Open Interest Updates for SPY AAPL AMZN BIDU FB GOOG NFLX TSLA & TWTR

Not much has changed in my overall view of the market from what I wrote over the weekend here.

Here are some open interest updates:

SPY: 188 needs to hold up. I worry that if price goes below there for too long it will lead to a larger sell off with all those puts and delta hedging. 

AAPL: Held strong all day and this open interest looks a little better. Maybe it can run to 540 before struggling again. 

AMZN: Staying above 370 would help the bullish case or at least prevent a sell off. That 50 day is also acting as resistance. I’m still long April calls, but from much lower.

BIDU: It needs to hold over 180 to get going.

FB: Would have been more bullish to see the 70 calls close out. It’s still early in the week so let’s see if price can move higher and some of them close.

GOOG: This would concern me if I was long from a risk/reward perspective.

NFLX: No comment on the stock, but I just watched the first episode of season 2 House of Cards. I did not see that coming!

TSLA: I have no idea, but likely not over 250. Maybe if price gets to 250 I would sell a call spread. 

TWTR: So in case you haven’t read my post on TWTR I am bullish and here is my reasoning. Having said that, this open interest concerns me and the move may end up stalling due to all those calls. If this thing can pick up momentum though then those calls could easily be taken out especially with the small float of shares available to trade. 

Starting April I will be starting a subscription. Part of it will involve this type of analysis, but it will also include a lot more. If it’s something you would be interested in learning more about please email me at rsassy.spy@gmail.com.