If you sing I've never felt this way before And I swear This is Alexis We need you And thank you for watching, we're just on Patreon, follow us on Twitter account And also please follow us on Instagram, Twitter, all juicy gondens We need you to do, super babies want you to do it so cheesy when we have cheesy 90's videos Sorry about the fan Again It's hot here in Los Angeles It's warm, but it's 120 degrees Celsius It's true We are reacting to a festival Because on the second, which is today Somebody asked us to react to the say this for me Ganesh Ganesh Ganesh is birthday celebration It's a festival One of the thousand festivals in India We're just burning up, that's all It's just hot in here The moment the air gets stagnant, our flesh starts to kindle So if we look redder than usual Here Especially us together, it's not okay Bad Here we go I'd arrive during one of the biggest festivals in the entire world I'd arrive The annual birthday celebration for the elephant headed god Ganesh Oh, okay For weeks and months before the festival Hindu families buy or make statues of the god Before carrying them as part of a huge procession Down to the Indian Ocean This is just a temporary installation We're going to paint it down at the end of today That's not an elephant, though No, it's the eight armed goddess This was the elephant This is Ganesh Hindus believe that paying homage to Ganesh Will remove obstacles to success And bring good fortune over the coming year Vikas Vasudev would be my guide On this leg of my journey in western India Ganesh is a visitor He visits the people of the earth And then the way you bid farewell to Ganesh And put him back in the earth This is the all inclusive nature of this festival This lady who was just receiving a blessing Or giving a blessing there She's Muslim This is a Hindu god But this festival brings everybody in the city And the country together For the finale of the festival Even this huge Ganesh is carried through the streets Towards the sea Joined the devotees as hundreds of other Ganeshs Flooded in from different parts of the city Traditional Indian festival Made this city one of the great Indian Ocean trading ports That same monsoon delivers this deluge Did I get it? That's the end of the festival It's a good time where the bad comes to stay during festivals It's on the last day of the departure Ganesh is the god of wisdom, prosperity and good fortune The festival is hugely popular with the millions of people Who've flooded into this great city in recent years Fleeing rural poverty and seeking a better life We're at a very long and magnificent wonderful day Ganesh is going into the sea What city this took place in? Uh... If it said Mumbai Is it? Check in the description I'm just uh... Just guessing Spitball in here Uh... Let me check here Doo doo doo doo Mumbai! Mumbai, good guess I doubt, guess Mumbai Uh... Somebody's just been asking Do they leave it in the ocean? Yeah, but it's done But it stays there like a shipwreck Like a shipwreck?  Yeah, I'm sure over time The salt and the ocean floor covers it You go down, you're scuba diving All of a sudden? Elephants Everywhere, yeah Which would be cool But I'm pretty sure it gets covered up And also over time, depending on how far it gets out there Actually coral can grow on it Stuff like that Or is it biodegradable? Just like... Maybe The materials that they made it looked metal The materials that's made with it very well could be biodegradable Knowing India And how conscious they are of the planet It would not surprise me if they were biodegradable materials And please, obviously inform us Let us know Because Rick knows nothing So I'm not relying on him for actually 100% you shouldn't I do know that it stays I do know that Yeah? Yeah, because they have the one that stays in the water And they make a new one for the festival the following year Wow Do they do this with almost every god? I don't know that That's a great question The other one that was in Kahani, right? Yeah, they do have festivals that are For each of the gods that are represented But I don't know that every single festival Ends with them taking the The god and putting it in the water I don't know that that's it And it could be These are the only two I know of Durgapuja and this one There's probably several others Where they would do it that way In other cities But then you would obviously have the challenge Of places that aren't That are landlocked That don't have a water place to dump it I mean, Mumbai's got the ocean You may have places that have rivers I was trying to think if they had Like something here for it But I was like, there's no way They could dump something in the ocean No, people here would freak out Yeah, it would not be okay with that Well, they would if it was Yeah, no No, they wouldn't They wouldn't I mean, they might like Put it in They might have to take it out Right Like something like that Probably I'm sure they have like Celebrations here of this I just don't What are you doing? And Happy Do you call it just Ganesh? Ganesh Day? Ganesh? Happy Ganesh? It should have said that The title Ganesh's birthday celebration It has to have a proper name They're all saying Like Durgapuja Yeah, like Durgapuja No, it's gotta have a proper You know Maybe it's just called Ganesh Like share No What name? I don't think anything It's just Durgapuja I'll do that again Sorry It's so hot Yeah, so please let us know What else Also, let us know Future upcoming festivals Because we did the one With the people climbing on each other We absolutely Yeah, we absolutely need to do So we love learning about All this Durgapuja is coming up In October So that's the next one Durgapuja would be the next one That's the next really big one That's coming up Okay Very similar Yeah, in terms of the That's several days And during that time period That God is visiting on Earth At that time And then when it ends The statue of the God Is put into the water And there's things that will Happen each day During the time of the festival Cool Yeah, but What do you think? Different God Good stuff Good stuff


Let's look at some interesting scenarios where through the programming of network elements The customer or the operator could change the behavior According to certain requirement. So we look at a broad framework Then we'll discuss some use cases where an operator specifically an operator a Programs its own infrastructure that is intra infrastructure or intra operator Programming and then we'd look at the specific example out of some use cases So let's define the way we are going to look at the whole situation. We can think about the Scenario as a framework where we have different entities these entities would have a relationship that who owns the programmable infrastructure and who gets to a program it So these entities like consumer enterprise Operator third-party all are assumed to have some control And some infrastructure this would this could include a data center mobile devices and Home network elements visually we could look at it as we have operator a we've got operator B These are connected through a network to network Infrastructure then we have operator a that is connected to the consumer through the user to network interface The user to network interface for the customer then we have the user to network interface for the enterprise and These two operator a and B are connected through the network to network interface in terms of their possible relationships in which some programming could be done Let's look at the Operator enterprise in consumer placed across each other So we can think about an operator programming another operator. It could be an intra operator programming scenario a Operating a or it could be an inter programming scenario where we have Through the network to network interface operator a can program the infrastructure of operator B then we have Operator that could possibly program an enterprise or an enterprise could possibly program an operator through the user to network interface of the Enterprise and correspondingly we could make for all possible combinations the use cases could be numerous For instance, we have an operator that is interested in detecting a fault or recovering or isolating an error Then we could in fact We are going to look at this specific example where a new service type is introduced if this needs validation And some regression testing is also going to be required Then we could have a system integration Relating it to all possible services, which are already running As in DevOps then we have network elements which could be running third-party code The third-party code comes from the third party, but it is programmed through the operator itself Then we have the non data center applications, which the operator has to run itself then If there are multiple vendors then their interoperability has to be ensured And if there's a problem the isolation of the error has to be done by the operator itself So let's look at a specific example for dev ops that is development and Operation where we have a service that we wish to introduce and test it So that's the title of it now in in this scenario and in subsequent scenarios to come This would be the standard template where we'd have a title of the Requirement then we have the actors then what is going to be programmed what is going to be programmable The description of the problem itself and then the programmability aspect the network programmability and the advantages So the actors here are going to be of course the service provider develop dev ops team They are going to ensure that they have enough test resources and network resources So what is programmable in this scenario? We have a service development in test environment where we have New service to be tested So the description says it that we have a brand new service Which is installed in the service provider facility in a sandboxed environment Sandboxing actually means that now we are going to make sure that our existing functions Do not falter in order to achieve that we have to make sure that the runtime environment That the application is going to run into and the network connectivity that is that would be needed for this particular Application to run do not affect other things. So this has to be safeguarded or sandboxed This environment actually has to be isolated so that the production application And networks are not impacted with the new services behavior And the the the setup is going to be automated since we are talking about programmability We would involve least human intervention. We want the system to do it at its own So the system is automated From the configuration information the sandbox environment can be instantiated on demand A certain timer could be introduced a time to initiate the service test the service and Stop the service remove the service and then the execution of test cases with the environment are also automated various Scripts or various qc tests are run. Now this particular use case focuses on the Network portion of the sandboxed environment because we are interested in network programmability so the programmability approach would be to develop a new service and test it in unified hardware software test cases And make sure that the software updates are tested in an automated manner The network programmability would now involve for the Operator to have an interface programming interface between the execution environment and the Supporting network. This would involve some network configurations. For instance, uh, layer two layer three Addressing has to be carried out topology has to be created and then Some services have to be provisioned like naming service Discovery service security service all these services would be provisioned at runtime Then current capability requirements on each interface Have to be determined in terms of the qs parameters the qs parameters have to be Declared in a xml like schema where the network has to be told to implement certain functionality Then on-demand changes to any of the items which are done over the execution cycle This could include certain topology change If there is a change of users certain increase or decrease in number of users, etc, etc So the overall advantage that we are going to get with this Is we are going to experiment with untried services in a sandbox environment The operator could install some services and if the services are appropriate could incorporate or commission those services in the network So the challenges are going to be Interesting the network should be able to engage the physical resources at the network layer To support the services on demand in an automated fashion Similarly, the network should also be able to Isolate the errors so that the production network or the network which is in Production in usage is not affected and now the service providers will have to be involved with software development capability So they have to have the trained work staff to meet the requirements The resource that I have taken is the same Uh the act as report from 2013 Operational opportunities and challenges of stn network function virtualization this particular Alliance or the company is Doing a great job in making contribution to certain international standardization Activities you can see that it's involved in 3gpp. It's involved in machine to machine Standardization effort and it's accredited by the american national standards institute and is also part of the itut


We think that just as one minister said, there is plenty of more investment in Nigeria. We are pushing people, this is the situation where the manufacturing system is here, all of that is important to us, we will stay in Nigeria and I am sure that we will find that our market is not just one that is black, it is one that is very important in terms of the capacity. Thank you very much for coming to the table and I hope that you will have a good time. Thank you very much.


And if you compare for a moment the broadcast network, and how much is controlled within the broadcast network, versus the internet, and how little is controlled outside of the hands of the end users, what you see is a radical change in the power to control which portion of the communication can be controlled by whom. And end users get to control the vast majority of discrete components of any communicative action once they use the internet. Now, what this change in architecture, which is itself a result of the change in technology of communications and computations represent, is an unusually crisp moment of opportunity for deciding how it is that we will organize our system of information production and exchange. What we've seen for the past 150 years, since roughly the second quarter of the 19th century, is a systematic trend towards concentration and commercialization of information production. The result of this was an adaptation of public discourse from a relatively smaller scale, discursive, and engaged environment to a stark separation between professional production that required heavy investment in mechanical presses, in telegraph capacity, to a very widely dispersed population of people who were reading one paper or perhaps two. This model, needless to say, was very easily adapted to radio and later on to television and cable systems and satellite. They all shared the same economic structure, high upfront costs of capital and distribution to mass audiences. The internet represents an opportunity for a radical reversal of this trend. It extends the reach of the network, but not as did each of its preceding technologies by increasing the capital cost of communication, but in fact, by radically distributing the capital cost of communication. A laptop or a desktop is not fundamentally different from a router inside the internet network in the same way that a telephone or a television is different from a switch or a broadcast station. The network gets flattened out as a matter of its economic capitalization structure. And this means that anyone with the capacity to buy a relatively small device, be it an individual in the more advanced economies or a village in more developing economies, suddenly has the capacity to be a publisher to have global reach in a way that was impossible simply because of the capital structure of communication systems before the internet. We are now therefore entering a moment in which human beings rather than capital can become the organizing factor of our communication system and of the information environment that it makes possible. Because it is no longer necessary to aggregate large amounts of capital in order effectively to communicate, what remains is the one thing that cannot be reduced and that is human creativity and experience and wisdom. And that can become the organizing principle of our new information economy. What we're seeing on the internet with the radical decentralization of capital in the network are two emerging phenomena that diverge from markets and hierarchies. The first is an increasing role for all forms of non-market production. Now, we have to remember that in information production, it was always the case that non-market producers played a more important role than in the production of cars. We don't have academic centers for the production of cars and steel. And yet for information, for science, for knowledge, academic centers are crucial. Non-market sectors are crucial. We see it from academic science. We see it in things like public television and public radio, like the BBC. We see it in publications like Consumer Reports. Non-market players, non-commercial players play a huge role in information production already. With the reduction in the cost of being an effective global reach communicator of any form, these non-market providers who have fixed budget usually rather than like commercial providers having budgets that are linked to how many people use them are now able to reach much wider audiences, much more effectively than they could before because while the budgets are fixed, what you can do with a fixed budget increases dramatically. The other and perhaps more radical development that we're seeing and in fact sufficiently important that we will spend an entire session on it in the live session is the emergence of large scale commons-based peer production. Again, like science or like the Oxford English Dictionary, this is not unique to the net. We have seen large scale cooperative enterprises for the creation of information, knowledge and culture before the net emerged, even around the markets, not in markets and not in industrial firms. And yet as we see with the emergence of free software, as we see with the increasing salience of phenomena like Slash Dot and Wikipedia and the Open Directory Project, more and more on the web, we are seeing effective large scale collaboration between volunteers who make information goods that are as good as if not better than those produced by the market in a way that was impossible or all but impossible before the internet emerged.


And hello Hector and JEC good afternoon for me and just waiting on YouTube to get started Hello, everyone. Welcome to options with Doug streaming live daily on Bookmap 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 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 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? 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 to the options market and how those positions change from day to day To develop a thesis regarding the expected trading range and volatility for the day as well as a directional bias and The second step in our process is execution and 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 just to be clear. I am talking about but I will be talking about setups And I will be talking about setups and underlines, but they can be taken any number of ways with future shares or options and Again, my planning process is based on the options market and Questions and comments are welcome and I will be watching the option stash dug chat channel and Discord and the chat and YouTube for your questions to comment So please post it'll make it more interesting for me and hopefully for everyone else as well all right, let's get started and JEC says the morning was fairly boring. I mean honestly And that that's good, I'm not looking for excitement and trading I'm looking for Just to make money and no stress All right, let's get started What I want to cover today News items then I'll go through my positional analysis and then I'll look for setups talk about setups So first of all news economic data yesterday Amazon reported earnings after the market closed and I believe Amazon is trading down a Little bit. Let's see Yeah, Amazon is down around three and a half four percent so far today. So unlike some of the other large cap tech earnings Amazon was Initially moved higher, but then moved lower All right, so that is that was yesterday and then today today the PCE and Consumer sentiment came out PCE data at 8 30 a.m. Mr. Eastern time Consumer sentiment at 10 a.m. And there wasn't much of a reaction for PCE, but I don't know if it was consumer sentiment or not But the the market did rally Around 10 a.m. And we'll take a look at that in just a minute And both of these numbers were in line with expectations and also previous reports. So nothing Nothing new there really and then next week of Course the FOMC meeting is on Wednesday or Tuesday and Wednesday the announcement of news conference on Wednesday and Then the employment report comes out on Friday at 8 30 a.m. Mr. Time So I'll talk more about that next week and then also next week AMD and Apple both report earnings. So again, I'll talk about All of that in more detail on Monday All right, let's start with a positional analysis now. Let's take a look at charts. So this is book map the ES futures and a very bullish day and The levels that are in place shown on this chart and I actually I'll talk about that in just a minute Let me go take a look at a larger time frame first. So this is SPX This is a thinkorswim Chart just showing SPX price and key levels for the day So the purple lines are showing the lower and upper edge the expected move for the week That's the purple dash lines there and then this Blue dash line is showing the lower and upper expected move for the week for the day And note that SPX is trading above the lower of the upper edge of the daily expected move for the week All right, so That's SPX. Those are the expected moves again for the day and the week And now let's take a look at some of the key gamma levels. These are shown on the chart These are provided to spot gamma subscribers For a variety of trading platforms here We're looking at thinkorswim and this is the put wall. I'm going to go over some of the key levels today so here's the put wall and That is also the key gamma strike at 4,000 and the put wall is the strike with the largest net negative gamma that can be expected to act as support and the Absolute gamma strike or the key gamma strike is the strike with largest absolute gamma And here's the volatility trigger and this is spot gamma's proprietary gamma flip level below that level Market makers position on the gamma curve is negative and they have to trade With price to hedge their delta exposure in a negative gamma environment and then on the other hand Like the current environment market makers position market makers position Above the volatility trigger that is positive gamma So market makers position above the volatility trigger is positive gamma and that means they have to trade against price to hedge their delta exposure So above the volatility trigger Market makers trading tends to subdue volatility and below the volatility trigger it tends to enhance or increase volatility and RJ asked did you set the expected daily move from the open data or the previous day close and this is from the open today? so I took the Expected move for the day At the open at 20 plus or minus 22.5 points and the opening print For spx. I believe it was about 41 29 So those are the numbers that I used for the these blue lines here light blue lines All right, so there's the put wall the volatility trigger. That's very important to understand how market makers Are positioned on the gamma curve and how they may may react and Then here's the call wall at 4200 and That's the strike with the largest net positive gamma and that can be expected to act as resistance So those are the primary daily levels that I follow the put wall the absolute gamma strike the volatility trigger and the call wall Shown on that chart Now let's see what levels are in play for today with a another think or swim chart This is a one-day one-minute chart showing the key levels so here Below is the volatility trigger and note the 41 50 and 41 60 level We're both noted as resistance levels and the spot gamma am founders note and the 41 60 Did act as resistance earlier today and that actually set up a very good short there And in an otherwise bullish day and Then here's the call wall up at 4200 So those are the levels that are in play for today and primarily In focus is the 41 50 and the 41 60 level All right, let's go to book map now and we'll see the same levels I've got two columns of notes here First of all these are the spot gamma cloud notes again These levels are provided to spot gamma subscribers for a variety of platforms And here they are for book map. These are again cloud notes that are updated automatically and sometimes there's a slight difference in the Well, first of all, there is a difference in the price between ES and SPX that varies from day to day and right now it looks like spot gamma is using a 19-point difference and I calculated that as just slightly lower at 18.75 so here is this Resistance level that did act as resistance earlier today and I'm showing it just One tick lower and here's the 41 50 levels. So I'm showing Levels in my cloud notes column here the C levels I'm also showing big ground numbers in ES. There's the ES 41 50 and then finally There's the spy volatility trigger at 411 So those are the levels that are in play for today and note that this spy 41 11 was Support more or less this morning before the market opened and Price has taken off from there All right, so that's the S&P 500 now. Let's take a look at the NASDAQ and Again, one of the key takeaways from this chart is both the ES SPX and spy are both all trading above the volatility triggers SPX above the 41 10 volatility trigger and spy above the 411 volatility trigger All right, let's take a look at NASDAQ now I'm going to take a look at a similar chart for QQQ here. This is again thinkorswim showing the level so to earn play for today and This is the QQQ volatility trigger at 321 and Note now QQQ is trading above that level and NDX the the volatility trigger is Way further down at 1277 75 12775 So in both NDX and QQQ right now are above their volatility triggers All right, so that is QQQ and there's also An NDX level that was in play today and we'll see that on the NASDAQ chart that's this 13,200 that's an large gamma 2 and 2 indicates that it is The the scale of significance for the gamma levels 1 through 5 being the high 1 being the highest 5 being the lowest So it's a fairly important level and it did act as resistance earlier today plus a price target for the setup that I posted in discord this morning this reversal off of the QQQ 319 level that was a hero divergence and There was a second entry point pullback to the 13,000 NQ 13,200 level So the QQQ levels that are in play for today. There's the 320 That is the key gamma strike and again. There's the 321 volatility trigger in the NDX level that 13,200 level and just to note spot gamma is using their same difference between ESPX which is about 18 and a half to 19 points and the NQ NDX difference and that difference is much larger for NQ and NDX right now I have NQ minus NDX at 75 points So that is why Spot gamma is showing this 13,200 level down here and I'm showing it up here, which is the close to the correct level So if we just check Check the price for NDX right now, and it's just right at 13,200 as shown on this chart here So this is the correct level with about a 75 point difference so those are the levels that are in play today the QQQ 319 on The low end and it looks like QQQ 322 on the upper end And then the 320 key gamma strike and the 321 volatility trigger in between All right, so that is the S&P 500 and the NASDAQ Now let's talk about shifts in levels and there were quite a few all bullish So first of all for SPX The volatility trigger did shift higher from 49 yesterday to 4110 today and one thing in note is The volatility trigger for SPX has hovered around 4100 ever since the April April monthly options expiration last week on the 21st so for this week the SPX volatility trigger has really hovered just around 4100 above and below All right, so that's SPX that was the only level that shifted higher and for spy the volatility trigger also shifted higher The call wall shifted higher and then the key gamma strike shifted higher so again all bullish and then finally For QQQ every key daily level that I follow all shifted higher Volatility trigger put wall call wall and key gamma strike all shifted higher So that's very bullish for QQQ All right, let's take a look at The gamma levels now and we'll see where those levels Come from So let's go to and we'll start with SPX What this chart is showing is the absolute gamma levels for SPX and Above the zero line positive gamma or call gamma is shown with the orange bars and Below the zero line negative gamma Or put gamma Is shown with the blue bars And this is market showing market makers position at these strikes So for SPX here Excuse me. Here's the key gamma strike Or absolute gamma strike And that's pretty obvious and that's also the put wall strike with the largest net negative gamma expected to act as support and then Here is the call wall the strike with the largest net positive gamma that can be expected to act as resistance And then those note also the significant significant amount of gamma at the 4100 and the 40 150 level Alright, so that's SPX Let's take a look at spy. I'm gonna zoom in on this so for spy 410 is the key gamma strike And there it is right there that strike with the largest absolute gamma 400 is the put wall Strike with the largest net negative gamma and then the call wall is at 420 Strike with the largest net positive gamma So the floor at 400 and the ceiling at 420 at least for right now and Again, remember the call wall and the key gamma strike all moved up from yesterday All right, I usually have to do a refresh before I look at the Ndx and qqq so I'll go ahead and do that So go to Ndx now All right, so for Ndx there is the 12 975 strike and that's the call wall and the key gamma strike And it's really the only strike that is seriously in play for Ndx Note also there is somewhat of a build of gamma at the 13,000 level And also at the 13,200 and again, this is where Ndx is trading currently around that level Well, let's take a look at qqq going to zoom in on this chart So first of all for qqq now the put wall is at 318 Strike with the largest net negative gamma and here's the key gamma strike at 320 and Then the call wall oops Up at 330 so that was a pretty significant move higher In the put wall from 310 to 318 as well as the call wall from 320 to 330 And one other thing to point out See if I can find it Spot gamma made a note of this this morning in the AM founders note Noting the see if I can zoom in on this So what this chart is showing is volume traded. This is from yesterday in the with the white bars and then the open interest change with the blue bars and what they were pointing out is the small amount of Open interest Versus volume at the 320 level and then a little bit of a build an open interest at the 330 level Shown by the blue bar and they were indicating that there was this was indicating a roll From the 320 level to the 330 level Which is bullish longer term bullish All right, let's take a look at one other thing now and I'm gonna go back to SPX Take a look at the Vanna model and this is for today and this chart looks has shifted back to the way it looked in Past days or last week, you know the last but really all the month of April where The spot gamma gamma index has been positive Market makers position on the gamma curve has been positive for most of the month of April So what this chart is showing is? How market makers delta notional and I'm talking about the light gray curve here delta notional Changes with changes in price that shown on the horizontal axis and delta notional shown on the vertical axis So this is showing me that as price increases Market makers delta notional increases and they have to sell futures as price increases to hedge their delta exposure And that's typical of a positive gamma environment and then the Pink purple line is showing how market makers delta notional changes With changes in price and implied volatility and that's the Vanna effect All right, let's let's compare how this has changed From the last couple of days. So remember yesterday and the day before on The 26th and the 27th at the beginning of the day Market makers Position on the gamma curve was negative the SGI Spot gamma gamma index was negative So I'm going to look at yesterday now and note the shift in curve in the curve this is really indicating more that as price increased and Implied volatility increased Market makers would have to sell futures to hedge their delta exposure So that's the 27th and there's the 26 So from the 26 negative gamma position 27th negative gamma position and today Their gamma position shifts back to positive and The Banna model shifts back to the way it has been For again most of the month of April Well, let's take a quick look at the data And as I mentioned before I'm going to focus on The spot gamma gamma index since it's been consistent for quite a amount of some time This is a proprietary and index and it's a measurement of the total gamma total amount of market gamma and a positive number indicates market makers position is positive and That tends to subdue volatility as I've mentioned before since they're trading against price to hedge their delta exposure All right, so given all this my thesis for the day was bullish based on the increase in the Key daily levels primarily for spy and qqq and then also looking for Lower volatility and a smaller trading range today All right, let's take a look at some setups now and first I'm going to go to spot gamma hero and This is the for those of you who may not be familiar with this chart This is hero hedging impact of real-time options and RJ. I'm going to have to take a look at Your question later. I'm trying to watch two chats and talk about a lot of stuff at the same time All right, so this is the hero indicator from spot gamma What I'm looking at here is the total signal for S the SB 500. This is showing the combined signal for SPX spy Xsp and ES futures and Xsp is not significant. So this is showing Just SPX spy and ES futures The purple line or the white line is showing price and this looks like it's in terms of SPX and Then the purple line is showing options trades for all of those instruments combined into one signal and the market maker hedging activity so that is the combined signal and let's just take a look at the Individual components of this and then we'll focus on this chart So first we'll start with SPX and let's we'll note right now This notional value is minus 240 million is shifting pretty quickly minus 220 million so shifting Less negative. All right, so that's the total signal And let's take a look at First of all SPX at minus 396 million Then we'll take a look at spy minus 1.5 billion and then ES futures and this is a Recent addition to this signal and it looks like it's providing pretty significant value To that total signal. So there for ES futures This is a positive value market traders are Selling puts and or buying calls. So the total signal Is what we'll look at So I'm going to zoom in on this chart and we'll look at a couple of setups So first of all in the morning This hero signal was confirming along from the open Looks like there was a dip in the hero signal but overall Heading up and I just usually look at the general trend of hero so heading up Confirming the long as price approached that 4160 SPX 4160 level Let's just see what traders were doing. I'm going to separate outputs and calls So they were buying calls from the open this provides more clarity So from the open Traders were buying calls Net and it looks like that was mostly ES futures. All right, let's go back and take a look at book map now Start at the open here I'm going to go till about 11 o'clock So there's the bullish setup. There were a couple of pullbacks the first one to the 4150 level again as traders net net were buying calls Another pullback just right after the 10 a.m. Consumer sentiment data Right back to the point of control. That is the purple line That increases with that large volume dot there And note the bullish order flow shown by this rising dark blue line and also the green volume dots showing market buy orders and note how as price approaches this 4160 level cumulative volume Delta levels off and actually drops a bit here even as price was making what appears to be in close to an equal high in this setup a great Short actually wrong tool. Let me get the rectangle Setting up the short right here This double top at the 4160 level. So first of all, we have a long confirmed by traders buying calls in the SMB 500 Kimla to volume Delta rising market buy orders and Also, note the rising yellow line there the move higher was fueled by buy-stop orders And that usually takes a little while to Get going and then one thing to note for the next setup which which was a short is that larger traders Were fading the move Shown by this falling light blue line. That's iceberg orders orders that larger traders used to hide their size And that's pretty typical. They were larger traders will Sell strength and buy weakness All right, so the first set up along that I just talked about confirmed by Kimla to volume Delta confirmed by hedging flow order flow and also Buy stop orders fueling the move higher. All right, let's take a look. Let's go back to hero now And I'm just going to scroll a little bit But I got rid of that Scroll a little bit. So again, remember that CVD made a divergence lower even as price made just about an equal high larger traders have been selling and then finally We'll go take a look at hero come back to the total signal and note the divergence and Hero here so hero starts making lower highs and then Makes a significantly lower high and Then price follows so even though I was bullish for the day. This was too much to resist. I Really like these divergent setups So there was a short a Long confirmation short divergent setup Then a confirmation long around 11 a.m. Eastern time and Hero provided good signals for the first long the divergent short and this confirmation long All right, let's see where let's go back to ES now. Take a look the whole day, right? So now price again, here's this Reversal higher Again right at point of control at about 11 a.m. As traders were taking positive Delta positions and This continues to be fueled higher By buy-stop orders and then order note that the cumulative volume Delta Shifts higher again around 11 a.m. And you can see for this reversal lower The pink volume dots aggressive sellers coming in and Then as price reverses higher the green volume dots aggressive buyers coming in So confirmation long divergent short and then confirmation long again All right, so that's the S&P 500 and let's take a look at Nasdaq now All right, so let me take a look at look at discord and Jec says really interesting shift in S&P spy the last few minutes as we shift to a total negative signal For first time this morning. So let's take a look We'll go back and take a look at this At hero and again remember we're on the total signal here So and now it has shifted back to positive for the day So I think Jec was talking about the negative signal maybe down You know down around here. So the shift. Let's see if we can find this. So here's the zero line right here's the zero line for For a hero for the combined signal so right yeah right around Just before between 13 150 and 2 p.m. Eastern time so right now the signal is hovering around zero All right, let's take a look now RJ wants to take a look at SPX So we'll go back and take a look at SPX So SPX was more bearish remember we saw that ES ES futures was very positive last time we looked at was positive 1.6 billion the notion of value. So SPX Negative and note the divergence short At 41 60 was even more clear just looking at SPX so total is negative for SPX Well, let's take a look at the NASDAQ now And if we have time at the end we'll come back and take a closer look at the SMB 500 and see what the zero DTE traders are doing So first I want to look at qqq and I'm going to zoom in on this So this is what I was looking at in the morning And let me just see what I so this is This is about what I posted in And discord this morning that set up this nice long from 319 so here is the qqq 319 and the reversal long at that level as He-roller is rising so there's the Divergence long For either in Q or qqq So I'll talk about Set-ups that you could have taken for both So first of all, let's take a look at book map and we'll go to in Q So here's the setup and in Q And it takes a little while for order flow to catch up and this actually moved a bit higher than I thought it would So there's the reversal higher at 319 No, there is a shift in order flow Sometimes not quite as clear as the shift in the ES But note the pink dots Pink volume dots on the way down And then aggressive buyers start to come in with the green volume dots and then there was a Pull back another alternate entry second entry at around the 13,200 level in Q 13,200 level And at that point the buy-stop orders Help to feel the move higher up to the 321 level Here's the This is the qqq volatility trigger at 321 and then the 13,000 NDX 13,200 level and then also almost to the qqq 322 and the NQ 3 13,300 So there was a again. This is the setup that I posted in Discord and this was a really good level to lean against Always like to see a level in play and it was the these qqq levels were definitely in play And note also this the qqq 320 initially acted as resistance All right, so that was one way to take that trade and that was the first trade in And The Nasdaq and let's take a look at one other thing. I'm gonna go to think or swim so another way to Enter this trade was just to buy a qqq call And it was pretty cheap 72 cents there's the long call You just zoom in on this a little bit more and just kind of an easy set it and forget it Set up so right now If I'd held on to it The profit would be a hundred and seventy nine dollars so more than double your money And there it is taking profits at the the top of the range And the profit one seventy two again double More than doubling your Investment there your trade All right, so that was a couple ways to trade that With futures or you could trade qqq shares or this qqq call and This is a zero DTE call that expires today All right, let's take a look now at The next setup of the Nasdaq go back to hero and there's a divergent short At around ten thirty Let's go back to NQ now and that was the time to take Take profits and you're in the call All right, let's go back to book map now so here's the The short setup note the shift in order flow here note both the Cumulative volume Delta starts falling and also sell stop orders shown by the yellow line Start firing off moving helping to feel the move higher as traders were taking negative Delta positions And if you miss this first entry right here at this 13200 level in DX a secondary entry at the QQQ 321 level and let's see what we See if there was any confirmation for a long setup This is as much as I wrote down. So let's take a look at at hero for the day and not really much so those are the two setups if you're just using hero as a Confirmation or a divergence so the confirmation to actually diverge it's long in the morning and diverge it short After that and that was enough for me to get data along with the short and the S&P 500 that I showed All right, I've got a few minutes left and as you can tell I have I'm really focusing more on futures. So I hope that's okay This is how I'm kind of managing my time In the morning is just really focusing on the futures plus I'm seeing great signals both in book map the order flow as well as hedging flow That provide great setups So let's do take it we'll take a few minutes and look at stocks So Apple there was a divergent short not much not as clear as the Indices but Divergent short maybe more of a confirmation short Actually, if we we zoom in a little bit we can see that Hero started making lower highs before price did so let's go take a look at book map for Apple and Note that 170 is the call wall and the key gamma strike and And price did not quite make it up there and note the high liquidity at that level for those of you who may not be familiar with Book map. This is resting liquidity. These are Cell limit orders Often act as a magnet for price, but in this case price reverse lower before As traders were taking negative delta positions. All right, the next is Google and for Google I noted a confirmation short And this was from this morning and that was just First thing in the morning, then a pretty choppy signal after that so up until about 10 10 15 Confirming the short took a quick look at book map So there's Google and the next Metta and let's go take a look at Hero again here's meta and And strong confirmation for short in the morning then long in the afternoon so this set up a good this was a good short set up in the morning and Note the I've separated out the puts and calls and note both traders were selling calls and buying puts shown by the falling the falling orange line shows Shows that traders were selling calls the falling blue line shows that they were buying puts and Keep in mind that meta was up significantly this week Traders are buying calls. Let's take a look at something else. I'm gonna go to meta So this is every Friday. I look at this Look for potential call gamma unwinds and note that I have sorted this list by next expiry gamma percent and Note, this is today So this is showing for meta and I really I have snow on my watch list I don't really don't trade it or follow it. So met us the second on the list with 35 percent of gamma expiring today and let's take a look at the Composite view chart for meta and notice it is call dominated So in the region of the price that's trading now this green color indicates call domination and These calls 35% and that's a lot of gamma expiring today and those calls will quickly lose value During the week when traders buy calls market makers sell the calls they have to buy They have to buy stock to hedge their delta exposure Then due to charm the change in delta as time passes Those calls start to lose value quickly especially on expiration today, which is today and market makers can Can sell their long stock edges and especially if traders are selling their calls. They're taking profits as well Which was what was happening this morning? Let's go back and take a look at hero. So in the morning, this was pretty expected This price drop And let's just see the 240 level The 240 level it was the call is the call wall and the key gamma strike So the call wall acted as resistance as expected So for meta That was a pretty predictable short Call gamma unwind As traders were selling calls and price reverses At the 240 call wall level And now it's headed back up price traders started buying calls again. They couldn't Couldn't get enough. So they started buying calls again And price is now heading back up to that 240 call wall key gamma strike All right. So hector ask What factors do you consider to operate on an options market versus futures? I'm not sure I understand your question. Are you asking about Whether you would trade that and did the nasdaq set up that I showed whether It's better or whether you could trade QQQ options or nasdaq futures So not necessarily. So here's Here's the way I think about it And this is kind of personal for me. I tend to Um Maybe over manage futures trades. I want to I want to get in and Get to auto break even very quickly take profits on on one One contract get to break even and then hit a profit target pretty quickly. So I tend to Often take profits a little bit too quickly on futures But with an options trade you can just like I said set it and forget it the there's no No stop order It's a defined risk trade And you have to be willing to Let price move around So that that was based on my decision. So And you could trade both Seeing the setup go take the Um You know take take both of them, you know true trading platforms and your trading platform get long Get to auto break even then then buy a call and you're you're Taking advantage of that Initial setup in futures and maybe you can take profits get back in As as well as hold your long call for a longer period of time So it's more a personal trade management kind of thing Right. So that's meta And let's take a look at Nvidia We'll go take a look at hero Actually, we'll take a look at microsoft microsoft confirmation long and short Let's take a quick look here at microsoft also call diamond Combinated dot call dominated Above the 305 level not as much gamma expiring today about 25 percent Let's go actually let's go back to hero and see what traders are doing So they're selling calls And buying puts Notion of value negative for both So another called Call gamma unwind Here's Nvidia And confirmation long Right around 10 a.m Go take a look at book map. So there's Nvidia Confirmation long took a while to get going. This is pretty typical of Nvidia is that it does chop around Often for the first 30 45 minutes And let's take a look at tesla Long setup today in tesla Go take a look at hero for tesla And not quite a stronger correlation between hero and Price action after Maybe around 10 30 as usual in in tesla. Let's just see what traders are doing So net they are Selling puts and buying calls All right, let's do a quick check on the Indices So here's the smp 500 And net notional value here for all the spx spy and es futures Is slightly positive 72 million And quickly moving around now 95 million And note how price is leveled off As hero has Also leveled off and starts Starting to move lower price as Leveled off Let's take a look at book map and then we'll we'll call it a go back to the sp 500 All right, so now price is trading below just below the 41 60 uh resistance level As heroes started to move down Take a look at nasdaq And price is chopping just right around the 13200 level in dx All right, that's all I have I want to thank you for watching. Thanks for your questions and comments Everybody have a great weekend and I will see you on monday. Thanks again. Bye


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there's a huge invasion of cold brew coffee beverages on the market in 15 million different varieties they're spike they're this and that are they any good should you should you join the club or should you kind of look the other way hey there njrude22.com here with another topical vlog and this is about the cold brew beverages they're all over the place we were over at Whole Foods recently and there was this entire refrigerator case filled with a whole lot of different kinds of cold brew coffees and i bought one because i was kind of thirsty i might drink in the car had been finished and i got this nitro beverage company cold brew they had a plain one unsweetened and another one made with coconut the essence of coconut coconut water and so on i bought the coconut one they're a local company out of asbury park so it felt good to support your local local businesses but i drank it quickly and you know nitro has gives it that flavor you know just for reference i actually like the starbucks nitro coffee and i feel fine drinking it but this particular nitro beverage company i don't know what they put in it they claim it's perfectly no additives or anything but i felt like crap after drinking i felt again like something had gone wrong maybe it was the coconut maybe it was a bad batch but i did not feel good after drinking this particular canned beverage so i i and another thing about these cold brews and all these you know fancy artisan beverages is that they're extremely expensive and these were on sale for four dollars a can imagine if coca-cola or water was four dollars a can if you're not at a baseball stadium it's an expensive habit to entertain and you're going to laugh but i drink the cheapest instant coffee you can get it's two dollars and ninety five cents for 120 cups and i get it over at aldi aldi sorry aldi and it's uh it's really good coffee i don't feel like crap after drinking it and i just somehow think these these these new healthy or trendy uh companies are just not not good i think it's a bad habit to get into and there's literally a hundred different brands of this new nitro or cold brew coffee and small batches and this and that it's an expensive habit you know i like i said i can drink 120 cups of coffee for less than the price of one can of this stuff and i think you're just better off finding a finding an alternative to it i mean at the very worst you go go to starbucks and they'll freshly brew your coffee there on the spot um instead of something has to sit in a can for weeks or months so i that's it i i'm not i'm not on the on board with the with the nitro cold brew coffees in a can sold at delis and supermarkets what are your thoughts have a nice weekend


Rumble loss of down pretty horrible name. You start on first in 20 You get three attempts at a first down a first down gets you two points I assume a touchdowns regular points, and you instantly win with an interception. Okay, whatever So people are gonna be running the ball up. Can we just talk about this though 130 total wins to get a random 90-91 player Bruh, I virtually play this game for a living at this point, and I am looking at 130 total wins Like a boy. What does EA think I don't have a life? Let's just say one game takes ten minutes. Why do I ten minutes by a hundred and thirty? It's a thousand three hundred minutes. Divide that by sixty That's twenty-one. That's about twenty-one and a half hours. Twenty-one and a half hours?  It's the fourth quarter. I was in the fourth quarter.  That's two points, right? Yeah, two points for the first.   If not, I could totally take a field goal I'll pretty much secure the epic victory Royale if I get a field goal. All right, we're gonna see the block set off that's big Leveon gets kind of throttled there. I wasn't expecting that but I'll just take a field goal. What a weird way to win this game But I think this should work Hold down a let this clock chew out a little bit I'm gonna blitz hard with Tillman.  He ain't gonna win the game like that Especially with this clock ticket now we hit him now we sack him now we sack him now we sack him Didn't get to him and that's not good because Portis is out in the open field huge tackle Janavious white he only gets two points though. He basically he really needs a touchdown. This could be a pinch. No, it's oh My god, where's my defense?  Oh my god That was so weird. I must have accidentally played like press coverage or underneath. I did not mean to oh, he's running it Oh, yeah. Oh, yeah. Oh, he's not He throws it contested.  So I need two first downs One first down won't win me this second and 18. I'm getting ballsy We're gonna loft some deep ones take our first downs win this game. Oh Lamar Lamar you got to get all the way there Doesn't get all the way there 20 seconds left. That's a timeout got to get the first down here It's third and four. He's gonna QB spy me too for sure Lamar can get it Lamar can get it so fast. Let's go. That's two points seven to eight 14 seconds left. I got this. I know I got this first in 20.  No, no, you're gonna spike it. You're gonna spike it Okay, good work four seconds left. I got to get 27 yards Tyree it's my only chance here pretty much. I think he's there. Oh my god.  I should have lost that that was bogus that two-point conversion He got was whack. Let's look for a safety, but I might be able to just floater him. Oh, what the what was that? He's got four points now. He's gonna stretch around this. We are like a thousand percent sure. Oh, wow No, it's very predictable. You're looking at that deep hole Kevin green I was losing four to zero. We just got it up. I love to see that We're strong play a fake spike one of the all-time greats and that's why Okay, I'll be totally honest. I didn't know what play I had clicked I audibled because I was lazy and we got 15 yards out of it.  I need Lana Lana next best American record next best American Yes, now I know this pitch plays gonna go for a lot.  Come on, Andrew. Look. Let's see a big guy.  He's gonna throw here. He's gonna throw here.  Can someone help me check my vibe on this play. Oh, it's a run damn I that was not the vibe. I saw She so we're press covering now. Is that what we're doing?  That was a terrible ball.  Shit.  I was on the I was on the way to an easy dog Great downfield blocking I'm just gonna take the first time Technically if I take those two first downs and then get the touchdown It would actually be the most efficient way to do this Tyree kill touchdown. I'd be up by I'd be up by two Let's see if it's there. Okay, it's there again. Just need a better ball. Oh, it's not there All right, let's see what we got here. Ooh, I see a wide open Tyree kill. I'll take those yards. Is there a QB spy? Yes, there is Do I care?  Oh, are you gonna pass it? I dare you pass it.  I love it. Easy though When the powder blue Chargers Russell Wilson at QB Melvin Gordon at half-back Easy. All right boys second and 23. I like how we're starting on here. He's definitely got a deep pass I'll blitz I'll blitz Kalomak and Kevin Green both edge rush machines Let's see how it goes pick game I like this game mode, you know, it's weird This is an only in the 88 overall Pet Tillman, but I think he's had every single game ending interception 20 we're gonna start out in a basic slant and Get sacked. Okay. My all-time favorite is just to put your half-pack on a little curl route And then use your playmaker them up the field somewhere. All right, you guys ready? It's gonna work especially if I send everybody first.  It's time for a little peak zone All right, let's fake him out fake him out. Yup. Wait, what I skip flag for oh my god I think I just got dude.  It's not even a thing All right, I'm taking off with Lamar That honestly got me solid yardage and I have one more place. So that's actually pretty good third and 12 I think that Dallas Clark route might work. I've never tried doing that before.  I win this game Oh, it's actually pretty cool. It's a little unfair for who gets the ball though. I would definitely say hat back Wham We're gonna take our field goal make a seven to zero and He basically needs a touchdown to win this. Let's play some defense. He's got a pass He's got he's got to get down the field. So he is passing He looks underneath. He's got to get out of bounds. He doesn't get out of bounds only for five yards that clock is ticking All right play action handoff. I got a poster out here. I got something coming left. Oh good throw He's in bounds. He's got two points for that. He gets a touchdown now. He wins, but that's his last time out All right, he might be looking on that right side I'm gonna hold the left side. Let's see what he goes to That's kind of there Again, dude, who is Pat Tillman and why is this guy on Roy's? Who is he? Who's Pat Tillman?   I'm going with the frustration hurry up offense See if I can float a slant and I can't I don't know what's open. I'm throwing it to RB Anger him. He's kind of there. Did I get a yard? I got one yard I don't want to brag but I did get a whole yard on that play But I get weird with it and I am gonna run quick slants and I am gonna Stand in the pocket and deliver a 17-yard pass. Are you guys ready for this? I'm gonna do it It's just left or I just gotta watch where his user goes go to the other side So he's looking on B. So I'm gonna go to X Well, at least I didn't get picked off third and 26. Let's see what he goes with play action PA crossers We know this play. That's a pick. That's game. Oh We didn't pick it off. That would have been real nice. I'm an RPO peaks on it to Bell I think he's on the free safety. So I should be good. Oh, no He sees it, but we still get it off not a great block. What a great juke. That's four yards Okay, keep your spies on me He's not gonna get open But look at that the playmaker in the middle of the field is gonna grab us two points clock is chewing And we're in the middle of the field nice Now we hand it off to Nick Chubb because he is gonna be all over this levy on belt We're gonna hand it off to Nick Chubb and hope those blocks hold up. There he goes. There he goes Nick Chubb. I Had that block for a second, but we lost it. He might be in pinch dog right now So I might be able to hit tiger kill early.  He just came out of it Hey, hey, he's open. No, that's my first L to an interception I had the lead to See that that guy coming off the left side. This is a little cheeser blitz. I've seen it a million times Right up the middle Wow, we got some fat yardage on that I need Dallas Clark to block tree or no He'll block the detackle. So I don't know who's gonna block Palomalu, but hopefully they do it. Okay. Nice second level Should get another two points here if these blocks hold up as I hope they should Oh Beautiful gotta swerve this man. See ya. See ya. Oh, that should be 11 point I should have 10 right now than the BAT's 11. Wait, wait, wait. Why did I only get six for that? And I missed my BAT But why did I only get six for that because that didn't shouldn't I have gotten two points for the first down and the touchdown? I guess I don't really know how this works All right, I'm coming straight for the QB myself. Come here Pat my homes. That's a beautiful thing I'm gonna do it again. Come here. Ah, he gets the ball out as long as Cal who's check doesn't juke me out I'll be good. All right, that puts him at a third and 20 this should be easy for the boys Got a corner out in a post that post might be open got the sack Callil Mack that was clutch that that post out might have gotten open and he's gonna rage quit Perfect game to end on. Ooh, that feels good. All right, ladies and gentlemen, this house rules has been fun It looks like they're gonna have a different house rules too in like 72 hours because it says any rumble event I don't know what rumble event is but any rumble event counts towards your win total So hopefully that's good for us. Thank you. I'll see you guys. I'll see you in the next video. Peace out