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 week was off, but two weeks ago was FB and if you took the trigger it was a huge winner and hit all the targets I provided and even exceeded it.
Below are the stats since weekly freebie began sending emails:
- 18 wins (I only count wins when they are either big wins or where there was enough time to take profits).
- 7 that didn’t trigger
- 7 scratch trades
- 2 loss
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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: (25 of 39 for pins).* The best pin for Monday is 273 with a range from 272 and 275. With that said, if price opens above 275 and holds then price is demonstrating strength and likely will continue higher with the next high call resistance levels at 279 and then 282. Again, holding over high calls is evidence of strength that often leads to continuation. The opposite is also true of course so opening under 271 and holding would be evidence of weakness that would likely continue lower. 
SPY-W: (80 of 115 pins).* The obvious strike that sticks out is the 272 calls. Of course if we open above it and don’t head lower than those can only strengthen price movement or possibly close out prior to expiration. If we open under or get below 272 then it likely won’t comeback till at least after Wednesday’s expiration. Should we rally hard then 284 is the only other strike that could pose as resistance (so far). 
SPY-F: (66 of 107 pins).* Friday’s expiration has a range from 270 to 280. Thus, unless there is an outsized move (which based on our recent volatility of course can happen) then price should stay above 270 and below 280 for the week. Furthermore, if price gets under or over those price levels there are high odds it ends up back within the range before the week is over. And if price does hold (for a substantial amount of time) under or over one of the levels then it just gives credence to heavy selling or buying and should be recognized. 
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 11/26: Successful pin.
Wednesday 11/28: Failed to the upside.
Friday 11/30: Failed to the upside.
Tags: max pain, open interest, option trading, options, options expiration, options pin
SPY Open Interest for Mon, Wed, Friday for Week 12/03/18
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 week was off, but two weeks ago was FB and if you took the trigger it was a huge winner and hit all the targets I provided and even exceeded it.
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: (25 of 39 for pins).* The best pin for Monday is 273 with a range from 272 and 275. With that said, if price opens above 275 and holds then price is demonstrating strength and likely will continue higher with the next high call resistance levels at 279 and then 282. Again, holding over high calls is evidence of strength that often leads to continuation. The opposite is also true of course so opening under 271 and holding would be evidence of weakness that would likely continue lower.
SPY-W: (80 of 115 pins).* The obvious strike that sticks out is the 272 calls. Of course if we open above it and don’t head lower than those can only strengthen price movement or possibly close out prior to expiration. If we open under or get below 272 then it likely won’t comeback till at least after Wednesday’s expiration. Should we rally hard then 284 is the only other strike that could pose as resistance (so far).
SPY-F: (66 of 107 pins).* Friday’s expiration has a range from 270 to 280. Thus, unless there is an outsized move (which based on our recent volatility of course can happen) then price should stay above 270 and below 280 for the week. Furthermore, if price gets under or over those price levels there are high odds it ends up back within the range before the week is over. And if price does hold (for a substantial amount of time) under or over one of the levels then it just gives credence to heavy selling or buying and should be recognized.
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 11/26: Successful pin.
Wednesday 11/28: Failed to the upside.
Friday 11/30: Failed to the upside.
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Tags: max pain, open interest, option trading, options, options expiration, options pin