2016/02/03 SPY Options Wrap Up

SPY gapped up this morning but sold off sharply, then responsive buyers showed up. Spirits of BTFD!

SPY finished just above 5SMA and it is encouraging. Can I say bear trap?

Option activities were also bullish, at least in near term.

SPY OI 2016/02/05

OI is still skewed to call side.

SPY DWV 2016/02/05

Call buying were a bit stronger than Put buying for this week. SPY might pin at current level (190-191ish)

SPY DWV 2016/02/12

There was strong call buying activities in next week.

There was active Put buying for monthly. At this moment, I can't determine if those Put were Buy to Close or Buy to Open. We will see next morning when CBOE releases latest Open Interest.

Overall, I'm still bullish for near term as well as medium term.

Those charts are captured from OptionM8 App.