Last week all three SPY 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 – if you want an entry and exit alert you need to be a subscriber) sent to your mailbox Monday morning. Last weeks trade was TSLA. It triggered and although it did work, it didn’t hit all the targets and thus I will call it a scratch trade.
Below are the stats since weekly freebie began sending emails:
- 16 wins (I only count wins when they are either big wins or where there was enough time to take profits).
- 6 that didn’t trigger
- 7 scratch trades
- 1 loss
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- Full premium service includes all day commentary, open interest and technical analysis on ‘in-play’ momentum stocks. Real time trade alerts through my exact entries and exists (meaning I can’t hide behind vague alerts without telling you what price I paid or sold at).
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Open Interest: If you want more information on how to read the high calls and puts in the open interest see here.
SPY-M: (18 of 28 for pins). Monday’s expiration currently has the best pin being 290. There is better put support at 290 than call resistance so price may have an easier time moving up than down on Monday. With that said, there is still call resistance at 291 and 292 so there would have to be enough buyers to be able to push through those strikes. Should price get below (or open below the 290 puts) and not quickly recover then the next good put support is at 288. 
SPY-W: (61 of 96 pins). The current best pin for Wednesday’s expiration is 291. As long as those puts and calls stay at that strike (it could change as the week progresses) it could be used as an over under line. Over that level it has a chance to run to the high 293 calls; under that level and it could end up at the 288 puts or even the 285 strike if the market is showing very negative internals and a pick up of selling. In the end though, the 291 level may act as a sort of magnet. 
SPY-F: (70 of 94 pins). For now I would ignore the 285 perfect pin because price is currently not near it. If price breaks last weeks low then I think it becomes more possible and should be something to consider in conjunction with other indicators. There are high calls at 290 and 291. If price can hold over those calls then it has room before heavy call resistance at 295. If price remains under those 290 and 291 calls then it will end up either choppy or vulnerable to pulling back to the 285 level.
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 or here.
Monday 9/10: Successful pin.
Wednesday 9/12: Successful pin.
Friday 9/14: Successful pin. 
Tags: max pain, open interest, option trading, options expiration, options pin, pinning
September OPEX, plus Mon & Wed SPY Open Interest
Last week all three SPY 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 – if you want an entry and exit alert you need to be a subscriber) sent to your mailbox Monday morning. Last weeks trade was TSLA. It triggered and although it did work, it didn’t hit all the targets and thus I will call it a scratch trade.
Below are the stats since weekly freebie began sending emails:
Join SassyOptions: If you are a short term trader join us at SassyOptions Premium and take advantage of all its offerings that will help make you a better and more profitable trader.
Open Interest: If you want more information on how to read the high calls and puts in the open interest see here.
SPY-M: (18 of 28 for pins). Monday’s expiration currently has the best pin being 290. There is better put support at 290 than call resistance so price may have an easier time moving up than down on Monday. With that said, there is still call resistance at 291 and 292 so there would have to be enough buyers to be able to push through those strikes. Should price get below (or open below the 290 puts) and not quickly recover then the next good put support is at 288.
SPY-W: (61 of 96 pins). The current best pin for Wednesday’s expiration is 291. As long as those puts and calls stay at that strike (it could change as the week progresses) it could be used as an over under line. Over that level it has a chance to run to the high 293 calls; under that level and it could end up at the 288 puts or even the 285 strike if the market is showing very negative internals and a pick up of selling. In the end though, the 291 level may act as a sort of magnet.
SPY-F: (70 of 94 pins). For now I would ignore the 285 perfect pin because price is currently not near it. If price breaks last weeks low then I think it becomes more possible and should be something to consider in conjunction with other indicators. There are high calls at 290 and 291. If price can hold over those calls then it has room before heavy call resistance at 295. If price remains under those 290 and 291 calls then it will end up either choppy or vulnerable to pulling back to the 285 level.
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 or here.
Monday 9/10: Successful pin.
Wednesday 9/12: Successful pin.
Friday 9/14: Successful pin.
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Tags: max pain, open interest, option trading, options expiration, options pin, pinning