Known risk is tolerable. People carry it in every job, all day, without their hands shaking.
What escalates a person is standing in front of something they can't describe.
Under pressure the brain fills that in with whatever hurt most recently. That's where size creeps up, where the stop moves, and where the plan you wrote calmly the night before stops being available to you at 9:31.
Disadvantaged twice. Once by the market, which everyone understands. Once by our own biology, which almost nothing in this industry addresses.
Compass is built for the second one.
It shows where the largest positioning sits, and what price actually did at those levels rather than only that they're there. It measures how much room the day has been giving against its own history, so a wide day and a quiet day stop getting sized the same.
Same chart, same account, a person who can read it.
Private beta. https://t.co/OF3Ktnd04r
$QQQ opened on the King at 750. Dipped under, reclaimed it in 3 minutes.
Then the King moved to 755 while price sat at 752... and price walked up to it. 754.49, 56 minutes from the low.
755 grew 71% on the way.
@pdicarlotrader Nicely done with NVDA. 235 is carrying 275M on today's board, and it's the biggest level on every expiry out to October 23rd. Eight in a row, same number. Price is a point above it.
@ddw88523 You're right. 767 wasn't carrying much at the open. It's 26M now and 768 above it is 60M. That whole stretch filled in this morning. Under 765 is where the board is actually currently empty.
QQQ this morning. The King opened at 750 and it's at 755 now.
We didn't build this to tell you what happens next. We built it so there's one fixed number to measure against, and so that being wrong about where you are is something you find out early.
Conviction isn't knowing what the market will do. It's knowing exactly where you're standing when it does something.
Levels get rebuilt while you're watching. Usually there's no way to see it happening. What you do with it is between you and your plan.
@NoRiskNoPremium Agreed on hold of 772 for upside. On the options board 770 through 775 is heavy the whole way across. 770 is at 109M, 772 at 138M, 775 at 143M. 772 is in the middle of it rather than at an edge.
$TSLA recap from this morning.
Opened $3.54 under the 360 King. First thing it did was come back down into yesterday's high around 355... dipped under it twice and got back over it both times. Old resistance, new support.
From there it just walked. 63 minutes from the low to 359.78, and that's presented to the King.
What lined up: 360 was the King from the open and never moved, and it actually grew about 12% on the way. Regime was amplify from the open too.
It's one morning, so take it as an example. But this is what we mean by trading toward the area with the largest exposure (the king).
@Basssem666 Your 761.52 sits between the two heaviest levels on today's board. 760 is the biggest at 77M, 762 behind it at 64M. Above 763 is nearly empty.
@TradeBrigadeCo For reference on the options side, 760 is the biggest level on the board right now at 59M and price is sitting on it. Above 763 is close to empty.
@itsCblast 760 is carrying the most on the options board right now at 59M, and most of that has gone on since the open. Price is sitting right on it, however exposure is growing below.
@Mr_Derivatives There isn't one number on MU's board, there are two. 1100 carries the front expiries, 1150 by 10/16. Spot is under both of them. Same name, different level depending on the date
@EliteOptions2 748 is a couple of steps out but not necessarily out of reach. Getting above 745 is the first thing, 104M and the biggest positive level on the board, with 747 at 63M behind it.
@TigerLineTrades 766 is the heaviest single strike on the board right now, 87M, and 769 is just above where the board flips at 767.63. The biggest level on the whole board is 761, below both, untested.
@CyclesFan 7555 is a couple of steps out. On tomorrow's board 7650 is the first thing under spot, then it thins until 7600, which is the biggest level on the board. 7555 sits beyond both.
@The_RockTrading On tomorrow's board 745 is the largest concentration above spot. It built through today, it wasn't there at the open. 740 is the only thing between here and it.
SPX today, and this one was clean.
7650 carried the most exposure on the board from the open. Price opened near 7700, fifty points away from it, and then walked down all morning. Through yesterday's low at 7666.59, through last week's low at 7662.57, low a few points above 7650. Then it turned and came back.
Here's the part that's easy to miss. While price was down there, the board was building. A second heavy row came in at 7660 around midday and it has not gone anywhere. Price is sitting above it right now at 7670.
So the biggest number on the board at the open is not the biggest number on the board at one o'clock. Concentration gets rebuilt while you are watching it. If you checked once in the morning and never looked again, you spent the afternoon working off a map from three hours ago. Seeing this in real time makes all the difference.
@TradeBrigadeCo Hear you. 762 is the biggest strike on the options board right now, put-heavy, around 56M. It wasn't this morning, 768 was. Whatever it is on the chart, the book rebuilt onto that number today.
@Thomas_james_1 740.50 as the line makes sense. One layer to add, the heaviest positioning is stacked lower, down around 735 on my read. So if bulls lose 740.50, that's the level sitting under it, where the real size is.
@NoRiskNoPremium Hello! On the options board 769 is close to where it changes sign today. The flip is at 769.41. The largest strike sits just under it at 768.
Late night recap of SPY, Monday's session. The King sat on 765 all day and price finished on it.
Price ran from 764 up to 769 and a half and closed at 765.80. Look at the color on this one too. The whole board is purple, put-weighted top to bottom, and 765 was the biggest of it.
A King sitting still tells you the reference is stable. Whether price does anything about it is a separate question, and that one gets answered session by session.