Discover and read the best of Twitter Threads about #gamma
Most recents (24)
NEXT WEEK
The Bear's Take:
•USA #recession is coming
•Bearish daily candlesticks on $SPX and $NDX
• #NDX negative divergences with classic Indis
•Leaders are overextended and some are starting to break
• #JPM collar will stop any #SPX advance at 4320
#SPX #ES_F $SPX $SPY
The Bear's Take:
•USA #recession is coming
•Bearish daily candlesticks on $SPX and $NDX
• #NDX negative divergences with classic Indis
•Leaders are overextended and some are starting to break
• #JPM collar will stop any #SPX advance at 4320
#SPX #ES_F $SPX $SPY
NEXT WEEK
The Bulls' Take
•Breakout of 4200 confirmed
•Momentum is bullish
•Market breadth improved
• $SPX now in official bull market
•Dealers increased their long positions again
• #Gamma is positive
- #CPI will be lower
- #Fed to pause
#ES #SPX $SPY #0dte #options
The Bulls' Take
•Breakout of 4200 confirmed
•Momentum is bullish
•Market breadth improved
• $SPX now in official bull market
•Dealers increased their long positions again
• #Gamma is positive
- #CPI will be lower
- #Fed to pause
#ES #SPX $SPY #0dte #options
NEXT WEEK
Our Take
• Markets are at strong resistance levels, we are expecting a pullback
• Volatile week ahead
• A likely visit to 4220
• Expecting 4320 to stop any $SPX advance
•Expecting #smallcaps to outperform
• #CPI maybe higher, but downtrending
#SPX $SPY $ES_F
Our Take
• Markets are at strong resistance levels, we are expecting a pullback
• Volatile week ahead
• A likely visit to 4220
• Expecting 4320 to stop any $SPX advance
•Expecting #smallcaps to outperform
• #CPI maybe higher, but downtrending
#SPX $SPY $ES_F
NEXT WEEK
The Bear's Take:
•Germany is in recession
• #USA #recession is coming
•Spinning top on Nasdaq
• #NDX negative divergences with classic indis
•Leading stocks are overextended
•Breadth Negative divergences
•4300 is strong resistance
#SPX #ES_F $SPX $SPY #0dte
The Bear's Take:
•Germany is in recession
• #USA #recession is coming
•Spinning top on Nasdaq
• #NDX negative divergences with classic indis
•Leading stocks are overextended
•Breadth Negative divergences
•4300 is strong resistance
#SPX #ES_F $SPX $SPY #0dte
NEXT WEEK
The Bulls's Take
•Daily, weekly and monthly bullish candlestick with high volume
•Big bullish action on Friday, with Breadth Thrust
• $SPX broke important levels on high volume
•Bullish momentum
•Dealers increased their long positions
•Positive #Gamma
#SPX $SPX
The Bulls's Take
•Daily, weekly and monthly bullish candlestick with high volume
•Big bullish action on Friday, with Breadth Thrust
• $SPX broke important levels on high volume
•Bullish momentum
•Dealers increased their long positions
•Positive #Gamma
#SPX $SPX
NEXT WEEK
Our Take
•Momentum is bullish, but indices are near resistance
•A likely visit to 4220 in the next two weeks is expected
•Hard to see a solid break above 4300 this week
•Expecting good performance from the #smallcaps this week
#SPX $SPY $ES_F $SPY #trading
Our Take
•Momentum is bullish, but indices are near resistance
•A likely visit to 4220 in the next two weeks is expected
•Hard to see a solid break above 4300 this week
•Expecting good performance from the #smallcaps this week
#SPX $SPY $ES_F $SPY #trading
#Nuked Themsleves: “They will blame #Russia as always”: a sociologist on the growth of the background #radiation in #Khmelnytsky (160 nS) | May 15
-the Russian army #destroyed the #ammunition depot -shells with #DepletedUranium were stored at the facility.
theinteldrop.org/2023/05/15/nuk…
-the Russian army #destroyed the #ammunition depot -shells with #DepletedUranium were stored at the facility.
theinteldrop.org/2023/05/15/nuk…
RADIATION SITUATION TODAY
#Finland's background #radiation normally varies between 0.05 and 0.30 #microsieverts per hour (µSv/h)
CONTACT PERSON:
Tuomas Peltonen / Inspector general
tel. +358 975 988 508
stuk.fi/aiheet/sateily…
- #Loviisa NOW: 0.210 #microSieverts
#Finland's background #radiation normally varies between 0.05 and 0.30 #microsieverts per hour (µSv/h)
CONTACT PERSON:
Tuomas Peltonen / Inspector general
tel. +358 975 988 508
stuk.fi/aiheet/sateily…
- #Loviisa NOW: 0.210 #microSieverts
cc: @ ArthurM40330824
#Gamma radiation in #Khmelnytsky could actually indicate that a #DirtyBomb was stored in the warehouses.
Gamma radiation is characteristic of #enriched #uranium. Is it possible that were making "dirty bombs" at the Khmelnitsky #NPP
#Gamma radiation in #Khmelnytsky could actually indicate that a #DirtyBomb was stored in the warehouses.
Gamma radiation is characteristic of #enriched #uranium. Is it possible that were making "dirty bombs" at the Khmelnitsky #NPP
NEXT WEEK
The Bear's take:
•Monthly close on lighter volume
•Negative divergences from classic indicators
•Tough talk from FEDs
•Inflation is sticky, rates ↑
• #Recession is here
• #GDP ↓
•Leading indicators ↓
• #AAPL earnings ↓
•Big #Gamma at 4000
$SPX #SPX
The Bear's take:
•Monthly close on lighter volume
•Negative divergences from classic indicators
•Tough talk from FEDs
•Inflation is sticky, rates ↑
• #Recession is here
• #GDP ↓
•Leading indicators ↓
• #AAPL earnings ↓
•Big #Gamma at 4000
$SPX #SPX
🌐 Traders! We're thrilled to announce that Gamma Swap is now officially LIVE on #DeriProtocol @arbitrum !
Get ready for a game-changing experience in the world of #DeFi. 🎉🎉🧵💙🧡
👉deri.io/#/trade/gamma/
#GammaSwap $BTC #hedge #volatility #Options #Gamma $ETH #Arbitrum
Get ready for a game-changing experience in the world of #DeFi. 🎉🎉🧵💙🧡
👉deri.io/#/trade/gamma/
#GammaSwap $BTC #hedge #volatility #Options #Gamma $ETH #Arbitrum
❓What’s Gamma Swap?
Gamma Swap is a financial instrument where buyers (who take the long side) can obtain Gamma exposure of an underlying asset, while sellers (who take the short side) can earn funding fees for providing that exposure. Longing Gamma Swap has the following PnL👇
Gamma Swap is a financial instrument where buyers (who take the long side) can obtain Gamma exposure of an underlying asset, while sellers (who take the short side) can earn funding fees for providing that exposure. Longing Gamma Swap has the following PnL👇
Dive in: docs.deri.io/library/academ…
Somehow our pinned tweet disappeared, so here it is again
This is a thread with information we think valuable:
1) Our Compact Guide to Understanding #Gamma
2) $SPX $Gamma structure Cheat Sheet
3) Our Compact Guide to Options Strategies
4) 2023 Options Calendar... and more
🧵
This is a thread with information we think valuable:
1) Our Compact Guide to Understanding #Gamma
2) $SPX $Gamma structure Cheat Sheet
3) Our Compact Guide to Options Strategies
4) 2023 Options Calendar... and more
🧵
Here is my evening rundown of $SPX and $SPY Dealer and Dark Pool data to prepare us for #optionstrading & #futurestrading tomorrow using data from @WizOfOps Vol.land and @Tradytics. Show thread to see it all! 🧵👇
Lets start with #Vanna on $SPX & $SPY. $SPX cumulative Vanna picture still neutral in this range with positive vanna favoring downside and negative vanna hurting moves higher. $SPY is similar but with more positive vanna favoring downside should $VIX/IV continue to rise.
Aggregate #Charm up next on $SPX & $SPY. $SPX is now much more inline with $SPY with positive charm exceeding negative charm. This means dealer selling will take place as time passes on these contracts.
Another condensed post tonight combining what I believe to be the most useful market data to help prepare for tomorrow. Show thread to see it all! 🧵👇
Lets start with #Vanna on $SPX & $SPY. $SPX cumulative Vanna picture still neutral in this range with positive vanna favoring downside and negative vanna hindering moves higher. $SPY is similar but with more positive vanna favoring downside should $VIX/IV rise.
Aggregate #Charm up next on $SPX & $SPY. $SPX charm is neutral as well, but slightly more negative which is slightly bullish. However, $SPY is still positive which favors downside. Combining the two has dealers doing slightly more selling as time decays.
Here is my evening summary of dealer positioning $SPX, $SPY & $QQQ. The data is provided by Vol.land, created by @WizOfOps, and will help us identify key areas tomorrow to inform our #optionstrading and #futurestrading. Show thread to see it all! 🧵👇
Lets start with #Vanna on $SPX & $SPY. $SPX cumulative Vanna picture is neutral in this range with positive vanna favoring downside and negative vanna hurting moves higher. $SPY is similar but with much more positive vanna favoring downside should $VIX/IV continue to rise.
Aggregate #Charm up next on $SPX & $SPY. $SPX charm is pretty neutral as well, but slightly more negative which is slightly bullish. However, $SPY is very positive which favors downside.
🔥 The newest hype in the #crypto space: #ordinal #NFTs
#Minted directly on the #Bitcoin #blockchain! 🎨
💰 Learn how this multi-billion dollar #token is offering greater security, transparency, and use cases🧵👇
Also, it's best to sub to our TG
t.me/matrixportupda…
#Minted directly on the #Bitcoin #blockchain! 🎨
💰 Learn how this multi-billion dollar #token is offering greater security, transparency, and use cases🧵👇
Also, it's best to sub to our TG
t.me/matrixportupda…
1/10 🚀 #OrdinalNFTs are the latest hype in the #crypto space! Unlike classic #NFTs which rely on #token standards like #ERC721, ordinal NFTs are #minted directly on the #Bitcoin #blockchain. This offers greater permanence and immutability on the distributed #ledger.
2/10 🎨 With #ordinalNFTs, users can inscribe digital art, profile pictures, videos, audios, and images directly onto #satoshis (the smallest unit of #Bitcoin). This means no need for additional #sidechains, L2 solutions, or #tokens! #cryptoart
$SPX
Our weekly "NEXT WEEK, The Bear's take, The Bull's take, Our take" is here
For more info read our newsletter (It will be out tomorrow)
Subscribe for Free
pointblanktrading.substack.com
#SPX $SPY $ES $SPX #ES_F $GAMMA #GAMMA #GEX $QQQ #QQQ
$DIA $IWM #trading #options #Futures
Our weekly "NEXT WEEK, The Bear's take, The Bull's take, Our take" is here
For more info read our newsletter (It will be out tomorrow)
Subscribe for Free
pointblanktrading.substack.com
#SPX $SPY $ES $SPX #ES_F $GAMMA #GAMMA #GEX $QQQ #QQQ
$DIA $IWM #trading #options #Futures
Here is my morning summary of $SPY using data driven insights @Tradytics. The data provided will help us formulate a plan for the day to inform our #optionstrading and #futurestrading. Show thread to see it all! 👇
The $SPY #Gamma based @Tradytics ghost zones are shown in the screen shot below. They range from 397 - 400 currently.
The $SPY 3-day and 5-day delta correlations all favor the upside based on historical correlations between delta structure & price. However, take note of the lower volatility (no ideal for intraday traders).
Dealer delta momentum still more negative (-0.183).
Dealer delta momentum still more negative (-0.183).
Here is my morning summary of dealer positioning for both $SPX and $SPY. The data is provided by Vol.land and will help us formulate a plan for the day to inform our #optionstrading and #futurestrading. Show thread to see it all! 👇
Lets start with $SPX Vanna since it's a major driver. The Vanna repellent @ 4000 is present but light. Will become light accelerant if we get far enough above it. We still have a large magnet @ 4100 with repellents above that.
$SPX #Gamma is showing slight positive gamma support @ 3975 with gamma accelerant @ 4000 that will assist a move through it. Large resistance @ 4100 inline with the Vanna magnet.
Here is my morning summary of dealer positioning for both $SPX and $SPY. The data is provided by Vol.land and will help us formulate a plan for the day to inform our #optionstrading and #futurestrading. Show thread to see it all! 👇
Lets start with $SPX Vanna since it's a major driver. The Vanna repellent @ 4000 is no longer showing, because we basically closed on top so it has no impact. If we open too far below, negative vanna could repel again. We still have a large magnet @ 4100 with repellents above.
$SPX #Gamma is showing slight positive gamma support @ 3975 (as long as we open above it) with gamma accelerant @ 4000 that will assist a move through it. Large resistance @ 4100 inline with the Vanna magnet.
$SPX
Our weekly "NEXT WEEK, The Bear's take, The Bull's take, Our take" is here
For more info read our newsletter (It will be out tomorrow)
Subscribe for Free
pointblanktrading.substack.com
#SPX $SPY $ES $SPX #ES_F $GAMMA #GAMMA #GEX $QQQ #QQQ
$DIA $IWM #trading #options #Futures
Our weekly "NEXT WEEK, The Bear's take, The Bull's take, Our take" is here
For more info read our newsletter (It will be out tomorrow)
Subscribe for Free
pointblanktrading.substack.com
#SPX $SPY $ES $SPX #ES_F $GAMMA #GAMMA #GEX $QQQ #QQQ
$DIA $IWM #trading #options #Futures
The Bear's take:
•Recession is just around the corner
• Rates and valuations are high
• Geopolitical tensions
• Friday, stocks rise on low volume
• Earnings will be low
•China Covid shutdown hurt earnings
• Market is overbougth
• #VVIX is rising
#SPX #ES_F $SPX #options
•Recession is just around the corner
• Rates and valuations are high
• Geopolitical tensions
• Friday, stocks rise on low volume
• Earnings will be low
•China Covid shutdown hurt earnings
• Market is overbougth
• #VVIX is rising
#SPX #ES_F $SPX #options
NEXT WEEK
The Bull's take
• Inflation/Commodities/Oil/$ are ↓
• $DJI chart is very bullish. $DJT and $IWM also look good
•Up week on increasing volume
• $VIX and #DXY in strong donwtrend
•Breadth indicators are strong
•Positive divergence from CCI, RSI, ROC, Stochastics
The Bull's take
• Inflation/Commodities/Oil/$ are ↓
• $DJI chart is very bullish. $DJT and $IWM also look good
•Up week on increasing volume
• $VIX and #DXY in strong donwtrend
•Breadth indicators are strong
•Positive divergence from CCI, RSI, ROC, Stochastics
If you haven't read it
From our newsletter:
$DJI
"Last Friday it managed - just like the $DJT and $IWM - to make a solid upward breakout... did so on high volume... close above the 20, 50, 100 and 200DMA.
All indicates that this will most likely be the way forward for the #SPX"
From our newsletter:
$DJI
"Last Friday it managed - just like the $DJT and $IWM - to make a solid upward breakout... did so on high volume... close above the 20, 50, 100 and 200DMA.
All indicates that this will most likely be the way forward for the #SPX"
" #DJT made an excellent breakout and closed above 20 and 100DMA. It closed right at its 50DMA. Bullish action from a leading indicator. $DJT will have to surpass the conjunction of 50DMA and 200DMA next week, in order to validate more upward moves"
It did that yesterday
#ES_F
It did that yesterday
#ES_F
$QQQ
"A follow up rally is expected to allow it to break out of the Noise Box and break above at least the 20DMA.
On Monday it broke above the Noise Box, yesterday above the 20DMA, today above the 50DMA"
#QQQ #NDX #TradingSignals #bearmarket #SPX #ES_F #trading #SPX
"A follow up rally is expected to allow it to break out of the Noise Box and break above at least the 20DMA.
On Monday it broke above the Noise Box, yesterday above the 20DMA, today above the 50DMA"
#QQQ #NDX #TradingSignals #bearmarket #SPX #ES_F #trading #SPX
$SPX
Our weekly "NEXT WEEK, The Bear's take, The Bull's take, Our take" is here
For more info read our newsletter, it will be out later today
Subscribe for Free
pointblanktrading.substack.com
#SPX $SPY $ES $SPX #ES_F $GAMMA $GEX #GAMMA #GEX $QQQ #QQQ
$DIA $IWM #trading #options
Our weekly "NEXT WEEK, The Bear's take, The Bull's take, Our take" is here
For more info read our newsletter, it will be out later today
Subscribe for Free
pointblanktrading.substack.com
#SPX $SPY $ES $SPX #ES_F $GAMMA $GEX #GAMMA #GEX $QQQ #QQQ
$DIA $IWM #trading #options
NEXT WEEK
The Bear's take:
•Recession is around the corner
• Rates ↑
• Geopolitical tensions
•CPI is coming
• Bearish monthly engulfing candle on the main indexes
• Charts of market leaders are broken
•Bearish flag on the index charts
$ES_F $SPX $SPY #SPX #trading
The Bear's take:
•Recession is around the corner
• Rates ↑
• Geopolitical tensions
•CPI is coming
• Bearish monthly engulfing candle on the main indexes
• Charts of market leaders are broken
•Bearish flag on the index charts
$ES_F $SPX $SPY #SPX #trading
NEXT WEEK
The Bull's take
•Inflation/Commodities/Oil/ $DXY are ↓
• $DJI and $DJT broke above consolidation
•Higher volume on up days
• $VIX in strong donwtrend
• $VVIX broke below support, is at 2017 levels
•Positive divergence from classic indicators
•Breadth is +
#SPX
The Bull's take
•Inflation/Commodities/Oil/ $DXY are ↓
• $DJI and $DJT broke above consolidation
•Higher volume on up days
• $VIX in strong donwtrend
• $VVIX broke below support, is at 2017 levels
•Positive divergence from classic indicators
•Breadth is +
#SPX
$TSLA is the talk of anyone #trading #options these days, so I figured it would be good to go through the data to see what the coming days may bring.
First off, there have been several news events related to $TSLA, including Chinese production slow downs, @elonmusk promising not to sell shares, and new gigafactory announcements. All these have made their splash and will continue to do so.
Lets start by looking at flow via @Tradytics. We see a major surge in put buying. However, compared to recent historical premiums, it wasn't the largest. Algoflow actually has this marked as neutral. The EoD spike can be telling though...
$SPX
Our weekly "NEXT WEEK, The Bear's take, The Bull's take, Our take" is here
For more info read our newsletter
Subscribe for Free
pointblanktrading.substack.com
#SPX $SPY $ES $SPX #ES_F $GAMMA $GEX #GAMMA #GEX $QQQ #QQQ
$DIA $IWM #trading
Our weekly "NEXT WEEK, The Bear's take, The Bull's take, Our take" is here
For more info read our newsletter
Subscribe for Free
pointblanktrading.substack.com
#SPX $SPY $ES $SPX #ES_F $GAMMA $GEX #GAMMA #GEX $QQQ #QQQ
$DIA $IWM #trading
TODAY IN THE MARKETS
$VIX
Down day for the #SPX, and the #VIX closed down -6.26% and below 20DMA
Yesterday: large bearish engulfing candle
Today: Continuation
Despite the lack of sync this looks like a bullish development for $SPX
#ES_F #trading $SPY $ES #options #VIX $VVIX
$VIX
Down day for the #SPX, and the #VIX closed down -6.26% and below 20DMA
Yesterday: large bearish engulfing candle
Today: Continuation
Despite the lack of sync this looks like a bullish development for $SPX
#ES_F #trading $SPY $ES #options #VIX $VVIX
$XLF
#XLF was rejected at 20DMA
The sector remains above the 200DMA, and near support
For the October #SPX rally to continue it's necessary for #XLF to hold above $34.40
#trading #banks #options #ES_F $SPX $SPY $ES #DayTrading #Futures #inflation #ratehikes #Fed #Financial
#XLF was rejected at 20DMA
The sector remains above the 200DMA, and near support
For the October #SPX rally to continue it's necessary for #XLF to hold above $34.40
#trading #banks #options #ES_F $SPX $SPY $ES #DayTrading #Futures #inflation #ratehikes #Fed #Financial
TODAY IN THE MARKETS
$SPX
A low #CPI triggered a 114-point jump that took it above the dominant trendline. At the open, sell orders above that level initiated a pullback that took it 126 points down to the 20DMA
Not what we would call a 1-day reversal, more upside to come
#SPX
$SPX
A low #CPI triggered a 114-point jump that took it above the dominant trendline. At the open, sell orders above that level initiated a pullback that took it 126 points down to the 20DMA
Not what we would call a 1-day reversal, more upside to come
#SPX
Our weekly NEXT WEEK, The Bear's take, The Bull's take, Our take is here
For more info read our newsletter coming out later today
Subscribe for Free
pointblanktrading.substack.com
#SPX $SPY $ES $SPX #ES_F $GAMMA $GEX #GAMMA #GEX $QQQ #QQQ
$DIA $IWM #trading
For more info read our newsletter coming out later today
Subscribe for Free
pointblanktrading.substack.com
#SPX $SPY $ES $SPX #ES_F $GAMMA $GEX #GAMMA #GEX $QQQ #QQQ
$DIA $IWM #trading
NEXT WEEK
The Bear's take:
• Rates, inflation, dollar, employment ↑
• Geopolitical tensions
• $VIX above TL and 20DMA
• All indices broke below 20DMA
• Negative #Gamma regime
• Dealers are now net short
•Quadruple witching: large negative stack at 3900
$ES_F $SPX $SPY
The Bear's take:
• Rates, inflation, dollar, employment ↑
• Geopolitical tensions
• $VIX above TL and 20DMA
• All indices broke below 20DMA
• Negative #Gamma regime
• Dealers are now net short
•Quadruple witching: large negative stack at 3900
$ES_F $SPX $SPY
Our weekly NEXT WEEK, The Bear's take, The Bull's take, Our take is here
For more info read our newsletter coming out tonight
Subscribe for Free
pointblanktrading.substack.com
#SPX $SPY $ES $SPX #ES_F $GAMMA $GEX #GAMMA #GEX $QQQ #QQQ
$DIA $IWM #trading
For more info read our newsletter coming out tonight
Subscribe for Free
pointblanktrading.substack.com
#SPX $SPY $ES $SPX #ES_F $GAMMA $GEX #GAMMA #GEX $QQQ #QQQ
$DIA $IWM #trading
NEXT WEEK
The Bear's take:
• Rates, inflation, dollar, employment ↑
• Geopolitical tensions
• $VIX at support, #SPX at resistance
• $VVIX is extremely oversold
• #Nasdaq composite rejected at 100DMA
• Dealers are now net short
• $DJT is lagging $DJI
$ES_F $SPX $SPY
The Bear's take:
• Rates, inflation, dollar, employment ↑
• Geopolitical tensions
• $VIX at support, #SPX at resistance
• $VVIX is extremely oversold
• #Nasdaq composite rejected at 100DMA
• Dealers are now net short
• $DJT is lagging $DJI
$ES_F $SPX $SPY
NEXT WEEK
The Bull's take
•Commodities/Oil/DXY are ↓
• Excepting $NDX major indices are above 200DMA, all above 20, 50 and 100DMA
•Breadth indicators are bullish
• Seasonality favors move↑
• $FAANG bullish monthly candle
• $DJI to continue leadership
• $Gamma is +
#SPX
The Bull's take
•Commodities/Oil/DXY are ↓
• Excepting $NDX major indices are above 200DMA, all above 20, 50 and 100DMA
•Breadth indicators are bullish
• Seasonality favors move↑
• $FAANG bullish monthly candle
• $DJI to continue leadership
• $Gamma is +
#SPX
Our weekly NEXT WEEK, The Bear's take, The Bull's take, Our take is here
For more info read our newsletter coming out tomorrow morning before the open
Subscribe for Free
pointblanktrading.substack.com
#SPX $SPY $ES $SPX #ES_F $GAMMA $GEX #GAMMA #GEX $QQQ #QQQ
$DIA $IWM #trading
For more info read our newsletter coming out tomorrow morning before the open
Subscribe for Free
pointblanktrading.substack.com
#SPX $SPY $ES $SPX #ES_F $GAMMA $GEX #GAMMA #GEX $QQQ #QQQ
$DIA $IWM #trading
NEXT WEEK
The Bear's take:
•High rates, inflation, dollar
•Powell, and 8 more FEDs are coming
•Geopolitical tensions
• $VIX, $VVIX extremely oversold
• $FAANG struggling with 50DMA
• #Nasdaq rejected at 100DMA
• $RUT under 200DMA
• Short sellers at $SPX 200DMA
$ES_F
The Bear's take:
•High rates, inflation, dollar
•Powell, and 8 more FEDs are coming
•Geopolitical tensions
• $VIX, $VVIX extremely oversold
• $FAANG struggling with 50DMA
• #Nasdaq rejected at 100DMA
• $RUT under 200DMA
• Short sellers at $SPX 200DMA
$ES_F
