2016/02/09 SPY Options Wrap Up

SPY gapped down (again) and choppy.

Good news: Higher high and higher low.

Bad news: SPY finished underneath declining 5SMA.

SPY OI 02/12 

SPY DWV 02/12

The market is already too short yet we saw high put/call ratio this week. Full Wagon Theory?

SPY DWV 02/19

On next week, we saw big put selling that could create support.

There were 8000x185.00P selling at 13:30:25 and it was almost $3M. There was another big 190P selling on 02/02, so I would say bottom may be in.

Those charts are captured from OptionM8 App.