 Hello everyone, welcome to Options with Doug, streaming live daily on Bookmap Discord and the Bookmap YouTube channel at 1.30pm Eastern Time. 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. Excuse me, Risk Disclosure. Trading futures, equities, and options involve 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. Also in Bookmap Discord, there's an Options-Doug chat channel that's a great place to post questions, comment, and content related to the topics of my presentation and the topics of the channel, which I'll go through in just a moment. And I'm also on X, formerly known as Twitter. My name there is at Doug Pless. And hold on just a second. I just had to adjust my output stream on YouTube. It was showing lower resolution. Just as a reminder, I am streaming at 1080p. If your stream on YouTube is lower than that, you can go into the settings and change it to 1080p. Again, I am streaming at 1080p on YouTube. The focus of my presentation today and the focus of the Options-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 at 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 of 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 for injuries and exits. And when I talk about setups today, I will be talking about an underlying asset, and those setups can be taken any number of ways. For example, the S&B 500 setups can be taken with the S futures, spy shares, spy options, SPX options, or even ES options. Questions and comments are welcome, and I will be watching both the options-duck-chat channel and discord, as well as the chat and YouTube for your questions and comments. Please feel free to post, and I will do my best to answer your questions. And hello, past 2910. Hello, Don. Welcome. Glad you guys are here. All right, let's get started. My agenda for today. Friday, November 3rd, the day of the jobs report. First of all, I want to go over news items, economic data events, and earnings for today. Wrap up the week. Then I'll go through my positional analysis. Then I'll review some setups from this morning or any time earlier today. 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. So the big news, of course, this week was the FOMC announcement and press conference. And the market definitely interpreted what Jerome Powell had to say is dovish, and that just enhanced the putvenner rally that began on Monday. And then today, the jobs report. Let's take a look at that. Jobs report came in much lower than forecast and much lower than previous. So bad news was good news today. And it appears that the market is now thinking that the bed may be done hiking rates. All right, so that was the primary data this morning, the jobs report. There was also some PMI data out at 9.45, 10 a.m. services PMI. Both numbers were less than expected, less than previous, but still greater than 50 indicating expansion. All right, so that wraps up the news for the week. All right, let's take a look at positional analysis now. This is the ES futures and book map. I'm going to start with ESP 500. And before I take a closer look at this chart, I want to take a look at a larger time frame. Let's start with the SPX in a 30-day one-hour chart. Let me point out the turning points on this chart. First of all, the last, next to last, there's the October 20th options expiration, the monthly options expiration, very put-dominated, negative gamma. I was expecting a put-vanna rally that did not occur. And then this is the Monday when the rally began. Let's take a look at what was helping to fuel that rally. This is VIX. This is last Friday. Traders buying puts ahead of the weekend occur looking at or hedging weekend risk. And then the market did not interpret anything over the weekend as warranting these puts. And the VIX has dropped ever since then, creating a huge tailwind for equities. Let's go back to the SPX chart. And that led to a, so far, a around a 265-point rally from the low of the day on Friday, right around 4104 to the high of the day today, 265 points in a week. So that's a huge rally straight up. All right, let me point out some levels on this chart. First of all, the dash purple lines are showing the lower and upper weekly expected move. This is what the options market was pricing in last Friday for this week. And they were wrong, very wrong. SPX is trading well above the upper weekly expected move. Then the dash blue lines are showing the lower and upper daily expected move. And those lines are set once a day. And SPX is trading above the upper daily expected move, right around 4350. And that is also the call wall. We'll take a look at that now. So the dark red horizontal lines are showing spot gamma proprietary levels. These are based on gamma weighted open interest. Let me point out the key daily levels. The first is the put wall at 4000. That's the strike with the largest net negative gamma that can be expected to act as support. The next level up is the volatility trigger at 4285. That is spot gamma's proprietary gamma flip level. Below that level, market makers position on the gamma curve is negative and 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. Like right now, when market makers position on the gamma curve is positive, they have to trade against price to hedge their delta exposure. We'll take a look at the Vana model in just a minute and see a graphical representation of that. All right, the next level just above that is the 4300 absolute gamma strike. That's the strike with the largest absolute positive and negative gamma. That's at 4300 earlier in the week that was at 4000. So it's moved up to 4300 now. And then the next level up, the final key daily level, is the call wall at 4350. That's the strike with the largest net positive gamma that can be expected to act as resistance. So far today, not doing its job. SPX is trading above that level. All right, so those are the key daily levels. SPX trading above upper weekly expected move, upper daily expected move, volatility trigger in a positive gamma environment, and also above the call wall. All right, that is the 30-day one-hour chart, huge rally in the past week. All right, let's take a look at a one-day chart just to see the levels and play for today. So this is SPX, and actually I'm showing about three days worth of data here just to, so I can get this upper weekly expected move in on the view. There's the upper weekly expected move, upper daily expected move, and that is also the volatility trigger at 4285. And here's the call wall at 4350. So the volatility trigger, the lower daily expected move, and the upper daily expected move is just right at the 4350 level, the call wall. All right, so those are the levels and play for today for the SPX. Shifts and levels for SPX. The volatility trigger did shift higher from 4225 to 85. Pretty good move higher in the volatility trigger. And as I mentioned before, the call wall, or maybe I did not, but the call wall shifted lower from 4,400 to 4350. So that is the call wall shifted lower and still not doing its job today. It did for a while. Price chopped around that level and then took off again about 1130 or so. All right, let's take a look at book map and then I'll get to questions. Yeah, so here's book map and book map. I have my own cloud notes. So I can show SPX levels. There's the 4350 call wall. I can also, I'm also showing spy levels. There's the 432 call wall. And for spy, that level did shift higher. And actually for spy, all the key daily levels shifted higher. Volatility trigger, put wall, call wall and absolute gamma strike all shifted higher. Very bullish shifts higher and the levels for spy today. So I have SPX levels, spy levels. The spot gamma levels are shown with white background, red tags, white lines on the chart. The other round number levels just shown with yellow. I also have the ES levels. Shown with red, the big round numbers, the zeros and the fifties. All right, so that's the SPX. Note that this, here's the reaction after the jobs report. So about half of the move today took place before the cash open. Straight shot higher, 830 Eastern time. Then a test of this, these levels right here, note the liquidity coming in. That's shown in the heat map and book map. A lot of buyers coming in with limit buy orders in between 432 around ES 4350 and then the SPX 4336 level. And then the second half of the move from 433 to 436 took place after the cash open. All right, so those are the levels in play for today. So far the SPX, the spy 436 level may be acting as resistance. All right, let me check for questions. Past 2910 since last time was different. Non-farm payrolls, I call it the jobs report, was high in the market rallied up. Yeah, I guess it depends on the current sentiment and how they're interpreting the data. Jay Medina asked, do you think we will pull back next week on NQ? So I assume you mean NQ by we and I don't know. I hope so. I have a lot of longer-term positions that are in a negative delta position. I will cover the NQ, but my analysis is really from day to day. So I won't know anything about these indices for next week until I get data from Spot Gamma. That'll come Monday morning. And past 2910, ask, what do you think of all the gaps left behind? That's not something that I really look at. I'm looking at what I talk about every day, the shifts in levels. I'm looking at what options traders are thinking, how they're positioning themselves for moves in the market. So for example, if the call walls are moving higher, market makers or traders are anticipating and looking for higher levels in the market and they're positioning themselves in the options market for higher prices. So that's what I look at when I analyze the market. That's all I look at. And I won't know more until Monday when the new Spot Gamma levels come out. And certainly logic, you would say that with the SPX up, 265 points in a week that there's got to be some at least consolidation. And I don't know what the point number, I don't know how far the rally has gone in the NQ this week, but I'm sure it's very similar. All right, so again, the basis of my analysis is the Spot Gamma levels and how traders are positioning themselves in the options market. I think this is based on expectations they're looking for and expecting higher or lower prices and positioning themselves in the market accordingly. All right, so that's the SB500. I've talked about shifts in levels. So for the SPX, volatility trigger higher, call wall lower, and for SPY, all the key daily levels shift at higher. And so far, the range for the day has been around from this 430 level, SPY430, before the open to SPY436. All right, so that's about 60 points or so in ES. All right, let's take a look at NASDAQ now. So here's the NQ futures and book map. And first of all, I want to take a look at the QQQ levels. So I'm going to take a look at a QQQ chart for today so we can isolate the QQQ levels. Here, this combo level, this combines QQQ and NDX. Gamma weighted open interest into one level here converted to equivalent QQQ prices. Acting as resistance and prices broken above that. Now the 368 level acting as resistance. And earlier today, the 365 level acted as support. So the QQQ round number levels in play, the combo levels as well. All right, Jay Matina says NQ has gone up over a thousand points. That's certainly understandable given the magnitude of this move. All right, so that's QQQ showing the levels in play for today. Here's NDX. Here's that same combo level. I'm just showing more data here to show how NDX is positioned relative to, first of all, the volatility trigger. NDX trading well above its volatility trigger and a positive gamma environment. Also well above its call wall. And here's that combo level that was acting as resistance earlier today. And then here's the NDX, 15,000 level acting as support. All right, let's go back to NQ futures. So just like the S&P 500 ES futures I have and NQ futures I have QQQ levels. There's the 368 level that is acting as resistance. Here's the NDX 15,000 level. Here's the QQQ 365 level. Also NQ trading above its upper daily expected move shown with the dashed blue line. And I'll talk about setups in a few minutes. Past 2910 says I'm in deep red. Yeah, my longer term positions are definitely in negative delta territory, taking strangles and iron condors, taking and beating this week. All right, so those are the levels in play for today for the NASDAQ. And I'll talk about setups in a few minutes. All right, let's take a look at gamma notional now to see how market makers were positioned on the gamma curve at the beginning of the day. So there's been quite a shift in gamma notional. I'm looking at gamma notional for SPX, SPY, NDX, QQQ, RUT, and IWM. So this is showing how market makers were positioned on the gamma curve at the beginning of the day. And note the shift to positive for SPX. So these levels have been coming gradually less negative and now to positive for SPX for the last few days. With this rally every day, gamma notional becoming closer to positive in a negative gamma environment. This indicates that market makers are traders, are long puts, market makers are short puts in a negative gamma environment they have to trade with price to hedge their delta exposure. Now on the other hand for SPX, in this position on the gamma curve, traders are short calls, market makers are long calls, that's what gamma assumes. So market makers have to trade against price to hedge their delta exposure. So for example with price rising, if they're long calls, their delta is increasing and they have to sell futures to hedge their delta exposure. They always want to remain delta neutral. Gamma notional for SPY still remains slightly negative. That is pretty much close to neutral for SPY, QQQ, slightly negative as well. The same for IWM. All right let's take a look at the Vantemodel now, get a graphical representation of what that means. So this is the Vantemodel for SPX. What this chart is showing is market makers delta notional. It's their delta exposure on the vertical axis, price on the horizontal axis. There are two curves on this chart. The first, the light, wrong tool, light gray curve shows how market makers delta notional with changes in price only. The purple curve adds implied volatility to the equation. That shows how market makers delta notional will change with changes in price and applied volatility. And that change in delta with a change in applied volatility is the Vanna effect. Vanna is a second order Greek and I've talked about this every day, what's been going on as prices increased, implied volatility drops, market makers delta notional decreases. So price increases, implied volatility drops. I showed the chart of VIX earlier. Market makers can buy back short futures. And that definitely provides fuel for a rally. So this week has been a stop fuel put Vanna fuel rally higher. All right, the important thing now and this shift in the curve toward a more of a skew on the right side and the left side is typical of a positive gamma environment. So let's take a look at the trough on this. Excuse me. Excuse me. I'm looking at the purple curve. That's the one that we want to take a look at. And I'm looking at the trough on this curve. So right around 4340 to 4350. That's the bottom of the curve. So what this is showing is if price continues to increase, market makers delta notional will increase. And they will have to sell futures to hedge their delta exposure. And that should slow down this move higher. And on the other hand, if price decreases, market makers will need to sell futures to hedge their delta exposure. So either way price goes at this point, market makers will need to sell futures. So no more, at least for today, no more put Vanna tail end for the market. It's all burned up. That fuel is gone. All right, let's take a look at SPI next. So SPI the trough is right around 434. Last time I looked SPI was right around 436. So starting to head up this curve. So as price continues higher, market makers delta notional will increase. And they will have to sell futures to hedge their delta exposure. Let's take a look at QQQ. And the trough here is right around 367. So price heads up to 368 and beyond. Market makers will need to sell NQ futures to hedge their delta exposure. All right, so that's the Vanna model. That's a graphical representation. And this is a very new view. Let's just step back a couple of days and see how this curve has shifted. From the first, that is the FOMC day to negative 778. This is for SPX. The next day, yesterday to minus 406. And then today to a positive gamma environment, positive 321. All right, let's take a look at some set up. Actually, let me go to my thesis now. So my thesis for the day was, first of all, based on the shifts and levels bullish, based on any logic about mean reversion that would be, alternate thesis would be bearish. So that may happen sometime. Again, based on what I said earlier, we'll take a look at the shifts and levels for Monday. If traders keep moving that call wall, the call wall is higher, the rally could continue. All right, let's take a look at some setups now. I'm going to start with what options traders are doing. This is the hero signal, hedging impact real-time options, that's showing options trades, market maker hedging activity for the SOB 500. So this chart is showing price for SPX with a white line. The hero signal, again hedging impact real-time options for a combined signal for SPX, SPY, XSP, and ES futures. So everything that I've shown so far other than book map is, has been based on static data, mostly gamma weighted open interest. That is what I use for my planning. And now we're getting into the execution part, the real time. So what this chart is showing again is options trades and market maker hedging activity for that combined signal, SPX, SPY, XSP, ES futures. So let's take a look at a setup from this morning. Note that SPX quickly moved above its call wall this morning. And as it did, options traders were taking negative delta positions. So just right around 950, they started fading the move higher, taking negative delta positions. Price reversed higher and options traders really weren't participating strongly in that move higher, but they stopped taking negative delta positions. Maybe that was enough to help the market move higher. All right, so let's take a look at book map now. Let's go to ES and book map, go back to ES. I'm going to zoom in a bit. So I'm just reviewing a setup from this morning. Remember, as price was approaching the SPX call wall, and note there is a difference in price between ES and SPX. And today it's around 18 points. So the SPX 4350 is shown at ES 4368. All right, so as price rallied at the open, jumped up above the call wall 4350 call wall, options traders started fading that they were taking negative delta positions. And that did set up a short this right around the SPY 435 level. And you can see the aggressive sellers coming in. These volume dots show market buy, minus sell. Green dots show more buyers than sellers. Magenta dots show more sellers than buyers. So this move higher was definitely fueled by buy stop orders that's shown by the rising yellow line. Note that aggressive sellers were starting to fade that. That's shown by the dark blue line cumulative volume delta falling lower. You can see the as price moves up, aggressive sellers coming in, magenta volume dots. And then finally they start to dominate and price moves lower with this final stop run up above 3 435. These green dots are showing the buy stop orders as well. Stop run up to right around this liquidity here. Then price reverses lower. The buyers are exhausted as options traders were taking negative delta positions. And remember the Vana model that as price was moving higher, market makers would have to sell futures to hedge their delta exposure. All right, so that was a short set up in the in the morning. It was short lived. Maybe depending on you when you got in up good for up to 20 points. 20 ES points. All right, let's zoom out now. And then that was again pretty short lived as options traders. They stopped taking negative delta positions. Let's just go back to hero. So initially taking negative delta positions and then they have started. After that that has shifted slightly positive. And prices continued to rally. Note the shift in hero here right around here. Then SPX resumes the rally just a few minutes later. Let's go back to book map. So with a mild boost by options traders. This rally has been fueled by first of all, stop orders by stop orders that's shown by the rising yellow line. And also very strangely and in my opinion, large traders buying with iceberg orders that shown by the rising light blue line. Net cumulative for the day traders, large traders have been buying with iceberg orders they used to hide their size. That is cumulative for the day from the time that I opened book map, which was around 7 a.m. Eastern time. Iceberg orders. Stop orders fueling the move higher. No cumulative volume delta now. This is interesting aggressive sellers. Market orders have been bearish all day since around 9.45 a.m. CVD has been turning lower. Right so that's the S&P 500. Short setup that was indicated by hero. And then a move higher. Really finding support around VWAP. That's this light blue line. Also the call wall. Let's zoom in on this. The 4350 call wall acting as support. For that last test before price moved up about 20 points. ES moved higher 20 points after that final test of 4350. All right so that's the S&P 500. And maybe finding some resistance at the 436 level. Let's go back and take a look at hero and see what options traders are doing now. All right so hero has really leveled off. Maybe slightly higher. Net for the day it is negative. This number notional value minus 1.17 billion. Let's separate outputs and calls see what traders are doing. So as usual they are buying calls. Showing by the rising orange line. Positive notional value. They are also buying puts. Showing by the falling blue line. And the negative notional value. All right so for net for the day still. Still negative notional value. And most of that came in in the first hour of trade. Right here. Let's take a look at one other thing. Let's see what traders are doing with zero DTE options. So that's interesting. The zero DTE is going in the opposite direction of the all expirations. All trades that shown by the purple line. That is all expirations. And then this green line next expiry is showing options that expire today. So that is showing you what's been driving the market higher today. Options traders with zero DTE options. Let's just take a look at one other thing. Turn this off so we can just see puts and calls. So with the zero DTE options. That's odd. They are don't know what happened. They were selling puts and buying calls. All right let's clean this up. Turn that off. All right I just lost the hero signal all together. Let me refresh this page. All right there we go. All right so that's the S&P 500. Let's take a look at NASDAQ now. And NASDAQ more definitive as far as the direction goes. NASDAQ traders have been taking negative delta positions all day. We'll take a look at this Magnificent 7 hero indicator. The combined indicator in just a few minutes. We'll see the last time I looked. Traders were taking positive delta positions in the Magnificent 7. So they could be taking negative delta buying puts. And buying puts in the index and then buying calls in the Magnificent 7. All right so let's take a closer look at this. And this was another short setup in the morning. Short lived. As traders were taking negative delta positions. That's set up a short again very short lived. Right around 10 a.m. Let's go to NQ. Take a quick look at that. And I'm you know looking at this. This is what I was looking at in the morning. You know not knowing what is what was going to happen. For the rest of the day. So here's that hero divergence short setup. From NQ 15150 down to right around 1550. So about a hundred point move lower. All right let's go back to hero now. So traders are buying puts and selling calls in NASDAQ. All right let's take a look at that Magnificent 7. Combined signal. So this is showing a combined hero signal. For the stocks known as the Magnificent 7. Apple, Amazon, Google, Meta, Microsoft, Nvidia, Tesla. Bullish for the day. So they're buying calls and selling puts. These are longer term trades. Just a portion of this is short term zero DTE shown by the green line. Most of the trades are longer expirations. All right so this is a good signal to look at if you're trading NASDAQ. And this is definitely confirming that little short that I talked about. As well as a long starting around 1030. Let's go back and look at NASDAQ. So here's that long setup right around 1030. Right around QQQ 365 and NDX 15000. Probably start to make a series of higher lows and higher highs. Now back up to NQ 15200. All right let's take a look at some stocks. So let's first take a look at Apple and see what traders are doing in Apple since it reported earnings after the close yesterday. So the pre-market yesterday or the after after hours Apple was down a bit and it looks like traders have been taking advantage of that dip and buying Apple today. Let's see what options traders are doing. So we'll go to Apple. So options traders today are really fading this move higher taking negative delta positions. So in Apple they're selling calls and buying puts. That's shown by the falling blue and orange lines. All right let's take a look at next stock I wanted to take a look at as AMD. AMD reported earnings earlier in the week. Note the 110. That's the call wall in the key gamma strike. Price trading above that level. And call buyers driving price higher in AMD today. When traders buy calls, market makers sell the calls and they have to buy stock to hedge their delta exposure. Let's go take a look at book map AMD. All right nice rally here in AMD. As traders continue to buy calls again market makers are selling the calls and they have to buy stock to hedge their delta exposure. All right let's take a look at another stock. I'm going to take a look at Netflix. Note the 430 call wall key gamma strike. Netflix also trading above those levels. Traders are buying calls and selling puts. Show by the rising orange and blue lines. Let's go take a look at book map. Very strong rally and Netflix here. There's the 430 level. Call wall key gamma strike did act as resistance. For a while this morning up for maybe up until 1030 or so. And then price launched above that. When price moves above a call wall that's a call wall breach. Those that's the area with the largest amount of call gamma. And as price moves higher those calls go into money. And their delta starts their delta is increasing. So market makers delta notional is increasing. And they have to continue to buy stocks that hedge their delta exposure. For stocks market spot gamma assumes that traders along calls. Market makers are short calls. So when these short calls go further in the money. They have to buy stock to hedge their delta exposure. All right let me check for questions. All right VHU says good afternoon. Good afternoon to you. Welcome glad you're here. Yeah I'll talk about Tesla that was next on my list. All right so here is it's Netflix call wall breach. Price moves higher. All right let's take a look at Tesla now. Up and down day on Tesla here. Let's see what options traders are doing. Actually before we do that let's let's talk about this. Chart and book map a little bit. You can see all of the green volume dots on the way up. Aggressive buyers magenta dots start to come in. Aggressive sellers start to come in and price reverses sharply lower. Let's take a look at the CVD line cumulative volume delta. And really at this at this view of the chart looking at the entire day of price action. cumulative volume delta has been going down all day. So a lot of aggressive sellers in Tesla. Let's see what options traders are doing. Go to Tesla. And as usual there's a very strong correlation between options trades hedging flow and price action. You can see the close correlation between the hero signal and price. Let's separate outputs and calls. You can see in the warning there were aggressive call buyers coming in above the call wall. Traders were buying calls market makers selling the calls. And they have to buy stock to hedge the delta exposure that was also above the call wall. All those calls at that level going further in the money. Then they suddenly shut off the call buyers shut off and price drop lower. Very strong correlation between calls and price action on Tesla. Let's go back to book mat. Remember 220 is the call wall the key gamma strike. The 220 level price may be trying to consolidate around that level. All right. Does anyone have any stocks they want me to take a look at? I'll be glad to do that. Otherwise let's go back and check on the SMB 500 and the NASDAQ. So SMB 500 still chopping around between 435 and 436 spy levels. I'm going to tone down the heat map just a little bit. So we can see price action a little bit more clear. Let's see what options traders are doing now on the SB 500. Back to the SB 500. So not really a clear signal here from from hero pretty flat. Since about 1245 and one o'clock. And remember we saw before that zero DTE traders were really driving price today. We're helping to drive price along with buy stop orders and large traders with iceberg orders. Let's just take a look at let's change the rolling window period. So we're just looking at the last 30 minutes of data. So the hero lines looking at just the last 30 minutes of data. Maybe ticking up just a little bit. I'm going to go back to the total signal only and take a look at puts and calls. So both fairly flat. So net for the day actually looking to just last 30 minutes of data. They are selling calls and buying puts. Both the notion of value for the blue and the orange are negative. So looking at just the last 30 minutes of data they are. Both lines negative or this change back to the total signal all trades every day. So that shows net for the day they were still buying calls and selling puts. All right. Shane asked about TLT again. We'll be glad to take a look at that Shane. So TLT falling today. Falling today. All right TLT tracks the 20 plus year treasury. So TLT falling today there is some options activity. Today there's a pretty strong correlation between options trades, hedging flow, and price action and TLT. So they are buying puts. I'm sorry selling puts and selling calls. So the IV and TLT must be high. Give me just a moment let me check something here. So I'm looking at tasty trade on another screen. So the IV rank for TLT 53.5 that's pretty high. Volatility high in TLT. So they're selling premium in TLT. Let's take one last look at the SP500. Still grinding. Let's go back to book map. Chopping around between those two levels 435, 436. Now NASDAQ moving higher. All right what a week it's been. So far around 265 point rally in SPX and counting. And according to Jay Medina over a thousand points in NQ quite a week. Everybody thank you for watching. Thank you very much for your questions and comments. Have a great weekend. And I will see you tomorrow Monday. Thanks again. Bye.