Tuesday and Wednesday both pinned last week which you can see at the end of this post. Friday the bears won although only by a very small bit. It did seem bulls were protecting Friday so that might lead to a pretty good bounce next week.
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 never triggered.
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
- 6 scratch trades
- 1 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: (17 of 27 for pins). This is pretty straightforward with the best pin at 288 and the best pin range from 287 to 289. If price opens under 287 and then tests that level but can’t hold over it then all bets are off for that pin. The same goes for price opening and holding over the 289 high calls. 
SPY-W: (75 of 103 pins). There isn’t much to see here except small call resistance at 292 and massive call resistance at 295. Basically, don’t expect a close over 295 Wednesday, which may not have seemed likely anyway, but there you have it.
SPY-F: (60 of 95 pins). The current best pin for Friday is 290, but this can change if either those calls or puts close out before expiration. Above 290 there is high call resistance at both 291 and 292. To the downside there is much less put support so if price gets below 288 there is some puts support, but not yet enough to stop motivated sellers. In general, unless there is news to cause a market rally then price likely doesn’t close above 292 next week.
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 9/4: Successful pin.
Wednesday 9/5: Successful pin.
Friday 9/7: Failed to the downside.
Tags: max pain, open interest, option trading, options, options expiration, options pin
SPY Open Interest for Mon, Wed & Friday of Week 9/10/18
Tuesday and Wednesday both pinned last week which you can see at the end of this post. Friday the bears won although only by a very small bit. It did seem bulls were protecting Friday so that might lead to a pretty good bounce next week.
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 never triggered.
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: (17 of 27 for pins). This is pretty straightforward with the best pin at 288 and the best pin range from 287 to 289. If price opens under 287 and then tests that level but can’t hold over it then all bets are off for that pin. The same goes for price opening and holding over the 289 high calls.
SPY-W: (75 of 103 pins). There isn’t much to see here except small call resistance at 292 and massive call resistance at 295. Basically, don’t expect a close over 295 Wednesday, which may not have seemed likely anyway, but there you have it.
SPY-F: (60 of 95 pins). The current best pin for Friday is 290, but this can change if either those calls or puts close out before expiration. Above 290 there is high call resistance at both 291 and 292. To the downside there is much less put support so if price gets below 288 there is some puts support, but not yet enough to stop motivated sellers. In general, unless there is news to cause a market rally then price likely doesn’t close above 292 next week.
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 9/4: Successful pin.
Wednesday 9/5: Successful pin.
Friday 9/7: Failed to the downside.
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Tags: max pain, open interest, option trading, options, options expiration, options pin