Hello, everyone. Welcome to Options with Doug, streaming live daily on Bookmap Discord and the Bookmap YouTube channel at 1.30 p.m. Eastern Time. Before I get started, I need to go through the disclosures. General disclosure, all Bookmap 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 involves substantial risk of loss and is not suitable for all investors. Pass 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 option stash Doug chat channel that's a great place to post questions, comment, and content related to the topics of the channel, which I'll go through in just a moment. And note that Bookmap Discord is free and open to everyone whether you subscribe to Bookmap or not. And I'm also on X, formerly known as Twitter. My name there is at Doug Plus. The focus of my presentation today and the focus of the options stash Doug chat channel is options order flow, the impact of options markets on stocks and futures, and the influence of market maker hedging flow on price action. I have a two-step process for trading in 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 the directional bias. And the second step on my process is execution. And I look at real-time order flow in Bookmap and real-time market maker hedging flow in Spot Gamma Hero to confirm my thesis and for setups for entries and exits. And when I talk about setups today, I will be talking about an underlying asset and setups can be taken any number of ways. For example, the S&P 500 setups can be taken with futures, shares, spy shares, spy options, or SPX options or even ES options. Questions and comments are welcome. And I will be watching both the options-dog chat channel and Discord, as well as the chat and YouTube for your questions and comments. So please feel free to post and I'll do my best to answer your questions. All right, here's my agenda for today. Here's what I plan to cover. I'm going to go over news items, economic data and events for today and the rest of the week. Then I'll go through my positional analysis. Then I'll review some setups from this morning. And then I'll take a look of the live market. And if anyone has any stocks they want me to take a look at when I get to the live market, please let me know and I'll be glad to do that. All right, economic data, jobless claims did come out this morning. And then tomorrow is the big event for the week, economic event for the week. It is the jobs report that comes out at the first Friday of the month at 8.30 a.m. Eastern time. So we'll be looking for the jobs report tomorrow morning, potentially a big market mover and we'll talk about it tomorrow afternoon. All right, let's get started with positional analysis now. I'm going to start with the ESB 500. This is the ES Futures in Bookmap. And before I take a closer look at this chart, I'm going to look at a larger time frame. I'm going to start with SPX. This is the SPX in a 30-day one-hour chart. I have highlighted here the September 15th expiration. That's the Friday of the expiration. That was a call dominated expiration. And since then the ESB 500 is trended down and may be finding support right now above the 4200 putwall level. All right, I'll talk about the levels now. So first of all, here is the dash purple lines showing the lower and upper weekly expected move. That's based on the options market indicating a one standard deviation move for the week. SPX should trade within that range 68% of the time according to the options market. All right, so that's the lower and upper weekly expected move and the lower weekly expected move was in play for today. Then the dash blue lines are showing the lower and upper daily expected move. Again, based on the options market, these change every day. All right, so those are the expected moves for the week and for the day. The dark red horizontal lines are showing SPOT gamma proprietary gamma levels. These are based on gamma weighted open interest. These are available to SPOT gamma subscribers. I'm going to point out the key daily levels. First of all, here's the 4200 level. That is the putwall. That's the strike with largest net negative gamma that can be expected to act as support. Then above that is the 4300 level and that is the absolute gamma strike. That's the strike with the largest absolute positive and negative gamma and note that level did move up from yesterday. It was kind of at a strange level at 4000 which was below the putwall, which is very unusual for SPX. That does occur in stocks sometimes, but pretty unusual for SPX. I don't think I've ever seen that. So anyway, the absolute gamma strike is back up to 4300 above the putwall and 4300 is also the volatility trigger and that is SPOT gamma's proprietary gamma flip level. Below that level, market makers position on the gamma curve is negative. In a negative gamma environment, market makers have to trade with price and that tends to enhance or increase volatility. So 4300 very important level volatility trigger and absolute gamma strike and then the call wall remains at 4450. That's the strike with largest net positive gamma and that can be expected to act as resistance. So 4200, the potential floor, 4450, the potential ceiling with the most amount of gamma concentrated at the 4300 level. All right, let's take a look at one more SPX chart. This is the SPX in a one day one minute chart. The lower daily expected move has definitely been in play for today, acting as support except for one brief excursion below. Then this combo L3 level did act as resistance earlier today. That was a set up for a nice short and now it looks like price is trading up above that level. I'm going to clear this. So here's the lower weekly expected move. So it looks like SPX today did not trade down down that far. It found support at the lower daily expected move. There's the lower weekly expected move and the lower daily expected move. All right, let's take a look at book map now. In book map I have my own cloud notes. I'm showing a variety of levels here. First of all I'm showing spy levels on this chart and let me just check something. All right, so here's the spy 425 level that did act as resistance right at the open. And before that, this SPX 4268 level noted as resistance in the spot gamma founders note did act as resistance just after 8am Eastern time. Then the 425 level, that's the absolute gamma strike and spy did act as resistance. Then here's this 4251 combo three level combining spy and SPX gamma into one level and the 4250 level is just below that acted as resistance. And now it looks like price is broken through that level. Oh, that's the 424 acting as resistance. I'm sorry. There's the 4251 level acting as resistance. And note that the ES did trade right down to its lower weekly expected move, which is going to be a little bit different than the SPX lower weekly expected move. Note also the spy 422 level and play acting as support. So the spy round number levels have been important today. All right, so I have SPX levels spy levels as well as the expected moves on this chart. Note there is a difference in price between ES and SPX. And right now it is about 33 points. That's what I use today. So for example, SPX shown here at 4250 is actually at 4283 for ES and also the spy to ES ratio changes a little bit every day as time passes toward the next roll over date, the contract expiration, that number will trend toward 10.0. So right now today, I'm using 10.11. All right, so those are levels of play for today, both SPX and spy levels very important today. We'll talk about setups in a few minutes. So shifts in levels, I talked about the absolute gamma strike for SPX moved higher. The spy absolute gamma strike also moved higher on 420 to 425. So those shifts higher in the absolute gamma strikes for SPX and spy, I interpret that as bullish. And then for SPX and spy, the volatility triggers both shifted lower. And also for spy, the call wall shifted lower back down to 432. So kind of a mixed picture for the spot gamma levels, the key daily levels for the SME 500 volatility triggers and spy call wall moving lower and absolute gamma strikes for both moving higher. Let's take a look at NASDAQ now. And NASDAQ has been a very good play from QQQ 360 to 355. So let's take a look at that on a QQQ chart so we can just isolate the QQQ levels. So 360 for QQQ is a very important level that is the absolute gamma strike as well as the volatility trigger. And that level did act as resistance right at the cash open just a few minutes later. And then price traded all the way down pretty quickly down to this 355 level which is an L3 level. So that's in the middle of the range of one being the most important to five being the least important. And also a combo level that combines QQQ and NDX gamma into one level. Gamma weighted open interest. And I'll show a trade in a few minutes when we get to setups looking at either a long call or a call spread at this 355 level. All right so those are the QQQ levels in play for today. Again first of all nice short from 360 to 355. And I believe that was confirmed by options traders. Again we'll take a look at setups. And then now 355 acting as support and QQQ is looks like it may be heading back up to the 360 level. All right so that's QQQ. Again round number levels, gamma levels are very important today. Let's just take a look at NDX for completeness. Here's NDX combo level right at the 360 level, the QQQ 360 level. And this combo L4 level just below the 355 level. All right let's go to book map to the NQ futures. Again I have moan cloud notes. I'm showing QQQ levels. There's the 360 level, very important level for QQQ acting as resistance. Then here's this 355 and that combo level that acted as support. QQ NASDAQ did trade below its lower daily expected move and is now back above that level. All right so again the most important levels today were the QQQ 360 and 355. And again 360 is the absolute gamma strike for QQQ and that level did move higher from 350 yesterday to 360 today. I interpret that as slightly bullish. So the absolute gamma strike shifted higher for SPX, SPY and QQQ. All right so for the NASDAQ that shift higher in the absolute gamma strike for QQQ was the only shift. All right let's take a look at again we'll take a look at setups in a few minutes. 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. And this will give us an indication of how market makers may react with changes in price and implied volatility. We'll take a look at it and we'll also look at the Vana model to see that. So what I'm going to take a look at first is gamma notional to see how market makers were positioned on the gamma curve at the beginning of the day. I'm looking at gamma notional for SPX, SPY and QQQ. Gamma notional for NDX is typically not significant. All right so market makers position on the gamma curve at the beginning of the day was negative for all these indices minus 2.076 billion for SPY that is less negative than yesterday but still very negative. So all these are negative indicating traders are long puts, market makers are short puts and they have to trade with price to hedge their delta exposure in a negative gamma environment. Now all these levels did shift higher less negative than yesterday but still quite negative. Well let's take a look at the Vana model to give us a visual representation of what I'm talking about. I'm going to start with the SPX. What this chart is showing is market makers delta notional on the vertical axis and price on the horizontal axis. There are two curves on this chart. The light gray curve is showing how market makers delta notional changes with changes in price only and then the purple curve adds implied volatility to the equation. That's showing how market makers delta notional changes with changes in price and implied volatility and that change in delta with the change in implied volatility is the Vana effect. Vana is the second order of Greek. So remember market makers always want to remain delta neutral so as price in this case looking at this chart as price decreases implied volatility increases market makers have to sell futures to hedge their delta exposure. On the other hand if price increases shown here market makers can buy back their short futures that's a put van rally and that can fuel a powerful rally if price gets going implied volatility starts dropping these puts. Market makers are short puts those puts quickly lose value and they can buy back their short futures. Alright let's take a look at prices now so for the lower the day for SPX lower the day was 42.26 so that's somewhere between these two lines. So what this showing as price was dropping market makers had to sell futures. Then when price started to increase from that level market makers can buy back short futures and that can fuel again fuel a powerful rally as market makers are trading in the direction of price buying back short futures. Alright so again the low of the day for SPX right around here. Alright let's take a look at spy so for spy the low of the day was right around 421 so that's right around here again on the very steep portion of this curve indicating market makers will need to aggressively hedge in both directions and then finally QQQ QQQ low of the day again 355 we looked at that right around there so again on the very steep portion of the Vanna curve here indicating market makers will aggressively have to hedge in both directions and all these curves are very the very steep skew to the left is typical of a very negative gamma environment. Alright let me check for questions DNT matter says hey Doug hello your ES upper and lower daily expected move is different from SPX ES and I give precedent to the SPX levels always so for SPX I use the options chain and for ES I use the options chain so no I do not convert the SPX daily expected move to ES that maybe I could this is just the way I started doing this so you know it is going to be a little bit different because of the trading hours and and things like that so again I always give precedent to the SPX ES is just a derivative of SPX. Alright let's take a look at some setups down I'm going to start with the SP500 what this chart is showing this is the hero signal this is available to spot gamma subscribers this chart is showing the price with the white line for SPX and the hero signal HIRO hedging impact real-time options for a combined signal for SPX by XSP and ES futures so if you trade any form of the SP500 this is the signal that you want to take a look at alright let's zoom in on this chart so the hero signal again is showing options trades and market maker hedging activity for that combined signal a rising line indicates traders are taking positive delta positions market makers are taking the opposite side so they have to buy futures to hedge their delta exposure then a falling line is negative delta indicating trade traders are taking negative delta positions again market makers taking the opposite side of that trade and they have to sell futures to hedge their delta exposure and they are market makers are hedging options trades and all these instruments with ES futures that's the most efficient way for them to hedge all right let's take a look at a closer signal a closer look at this chart I want to focus on first of all a short setup in the morning here right around 10 30 traders started taking negative delta positions that was right at that cluster of levels the 42 50 and 51 here's the 42 50 right here so 42 50 42 51 options traders started taking negative delta positions and that was a great setup for short so let's go take a look at book map now and we'll take a look at the information that the order flow that confirmed that setup let's go back to the SB 500 and you're welcome D&T matter all right so let's zoom in all right so right around 10 30 just a little bit before we know that options traders were taking negative delta positions market makers were selling futures and I look at any of these spot gamma levels as potential resistance if tested from below or potential support if tested from above in this case this these two levels 42 50 and 51 did act as resistance and every time price reaches that level aggressive sellers start to come in that shown by the magenta volume dots there the volume dots those are delta showing market buy minus sell a green dot indicates there are more buyers than sellers a magenta dot indicates more sellers than buyers so every time prices reaches up to that level aggressive sellers come in and after the third test the buyers are exhausted and price moves sharply lower down to the lower weekly expected move toward the lower daily expected move and a good entry point there would have been this last lower high or the break of this little trend line right at 423 spy 423 and you can just see all of the aggressive sellers in there so we know that and once this got going it was fueled by sell stop orders shown by the small red dots also shown by the falling yellow line this pink line is showing cumulative volume delta dropping sharply and then the light blue line is showing large traders selling with iceberg orders this is a pretty small number 122 contracts and this actually indicates it might have been canceled but the this line is showing that there were sell iceberg orders there all right so we know that traders were taking negative delta positions price broke below this level aggressive sellers came in so good for a short setup in the sb 500 all right so looking at it the big picture there this was the this was the setup down to the lower weekly expected move price consolidated for quite a bit started moving higher and in this case both the iceberg line is rising as well as the cvd line showing more aggressive buyers coming in price does a retest of 422 and is now moving higher let's see what options traders are doing right now let's go back to hero all right 1110 let's just take a quick look so 1110 there's that low then price smart starts to make a series of higher lows does retest of 420 422 and then really makes the sharp move higher let's go back to hero all right you can see that this the shift in in hero here that one move then a retest traders start taking negative delta positions then right around 110 started aggressively taking positive delta positions again let's just slice and dice this a little bit let's take a look first of all puts and calls and see what traders are doing so traders are buying calls and buying puts that's pretty typical for the sb 500 calls shown by the rising orange line also the positive notional value here three billion all right i um i did report this problem to uh to spot gamma so far they have not been able to recreate it i'm not sure what is causing it all right so we know traders are buying calls they're also buying puts shown by the following blue line the negative notional value here but the call buyers are more aggressive than the put buyers today let's go back and take a look the total signal then let's just check and see what zero dte traders are doing so there's a very strong correlation between the zero dte traders shown with the green line these are trade these are options that expire today for the sb 500 next expiry which for the sb 500 would be today and then the purple line is showing all expirations so it looks like a large component of the options trades today are zero dte options trades that expire today let's just go back to the total signal so overall today hero has been a very good confirmation of of trades of price action in the sb 500 oops let's take a look at nasdaq now so this is a combined signal for ndx and qqq so first of all i want to highlight this divergent short in the morning notice trades start taking negative delta positions from the open then it takes price a few minutes to respond lower so let's go take a look remember that reversal at the qqq 360 level so we'll go to book map now go to nq so this is the let me tone down the volume dots just a bit right so this was a pretty easy read in nasdaq if you were quick there's the reversal lower at 360 a level that you expect to act as resistance aggressive sellers come in note the almost all magenta volume dots falling as traders taking negative delta positions market makers are selling in q in q to hedge their delta exposure falling cumulative volume delta sell stop orders fueling the move lower those are shown by the falling yellow line as well as the these dots here and then also just gradually large traders are selling with iceberg orders it looks like they have been doing that all day large traders use iceberg orders to hide their size and the falling light blue line indicates they are selling with iceberg orders all right so nice short setup in nasdaq from the open all right let's take a look now so right around 11 11 30 is when price started reverse higher aggressive buyers coming in shown by the rising cumulative volume delta and the magenta to dark blue indicates that cumulative volume delta has turned positive for the day let's go back to hero now so we looked at the short setup from the open and then right around 10 o'clock 10 10 traders started taking positive delta positions and overall hero is trended higher with some ups and downs but it looks like when hero made this higher low here was the time for a long entry all right so that's nasdaq short and long all right let's take a look at some stocks going to start with amd so again a short and a long from the open traders taking negative delta positions and when traders take negative delta positions when they when they buy puts for example market maker sell the puts and they have to sell stock to hedge their delta exposure and note the flow alert here right at 940 as amd crosses the or actually approaches and then crosses the 102 hedge wall let's go take a look at book map amd all right so there's the short first thing in the morning pretty similar to the the sharp drop lower in nasdaq and that flow alert came in right around here let's go tip back and take a look now instead around around 10 or so traders started taking positive delta positions and prices reversed higher all right the next is meta pretty similar price action traders taking negative delta positions from the open shown by the following purple line also note the flow alert here at 940 let's go take a look to book map note 300 is the key gamma strike very important level for meta that was the price target for the move lower as well as the support level clean up this chart just a little bit zoom in all right 300 the key gamma strike target for the quick move lower i think that alert was at 940 also so right around here sharp drop lowers traders were taking negative delta positions and a quick drop down to the 300 level consolidation for around an hour or so and let's go back and go back and see what options traders were doing so here's the consolidation then finally traders start taking positive delta positions around 1130 and price moves higher let's just see what they were doing so net for the day they have still been selling calls this notional value for or call line is negative but they they shift well i'm going to make a note of this so they shift from selling calls taking their foot off the gas then they start buying calls 1130 1140 price moves higher so the same time they they were selling puts here they start selling puts again and price responds higher with support at the 300 key gamma strike let's go back to book map it looks like there is somewhat of a shift in order flow here with more green volume dots coming in more aggressive buyers at that 300 level all right the next is netflix let's go to hero take a look at netflix and note i do not have netflix on on book map so we'll just take a look at it here and um and hero and this may be difficult to see but there's a flow alert right there right at the right at the open looks like it at most a minute after the open a flow alert and that's at the 377 50 hedgewall level options traders take negative delta positions netflix moves lower and notice options traders take their foot off the gas netflix price has consolidated leveled off not doing anything since about 1030 or so 1040 let's just see what they were doing so they're buying puts and selling calls all right the next is invidia it was definitely a choppy morning in invidia but overall the trend for hero today is rising call wall at 450 potential target maybe not for today actually maybe so so it looks like invidia is trading at 448 now so that 450 call wall key gamma strike is definitely in reach for invidia as traders continue to take positive delta positions note another flow alert so there was some chop today but right around 1040 um price finally got going up at a nice uptrend and traders were buying calls and selling puts so you have the alert that to get your attention and then watching hero you can see that traders are taking positive delta positions market makers taking the opposite side they have to buy invidia stock to hedge their delta exposure let's go take a look at book map make a note of that go to book map invidia so here's the choppy session support 439 resistance 445 then finally the uptrend begins so pretty difficult to trade today at least in this morning session truman says i've really have not seen that much chop around 1045 and invidia uh this is chop that long i don't think i have uh seen or i you know that may be uh atypical but some chop maybe for 30 minutes for the first 30 minutes for invidia is is somewhat typical but going on for that long uh not necessarily so but in anyway the nice uptrend begins around 1035 1040 as traders continue to take positive delta positions let's take a look at tesla let's see what options traders are doing and it looks like order flow has pretty much made a pretty drastic shift here from a gent of volume dots to green volume dots so aggressive sellers gave up right around noon and aggressive buyers came in very stark contrast there between the aggressive sellers and aggressive buyers let's see what options traders are doing in tesla let's go to tesla here we go all right a couple of flow alerts here in tesla today looks like both were good looks like if you're quick in the morning there was a long setup from the open then a divergent short so after that quick move higher just about 10 minutes after the open traders started taking negative delta positions it took a few minutes but tesla responded lower so that was around 945 then 30 minutes later or so options traders started taking positive delta positions and tesla finally finally responded higher about 1110 so here's a divergence long set up right around 1050 trades traders start taking positive delta positions and tesla responds higher about 20 minutes later note this flow alert comes in right around 1140 let's go back and take a look at the that book map right so that alert came in somewhere right in here all right so just looking at this and book map so we know that options traders just from looking at hero options traders are really driving price up and down in tesla looking here at book map this trend break nice steady uptrend as traders start taking positive delta positions start shift from aggressive sellers to aggressive buyers and then a retest of the 258 level and now tesla continues higher as traders are taking positive delta positions and aggressive buyers are buying tesla stock all right any have any anyone has have any questions any stocks you want me to take a look at now would be a good time all right so overall hero continuing to trend higher from right around 1040 overall trend higher as traders are taking positive delta positions so for the day they are buying calls and selling puts both both notional value for the blue line and the orange line are positive all right so Caleb wants to take a look at apple let's do that all right so options traders not really driving apple today it looks like at least in the morning they were let's zoom in on this so there was a short setup from the open as traders were taking negative delta positions and then they have continued to do that and his price is now moving higher so hero trending lower apple moving higher so options traders not really in control today let's go take a look at book map all right so there's apple let's just take a quick look at nasdaq here all right so it looks like apple may maybe just being dragged higher by by nasdaq well that's the sb 500 sorry all right and musconi wants to look at google let's go see what options traders are doing so typically apple and google are not uh not very large movers not like uh meta and nvidia and tesla apple and google are much slower moving during the day all right so let's go take a look and see what options traders are doing at google some of the morning traders were not options traders not doing much not really supporting that move lower and then a flow alert comes in so price reverses at the 135 that's the key gamma strike and the key delta strike right there price reverses lower around that level options traders not really supporting the move lower and then right around 1040 this flow alert comes in second alert at 1140 and google responds higher back up to the 135 key gamma strike as traders were taking positive delta positions let's go back to book map so there's google the reversal higher as traders started taking positive delta positions google breaks that trend line starts moving higher all right let's check the sb 500 and the nasdaq so after this sharp move higher with aggressive buyers this uptrend it looks like it has slowed down a bit but maybe maybe finding support at 424 let's take a look at hero and see what options traders are doing let's go to nasdaq b500 zoom in on this so overall the the trend for hero is moving higher consolidating somewhat right now and price is consolidating let's change let's take a look at a 30 minute look back period so we can just see the last 30 minutes of data instead of the entire day so this shows that traders are right now hero is trending lower making potentially a series of lower highs and prices consolidating let's go back to book map all right so some aggressive buyers coming in at the spy 424 level large traders buying with iceberg orders also selling almost at the same time let's check on nasdaq and musconi you're welcome thanks for the request all right so nasdaq may be finding support at the 14850 level that's nq 14850 let's see what options traders are doing in nasdaq so it looks like they're consolidating as well options traders after this big push higher taking the foot off the gas oh i meant to show there were a couple of example trades that we can take a look at here in in qqq so if you do trade options here are a couple of examples comparing a vertical so the idea of a vertical is it increases your probability of success and the only hurdle that qqq had to reach was staying above this 356 level so this is a 355 very uh small vertical that expires today 355 356 so whenever you limit your upside you're generally increasing your probability of success by again limiting your upside and here's the buying an option and it turns out this was the better choice today so a 90 cent option is now trading the profit the open profit from the open 180 dollars so if you double your money so you're have a 2x 2 to 1 risk to reward ratio from buying that call at the one at the 55 support level and i'm showing there the call just above that was slightly out of the money so for you options traders there are a couple of options again looking at a spread trade high probability of success or higher probability of success you don't have to worry about that that theta burn not nearly as much as you do when you buy a single option all right joel says qqq not sure what you want here so here are a couple of trades that i mentioned and qqq again now this as qqq continues to rise jumping up to 220 dollars so more than double your money we can take a look at that and go back to hero and then book map and then we'll wrap it up so there's i'm looking at the combined signal here for ndx and qqq we can take a look at the qqq signal which is the largest component of that by far and one advantage of looking at the qqq signal is that the the alerts will be available so here's the latest slow alert right here this one turned out to be timely also one right at the open and the others not so much so there's qqq traders are taking positive delta positions let's see exactly what they're doing so they are buying calls and buying puts show mother rising orange line for calls the falling blue line for puts call buyers more aggressive so overall net for the day the hero signal is positive positive positive notional value and we can look at the qqq chart in book map i normally just look at um i look at the nq chart for any form of nasdaq it just provides a lot more information and i go to the um you know i do the work to translate the levels from qqq to nq right so there's qqq looks like qqq found support just above the 355 level there's the resistance at 360 and now qqq heading back up uh potentially toward the 360 level right hunter says uh hi doug hello hunter if you see largest traders of the day on futures market get trapped by selling at the bottom or buying at the top will help heavy volume and trading an option anyway affect the futures uh yeah so i'm i'm not really thinking about traders being trapped um long or short i'm looking at the options market as a key driver or price again traders are buying and selling calls and puts market makers are taking the opposite side of that and hedging with in the case of nasdaq here with nq futures or the sb500 with the s futures all right jolt so i showed you qqq and nq um hope that answered your question you're welcome so again when i'm if i'm trading qqq like i showed this uh showed the options trades today um taking a long call at right around the 356 long call right as nasdaq was at this level that i expected to act as uh support but i'm looking at the nq chart so the levels aren't perfect that nq to qqq ratio uh does change a little bit during the day it looks like i may have had a little bit too high but the qqq chart just shows me so much more i get the the stops and icebergs and an order flow that's easy to read so again i go to the trouble of putting my qqq levels on my nq chart all right everyone i want to thank you for watching thanks for your questions and comments and remember tomorrow at 8 30 a.m eastern time the jobs report comes out uh should be a big market mover remember the uh indices are a negative gamma position and this could potentially fuel uh a move up or down um in this negative gamma situation a price starts moving higher imply volatility drops then the jobs number is not bad or not as bad as expected then that could potentially fuel a put banner rally so we'll take a look at that tomorrow and we'll talk about it tomorrow afternoon and joe you're very welcome all right again everyone thank you for watching thanks for your questions and comments and i will see you tomorrow bye


My name is Niki U. Montes-Claris and I'm from Philippines and I'm studying MA Future Design in Prague College School of Art and Design. My final project is about coconut waste as luxury waste and I turned it luxury waste because the quantity of the waste is equal to the quality of the benefits and by benefits I really mean that it's a sustainable waste it's it has potential for economic growth and it's good for social development for its future prospects and coconut is actually very abundant from where I'm from which is from Philippines and the sad part is so much of this weight is disregarded 75% and I want to be able to see how this waste is managed because any waste can be managed but where does it really go like what can be done with the waste after to even sustain a circular economy and I think I'm talking in scientific terms but but yeah you'll just have to come see my show to get more get more insights of it in a more visual and futuristic view I was reading this book about rethinking materials for sustainable future and it was so surprising that you can do whatever with waste and waste there's this code that says waste is not waste until you waste it and it inspired me to research on something related to my country so I researched on tropical waste and it so happened that coconut was one of the most was had highest quantity of waste and also the quality of benefits which in some ways I think everyone knows that there's a lot you can do with coconuts but sustainably wise maybe you'd be surprised yeah this is a result of no sleep I think everyone says that it will be good at tea and you know so we'll see my exhibition will be like you drowning in coconuts there's gonna be coconuts everywhere but information about coconuts one of my methods of the project was to interview one of the companies who are doing something with coconut waste and surprisingly he gave me a coconut that was coming from Philippines so you're gonna be able to see an actual coconut actually so it be nice yeah I think I've already said too much about coconut waste and coconuts in general and this is the final show where maybe I will stop talking about coconuts after this but you're gonna have to see it too to be surprised so yeah


Well, good afternoon. So just so I understand demographics a little bit, although I was at your convocation. So senior course, folks, just by a show of hands. This is kind of to wake you up to, OK? And then moving your arms might help a little bit. And the junior course, the intermediate course, OK. Maybe an even split, perhaps. And then I know there are some, so the international students, raise your hands. If you're international students, OK. Well, that's good for the most part. You've spread yourselves out. That's good, not too much tribal activity yet. I'm sure that will take a little bit of time before that. And then I know there's also faculty and staff here, if you could raise your hands in case you need to move your arms, too. OK, all right, great. Thank you. Thanks very much. And thanks very much for the introduction. Emeril Howe, thank you for sponsoring this at the very start of the academic year.  And largely what I'm going to talk about, we've learned about Western behavior. And I'll try to point that out when we know research has pointed us in a particular direction. I'll try to point that out. So some of you who aren't coming from Western cultures can make some sense of this. But I want to give you the historical context because a lot of what we're seeing today is not new. And so from that, I'm going to kind of bounce back to the time. The last time I am an odd example of how one gets professional military education, not by my design but by the subject of the detailing environment, I earned my PME credit from the Brookings Institution as a legislative fellow. So really, the last time I was in a military academic environment was in the Naval Academy a few decades ago. So I know that the vision up here, if I were to put a slide up here and kind of picture of me, I would put a Brontosaurus or a Tyrannosaurus rex up there. And so I get that. But when I was at the Naval Academy, I had a very profound experience and not for the reason that any of you would come to mind immediately. So I graduated in the early 80s. I started the Naval Academy in the late 70s. And I was very, very fortunate that our Vietnam prisoners of war were coming back. And many of them, presumably, were either at the Pentagon and always looking for excuses to get out of the Pentagon. Or maybe they were up at Bethesda taking advantage of the treatment that was there. But we had a significant population of former prisoners of war who would talk to us. They would talk to us at social gatherings. Sometimes they talked to us in the academic environment. But we were fortunate enough to have Admiral Stockdale, a former president of the Naval War College, talk to us on a couple of occasions. And many, many others would talk to us. So we had the added benefit of the folks that were there about the time I was of being surrounded. As a matter of fact, one of our battalion officers was a former POW. So when they talked to us about the code of conduct and when they talked to us about ethics, it was not about compliance. And I will kind of end with an Admiral Stockdale story that I hope will be impactful. They had a significant impact on the entire brigade, not just by what they talked about, but by their presence. They caused us to talk about the profession without beating us over the head about it. They shared our experience. And one of the things that we've found in behavior is that one of the best ways, there's a really important reason for education and training and understanding your role inside the profession, but listening to people who you see as a moral hero and listening to bosses tell stories about what they've done and what they've experienced is one of the most impactful ways to leave an impression on people that actually helps people modify their behavior in a positive way. So I encourage you in this 10 months that you have in front of you, really get to know the staff and faculty. They have a wealth of experience that you can learn from. And some of it will actually be in the classroom. So there are some who say that today's generation have lost the moral code that those former POWs talked to us about, that somehow the proliferation of information has had some inversely proportional effect on the psyche, making today's generation, whichever one that is, and there's probably mine and yours and they're probably different, but there is a tendency for commentary to say that today's generation is bereft of morality. So there are historical precedents for some of these discussions, just so you understand, this might not be the first time that somebody said that. In the 1600s, okay, I'm not gonna go year by year from the 1600s, so stay awake, bear with me. But writing about the laws in early 1600s, the common thought in the day, that dancing was gonna have some horrible effect on society. While that was happening culturally, you had Alexis de Tocqueville talk about democracy in America. His book, Democracy America, noted that the overriding concern of these legislators is the preservation of moral order and good practices in their society. Thus they proceed continually to penetrate to the heart of man's conscience. So at the same time, de Tocqueville reminds us of our own intolerance, right? So we have one hand, we have legislators very concerned about the heart of man's conscience. While at the same time, what are we doing? We are taking a woman who's accused of uttering immodest words or allowing herself to be kissed, was whipped and then told to marry her quarter. 300 years after that, okay so I'm gonna skip to three centuries, women earned the right to vote in this country. So you can see that there's a little bit of historical context for maybe the end of society is not right on the brink. So many at the time thought that the amendment to give women the right to vote would lead to problems, I'm sorry, that actually happened, how many years ago today actually? There was then the amendment that said we could drink alcohol. And we were also thought back that in the 1920s that drinking alcohol was gonna be a great cause of mis-spent youth. Well those men and women would go on to be called by Tom Broca, a journalist and news broadcaster, wrote a book called The Greatest Generation. Those same people, we thought we were on the brink of society falling apart because they were drinking. Anyway, in the 1950s it was rock and roll. What is it today, right? Is it social media? We've heard everything in this country from failing school systems, parents who work too much, parents who helicopter too much. I doubt using history as our teacher, I doubt that we're failing. So last month I had the really rare opportunity, General Odierno for the Army students in the class. Raise your hand again, this is another test. Okay, General Odierno invited me to the Army Profession Conference up at West Point a couple weeks ago. General Odierno brought in his two, three and four star commanding generals along with their sergeant majors. But it was very interesting, Dr. Cook just talked to you about the Blackhearts book. We got to meet the private first class who's now a civilian and the staff sergeant who actually reported that activity to the chain of command. And they were eloquent. They were unbelievably articulate. So they were part of the 101st Airborne, 500 and Second Infantry Brigade, members of the platoon. Again, that platoon was responsible for raping an Iraqi girl, killing her and her family to cover it up. So the young private first class and that cape.army.mil website that Dr. Cook mentioned, his testimonial is on there and I'm just gonna give you a snippet of it. But this young private first class was a product of working parents. He was a product of the internet. He joined the army under some circumstances. He, before he deployed to Iraq, he set himself some left and right boundaries on what actions he was willing to take. When the behaviors of the members of his unit was outside those boundaries, he went to a staff sergeant who was a friend of his in the platoon that was not his zone and they were able to report it outside the unit. Again, as Dr. Cook said, Jim Frederick and Jim Frederick's the author and Blackhearts is the name of the book. I would commend it to your reading list. But these two, one former soldier, one current soldier, talked to the two, three and four stars and don't get me wrong, they were a little bit nervous, okay? Cause they were talking to the army leadership and myself and a Brit, right? So there's a room of 200, four, three and two stars, myself and a Brit. They discussed their reactions when they get to talk about this, about when they talked about the climate that existed that allowed a unit to participate as a group. You know, and as Martin said, it wasn't just, they didn't just wake up one day and act this way, there was a progression of activity that got them there. But when they talk about the experience, so this private first class took an amazingly morally courageous act to turn those folks in because him reporting, turning in his platoon was, took an act of moral courage that would be, any of the rest of us would be hard to pass that test. But he did. And when he talks about it, it's very interesting when we talk about behavior and what's acceptable socially and what's acceptable in our group, it's very interesting, he still has people who call him a traitor. Luckily, none of the two, three or four stars did. Because I asked afterwards, I said, what kind of feedback did you get? And it was overwhelmingly positive. So that's a good thing. But this PFC, okay, a product of today. So I think, and I'm sure you all see this, that there is great reason to say that we're not failing. As a matter of fact, the staff sergeant who's still wearing the Army uniform, he stood on the stage and said to all the two, three and four stars, he said, hey, the Army's perfect. He said, it's us humans that are flawed. And his point was, and he, I mean, he said it, General Odierno and the Secretary of the Army sitting there in the front row. He said, we're flawed. And he said, you, me, all of us, we're flawed. He's right. But the reality is that in each generation, men and women develop along a spectrum of morality. Some behavior is innate as psychologists and neuroscientists are teaching us. Some behavior is, in fact, environmental adaptation. Some of its choice, some of its instinct and a better understanding of these forces can help us prepare for an uncertain future. So I wanna talk to you today for the next couple of minutes of how we recognize and manage our flaws. I know you don't have to tell anybody at home, especially your kids that you have flaws, but you do. But what we expect from the profession to help us and what we as professionals owe our institution. So the profession, as Martin talked about before me, isn't something, if you're wearing a Navy uniform today and I won't speak for the foreign students, but in the Navy of the uniform of my country, we didn't grow up listening to people talking about the profession. In the Army, General Dempsey wrote a paper in 1988 that talked about duty and its responsibility to the profession. You can Google it and find it, it's fantastic. But the Army, maybe not a lot for the last 12 years because they have had to retract some of their students from their participation in forms like this, but the Army's been talking about the profession for quite some time. When I was appointed to this job nearly five months ago and I first started reading about the papers that General Dempsey had written back when he was trade-off commander in 2008, 2010, it took a little bit of a learning curve for me to make some sense of this language of the profession of arms. And while I'm certain that I was educated on Huntington while I was at the Naval Academy, it was not a book that I kept on my bookshelf. But when I did do some reading to catch up on it and there are many, many who have followed in the path of Huntington, but adapted Huntington who wrote over 50, 55, 57 years ago they've adapted Huntington for today, right? So Huntington, if any of you have read, how many, okay, so how many, when I say Huntington, Samuel Huntington, how many have heard that name before? Okay, okay. So Huntington's definition of the profession of arms was very exclusive. As an example, Admiral Howe would be a member of that profession of arms. I would not by virtue of what I did in my aviation specialty. I did not manage violence. Admiral Howe has done that. But when I started reading about the profession of arms in the Navy, we put it into the basket or the bucket of leadership, good old-fashioned leadership. And when I say old-fashioned, I really mean timeless, all right? And you'll have many of these experiences in the 10 months to come. And certainly you've probably heard about some of these timeless leadership lessons in the past. It's interesting, L.P. Hartley, a novelist, describes the phenomenon of people talking about that which they grew up with as the past is a foreign country, they do things differently here. It doesn't have to be that way. Much like the generational discussion I began with, each generation deals with ethical challenges of their time, I dealt with them, you too will deal with them, probably in a little bit different fashion. The challenges are different in the details, but again, for a little bit of historical context, Aristotle labeled the same sensation he talked about the mind, the heart, and the stomach. And I know probably all of you have heard of Aristotle, so no need to raise your hands this time. We talk about it today, we talk about desire and reason, we talk about intuition versus cognition. So you kind of get some examples. So if the challenges are similar, the people haven't changed all that much, what has changed? Well, the profession has changed, it's adapted. As Dr. Cook mentioned, a profession has to adapt for it to really call itself a profession. But the rate of change I would offer to you has gotten faster and faster. Again, with the profession, five months ago, had you said that term to me, I would have thought about how being a professional aviator had changed. New aircraft, increasing automation, different missions, more complex missions, more missions, more adaptability. But that's only a small part. Certainly, we'd like naval aviation to be a big part of the future, but what I'm talking about is Huntington's profession of arms and those who followed Huntington. That is, the higher calling that each of us has responded to, whose distinguishing feature in the US military is the oath we take. It's this calling that Dr. Cook and others point out has elevated the military to a social trust profession. Because we all, in the US military, each and every one of us, expertly apply ethical knowledge on behalf of our fellow citizens, and let me turn that around, we actually ethically apply expert knowledge on behalf of our fellow citizens. It is that which Dr. Cook expounded on, the characteristics of a social trust profession, because it is a critical component of ethics. The American people expect, and they demand, as Admiral Howe mentioned in his opening comments, that we ethically apply expert knowledge. The American people want to be able to trust us, and as Admiral Howe talked about, they also expect a degree of transparency so that they can trust us in a little bit of the old Cold War trust but verify mentality. And the reality is that the American people don't want to sit here and day after day read reports about the military, but when something doesn't look right, they want to be able to get online, they want to be able to talk to us about what we do, and it's definitely not the way we're wired, that is to be transparent. At the Pentagon, I think elsewhere too, but certainly in the Pentagon, when people think about ethics, they really think about what I would call the floor, which is compliance. We have, that is the basic, basic part of ethics is compliance, and you start with compliance, but you definitely move up as you improve as a professional. I don't, and I don't think the American people think that compliance is all they expect from us. They think of it again as one of the slides that Dr. Cook put up. They think about the law of armed conflict, they think about the code of conduct, thoughts that speak to our values. A former, as I said earlier, Admiral Stockdale, a former president of the Naval War College, he wrote that we realize that laws must delineate a floor in our behavior, a minimum acceptable level of ethical standards, and that moral standards should be set on a higher plane. In the Naval Service, we have no place for amoral gnomes lost in narrow orbits. This is still Admiral Stockdale. We need to keep our gaze fixed on the high-minded principle standing above the law, duty, honor, country. So that's what Admiral Stockdale wrote a few decades ago when he was president here. Part of the reason you're here in Newport this year is to broaden your thinking. And the wonderful part about the very diverse student body here is that as everybody said today, General Rodriguez, Admiral Howe, you will gain by diversity of thought. You'll be exposed to differing views, no matter your views on the strategic effects of sea power, there is a commonality of ethics in what is right and what is wrong. As a profession, we need to spend more time talking about what right looks like over emphasizing what you should not be doing. The wrongs that have been committed, we frequently find ourselves talking a lot about those. Instead of, and as Martin pointed out, acting on the standard military fixes, we need to have conversations amongst ourselves about what right looks like. By highlighting what right looks like, the profession continues to evolve. Let me give you a couple of concrete examples. George Patton. I don't think there's probably nobody in the room who hasn't heard of General Patton. Is that true? If you've not heard of General Patton, don't go to me. I'm not a historian. Talk to one of your folks in an army uniform. Brilliant commander, World War II, all right? But even in World War II, he harbored what today would be a toxic environment. What was acceptable then is simply not acceptable now. Was Patton any more successful than George Marshall, another American military general, or Martin Dempsey? I would say no. An evolving profession is one that survives and thrives by seeing change as an opportunity to broaden your thinking and your experience. There is a bit of a moral imperative for us to evolve. Because we serve society, as Dr. Cook pointed out, and it's the nation's values and rights that we defend, not our own reputations. That means that as society places new emphasis on what they value, which is its constitutional right to do so, we defend those new values. We do so within the bounds of good order and discipline, but that cannot be as used as an excuse not to change. Rather, good order and discipline must be used as an opportunity to shape change. I've seen this evolution in my time in the Navy. It's funny, my speech writer wrote my short time in the Navy. I don't know about you, but three decades maybe compared to 300 years is a short time, but in my time in the Navy, drunk driving. When I came in the Navy, we were still in a place, societally and in the military, where drunk driving was something that you just didn't talk about if somebody received a DUI and they didn't hurt anybody. There was an ability to just walk away from it. It wasn't documented. There wasn't a requirement to document. And as society came along, so did the military. And today, as a flag officer or general officer, for all the right reasons, if I committed a DUI, even if there is no visible harm done, I have done that. I have negatively impacted the reputation of the Navy, the reputation of the military. And today, it would be also a negative reflection on the Secretary of Defense. So regardless, a lawyer would go into court and say she didn't harm anybody. I would tell you, not that I would. Not that I would drink and drive, because I don't. But I would go into court and I would accept the crime, accept the guilt for the punishment that I was owed. That was not where we were 30 years ago. So it is an example, it is an example of how society and the military changed over time for the good. And I will tell you that lots of people at the time, the conversation was, well, why do we have to let him or her go? They have a brilliant future ahead of them and they have already sacrificed a lot. And I suspect you have heard that conversation yourself in your time in uniform. The rate of change. The rate of change is greater today than it's been in our lifetimes. And it offered that many of the issues we've seen in each of the service has as much to do with failure to adapt to change as it does to 13 years of war. In his book, The Happiness Hypothesis by Dr. Jonathan Haidt, and that's Haidt with A-H-A-I-D-T, he uses the metaphor of an elephant and a rider. And it's really instructional to talk about the elephant and the rider because he's referring to the two parts of the brain that economists kind of figured out 10 or 15 years ago. All right, so I'm in the Navy. We are a very platform-centric organization. The Air Force is pretty close to us in that respect. The Army and the Marine Corps are very different. You are much more people-centric in how you think about things. When you see pictures of the Navy, you usually see pictures of ships. Probably a special warfare community better than the rest of the Navy about that, but you see pictures of ships and aircraft and submarines. When I walk down the hall of the Pentagon and the Marine Corps Corridor, I see the largest globe and anchor that's probably on the face of the Earth and two Marines. All right, so in our very systems, engineering approach to many problems, when somebody tells us there's two parts of the brain, there's the intuitive or emotional side of the brain frequently attributed very strongly in women, and the logical, rational part of the brain largely considered to be dominant in men. So when we talk about the elephant in the rider, guesses as to which the, is the logical side of the brain, is that the rider or the elephant? Okay, rider small, about my size, elephant many times larger. Any guesses? The logical, rational part of the brain is absolutely the rider. The intuitive or emotional side of the brain, scientists know, first of all, is the more dominant. It's faster. The intuitive side of your brain works three to 10 times faster than the logical side of the brain. So what Dr. Heit says is that our intuitive mind like the elephant and rational mind like the rider, most of the time, most of the time the elephant adapts to the changing path. But for a few, the grass that defines the path isn't high enough, so we try to train the rider, right? And this is kind of the military fixes that Dr. Cook talked about, right? We fire people, we do train, train, train. When we're training, are we training the intuitive part of the brain or the logical part of the brain? Exactly, exactly. Thank you for those of you who are still awake. So we try to train the rider, but so imagine the rider pulling on the ears of the elephant in a crisis, the elephant's freaking out, right? So no, probably the rider's not gonna be successful changing the direction of the elephant. So instead, we have to have the conversation to help grow that path for the elephant so the elephant knows the right path to follow. We have to show you what right looks like. You have to have the conversation about what right looks like, and you have to do that with each other in this environment where there's not the pressure of do I make the right operational decision today or not. The notion of the path we lay out comports with data that my staff has pulled out. In 1970, the Army conducted a study that really the results would not be much different today. Back in the 70s, the Army was concerned about the diminution of ethical conduct in Vietnam. Their conclusions were to increase the study of ethical conduct to discuss ethical challenges more openly and force the standards of ethical conduct. The approach worked and it still works for a period. But what we're trying to do is institutionalize ethical conduct to place moral competence on the same plane as tactical or technical competence to make it stick. And I think Jonathan Haidt has it right when he says, we need the guidance of both ancient wisdom and modern science to get the balance right. So that's what we're focusing on our efforts at the Secretary of Defense's level and there's some fascinating work being done by economists, psychologists, neuroscientists. I was an oceanography major, I was none of these majors. But they understand more than we did 15 years ago about how we process information which drives how we act. Daniel Kahneman, another author I would commend to you, he wrote a book, Thinking Fast and Slow. And Daniel Kahneman, by the way, wrote the Nobel Prize for Economics in 2002. And his book about thinking fast and slow talks about the two parts of the brain and his buddy Dr. Haidt started the elephant in the rider conversation. But Dr. Kahneman was one of the first to describe the process in terms that all of us, okay, not the neuroscientists, that all of us could understand. So science has confirmed what we've figured out, that we're imperfect professionals dealing with ethical challenges in a society that is readjusting norms at an ever-increasing rate. Where does that leave us? I think the environment I just described provides a view towards a solution. And I use this term imprecisely because we're not gonna solve these issues all at once. We're gonna equip leaders with knowledge about themselves, how they make decisions and about how others make decisions. Make no mistake, economists are using what they've learned about how we make decisions to influence how we spend our disposable income. I think that we can use this type of information to help us make better decisions on a routine basis. We'll also increase transparency of the organization just by virtue of the fact of how we share information today. Notwithstanding security, I was brought up in the nuclear command and control world. I get upset, this is different. This is about talking about how we make decisions. So we wanna make it more uncomfortable for those who live outside our norms, who don't live up to our values. We wanna be transparent so that those people kind of rise outside our norms and then we'll learn about leadership across the services for everybody's benefit just by having the conversation. So again, Admiral Stockdale, he wrote the Ford when he was president, he wrote the Ford of each Naval War College review. Many of those letters in the Ford's were turned into the book The Thoughts of a Philosophical Fighter Pilot. Okay, aviators of all services in all countries, aviators, raise your hand. Okay, how many of you would describe yourself? Okay, so if you're not fighter pilots, philosophical pilots, how many of you would describe yourselves that way? Yeah, I didn't raise a couple of you. Okay, a couple of you who are not wearing this uniform anymore are wearing different uniforms, right? And so perhaps if you called yourself philosophical pilots while you were wearing the uniform of aviators, I commend you. I did not, I would not call myself a philosophical fighter pilot. Admiral Howe, no pressure, okay? But one excerpt in particular that I wanna close with to give you to take away. Admiral Stockdale wrote, to lead, leaders will face the need to be moralists. Not as those who sententiously exhort men to be good, but those who elucidate what good is. A moralist can make conscious what lies unconscious among his followers, lifting them out of their everyday selves into their better selves. Admiral Stockdale spent a year at Stanford in guided reflection before, before he was captured as a prisoner of war. His guided reflection was in philosophy and he writes in one of his books, A Vietnam Experience. He said, yeah, the Navy just sent me to Stanford that didn't really tell me what to do. So being the classic, the lover of classics that he was, Admiral Stockdale decided to study philosophy. But he sought out and found a mentor who met with him every week and kind of gave him reading assignments, okay? Sound familiar? It was this year in particular the philosophy of Epictetus that he credits with helping him endure his time as a prisoner of war. The profession has provided you this year to reflect on your past and on what I hope is a very bright future. The profession has provided a staff that is eminently qualified to take you on this journey. As professionals, you owe the profession the commitment to your studies to ask hard questions of this staff, which we'll start here in a little bit, and of yourself. You owe it to the profession to transcend your everyday selves into your better selves. And at this point, I'll now turn the microphone over to Dr. Linda Johnson, who's gonna talk to you about your next year as well. Thanks. Thank you.


Hello and welcome to the session. I am Asha and I am going to help you with the following problem that says ABC is an isosceles triangle with AB is equal to AC, draw AP perpendicular on BC to show that angle B is equal to angle C. So this is the required figure of this problem and let us now begin with the solution. First we are given that ABC is an isosceles triangle so this is an isosceles triangle with side AB is equal to AC and we have drawn perpendicular AP on BC and we will show that angle B is equal to angle C. So we are given triangle ABC is an isosceles triangle with AB is equal to AC. We have drawn AP perpendicular on BC. After proofs angle B is equal to angle C. Now we just take triangles ABP triangle ACP these two triangles side AB is equal to AC which are the two hypotenuse in these two triangles. This is given to us an angle APB is equal to angle APC since they are right angles AP is perpendicular on BC this implies these two angles are of 90 degree each and also AP is equal to AP since these two sides are common. So this implies triangle ABP is concurrent to triangle ACP and this is that RHS rules congrats and this implies angle B is equal to angle C and this is that safety safety this is what we have to prove so angle B is equal to angle C and this completes the solution hope you enjoyed it take care and have a good day.


Remember a hallmark card when you will carry enough to send the very best Hallmark cards bring you a true story from the life of Sarah Sitton starring Miss Helen Hayes On the hallmark hall of fame here's our distinguished host Edward Arnold Welcome to the hallmark Hall of Fame Tonight our true story is transcribed from the life of one of England's greatest actresses Sarah Sitton It's the story of one woman's determination to win fame and success against tremendous obstacles We are pleased and proud to welcome as our star playing Sarah Sitton's another great actress Miss Helen Hayes Now here is Frank Goss as the Christmas season approaches One of the most enjoyable prospects is the sending of hallmark Christmas cards to be chosen with pleasure and mailed with pride For in hallmark cards of any price you find the inherent quality and craftsmanship You want in your personal greeting to your friends and the familiar hallmark and crown in the back of the card shows, too That you carry enough to send the very best And now with Miss Helen Hayes as Sarah Sitton's Mr. Arnold brings you the hallmark hall of fame In 1755 the daughter of the manager of a traveling troupe of actors All the years of her youth she dreamed of the time she would become a great actress Indeed she married a young player in her father's company Years passed and though she appeared in many provincial productions. She was summoned for no great role But finally one day there came a call from one of London's most famous producers There it is my love mr. Carrick's office not yet will you let's not go in just yet Come now Sarah you've waited too many years for this moment many many years will Still, I'm afraid the great producer David Garrick a great actress Sarah Sitton's Come along now Through Mrs. Sitton's I've been expecting you come in come in Well now welcome to London and how was your tour successful sir my husband We're grateful for this opportunity mr. Garrick a chance for Sarah to appear in the London State She'll be a great actress you wait and see yes that she will be you see mr. Siddons We believe in you. Thank you. I hope I prove you right my dear from the moment I saw you in that touring company. What was the name of it? Well, no matter from the moment I saw you in that tiny theater I said there is a lady who can become a great actress. Oh not yet. I said but someday Perhaps soon. It's what I've always said mr. Garrick good Mrs. Siddons yes, sir you have a husband and children Are you willing to give these up for success in the theater? But need I give them up in a manner of speaking your career will take time and effort if you want to achieve greatness I do good now. It's to the play. We'll open with a merchant of Venice. You will play Porsche Porsche Yes, that's a light roller a simpering role Sarah's usually played heavier parts. I Can do it of course you can mr. Siddons as I was saying we'll open in about four weeks You'll play Porsche, and you'll be delight All right Sarah all right Sarah and nothing is right Diagnosis opening night nerves is that it husband mine a simple fraying of the news Yes, and something more tell me then tell me what more sweet will Tell me oh stop it Sarah let the acting happen on stage and not here in your dressing room I mean it sweet will Tell me of the tempests in me. Tell me why I am cruel and scream at you like a fish wife Do tell me I've said it opening night nerves such as you've had a thousand nights in a thousand provinces But this is London will in a thousand provinces and now you're in London at the brewery lane with Garrick and a London audience I will not please I didn't say that province actress You called me and not fit for the London stage not fit to carry a cloak for the great Garrick Well, I tell you this William dear London and the great mr.  Forgive me. I beg you because you must live would you play? Because you must become Porsche to play Porsche as you become a hundred other women and use them on me My aunt and sir. Yes, tell me this London audience who they love me. Yes Sarah no don't touch me No I'm sorry, I'm sorry to give me That you yet to know not of we shall see our husbands before they think of us shall they see us They shall nurse her but in such habit that they shall think Well, how goes it? She seems tired. I don't like the part. It's not right for a nonsense She's a natural comedian. I'm not so sure a fellow of the two and wear my dagger with a grave of great and speak between the change of man and boy and turn To to mincing steps into a manly stride and speak of grays like a fine bragging youth They can die Sarah. You can still win them You hear me go back I'll work at anything else the lowest the most menial anything anything but not this not the theater Take me home It's beautiful. It's beautiful what Mrs. Siddons now that you're my house servant. It's beautiful. What? It's beautiful mom. No flex of dust I run a gloved finger over my possessions Mrs. Siddons now come over here These my goblets my wine glasses decanters crystal pure crystal Beautiful is it not beautiful the sound sparkling clean crystal make a lovely moon Mrs. Siddons. Yes The life you've led What about it? mom an actress and Having once been an actress Perhaps you will not find the climate and discipline of my house compatible with with my what moon the life you've led You must understand. I know a great deal about you Made inquiries how as a girl you ran off with an actor fellow Married him as my mother did before me there You see Mrs. Siddons. Yes, I must tell you but I Saw you as Porsche. Oh A performance without Without uh, you were not very good. No, I wasn't now The door mom no no no stay where you are. I'll go myself For love you to call No, stay for a moment dear and say nothing. I got her. I have Sara Siddons to make my bed to pour my tea to brush my hair and she minds like a puppy Wonderful Come in dear, Mrs. Stone carry for me pot for Mrs. Stone and briskly does it risk Bring you the second act of the hallmark hoax two weeks like most of us You will be puzzling over what to get those people who are still not checked off your Christmas list Well, you'll find some delightfully original and inexpensive gift ideas at the fine stores where you buy your hallmark Christmas cards For instance boxes of hallmark notepapers make most attractive and useful gifts These notepapers are so handy to have for all those occasions when you don't want to write a long letter And for thank-you notes or invitations You'll find boxes of these smart hallmark notepapers at only 59 cents one dollar and two dollars And if you want to thrill youngsters, you know or find stocking presents for your own children Be sure and see the amusing hallmark toy cards These are cards that are also gifts and the youngster first assembles a toy and then has it to play with for many happy hours Boys will love the hallmark jet wing a model jet plane that comes in an envelope for only 25 cents And for girls there are the charming hallmark paper dolls Each doll comes in an envelope complete with a cutout wardrobe and costs only 25 cents to Yes, you'll find many original Inexpensive gift ideas at the fine stores that feature hallmark cards the cards with a hallmark and crown on the back The symbol that you look for when you carry enough to send the very best And now with miss Helen Hayes as our star Edward Arnold brings you the second act of our true story from the life of Sarah sit Told herself. She was a poor actress at all the years. She had given to the theater with the nothing It was as if she punished herself for the fiasco of her first appearance on a London stage She took the most meal job. She could think out She became a housemaid and then one day Will my sweet will Come in will Mrs. Trowbridge gone for the evening. We'll have an hour to ourselves Come what wine will you have out of what priceless this all Sarah? Please? I must I've told you will well not to speak of it I am content She pays me very well.  Oh, well leave this Sarah go back to the theater No Because a London audience cat called and hissed because I am not cute it to it Because in the role of drab and slavy that I play here my dreams are not haunted by their hateful cries The pit wolves and the balcony baboons Am I a comic husband mind? No not comic but tragic. Yes a woman who can Feel sorrow a goddess who makes alchemy of emotion and for base metal uses the anguish soul The words you spoke will Not your surely no darling the words of William Brinsley Sheridan London's foremost playwright and the director of the Truery Lane Theatre. Will are you mad? He said them to me to me your husband Sarah Sidden's he said Sarah Sidden should never have been cast in a frivolous role This woman is a great tragedy in he said it to me. I don't believe it Sarah my dearest I ask only that you come with me to mr. Sheridan's office then decide will Very well William I will go And then decide because I was a failure. I was not worthy of it, and I am not now I think differently Then you did not see me as posture mr. Sheridan I saw you and I'm quite ready to agree you wear a failure And you've richly deserved to the catcalls of the pit then why I saw you play once in the provinces I saw your lady Macbeth the memory of it has not diminished nor dulled Mrs. Sidden's yes, mr. Sheridan. I am willing to gamble my reputation my money my peace of mind Surely yours is the lesser gamble. I ask it only once again mr. Sidden's Will you come back to the theater? Don't you understand mr. Sheridan to face an audience again to think that at any moment One of them or all of them may rise up and boom and yes Until you're driven from the stage in it in a storm of grief and humiliation No, no it would take the courage of a greater person than I mr. Sheridan. I cannot do it Yes, it would take courage mrs. Sidden's The kind of courage it takes for a woman to swallow her pride and seek employ as a housemaid to a wealthy snob It would take a great deal of courage mrs. Sidden's that kind of courage then you you know yes, and I also know mrs. Trowbridge so I can recognize real courage when I see it Surely Sarah surely you can't refuse him I Very well mr. Sheridan you have employed a new housemaid How do you feel what I said how do you feel? If I were dead and all the waters of the sea would be a wash over me, then you'd be happy.     Time has small splendors for all of us and this is mine To go out there upon a stage again As if I'm being born again in a bright and shining world of imagined tragedies and laughter and applause. Yes, and Adulation. Yes Where's William? What's he doing now? Yes, William my husband William, where is he?  Oh, no, sir.  Sheridan told you that time and time and time leave it. There's no you believe it.  Give back there Yes Yes Like a day at door quiet Lady Macbeth walks in her sleep out Damn that spot out. I say One why then there's time to do it Hell is murky Fine my lord fine a soldier and a feared What need we fear who knows it one man can call our power to account Yet who would have thought the old man to have had so much blood in him Do you mark that the pain of life had the wife where is she now? What Will these hands near be clean? No more of that my lord no more of that You ma are all with a starting go to go to you have known what you should not She has spoke what she should not I am sure of that Heaven knows what she has known here the smell of blood Oh The perfumes of Arabia will not sweeten this little hand The sigh is there the heart is solely charred I would not have such a heart in my bosom for the dignity of the whole body Well Pray God it be sir This disease is beyond my practice yet. I have known those which have walked in their sleep will have died Holy in their beds wash your hands put on your nightgown look not so pale. I Tell you yet again bankrose buried. He cannot come out on grave even so to bed to bed There's knocking at the gate Come Come come come give me your hand What's done can not be undone To bed to bed to bear Will she go now to bed how they love her to share it Tell me in one performance. You are the first lady of the English state your voice more delicious than delicious music I the applause the noise I did not hear you So what what you said I should like to present mr. Disraeli, Mrs. Sarah Sidney Mr. Disraeli I am honored dear lady your performance tonight a pavilion of wondrous women all called Lady Macbeth Thank you Where's William? I beg your pardon? Husband's name is William. Oh, I see in your dressing room waiting Mrs. Sidney your performance tonight was of such tenderness and beauty that You were so very good my dear and I'm so very proud And I love you so much Mr. Disraeli mr. Sheridan why they've gone That's nice That's very nice indeed Sarah Sidney's with an immediate success Her failure as a comedian rather I should say miscast in light-hearted roles She came into her own as an actress in tragedy The great people of the time came to pay her tribute the kings and the poets of the statesmen Never was there such a star as the immortal Sarah Year in year out each triumph greater than the one before and always with her husband beside her One of the theater's greatest actresses one of history's most courageous women will return in just a moment In your family, do you put your presence under the tree on Christmas Eve? We do and the excitement of that day every time someone goes through the room. They take a peek Even if you have no curiosity about what's inside you can't help thrilling to the outside beauty of the packages Yes, the way a gift is wrapped certainly adds to the excitement and pleasure of Christmas That's why so many people choose hallmark gift wraps exclusively You can do so much with them the colors are unusual and distinctive the patterns are designed by skilled artists and Everything the paper tags seals and ribbon is designed to blend for a beautiful effect With hallmark gift wraps you can select designs that are best for big packages or small boxes Or other hallmark wraps that carry out the theme of the gift itself like toy designs to wrap a child's toy You'll find special hallmark gift wraps that are designed particularly for men's women's and children's gifts And for that final added touch there are the new hallmark gift trims These are three-dimensional cutouts that come with their own adhesive sponge rubber Attached to the outside of your gifts They glitter and sparkle and give that extra touch of magic to the gifts you'll be putting under the Christmas tree And as with hallmark cards these trims and gift wraps They're the familiar hallmark and crown the symbol that you look for when you carry enough to send the very best Now here is Edward Arnold with Miss Helen Hayes Helen it's an exciting Sunday when you are with us on the hallmark hall of fame Thank you for your usual beautiful performance It's especially fitting to have Sarah Siddons a great lady of yesterday's theater portrayed by a great lady of our modern stage and Say didn't you win the Sarah Siddons award last year for the best performance by an actress? Yes, I did that happened in Chicago They've instituted that award to help create more interest in the theater in Chicago And I was thrilled with both the idea and the award and I just like to say that I'm always Happy to be asked to come back to the hallmark hall of fame. Thank you Helen Hayes You may be sure it is our pleasure Now Frank us I believe you have a special announcement to make yes, mr. Arnold I do for 19 consecutive years Lionel Barrymore has been heard in his unforgettable role of Scrooge in Charles Dickens a Christmas Carol Because the hallmark hall of fame feels his portrayal has become an important part of the Christmas tradition Next week we will present a transcription of mr. Barrymore's last performance as Scrooge and may I add Frank? That it was Lionel's favorite role. I know he would be pleased to see the tradition that meant so much to him personally Continued I hope you will join us next week until then. This is Edward Arnold saying good night That are sold only in stores that have been carefully selected to give you expert and friendly service Remember a hallmark card when you will carry enough to send the very best The hallmark hall of fame is produced and directed by William Frug Tonight's transcribed script by Morton fine and David Friedkin Kent Smith was featured as William Others in our cast were Virginia Lowe William Conrad Biola Roach Tutor Owen Joseph Kearns and Lorna Thayer Next Sunday the hallmark hall of fame on television will present John Collis Minotti's famous Christmas opera. I'm all on the night visitors This is Frank Goss saying good night to you until next week at the same time when we will present a transcription of Lionel Barrymore In his famous portrayal of Scrooge in Charles Dickens Christmas Carol on the hallmark hall of fame Today three out of five schoolrooms are overcrowded This is a vital concern to every American because our country's whole system of government depends upon well-educated men and women How you as an individual can help improve the schools in your community is explained in a book that published by better schools The book that is free write for your copy today address better schools to West 45th Street, New York 36, New York This is the CBS radio