Last week here I showed the thee open interest ranges for SPY. They shifted a bit during the week with Monday and Wednesday both pinning. Wednesday actually landed right on the high calls, which demonstrated a lot of strength and lo and behold that strength continued into Friday and closed above the high calls. If […]
If you have not yet subscribed to my weekly freebie you can do so below to get next weeks free trade idea sent to your mailbox Monday morning. Last week we were off, but two weeks ago was $AMZN and if you took the trade it was a MASSIVE winner. The stats for the weekly freebie […]
Last week here I showed the three different open interests for SPY and detailed where things could end up based on the high calls or puts. Importantly, I described that the Friday expiration had the risk of delta hedging to the downside particularly at the end of the week (that phenomena leads to a swift […]
Lessons you can learn from last weeks open interest: Last week here I showed three SPY expirations as we now have Monday expiration. I showed where the best Monday pin would be, but said that if we opened and held over 275 that it was a go with and it likely wouldn’t pin. That indeed […]
Last week here I showed the SPY open interest which had lots of puts lined up, but with price underneath many of them. I said we would likely see changes to the open interest as the week pborgress and we certainly did. As the week progressed the puts kept growing. Every day that we couldn’t hold […]
Last week here I outlined that the open interest favored the bulls. I also stated that because of Wednesday’s open interest, should SPY get below 273, it was a buy. If you bought when SPY went to 272.92 your indeed did very well. If you have not yet subscribed to my weekly freebie you can do […]
Last week here I discussed the likelihood of new highs, but that price was unlikely to close above SPY 260 for both open interest reasons as well as psychological round number reasons. A new high was made, but as price approached the 260 level SPY pulled back. For the first time in several weeks SPY […]
Last week here I showed the high open interest calls on SPY that could act as resistance. For Wednesday the calls were a bit of a deterrent to price and SPY did pin. Throughout the week the SPY Friday open interest that started with lots of high calls were met with many high puts and […]
Last week here I showed both the SPY Wednesday and Friday expiration. I pointed out the very good put support for Wednesday and the call resistance (248). I also pointed out that there was pretty much no put support for Friday. If you weren’t suspicious of the Tuesday morning up move (which blew through the […]
It’s been a couple of weeks since I’ve posted, but in the meantime I have tweeted the weekly open interest for SPY charts and continue to keep track of them which you can view at the bottom. Open Interest: SPY-W: (35 of 43 pins since Wednesday expiration inception). Taken at face value this open interest is bullish […]
Last week here in the summary of my post I wrote: “In Sum, the grind higher is likely to continue in SPY; however, a pullback into support is possible and also a buying opportunity if it happens toward the beginning of the week…..“. This was available for anyone to read and was a HUGE trade […]
Last week here I discussed that it would be difficult for SPY to stay over 240 based on the open interest for both Wednesday and Friday expiration. I also said that if SPY took out the lows from the previous week that it may be headed for both it’s gap fills and added that it was […]
Last week here I said SPX was likely to make a new high – Check ✅ (albeit by a very small amount). I also showed that both the Wednesday and Friday open interests had calls stacked at 240. Going into the week I believed that the right set-up existed for bulls to really push SPY over […]
Last week here I discussed that the overall trend was still higher, but that bulls needed to “curb their enthusiasm” as there were a lot of open calls that would act as resistance for both the Wednesday and Friday SPY expiration. I then updated that during the week over twitter with the message that bears should […]
Last week here I wrote that the path of least resistance remained higher despite the possibility of remaining in a range. Importantly, I showed the Wednesday open interest and suggested that pullbacks to or under 237 would likely be bought. Thus, the pullback early in the week provided an excellent opportunity to get long into Wednesday. Below you […]
Last week here I wrote “For next week, if SPX stays below 1872, then assume all bounces should be sold and price is likely headed to 1850, and then near or below 1812.” Furthermore, I posted the open interest for SPY which suggested a close over 185 by Friday. Somehow, both things worked out even though […]
Last week was a good example of what can happen when price begins to fall through heavy put strikes and something that short term traders should be aware of even if they don’t trade options. Last week here, I posted the open interest for the start of the week which had a more bullish look […]
Last week here, I was bullish biased thinking the market wouldn’t do too much as it waited for the Fed, but that it would at least hold up due to all the puts that had potential to act as support. Instead price struggled from the start of the week to push over the puts and […]
SPY Mon, Wed, Friday Open Interest for Week 8/06/18
Last week here I laid out the three open interest ranges for SPY expirations. In general it was a non-eventful week in that all three expirations pinned as you can see below. If you have not yet subscribed to my weekly freebie you can do so below to get next weeks free trade IDEA (not alert […]
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