July Product Launch: New Models and New Integrations

[00:00:06.05] - Speaker 1
Hi, everyone. Hi, guys. Hi, nicola. Hi, matt. Hi, chris. Can you guys hear me? Okay? Great, Great. Thank you, guys. We're gonna wait a couple of minutes and then start at 11. It. Hi, everyone. Hi, guys.

[00:01:42.08] - Speaker 2
It.

[00:02:31.17] - Speaker 1
Okay, so I think we can start. We have a lot of people connecting, so thank you everyone for joining us. So we're actually very excited for today. I'm Fabio. I'm the CEO and founder of Mentor Q. And here we have Ryan and Patrick. They're on the background. They'll be joining our Q and A later on and I'll guide you through this session. Right, so at Mentor Q, our mission has always been to really empower the retail investors with tools and insights that are typically available to large institutional investors. Right? And today we're actually closing a gap that we had and we're going to show you some of the new stuff that we've been doing. So we're really excited about that. In the last year for us has been an incredible journey because we were able to build the backbone of our infrastructure. And what mentorq is today, really, we didn't have it a year ago. And the goal is really to move always more towards quantitative models. But to be successful in that step, we also need to have a reliable data and infrastructure. So before being able to implement advanced trading strategies and models, we need to make sure that our pipelines and our infrastructure are solid.

[00:03:42.04] - Speaker 1
And we can finally say that the work has been successfully completed. And the team has been doing really great work around the clock doing that. We're also continuing to build the teams. We are adding resources in the correct place. We now have full time cto. We have a lot of people that we hire. In the recent months, we have traders. Our trading room has grown as well. So it's really excited about that. And at this point, we are ready to take the project to the next level. And in the next year, you guys are going to see what we're going to develop, which is really more quantitative models, more AI integrated in our investment process. And then we're going to start building the first version of our application. So we're really excited about that and stay tuned and we'll keep you posted on our roadmap throughout the year. But why, Why is this product launch so important? So important to us? Right? So first of all, the financial market is very complex, right? And navigating the market successfully not only requires knowledge, but also the right tools and the right strategies. So the goal for us is to introduce you to the latest innovation coming from Mentor Q and I think we built the product that we really believe can change the way retail investors can approach trading and investment.

[00:04:59.21] - Speaker 1
And during this session and throughout the month, we're going to show you how and more examples of that. So our current offering is very extensive, right? And we are very happy about that. But we were missing some key points that we are completing today. So first we started with options. And we understand that the option market is very complex and being able to understand the theory behind it is very important. And this is why we have now built a complete new education platform that will help you combine actionable data with financial education. So Today we're introducing 18 plus new courses and we're going to keep growing the academy as we, as we grow. The second step is really the new trading models, right? So for example, we did not have options queues and our term structure was not really complete. With the new release, we're filling these gaps and we're adding some new exciting models, which is our swing trading model, our net delta exposure, our blind spot levels that a lot of our users have been using in our beta version, and then also our advanced options cleaners. And throughout the session we walk you through those in more details.

[00:06:07.09] - Speaker 1
The next step is coverage. We were covering about 400 assets in the last few months, but we're now increasing that to 1,000 plus new assets, including stocks, ETFs, indices and futures. And soon we're going to also introduce crypto. So again, stay tuned about that. So now you can really access all our models for your favorite assets and be actionable very, very quickly in the market. As far as we know, we're also the only company that provide you with gamma levels on future options covering markets like energy, metal, forex, rates and indices. Right? So now you can, you can leverage the product if you are a futures trader, if you're a forex trader, a commodity trader, and so on. Lastly, we are very excited to deliver today three new integrations. So TradingView really has been the starting point. So we've integrated our data, we have created an indicator, but we realized that our users are actually trading outside of TradingView, so they're using other tools. So this is why today we are excited to deliver to you the integration with NinjaTrader, MetaTrader and CRHOP. So we're going to talk about that in the next few minutes, but let's go into the agenda for today.

[00:07:24.12] - Speaker 1
So today I'm going to introduce you to Mentor Q and our missions. We're going to share our new product development and our benefits and the features of the product. We're also introducing our first machine learning model which is our swing trading model. We're going to share more information about that very soon. We're going to talk about indicators, integrations, how can you leverage the data of Mentor queue in your favorite platform and then we will show you a demo and some use cases. And at the end we're going to have a live Q and A sessions with Ryan and Patrick. So please stay tuned until the end because there's going to be a lot of things that we're going to share for you today. Today we're also sharing our product launch offer that will be available from today till the end of July. So stay tuned to understand how you can benefit from the offer. Throughout the month we're also going to have a lot of events and this is the agenda for the month. So today we're going to be live for about three hours. So I will go through the product session. Then at 12:30 we're going to be live with Doc, which is one of our traders.

[00:08:26.14] - Speaker 1
In that section we will go over the option trading strategies, zero DTE's options and how to implement option spread strategies. And we will also showcase our swing trading model in details. Tomorrow we're going live with Patrick where we're going to go through real life examples of how to use gamma levels and blind spot levels. There's still a lot of confusion. So today, tomorrow we're going to show you how you can actually be active in the market in less than 10 minutes a day. So don't miss that one. It's going to be a very good one. On Friday we're going to have our technical analysis webinar so we can, we're going to show you how to integrate technical analysis with options data to be successful. And then next week we're going to go live again and we'll close the month with a few live sessions with our traders. So a lot to cover in the next few weeks. Very excited about that. Let's start with our vision and why we have created Mentor Q. So for those who are not familiar with what we do, you know, like we, we believe that investing and trading is very important, you know, for anyone who wants to be build wealth over time, for those who wants to generate a second income or a passive income and for those who want to actually be a full time traders.

[00:09:38.29] - Speaker 1
Right. So we have a lot of users within the community that are actually trading full time. So but trading comes with risk and you know, statistics show that most traders lose money in the long term. And the answer is very simple. Sometimes traders are not leveraging the same tools that are leveraged by large institutions or they make trading too complicated. As a result, they lose money, they exit the market and they don't benefit from the power of trading or investing. And this is why Mentor Q was created. And our approach is very simple. We leverage a data driven approach, the same approach used by large quantitative funds. And that approach has proven to be successful. Then we simplify the data by creating quantitative models that can be used by any type of traders. And we've shown you that with our gamma levels and futures and with our other tools. And we're going to show you that today as well. Finally, what we do is we create actionable insights that will allow you to read the market in a few minutes a day. Tomorrow, in the session with Patrick, we're going to show you how to create a training roadmap just by looking at the data in less than 10 minutes.

[00:10:43.29] - Speaker 1
So that's going to be very exciting. The goal is really to provide our customers with the data they need ready in a few steps, you know, to better find opportunities and better manage your risk. The first step is and let's start really with our new website and our academy that is live today. So let's actually go to mentor q.com the website is live. So what we've done with the website is really, we've simplified the navigation and we've added a completely new user account section that will, you know, completely change your learning experience. So within the website we have divided the menu into products, features and integrations. If we start with the product section, you can now find all our trading models. Here you can actually filter by the asset class that you care about. You can see what's, you know, if you are a futures trader, you can see what's available for futures. You can then click on one of the models and you can see more information. You can see all the different features and you can also get access to our finance wiki, which is really our portal with all the resources and documentation that you need to understand these models.

[00:12:05.08] - Speaker 1
It's full of use cases, so there's 100 plus guys that are available to you. Then within the feature section you can see what is available throughout our membership if you are a free user. So if you've joined our community or mailing list, you can now get access to a lot of new tools that were not available before. We're introducing some free video lessons, some webinar episodes that we've done Our community, we're introducing a new daily newsletter that will be more actionable. So there's a lot of things that you can get access here, but let's go into, into the portal. So by creating an account for free or within, you know, being a premium user, you can now access our portal. Within the portal you have a getting started section where you can connect your Discord account. So our membership are delivered through Discord, we also have a free section. So you can actually connect your account very quickly, one step, very simple and easy. You can then read our guides directly from here and you can start learning. So this is your courses that will be available for you as a free user. And then we also have some premium courses too.

[00:13:18.22] - Speaker 1
So within the courses you can start from here. The goal of this initial course is to introduce you to the mentor queue data, to the importance of options and the importance of market reaction zones. And now to read the data. So this course will really help you understand, okay, how can I create the trading strategies by looking at the data and how can I get active in less than a few minutes a day? If we go back to our account as a free user, you will also have access to one of our options screener, which is our core resistance screener. And the goal of the screeners and we're going to talk to later in the website is really to help you streamline your analysis. Right? So we are going to filter out stocks or asset based on specific quantitative factors and and again you're going to be able to access those data right here. So every day this data is going to be updated. Now let's go into the Academy. So as we said at the beginning, we have introduced 18 plus new courses. And by clicking on the Academy you can see the full list.

[00:14:24.15] - Speaker 1
You can also look at the top, you can filter by category and topic and by clicking on on one of the course you can actually go into the course, look at the description, you can go into the lessons and that's available here. But the most important is that the Academy is available 24,7 from any device. And this is key because you can then learn at your own pace from anywhere, everywhere. Right? Very important. So we're very excited about the Academy, but what is new within the Academy, right? So in the previous version we were very focused on options, right? That was our starting point. Now we really are, you know, we listen to a lot of the feedback and we've created a series of courses that will support you in different ways. First, we see that a lot of our users are Actually technical traders. So they use the mentor key levels to find reaction zones. But their strategy is mostly based on technical analysis. So what we've done is we've introduced a series of courses that can help you leverage technical analysis like institutional do or like in the right way. The second step is our systematic funds, right?

[00:15:39.17] - Speaker 1
So we have within our membership systematic models like our CTAs and vault control funds. But we realize that a lot of our users are not really aware on how to better leverage them within the strategy. So we have created some additional content that can help you really understand how to use the model and be more successful with that content. So with the Academy, our traders should really have a good understanding of options, technical analysis, momentum trading, systematic funds and trading psychology. And again, the Academy is going to keep growing so there's going to be more courses that will be released very in the next few weeks. And you know, like, just like we will keep adding as long as one, you know, once we deliver new content. So the next step is really. So our focus has been always to deliver data, so actionable data to help traders be successful. And we do that through our premium membership. We have a lot of users that are using the tool every day. We're live on discord. We have a trading community very, very big. We have traders giving you access to their insights. But we understand that the majority of our customer are either advanced user or option traders and future traders.

[00:16:55.27] - Speaker 1
But we're now expanding our offering to include also technical traders as well. So with our data, technical traders can gain a competitive edge in the market. And throughout the month we're going to demonstrate how you can achieve that. But today we're introducing a new subscription model for our technical traders. So we're introducing our basic membership. And the basic membership will allow you to access our data and models with limited queries to our bot, but but not only to the momentum models or technical analysis models, but also to the more advanced models together with our Academy and our community. And the goal is really to help you be more successful, get access to the data you need and be active in the market in a few minutes a day. So the basic membership will allow you to access our key levels on your favorite stocks or other models on the asset that you care about. And it will also come with the TradingView integration. If we look at pricing going forward, the basic subscription will cost $39 a month and the premium will cost $89. And here you can explore all the different features that will be available within the premium and basic and what's you're going to get also within the free membership.

[00:18:05.17] - Speaker 1
But today, basically with the offer and the promo that we're going to share later, you're going to have the opportunity to sign up to our membership with up to a 50% discount. And the basic membership can be purchase for $24 a month and the premium one for $55 a month. If you purchase our yearly plan, you will also get some additional benefit. So for all our new users and then for our old user, we're going to reach out to you very soon as well. But if you choose the yearly plan, you will also get access to our Basic and our Premium Academy. So for example, if you purchase a basic yearly membership, you will get access to the Basic Academy, while if you purchase the premium yearly membership, you will get access to the Premium Academy. The Academy will also be divided into Basic and Premium. So here you can see the different course that are going to be part of the Basic and Premium section. So within the basic you will have access to 12 courses focused on technical analysis, momentum and systematic funds. While with the Premium Academy you will have up to 18 plus courses focus on advanced strategies with options, options, Greeks, how to better leverage our models and more.

[00:19:19.01] - Speaker 1
The free report will always stay free. So we're gonna continue provide you with a free daily newsletter. But we're changing the format. We wanna make it more actionable. And the format will change as of August 5th. So the current report will be different. So the new report will be shared with you in the next few weeks. But essentially the spx, the QQQ and the VIX level will no longer be in the report, but will be under the Basic or Premium membership going forward. But within the free offering you will also get access to all the resources or the free courses, all the things that I showed you within the portal. So if you have any questions, we'll keep that to the end and let's go back to the presentation. So at this point let's jump into the product which is really what everyone has been asking for for a while. Today we are going to introduce you to some of the new models that will be part of the membership. We're going to have option SKUs and Ryan is going to come up and share how to use the sku. We have a new term structure, we have a delta exposure model and then we're really excited about our new swing trading model.

[00:20:34.25] - Speaker 1
Right, that's going to be very, very exciting and we're going to talk about that later. Our new blind spot levels and then our New option screener. So let's start with the sku. The SKU was one of the most requested charts by our community. And in Q4, together with Ryan, we're going to deliver some more advanced SKUs and some more advanced volatility models that we've been working on. So let me just add Ryan to the, the, to the section. Yeah, but for the first, for the time being, you know, like Ryan is going to walk us through some example, but let's try to understand what it is. Right, so what you see Here is the 25 Delta Volatility skew. The 25 Delta Volatility skew refers to the difference in implied volatility between the 25 delta ports and the 25 delta cores. It's known as the risk reversal. And it typically looks at out of the money option. We have three SKUs available for our membership, which is the 0 DTES or next week, the expiration in case of stocks, the one month and the three month sku. Ryan, you know, I'm gonna pass it on to you and you know, you, you've worked as a market maker and obviously you're, you use volatility surface all throughout your career.

[00:21:50.11] - Speaker 1
So maybe you can show us what this QE is and then let's, let's go into some examples.

[00:21:58.12] - Speaker 3
Yeah, absolutely. Thanks, Fabio. And you know, so just again, to emphasize what he was saying here, that, you know, it's just a measure of, you know, puts versus calls. And, and just a quick reminder for anyone who's not familiar, implied volatility is how we price all our options. It's one of the key variables in determining the price of an option. Higher implied volatility means higher option price. Lower lower implied volatility means lower price. So when we look at the sku, we're, we're saying, how are the implied volume? How do the implied volatilities compare between, you know, two different points on, on the curve? In this case, we're talking about calls typically, you know, up, up above the current at the money price and puts down below. So, so, you know, here you can kind of see from these notes that if you've got higher call volatility, then we can call that a bullish skew. And the market either anticipates a higher likelihood or a note that I would add is that the market views thinks that if we rally, things will get significantly more volatile. So you're more likely to see that for a single stock, particularly if it has, say, earnings surprises coming out or something like that in the near future.

[00:23:21.14] - Speaker 3
Additionally, we see that in some commodities where people are concerned about, you know, shortages and then. Yep, so we can go on to the next one and then, and then we've got bearish skew. So this is when you've got your puts higher than your calls. The implied volatility for puts is, is higher than the implied volatility used for calls. This either suggests that the market is expecting, you know, a decline or at least thinks that there's a higher risk of a decline, or if the market does decline, we expect volatility to go up. You typically see this for the entire stock market and thing and for futures that are, tend to be correlated with the economy. So we also tend to see this with crude oil and copper. And so it doesn't necessarily mean that the market thinks that the price is going to go down, particularly when you're talking about like the s and P500. But what it's really saying is if we fall, volatility will spike. So there's some. And the reason for that is that, you know, typically when the s and P500 falls a lot, it's because there's a big recession, a crisis, and in those periods volatility tends to increase.

[00:24:30.27] - Speaker 3
And so a bearish skew. Again, it can mean either, either thing. When we're talking about a single stock, it probably means that the investors are more worried about the downside risk to that stock. And when we're looking at broader markets and macro indicators, again, it's, it tends to be more of a focus on, you know, expectations of volatility if the market declines. So how do we use that to trade? Oh, and then finally neutral skew. So this just means that they're roughly even, right, that the call implied volatility between the calls and the puts is about the same. So the market's not really giving us a strong directional bias and doesn't seem to think that the, the realized volatility is going to be a function of price levels. So how do we use this portrait? So we, we. I just said a lot there. But you know, it's easier to walk through a couple of examples. So first we have a simple.

[00:25:23.04] - Speaker 1
Before we go into that, also, one thing that we are introducing that is new is the term structure. So we've added a new chart and we also added past term structure. So you can see the term structure today versus yesterday, five days ago and 30 days ago. So that can give you like a good understanding if the market is changing. You know, if the term structure is Shifting, moving towards contango, backwardation and so on. And how can that be leveraged? So, yeah, yeah.

[00:25:53.18] - Speaker 3
And so really those two things combined, term structure plus skew, it really helps us think about where options are relatively cheap and rich. As traders, we always try to have this idea of, you know, what's fair value and then what's relatively cheap, what's relatively expensive, expensive right now, particularly when you're a market maker. And so together that gives the SKU and the term structure give you the whole sense of, hey, if I want to buy options, I want to go find where I think the relatively cheapest place to buy options is in the, you know, in the volatility surface using both term structure and, and sku, you know, I want to sell options, you know, vice versa, then I want to find the most expensive implied volatility to sell. So right now, looking at term structure, we can see a pretty consistent story over the last day or so. You know, things have kind of become more middling. You know, there's not a strong signal from this. But I'm going to just focus on actually where we were about a day ago, the red line, the red dotted line down there. So, you know, when markets, when markets have periods of really low realized volatility, but market makers, you know, don't want to basically sell, sell longer dated options too cheap because they're concerned about a big spike.

[00:27:16.23] - Speaker 3
We start to see what we saw in the last couple days, which was this big, sometimes called contango, but an upward sloping term structure. So you could see that and we saw that across the board we were seeing these kind of really low short term implied volatilities that were going up over time. So again, the market's telling us that, hey, volatility is really low right now, but it's not gonna, not necessarily gonna stay that way. And as we go further out on the expiration timeline, then we're going to start seeing applied volatility go, go up. And so again, if we're, if we're thinking about buying options, you know, typically we're going to get options much cheaper if we buy the very short dated stuff. And if we want to get higher prices for the options we sell, we're going to want to look at long dated.

[00:28:07.20] - Speaker 1
I think now, Ryan, if, you know, like, how can we combine and you know, we're just going to do with this one last example, but then we also have a session on July 24th just to specifically talk about SKUs. But here you see obviously two charts which is the at the money term structure and the SKU 3 months Q for Nvidia. So how can you actually use this chart and what can you derive from it?

[00:28:33.14] - Speaker 3
Yeah, absolutely. So, so taking a look at Nvidia. So what can we see here? So when we look at the sku, what we can see is that after a brief dip, the puts have gotten really expensive on Nvidia over the, you know, over the time period that's in question or at least relatively expensive compared to. They're, they're at the top end of the range. So you know, not a great time to be buying puts as a trader. So there's a few different strategies that we can look at here. So kind of beginning level bull strategy. And again, you know, I want to emphasize that these markets don't necessarily tell you that there's one trade, but depending on what your basic outlook is on the market, you can almost always find an option structure from the SKU that'll support your position. So for example, if you're bullish, Nvidia, what, what can you do with this? Well, when you know, puts are relatively high, it might be a good time to actually sell puts to get exposure to Nvidia. You get a long, you know, effectively a long bias by selling those, those relatively expensive puts. And you could also sell the puts and buy the calls, you know, if you wanted to get some leverage.

[00:29:49.01] - Speaker 3
So you might be able to get cheaper leverage if you wanted to do, you know, basically get more exposure to Nvidia than you would otherwise by selling puts and buying calls. And you could probably do that more basically more times than you'd feel comfortable buying underlying contracts. Plus that would help insulate you from some of the noise and the short term choppiness if you just wanted to be exposed for the big moves. But let's say you're bearish. This is a little bit more advanced strategy. But knowing that the, the put skew is, is the way it is. So those out of the money puts are going to be much more expensive and the calls are going to be relatively cheaper. We could look at buying it in the money put, which will actually use the, this a bit more advanced but uses the implied volatility from the calls because it's in the money and we can look at buying it in the money put and selling it out of the money put. And so basically creating a put spread, but a put spread that's favorable to us because the put that we're selling is, is going to be higher implied volatility.

[00:30:55.12] - Speaker 3
So we'll collect relative relatively more premium. We will have to pay a premium to buy this put spread. But it should be relatively cheap to express a fairest view on Nvidia and probably a lot safer than say shorting the stock. What if you're just a technical trader and you're not here to trade options at all? What can we say from this? You know, I think you can actually get a lot out of these SKUs, which is why I'm guessing this is such a popular request. You know, if, if I'm trading Nvidia right now and I was long, I would personally be lowering my kind of take profit targets. And the reason being is that the market does not seem to be pricing in the, the risk of the, of a huge spike, you know, a hugely volatile spike. I know that's been happening for an Nvidia for, you know, a while now. But it seems like the market's starting to say that the risk is becoming a bit more symmetrical. So after previously being a stock where the kind of explosive movement was to the upside, it seems that now the market's saying, well you know, it could be pretty explosive up or down now, you know, suggesting Nvidia has become at least a bit more fairly priced.

[00:32:05.21] - Speaker 3
So if I was, if I was, you know, long Nvidia and working some take profit targets, I would probably tighten those up. I wouldn't be quite as aggressive or ambitious thinking oh, you know, this thing's going to go to the moon. I'd be, I'd be in and out quicker because you gotta, you gotta increase the kind of probability of a downside sell off relative to the rally.

[00:32:27.03] - Speaker 1
Right.

[00:32:27.20] - Speaker 3
And then next chart. Yeah, so that's how I think about Nvidia. We've seen something a little bit different with, with qqq. So with qqq we've seen the exact opposite. The put prices have fallen significantly relative to the calls. We went from kind of the high of the range to making it basically a new low. So we're going to have kind of opposite set of, you know, strategies here. So, you know, if we're bullish, what do we do here? Well one, one option is you can buy Q. Q. Q. And then let's say that, you know, you're long or let's say you're already long Q. Q. Q. But you're thinking, hey, this seems like an opportunity here with puts getting so much cheaper. Could be a great opportunity, particularly if you're long term bullish, but you're getting a little bit hesitant about the macros. You're a little concerned about a potential pullback. Things have been going really well for a long time. You know, maybe we're at risk for a, a retrace or retracing some of these gains. So what could you do? One option would be to buy puts and sell calls against your underlying long position.

[00:33:39.17] - Speaker 3
That's effectively a cheap insurance kind of trade. So you're basically saying, hey, I'm going to cap my gains and I'm going to put a floor on potential losses or you know, if I want to, if I'm concerned about giving back some of my profit. By buying that put and selling that call, I've basically protected a certain amount of my profit. Again, cap to my upside. But, but it's not going to be nearly as unfavorable as it would have been before. You're not going to pay a big premium for that put. They're almost going to cost you about the same in terms of puts and calls. So again, I, I like that trade, you know, basically doing in the options market the opposite of what your, your natural position is. Long or short, again just kind of gives you take some volatility away. And then here's a bear strategy. So with puts getting so, you know, so sorry, let me check here. So puts have gotten a lot cheaper. So you know, an advanced level put bear strategy might be to sell one at the money put and then buy two out of the money puts.

[00:34:45.00] - Speaker 3
So the idea here is that, you know, if we don't want to pay a lot of premium, but we do think Q. Q. Q. Is ripe for a sell off, maybe one way, a big sell off particularly we're not paying a lot of, of premium right now. Again, this is always relatively speaking to buy a very low strike put. It's, it's relatively much cheaper than it has been. So we could buy a couple of out of the money puts, 2, 3, 4, depending on what ratios you're interested in, and then sell and then sell the, at the money put and try to make that premium neutral or even collect premium. And that kind of structure will give you a big payoff if the market really collapses. And then finally again for technical traders, this is telling us the opposite of Nvidia, right? So implied volatility is not so concerned, at least in the short term. We have relatively low short term implied volume looking at the term structure and we have relatively low implied volume for the puts. So it's kind of telling you that things are safer. So you are kind of safe to, if you want to work Tight stops.

[00:35:57.15] - Speaker 3
You know, if you're the sort of trader who uses targets, take profit targets versus a stop loss. You know, if we're in a really choppy, volatile market, I'd be worried about running a tight stop. Very high probability you're going to get stopped out. You know, this is telling me that, that we can work tight stops and, and we're much less likely to just get knocked out of our position on, on a big down day.

[00:36:20.18] - Speaker 1
All right, thank you so much, Ryan. And so we're going to be, you know, Ryan is going to be here for the Q A, so if you guys have any questions, please put them in the chat. We also have another session specifically on SKUS on July 24th, so please stay tuned. We're going to send you all the invitation, but before we do that, there's been a lot of questions about current users on our website. So the whole website is going to still be up and running. So for those who have an account, please bear with us. It's going to be live back in a couple of hours and you'll be able to connect again there. And we're also going to run a migration to the new account. So, you know, there's a lot of questions on how do I get access to all this information? First of all, all the models will be available within Discord at the end of today. The Academy, we're going to run the migration over the next few weeks, so please be patient with us. But there's a lot new things that are going to come, so we're very excited.

[00:37:22.02] - Speaker 1
So thank you, Ryan, and we see you at the end of the day of the webinar. All right, let's move to another feature that is going to be available today, which is the netdex chart. Netdex stands for Net Delta exposure. And this kind of like was a feature that was missing within our product. But it's very important for traders. So the net delta exposure measure the total delta exposure of market makers in a specific asset. Delta represents the sensitivity of an options price to changes in the price of the underlying asset. So netdex aggregates the delta of all option held by market makers, providing a snapshot of the overall directional exposure. So to simplify that, you know, tracking net Delta allows us to track liquidity even better. So if the net delta, the net DAX is positive, it indicates that market makers have a net long position in Delta. If net net DAX is negative, it indicates that the market makers have a net short position in Delta. Again, this model is going to be available on stocks, ETFs and indices and you'll be able to find it through the bot later today. We can look at also delta within our option matrix.

[00:38:43.26] - Speaker 1
There's been a new change in the option mattering highlighting the change in delta and gamma over the next over the last day. You can also see the delta in our main chart. So again this is going to give you a clearer picture how can you use this data? Right. Again it's always about market reaction zone. So we can pull up the chart in this case we're looking at the QQQ from yesterday. We can see there's a big spike in delta exposure at the. I think it was at this level with the one that is alight in the circle here. So as you can see becomes a very strong market reaction zones very close to our core resistance level. The prices retraces and goes towards the new gamma levels towards the bottom. So again, very important model is available. It will be available for our membership at the end of today. The next step in. We are really excited about this because this is our first model leveraging machine learning and artificial intelligence. So it's the first step towards a quantitative approach. Right. And this is also something that has been asked for us from our users.

[00:39:52.20] - Speaker 1
Which is a swing trading model. Right. So the model is designed for traders who are who have a longer term horizon that are not in front of the screen every day and that are interested in swing trading and not the day trading. Right. So if you just want to like trade with a 20 days horizon, 5 days horizon. Now we have a model that can help you there. So the model uses as an input our net delta and net gamma as well as momentum, price triggers and other proprietary option signals to get three levels on your chart. The model offers first directional bias as well as volatility component that allows us to forecast potential price swings of an asset over the next few days and weeks. So we have two time horizons that we offer within the model. One is the five day and then is the 20 day and you'll be able to access this model directly to the bot in the morning on the asset. Again right now we don't cover futures but we will in the future. But we cover all the stocks, ETFs and indices. But let's break down on how it works.

[00:40:58.25] - Speaker 1
So the indicator has three components. One is the upper band. So the upper band represents the highest price level that the model predicts within the specified time horizon, whether it's five days or 20 days. And what it does, it helps traders Identify potential resistance level and look for upper limits of the price movement. Then we have a second level which is the lower band. And the lower band indicates the lowest price level forecasted by the model within the time Horizon, which is five or 20 days. So it can give you like really good insights of potential support level and help you identify entry and exit point. The third component is the risk trigger level. So the risk trigger is a very important component that alerts trader when the price approaches level that could signal significant market movements, it could be signaling a new trend, it could be signaling a trend reversal and so on. So it can help you really understand when the volatility is changing and maybe you know what to do with your trade and how to plan your trade accordingly. At the top of the chart, and I'm going to make it bigger, you can see the backtesting results of the model on the stock that you're looking at.

[00:42:13.21] - Speaker 1
So if you are requesting Tesla or Nvidia, it will show you the success rate of the upper band, the lower band and the risk trigger. And also it will show you the success of the model as well. For success rate, we what does success rate mean for us? Right? For us, it means that if the price of the asset in the next five or 20 days close above the lower band or below the upper band. And we're going to explain this in a few seconds. So this brings us to how can you use the model? So on the right hand side, every day the model will show you two price levels. We're going to have either an upper band or, or a lower band. We will never have them on the same day. And these lines are the ones that are considered by the model and have a higher relevance. Then you can see the risk trigger level that could be either at the top if the lower band is present, or at the bottom if the upper band is present. So the dotted line is really a risk assessment level. Those two levels express the volatility range of the asset within the specified time horizon.

[00:43:20.02] - Speaker 1
So five days and 20 days and these levels update on a daily basis. So let's go to the next slide. This brings us to our directional bias. So if an upper band is present, our model based on the data has a bearish bias. That doesn't mean that the price is going to drop, but the there is a bearish bias and there could be a bearish trend if the lower band is present, is present in our model based on the data as a bullish bias. So again, how can you then use the model? Right? So first, swing traders. So this model is designed for swing traders. Upper and lower band can define your trading roadmap. So when you're swing trading to the upside or downside, they can be your target levels or your stop loss levels. So very important. If the price approaches the upper or lower band, it could be a signal of a potential reversal. Again, very important information. If the price breaks above the risk trigger level, it could be a sign of an increased volatility. So it could be a start of a new trend. For example, west can use this model stock and option traders.

[00:44:31.29] - Speaker 1
So these levels can be used by option traders to place their strikes Direction exit plan. If you are a directional trader and you're long or short the asset, you can use this level as potential profit targets. Stop loss level. But finally, option sellers. This is a very important tool for option sellers because if you are looking to sell option and you're looking for premium, the model has a larger time horizon, right? So a lot of our users are 0dte traders. But that obviously can be very dangerous because you are not getting a lot of premium for the time that you're in the position, right? So now we have five and 20 days and that allows you to take a larger premium by limiting also the risk. And after this session at 12:30, we're going to be live with Doc and we're going to go over option selling strategies and how to use this model for swing trading. So if you have any questions, please keep them to the end. We're going to answer all of them. But let's go now to what something that everybody's been talking about over the past few months since we, since Patrick, and Patrick is here with us.

[00:45:42.00] - Speaker 1
But we're gonna wa. Wait until the end. But basically is our blind spot levels, right? So the blind spot levels can be used by future traders or day traders to gain faster insight into the asset price action and gain an additional layer of protection. When you're trading tomorrow, we're going to have an interesting live session. So if you please, you know, stay with us. We are live again at 11am the session is also going to be recorded. So this is going to be a very good one because Patrick is going to show you the power of blind spot and how you can get set up in a very few minutes a day. So this goes back to what we discussed at the start. Really like leveraging data to create actionable insights and be up and running in a few minutes a day. So having a clear path of hey, where is the market going today and what Should I do so? This will allow you to better manage your risk and potentially become more successful. So why blind spots and why did we develop them? Right, so when we started Our Newsletter In 2023, we were only providing gamma levels on SPX and Vix maybe.

[00:46:50.28] - Speaker 1
And then we started really introducing stocks, ETFs and futures. So the levels on SPX became really precise and they became a vital tool for our users. But those who trade directionally, you know, you cannot really trade the index. So therefore you want to trade either the future, the spy. So you want to like be able to plot the data coming from the SPX on other correlated assets like the ETF or the future. That is why we built our first TradingView indicator. So having the ability to, you know, plot the SPX level on SPY or, you know, or VIX or, you know, other asset was very valuable. But then we realized that market reaction zones of cross correlated assets have a very important impact on the asset we trade. For example, an important gamma level on nq, which is the NASDAQ future, will have an impact on other assets like the vix, the spx, the SPX future or even Gold. Right. So having access to a tool that can simply plot these levels in one chart allows our users to be more proactive and plan the roadmap. Right, so again, Patrick is going to talk more about that.

[00:47:57.02] - Speaker 1
But you know, time is money, right? Having to spend more time doing analysis and having multiple charts open, it's time consuming. Right. And this translates in missed opportunities and eventually money again. So this is why we're trying to simplify this process. So tomorrow we're going to have a session on Blindspot and maybe like, we'll have a question for you, Patrick, at the end. But basically we're introducing an advanced analytical tool that is designed to uncover hidden opportunities and risks that traditional analysis might overlook. So let's go and see some examples. Right, so these are the data from yesterday from our indicator. So we're looking here at the NQ futures. So nasdaq then we have the blind spots on gold, we have the blind spots on oil and again the blind spots on Russell. And look at the blind spot. Level 7 really acted as a magnet on the initial pullback and then made, you know what, the price then reached back up, closing at the end of the day yesterday. So blind spots, very important. They'll be live. And we talk more about them with Patrick tomorrow or at the end of the session. Then we're going to go into our option screeners.

[00:49:10.19] - Speaker 1
So at the beginning of the year, we released the first version of our screeners, but we've now updated it with a new set of scanners. So we have actually more advanced scanners now. So we, we will cover anything from Greeks to volatility to key levels. Basically, like, you know, we use quantitative factors that can help you screen for stocks. But why are the screeners so important? Right. Stock screeners really allows you to filter out and search for stocks that are, are matching or meeting predefined criteria. So they allow investors to sort through a vast universe of stocks very quickly. Again, time, money, you know, you can do your research faster and you can find opportunities. So now what's going to happen within your account settings? If you join our premium membership, you will get access to our option screeners. And I'm going to show you a live demo now as well. So the screeners are integrated within our website. Let me just go through them. All right, so within the website, within your account settings, right here I can go. And I can go on my screeners. And here are all the screeners that are available to you.

[00:50:38.04] - Speaker 1
So they are divided into different categories. Gamma, again, we already mentioned delta. So Dax and Jax, these screeners are really advanced. They will show you the change index, change in jacks, expiring decks and jacks over the next few weeks. There's documentation about it as well. Gamma levels. So a lot of our users really love our gamma levels. Right? So every morning you can actually get a list of stocks that are approaching a particular gamma level. So let's imagine that you want to find, you know, buying opportunities or selling opportunities. You might, you might want to look at the core resistance screener. And if you are in one of these stocks, you might want to look at a potential like, you know, like analysis of why, why is the stock approaching the core resistance and what does that mean? Right. We do that for all the different levels. We also have open interest. Open interest is like a sentiment indicator. So the change in open interest will tell you if investors are closing or buying positions on options. Does that have a directional bias? So you'll be able to do that. Volatility and volume. So unusual option activity.

[00:51:47.07] - Speaker 1
Call activity, put activity again, indication of where the market is going. All right, Next, we are very excited and we're going to talk about integrations. So at this point, we're gonna switch gear and we're now going through all the models. So again, please send us all your questions. But basically, why are we talking about integrations? Because every retail trader has their own preferences. When it comes to platform they use, right? So some, some use some platforms, some use others, but not all models can be plotted or can be integrated in every platform and, and unfortunately that is not possible. And a lot of traders, sometimes they miss opportunities just because the model is not integrated into the tools they currently use. So as many of you know, our key levels are currently available on Trading View. But as the community grew a lot of the traders were asking us, hey, can we have additional platform, additional integration? So now we are excited to share that we are going live with four integrations. So we're going to have a new TradingView indicator and then we're going live with three additional indicator integrations. So the first one that we are very excited about is ninjatrader and I'm going to show you a demo in a few seconds.

[00:53:11.05] - Speaker 1
This is one of the most used trading platform by futures traders and ninjatrader is used by over 800,000 traders for market analysis, professional charting and fast order execution. So for us this is huge. So we are very excited to be partnered with the Ninja Trader team. We are deploying the indicator within the ecosystem and our user will be able to use the levels directly on the Ninja Trader platform. The Next integration is MetaTrader, another widely used platform by retail traders. The platform is used by a lot of like futures and forex traders. So similar to ninjatrader, you can now leverage the Mentor Q levels directly into the Meta platform and add them to the chart. Next is Sierra chart. Sierra chart is not live today, but it will be live within the next couple of weeks. And again, these guys have been around for some time. The platform was started in 1996, so a lot of our users are using the platform. So we are developing an integration for Ciara as well. So let's go and see how that looks like. So first of all, within our website, once you join our premium membership, you'll be able to access our integration section and you'll be able to see all the different integration you have, Ninja Trader, metatrader and so on.

[00:54:36.02] - Speaker 1
So you'll be able to access the indicator, you'll be able to download the, the Q levels files on a daily basis and again, the Ninja Trader integration would be, would get you up and running in less than 30 seconds every day. So you will come here, download the indicator, download the file and you'll be up and running on NinjaTrader. Let's, let's go into the platform and let's see how it looks like. All right, so once I download the indicator, all I need to do is come to the Mentor Queue account portal and download my Ninja Trader levels. They update once a day. I can simply add them to the chart here. And as you can see, the levels are plotted here. The indicator allows you to do a few things. First, I can show the price on the chart. I can change the color, I can change the font, I can change the type of lines that I want the levels to be. Here you have all the different levels from our core resistance, our JAX level. You'll be able to untick the levels that you don't want to see. So we have some users that don't really care about JAX level 8 or JAX level 7.

[00:55:47.13] - Speaker 1
So you can take it out of the chart. And then we also have our custom levels and those would be our blind spots level or our user base level. We have a lot of users that are calculating their own levels. You'll be able to plot them into the chart as well. You can also define if you want to plot these levels or not. So as you can see, the blind spot level disappears here. And if I put it back, it will appear here. So these are kind of like the settings. But what's cool about this is that by downloading one file and uploading it into the platform, I can actually be active on my trading and I can actually have the levels already pre populated on all the futures that I care about. So for example, If you see here in the case of ym, we don't have gamma levels, we only have blind spots levels. So so as you can see they are here. I can also. Choose any other futures and again the levels will be will be plotted here as well. Sorry for that. Right, so very easy. You'll be up and running in less than 30 seconds every day.

[00:57:07.21] - Speaker 1
Download the file, upload it to NinjaTrader and you'd be, you'll be there. All right, so the next thing is really showing you what can you do now. So let's go into our discord and yeah, let's give you a very quick demo and then we're going to go into our Q and A. So we're going to release a new bot later today. So all our premium user will get access to the new model. But let's say you want to do some analysis and you want to start using our string model. You can do that on any stock that you like. I can do that on Tesla. I can open the chart, I can see the success rate, I can see the different levels. In this case I'm looking at the five day level. Then Maybe I want to look at the sku. So I want to see, okay, show me the one month SKU on Tesla and how it looks like now you're going to have the ability to do that. You can also go back in time by clicking on the arrow. You can go back for up to five days so you can actually see how the SKU has changed, how the swing models change.

[00:58:22.06] - Speaker 1
Then maybe I want to add my key levels, right? And then I can always do that and I can do it on Tesla again. But then maybe I want to like download the levels so I can actually come here, download the levels and then bring them on to TradingView. So now that we have the levels, let me show you the TradingView integration and something that is actually new with the indicator that we're going to release today as well. Let me just bring the indicator here. So let's go through the new indicator and why is exciting. So first of all, let's go through the settings. You can now add your levels directly here so you can download the levels from the bot, put them into the chart and you're up and running in trading view in a few seconds. Again, we have the table. Nothing has changed there. So you can add your levels to the chart. You can have a table here. Very useful for traders to monitor how the price is approaching one of the levels. Very useful. We also have now the ability to change the lines. So one of the requests was, hey, I want to have dotted lines and I want to change the color of my level as I want to.

[00:59:54.19] - Speaker 1
So we can do that now. You can also create alerts on the levels by doing that. You can also untick some levels. If you don't want to see any of these levels, you can untick those here. But the very important thing is now you can actually convert any gamma levels to any ticker. So let's imagine that in the same principle as the blind spots, I want to bring in SPX level to Microsoft. Okay, I can do that, but also how can I convert it? This is a new thing. We now have the auto ratio conversion. So a lot of the questions that we were getting over the past few months was like, oh, what ratio do you use to convert QQQ to enq, right? And it was very confusing. So now we have added the possibility of adding an auto ratio. The auto ratio will calculate the conversion based on the previous day close. So you can actually convert the data automatically. You can always keep your manual ratio if you want to keep your ratio, or you can do your spread. But by Doing that, I can actually go now on my Microsoft stock.

[01:01:06.02] - Speaker 1
And now I can see that now I have SPX Gamma levels automatically converted into Microsoft. Again, very important because Microsoft is a big part of the spx. Now we have the levels and we can actually leverage them to get faster insights. All right, so this concludes kind of like the demo. Let's go back to the promo and let's add Ryan and Patrick to the stage for our live Q and A. So as we said, with the new platform, you can now get access to our Basic or our Premium membership. The Basic will have a limited number of queries and the Premium one will give you an unlimited access. If you're switching to the yearly plan, you will also get the Academy included. So Basic Academy. Basic Premium, Academy included in your subscription as well. Before we go into Q and A, Patrick, do you have anything that I missed or anything that you would like to add?

[01:02:21.20] - Speaker 2
No, Everything was perfect, champ. Everything was good. I think we take every step. Yeah, it's just nice.

[01:02:29.10] - Speaker 1
All right, so. Okay, we have a lot of questions. Let me see. Okay, this is actually a good one. The conversion right now is not beta adjusted, but we are developing a beta adjusted conversion as part of our blind spot indicator. Does the monthly premium plan include the Academy? No, this is only available for our yearly plan and for our current users. Please stay tuned. We're going to run the migration, so please allow us some time. We've added a lot of things, so please. Yeah, we'll get in contact with you very soon and we'll share all the information, the details to do the switch. Okay, this is another interesting one. Any plans in integrating with quantower? A lot of users have been asking. Not right now, but we are looking into new integrations. So we're looking into thinkorswim, we're looking into one tower, we're looking into others. So yeah, stay tuned. We'll keep you posted. But those four are very exciting for us, so. So could you remind us if the screeners are limited? Yeah. So the screeners will be based on stocks, ETFs and indices. The futures are not available yet, but they will be very soon.

[01:04:14.24] - Speaker 1
So, yes. Around a thousand assets. Correct. See if there's any. So, Patrick, what are we going to talk about tomorrow?

[01:04:38.07] - Speaker 2
About the blind spots? We show how we build a roadmap, how we can do the analyzing in less than 10 minutes to be aware of this. Very exciting. But I see, I see one good question, and I think I would love to answer this from Paulo, but why someone should convert levels from an index to a stocks. Do you see this? Yes. Okay, but why someone should convert levels from an index to a stocks or it doesn't make sense an index can go and on a put support for bad news for example Nvidia and and so on. Okay Paulo, this is a good question. So if you be an options trader then you could be maybe. Maybe right. Then the. The data from from Microsoft or from from other one makes not so much sense but don't see it like put support call resistance and all this stuff see it more like as possible support and resistance what you was maybe not sure not not seeing and prove the plotting on your shot from I don't know Microsoft on on Spy or so on. Then you see some some nice support and resistance areas what you may be not seeing before or only with some other analytic analyzing tools.

[01:05:59.23] - Speaker 2
Yes, you're right. From the options perspective make make no sense but from the support and resistance and possible market shifts makes completely sense.

[01:06:12.03] - Speaker 1
Makes sense. Question from Simon when will the new bot or the new queries be available? Later tonight, early tomorrow. So there'll be. The team is working on getting them out up and running. So yeah the new infrastructure is up. We should all be set by tomorrow morning. The new indicator will be shared in discord and is already part of the new website. So yeah, you'll get access to it very soon and it yeah the goal is to kind of replace the old ones. I mean you don't have to trash the old ones but this one has a lot of new features that have been requested and you know, I think there's a lot of added value there. Yeah, this is another good one. Can the NINJA Trader indicator do like the trading view 1 and add any levels to another instrument? As of now, no, but potentially in the future. The good thing about the NINJA Trader indicator is that again by downloading one file with all the levels you guys will be up and running in literally 30 seconds. So yeah, that's very exciting but we don't have your conversion yet on the NINJA Trader.

[01:07:35.06] - Speaker 1
Another good questions. Can current member access it today? We are. The current members are in the process of being migrated so not yet but soon. So please bear with us. We're gonna share all the details on how we can convert you and get you access to the new website very soon. And Ryan, is there anything that you want to add? Like I don't know like obviously we are very excited about the new kind of volatility surface models that we're building but I think the SKU and the Term structure is kind of like the first step towards that. But yeah, anything you want to add on that topic would be awesome.

[01:08:22.22] - Speaker 3
No, I think you covered it. I mean, looking at the, looking at the comments, apologies if I kind of blew through that one. There's a lot, there's a lot to think about and talk about with SKU and term structure. And so I think we'll be doing some, some more charts where we call out specific, you know, specific subsets and kind of arrows and pointers and such to, to really focus on like where we're looking and, and how that's guiding the thought process. But you know, as one of the comments mentioned today was just to kind of show you, we've got this now and we're going to continue to be adding things around, understanding the implied volatility surface and all that entails. So yeah, looking forward to doing more deep dives under that subject.

[01:09:06.14] - Speaker 1
Yeah, absolutely. And yeah, we are very excited about the new models. Again, we've been working with Ryan for the past year and a half and you know, this has been great because you know, your experience together with our technology. So we're kind of bringing together something that I don't think is available right now. So very excited. Scott, good question. Yes, there is another webinar in 26 minutes and I think we shared the link via email. I can also share it. We are going to be live on YouTube and if you want to be part of the, of the live on here, let me share the link here. One second. But yes, we're going live in 24 minutes. We're going to talk about option selling zero DTES swing models and, and yeah, and then Doc, which is one of our trader will be, will be at that session. So just let me get the link for you guys. I'll just post it here in the comments. Yeah, Mike. Yes, we will reach out about the migration so absolutely. Yes. So we'll, we'll, we'll get on it after the webinar. Does the new trading view indicator update the levels automatically on a daily basis?

[01:10:59.25] - Speaker 1
Not as of now because of some limitations with TradingView. So you still need to upload the levels. But yeah, that doesn't change the process but there's going to be additional feature with the new indicator. And Anthony, the. Yeah, the webinars will be accessible within your account post portals. So if you create a free account you'll get access to those. They're also going to be on our YouTube channel, so again you can access them anytime.

[01:11:32.25] - Speaker 3
Fabio, do you want me to get this question from Jim here, if you want to go back to the chart, I can just hover over that real quick. Some mouse show up our pointer so we can point on onto the screen or.

[01:11:53.10] - Speaker 1
Which shot was it? Was the Nvidia. This one, right?

[01:11:57.20] - Speaker 3
Yeah. So to zoom in. So, and I know this is a little confusing, but so, so first looking at the sku, the top one is just the price, so I know that can be a little distracting, but we were actually looking at the SKU on the bottom. And in this case, skew is a measure of implied volatility of the 25 delta put minus implied volatility of the 25 delta call. So it doesn't exactly tell us if that's the, in the bottom left quadrant here, you know, that green line. And so while we can't, you know, say in absolute terms if the put is cheap or the call call is expensive, we can say that the put is relatively high versus the call. So, and I'm, and I'm just saying that by looking based on the trading range, right? So I'm saying that it ranged from like 20 something percent to. And I can't see those numbers either. Hold on one second. Zoom in. Yeah, so it's like minus 20 to plus 5. And then the term structure, you know, that's just implied volatility. So that one's a little more straightforward. That's just versus expiration. So we're saying that like the shortest stated, the shortest state expiration has low implied volatility and then there's a hump where implied volatility goes up and then it starts declining again.

[01:13:26.20] - Speaker 3
Does that answer the question?

[01:13:31.15] - Speaker 1
That's it. Yes. I think we have some questions on blind spots. We're gonna answer them tomorrow. So the, you know, tomorrow is going to be dedicated to blind spots levels. Why does it make sense? And why, why you should look at that. We're gonna, you know, discuss it in details tomorrow. Are the blind spots going to be available into NinjaTrader? Yes. Not today, but we will build the code to have the levels already automated. So yeah, please allow us a few weeks to do that. But yes, they will be. And then in the next session with the doc In 20 minutes, we're going to talk about the swing trading model. So how can you use it? What do the levels mean? How can an option seller use it? Or what if you have a directional bias? How can you do that? Will the SKU be available on currency future? Yes, in the future. There are some challenges in the futures data on the way contracts are defined because of the rolling and all of that. So there's not a lot of history that we built on that. But potentially we are looking into building term structure and SKU on futures.

[01:15:07.07] - Speaker 1
All right, so I think this was a great session. We made it in just over an hour. We had a lot of people. Wow, 1500 people connected. So that's great. And again, I want to thank you everyone for this session. We are going to be live again in 15 minutes, 18 minutes. So today, tomorrow, this week there's a webinar. Again, let me show you again our schedule. So everything is available on our discord, our mailing list. So again, tomorrow we're live with Patrick. Today we're live with Doc Technical Analysis webinar. On Friday, we're going to be live again with ryan on the 24th to talk about SKUs. We're going to have some great examples. On the 26th, we're going to show you how the Ninja Trader platform can work. We're going to have Tim or Chester in our discord, we're going to talk about macro. Then on July 29th we're going to have a session with our users, show some user experience on how they use the levels, how they have changed their way of trading. And then we're gonna have some more Q&As on the 30 and on the 31st. So anything, please reach out to me.

[01:16:22.28] - Speaker 1
Discord email. Yeah, so please let us know and see you in 20 minutes if you want to be part of the second Live for Today. Otherwise, see you tomorrow. And again, thank you, Patrick. Thank you, Ryan. Great session. Thank you, everyone.