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 and the next couple weeks during earnings season will be off. Below are […]
Last week here I discussed the possibility for delta hedging. If you don’t understand the concept I encourage you to take the time to read about here. Although it doesn’t happen often, it’s helpful to know when it is a possibility and the outcome of it. If you have not yet subscribed to my weekly […]
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 SassyOptions took the week off from the freebie. Below are […]
Two pins last week on SPY and one fail which you can see below. 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 […]
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 […]
There haven’t been any posts for a couple weeks so there is nothing to look back at. Below though is next weeks open interest information for SPY. 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 […]
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 […]
Hope everyone had a lovely holiday. Last week the free weekly post was off, but you can see below that all three expirations for SPY did indeed pin. In fact, those that either belong to my service or took it upon themselves to look at Friday’s open interest would have known the high likelihood of […]
Last week here we had three expirations that didn’t give much in the way of a “best pin,” but did offer information about where there would be high put support and/or call resistance. I mentioned the high puts at 276 for Friday’s expiration and said that upon a first touch or break of that it […]
Last week here, I showed the three SPY open interest ranges for expiration and price pretty much held very nicely within them. I guess that isn’t so hard when the market trades in a very small range. Yet if you knew where there was put support and call resistance it could have prevented you from […]
Last week here I showed the several SPY open interest expirations and unfortunately they weren’t as helpful as some often are; however, they were able to express the possibility of a rangebound market between of 270 to 275. Although traders likely wanted to see more out of last weeks market, the range did in fact […]
Last week here there was definitely a bias for both some upside (given the high 262 puts) as well as a bit of a rangebound market because of Friday’s expiration. In the end the Monday open interest failed to keep prices up, but the down move did provide a great buying opportunity for Wednesday’s pin. […]
Last week here I showed the three different open interests for SPY and detailed where things could end up based on the high calls or puts. Importantly, I described that the Friday expiration had the risk of delta hedging to the downside particularly at the end of the week (that phenomena leads to a swift […]
Last week here we had three SPY expirations, but the most important one was Friday’s because it was monthly expiration. The Monday expiration pinned well, the Wednesday was so so, but the Friday one was what really affected price. SPY got as high as 280.41 last week and if you read my post you knew […]
What you could learn from last weeks rare open interest: Last week here I discussed that SPY 273 was likely a magnet, but that it probably would not pin there. I described how you could use the type of open interest we had (a rare open interest) to determine the type of trading environment we […]
Lessons you can learn from last weeks open interest: Last week here I showed three SPY expirations as we now have Monday expiration. I showed where the best Monday pin would be, but said that if we opened and held over 275 that it was a go with and it likely wouldn’t pin. That indeed […]
Last week here I outlined the levels of high puts and calls that would likely act as support or resistance respectively. I also mentioned the possibility of a 270 SPY pin for Wednesday. Although the price action Wednesday morning was tricky to see 270 was still a possibility, if you were looking for the correct […]
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 […]
Last week here I showed the SPY open interest which had lots of puts lined up, but with price underneath many of them. I said we would likely see changes to the open interest as the week pborgress and we certainly did. As the week progressed the puts kept growing. Every day that we couldn’t hold […]
Last week here I showed there was SPY put support at 181 and mentioned that a good buy the dip point would be around 182 to 183. That was clearly the wrong call as price pushed through those levels and the 181 puts began to disappear as the week went on. By the end of […]
Last week here I discussed the high calls a 280 and mentioned that if price got and held above it it was not worth fighting. Indeed price flew above that level at the start of the week and never looked back. If you have not yet subscribed to my weekly freebie you can do so […]
Last week here I discussed that it was monthly OPEX and thus, the obvious pin which was way below price would likely fail. I also said that should price fall back to SPY 256 it was likely a good buy opportunity (that information was not based on the open interest, but technical analysis). Price got to […]
Last week here I outlined that the open interest favored the bulls. I also stated that because of Wednesday’s open interest, should SPY get below 273, it was a buy. If you bought when SPY went to 272.92 your indeed did very well. If you have not yet subscribed to my weekly freebie you can do […]
I hope everyone had an amazing new year and trading week. If you didn’t you should consider subscribing below because weeks like this are as easy as they come and it’s not to late to make 2018 a great year. If you have not yet subscribed to my weekly freebie you can do so below […]
Last week here I showed there was a lot of open calls on both the SPY Wednesday and Friday expiration and I wrote that it seemed more likely that price would close below those high calls. I was wrong and the strength of this market was able to push and keep price over those high calls. […]
Last week here I wrote that if SPY could not hold over 265 early in the week it was unlikely to get back over that level until at least after Wednesday expiration because of all the high calls. SPY closed under 265 on Monday and with that came a very small pullback, but SPY didn’t […]
Hope everyone had a lovely Thanksgiving weekend. Open Interest: SPY-W: (48 of 63 pins since Wednesday expiration inception).* The only thing that sticks out is the high 260 calls. If price opens Monday over 260 or quickly gets over that level and doesn’t look back then you want to go with because it is showing great […]
Last week here I discussed the likelihood of new highs, but that price was unlikely to close above SPY 260 for both open interest reasons as well as psychological round number reasons. A new high was made, but as price approached the 260 level SPY pulled back. For the first time in several weeks SPY […]
Last week here I said that SPY was likely to make a new high and showed the resistance and support areas for SPY’s Wednesday and Friday’s expiration. Both expirations pinned fairly well, which is no surprise given the slow nature of the move. SPY is likely to make another new high again in the next […]
I was out of town last weekend hence no post. Luckily I returned in time to trade the Friday fun. SPX closed at a new high and is likely to see another new high at some point next week. Open Interest: SPY-W: (45 of 59 pins).* Currently the best pin is around 256, but it’s […]
Last week here I showed the open interest for both Wednesday and Friday expiration and wrote that after two closes over the high calls it was likely that SPX would take some time to consolidate and was unlikely to close over the high calls again. SPX consolidated in a very strong tight range and indeed […]
Last week here I wrote about the high calls for both the Wednesday and Friday SPY expirations. I wrote that if price were to open or get above them NOT to fight it and that it could even push price up faster due to delta hedging. If you are going to use the open interest […]
Last week here I showed the high open interest calls on SPY that could act as resistance. For Wednesday the calls were a bit of a deterrent to price and SPY did pin. Throughout the week the SPY Friday open interest that started with lots of high calls were met with many high puts and […]
Last week here I gave the basic SPY call and put parameters. Both Wednesday and Friday SPY did what it does best….pinned. Onto next week: Open Interest: SPY-W: (43/54 since Wednesday expiration inception).* The current best pin is between 249.5 and 250, but can easily change if there is decent price movement early in the week. […]
Last week here I showed where there would likely be call resistance on SPY prior to expiration. At the start of the week SPY blew through the high call resistance with strong breadth and never looked back. It was one of the first times in a while SPY was able to make such a leap […]
Last week here I suggested that both the Wednesday and Friday SPY open interest supported a rangebound week. That came to fruition and there really only was one good opportunity which came Tuesday when SPY fell below two levels of high puts. Knowing where the likely pin would be Wednesday, combined with technical support levels, […]
I’m back and here is your SPY open interest for next week. If you want the real goods you should subscribe below. SPY-W: (41 of 51 pins since Wednesday expiration inception).* The current best pin is clearly 247. There is also more puts at that strike than calls making it pretty good support coupled with the […]
Last week here along with the SPY open interest notes, I shared my thoughts that I did not believe the lows were in yet. The open interest turned out to be very helpful (as it usually is) because when SPY traded above the high calls for Wednesday’s expiration (which happened to also be technical resistance) […]
Last week here I showed both the SPY Wednesday and Friday expiration. I pointed out the very good put support for Wednesday and the call resistance (248). I also pointed out that there was pretty much no put support for Friday. If you weren’t suspicious of the Tuesday morning up move (which blew through the […]
Last week here I displayed the SPY open interest for Wednesday and Friday. The Wednesday expiration pinned where I described the best pin to be. The Friday expiration changed mid-week, which I posted to twitter since the change was fairly significant and changed the odds of where Friday would close. Indeed Friday also resulted in a […]
Last week here I gave you the SPY parameters for both Wednesday and Friday (and updated them over twitter). What you did with them I have no idea, but they worked well (see below for last weeks pin information). For newbies to open interest, knowing where SPY won’t go is often just as valuable as […]
Last week here I gave the SPY open interest range and also wrote that based on last Friday’s close higher prices were likely coming. I clearly laid out where there was put support and where there was call resistance – both got hit and rejected price. Knowing where SPY can go and will likely fail is […]
Last week here I stated the open interest favored higher prices and was “notably bullish.” I showed that there were no calls in the way of making new highs, something that doesn’t happen very often. And now here we are at all time highs. Open Interest: SPY-W: SPY-W: (36 of 44 pins since Wednesday expiration inception).* The current […]
It’s been a couple of weeks since I’ve posted, but in the meantime I have tweeted the weekly open interest for SPY charts and continue to keep track of them which you can view at the bottom. Open Interest: SPY-W: (35 of 43 pins since Wednesday expiration inception). Taken at face value this open interest is bullish […]
I’ve been on vacation for a bit, but I just got back so here is a very quick post for next week. Open Interest: SPY-W: (33 of 41 pins since Wednesday expiration inception).* This open interest is more bullish and currently suggests a pin of 234 to 244. With that said, there is very little call resistance […]
Last week here in the summary of my post I wrote: “In Sum, the grind higher is likely to continue in SPY; however, a pullback into support is possible and also a buying opportunity if it happens toward the beginning of the week…..“. This was available for anyone to read and was a HUGE trade […]
Two weeks ago here, I wrote that if the SPX gaps filled it was a good buying opportunity. Then last week here, I wrote that the market would likely grind higher once again and possibly break new highs after the Wednesday SPY expiration. Yes, yes and yes! Open Interest: SPY-W: (29 of 37 pins since Wednesday […]
Last week here I discussed that it would be difficult for SPY to stay over 240 based on the open interest for both Wednesday and Friday expiration. I also said that if SPY took out the lows from the previous week that it may be headed for both it’s gap fills and added that it was […]
Last week here I said SPX was likely to make a new high – Check ✅ (albeit by a very small amount). I also showed that both the Wednesday and Friday open interests had calls stacked at 240. Going into the week I believed that the right set-up existed for bulls to really push SPY over […]
Last week here I said the path of least resistance remained higher and that SPX was likely to make a new high in the coming weeks. I also discussed the heavy call resistance for both Wednesday and Friday’s expiration. In the end, the call resistance did hold SPY back for most of the week, but the […]
Last week here I laid out reasons why both the bulls and bears should curb their enthusiasm. The open interest suggested that price action would likely be rangebound, with a slight edge to the bulls. As the week progressed and the market moved lower, the open interested shifted a bit not giving much of an […]
Last week here I discussed that the overall trend was still higher, but that bulls needed to “curb their enthusiasm” as there were a lot of open calls that would act as resistance for both the Wednesday and Friday SPY expiration. I then updated that during the week over twitter with the message that bears should […]
Last week here I stated that the edge continued to remain with the bulls, but that I expected a slow and rangebound week. Obviously, I was wrong in that I didn’t see the range breaking to the downside; however, minus the drop on Tuesday, the rest of the week was definitely slow and rangebound. I also […]
Last week here I wrote that the path of least resistance remained higher despite the possibility of remaining in a range. Importantly, I showed the Wednesday open interest and suggested that pullbacks to or under 237 would likely be bought. Thus, the pullback early in the week provided an excellent opportunity to get long into Wednesday. Below you […]
Last week here I made the case for a likely pullback/pause. Indeed, the market did pullback, but by the end of the week recovered some of its losses to close 10 points lower than last Friday. Next week is Quad witching/OPEX, which tends to have a bullish bias. Although I do think it’s possible for SPX to […]
Last week here I suggested that there was likely a new high to be made. That indeed worked out, but for the first time in a while some cracks* began to show late in the week. I am not ready to call for a pullback and would not be surprised to see another new high […]
Last week here I wrote “For next week, if SPX stays below 1872, then assume all bounces should be sold and price is likely headed to 1850, and then near or below 1812.” Furthermore, I posted the open interest for SPY which suggested a close over 185 by Friday. Somehow, both things worked out even though […]
Last week was a good example of what can happen when price begins to fall through heavy put strikes and something that short term traders should be aware of even if they don’t trade options. Last week here, I posted the open interest for the start of the week which had a more bullish look […]
Last week here, I was bullish biased thinking the market wouldn’t do too much as it waited for the Fed, but that it would at least hold up due to all the puts that had potential to act as support. Instead price struggled from the start of the week to push over the puts and […]
Note: I will be on Fox Business Tuesday at 4:00 pm so please tune in :-). Last week here I wrote that the most likely scenario would be a choppy start to the week followed by a rally in both equites and treasuries. That was right on and those prepared for it were paid handsomely. Keeping […]
Last week here I wrote that we were likely to bounce, but also to make a lower low. Both did indeed take place. The question now becomes have we bottomed or is there more downside to come and if so, how far? A look at how oversold the market is: 20-day highs went below 5% which […]
Last week here I wrote that the most likely scenario based on the evidence was a period of consolidation and/or pullback. Based on the open interest I also discussed the drop that would likely happen if we breached the 210 level on SPY more than once. Both scenarios played out and now we find ourselves threatening […]
Last week here I wrote “I took a look at every bullish weekly MACD signal cross since March 2009. In each of the 10 instances, the market continued to make higher highs the following week 100% of the time. Furthermore, in 9 of 10 instances the market also closed higher to end the week. The one instance […]
Last week here I wrote that the path of least resistance for the week ahead was higher, which played out nicely. This week, the same is true, yet as a short-term trader I am more cognizant of the psychology starting to shift regarding the current market place as I will explain. Last week, anecdotally speaking, my sense was […]
It’s been a while since I’ve mused, and hoping I begin to contribute more regularly again. Let’s discuss 2015 a bit shall we. What a game of f***ery. Traders love to say the volatility provides such a great environment to make quick dough and they are correct; however, much easier said than done. As much […]
The statistics state that we are about to embark on the worst two months of the year for stock returns. I say rubbish. How great would it be if Wall Street was trying to enjoy their Hampton summer homes expecting dreadful market returns in June and July only to be met with fear of missing […]
Well I for one did not come into this morning expecting what we got. If you did, bravo! The good news is that when I got long on Monday, I took most of my profits already except for a couple runners (because you just can’t hold anything in this market). The bad news is I […]
All day long, WTF goes through my head. Musk had a mixed day…..TSLA taken out back, SCTY rises like the sun (except in NYC where it never rises anymore). PCLN almost did a round trip. Get it, “trip.” Ok never mind, lame I know. If you think you know something, you don’t. Or I don’t. […]
When you take a step back and just look at how the markets are trading, it’s actually humorous. For instance, first thing I noticed this morning when we were selling off were the financials were holding up. The only thing I could think was WTF? No one really knows what the F* is going on, […]
Now the third time I got to recycle that picture. It was inevitable that a Tuesday would fail. I’m sure you knew that….I hope you did. Yesterday wasn’t much fun for me. I didn’t enjoy missing out on the bounces, but I stuck to my plan and today was good confirmation of why I have […]
I said it yesterday and I will say it again today….this market is on crack yo! Last year the bulk of my profits came from swings, but in this environment you can make so much intra-day if you play it right and have no overnight risk. And the greatest part is if you miss a […]
This market is on crack yo…..I mean WTF? Decent size gap up today, but took a little over an hour this morning before there seemed to be any conviction as to whether it would hold. I came in flat today, but then seeing the gap hold and internals strong I tried two longs. A short […]
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 […]
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