and content Related to the topics of the channel, which I'll go through in just a moment and the topics of my presentation I'm also on X for me known as Twitter. My name there is at Doug plus Here are the key tenets to my approach for trading. This is the basis of my approach for trading I believe that options trades and market maker hedging activity are key drivers of price and many stocks and futures and Certainly in the futures the equity Index futures that I follow the SB 500 and NASDAQ and also the large cap tech stocks that I follow and trade as well And for the SB 500 SB X is the underlying index Spy is the ETF version of that index and ES the futures That's a derivative of SB X and when traders buy and sell Puts and calls in SB X and spy 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 QQ Q is the ETF version of that index and NQ is a derivative of Ndx and when traders buy and sell puts and calls in Ndx and QQ Q Market makers take the opposite side of those trades and they hedge their delta exposure with NQ futures The focus of my presentation today and the focus of the options dash jug 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 at the options market and how those positions Changed from day to day to develop a thesis Regarding 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 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 will be focusing on an underlying asset For example for the SB 500 when I talk about setups those setups can be taken any number of ways With the ES futures spy shares spy options spx options or even ES options. Those are all Ways to take trades that I will talk about Utilizing the setups in the SB 500 Questions and comments are welcome and I will be watching both the options stash jug chat channel and Discord as well as the chat and YouTube for your questions and comments Please feel free to post and I'll do my best to answer your questions and Hello, Suzette. Welcome. Glad you're here. Hello Steven. Welcome. Glad you're here as well And thank you for posting the link to the Crypto competition as well as the book map Academy All right, thank you Steven. All right, here's my agenda for today Wednesday March 27th I'm gonna go over news items. There was nothing today. So I'll go over news news items Economic data and events coming up for the rest of the week then I'll go through my positional analysis from earlier today Then I'll review 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 All right, let's start with news There were a couple of bond auctions today. We'll take a look at the market and see if there was any impact From that Otherwise no no economic data. No certainly no high impact events tomorrow Durable goods that data release is at 8 30 a.m. Eastern time durable goods and at 10 10 a.m Consumer confidence. Oh, that is I'm sorry. That was That was yesterday. So for tomorrow GDP is out at 8 30 a.m. Eastern time and then 10 a.m Michigan consumer sentiment All right, so sorry about that. Sorry about that mix up. So again tomorrow 8 30 a.m. Eastern time GDP 10 a.m Michigan consumer sentiment and on Friday PCE data is released at 8 30 a.m. Eastern time That's normally a market mover. We're gonna have to wait until Monday Friday is the Good Friday market holiday and that is my understanding is I know that's a stock market holiday My understanding is the CME is closed as well So that is a holiday for the stock and futures markets So there will be no markets open and then on Friday also Jerome Powell speaks at 11 30 a.m. Eastern time So again, we'll have to wait to Monday to see the reactions to the PC e data and then Jerome Powell speech at 11 30 And note there will be no book map streams on Friday, of course All right, so that's economic data. Now. Let's move on to positional analysis I'm gonna start with the SB 500 So this is the ES futures in book map And before I take a closer look of this chart I do want to step back take a look at a larger time frame And I'm gonna go to the SB X the underlying index. Sorry wrong chart I'm gonna start with a one-day chart. This is think or swim showing the SP X. This is a one-day chart again The current rally began last year October 30th SP X has rallied up about 1150 points 11 1150 points from low to high All right, let's take a look at the top of that rally I'm gonna go to the One-hour chart So this is a 30-day one-hour chart. Sorry, this is a little bit scrunched up But I want to show all these levels. That's the that's really the focus of this chart So here's the top of that green trend line Load a high high 52 61 Right, let me point out 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 also based on the closing price for SP X Last Friday those low those levels remain in place for the entire week and I update those Update those once a week and then the dash blue lines Are showing the lower and upper daily expected move also based on the options market I update those levels every day. So that's based on the closing price yesterday So those levels change every day and know that SP X heads traded up toward I believe it actually traded above the upper daily expected move earlier today We'll take a look at that one minute chart in just a minute But now SP X is trading within both of those ranges Are the other lines on this chart are spot gamma levels? These are proprietary spot gamma levels. They're provided to spot gamma subscribers They're available on a variety of trading platforms. This is thinkorswim and I'm going to point out the key daily levels First of all, here's the put wall At 4,600 that's a strike where the largest net negative gamma that can be expected to access support Not really a very convincing Strike down at 4,600, but it is what it is It's the it's based on the mathematical definition of put wall the again the largest net negative gamma All right, the next level up Is five thousand That's the absolute gamma strike. That's a strike where the largest absolute positive and negative gamma So that's where most of the gamma weighted open interest is concentrated Above that is the volatility trigger at 5,095 that a spot gamma's 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 add to their delta exposure. It tends to enhance or increase volatility Above that level like SP X is trading now market makers position on the gamma curve is positive in a positive Gamma environment market makers have to trade against price to edge their delta exposure that tends to subdue or decrease volatility And then finally the call wall Is up at 5,400 That's a strike where the largest net positive gamma that can be expected to act as resistance Also, not necessarily a very convincing strike But again, it fits the definition of the call wall again the net net positive gamma So according to this the potential Ceiling for price is at 5,400 and the potential floor at 4,600 So quite a wide range especially given the very quiet price action For the last week for the s spx All right, let's wrap up our and there were no changes to the key daily levels for spx so all levels remain in place and that leads me to a Neutral thesis as far as directional bias All right, let's wrap up our view of sbx with a one-minute chart And this is let me zoom out just a little bit oops So I'm gonna start with yesterday, so I'm showing two days worth of data in the dark shaded area So very quiet price action yesterday slight slight bearish trend down and then notice the large drop right in the last half hour and There was a note in the spot gamma am founder's note that Indicated that Goldman Sachs was attributing that large drop to pension rebalancing All right, so spot gamma subscribers you can take a closer look at that All right, so that was the large drop yesterday Then spx gapped up today up around the Up around the highs for yesterday Gapped up above the upper Daily expected move and Then move sharply lower and now chopping around in a very tight range again All right, so the there are no Spot gamma levels in play for spx today And that in that range and there are levels of below and above All right, so this is the ES futures and book map I have my own cloud notes So I can show SPX levels Here's this 52 30 level up above that was noted as resistance in the spot gamma am founder's note And it did briefly act as resistance So again noted as resistance in the spot gamma am founder's note those levels I put on my chart and my own cloud notes, but they're typically not on the Thinkorswim charts So that is the According to this the only spx level and play for today note There's a difference of price between ES and spx That offset changes a little bit every day and Today it is right around 57 So ES minus spx equals 57 Maybe a little bit higher today All right, so I'm showing spx 52 30 at ES 52 87 just below that is the spy 521 level. That's a large gamma 2 level Here's the spy 520 absolute gamma strike really acting as somewhat of a pin today No price has been oscillating up and down around that level Here's the point of control for the session today shown by the dark purple line Just below that level and you can also see in the session volume profile that most of the Volume is concentrated up and down around that level. All right, so another after the Quick move lower down to the 520 level this morning ESpx ES trading at a very narrow range several between spy 520 and 521 And note I do post the index relationships that I'm using in discord every day I post the preliminary numbers right around 9 a.m. And then once the spx and Ndx start trading I post the final numbers Somewhere around 10 a.m. All right, so that's spx We'll talk about setups in a few minutes also of note here is This high liquidity band right around up and down around 52 70 That's the heat map and book map showing a history the limit orders in the order book So below price those are limit buy orders and definitely acting as support today So price target for the move lower note those levels that Liquidity comes in progressively Starting just before 10 30 Traders keep adding And it looks like some of those buy orders limit buy orders were filled Probably around noon So now S&P 500 ES Trying to move higher the finding resistance at VWAP That's that light blue line All right, we'll talk about setups in a few minutes. So shifts and levels again. No level no shifts for SPX there is only one for Spy the call wall did shift lower From 525 yesterday to 522 So according to this SPX the S&P 500 still has room to run higher The spy call wall is up at 522 and of course again the SPX call wall up all the way at 5400 All right, so my thesis directional bias for today was Neutral for the S&P 500 also looking for a pretty narrow trading range Gamma notional for SPX Still positive still and negative for spy a little bit more negative in yesterday both those numbers did move lower So looking for a little bit bigger range larger range than yesterday, but still fairly Fairly narrow the expected move at the close yesterday for SPX was plus or minus Around 23 and a half points So that's pretty small A little bit larger than yesterday, but also pretty small. All right, let's take a look at Nasdaq Different story here for Nasdaq Still having an issue with volume dots All right, so this is the NQ futures and book ma'am and let's take a look at the underlying index charts First QQQ Let me zoom in on this Dark shaded portion regular trading hours So note that 446 That's the zero gamma level price Pretty quickly this morning moved up Opened up above that level moved down Found resistance at the 445 level. That's a large gamma-2 level One being the most important five being the least important and Then finally found support after a quick move lower At the 442 level that is not a spot gamma level, but that's just a QQQ round number level and now QQQ is oscillating up and down Around 443 again, not a spot gamma level. That is just a Round number level and note that QQQ is trading below its volatility trigger All right shifts and levels for QQQ Barrage hat trick volatility trigger call wall and absolute gamma strike all move lower The put wall did move higher, but the other three levels did move lower. So a bearish Bearish hat trick for QQQ. There were no shifts In levels for Ndx. Let's take a look at that and note. There is an Ndx level Very close to the 443 level. Let's take a look at that. So again Ndx just like Yes, SPX quick drop lower Attributed to again pension rebalancing Ndx gapped up found resistance at this 283 level That is the combo for level combining Ndx and QQQ gamma-weighted open interest into one combined level and Now oscillating around this 18192 level and that is a combo three level Let's go back to book map Take a look at those levels Right. So this is the cash open 930 Quick drop down before the just right after the cash open then resistance at this cluster of levels 445 283 and the NQ 18,500 so again just like the ES I have my own cloud notes so I can show QQQ levels Ndx levels and then key levels for NQ like these round over levels So quick drop lower here was a great Entry point for a short. I'll talk more about that setups in just a few minutes and then price Quickly drop lower and then has been consolidating ever since then and again note the point of control Summer between the Ndx 192 level and And The QQQ 443 level Alright, there were no shifts and levels for Ndx. So again just a bearish hat trick and QQQ. All right. Let me check for questions Hello Abdul welcome glad you're here All right, Abdul is asking I say I'm looking to understand a few concepts on book map as we used to do on level two and tape All right, if you're looking for basics of book map First of all, I suggest going to the book map Learning Center and thank you Steven for posting that go to the book map learning center. There's great great videos there I would suggest going through all those levels that those Videos at the learning center. They're new. They're fresh. It should answer your questions and also If you have live questions, I suggest you attend Bruce Bruce's webinars His webinars cover the really the more of the basics of book map. They're at 10 a.m Monday Tuesday and Friday. So you'll have to wait until next week for Bruce's webinar I'd suggest you watch. Maybe if you have time over the weekend Take a look at the videos in the learning center and then on Monday Go to Bruce's webinar at 10 a.m. That's on YouTube and on discord All right, Nasdaq so based on the bearish hat trick for QQQ my thesis Directional bias for QQQ was bearish so neutral on the SB 500 and bearish on the Nasdaq and again looking for Mostly narrow trading ranges and again, I'll talk about setups in a few minutes. All right, so gamma notional I mentioned for SB 500 and Nasdaq all shifted lower still positive for SB X and Negative for spy and QQQ. All right, let's move on to some setups now So I'm going to go back to the SB 500 All right, so the first thing that I want to do Take a look at what options traders have been doing today Right, so everything that we've looked at so far other than the book map is based on static data Spot gamma takes open-interest data. That's updated Once a day sometime overnight Smart gamma takes that data applies their algorithms to come up with a spot gamma levels And I'm watching how those levels change from day to day. That's why I'm talking about the shifts and levels I use that to develop a directional bias Now let's move on to execution look at real-time data So again, I'm going to start and take a look at what options traders have been doing today So this is the hero signal. This is available to spot gamma subscribers and This chart is showing options trades and market maker hedging activity in real time for a combined signal for the SB 500 That's SPX spy XSP and ES futures all under one combined signal The purple line is showing the hero signal hedging impact real-time options H.I.R.O The white line is showing price for SPX and a falling Hero signal falling purple line indicates traders are taking negative delta positions They are buying puts and or selling calls Market makers take the opposite side of those trades and those trades again are an SPX spy XSP and ES futures options and Market makers take the opposite side of those trades and they hedge their delta exposure with ES futures and Arising hero signal indicates traders are taking positive delta positions. They're buying calls and or selling puts Market makers take the opposite side of those trades and they buy futures to hedge their delta exposure All right, let's zoom in on this chart All right, so I'm going to focus on this setup Right around 9.50 9.55 So the hero signal Started to move sharply lower at that time We'll see what traders were doing with calls and puts in just a minute and really can send your can Continued to move down until about 1215 So the hero signal as well as price was gradually grinding lower making a series of lower highs All right, so let's go take a look at book map actually before I do that I do want to take a look so we can provide more nuance on this trade. I do want to separate outputs and calls All right, there's an issue with auto zoom. I'm gonna have to jump Jump back To avoid this auto zoom problem. All right, so let's go back to the The setup that I'm talking about the short right around 9.50. All right, so the orange line is showing Calls a rising orange line indicates traders are buying calls When traders buy calls market makers sell the calls. They have to buy They have to buy futures to hedge their delta exposure The blue line is showing puts So from the open traders were buying puts that's shown by the falling blue line they briefly pause and Then the key here is right around 9.50. The call buyers take their foot off the gas and the hero signal levels off Starts moving lower a little bit lower So they're going from buying calls to selling calls and then the blue line starts to drop lower again So they're more aggressively buying puts selling calls Blue line and orange line moving in the same direction. That's a very powerful directional indicator And price moves lower Or let's go to book map now Let's zoom in Must have grabbed. Let me try that again. Let me adjust the chart so we can see this a little bit more clearly So men just a little bit more All right, so here's the The setup that I'm talking about right here Right around 9.50 10 a.m A brief pullback To this 521 level So remember starting around 9.50 Actually, here's the Here's the 9.50. Sorry about that. I missed that. All right, so that's the 9.50 short And if you missed it, there's the 10 a.m Pullback to 521 All right, so let's take a look at a book map here The volume dots are showing market buy minus sell green volume dots Indicate there are more buyers than sellers So aggressive buyers on the way up And then aggressive sellers start to come in that's shown by the magenta volume dots So the magenta dots show more sellers than buyers note in the sub chart Cumulative volume delta shown by the dark blue line To the magenta line starts to fall aggressive sellers on the way down below 521 and then Pullback to 521 also VWAP just above that And the price moves lower again. So the initial entry Right around 9.50 and then the secondary entry right around 10 a.m note also the iceberg orders Show them by the sharp drop In the light blue line also the on-chart indicator Showing those are large iceberg orders large orders that uh traders Large traders use iceberg orders to hide their size And book map with the mbo bundle stops an indicator Stops an icebergs indicator can detect those and show those on the chart And at the bottom of this move there were some buy iceberg orders coming in So sell iceberg orders at the top And buy iceberg orders at the bottom Of this move down below the 520 level also this liquidity in the order book All right, so there's the short setup in the sp 500 All right, Robbie says I can never understand the hero indicator. It moves too slowly and hard to tell Can you demo that again when you have a chance? So I'm gonna start. I'm going to talk about Several setups using hero. So I'll just move on if you want to See more about what I just covered Take a look at At the recording So again, I'm going to cover setups in NASDAQ and several stocks all using the hero indicator All right, so let's go back speaking of hero. Let's go back. So again just to briefly summarize and you don't have to take it Right away again. I showed a nice pullback entry at 10 a.m There's the pullback right around 10 a.m secondary entry but the first entry was Call buyers taking their foot off the gas that takes some time to watch this and they start aggressively buying puts All right, let's move on Let's talk about NASDAQ, you know, let me zoom out Zoom out so we can see what this is. All right, so again, I'm going to start and see what options traders are doing What this signal is this is a combined signal for the stocks known as the magnificent seven That's Apple, Amazon, Google, Meta, Microsoft, Nvidia, Tesla These stocks make up a very large component of the NASDAQ 100 And I typically look at this signal when I'm trading NASDAQ So let's zoom back in on this. I have puts and calls separated out I'm going to continue to continue to look at it that way All right, so from from the open traders were buying puts and selling calls They briefly pause And this chart price is shown in terms of QQQ And you're welcome Robbie All right, so pullback entry right around 950 the same as the first entry for the SB 500 traders start Start selling calls again start buying puts Price continues lower And really starts to consolidate Once the put buyers take their foot off the gas they continue to sell calls And then take their foot off the gas as well So sharp move lower at the beginning of the day note here from The first few minutes about the first 15 minutes blue line orange line moving in the same direction Brief pullback and then they're moving the same direction For a short setup All right, so Robbie also I don't don't take a look at this. I just don't look at this in an isolation So I'm looking at that for a clue But I'm also looking at book map. So when I'm trading I have multiple screens open So I have Hero on one screen book map on my middle screen my main screen And then my trading platform whatever i'm using on the right screen All right, so here from the open. I know that traders were Buying puts and selling calls on the mag 7 stocks Looking here. Let me actually let me zoom in on this so we can see this a little bit more clearly Just this Zoom in just a bit All right, so we've seen the clues in hero Now we're looking at book map Again A few aggressive buyers right up until 930 Then a sharp reversal lower as aggressive sellers come in those that's a lot of magenta volume dots All the way down to this cluster of levels Some consolidation and then Right around 950 Traders start taking negative delta positions in the mag 7 stocks Aggressive sellers come in and price moves lower Note during this time Kilma to volume delta shown by the dark blue line moves down Does not move up Just stays level this starts to move down again Notice also that sell stop order shown by the yellow line on the sub chart We're moving down the whole time Large traders did not come in with iceberg orders until right around 10 a.m As price moved down toward the NQ 400 level All right, so that's the initial short pretty clear here and In book map all those aggressive sellers coming in right around the 446 level And also the NQ 550 level Consolidation then moving lower again All right, let me check for questions Dare to dream welcome glad you're here Says on the mag 7 if they're selling calls All right, so they're selling calls and buying puts And that's a strong sell signal All right, so they're selling calls and buying puts those are both negative delta positions So let's go back and take a look at at hero So the direction of these lines Is in terms of delta A falling blue line indicates traders are buying puts. That's negative delta. They're also selling calls And again, that's in terms of delta. So both of those are negative delta positions So at the you know the simplest level you can just look at the direction of these lines and And tell that you want to take a short there And possibly get out When more one or more of these lines Levels off now again You know, you can just show the total signal that that's a little bit simpler Separating out puts and calls gives a little bit more clarity and a little bit more nuanced view All right, tony asked you need separate data for futures and stocks on book map. Yes So let's go back to book map So in book map I have rhythmic data That's what I use for futures. Oops All right, so uh book map. I have rhythmic data for futures That's available. Uh, you can subscribe to rhythmic data in the book map marketplace I also have dx feed data for stocks. I use the dx feed bundle and that is available in your book map portal All right Let's see. Mr. Cage Ask how can you tell when aggressive sellers are starting to come in On es while price is on the rise for example, all right, so let's go back to es Actually, let's just take a look at uh, nq. I've got it here. So the volume dots. That's what I'm looking at Again, the volume dots Are showing market buy minus sell This is pretty typical aggressive buyers on the way up. They're exhausted No more buyers aggressive sellers start to come in that show my the magenta volume dots That's indicating there are more sellers than buyers Those are market orders and price moves lower All right, so tony, uh Looks like I answered your Question about data feeds. You're welcome All right matt says you should correct your title. It says trade options like a pro Sorry, I'm not quite sure under what understand what you mean and that was not Not really of my my making this is uh, this is from book map All right, so matt maybe you can clarify what what my title should be All right dare to dream. I hope I answer your question about uh hero All right, mr. Cage just to wrap up these volume dots. I think are one of the key advantages of book map Looking at these volume dots. You just are not going to see that That shift that quick shift From sellers to buyers and back and forth in a candlestick chart All right, so let's move on. Let's take a look at some stocks For stock. I want to take a look at his apple Fix the volume dots. All right. Let's take a look at hero All right for stocks. I generally like to have puts and calls separated All right the mr. 15 says there there's a spelling mistake on the title Um, yeah, I'll take a look at that. All right. Uh, thanks for pointing that out All right, so here's apple Note the rising orange line from the open Traders aggressively buying calls when traders buy calls Market makers take the opposite side of those trades and they sell calls And they buy stock To hedge their delta exposure So traders are taking negative delta positions and they have to buy stock to hedge their delta exposure And there's often a lot of clarity In stocks just looking at this hero signal All right, so notice again traders aggressively buying calls from the open not doing much with puts Put line initially they were buying puts That quickly stops So aggressively buying calls up until about 10 10 10 15 a.m As price meters reaches the 172 50 call wall the call buyers take their foot off the gas Or they slow down anyway and price Consolidates around that level So aggressive call buyers up to the call wall and then they take their foot off the gas Let's go to book map about just a little bit All right, so I don't have the 172 50 level shown on my chart, but that's right here You can see the bands of liquidity right at 172 50. That's the call wall Price moves up above above that level to the liquidity at 173 This is pretty typical of stocks Traders will come in at the cash open with these limits limit orders Here above price. They're shown as limit sell orders And they'll stay in the order book until they're filled Limit sell orders at 173 72 50 and 72 all filled As price moves up sharply as traders again buy calls market makers sell the calls And they buy stock to hedge their delta exposure and note the Sell orders have come in again Just a minute or two later at 173 So that's the heat map and book map showing a history of the limit orders And dare to dream Says question answer perfectly. Thank you, Doug. Great work. We'll continue tuning in great Well, first of all, you're welcome. Thank you for your kind words and hope to see you here every day All right, let's move on so bullish setup here in apple Let's take a look at meta Correct the volume dots Let's take a look at hero Go to meta So note on apple there was a flow alert Something to get your attention that flow alert signals significant options activity For a bullish setup Here on meta, there's a flow alert too that may be difficult to see That's hidden by that 500 key gamma strike label but that is a A flow alert So this is a key part of my process Is I watch I'll show you where these alerts where you can see these alerts A lot of them come in Right after the first few minutes Right after the cash open note for meta Blue line orange line moving in the same direction Traders are taking negative delta positions. They're buying puts and selling calls and meta moves lower Let's go take a look at book map all right and for stocks the Volume dots sometimes are not as easy to read as they are and es and nq But in this case, it was definitely options traders call sellers put buyers driving price and meta and it drops sharply lower All the way down to about four eighty nine Right around 11 a.m 489 looks like a nade dad more lines lower All right, so let's go back and take a look at hero And note that price stops moving lower Just after 11 a.m And at this time This is exactly when traders Stop buying puts They stop buying puts start selling puts Price starts to move higher and then about 30 minutes later. They stop selling calls and start buying calls so the hedging flow shifts from negative To slightly positive somewhere between 11 11 30 and now meta is trying to move higher All right the next stop is nvidia next stock nvidia Always a good good one big mover Let's zoom in a bit so we can see this alert. Let's see if we can see it a little bit more clearly Flow alert comes in gets your attention just like meta traders taking negative delta positions buying puts selling calls Here's that 950 reversal And there's also often a very strong correlation between What nvidia does what the mag 7 does and what the nasdaq does so it's key to watch nvidia every day so initially Orange line blue line moving down nvidia moves down From about 945 to 950 lines moving up nvidia retraces then starts going down again And nvidia moves lower Let's go take a look at book map Go to nvidia Let's zoom in All right now in this case the order flow is In line with price action and the hedging flow as well You can see all the vegetative volume dots here so a little bit easier to read price moves lower Traders were taking negative delta positions buying puts and selling calls And aggressive sellers were selling nvidia You can see here's that pullback that I was talking about at 950 up to vwap some green volume dots coming in They're exhausted aggressive sellers starting to come in As traders resume taking negative delta options positions Let's go back to hero Zoom all the way out So right around 1015 the put buyers Take the foot off the gas And they're right around 1145 The call sellers take the foot off the gas And now nvidia is trying to grind higher So that fuel that was driving the And now actually it looks like they're Maybe starting to sell calls again So that really strong fuel that was driving price lower Is gone now the put buyers and call sellers But they may be coming back in Call sellers All right, so that's nvidia And let's wrap it up with tesla All right, so tesla got another price target cut today The zoom in on tesla All right, so initially traders were selling calls in tesla And they were actually selling puts as well That's shown by the rising Luline then around 950 They start buying puts Price moves lower Then around around 10 o'clock They start selling puts again Note that very timely flow alert here for a reversal In tesla They start Buying calls so they're selling puts and buying calls And price reverses higher In response to the Price target cut Know the flow alert Pull back entry And then tesla continues to move higher All right, one other thing i wanted to show real quick This is equity hub This is Also another spot gamma tool provided Again two spot gamma subscribers Let's take a look at tesla So, you know, I talked about the shifts and levels for The smb 500 and nasdaq and here's where you can see the shifts and levels For single stocks. So here's tesla. This is the history showing a 10-day history of the key daily levels And note there is a bullish hat trick for tesla today The key gamma strike Hedge wall similar to the volatility trigger and the call wall all moved higher That's shown by the green color coding there in In the history history of the key daily levels So that is bullish a bullish hat trick for tesla So using that in your Thesis for trading tesla today you would be looking for a bullish setup Going back to hero Here it is and you have to be patient. So that there was a short initially in tesla but Resolved to eventually a much better long with that flow alert signaling the shift In the hedging flow right around 10 a.m Let's go back to book map Let's go to tesla All right, so actually it looks like the long and the short were about equal much faster drop in tesla Right down to 176 absorption at that level. So those It looks like tesla did not quite reach the 176 level. That's that's classic absorption aggressive sellers on the way down shown by them all the vegetative volume dots The rising the falling cumulative volume delta aggressive buyers start to come in just after 10 a.m as traders start to take positive delta positions And tesla makes a series of higher lows Multiple pullback entries back up to right around the opening print Just above 181 All right. W. R. B. Says. Thanks. Doug. Mary. My trades on tesla as per hero. Thanks. You're welcome All right. Thanks for the update and you're welcome again all right Last call for stocks. Does anyone have any stocks they want me to take a look at? All right, let me check for questions All right, can I have asked what platform do you use for options flow? That is hero That is Spot gamma hero. I use book map and hero All right. So don wants to take a look at amazon. We can do that Amazon is typically not a very big mover Let's take a look See what options traders are doing in amazon All right, dare to agree and i'll get to your question in just a minute. So amazon traders were buying calls today They're also buying puts but the call buyers much more aggressive You can see the notional value here That's around a positive 64 million. So they are buying calls. They're also buying puts negative 11.7 million. So call buyers much more aggressive In amazon moving slightly higher A couple of flow alerts All right, so can i have against i already covered Nvidia You can take a look at the recording i covered in video All right Micro strategy. I don't have that a book map. We can take a look here and hero All right, so traders were selling calls Note 2000 is the call wall key gamma strike. It looks like that level was tested Initially, let me zoom in on this So initially from the open Traders were aggressively buying calls They shut that off pretty quickly As micro strategy gets up to the 2000 call wall key gamma strike And they start selling calls And the stock moves lower And reverses higher As they start buying calls again So really it's called call buyers and sellers driving price All right amd and then i'm going to wrap call it a day with amd Amd is a little bit has been a little bit difficult to read lately, but it looks like Call buyers and sellers driving price in amd Initially selling A little bit lagging here When they start buying calls Price moves back up to the 180 key gamma strike At that point they start Buying puts and selling calls Price moves lower Let's go take a look at book map Go to amd All right, dare to dream says on the book map that magenta line going down is that negative delta That is Volume delta So that's cumulative volume delta So it doesn't have anything to do with options. It is just Just volume delta cumulative volume delta Let me fix the volume dots Okay, so it's really reflecting What you can read with the volume dots So note the The drop lower here Just before 10 a.m Aggressive sellers starting to come in you can see all the magenta volume dots That's when cvd cumulative volume delta starts to move lower Again, so that's cumulative volume delta doesn't have anything to do with options delta All right, so there's the nvidia sharp drop lower and now Trying to move higher All right akila ask gold analysis Sorry, I don't trade gold I don't know if gold is really driven by By options and kanavia welcome And akila asks what is the best futures pair for book map? Um, sorry, I don't trade pairs really So I I can't answer that Although today you might have done pretty well with Buying es and selling nq All right. Ed Monday. Welcome. All right everyone. I want to thank you very much for watching Thank you for your question to comments Everyone have a great afternoon and I will see you tomorrow remember gdp Tomorrow morning and then also michigan consumer sentiment and we'll talk about it tomorrow afternoon All right. Thanks everyone. I'll see you tomorrow. Bye