The two positions, graded

Two positions over an hour and forty minutes, both graded AAA with hindsight, both taken at an edge of the session. This lesson breaks them down with the real prices, the grade of each criterion, and the quantified result in R and in dollars. The last paragraph says why that figure is not a promise, and how to read it honestly.

Position 1 · Long S3 on the stacked floor, 3:33 pm

The four elements of the floor are in place at 3:29 pm: the put wall and the strongest negative level near 7,631; the positive zone from 7,623 to 7,628 with the + ▼▼ bar at 7,626; the sale of 978 0DTE puts for $1.51M of premium (premium per contract $1,544, about 15.4 points, so a strike close to the current price: the client is betting that the market will not drop below that level by the close, and the dealers, long the puts, buy ES to hedge); and the buying Deep Trades bubbles near 7,633.