SPY-M: Monday’s expiration’s best pin is between 281 and 284. SPY closed at 282.84 so it’s currently right within that range. Anything under 281 that holds would be bearish and anything over 284 that holds is bullish. There is a possibility we get a lot of buyers because of the start of the second quarter,...
Friday’s down move seemingly came out of nowhere. I’m pretty sure it took most, if not all people (except perma-bears that expect for a crash every day) by surprise. Prior to Friday there was a feel of a chase getting ready to begin and for now I think Friday’s move has paused that and not...
This is the first time since the beginning of the year that 20-day highs is getting to an oversold place. SPY-M: Monday’s expiration has high calls at 275. We closed below there on Friday so the best scenario would be to gap over those puts and go. If we open under 275 and test that...
SPY-M: The best pin for Monday is 280. If price gets over 281 and holds it gives us a clue that market is strong and then can probably even push to the 282 calls or higher. Same goes for if price gets under the 279 puts. It would be demonstrating weakness and market might push...