Last week here I discussed that there were more puts in the open interest and that if price could stay over them then there was a lot of room higher. I discussed that 266 was a bit of an inflection point which is right where price stalled on both Monday and Tuesday. Once it cleared that area it had tons of upside room to 273 where there was a culmination of high puts and calls were. In the end that is where price gravitated to and closed out Friday for a perfect pin. Overall if you were on the right side of the market it was a fantastic week. If you weren’t you may want to consider joining SassyOptions premium – more info below.
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 (Tuesday for holiday’s). Last week was AAPL and it was a huge winner. In SassyOptions premium with real time alerts we took AAPL calls from $0.77 to $8.0. The stats for the weekly freebie since I began sending them are as follows :
- 5 wins (I only count wins when they are big wins).
- 1 that didn’t trigger
- 3 scratch trades
- 1 loss
Open Interest: If you want more information on how to read the high calls and puts in the open interest see here.
SPY-W: (54 of 75 pins since Wednesday expiration inception).* Currently the Wednesday expiration shows the best pin at 270 and good put support at both 264 and 266. Should price remain above 270 then there is small resistance at 275 and not much else. 
SPY-F: (44 of 68 pins since I began tracking Friday expiration).* Friday’s expiration shows high call resistance at 275 and then again at 277. A hold over both those levels would demonstrate a very strong market that you should go with and not fight. However, any stalling around that area and SPY is likely to close at or below 275 by Friday expiration (assuming the OI doesn’t change). To the downside there is some put support at 270, but stronger put support starting at 268 through 265. Thus, both Wednesday and Friday suggest any large pullback toward the 265-268 area would be a good buy opportunity. 
Promotional stuff: If you are a short term trader and under performing or finding yourself on the wrong side of the market join us at SassyOptions Premium services and up your game. It’s not to late to make 2018 amazing.
- Full premium service includes all day commentary, open interest and technical analysis on ‘in-play’ momentum stocks, and 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).
- Weekly Open Interest and Strategy Post – Open interest and technical analysis for how to trade AAPL, AMZN, BABA, FB, GS, GOOGL, NFLX, TSLA for this coming week. This does not include my private twitter, exact trades or any other updates.
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 of my site.
Wednesday 2/14: Successful pin. 
Friday 2/16: Successful pin. 
Tags: max pain, open interest, option trading, options, options expiration, options pin, S&P 500, SPX, spy
What SPY Open Interest Suggests for Next Week
Last week here I discussed that there were more puts in the open interest and that if price could stay over them then there was a lot of room higher. I discussed that 266 was a bit of an inflection point which is right where price stalled on both Monday and Tuesday. Once it cleared that area it had tons of upside room to 273 where there was a culmination of high puts and calls were. In the end that is where price gravitated to and closed out Friday for a perfect pin. Overall if you were on the right side of the market it was a fantastic week. If you weren’t you may want to consider joining SassyOptions premium – more info below.
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 (Tuesday for holiday’s). Last week was AAPL and it was a huge winner. In SassyOptions premium with real time alerts we took AAPL calls from $0.77 to $8.0. The stats for the weekly freebie since I began sending them are as follows :
Open Interest: If you want more information on how to read the high calls and puts in the open interest see here.
SPY-W: (54 of 75 pins since Wednesday expiration inception).* Currently the Wednesday expiration shows the best pin at 270 and good put support at both 264 and 266. Should price remain above 270 then there is small resistance at 275 and not much else.
SPY-F: (44 of 68 pins since I began tracking Friday expiration).* Friday’s expiration shows high call resistance at 275 and then again at 277. A hold over both those levels would demonstrate a very strong market that you should go with and not fight. However, any stalling around that area and SPY is likely to close at or below 275 by Friday expiration (assuming the OI doesn’t change). To the downside there is some put support at 270, but stronger put support starting at 268 through 265. Thus, both Wednesday and Friday suggest any large pullback toward the 265-268 area would be a good buy opportunity.
Promotional stuff: If you are a short term trader and under performing or finding yourself on the wrong side of the market join us at SassyOptions Premium services and up your game. It’s not to late to make 2018 amazing.
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 of my site.
Wednesday 2/14: Successful pin.
Friday 2/16: Successful pin.
Share this:
Tags: max pain, open interest, option trading, options, options expiration, options pin, S&P 500, SPX, spy