Trade Options like a pro using Bookmap | Doug Pless

Doug has been trading options for 10+ years and has developed a very unique style and strategy. He uses data from Spotgamma to give him an overall understanding about the market structure and then reads the order flow in Bookmap to pinpoint trading opportunities.
Twitter: / dougpless
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ABOUT BOOKMAP
Bookmap is a cutting-edge trading platform that lets you visualize market liquidity and gain incredible insight into the order book.
Trade with confidence as you watch the market evolve in real-time at 40 frames per second. Identify market trends, discover hidden price patterns, and understand order flow like never before.
GENERAL DISCLOSURE
All Bookmap Ltd materials, information, and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Live trading is in simulation demo paper trading mode, and strictly for educational purposes. Live trading executed in simulation cannot accurately represent realistic trading performance.
RISK DISCLOSURE
Trading Futures, Equities, and Digital Currencies involves substantial risk of loss and is not suitable for all investors. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security nor life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Timestamps:
0:00 - Introduction and streaming schedule
0:27 - Disclosures (General and Risk)
1:05 - Contact information and channels for questions
1:27 - Key tenets of Doug's trading approach
2:00 - Explanation of S&P 500 and market maker hedging
2:21 - Explanation of NASDAQ 100 and market maker hedging
2:50 - Focus of the presentation: options order flow and market maker hedging
3:03 - Doug's two-step trading process: planning and execution
3:40 - Instructions for posting questions during the live stream
4:05 - Greetings to participants
4:20 - Explanation of NDX vs QQQ in trading NASDAQ
5:10 - Agenda for the day
5:16 - Economic data and events for the week
6:12 - Positional analysis for SPX
7:23 - Market behavior around options expirations
7:54 - Detailed SPX analysis and key levels
8:55 - Spot gamma levels on SPX chart
10:04 - Explanation of gamma environment and its effect on market behavior
12:14 - Bookmap analysis for SPX levels
13:10 - Procedure for putting levels on the chart
15:19 - Sources of data for expected moves
17:13 - Calculating index relationships and updating spreadsheets
19:46 - Customizing cloud notes in Bookmap for more precise information
20:57 - Market maker gamma position at the beginning of the day
22:05 - Detailed NASDAQ analysis
24:02 - Explanation of gamma notional and its effect on trading
27:20 - Setup analysis for SPY
30:14 - Hero signal explanation for SPY and its components
31:02 - Bookmap analysis for SPY trading
33:00 - Cumulative volume delta and its impact
34:18 - Flow alerts and their significance
36:12 - Hero signal explanation for NASDAQ
37:05 - Impact of call and put lines on trading signals
40:04 - NASDAQ trading analysis in Bookmap
41:07 - Analysis of individual stocks starting with Apple
42:27 - Analysis of call wall breaches and market maker behavior
45:00 - Analysis of AMD trading
48:20 - Analysis of Amazon trading and call wall resistance
53:06 - Analysis of CrowdStrike trading
55:34 - Analysis of NVIDIA trading
57:28 - Analysis of Tesla trading
59:52 - Dell trading analysis and Hero signal explanation
1:01:26 - GLD trading analysis
1:02:10 - Clarification of Hero signal and market maker hedging behavior
1:04:28 - Explanation of options expiration impact on trading signals
1:06:05 - Closing remarks and reminder about upcoming economic data
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