Last week was full of rangebound chop and the result was a pin on all three expirations which you can see at the bottom of this post.
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 Freebie was FB which triggered, but only got to its first target and wasn’t an easy process getting there. At SassyOptions we tried the trade and took calls from $1.13 to $1.36. Although we managed the trade well, I don’t consider a winner (but wasn’t a loser if you managed it well). Thus, I consider it a scratch trade.
- 16 wins (I only count wins when they are either big wins or where there was enough time to take profits).
- 4 that didn’t trigger
- 6 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: (14 of 21 for pins since Monday expiration inception).* This is a tough open interest to interpret because there are high calls at a lower strike then many of the high puts. At the moment and based on where price closed on Friday, we can look at the 280 puts as support, but if price holds under them then the next high puts to pay attention to are 278 and then 277. If price remains above the 280 puts then it might make for a choppy rangebound day because of the high 281 call resistance unless price was strong enough to get and hold over those calls. 
SPY-W: (72 of 97 pins since Wednesday expiration inception).* The current best pin for Wednesday’s expiration is 280, but there is plenty of time and room for this to change by then. Under 280 there isn’t really much put support till 275. Over 280 there isn’t call resistance till 283. So in the end where price may or may not go depends on if it can hold above 280 or not. 
SPY-F: (70 of 94 pins since I began tracking Friday’s).* The current best pin for Friday’s expiration is between 278 to 279. Under 278 and there isn’t any put support till 275. Over 279 and there is room to run before facing call resistance first at 282 and then again from 283 to 285. Thus, for now, there is a defined range to work with based on whether price is under 278 or over 279. Remember this can change as the week progresses and I don’t always post the changes to public twitter so it’s up to you to check for changes if not part of my premium service. 
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 7/16: Successful pin.
Wednesday 7/18: Successful pin. 
Friday 7/20: Successful pin.
Tags: max pain, open interest, option trading, options, options expiration, options pin, pinning, spy
SPY Mon, Wed, Friday Open Interest for Week 7/23/18
Last week was full of rangebound chop and the result was a pin on all three expirations which you can see at the bottom of this post.
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 Freebie was FB which triggered, but only got to its first target and wasn’t an easy process getting there. At SassyOptions we tried the trade and took calls from $1.13 to $1.36. Although we managed the trade well, I don’t consider a winner (but wasn’t a loser if you managed it well). Thus, I consider it a scratch trade.
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: (14 of 21 for pins since Monday expiration inception).* This is a tough open interest to interpret because there are high calls at a lower strike then many of the high puts. At the moment and based on where price closed on Friday, we can look at the 280 puts as support, but if price holds under them then the next high puts to pay attention to are 278 and then 277. If price remains above the 280 puts then it might make for a choppy rangebound day because of the high 281 call resistance unless price was strong enough to get and hold over those calls.
SPY-W: (72 of 97 pins since Wednesday expiration inception).* The current best pin for Wednesday’s expiration is 280, but there is plenty of time and room for this to change by then. Under 280 there isn’t really much put support till 275. Over 280 there isn’t call resistance till 283. So in the end where price may or may not go depends on if it can hold above 280 or not.
SPY-F: (70 of 94 pins since I began tracking Friday’s).* The current best pin for Friday’s expiration is between 278 to 279. Under 278 and there isn’t any put support till 275. Over 279 and there is room to run before facing call resistance first at 282 and then again from 283 to 285. Thus, for now, there is a defined range to work with based on whether price is under 278 or over 279. Remember this can change as the week progresses and I don’t always post the changes to public twitter so it’s up to you to check for changes if not part of my premium service.
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 7/16: Successful pin.
Wednesday 7/18: Successful pin.
Friday 7/20: Successful pin.
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Tags: max pain, open interest, option trading, options, options expiration, options pin, pinning, spy