## Today's flow

For Nov 6, 2026, the published board is for this session, captured Nov 6, 2026, 16:14 ET. [Read the current flow board](https://squawkflow.com/options-flow).

- SPY Nov 6 P: est. $624.4M on 4,051,499 contracts, captured Nov 6, 2026, 16:14 ET.
- QQQ Nov 6 P: est. $412.2M on 2,851,818 contracts, captured Nov 6, 2026, 16:14 ET.
- SPY Nov 20 P: est. $403.8M on 365,682 contracts, captured Nov 6, 2026, 16:14 ET.

Largest estimated-premium cells from delayed option chain snapshots, published at least 15 minutes after capture. Session totals, not individual trades.

## Archived session

# Unusual options activity on Nov 6, 2026

This page is the archive of the Nov 6, 2026 session. The current board is at https://squawkflow.com/options-flow.

As of Nov 6, 2026, 16:14 ET, SquawkFlow had published 139 snapshots of unusual options activity for Nov 6, 2026, 139 from delayed options chain data; the session is not complete and more may follow. Chain figures are session totals published at least 15 minutes after capture; none is an individual trade.
On the page at https://squawkflow.com/options-flow/2026-11-06: all 139 snapshots grouped by kind, each with its own permalink; the boards by ticker, expiry and call or put; and a link to the Nov 5, 2026 session. The next session's snapshots post no earlier than 9:45 ET and are linked from this page.

By kind: Put/call by expiry 101, Volume vs open interest 13, Near vs far dates 12, Same-day share 11, Premium concentration 2.

## Snapshots, most notable first

| As of (ET) | Ticker | Kind | Snapshot | Permalink |
|---|---|---|---|---|
| Nov 6, 2026, 11:16 ET | META | Put/call by expiry | META calls outnumbered puts 191.3 to 1 expiring Jan 15, 2027, vs a 1.4 median | https://squawkflow.com/options-flow/2026-11-06/meta-calls-jan-15-2027-put-call-skew |
| Nov 6, 2026, 10:56 ET | NVDA | Put/call by expiry | NVDA calls outnumbered puts 20.3 to 1 expiring Feb 19, 2027, vs a 1.2 median | https://squawkflow.com/options-flow/2026-11-06/nvda-calls-feb-19-2027-put-call-skew |
| Nov 6, 2026, 11:16 ET | IWM | Put/call by expiry | IWM puts expiring Nov 27 (3 weeks out) traded 19.3x the calls, vs a 1.6x median | https://squawkflow.com/options-flow/2026-11-06/iwm-puts-nov-27-2026-put-call-skew |
| Nov 6, 2026, 09:45 ET | AMD | Put/call by expiry | AMD calls outnumbered puts 10.1 to 1 expiring Nov 13 (1 week out), vs a 1.1 median | https://squawkflow.com/options-flow/2026-11-06/amd-calls-nov-13-2026-put-call-skew |
| Nov 6, 2026, 09:33 ET | GOOGL | Put/call by expiry | GOOGL calls outnumbered puts 10.9 to 1 expiring Nov 6 (same day), vs a 2.1 median | https://squawkflow.com/options-flow/2026-11-06/googl-calls-nov-6-2026-put-call-skew |
| Nov 6, 2026, 10:15 ET | AMD | Put/call by expiry | AMD puts expiring Jan 21, 2028 traded 21.1x the calls, vs a 1.4x median | https://squawkflow.com/options-flow/2026-11-06/amd-puts-jan-21-2028-put-call-skew |
| Nov 6, 2026, 13:20 ET | AMD | Put/call by expiry | AMD puts expiring Dec 17, 2027 traded 13.4x the calls, vs a 1.4x median | https://squawkflow.com/options-flow/2026-11-06/amd-puts-dec-17-2027-put-call-skew |
| Nov 6, 2026, 09:46 ET | META | Put/call by expiry | META calls outnumbered puts 11.7 to 1 expiring Nov 13 (1 week out), vs a 1.3 median | https://squawkflow.com/options-flow/2026-11-06/meta-calls-nov-13-2026-put-call-skew |
| Nov 6, 2026, 10:31 ET | IWM | Put/call by expiry | IWM puts expiring Jun 17, 2027 traded 9.3x the calls, vs a 1.3x median | https://squawkflow.com/options-flow/2026-11-06/iwm-puts-jun-17-2027-put-call-skew |
| Nov 6, 2026, 11:54 ET | SOFI | Put/call by expiry | SOFI calls outnumbered puts 8.4 to 1 expiring Jan 15, 2027, vs a 4.7 median | https://squawkflow.com/options-flow/2026-11-06/sofi-calls-jan-15-2027-put-call-skew |
| Nov 6, 2026, 10:09 ET | SOFI | Put/call by expiry | SOFI calls outnumbered puts 9.1 to 1 expiring Dec 18, vs a 4.7 median | https://squawkflow.com/options-flow/2026-11-06/sofi-calls-dec-18-2026-put-call-skew |
| Nov 6, 2026, 10:36 ET | BAC | Put/call by expiry | BAC calls outnumbered puts 9.4 to 1 expiring Nov 13 (1 week out), vs a 2.1 median | https://squawkflow.com/options-flow/2026-11-06/bac-calls-nov-13-2026-put-call-skew |
| Nov 6, 2026, 15:27 ET | SPY | Put/call by expiry | SPY puts expiring Nov 20 (2 weeks out) traded 6.1x the calls, vs a 1.4x median | https://squawkflow.com/options-flow/2026-11-06/spy-puts-nov-20-2026-put-call-skew |
| Nov 6, 2026, 09:35 ET | IWM | Put/call by expiry | IWM puts expiring Nov 20 (2 weeks out) traded 7.9x the calls, vs a 1.6x median | https://squawkflow.com/options-flow/2026-11-06/iwm-puts-nov-20-2026-put-call-skew |
| Nov 6, 2026, 09:56 ET | AAPL | Volume vs open interest | AAPL 342.5 calls expiring Nov 6 (same day) traded 6.5x their open interest | https://squawkflow.com/options-flow/2026-11-06/aapl-342p5-calls-nov-6-2026-volume-vs-open-interest |
| Nov 6, 2026, 09:40 ET | IWM | Put/call by expiry | IWM puts expiring Dec 18 traded 8.5x the calls, vs a 2.3x median | https://squawkflow.com/options-flow/2026-11-06/iwm-puts-dec-18-2026-put-call-skew |
| Nov 6, 2026, 11:00 ET | AMD | Put/call by expiry | AMD puts expiring Sep 17, 2027 traded 8.2x the calls, vs a 1.4x median | https://squawkflow.com/options-flow/2026-11-06/amd-puts-sep-17-2027-put-call-skew |
| Nov 6, 2026, 10:05 ET | NFLX | Put/call by expiry | NFLX calls outnumbered puts 8.0 to 1 expiring Dec 18, vs a 1.3 median | https://squawkflow.com/options-flow/2026-11-06/nflx-calls-dec-18-2026-put-call-skew |
| Nov 6, 2026, 09:36 ET | NVDA | Put/call by expiry | NVDA calls outnumbered puts 7.9 to 1 expiring Mar 19, 2027, vs a 1.2 median | https://squawkflow.com/options-flow/2026-11-06/nvda-calls-mar-19-2027-put-call-skew |
| Nov 6, 2026, 10:44 ET | NFLX | Put/call by expiry | NFLX calls outnumbered puts 7.7 to 1 expiring Jan 15, 2027, vs a 1.3 median | https://squawkflow.com/options-flow/2026-11-06/nflx-calls-jan-15-2027-put-call-skew |
| Nov 6, 2026, 09:37 ET | SPY | Put/call by expiry | SPY puts expiring Nov 27 (3 weeks out) traded 7.6x the calls, vs a 1.4x median | https://squawkflow.com/options-flow/2026-11-06/spy-puts-nov-27-2026-put-call-skew |
| Nov 6, 2026, 09:36 ET | META | Put/call by expiry | META calls outnumbered puts 6.4 to 1 expiring Nov 6 (same day), vs a 1.2 median | https://squawkflow.com/options-flow/2026-11-06/meta-calls-nov-6-2026-put-call-skew |
| Nov 6, 2026, 09:36 ET | TSLA | Put/call by expiry | TSLA calls outnumbered puts 6.8 to 1 expiring Nov 13 (1 week out), vs a 1.5 median | https://squawkflow.com/options-flow/2026-11-06/tsla-calls-nov-13-2026-put-call-skew |
| Nov 6, 2026, 13:10 ET | AMD | Put/call by expiry | AMD puts expiring Jan 19, 2029 traded 6.2x the calls, vs a 1.4x median | https://squawkflow.com/options-flow/2026-11-06/amd-puts-jan-19-2029-put-call-skew |
| Nov 6, 2026, 11:43 ET | GOOGL | Put/call by expiry | GOOGL calls outnumbered puts 7.2 to 1 expiring Dec 17, 2027, vs a 1.1 median | https://squawkflow.com/options-flow/2026-11-06/googl-calls-dec-17-2027-put-call-skew |
| Nov 6, 2026, 09:41 ET | NVDA | Put/call by expiry | NVDA calls outnumbered puts 6.6 to 1 expiring Nov 18 (2 weeks out), vs a 1.7 median | https://squawkflow.com/options-flow/2026-11-06/nvda-calls-nov-18-2026-put-call-skew |
| Nov 6, 2026, 09:56 ET | IWM | Volume vs open interest | IWM 272.5 calls expiring Nov 6 (same day) traded 5.9x their open interest | https://squawkflow.com/options-flow/2026-11-06/iwm-272p5-calls-nov-6-2026-volume-vs-open-interest |
| Nov 6, 2026, 09:51 ET | NVDA | Put/call by expiry | NVDA calls outnumbered puts 4.7 to 1 expiring Nov 13 (1 week out), vs a 1.7 median | https://squawkflow.com/options-flow/2026-11-06/nvda-calls-nov-13-2026-put-call-skew |
| Nov 6, 2026, 09:47 ET | NVDA | Volume vs open interest | NVDA 207.5 calls expiring Nov 13 (1 week out) traded 6.9x their open interest | https://squawkflow.com/options-flow/2026-11-06/nvda-207p5-calls-nov-13-2026-volume-vs-open-interest |
| Nov 6, 2026, 12:29 ET | QQQ | Put/call by expiry | QQQ puts expiring Mar 19, 2027 traded 5.0x the calls, vs a 2.0x median | https://squawkflow.com/options-flow/2026-11-06/qqq-puts-mar-19-2027-put-call-skew |
| Nov 6, 2026, 09:53 ET | GOOGL | Put/call by expiry | GOOGL calls outnumbered puts 6.2 to 1 expiring Jan 15, 2027, vs a 2.2 median | https://squawkflow.com/options-flow/2026-11-06/googl-calls-jan-15-2027-put-call-skew |
| Nov 6, 2026, 10:21 ET | BAC | Put/call by expiry | BAC calls outnumbered puts 6.1 to 1 expiring Jan 15, 2027, vs a 1.2 median | https://squawkflow.com/options-flow/2026-11-06/bac-calls-jan-15-2027-put-call-skew |
| Nov 6, 2026, 09:55 ET | AMD | Put/call by expiry | AMD puts expiring Jun 17, 2027 traded 6.0x the calls, vs a 1.4x median | https://squawkflow.com/options-flow/2026-11-06/amd-puts-jun-17-2027-put-call-skew |
| Nov 6, 2026, 10:11 ET | META | Put/call by expiry | META calls outnumbered puts 5.8 to 1 expiring Dec 18, vs a 1.4 median | https://squawkflow.com/options-flow/2026-11-06/meta-calls-dec-18-2026-put-call-skew |
| Nov 6, 2026, 09:53 ET | PLTR | Volume vs open interest | PLTR 167.5 calls expiring Nov 13 (1 week out) traded 5.3x their open interest | https://squawkflow.com/options-flow/2026-11-06/pltr-167p5-calls-nov-13-2026-volume-vs-open-interest |
| Nov 6, 2026, 09:58 ET | GOOGL | Put/call by expiry | GOOGL calls outnumbered puts 5.7 to 1 expiring Nov 11, vs a 2.4 median | https://squawkflow.com/options-flow/2026-11-06/googl-calls-nov-11-2026-put-call-skew |
| Nov 6, 2026, 09:32 ET | NVDA | Put/call by expiry | NVDA calls outnumbered puts 5.2 to 1 expiring Jan 15, 2027, vs a 1.6 median | https://squawkflow.com/options-flow/2026-11-06/nvda-calls-jan-15-2027-put-call-skew |
| Nov 6, 2026, 09:50 ET | AAPL | Put/call by expiry | AAPL puts expiring Dec 18 traded 4.6x the calls, vs a 1.0x median | https://squawkflow.com/options-flow/2026-11-06/aapl-puts-dec-18-2026-put-call-skew |
| Nov 6, 2026, 10:06 ET | NVDA | Put/call by expiry | NVDA calls outnumbered puts 4.8 to 1 expiring Nov 16 (1 week out), vs a 1.7 median | https://squawkflow.com/options-flow/2026-11-06/nvda-calls-nov-16-2026-put-call-skew |
| Nov 6, 2026, 09:50 ET | NFLX | Put/call by expiry | NFLX calls outnumbered puts 5.4 to 1 expiring Nov 20 (2 weeks out), vs a 2.0 median | https://squawkflow.com/options-flow/2026-11-06/nflx-calls-nov-20-2026-put-call-skew |
| Nov 6, 2026, 14:58 ET | MSFT | Put/call by expiry | MSFT calls outnumbered puts 4.7 to 1 expiring Nov 27 (3 weeks out), vs a 1.8 median | https://squawkflow.com/options-flow/2026-11-06/msft-calls-nov-27-2026-put-call-skew |
| Nov 6, 2026, 11:16 ET | META | Near vs far dates | META put/call volume ratio held at 0.38 within 3 weeks, against 0.01 1 to 3 months out | https://squawkflow.com/options-flow/2026-11-06/meta-term-structure |
| Nov 6, 2026, 10:53 ET | MSFT | Volume vs open interest | MSFT 537.5 calls expiring Nov 6 (same day) traded 5.0x their open interest | https://squawkflow.com/options-flow/2026-11-06/msft-537p5-calls-nov-6-2026-volume-vs-open-interest |
| Nov 6, 2026, 09:32 ET | NVDA | Put/call by expiry | NVDA calls outnumbered puts 3.7 to 1 expiring Nov 6 (same day), vs a 1.5 median | https://squawkflow.com/options-flow/2026-11-06/nvda-calls-nov-6-2026-put-call-skew |
| Nov 6, 2026, 09:45 ET | SOFI | Put/call by expiry | SOFI calls outnumbered puts 4.9 to 1 expiring Nov 20 (2 weeks out), vs a 2.1 median | https://squawkflow.com/options-flow/2026-11-06/sofi-calls-nov-20-2026-put-call-skew |
| Nov 6, 2026, 09:40 ET | QQQ | Put/call by expiry | QQQ calls outnumbered puts 4.7 to 1 expiring Nov 11, vs a 0.9 median | https://squawkflow.com/options-flow/2026-11-06/qqq-calls-nov-11-2026-put-call-skew |
| Nov 6, 2026, 09:36 ET | AMD | Put/call by expiry | AMD calls outnumbered puts 4.9 to 1 expiring Nov 9, vs a 1.3 median | https://squawkflow.com/options-flow/2026-11-06/amd-calls-nov-9-2026-put-call-skew |
| Nov 6, 2026, 10:19 ET | QQQ | Put/call by expiry | QQQ puts expiring Nov 30 traded 4.0x the calls, vs a 1.4x median | https://squawkflow.com/options-flow/2026-11-06/qqq-puts-nov-30-2026-put-call-skew |
| Nov 6, 2026, 09:48 ET | GOOGL | Put/call by expiry | GOOGL calls outnumbered puts 4.9 to 1 expiring Nov 20 (2 weeks out), vs a 2.5 median | https://squawkflow.com/options-flow/2026-11-06/googl-calls-nov-20-2026-put-call-skew |
| Nov 6, 2026, 11:39 ET | XOM | Put/call by expiry | XOM calls outnumbered puts 4.4 to 1 expiring Nov 13 (1 week out), vs a 1.2 median | https://squawkflow.com/options-flow/2026-11-06/xom-calls-nov-13-2026-put-call-skew |
| Nov 6, 2026, 14:34 ET | XOM | Put/call by expiry | XOM puts expiring Jun 17, 2027 traded 4.7x the calls, vs a 0.6x median | https://squawkflow.com/options-flow/2026-11-06/xom-puts-jun-17-2027-put-call-skew |
| Nov 6, 2026, 09:56 ET | IWM | Put/call by expiry | IWM calls outnumbered puts 4.3 to 1 expiring Nov 12, vs a 1.2 median | https://squawkflow.com/options-flow/2026-11-06/iwm-calls-nov-12-2026-put-call-skew |
| Nov 6, 2026, 09:41 ET | AMZN | Put/call by expiry | AMZN calls outnumbered puts 4.3 to 1 expiring Nov 13 (1 week out), vs a 2.0 median | https://squawkflow.com/options-flow/2026-11-06/amzn-calls-nov-13-2026-put-call-skew |
| Nov 6, 2026, 10:20 ET | COIN | Put/call by expiry | COIN calls outnumbered puts 4.5 to 1 expiring Nov 13 (1 week out), vs a 1.7 median | https://squawkflow.com/options-flow/2026-11-06/coin-calls-nov-13-2026-put-call-skew |
| Nov 6, 2026, 10:51 ET | AMZN | Volume vs open interest | AMZN 267.5 calls expiring Nov 6 (same day) traded 5.0x their open interest | https://squawkflow.com/options-flow/2026-11-06/amzn-267p5-calls-nov-6-2026-volume-vs-open-interest |
| Nov 6, 2026, 10:21 ET | IWM | Put/call by expiry | IWM calls outnumbered puts 4.1 to 1 expiring Nov 10, vs a 1.2 median | https://squawkflow.com/options-flow/2026-11-06/iwm-calls-nov-10-2026-put-call-skew |
| Nov 6, 2026, 10:16 ET | NVDA | Put/call by expiry | NVDA calls outnumbered puts 3.7 to 1 expiring Jun 17, 2027, vs a 1.2 median | https://squawkflow.com/options-flow/2026-11-06/nvda-calls-jun-17-2027-put-call-skew |
| Nov 6, 2026, 12:13 ET | PLTR | Put/call by expiry | PLTR calls outnumbered puts 4.6 to 1 expiring Dec 17, 2027, vs a 1.1 median | https://squawkflow.com/options-flow/2026-11-06/pltr-calls-dec-17-2027-put-call-skew |
| Nov 6, 2026, 09:36 ET | TSLA | Put/call by expiry | TSLA calls outnumbered puts 4.5 to 1 expiring Nov 11, vs a 1.5 median | https://squawkflow.com/options-flow/2026-11-06/tsla-calls-nov-11-2026-put-call-skew |
| Nov 6, 2026, 09:34 ET | SOFI | Put/call by expiry | SOFI calls outnumbered puts 4.0 to 1 in contracts expiring Nov 6 (same day) | https://squawkflow.com/options-flow/2026-11-06/sofi-calls-nov-6-2026-put-call-skew |

## Biggest estimated premium by ticker, expiry and type

| Ticker, expiry, type | Est. premium (USD) | Volume (contracts) | Prior open interest |
|---|---:|---:|---:|
| SPY Nov 6 P | $624.4M | 4,051,499 | 273,900 |
| QQQ Nov 6 P | $412.2M | 2,851,818 | 234,950 |
| SPY Nov 20 P | $403.8M | 365,682 | 887,005 |
| META Jan 15 '27 C | $325.3M | 408,012 | 594,600 |
| QQQ Mar 19 '27 P | $219.5M | 58,264 | 648,856 |
| SPY Nov 9 P | $177.0M | 523,994 | 208,635 |
| QQQ Dec 18 P | $168.9M | 98,488 | 701,057 |
| QQQ Nov 9 P | $162.6M | 374,413 | 102,249 |
| NVDA Nov 6 P | $143.1M | 895,576 | 284,292 |
| QQQ Nov 20 P | $131.0M | 85,380 | 320,638 |

## Volume vs prior open interest by ticker, expiry and type (open interest >= 5,000)

| Ticker, expiry, type | Volume / prior OI | Volume (contracts) | Prior open interest |
|---|---:|---:|---:|
| SPY Nov 6 C | 18.4x | 3,940,100 | 213,721 |
| QQQ Nov 6 C | 17.2x | 2,320,598 | 134,903 |
| SPY Nov 6 P | 14.8x | 4,051,499 | 273,900 |
| QQQ Nov 6 P | 12.1x | 2,851,818 | 234,950 |
| TSLA Nov 6 C | 6.5x | 853,931 | 131,396 |
| TSLA Nov 6 P | 5.8x | 702,508 | 122,059 |
| AMD Nov 6 P | 5.1x | 219,965 | 42,772 |
| NVDA Nov 9 P | 4.9x | 217,183 | 44,433 |
| AMD Nov 6 C | 4.5x | 234,164 | 52,285 |
| AMD Nov 9 P | 4.5x | 32,859 | 7,343 |

## Put/call volume ratio by ticker and expiry (volume >= 5,000)

| Ticker, expiry | Put/call volume ratio | Put contracts | Call contracts |
|---|---:|---:|---:|
| AMD Jun 16 '28 | 56.18 | 9,382 | 167 |
| AMD Jan 21 '28 | 12.88 | 16,809 | 1,305 |
| SPY Nov 27 | 11.66 | 112,371 | 9,634 |
| AMD Dec 17 '27 | 8.61 | 7,562 | 878 |
| SPY Nov 20 | 6.11 | 365,682 | 59,846 |
| META Jan 15 '27 | 0.01 | 5,623 | 408,012 |
| SOFI Dec 18 | 0.03 | 3,888 | 111,164 |
| MSFT Dec 11 | 0.04 | 237 | 5,787 |
| SOFI Jan 15 '27 | 0.05 | 3,549 | 67,949 |
| BAC Nov 13 | 0.11 | 3,914 | 35,168 |

40 cells withheld: fewer than 3 traded contracts.

## Open interest rose at the latest settlement, by ticker, expiry and type (2026-11-05)

| Ticker, expiry, type | Change (contracts) | Open interest |
|---|---:|---:|
| XLV Mar 19 '27 P | +121,681 | 181,048 |
| XLP Jan 15 '27 P | +77,482 | 331,924 |
| LCID Dec 18 P | +64,925 | 323,429 |
| KWEB Feb 19 '27 C | +32,687 | 88,440 |
| SPX Apr 30 '27 C | +30,940 | 32,222 |
| INTC Sep 17 '27 C | +28,915 | 105,740 |
| EEM Dec 18 C | +27,690 | 800,976 |
| PLTR Nov 13 C | +27,271 | 70,192 |
| NVDA Nov 11 C | +23,925 | 40,311 |
| SOFI Nov 13 P | +18,979 | 51,509 |

Open interest change, not trades; it does not say which side opened or closed.

## Limits

- **Delayed at least 15 minutes.** Every figure is published at least 15 minutes after the chain capture it describes, and stamped with that capture time in Eastern time.
- **21 symbols intraday, about 200 end of day.** Intraday snapshots cover a fixed list of 21 symbols (major stocks, ETFs and the SPX index), not every optionable symbol. Open interest changes cover about 200 symbols from the nightly settlement open interest archive.
- **The strikes we track, not the full book.** A chain capture is a window: up to 40 strikes around the money in each expiration from the broker chain, or every strike in the nearest expirations from the delayed option chain. Totals, shares and ratios describe the strikes captured, and each snapshot states its own coverage.
- **Thin cells are withheld.** Every published total, ratio and share rests on at least 3 traded contracts (volume above zero; for open interest change, contracts whose open interest changed). A call or put side of one expiry below that is left out of every figure, shown as withheld, and counted in a footnote, so no difference between published numbers recovers it.
- **Session totals, not trades.** Volume is the session total read from chain snapshots, aggregated to ticker, expiry and call or put. There is no trade-by-trade record behind it, and no single trade is shown.
- **No buyer, seller or direction.** A chain cannot say who bought or sold, whether a contract was opened or closed, or whether it was one leg of a spread. Calls can be sold and puts can hedge stock, so no snapshot carries a direction.
- **Premium is an estimate.** Estimated premium is volume times the quote midpoint times 100 shares. It is labelled "est." wherever it appears.
- **Open interest arrives the next day.** Open interest is the prior settlement figure. Whether contracts stayed open is only known after the next settlement, which is when each snapshot gets its follow-up.

Hub: https://squawkflow.com/options-flow

## Citation

Source: SquawkFlow, https://squawkflow.com/options-flow/2026-11-06
Retrieved: 2026-11-06 22:15 ET
Attribution: cite the page URL rather than a copied number. Levels are
recomputed every session, so a number without its date is wrong within a day.

SquawkFlow publishes market-structure data and education. Nothing here is
investment advice, a price target or a recommendation, and we have no order
execution.