Live Session – May 12th 2025

[00:01:46.11] - Speaker 1
Welcome everybody. Hello, Jordan. Welcome everybody. Before we start and sharing our stream, please take care of our risk declaimer and we will wait a few minutes and then we will start.

[00:03:01.21] - Speaker 1
All right. I hope everyone feels good today. Jordan, how is going on your side? Hope you are also good. New week, new opportunities. We're getting already some new scandal with the terrorist news. So terrorist was moving the market as usual. I personally take no position now. I will see how the market will react on this. Auto options playing around with the news now. So it's Monday. If you have any questions, let us know. You can write this in the chat and then we are ready. All right. Also welcome Steve.

[00:04:01.12] - Speaker 2
Hey.

[00:04:01.21] - Speaker 1
Hey. Thank you. I will take a look for our pro members who are here. So give them open mic. Welcome Jesse Jordan again. Hey, good morning. Good morning. Welcome Patrick. Welcome Scott. Good morning. If I miss someone, please rise the hand and then I think we should be good. All right. Wait a little bit. Someone is rising their hand. Let's see. All right, Steve, how was your week? Week things good. It's good and good, good, good. You're refreshed? Yeah, yeah.

[00:05:17.10] - Speaker 2
Well rested. Been watching this tariff stuff.

[00:05:21.06] - Speaker 1
So yeah, I was watching all the weekend the terrorist news. But man, and then I was thinking, okay, at 10 o' clock European time I will come usually. Usually they were announced some news the Chinese. But this was one hour before stupid. I missed a completely move. Well, it's okay. So let's see. So only two minutes in the market. So personally I will wait. Nothing happened before.

[00:06:43.13] - Speaker 1
And it's good when we become so in a live trading session also with the pros for everyone who's in premium and joining us now we are very often really calm. So that's when we all focus on our trades. So that's nothing. What is unusual. So calm be patience and execute your trading plan.

[00:07:38.18] - Speaker 1
Hey, welcome Maximilian. Ahmed. Welcome. Good morning. See if this will be a good morning. But I'm good. I'm ready. But I will not get involved too quickly. Friday we get the lessons we was into quickly and then it was trouble. So today it's more be patience.

[00:08:42.20] - Speaker 2
I actually have an appointment this morning. So maybe like chilling with this crew.

[00:08:46.24] - Speaker 1
For only a few minutes. If that.

[00:08:52.06] - Speaker 2
If that happens.

[00:08:53.00] - Speaker 1
I'll see you guys tomorrow. All right. This could be really interesting. There. Have a long order on 51815 on SPX but I'm not filled. I like this area. Why I'm liking this area. On the last time we was bouncing there very well. But in the moment it doesn't look like this. So let's see. Let's see and wait. No market orders on my end. Hello Jordan. Welcome back. Thank you.

[00:10:12.09] - Speaker 2
Can you hear me now?

[00:10:13.13] - Speaker 1
Yes sir.

[00:10:15.01] - Speaker 2
Okay. My chrome locked up and I couldn't get in.

[00:10:21.22] - Speaker 1
Sometimes this happened. Yeah I told the people on Friday we was in too early and then we must find ourselves in a little bit trouble. But it was managed us very well. So that's why today on my end a little bit more patience waiting before we see something. Also on 5800 we have core resistance. Let's see how they're reacting there. Possible profit taking also nice short opportunities there. But for me I was not involved in this for. What is with you John?

[00:11:14.21] - Speaker 2
Nothing, I was just trying to get on so kind of trying to play a little catch up here. See let's. We we sold out of or we moved above all the men or Q levels the end of day ones.

[00:11:34.17] - Speaker 1
That's why I have to SPX levels on. Yeah you can convert this easily your end if the indicator. I won't see that we hitting the core resistance and then see the reaction now.

[00:12:02.07] - Speaker 2
Are you still trading Es? Is that what you're looking at still?

[00:12:05.09] - Speaker 1
Oh spx. Yeah yeah. I have SPX on my shot and also gold. So if I be in trouble I can hatch possible with gold or if I see something on board happened I can flip. So because it's really interesting we have also the high wall area using the GZ converters to gold and let's see. But again the market is. Open for a few minutes Also if you're looking to the vix the WIX came down from the put support really strong. That makes sense. So let's see possible we see some some correction and my stop order buy stop orders in 5, 8, 15 then I will be involved. And again guys if you have any questions type something in the chat. We are here to answer this. No worries. And if I miss some pro member and you have not the ability to speak rise the hand and I will give you open mic also. So what we have today on our economic calendar what's happened? So Trump holds press conference at the moment he's speaking and Fetz Kukla speaks at near one hour and then we have the bull auctions and that's. But what we was learning in the last few weeks.

[00:14:56.16] - Speaker 1
Jordan, the market can surprise us anytime. We can have any big candle in few seconds. Boom. And we don't know why.

[00:15:07.05] - Speaker 2
We do know why. We just don't know when.

[00:15:10.24] - Speaker 1
Yeah.

[00:15:14.22] - Speaker 2
The why is Trump the win is we don't know.

[00:15:18.22] - Speaker 1
Who knows? All right, see if we get to the core resistance. VIX is.

[00:15:28.00] - Speaker 2
VIX is going way down today.

[00:15:34.05] - Speaker 1
That's good. So that's the 99. Normally, if the weeks came down, the market goes up, but not always. Sometimes it's weird, sometimes it doesn't work. I would love to see if we touch the call resistance, break the core resistance and then we going back to the upside.

[00:16:22.15] - Speaker 2
It.

[00:16:50.15] - Speaker 1
All right, my next buy stop, orders on 5, 8, 10.

[00:17:32.04] - Speaker 1
Oh, no, we speak now. We came with core resistance. Let's see if you something. If you see something on your end, Jordan, let me know. So I think it would be also really interesting.

[00:17:47.19] - Speaker 3
I think.

[00:17:48.06] - Speaker 2
I think we have a ton of Gamma above us and a ton of Delta below us. Positive. So I think we're going to eventually rally. I mean, we obviously already have a lot, but I don't think we're gonna head down too much. Yeah.

[00:18:16.08] - Speaker 1
I built my position already here. So if I get food, it's good. If not, everything is fine.

[00:18:25.11] - Speaker 2
So I, I added something today over the weekend that I'm looking at them. I pulled up the footprint chart and I'm looking at it as to looking for trapped buyers and sellers at mentor. Q levels for, you know, for rejections for the scalps.

[00:18:42.24] - Speaker 1
Right.

[00:18:43.23] - Speaker 2
So instead of letting it just blow through, I'm gonna look in.

[00:18:50.18] - Speaker 1
That's good. So I get food on my end.

[00:18:53.01] - Speaker 2
Let's see.

[00:18:53.24] - Speaker 1
Yeah, that's good. You can share with us what you observe.

[00:19:14.02] - Speaker 2
Being a good trader, I guess, is all about learning and experimenting.

[00:19:18.22] - Speaker 1
100%.

[00:19:23.03] - Speaker 2
Never stop learning.

[00:19:25.11] - Speaker 1
My mentor tells me over the weekend if you are surprised from the market, you're not experienced enough. So this was a good call from him.

[00:19:38.06] - Speaker 2
Yeah.

[00:20:10.19] - Speaker 2
Patrick, it's just used screen sharing this morning, I think.

[00:20:13.24] - Speaker 1
Yes. Okay. I don't see Peter.

[00:20:19.04] - Speaker 3
I didn't either.

[00:20:19.23] - Speaker 2
That's what I was checking. I am saying negative options.

[00:20:30.12] - Speaker 1
Flow though. Yeah, I'm battling that. The call that the call resistance will be holding. Yeah. But if it's not holding, it makes no sense anymore. So let's see.

[00:20:46.12] - Speaker 2
And the Mag 7 looks to be about 50, 50 as far as flow.

[00:21:03.01] - Speaker 1
We were seeing this in the morning also. We came all the way down when we test them. Five, eight, hundred and then boom, we came the way up. That's why I'm thinking could be also happened. Yeah, that's why I'm playing a little bit around with my position building, not taking big size, only building your position. And then.

[00:21:23.18] - Speaker 2
Well, I also think there's a lot of profit taking that's going on this morning.

[00:21:27.04] - Speaker 1
Yeah, 100. That huge move overnight, I think also. Yeah. As long we're not breaking to 5790 or something like this, I'm good. Translating my position size. At the moment I'm in with one mes. So it's the same value like me as nothing big, only testing. If it works, we can add bigger and then let it run.

[00:22:53.06] - Speaker 2
We're also right above vwap. The. That's right. Vwap and blind spot 8 are almost exactly the same.

[00:23:19.16] - Speaker 1
Yeah, I'm good. So as long we holding the call resistance not fall below 5790. I feel good. And again, always small size, nothing big. And that's it. It.

[00:24:13.24] - Speaker 1
And I see today again, if I'm looking to the options order flow, I see that if you're looking to volume buyers means sellers. So we have strong selling and the delta goes up. So that's something where I'm looking also why I'll be feel a little bit more comfortable in my long position because.

[00:24:39.22] - Speaker 2
The sellers are getting absorbed.

[00:24:45.14] - Speaker 1
Yeah, basically. Basically, you can also sell what's premium. Oh, again, sorry, go ahead. No, Patrick, you said here long with one mes or es. So I'm trading spx, but I'm long on 580 10spx. So for es this means 5.8spx. Okay, I got it. This makes. I was like, oh, Patrick, is, is, is trading mes? No, no, no, no. But I'm trading 0.5 lots on my side because at the moment I'm trading CFDs for some reasons. And this is the same value like 1 mes. And one. One of the good reason why I'm trading the SPX and not the ES because of the options data. So I, I fully understand now why the SPX could be making more sense as trading than NASDAQ basically based on options data. So it's crazy. That's why I was switching to CFD and not going to the futures because I have the same price values what I'm seeing on spx. Yeah, that makes sense. Well, Jordan was right.

[00:26:43.09] - Speaker 2
I'm going to record that and let my kids listen to that.

[00:26:49.13] - Speaker 1
What?

[00:26:49.21] - Speaker 2
You will record that I'm right. He said I was right.

[00:26:54.12] - Speaker 1
Yeah, you were right. You said, you said it's going to rally you. Here you go.

[00:26:58.14] - Speaker 2
My kids always tell me I'm wrong, so I'm going to let them. Somebody says I'm right.

[00:27:05.07] - Speaker 1
That's nice. I like it. Oh my. Basically, my son knows if I be wrong, I'M right.

[00:27:24.06] - Speaker 2
That's good.

[00:27:35.13] - Speaker 1
All right. So look at this. We are good. All right. I will take some partials, put this to break even so we will not lose on this trade anymore. We will win. It was taking partials. That's good. That's what I'm love. But by the way if he was short before congratulations for every everyone who taking the show. I was not taking it because last few days the morning gives me some worship. And we out. Oh nice. Taking our first profits. Now we can work on the next plan. What we really like to see. John, what you like to see.

[00:29:23.10] - Speaker 2
Hold on one second. I'm putting the the spy and the QQQ on my char. Oops.

[00:29:42.09] - Speaker 1
You know Patrick, I'm. I'm loving the European market finding much better than the U.S. i mean it's. Yeah. Thank you.

[00:29:55.10] - Speaker 2
When you say European, are you talking about the dax?

[00:29:58.21] - Speaker 1
He says you're. No, no. So. Well, sorry. I mean the you know the time the Globex made things.

[00:30:05.22] - Speaker 2
Oh, okay.

[00:30:06.14] - Speaker 3
Yeah yeah yeah.

[00:30:07.15] - Speaker 1
But there are some statistics so that you for. But I think the statistic is only for stocks and ETFs over if you overnight you make more profit than doing the market. I believe that. Yeah. Yeah. I was trading also the European session before. I think I was not bad today. Yeah. So US$500 profit for today. Nothing. All right. Let's see what we can possibly get what could be interesting. 5. 5800 is already in play. But for the long on the 5800 I want see first that we're going through of this and then maybe we will retest this. Otherwise it would be not a good opportunity. And my point of view, Where do you look for the real time order flow? So Cam, thank you for your question because we are here on the mentor queue session. Take take a look into to Google and search for real time order flow. Me and also Jordan we're looking in futures real time options order flow. We're looking into ETFs indices. So there are a bunch of tools outside where you can have this. Of course no promotion for other tools here or feel free to join us in the pro session when we have our group mentorship.

[00:32:43.16] - Speaker 1
There's no recording everything what we talking about this is is private and there could be a good opportunity to give you more information about this. By the way, thank you for your understanding. All right. I will see the 5800 test. It. And yet. It was good to take the profits earlier take partials and then take the other ones other piece.

[00:34:22.05] - Speaker 3
So.

[00:34:37.20] - Speaker 2
I'm still liking the upside here overall.

[00:34:41.02] - Speaker 1
Yeah, yeah. I'm liking. I'm looking also more for the long side. I can be wrong. Of course, everyone can be wrong. But.

[00:34:54.09] - Speaker 2
You told me you're never wrong.

[00:34:56.20] - Speaker 1
Yeah, for my kids.

[00:34:58.10] - Speaker 3
Okay.

[00:35:01.07] - Speaker 1
It's only for my kids. So if you're recording and I'm wrong, I'm in the trouble. So let's see. Can we go in again?

[00:35:14.16] - Speaker 3
Hi, Patrick.

[00:35:16.10] - Speaker 1
Hey, Fabio. Welcome.

[00:35:19.03] - Speaker 3
How's it going?

[00:35:21.05] - Speaker 2
Hey, Fabios.

[00:35:23.07] - Speaker 1
I guess taking our first trade and that's it. So patience. So me and John, we was. We was talking about the patience what we should be have. Yeah. But when you hear Fabio, I think we have now the update from the Gamma level. So with the over opening, maybe it's a good time to give us some preview what was changed?

[00:35:57.12] - Speaker 3
Yeah, let me see.

[00:36:01.02] - Speaker 1
I will stop sharing for you guys because then you see only Fabio. It's better for the recording. There we go.

[00:36:17.12] - Speaker 3
Let me see if you can see it. So yes, if we look at the spx, of course we have. There's a lot of positive gamma from the morning. So this is the 935 snapshot. So the first snapshot after the opening and of course we can see the difference. So clearly the position this morning was quite bullish. A lot of like positive gamma. We can see it here and the volumes are quite high. We have 40, 60 million here in Gamma there. Let's see if we have our. This was a zero. It is for ZT options here. We have basically no negative comma on this side. So very interesting. And then of course here you have some. Some clustering of negative gamma to the downside here. But overall, yeah, we are still in a positive Gamma condition as well. So you can see here how things have changed. So we were in negative. Here is showing you the Friday. Right now we are in positive gamma. So this is the intraday snapshot.

[00:37:39.21] - Speaker 1
And also Fabi, if you're looking now to the spx with the intraday before there was only the core resistance and now we have call resistance. Gamma wall zero DTE core resistance UDT. Jordan, Mimi was speaking about the 5800 before a few minutes and I think that's at the moment the key. So if we can hold this, it's. It's. It would be very good, very powerful. Think about, don't. Don't buy from the top, buy from the bottom. This could be an interesting opportunity. Must this work out? Of course not. Because if we fail to hold this, it could be an also really interesting Short opportunity. But the 5800 is at the moment where we should be focused on. And Also on the 5, 18, 10 we have now, the G3, this was where we are now. So we are in a range between 820 and 800 on SPX. So yeah, be careful there.

[00:38:40.21] - Speaker 3
Another thing to notice, Patrick, I think if we go back to the end of day and let's go back to Friday, there was a lot of gamma expiring on Friday. So I think it's always helpful to understand these mechanics because if we look at Friday. So the move that we saw today is also sometimes can be explained by, by this. So on Friday we had about 13 of gamma expiring at the end of the day, which actually was higher what we have on the OPEX week. Right. So a lot of gamma expired on Friday. And of course, as you know, when that GUM expires, market makers do not need to hedge those options any longer. That can cause also an inflection of movement that we see. And I think what we see today is also kind of like a little bit influenced by that expiration.

[00:39:43.21] - Speaker 1
When you will see the last time something like this where you can remember.

[00:39:48.20] - Speaker 3
I think last month we had the, the OPEX last month was actually a lot higher. So normally we see like big expirations around opex. So what we saw here was actually quite interesting because normally the OPEX, as you guys know, is the third Friday of the month. But seeing a lot of gamma, such a large amount of gamma on maybe not an OPEX week was kind of interesting. And then of course we have a lot of negative gamma expiring next Friday. So this Friday, so this Friday is also going to be very important.

[00:40:26.23] - Speaker 1
Also do you see some CPI and PPI positioning compared to the last few few weeks?

[00:40:39.12] - Speaker 3
I think, I think overall like last month was maybe we had more expiration, so it was more. I think at one point there was a 23% gamma expiring on Friday. So I think things have come down a lot compared to a month ago. We've seen it in the, in the option, in the scores. But yeah, I think OPEX is Friday. Looking out this Q chain, all these models that. And we're going to talk about this on Thursday with Ryan as well. We're going to have like another session talking. But I think, yeah, looking at this data can sometimes explain some of the things that could happen on a day like today, for example.

[00:41:25.18] - Speaker 1
Amazing. Like it. All right, I will share again guys if you have some question to Fabio writers and comments so nothing has happened in the market at the moment. We stay in the range between on the SPX 5000, 800, 20, 5800. We was talking about the 5800. Now it's a good time also to ask Fabio some questions. I think what Fabio was giving us the example about the options expiring. This is a really good gold nugget. I think you should write this down or listen to the recording again, because that's something what I was learning from Fabio through the last year. So we are now working together, Fabio for one year. So. And we was talking, I think we're talking every single day together and we share our ideas. And this is something where I can take always from Fabio, the insights from Mentor Q how you can read this better, how you understand this better. And now you have also the opportunity ask the question, write this down, and then we will take care of this. So nothing has happened at the moment. That's also the good time where we should possible relax. We don't want involved in this.

[00:42:40.02] - Speaker 1
We want clear signals, we want clear down move. We want clear up moves. We don't want involved in the middle of nowhere. So. And Jordan, if you have add something to this, you're more than welcome to share this with us. All right, I will open on my zoom and then. Oh, we get some question to clarify. Summarize. Positive gamma expiring last Friday. Around 13% of total gaps would result in buying underlying assessed. Fabio, I think that's a good question. Maybe you can go over this again.

[00:43:33.09] - Speaker 3
Yeah, so that's a good question. So. Exactly. So what we need to understand is that when. So if there's a lot of gamma expiring, and the way you can look at that is look at the percentage of gamma expiring compared to the overall gamma. And that will tell you basically if we could potentially see some technical moves after the event. So typically we see this after OPEX when there's a lot of gamma expiring on the third Friday. But what was very interesting to me to see last week was that the amount of gamma expiring on Friday was actually higher than normally in opex. So in that case, that can trigger some buying or selling pressure based on the overall positioning after the event. So that's where we see some technical moves after the event. And sometimes that expiration can act as an inflection point. And I think what we've seen today can also be determined by some of these gamma plans.

[00:44:41.06] - Speaker 1
Yeah, good point. Yeah. I'm also updating my trading View shot. So as you can see, as I talked before, we have on 5800 now the core resistance. Gamma world core resistance. I update also now. My gold. I'm using now GLD because we have now the morning snapshot. The market. I like it because Fabio, when we have the last calculation for the 1 day min and the 1 day max is that's also really important for the people to understand.

[00:45:18.07] - Speaker 3
Yeah. So we have the end of day data and then we recalculate the one day max and one day minimum at the open. So the 9:35 snapshot that will give you with the intraday data, the updated calculation of one day max and one day minimum. And the reason why we don't change that throughout the day is because it doesn't really make sense to have a daily value as time passes because the chances of the price hitting that level if you calculate that at 12:30 will be much lower than if you do it at the beginning of the day. So we, we decided only to recalculate at the open.

[00:45:59.22] - Speaker 1
Okay. All right. So as I said, I'm playing not at the moment with market order. I have a stop by order. Maya's on 580 20. So if we get over this, I get filled for the upside. My stop loss is below the call resistance. And gamma world core resistance, I'm trading only small position size. So 1 mes on value. So for this reason, there's no big risk on my side. I will not taking big risk. Yes. We don't know what happens, but I like how we came back. Let's see if we can get fold. Yep, we got filled. But John, I think if we can break out from the morning range where we are. Yeah, this could be starting to break down. This would be a good move to the upside. But again, this doesn't mean if we're talking about a breakup to the upside, then we will break out. We can be wrong also. And Fabio, I was sharing with with the community something what I was learning from my mentor this weekend. When I was talking to him, he was talking to me. Hey, Patrick, if you'll be surprised from the market, you are not not experienced enough.

[00:48:03.19] - Speaker 1
Basically he's right. 100. So it was a good start to talk with him. Right. See. And also Fabio, did we see in the summary the change from the one day min and the one day minutes? I think yes. Correct.

[00:48:39.05] - Speaker 3
Compared to yesterday.

[00:48:40.12] - Speaker 1
Yeah. No, I mean compare. Yeah, compare from end of the day to intraday. Let me see.

[00:48:53.13] - Speaker 3
Yeah, so yeah, the one day max.

[00:48:56.02] - Speaker 1
Move.

[00:48:58.22] - Speaker 3
About 100 points higher.

[00:49:00.20] - Speaker 1
Yeah. So that's also some, some. Some clear sign for you guys. Because the last calculation from the One Day Max is 935. How big is the One Day Max? Shifting to the upside and to the downside. And this is, this is for me one of my sentiments. If the one name max is more shifting to the upside then it means for me more bullish. If we seeing some, some. Some down move from the one day max, this means for me more bearish. But that's only something what I'm observing is it must not always be right. But if we see some big shift, that's a clear sign. Also we get new questions. We answer this already, Fabio. If load gamma AOD level and intraday level on trading view. But the levels are quite different. I try to reload them but no change. I would say Gene Carlos, that's a. A question for. For the support of our product session, not for the live trading session. Let's focus on the market. If you have questions about how you can read the market better, I think we can answer this. But yeah, I mean quite different compared to Patrick.

[00:50:27.09] - Speaker 1
What do you mean? So I can tell you what I have here on my site. So first I have the SPX levels here from 9:35 snapshot and also what I have here. I have here now the GRD levels but I'm using Ciao US dollar here. I use SPX from Spreadx. So you must also looking into this. If you're looking to SPX and we're not using spx cboe we have different conversation. That could be something where you have to be careful with and a big change. Also Fabio, Mary was not talking about this but this is something what I observing and look at the wicks. So the put support 0dte from the Wix was changed. We are now coming to the area from the put support 0dt. If we look into our intraday data to the 935shotshot now we have to put support 0dte and play on the rigs. So we should be careful with this. See what happens there and just waiting. And I think one, one goodie what we can give to you to the people, Fabio. Because when we get information, hey, I see different levels like you. It could be very happened that you see this also in the community that someone have different levels.

[00:52:31.24] - Speaker 1
So one part could be hey, what ratio do you use? Do you use auto ratio? Do you use manual ratio? What ticker do you use? If we speaking about spx, I can show you this really quickly if we go to trading view and we will type in spx. We're getting so much simples on spx. Boom. What but what we use did you use the index cfdsp, the tvc, cbo, the spread X what we use, that's quite different. We have different spreads. Then that's something where you should be have also in the mind. And second, I think Fabio, you was talking about this when we speaking about the. The trading view indicator. Who gives us the intraday levels. Sometimes you have to look if there's the update to update this to delay the indicator to add the indicator. Or you can check on the discord in the board if there are already the new level. So from my side, because I have at the moment only SPX and wix, I'm using the mentor queue custom levels. So what is this meaning? So I'm going to the bot and put in the levels manually. So this could be also possible that you have 735.

[00:53:58.20] - Speaker 1
So the 730 and not the 935.

[00:54:04.24] - Speaker 3
And also Patrick, the auto updated indicator, they have a timestamp.

[00:54:10.14] - Speaker 1
Yeah. So you see. Yeah. John Carlo was. Was also posting this. He see Last update is 7:45. So my update is 930 35. I get this from the bottom. So maybe you have to refresh the indicator.

[00:54:28.17] - Speaker 3
Yeah, and yeah. And also Giancarlo, take a look at the levels update channel on Discord. And this will have all the troubleshooting steps in case you don't see the updated levels.

[00:55:12.03] - Speaker 1
I think we fixed this now. Bob, you're in the program. We're talking always about what do you learning. So basically you was last week not there because for me ending the sessions normally we asking every trader, hey, what was your biggest learning today? How you can become one day 1% better for tomorrow. We mean not PL. We don't mean in some. I mean with experience as trader. So my question to you Fabio, for today, since we are in the range what you was learning last week from the market and or did you observe something what you can share with us?

[00:56:05.17] - Speaker 3
Yeah, I think we. We did a very interesting session before that you guys can find on YouTube about volatility. So I think the key part. So what we've seen in the last couple of weeks is extreme in volatility and then volatility crash. So I think the biggest learning for me is not to be scared like if events like that happen and just follow your process. Right. Because basically like when we, you know, a month ago everybody was really panicking and I think that caused very irrational decision for some traders or some investors. Even if you have a long portfolio and suddenly you get scared and you just sell off position that should be in your long portfolio. So I think following your process and looking at the data is very important and what we see now we are back at 5,800 so we saw like almost a thousand point move in the last two weeks which is crazy of course. So for me it's really I just learn how to follow my strategy, my ideas follow, follow my process and leave emotions aside and follow just the what the data is telling me basically.

[00:57:24.23] - Speaker 1
That'S good. Yeah, like. But do you have some recommendation what we can post for the people in the chat, how they can learn how to read the market with mentor queue so that they understand where they can looking for?

[00:57:49.12] - Speaker 3
Yeah, I mean I think so. If you guys go to the dashboard and you replay the last 30 days and look at things like the matrix, the Q score and look at when things change, the data could have given some really interesting insight on how to read the price action for the last 30 days. Right. So I think the goal of the models is really to clear out how to how the data looks like and explain and simplify it. So if we look for example at the Q score on SPX or even like if you look at Tesla, right. Tesla is a very good example because it was extremely bearish up to maybe two weeks ago and then now we are back over $300. And if you follow some of the email that we sent with the case studies and we're going to send more this week, just look at how the data behaves over the past 30 days and play back just go day by day and look at it and then you see that some of these models could have clearly given you like a very, very strong insights on when things started to change and when the market thought that things were going to change.

[00:59:03.11] - Speaker 3
So yeah, I think, I mean we're going to write some case study this week and, and show you how you can use that. But yeah, just play, play with the data. You have access to the dashboard, you can go back in time and look at how things behave when you saw those big spikes and then how things change pretty fast as well.

[00:59:39.20] - Speaker 1
That's good example. Again I'm long but I, I'm not panic. I'm. We really can't move myself because at the end I have a clear strategy for me I won't see that the core resistance gamma was UDT is holding also we have pin risk effect there. So I will not be panic. If we go 10 points below this. That's a good opportunity for me to buy more. But if we breaking this really crazy I will go out. But that's my trading plan for today. So the core resistance. Because if you look into my shot on the left side I was using this in the morning also I was going long there and was working for me. So now I'm trying to copy this. Could be working. Must not be working. But let's see.

[01:01:12.23] - Speaker 1
Oh, someone is caching. I like it. It's quite a move. Yeah. Let's see. Again no panic on my side. So I have a plan. I follow my plan. That's it.

[01:02:06.05] - Speaker 2
It's Fed Coogler that's saying a bunch.

[01:02:08.24] - Speaker 1
Of stuff that's oh yeah, yeah, yeah.

[01:02:13.08] - Speaker 2
Negative.

[01:02:15.08] - Speaker 1
Okay, makes sense.

[01:04:07.03] - Speaker 1
Let's check the news what he's talking about.

[01:05:38.19] - Speaker 1
I like it. Someone have to ninja trader. You can hear that?

[01:05:43.21] - Speaker 2
It's in my headphones.

[01:05:45.18] - Speaker 1
I heard this.

[01:05:48.21] - Speaker 2
That's so strange.

[01:05:51.08] - Speaker 1
I like it.

[01:05:56.01] - Speaker 2
Did you hear it say stop fill just now?

[01:05:58.13] - Speaker 1
No.

[01:05:59.12] - Speaker 2
Oh, that's weird.

[01:06:03.20] - Speaker 1
Maybe it is post on you. Maybe some other one. There you go. Let's see if patience is paying me.

[01:07:26.12] - Speaker 1
The WIX bounced perfectly up on the put support. 0dda by the way.

[01:08:41.06] - Speaker 1
Just be patience. It. Bobby. Why is the core resistance and gamma was so important for the people why this will be protecting now?

[01:09:41.08] - Speaker 3
Yeah. So the. The core resistance is kind of like together with the put support. The strongest reaction zone is where we have the most cold gamma. On top of that always looking at the 0dte's level as well. So we have core resistance which is looking at all the expirations around the chain. But we also have the core resistance 0 DTES which is basically just looking at today's exploration. Why is that important? Because sometimes 0dt's options can actually impact the market quite heavily. Because the gamma of this option has the largest sensitivity. Because the option expire today. Even like a very very small moves in the underlying could actually cause a very very strong reaction. So always monitoring 0t is flow is very key as well. Especially if you are a futures trader.

[01:10:42.19] - Speaker 1
Yeah. And when the zero dte levels have the most impact. That's also what is really important to understand for the people.

[01:10:52.03] - Speaker 3
So for example like when we look at a day with a lot of option expiring if we see a large volume of option expiring and we are approaching the expiration. So when we have a few hours left in the expiry even like a very, very small move could actually have a big reaction. So sometimes we actually see a lot of reaction, Even like at 2:33pm during the power hour, as these options are coming close to expiration. So some strategies that people look for is trading 0etce options on SPX close to the expiration because they're quite cheap, but they could actually move very fast if, like the move happens. So, so you could actually have very, very high return, of course, very high risk because if the move doesn't happen, then of course you lose all the premium. But typically this option can also move the future market quite heavily.

[01:11:50.19] - Speaker 1
Yeah, that's correct. All right, I'm done with my position building. So basically I have now the full buying power. If I would trade one years moment, I'm down US$440. So let's see how it works out. I explained my trading plan before, so I have strong belief that we will hold the core resistance. Nothing is done. We will fight in this area. We have to pin risk. But it's also, as Fabio say, it's now really. Protected. So let's see. It.

[01:13:26.05] - Speaker 1
And guys, let us know if you have any questions about the levels. How you can read this, how you can understand this much better. So the sessions is for you also and for all pro ones. It's a good lesson when Fabio is showing up, he shares all these great ideas with us. And here we go. So we are now in profit. I like it. I take now 50% partial profits. It. I'm protecting a bit my position. I don't want to lose my profits. Oh, I have to close my windows because. Oh, outside. Because outside this beach party. So, yes, I'm making a big beach party. I don't know if you, if you can hear this, but let me close my windows.

[01:16:52.11] - Speaker 1
All right. Windows, doors closed. Sorry for that. I like this. When a trading plan works at the end.

[01:17:15.22] - Speaker 2
Yeah, that's always good.

[01:17:17.16] - Speaker 1
So that's what I was learning over the years. So be patience. Don't get panic, don't get fomo. Be patience. If you have a trading plan, trade your plan and that's it. And much more important, if you don't like something, then get out, take your profits, and that's it. And you was also seeing some teamwork. This is something what we practice always in, in the pro. And this is why, why I love the pro so, so much. And especially thank you for Jordan, because I was so focused on my position to manage my position to watch to my shot, and you were seeing this yeah, so I think Jordan and he was saying, hey, Patrick, be careful. Some fat speakers speaking. All right, so in this case I was no more wondering why the market goes down. And I was a little bit more comfortable in my position because hey, there are some fat speaker who make some trouble at the moment. So no worries. And basically you see it now. So we're ending up in profits. Here we go. We have one position left. That's our losing positions. But you can see it here. So 27 Western loss.

[01:18:56.22] - Speaker 1
But in total, if the position building, we are in good profits. And basically he was building the same stuff what he was doing before, as I was sharing with you. Look at this. I was building the same position. Boom. Get one question. Let's take a look. Fabio, I think this is a question for you. Is it usual that 0dt core resistance be so different between ES and spy? I know the answer, but maybe you can explain it.

[01:19:53.12] - Speaker 3
Absolutely, yeah. Carlo, thank you for the question. Yes, it's possible. And the reason is very simple. Yes, and SPY have two different option chain. So the option. So even though the asset move in a similar direction and they're very heavily correlated, the option chain is different. So it could be that the core resistance can be different as well. Let me know if that makes sense.

[01:20:25.14] - Speaker 1
Makes totally sense for me and also for the people. Fabio, to clarify, if you're trading the. Yes. How they can look what they can possible convert if you look into the gamma exposure. So where they can find this to get some idea what ETF makes sense to convert. Convert to your futures.

[01:20:51.03] - Speaker 3
Yeah. So I mean the first thing is to always think about the asset that you're looking for and the customer that would buy or sell that asset. So if we look at spy, the reason why the option chain would be different than ES is of course ES is mostly used for hedging. So a lot of the funds that are long equities, they would probably trade ES for hedging purposes. Also speculator would trade ES and if you look at spy, it would be more longer term investors. So 401k plans asset manager. So the need of hedging on those positions is different than maybe a speculator or a large hedge fund trading futures. So that's why you see the difference in the option chain data, even though the asset moves kind of in the same direction.

[01:21:48.12] - Speaker 1
Yeah, absolutely correct. And we already answered this. Colonel, thank you for your question. Donald, what was your trade setup for the trade you in? So I'm possible out. I was explained this earlier before, but I can share this with you again. So what I was observing the last few weeks when it came to tariffs and China is mostly launching some news for European time it's 10am if it's for Eastern time it's at 4am and this time the news was coming out at 9am so European time, 3am Eastern time. And I possible missed this candle. And I was thinking okay, so if you get a strong candle like this, maybe we get some follow truth. Basically it was not working. But I was also seeing the 5,800 before as a strong, strong area because we have our call resistance there on the end of the day data. And this was something where I was careful and I was building my position. I'm trading at the moment the CFDs. So I'm can. Can use the same buying power like what we have on MES or on on es. Basically I was building my position and at the end in the middle I was taking my profits because I was profitable and I was seeing the same setup what we were seeing before.

[01:23:27.10] - Speaker 1
So if we taking now here our candles. Let's go to the five minute. So basically I was talking all the time about hey, let's take a look at the 5800. We have the call resistance there. We have the gamma was udtl0dt there we have the also the core resistance codt there I was talking about hey, I feel very comfortable in my long position because of what I was doing before in the morning session in the European session. And basically I was also talking about say let's copy this what I was doing, what was working and it was working in the European session. And it's also the. Also only the second push. You see it's a first push. That's the second push. And normally I'm observing only it's my observing. It needs three pushes for a clear downside move or clear upside. It was not happened this. And also we have to revamp there we have the call with this. So that's why I was comfortable and building my long positions there. I was taking my profits. Yeah, I take it too early. You can say basically hey, why are you taking all your profits? But at the end I was making some good profits there.

[01:24:44.14] - Speaker 1
It's enough for my small account. And in this case my trade idea was long call resistance gamma one zero dte copy what I was doing before. And basically I was doing this. I hope this answer your question. This is also why I was calm and why we was talking about the teamwork, what we always doing in the procession. I was long Jordan was saying to me, hey Patrick, be careful, fat speaker is talking. So I know why we're getting the down move. If this would be came a little bit against me like thousand US dollars, then I would be going out. I will not more risking a thousand west dollars. This would be making no sense. Also I was talking about the pin risk effect. Maybe Fabio, you can tell the people what is the pin risk effect and why is this so important to know?

[01:25:45.09] - Speaker 3
Yeah, I mean the pin risk. I think if you. If we look at what's happening right now on spx, basically the price is moving around the core resistance and core resistance 0 DTES. So it's trying to break to the upside. Then it went back try to break to the downside. So what the pin risk is is essentially when the price gets stalled around the level due to the hedging mechanism from the option market that basically are forcing the price to stay at that level. So if there's a lot of like hedging activity going on, you see this battle of buying and selling pressure that make the price basically stay around a certain area. And I think we've seen. We are seeing it right now on spx.

[01:26:35.08] - Speaker 1
Exactly. And this was, this was exactly what I was. Why I was be comfortable with Fabio. Because of the pinwheels. I know exactly the call resistance gamma was call resistance udt. That's so strong. But the move is the area is not giving up because we have also the pin risk. So 10 points to the downside, 10 points to the upside. And this is why I was not freaking out, why I was be calm when I must be in the shitty position. Fabio, was I making any nervous sound? Was I feeling comfortable or what was happened? I was feeling comfortable. I was talking to you guys. I feel uncomfortable. I'm not. I'm good. I feel fine because of the call resistance at the pin risk effect and my trade idea, what I was doing before and my observing that it need minimum three pushes to break to break to the downside. And basically this was happened. The only thing what I was. What I was learning today and. And we talking about this in the pro session every day. What he was learning today, everyone was in a live call share his experience, what he's learning today via team.

[01:27:55.03] - Speaker 1
And one thing what I was learning. So look at, look at the. Let's take a look on my side on the width. I will zoom this out a little bit that we have more focus there. So the wicks came all the way down to the put support. 0dt correct. Normally we will Say hey, if the WIX comes down the market goes up correctly. Correct. But today this was not happened. So we're getting a little bit sell off. I will say controlled sell off because it's more for me profit taking makes totally sense. And then we was coming down from the gags too. Boom. And this was also where I feel comfortable with. Remember I was talking about core resistance pin risk effect and we we was bouncing on the put support 0dt very well into the gags too. And from the GEX 2 we came no down. This was my my sign that I was good that I feel good. I can be sit back and relax because the WIX is now again on my side. And that's something what I was observing also today. Now I I'm wondering if we have some questions. Let's check it out.

[01:29:20.07] - Speaker 1
Yes, thanks. Did you trade the big move up in the European session? What's your strategy when there is such a big momentum move? That's a really good question. I can tell you Donald. Let's give you some some insights. Go back on the 30 minute time frame. Here we go. What I'm doing always if we have a big news candle on my execution platform. My execution platform is MT5. I love to go to the 30 minute time frame and then use the Fibonacci. But you can do this also on trading view whatever you want and map out the Fibonacci the normal levels and you see we bounce back perfect on the 618 boom. Perfect. And what's happened also here. So for me I know very often the the move from this candle is valid until we reach the 50% or the equilibrium. So I can build my position until the 50 area after we breaking the 50 area. This could be stupid. This could be dangerous. The last exit would be this 382. But this is something what I'm observing. So if I have a big news candle I'm using always my Fibonacci tool. And this is my first indicator and my second indicator and we were speaking about this in every trading session have Mentor Q always as minimum second confirmation for your trading strategy for your trading style.

[01:31:18.15] - Speaker 1
And this is what I was doing. So I like to map out the big handle move with the Fibonacci my second confirmation. Hey, what's going on with Mentor Q? What's going on with the gambler? It's 5800. Perfect. Where else 5800? It's near here. So basically the 5800 is near the Fibonacci 61.8 so and this was my second confirmation guys. So and this is how you can use and leverage based on mentor queue. Of course in the beginning we was also talking about options order flow. I'd be really ex having a good edge and reading real time options order flow. This is not the topic for today but mentor Q helps me to read my edge, to understand my edge much better. And this is what I was doing and I hope this helps you. So we have now the core resistance 5800. We have GEX 1 on 850. So basically you can use also the Fibonacci between the 800 and the 850 and find out where's your levels. So using the 5, 800 to 5,000, 850 should be around here. That I'm right. Yeah. So normally should be good. And then you can also playing around with your Fibonacci levels between some levels.

[01:32:50.19] - Speaker 1
This is something what I'm doing also. So I'm really good in understanding the Fibonacci principle. I'm really good to understanding reading options order flow. And then mentor Q helps me to define my risk, to define my second confirmation. And this is why I'm liking mental Q so well. And also Fabio, maybe you can add something from product perspective. What gamma levels should be, should be. You should, should be using as second confirmation who are really strong. I would say the primary levels no matter what.

[01:33:31.24] - Speaker 3
Yeah, absolutely. I mean the primary levels are very important. But also combine the secondary levels especially like sometimes jacks 1, 2, 3, depending on the strength could actually be very important because if you look at the net gum exposure chart and you can see that secondary level have very high bars like wide like bars like the co resistance. They could actually be as. As important.

[01:34:00.22] - Speaker 1
Yeah, And we get also the question. Sorry, I was, I was letting the wrong question. I was marked this as answered the question was Fabio, do you use also volume profile with GAX levels and gamma limits?

[01:34:25.05] - Speaker 3
Personally I used to use volume profile. I haven't used it in a while, but it could actually. Yeah, it could be an additional tool that you can use. But the problem with the volume profile, it really depends. Like I think you mentioned this before is how good the data feed is. It's not very easy to calculate accurate volume profile data. So it really depends what indicator you use, what provider and what platform.

[01:34:53.15] - Speaker 1
So yeah, and Donald, thank you for your comment. Thanks for that good insight. So I appreciate it. I'll let you say thank you. But for me and I think everyone who's here in the pro and we have open mic. They can confirm this. That's, that's usually. This is how we working now. Let's check if someone is here from our pros. We have open mic. Yeah, I can, I can confirm Patrick. And it's been an added value to me. Definitely. I've learned a lot in the last three, four months. Definitely. And I've been trading for three years. But this is really valuable. Thank you so much, guys. You're welcome. And also Jordan, he was also sharing with us on the weekly roundtable. This was on last Monday when we have our group mentorship together. He was also sharing about your strategy. Correct. With the take strategy. Yeah, yeah. This was also really helpful for many people. And you give also in common. We was talking about volume profile. The question goes to Fabio. But you was also talking at the beginning, Jordan, if I be right, you were saying, hey, I'm using now what are you using?

[01:36:15.13] - Speaker 1
Footprint.

[01:36:16.04] - Speaker 2
Well, footprint. Yeah, to, to just to. To find where there's some, maybe some trap buyers and sellers. But I also have, I also have on my chart a, the high volume notes from the volume profile for like the last three years. And that really helps with, you know, maybe some resistance or support levels. So you just. I put up a volume profile chart. I mark the high ball levels and.

[01:36:47.18] - Speaker 1
For me guys, I, I always, I always combine mentor Q with bookmark. This is the only thing that they're the only two things that I use. Yeah, that's also great. Yeah, yeah. And that's all this stuff what we shared together. So we, we talking every single day in the, in the program, what we was learning, what we observing, what mistakes we're doing, what was doing great. And yeah, this is how we go. And also normally we announced we are, we are back in the range between the 5820 and the 5 800, I think. So that's, that's the range. We are in the middle of the range again where it was one hour before. This time is normally I would say take some break, get out, take a walk 10 minutes, 15 minutes, fresh air, maybe drink a coffee, drink some water, breathe in, breathe out and then come back. You have not to sit there any minutes on the shot. That's a good time to take a break. And yeah, we came in one hour. We have lunch time. So will not miss something. If you miss something, no worries. You will get opportunity tomorrow.

[01:38:20.21] - Speaker 1
We have cpi, we have ppi. There will be a lot of movements in the next few days, so absolutely no fomo.

[01:38:30.11] - Speaker 2
The markets will always be here yes.

[01:38:33.12] - Speaker 1
They will be older than us. Patrick, I'm not sure about the blue and red line on your chart. All right, so my blue line on my, my execution chart is the 20 SMA the same you see on trading view and the red line is my rev up and if we going to the higher time frame you see also the red line here that's the previous vwap. So I'm shutting always the previous day vwap and the daily vwap. Yeah but no matter if I'm going to the 2 minute then I will have the 20 SMA if I'm going to the 15 sometimes I'm switching around to see where we are so it helps me but as I said so this metatrader5 is only my execution platform. I'm doing my analysis on trading wheel so it's only some warning signs for me that I'm not doing stupid to have this also an execution. And also by the way I was learning from Jordan, I was learning from Ahmed, I was learning from Sherry. Have the ATR also on your shot. So I have it here, my ATR 5 minute ATR 9.8 on the SPX. So this is something what guides me also and yeah this is something what we all always share together.

[01:40:21.24] - Speaker 1
Sherry was sharing some really nice strategy. When we have positive gamma, negative gamma there's a lot of going on in the pool.

[01:40:33.05] - Speaker 2
It's the best.

[01:40:39.03] - Speaker 1
I'm sure there there are better rooms outside but we're doing our best.

[01:40:43.11] - Speaker 2
There's not.

[01:40:47.01] - Speaker 1
I will try our best to be open for everyone because something what I was hate before I was on mentor queue before I was on chat with traders community where we have our live trading room. I hate always if you've been a, if you'll be in a live trading room and you cannot answer questions or you cannot share with other people your experience because that's, that's the point where you grow together to have the feeling you don't trade alone. That's something what I really like and this is always what I was missing and what I was missing also is some people if you're going to the live rooms say gelling, hey, I'm long, I'm short, I'm long, I'm short, short, long, long, long. And you're freaking out because you were thinking like what the hell is going on? But we practice really patience as you will see. The first 15 minutes, 20 minutes from our session it was really calm because everyone was focused on the Shah and that's something what I also really like and this makes also the group very special.

[01:42:03.14] - Speaker 3
And if I can add to that, Patrick, I want to thank you for your dedication, your patience. We have increased the number of session this week and we're giving you access guys also to some live training. So I really thank you for the time that you spend with the team because it's a lot of really great insights that you provide.

[01:42:26.21] - Speaker 1
Yeah. And I can also thank you to. To you, Jordan, and I hope you will be join our team very soon. I love to trade with you together. It feels like. It feels like my old trading days when I was straight together with Steve. Yeah, I like it. So it's because Steve have. Have some strange. He have some. He have a different trading style than me. He sees things different than me. And sometimes I have to feeling you see also stuff different than me. And very often we see the same. Same stuff. And this is what. This is what I'm like and this is how we can work together. Also thank you to you and also thank you to all pro members who are here. Ahmed, you stay with us. Wow. Very long time. I like it. Yeah. You're the best, Patrick. I've learned a lot from you. And Jordan, of course. Yeah. Thank you also to Jesse. Thank you to Patrick G. If I miss someone. Yeah. Thank you all to all of you. Okay, you guys, But more important, give us some comment if you be green today. Yes. Or not. So that's.

[01:43:48.20] - Speaker 1
That's what. What matters to me. If you say, hey, I'm green. Perfect. And if you learn also something, man, then this was a perfect time together. And that's something where we can build trust and can work together.

[01:44:16.11] - Speaker 2
You seem to be consolidating in this range.

[01:44:20.09] - Speaker 1
That's why I was talking about take a break, take coffee, take a break. You were not involved in this. Really? That's the. If you go into your trading journal, that's the areas where you taking the. The most stupid losses. It's. It's always like this. Always. So maybe Fabio to not focusing on the charts. I will close also now my space. I will stop sharing. Maybe Fabio, you can share our mentor Q desk and can tell the people maybe 10 minutes how they can build a morning routine with mentor queue. Because I think that's really, really important. And after this, you are free to ask any questions. And then we are done for today. But we have also the power hour session today. But for this session, we are done.

[01:45:16.24] - Speaker 2
Fabio, I believe we talked in the past about doing a whole webinar dedicated to getting your morning routine.

[01:45:27.01] - Speaker 3
Yes.

[01:45:27.21] - Speaker 2
Analyzing yeah, we should still do that.

[01:45:30.10] - Speaker 1
Yeah, absolutely.

[01:45:32.16] - Speaker 3
Yeah. No, I think, I think we, we have a video on the getting started course on how to create the morning routine. But I think yes, we can go, we can go over it Patrick, very, very quickly. So essentially like what I like to do in the day is like this is how like I kind of set up. Well, it's a bit different now, but let me remove this. So the first thing and the reason why we developed this is looking at the Q score and looking at the gamma condition for the day. So for example today we are back in positive gamma. But as of the end of the day we were in negative gamma. That means that you can expect more or less volatility. Also looking at how the volatility compares to the history is very, very important. And looking at the scoring right here. So as of Friday we are in a neutral option position. Things will change as of today, most likely we were in a very low volatile compared to the history and we were in a neutral momentum and a slightly negative seasonality. So still we didn't, it's hard to see what could, could have happened today.

[01:46:52.23] - Speaker 3
And then today we're going to see the new data. But essentially what, what I like to see is how these scores change over time. So for example you can see here that this spike of the score could have signaled a potential maybe changing trends. Obviously use it in conjunction with your trade ideas. But basically looking at the option data, so this massive spike right here from almost negative, almost zero to maybe a three or a four could have given you some interesting move even if you didn't catch it right at the beginning of the trend. Right. So very, very, very important. And then basically I look at the positioning monitor, that how that changes compared to the previous days. Very, very important. Look at the matrix as we say. Like if you knew that on Friday there was about 13 of gamma expiring and you are on Thursday at the middle of the week, you can understand how technical move could happen following that event. And then of course I look at our volatility models. So look at how the smile changes. So for example I don't day trade just because of time. So I do a lot of like options, strategies and understanding how the, the different part of the smile can function and can give you access to nice premium that you can capture can be important.

[01:48:28.24] - Speaker 3
And then of course looking at the skew, understand if we are in a put or call bias can help you understand the sentiment. And then of course looking at our string trading model, so we were still in a bearish scenario on Friday. So this, these levels could have been very interesting. So we had this 5800 level, which is the one that you were kind of looking through at the beginning of the call, Patrick, I believe. And then, of course, looking out how things change throughout the day. And then, of course, if you trade futures, you can do it on futures. If you trade nq, you can look at qqq. So, for example, very, very interesting. We see kind of like a mixed scenario on spx, but we see a very, very bullish scenario on qqq. So looking at that divergence can give you also a nice perspective of where is the market going on, different assets and. Yeah, and that's kind of like how I would prepare for the day.

[01:49:39.01] - Speaker 1
It's good. I like it. And also, Fabio, I think when I will battle on this in. Not everyone is understanding for now, positive gamma and negative gamma. And maybe some people misunderstood. So positive gamma means not that we are bullish, and negative Gamma doesn't mean that we are bearish. Maybe you can clarify this for the people.

[01:50:12.06] - Speaker 3
So the first step I think, for, for everyone is take a look at the resources that are available to you. So whether you have a free account or a premium account, you can access the Academy, you can access our guides. And if you go through our guides, there's a lot of documentation here that can help you understand. Even if you are new to the option market or the futures market, it can help you understand a lot of things. So we do have our knowledge base. If you, let's say that you want to learn more about positive and negative gamma, we do have a document here, right? So you click on the positive gamma under knowledge base, and then basically this will tell you what positive Gamma is, what negative Gamma is. But essentially what we need to understand is that the gamma, so the gamma of a long position is positive and the gamma of a short position is negative. So when we are in positive gamma, it means that the market is overall more long option than short. So they are buying more option than selling. When we are in negative gamma, they are selling more option than buying.

[01:51:27.20] - Speaker 3
So why is that important is because when we are in a net long gamma environment, market makers would sell when the market goes up and would buy when the market goes down. So that typically tends to stabilize volatility because of the way these hedges happen. On the flip side, when we are in negative gamma, the market makers typically short when the market goes down and go long when the market goes up. So that typically increases volatility because it amplifies the move. So that doesn't mean that if we are in positive gamma, the market will go up and if we are in negative gamma, the market will go down. But that means that if we are in negative gamma, you could potentially see very big price swings throughout the day, whether to the upside or to the downside. So as a futures trader, knowing that can help you time your entries, understand the, the, the stop loss limit that you need to have. Because if you, for example, only trade with the 10 points, you know, stop on NQ and we are in a negative GUM environment, most likely you're gonna get hit quite a lot if you don't understand that.

[01:52:45.01] - Speaker 3
So I think knowing that is very important.

[01:52:48.12] - Speaker 1
Yep. 100 and guys, we have a few minutes left. That's now, I think, the part where we should stop the recording for now. I will stop it now.