Your Open Interest Road Map to Next Week

Last week here I displayed the SPY open interest for Wednesday and Friday. The Wednesday expiration pinned where I described the best pin to be. The Friday expiration changed mid-week, which I posted to twitter since the change was fairly significant and changed the odds of where Friday would close. Indeed Friday also resulted in a pin. See the bottom of this post for both graphs.

Open Interest:

SPY-W: (38 of 47 pins since Wednesday expiration inception).* This open interest is pretty straightforward at the moment. The current best pin is 247 with a lot of put support at 245 and 246 which was some type of spread put on Friday. I don’t know the persons intention with the spread, but taken at face value if price gets under 246 it will likely come back up to close above there by Wednesday expiration (unless the OI changes). There is call resistance at 248 and not much else if price is able to get over that level and hold. 

SPY-F:  (31 of 41 pins since I began tracking Friday’s).* This one is also pretty straightforward with the current best pin at 247; however, it’s not very prominent and can easily change. There is very little put support and a ton of call resistance at 250. 

Promotional stuff: If you are a short term trader and have been on the losing side of most trades or just want to learn how to incorporate open interest and technical analysis to trade the overall market and momentum stocks consider joining one of  SassyOptions Premium services.

  •  Full premium service includes all day commentary, open interest and technical analysis on ‘in-play’ momentum stocks, and real time trade alerts through my exact entries and exists (meaning I can’t hide behind vague alerts).
  •  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 pinning can be found here. More information about what pinning is can be found under the education section of my site.

Wednesday 8/02: Successful pin. 

Friday 8/04: successful pin. 

Tags: , , , , , , ,