Last week I said that SPX would likely be slow and rangebound till at least after Wednesday’s expiration, but that the grind higher was more likely than a drop lower. SPX finally made a new high by more than one tick and is currently holding that new high well. That doesn’t necessarily mean things are off to the...
Last week was by no means easy to navigate, but we timed it pretty much as well as anyone could. I’m pretty sure not many people were selling longs on Tuesday and putting on a hedge (that ended up being a real nice winner). Anyway, the good news is that we might begin to see some...
Despite that SPX barely moved last week, we definitely had some pretty good opportunities to take advantage of. Next week is monthly OPEX so most of the open interest won’t shift much. There really isn’t much to say about SPX right now as it remains rangebound. Although two Friday’s ago it seemed to have closed over...
Despite that SPX didn’t really go anywhere last week, we had some decent opportunities in individual stocks. In the short term there is nothing new to say. The bulls still have the upper hand, and SPX is likely to make new highs next week. With that said, there is risk of a large gap down due...
What Open Interest Says About Next Week
Two weeks ago here, I wrote that if the SPX gaps filled it was a good buying opportunity. Then last week here, I wrote that the market would likely grind higher once again and possibly break new highs after the Wednesday SPY expiration. Yes, yes and yes! Open Interest: SPY-W: (29 of 37 pins since Wednesday […]
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