Open Interest for the Upcoming Week of 12/18

Last week here I showed there was a lot of open calls on both the SPY Wednesday and Friday expiration and I wrote that it seemed more likely that price would close below those high calls. I was wrong and the strength of this market was able to push and keep price over those high calls. SPX ended at all time highs and given the strength, is likely to make another all time high next week.

If you have not yet subscribed to my weekly freebie you can do so below to get next weeks trade sent to your mailbox Monday morning. Last week I outlined a trade for GS. If you took it you probably did well. In my full premium service (where I alert the actual buy and sell for the trade) we took calls from $1.04 to $5.80. 

Open Interest:

SPY-W: (49 of 66 pins since Wednesday expiration inception).* Price closed Friday above the high 266 calls so as long as price can stay above those calls then there isn’t much call resistance till 270 giving it room to rally. To the downside there isn’t much put support till the small amount at 263 and than much larger support at 260.

SPY-F: (41 of 60 pins since I began tracking Friday’s).* Regarding Friday’s expiration, if price can get and hold over the 267 calls then there isn’t much in the way of resistance till the 270 strike. However, the longer price remains below 267 (if it doesn’t gap over that level early in the week) the harder it becomes to get and hold over it. Similar to Wednesday’s expiration, below the high calls there isn’t much put support till  263 and then 260. 

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  •  Weekly Open Interest and Strategy Post – Open interest and technical analysis for how to trade AAPL, AMZN, BABA, FB, GS, GOOGL, NFLX, TSLA for this coming week. This does not include my private twitter, exact trades or any other updates.

Pinning stuff:

*An explanation as to how I define range pinning can be found here. More information about what pinning is can be found under the education section of my site.

Wednesday 12/13: Failed pin to the upside.

Friday 12/15: Failed pin to the upside.

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