What's going on guys welcome to another vlog? I'm starting it back. I'm starting it back and it's freaking awesome.  I'm just being honest with you and There's one thing I loved doing all right and it's making videos and like I Enjoyed doing it.  It's just it's gonna bring it back It's just the matter of time and being patient with it.  I'm not I'm not backing down We're gonna make it happen.  I could focus on my videos I could focus on the fishing team. I could focus on Getting back in the gym. I could focus on everything and I can still do it all, you know I can do it all but for me to do it all I got to work 18 hours a day But that's okay You know, I'm achieving what I want to achieve. I'm following my dreams.  I just want to start off with the video like that because Just to explain myself a little bit even though that didn't really explain much Maybe I'll make a whole video on that but Let's stop talking. Let's hop into today's video.  I'm starving. My head's killing me I don't know what I've been drinking a lot of water and stuff because My head is killing me but I think it's because I haven't ate either.  It looks like it's about a rain which really sucks I really wanted to go like to a few ponds just equipped into the vlog and catch a few fish, but Depending on the weather, I guess we'll see what happens from there Have a few more things to do. I need to go by the museum here at school because I got a You know, I'm not even explaining myself. Let's just go ahead and hop into today I mean, it looks pretty outside right now, but you could tell it's been raining I don't even know it's been raining be honest with you Guess it rained a little bit maybe last night The plan right here Actually going to the auto parts store pick up some parts Some tools that I need to fix my boat. I'm not gonna tell you guys what's wrong with it until we get there We should get there here a few minutes. I'll I'm gonna go by the auto parts store get a few tools Get everything I need to fix the boat go back fix the boat and see how it is but I don't even know. I don't need I never knew there was a auto parts store down here So it's kind of weird. I guess I guess we'll figure out Let's just get to the auto parts store.   They just don't have just one of those Extensions they don't have it here, which I wasn't expecting this place to be. I mean, it's an advanced auto parts. It's down Here not the best area in town So I wasn't expecting them to have much and they did not have much. I probably end up I might have to look up on my phone I might end up having to go to like pooler area Which is the nice area here in Savannah where I'm playing on moving. I Don't know. I'm gonna have to look up a few things And see what what place I need to go to get what I need It's not like I'm even asked for much if I go to the pool or I'll probably stop by one of those ponds and fish it for a minute Honestly, let's just do that.  I'm deciding to stop by The neighborhood that I'm playing on moving in this pond in here. I just want to fish for a second I want to get a feel as like what's in there. I got caught one yesterday when we're looking at houses That's one out there for like five ten minutes and caught one And I don't have much. I Just have like a little crankbait and it's on braid like well, we'll make it work I just want to see what's in here. I'm just gonna fish here for a few minutes And just see if I can catch one and then head over to the auto parts store I just want to get here before it starts raining and stuff I didn't want it to like start pouring on me and stuff But I don't have like gopers to film the whole thing, but I'll be sure to still film and stuff This is actually the pond right here really nice See this have this little crankbait on for my lucky tackle box on braid Really all I got but a pretty nice pond I just want to see if I can catch a few out here. You see how easy it is I mean I caught one the other day, but I want to kind of walk around a little bit more. What was that? That's probably like a big old cart Let's just see what I can get Guys that came up right there. There's actually two little bass.  He was too bad. Let's try to catch him, but Didn't give him a bite. I was feeling I'm gonna get a few today Today got me a got me a little shirt. All right, cool That's pretty crazy That did not work out Let's start raining and I Did see some activity when I walked up I saw this bass at the shore and then right after that I actually saw like a really big carp and Then I was walking down the bank somewhere. I fished this area I kept fishing along the bank and I looked behind me like the area already fishing There's like these fish coming up and eating like bait or something at the top right by the bank like it kind of was when I pulled up and I literally I casted right on it Reeled it twice and all you see is this fish has come up and eat it Now I hook said it's never got him. I was like, dang But he wasn't out there. I was just kind of since I'm over this way I was like, I want to go see if I can catch a fish sadly didn't We'll figure something out. I'm gonna come over here soon Just to see like especially if I want to be moving over here Just to see if there's like a cool area because there's like a great opportunity For me to like film a lot of stuff and a lot of cool things, especially if you're sitting in your backyard All right, just ran into this. Oh O'Reilly's right here Got what I need nine sixteen. It's deep socket, but uh This place is I'm so stoked to move over this way like it is so nice Like it reminds me of back home by the Mall of Georgia. I'm from Atlanta originally if you guys don't know I'm in Savannah right now, but I just just reminds me of back home So about the Mall of Georgia area that come by everything, you know, and this is kind of like poolers like the Mall of Georgia the Mall of Georgia of Savannah like it's the hot spot pretty much everything's over here This where the money is that you know, that's just that's just the type I mean I walked in this advanced auto parts much nicer. They have everything There's O'Reilly's down there and then there's another auto parts store. I can't think of the name of it How's is a advanced auto parts? You got O'Reilly's I don't know. There's another auto parts store right there Just right here like within a quarter of a mile and it's like so nice perfect But I'm gonna actually run to boat store actually I'm not gonna I'm gonna run to the museum first and get what I need from a project or for my paper And then I'm gonna go to boat storage This is for the one's way to frame and this is more than some paper chicks I wonder what they the same never worry about what hope you guys enjoyed that quality Let me know if that quality was all right I actually the camera battery is about to die and I really didn't want to bring the camera into the Sky Museum So I actually use my phone. I've been using my phone to record a little like a good bit lately and I'm Pretty impressed honestly with the quality So I mean I'm not gonna like stop vlogging with my camera But like definitely like I'm gonna start quickly like phone footage and stuff because I can take that places I can't take this it's less awkward. You know, just just a lot of cool benefits I was thinking that I'm probably not gonna go to boat storage today Just because I got a lot of work to get done business stuff school stuff Thinking about going to do that, you know, I might come back later tonight More than likely not But I Guess we'll see I'm gonna go back to the apartment right now If you're wondering why I went in there and like did that did the little museum is because I actually have a school paper I got right and it's got to be over like a 3d piece in there, so I had to take pictures and Like picture the artist name and the artwork name like stuff like that. That's why I was in there It wasn't like I was just cruising through the museum Go back to the apartment Just posted this cool photo on Instagram Where's like Emojis on the states and then you guys can comment like what state you're from is so cool You should do that on this video matter of fact go comment below what state you're from I just want to see like variety of like where my fans are located. I think that's pretty cool Yeah, go to comment below on this video. Let me know where you're from That's crazy by Instagram it like shows majorities from Texas And there is a lot of texture a lot of Georgia as well. I don't know go comment below on this video where you're from All right guys about to get to work but start editing so I'm gonna close this video I think it's been pretty long overall guys. Thank you guys so much for watching. I'm bringing the blocks back That's a big thing. I'm bringing them back to you guys cuz you guys love Thank you guys so much for watching enjoy this video hit the thumbs up button Also leave a comment below be sure to hit that bell next to subscribe button and notify you I'll catch you guys at the next video


We are down at Frankie's free-range meat I actually came outside to escape the noise of the guys packing orders But there is no quiet part of New York City Whether it's the cars driving by the train the police sirens some random guy yelling across the street This week is a bit more nerve-wracking than usual because it's Christmas and Any company that has to ship product, especially perishable meat You know the postal service is closed the day before the day of Christmas There's so many orders going around every shipping company is so busy that there's a lot of delays and Most me companies actually close the week of Christmas and the week of New Year's Presumably because so many orders are lost. We did ship New Year's last year as well as Christmas I think we had to delay one week because Christmas fell on a Wednesday And it was just impossible to ship but today we're shipping out. Hopefully most of the orders arrive in time and Next week the week of Christmas. We will be shipping out as well, which is why I'm announcing our Prime rib that we will have available tomorrow. I would say it's guaranteed for New Year's guys I wouldn't bank on getting it before Christmas And we also are going to be giving away One flavor of each best bar on all orders placed this week So if you place an order this week When we ship out next week you will get one of each best bar with your order And we'll also have that primer available if you want to do a holiday roast You know if you're on the East Coast, you'll probably get it in time. We don't know We can't guarantee anything with these shipping companies But hopefully you guys are able to enjoy your holidays and maybe Incorporate some of our high-quality animal products into them. So let's go inside Let's see what's going on with Adam and the guys and I got to fill some orders for Frankie's Syri range foods because you guys ordered a lot of best bars Man that packing table is loud So we got one pallet of orders packed here and we got Two more pallets ready to go. We're gonna get all of the orders out Today Monday just to reduce any risk of shipping delay We got three guys out here fill the orders and then Adam pulls the items out of the freezer This is what I used to do Got some dry ice here in the bins For a styrofoam and down there. We just got all the packing supplies as usual. I Have about 80 orders to fill myself on Frankie's Syri range foods So I'm gonna get to doing that. These are actually the free-range food orders from Friday That still haven't gone out yet because we couldn't get the post office to pick up So all of these orders are gonna go out today for you guys that ordered the best bars As well as things like cod liver oil Which we have right here And then we have the protein powder and nature's glucose as well In addition to All of our cooking fats we have wagyu tallow beef tallow pork lard and lamb tallow So Frankie's Syri range foods if you guys want to check any of that out So you guys asked me quite a few questions one was will we have the best bars on Frankie's Syri range meat and We just can't because we're shipping meat and dry ice in styrofoam. It's very expensive So if someone orders like 20 or 30 of these bars We just can't do it. It costs us too much valuable cold shipping space the second question was are we gonna bring the plane bars back without honey and We might but we're actually hoping to get some Pemekin back in which is going to be Free of honey. It's just beef and tallow and I think that's really what the people who want You know plane warrior bars want the reason we're not doing plane right now is because we can't run that type of Bar through our extruder. So the texture is going to be like the old one. It's just not nearly as good So we'll see about that. So I'm about halfway done with the orders and Tell us thought this actually came to pick up a little early today So we're sending out about I Would say maybe a hundred orders Including the ones from last Friday, and then I got about 30 more to fill so He's gonna load these on the truck And these guys are still finishing up some orders. So the prime rib we're offering is actually like prime grade I know sometimes people just think of prime rib is like a rib by oven roast But the prime rib we're offering is all heavily marble Tender fatty delicious and in addition to that prime rib We're going to have a bone-in wagyu strip loin that you guys can also roast. So we'll have two full-sized chunks of beef That you guys can have for Christmas new years that we'll be shipping out next Monday Arriving as quickly as the postal service allows it to so we did 140 orders on Frankie's free-range meat today, which is all the orders for the week so a hundred forty seems like a lot, but It's not really a lot per day. So Got a couple pallets full of orders, and then we did 35 more orders for Frankie's free-range foods A couple you guys are very generous some people order like 30 to 40 of each of the bars So, you know, we're running through these pretty quickly one of our goals Hopefully within the next year a year and a half is to have a West Coast facility just for shipping You know we could load everything onto a truck Drive it over there refrigerated or frozen and then ship it out from the West Coast because you know for a ship It's a California or a gone Washington all of those West Coast places. It takes two three days even when we ship express So not only will we save you know thousands of dollars per week on shipping people will also get their orders in time You know with this, you know, we're stressed out of our minds just getting every package out on Monday You know, so we don't have packages held over the weekend You know will literally ship an express order on a Monday and maybe one package every two weeks still gets held over the weekend So it's tough, you know when you're shipping, you know large amounts of meat. It's valuable, but You know, we've made it work so far I guess I can show you guys my outfit today because I'm not wearing sweats as usual So we just got like a button-down cotton shirt some gray I guess khaki kind of jeans and then just some brown boots on you know Kind of simple kind of nice Let me know down below if you guys Want me to do like a tour of my wardrobe. I'll see if my rooms Not enough of a mess that I could do that. I guess both myself and Adam didn't really want to you know Give away one of each flavor best bar because it was a lot of work It's kind of a lot of value for a product and we just launched it, but if you order This week on Frankie's free range meat You will get one berry one vanilla one chocolate best bar for free with your order to try I know a lot of you guys like are still carnivore kind of strict with your diet So, you know if you place an order this week, you will get one of each best bar and you know You could give it to your family. You could try it out yourself. You could do whatever We just figured since you know We're not offering it on Frankie's free range meat and you have to go through Frankie's free range Boots order separately that it made sense to give people a little sample for free and that would make up for you Whatever they had to pay for shipping on their first order. So again, what I said earlier, we have the prime marbled Prime rib that's going to be live today, and we will also have a moderate grade wagyu strip loin and although I Can't win man my now the compressor turned on for the freezer. I'm glad I got this new microphone Otherwise, it would be unbearably Latin here as it was, you know several months ago with the blogs So although the wagyu strip loin is less marbled. It's more tender It's just the nature of the breed of the wagyu cattle much more tender easier to chew which is nice Especially considering, you know strip loin isn't always the most tender cut of beef, but it packs a lot of flavor So that's going to be it for today guys We're gonna do the same thing next week try to get out all the orders on Monday as quickly as possible Same thing for New Year's week. So if you guys do want to order we are up and running unlike a lot of other meat companies and We went out to speak to some Amish Farmers last Friday, and it looks pretty promising. I think we're going to be able to get you guys Dairy and eggs sooner than later So that's going to be really really really big and then when we transition into processing our own animals on a larger scale Will basically be Frankie's Amish farm. So I'm really looking forward to that You know with the continued support of you guys We will make that happen slowly, but surely or well not so slowly, but surely So I'll see you guys for tomorrow's video You can check out Frankie's Syringe Meat Frankie Syringe Foods links to both of those are on frank-tofano.com Of course, don't forget to drop a like on the video leave Frankie boy a comment down below and click that notification Bell if you're not subscribed you guys enjoy the rest of your day


Hi, good morning and welcome to today's products and focus kind of a volatile session yesterday with the US 30 still closing down But off its session lows were close to 17 by 46. It's down again today Some week data coming out of the US last last night Has actually caused a rebound once again in the US US dollar. It's as weak and substantially big spikes and crude and gold Mainly the crude oil spike was on the back of the Iranian deal again being delayed for a second day Still on a bit of a knife edge right there and obviously the dollar weakness Compounded that move as well. So we'll talk about that in a second, but 17 7 3 8 is potential resistance on the US 30 followed by 17 5 46 of support getting very close to that death cross We've been talking about the moving averages They're quite close to crossing over right now, and we are getting a pattern of lower highs on the daily candlesticks as well Other technicals are relatively neutral with Matt the ages crossing the zero lines from a technical perspective US 30 is looking a little bit more Kind of negative in regards to that down. We're selling pressure. So looking at the UK 100 Very volatile session but big turnaround in the inequity markets with a lot of mining miners and oil Production companies getting a shot on the arm towards the end of the session. That's why is I performed the US 30 quite close to death Cross there as well negative today 67 71 being potential support to be aware of Usually this candle be a very very strong hammer formation to have at the bottom of the downtrend right like that, but We depends how the commodity markets Continue on over the next couple of days So if the US dollar continues to lose momentum and commodities begin to increase the UK 100 might actually have a little bit of a Stabilizing above 67 71 be able to target 69 or six again, but that's a bit of a big ask So moving on to Japan to do five looking at dollar yen as ever bouncing around 119 Yesterday, we do have a kind of a hammer formation there on Japan to to five we're on the right side of 21 period SMA Still quite comfortably within this kind of uptrend there just now. So it seems to be hugging that over the last five or six sessions longer term potential support remains at 18 648 with 20,000 not that far away But looks to be struggling a little bit as a dollar yen versus course as the end strengthens that will add a bit of a Damner to Japan to do five going forward. So we're we're sitting right here two down days now on Japan to turn the dollar yen I move back towards that 119 level seems to be on the cards Which would also coincide with the 55 period SMA other technicals are relatively neutral part of the MACD is gonna cross the zero line shortly So, you know 119 put five peps away right now. That's probably we're just gonna go ahead and settle Moving on to West Texas crude so big shot on the RMS to the up 25% it's up again a little bit today as the Iranian deal began to to stall was going into its second day past the deadline Some commentators seem to think that some sort of deal will be reached But other commentators have seen this this morning online are are expressing Doubt that there's gonna be any big change Until later on and spring so they might delay it again and say this does something things we got to work out and That would cause a short-term spike up on West Texas crude is that? You know they have already gone past that hard deadline that was set by the Americans And they've already overshadowed it over shot about two more days, so it might be a case of well There's still so many things to work out We should just you know work them out and that that would be seen as a It's a positive sign for West Texas crude that potentially deal is a little bit more shaky Nevertheless, all the other technicals relatively neutral, but that's currently where we stand We haven't been above the previous high of $50 on West Texas yet, but a slow creep higher this morning We're looking at gold gold did get a massive shot in the army yesterday on that really weak u.s. Data that came out Was a really weak, but it was a bit of a mess there incidentally, so We've now seen as ever those interest rate projections being revised again at lower trajectory That first rate hike going to happen later in the year if it does in fact even happen this year The way things are going right now with all the mixed macro data coming out of the US You're already begin to see that stronger US dollar impact a lot of their export data as well So 12 a team being potential resistance, which also coincides with 55 period SMA And we've got a little bit of up was momentum this morning It's ticking ever so slightly higher still in positive territory, but 12 a team be the next potential resistance And we do have a whole host of data due today as ADP private payrolls actually that work that came out yesterday That's slightly missed expectations. In fact, we just go back to yesterday We had ADP private payrolls and we had PMI as well PMI data Right here that came in slightly less than expected not a massive miss, but by any stretch the imagination But miss anyway, so finishing up with your dollar and GBP USD So your dollar again one spot zero seven eight six is potential support slash resistance also coincides with 21 period SMA Other technicals are relatively neutral Euro is love under pressure by potential weak exit I'll be it the finance minister of Greece has said that they will make their first payment to the IMF But the dollar has been retreating in all fronts on the back of the ADP payroll numbers and the PMI data obviously we've been for non-farm perils on Friday, which is still coming out even though it is obviously the Easter weekend there is a half day Trading day in the US and non-farm perils is coming out as normal So do bear that mind if you've got open positions heading into the Easter weekend So finishing up with GBP USD One spot for 813 has been in play for pretty much the last two weeks today is no different All the technicals are completely neutral We're flattening out and consolidating around this level 148 13 until we get a little bit more guidance from either US Maco data which is disappointing or or sterling data and we do have the election Coming up and 36 days, I believe and that should have a bit of an impact on Sterling while there's more uncertainty that will be a little bit weaker But if the conservators begin to take the bit of lead then sterling might take that as a positive sign So in regards to my data, we do have US employment data due today to a balanced data. I'll be fast forward on to Friday Non-farm perils as we mentioned and you've got Chinese PMI data as well So don't forget we still have non-farm perils on Friday Even if you're going to be out and about in a way this weekend So as ever keep your eye on the chart for making science part relate going forward and Join me again next week to find out what happened next


Hello everyone, welcome to Options with Doug. This is my live daily stream on Bookmap Discord and the Bookmap YouTube channel that begins at 1.30 p.m. Eastern time and Before I go any further. Let me go through the disclosures general disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations risk disclosure training futures equities and options involves substantial risk of loss and is not suitable for all investors past performance is not necessarily indicative of future results as a reminder my presentation and the options with Doug Channel and Bookmap Discord is very focused and the focus is options order flow the impact of options markets on Stocks and futures and the influence of market maker hedging flow on price action and futures and stocks I have a two-step process for trading and the first is planning and I use positional analysis And I look at how traders and market makers are positioned in the options market and How those positions change from day-to-day to develop a thesis regarding expected range and volatility for the day as well as a directional bias and I think that is a new different way of looking at the market as opposed to other approaches that many traders use like technical analysis and fundamental analysis and The second step in my process is execution and I look at real-time order flow and book map and Market maker hedging flow in spot Yamahiro and this is all also real-time to confirm my thesis and to find setups for the day and On-topic questions and comments are welcome and I will be watching chat in the options with Doug Channel and Bookmap discord as well as chat and YouTube Okay So that's out of the way and let's get started So today I want to my agenda the things that I want to cover is first go over position analysis And that's for the S&P 500 and then I'm gonna talk about the 38 35 strike. That is the currently the SPX call wall and that is also happens to be the Short strike of the JP Morgan collars. So that's the call short call strike That expires today The end of the quarter end of the year 1230 and I want to I've talked about that all week And we'll we'll wrap that up today and then I want to review the ES SPX price action yesterday and We'll take a look at what spot gamma projected in the Founders note yesterday and how the SPX levels came into play Influencing price action in the S&P 500 ES SPX and spy and then finally we'll take a look at some setups So let's go take a look at book map and This is the This is the S&P 500 futures ES The support and resistance levels that are in play are shown on this chart and I have two columns of Cloud notes The first is spot gamma cloud notes and these come directly from spot gamma. They're updated daily and There are Two let two types of levels here one is levels based on the SPX alone and Those levels are converted to equivalent ES prices So right now spot gamma is adding 25 points to the SPX to come up with an equivalent ES level and an example of that would be the The put wall here. That's the SPX 3800 put wall and that was noted as support in the AM Founders note and I marked that in my Cloud notes column so in that column I marked the support and resistance levels that are Noted in the AM Founders note as well as Spy key gamma levels And then also ES big round numbers the zeros in the fifties So that's what I'm showing here in these in these notes so the support and resistance levels are Again noted in the AM Founders note so the support level that was in play today was the put wall 3800 and Just By the way, does anybody know what and there's a question for me to turn up my volume. Is this better? Can anybody is anybody else having difficulty with volume and let me check on YouTube? Okay, David Hello, glad you're here and So I've got one okay for volume and Then another low sound so as far as I know nothing has changed on my end Let's see if there are any more comments Okay, so mostly on discord. I'm getting Volume is good. There's I don't know of any way to turn up my volume on the microphone. So I've got the the microphone right in front of my face so Okay, so I think it's it's okay. So just does anybody know what what happened here right at Right at 115 Eastern time this big drop Was that news the only thing that I could could see was This right here news about the Fed reverse repo so that's the only thing that I saw and There's a question did the UK session closed and the session UK session closed earlier That's my understanding the the last time I checked the 24-hour market clock European markets closed at 11 30 p.m. Eastern time. That's that's my understanding of when they're when they're closing So anyway, this is the only thing that I saw and it could be Low volume thin pre-holiday trade combined with Any news about the The Fed so again, this is all I saw But it looks like So it looks like ES went down just below the put wall 3800 put wall and the combo L2 level and that combo L2 level is a combination of SPX and spy levels so price dropped quickly to that level and then Reverse back up to the 380 spy 380 put wall and now it's dropping down again so it looks like this This 380 put wall has been in play today and then now the 3800 put wall so the spy put wall and the SPX put wall and most of the volume is concentrated so far today for the session between the Really this combo L5 level and the volatility trigger and that is the SPX volatility trigger at 3825 which lines up with the ES 3850 so pretty much a lackluster day in in the S&P 500 today More of a range day range day chopping back and forth Now regarding shifts and levels so those are the levels that are in play today and regarding shifts and levels the SPX put wall if you call recall yesterday he dropped down to 3700 and I think it jumped back up to 3800 and Then also the spy put wall As well as the key gamma strike both increased from 375 to 380 So that This 380 put wall and I forgot to change my Cursor size give me just a moment. I'll Make this a little bit easier to see Okay, so that should help so I'm talking about the the 380 put wall and the 3,800 put wall Being in play and especially the 380 put wall and all the volume is concentrated between that level again and the volatility trigger and shifts and levels So I talked about the S&P 500 the put walls SPX coming back up to 3,800 and spy coming back up to 380 and then the QQQ volatility trigger Drops slightly from 280 to 270 and the call wall drop pretty significantly from free 10 down to a more appropriate level at 274 so that is the That's what's in play today the playing field and let's take a look now at the S&P 500 charts and we'll see the levels and the absolute gamma levels So this is the SPX Absolute gamma levels and the black lines above the zero line or is call gamma and The teal lines below zero are put gamma So there's the first significant level at 3,800 and that is the put wall for SPX and then here is that 3,835 call wall strike that we've been talking about all week again That's the short strike short call of the JP Morgan collar then there's the Where's that here the 3,850 level which has been important resistance this week And you can also you can see that's a pretty significant level as well 3,900 and then 4,000 remains the absolute key game or key gamma strike or absolute gamma strike And that's the strike with the largest Absolute gamma so that is the playing field for SPX and for spy 375 Yesterday that was the put wall and now the put wall has jumped up to 380 and that is the That is also the key gamma strike So the put wall is the strike with the largest net negative gamma and the again The key gamma strike is the strike with the largest absolute gamma So that's a very significant level and there's 385 the volatility triggers just below that at 384 And then the call wall at 390. So there's the playing field in the S&P 500 Now let's take a look at at some of the data This is from today as usual. I'm going to take a look at Gamma notional and this shows market makers position on the gamma curve and Today gamma notional for both Spy and SPX became less negative So yesterday SPX gamma notional was minus 651 and today it has moved up to minus 304 and yesterday spy was a pretty significant minus 23 26 and Today it's minus 1594 And there's a question. How do I use that info? Okay, so Gamma notional does not have any implication for directional bias It has an implication for Volatility and expected range for the day Again, this is showing market makers position on the on the gamma curve now it could in certain instances have a Bearing on directional bias like at at an expiration or ahead of a key event like a an FOMC announcement or Or an economic data report an important one like CPI and I've talked about that in the in the past how that can lead to a Put Vanna rally, so let's just talk about time or an instance other than that just every day and this is indicating that when Traders are long puts Market makers are short puts and that is in the negative gamma environment and There and we'll look at the Vanna charts and the Vanna chart shows this graphically In a negative gamma environment Market makers have to hedge in the direction of price so since their short puts if SPX and spy drop Market makers delta exposure increases they want to remain delta neutral so they have to sell futures to hedge their delta exposure So they're trading in the direction of price and as price increases they can buy back their Short futures, so they're trading in the direction of price again Both up and down and that tends to increase volatility with market makers Enhancing the the price action in either direction So that is it's important to know how market makers are positioned on the gamma curve and again right now They are negative gamma and it's a negative gamma environment And they are trading they will have to trade in the direction of price to hedge their delta exposure So the implication is just for Expected range and and volatility for the day and We can just to illustrate that let's take a quick look at the Let's go back and this so I was looking at gamma notional and this Spot gamma gamma index is related to that so as Gamma notional moves so does the spot gamma gamma index and We can look at This chart right here. I I think we looked at this yesterday, but this helps to explain This is This is the zero line and what this is showing is the one-day return It's actually the one-day forward return positive above and negative below and then this That's the vertical axis the horizontal axis is showing the spot gamma gamma index and you can Substitute gamma notional in here. So what this is showing is in a in a negative gamma environment notice that the Expected range for the day plus or minus increases Becomes more volatile So it doesn't apply imply direction. It just implies volatility, okay, and Another way to look at that Is the Vanna charts and this shows market makers Delta notional or Delta exposure with changes in price and that's shown on the horizontal axis and Implied volatility and that's shown by the green curve. That's the current expiration and That is showing the Vanna effect and Then the black line shows the changes in Delta exposure as time passes and that's the next expiration and that's a charm effect So I think this is a very easy to look at visual Representation of what I was just talking about and what this is showing is That as price Decreases Market makers Delta notional Delta exposure Increases and they have to sell futures to hedge their Delta exposure and I just drew a line Kind of an approximate line through this green curve It's usually parallel to the black curve and that is showing again market makers Delta notional Delta exposure so this a Curve sloping up from right to left is typical and a negative gamma environment and we can look back and see how that has changed Over the last couple of days So just looking at yesterday you can see how That has shifted down that curve and I just look at the slope of the line and the same for spy yesterday and today Okay, let's take a look at That's my positional analysis so based on this I'm looking at a looking for a A Volatile day wider trading range, but less than yesterday because of the decrease or Geminotional becoming more positive and let me just check for questions on YouTube Okay, David said something about I guess bond market related to the news No, I don't know the only thing that I saw was Was related to that the Fed repo market Okay, so let's talk about the 38 35 strike Now I said Truman asked When traders are short puts Market makers need to hedge with long puts So what I think I said what I meant to say is that traders are long puts and Market makers are short puts So traders are buying Puts from market makers market makers are selling the puts. That's a positive delta position and Their delta exposure increases as price drops. So they have to sell futures to hedge their delta exposure All right, so what I want to look at Now is Let's take a look at a note first. This is from the This is from the AM founders note today spot gamma AM founders note noting that So they've been talking about this JP Morgan caller Related flows all week talking about flows and other large year-end flows entering the market today and Further compounding that is holiday liquidity and that's certainly what it looks like to me and so indicating that the 38 35 pin which was definitely in play today is gone now. So let's take a look at that and just Just for follow-up through just because I've talked about this all week. I want to Want to kind of wrap it up today So That's not what I wanted to look at Let me just open up the correct one so I started looking at these on On the 27th so on Tuesday So this is the this is the spx Call gamma. This is taken from thinkorswim and showing the gamma curve for the next Four uh weekly expirations and the pink purple line at the top is the 12 30 this today this expiration and then the next three lines are the next Three Fridays after today. So that is the january 6 january 13th and then january 20th And this is emphasizing and this notice this peak is right at that 38 35 um spx level So this is from the 27th And what we'll see is how this the influence of this well just to point out that That jp morgan is short this strike. So market makers are long So this is in this area More of a Gamma dynamic comes into effect where as price increases Market makers delta exposure increases and they have to sell futures as price rises and the opposite as price Drops they have to buy back. So they're In this case, they're hedging against price action and that can tend to tend to cause a pinning at this level So that is from the 27th and we'll see how the influence Changes from day to day Becoming stronger at the peak and weaker at the wings and by the wings. I mean further out away from that strike So that's the 27th And there's the 28th the next day So notice how the peak went from around point zero six 2.007 So that's the 28th There's the 29th. So the peak is increasing while it's becoming more narrow So the influence of this strike is decreasing further away from the 38 35 level and then finally for for today and notice how narrow it is and I Each of these plots I plotted the same range from about spx 3300 to 4300 So notice how steep the peak is but the influence. So again spot gamma is saying they think the The pinning effect of this strike today is gone And it was certainly in play yesterday As we'll see so yesterday And let's go back to one thing I want to take a look at is This is the this is from yesterday. This is from 1229 the am founders note for spot gamma And they posted this chart So I just want to make sure everybody knows this is from yesterday and Now I've got a Well, this is about the same size we so we can go back We'll just look at it here And what this is showing this is the This is the 3,800 strike and that yesterday remember the put wall was down at at 3,700 yesterday for spx So further down, but this is the spy put wall And up here is the The 38 35 strike So this is the The area of interest and the reason I'm showing this is just to show how important it is To keep track of these levels In spx and spy And how they have such a strong influence on price action in the s&p 500 Including the es futures. So the point here is Showing above. Well, let's start with below. So Starting below at the 3,800 level up to 3,885. They're calling for pinning flows. That means they're looking for With price spx above that level. They're looking for price to pin at the Around the 38 35 level and again, this is all spx levels and then above that They're looking for selling pressure at that level down back To 38 35. So pinning flow or bullish buying pressure Below that level down to 3,800 And then selling pressure above that level Leading to a pinning effect. So that's what the spot gamma was calling for yesterday morning And then let's take a look at How the day played out yesterday And This is the That's the 38 35 level the call wall The 3,800 level and then this is the ES 38 spx 38 50 level So all those levels were definitely in play today and I pointed this out yesterday The reversal Drawings all over the place here. So I pointed this out Yesterday the reversal higher at the 3800 level and this happened before the rth open And notice the the bullish order flow up to 38 35 And above and then pretty much stops And is contained by the 38 30 38 50 level which was actually noted as a significant resistance level yesterday In the am founders note and then ultimately by the 38 384 spy volatility trigger so again, just an illustration of the importance of Keeping track of those spx levels and their significance on Price action of the sp500 You know whether that's spx spy or es, you know, whatever you whatever you trade These those levels and the influence of the market options markets on the sp500 was definitely Important yesterday All right, let me check for questions Let's go Let's go take a look at book map Let me check for questions in youtube Okay, no questions in youtube And panamats just just stick with it. It takes time to to understand You know the key point here so far is that The options market has a strong influence on on the sp500 most days And it certainly did yesterday and that was a clear illustration And you know, I think we're seeing it again today the significance of the the spx and spy levels for trades in nes Okay, and there's FTW trading group posted news about the jp morgan Roll their collar to the march 30th. So that is the march quarterly expiration So those are the strikes Okay, thank you. All right, so let's Let's take a look at some setups here. So let's go to spot gamma hero And this is the es So this is for today And what this is showing is and this is pretty typical of the s and p 500 as price drops Traders start taking bullish positions, so they actually started buying calls at the open and continued As price dropped and then all the way to price went up to You know, it looks like This is shown in terms of es or s spy prices here Up to this level. We'll take a look at book map In just a moment. So this is a divergent setup with calls. So traders were buying calls and this is Most likely all spy calls And initially they were buying puts and then started selling puts At least for a portion of the move higher So it looks like primarily calls. We're driving this price action. So For anybody looking for a divergent setup There it is So that is the the morning setup. Let's go take a look at at book map again and there's that There's that setup in the morning So the reversal happens above the the put wall But the water flow shows it pretty clearly note the Pink dots the aggressors sellers taking price down to the liquidity here At the 38 30 level the es 38 30 and then the Green dots coming in the aggressor buyers come in As traders are buying calls And move price up to the volatility trigger And at the same time these lines In the sub chart are showing iceberg orders And that is the blue line and i'm showing these in in summation mode And also there are some by stops firing and that's shown by the yellow line And then the pink to dark blue line shows cumulative volume delta So Those they were rising slightly and then this large order iceberg orders come in And then This 522 those are by stop orders So there's Fueling that final move up into the volatility trigger So there's the setup in es Let's just go back and check Make sure we have the correct time alignment and yes so that Move higher starts around 9 50 before 10 a.m And goes up until about uh an hour later Let's just go back and check So yeah 9 50 it starts And then the the final peak is Just around 10 50 And that's really one trader start a stop buying calls Let's take a look at the total signal again So looking at the purple line that's put some calls and that is for spy and spx But most likely mostly spy and we'll take a look at spy And just a moment So i'm looking at Hero the purple line Making an equal high there And then making a lower high As price is dropping So options trades Driving price however higher Then showing the The peak And then and then starting to fall as options Trades become Negative negative delta Okay And there's a question about iceberg orders Let's go back to book map So this again i have my sub chart Stops an iceberg shown in some mode So the spike just shows a big order here if that's what you're what you're asking And that is that order here And there was one other One other large order here. I've got the Let's see if I can Zoom in on this a little bit So that was about 3 000 right there and you can see by the the sloping The increase in the blue line And the yellow line Again a summation mode and it's showing so The this is the mbo Market by order Indicators from book map And there are two components the sub chart and The on chart indicators and I look at both So I have the sub chart indicators in In some mode and that's showing this cumulative Uh a fact of stops and icebergs and then I have the events Shown on the on chart indicators And that is shown Here I have the icebergs Shown in in blue this Blue and Let's see if I can find a Cell iceberg and I don't see a Let's see if there's one further down I'm looking for an on chart So here's one right here See this I got a horizontal line again. Sorry about that All right that I kind of a little wavy icon with the teal or the I'm sorry the pink purple color That is a cell iceberg and you can see the Decrease in the blue line there showing the same thing same thing. So that is the Those are the iceberg orders the the blue And the pink purple Showing on chart and then the blue line is showing the the light blue line is showing icebergs in summation mode So showing the same thing same thing just cumulative effect In the sub chart and the events on the on chart indicators and Now for stops That is shown by the yellow line and these are just my colors. This is what I have chosen to use to look at and I have So these are cell stops Yellow line dropping and you can see these red circles here 158 125 135 So This is a little bit off topic There's not much to look at so i'm spending a little bit of time on this uh You know, I refer you to uh You know other book map webinars. There's plenty of information Bruce talks about it. Of course scott pulsini talks about it. He's Does an advanced webinar every every thursday And then bruce does his webinars monday tuesday and friday all at 10 a.m So You know, you can watch those or look at the uh book map youtube channel for more information on on stops and icebergs so let's Let's go take a look at spy And I want to look at hero So pretty much the same as es And that has been the case recently that looks like spy options trades driving And actually there's been an issue with spx and heroes. So I Can't see that So same thing traders buying spy calls This is just like the uh The es chart so another Divergent setup again and spy es However you want to trade it spy shares spy options es futures And just quickly there were I didn't see much today so end of the You know end of the week end of the quarter end of the year pre-holiday trade pretty pretty light Especially compared to yesterday when there were so many strong uptrends with traders buying calls in many stocks So maderna Pretty strong correlation between price action Options trades. Let's take a quick look at book map. Right. Let me check for Check for questions in youtube And jonathan ask have you heard of the jp morgan collar trade? Yes, I've been talking about it all week And talked about it Earlier today, I'm glad you're here for a live session and I talked about it earlier today and all last week and my my sessions on YouTube are recorded so you can go back and and look at the beginning of the session today or Any of the past sessions this week? I've I've covered that extensively Okay, so this is maderna Nice steady uptrend a lot of pullbacks Uh made for good entries here and let's go look at So again strong correlation as usual Between price action and options trades in maderna and the next was microsoft And today, uh, although there was not much range. There was also Strong correlation between price action And options trades although it seems to be lagging just a little bit on this uptrend Let's take a look at book map And really the only notable thing here Uh was the this 240 key gamma strike And the liquidity up there Being a potential target if price had continued higher And as usual netflix is pretty volatile And I don't believe there are any Any gamma strikes I didn't get to update the uh my cloud levels for all the All the stocks they were the uh equity hub equity hub updated late So I didn't have time to get all those levels in So anyway, there are liquidity levels at 290 and 295 at play and let's take a look at hero netflix And netflix is another stock that has high correlation with options trades price action And qqq And this is one that I wanted to highlight. So remember we saw a call divergence Set up for a reversal hire and spy And the same thing here in qqq In the morning So traders buying calls from the open price dropped and then Reverse is higher Let's go take a look at book map now So there's the reversal hire in the morning session If you were fast You might have caught this first reversal As aggressive traders see the green dots come in there These dots up just a little bit So you can see the buy sweep and the green dots coming in And then the first pull back to the 263 level And then the 265 Key gamma strike And play there and that was the target So really this The qqq trade and the spy trade Were the were the best setups that I saw today So there's the qqq trade. Let's go back and take a look at at hero once more So again, there's the There's the long entry First the divergence You know the sharp increase both traders buying calls and selling puts And then they continue to buy calls As price reverses higher Okay And There's a question Let's see a comment from panamets. I was chasing it gave up. I thought the price was too high I don't know are you referring to qqq Anyway in general I don't use fundamental analysis. I use position analysis So es You know, whatever maybe You know, maybe relative to You know fair value for the day or something like that, but I I only consider price too high if it's trading above the call wall So that was the case yesterday is price was trading above the call wall and The you know the es chart that I showed for yesterday showed What happened when price price was trading above the call wall Uh, it was You know kept reverting back to Close to the 38 35 level And again, those are spx numbers Okay, so there's the setup in qqq Pretty similar to spy You know another good setup And finally, let's take a look at tesla And tesla's another stock stock with this Very active options markets and Oh, there's a question about numbers in the qqq block orders and those You know the only way that you can come up with those numbers and I didn't I don't I don't recall noticing a A block order you would see a vertical line In a in a block order. Well, I'm not looking at hero on On book map if that's if that's what you're talking about Uh, I have turned that off that will be discontinued At the end of this year. So today's the last day for book map hero and I've taken it off my charts For some time. So, um This is the only version of hero that will be available in 2023 All right, so I I don't understand your question The number in the book map chart All right, so let's go Let's go back to book map All right, so I I assume you're referring to these numbers the um Okay, those are the absorption and sweep indicators and There are two sets of uh indicators absorption And sweeps so absorption is passive orders. Those are Resting liquidity and they are showing Again passive buys and sells and I have Those numbers that I use the numbers that I chose. See this pink line here Peak number is a passive Cell absorption Just disappeared. So a bigger number came in For buy sweeps and sells I use green and red So this is a buy sweep here and typically you would see a a pink absorption at the end of a green buy sweep So what I'm showing here These are the the absorption and sweeps indicator All right, then we wanted to look at tesla and then uh, then we'll wrap it up And for more information more questions about the absorption sweeps again, I refer you to the Bookmap youtube channel Take a look at the features and components playlist that is You know not my focus again my focus is options So this is tesla Very fast Move up in the morning.  So they're you know again aggressive market orders let's just So here then the these pinkish purple Dots and actually this number right here. This pinkish purple number is showing the absorption So anyway, the setup was clean this up a little bit price making lower highs You know potential entries that sell sweep the red dots And then the aggressive sellers are coming in with the You can see that with the pink purple dots and the same here And let's go take a look at hero And really the level and play is the 120 key gamma strike for the move down Look at hero. Oh, that's qqq. Sorry tesla So if all else fails if you can't find anything to trade Tesla is always a good go to And it always has a very strong correlation between options trades and price action and it's Rare to see a divergence and tesla almost always trend confirmation One to one so market makers are hedging options trades in And tesla immediately So there's the There's that short setup. Let's just see if we can gain any information by looking at puts and calls So it really looks like At least Right now. Let's i'm going to change this to see if that adds adds any more clarity And yeah, so I just changed the rolling window and I I can You know, so this is now instead of a one day look back period It's looking back just 30 minutes So it's like a shorter moving average and showing that Here traders were Selling calls and buying puts so this reveals a clear divergence setup for shorts here And here and let me check for any final questions Okay, so Again, all else fails go to tesla. You can always find something to trade go to book map So there's the setup And let me just check for any final questions on youtube And jonathan ask are the put and call walls? Dynamic throughout the day or is it static? The levels may be changing During the day, but there's no way of knowing that information most of the data that Or most of the information that spot gamma provides is based on An open interest which is updated once daily sometime during the night. So all those levels are generated Based on that information so the Information that we have is just a snapshot in time of basically the close from the prior day So that is all these all the gamma strikes The the five key daily levels for equities as well as all the gamma levels In spx are all generated once daily Okay, so that's it My time has passed I need to wrap it up So I want to thank you for watching. Thanks for your questions and comments and I you know hoping for Good start to next year as the You know traders come back and markets. Hopefully we'll see some nice nice volatility next year. So again Thank you for watching. Thank you for your questions and comments And I will see you next year. Thanks again. Bye