2016/02/11 SPY Options Wrap Up

SPY gapped down once again then curved out the loss with beautiful positive divergence, but couldn't close the gap. It didn't even touch the 5SMA.

SPY 5m

$TICK

$TICK 1min shows there were heavy selling pressure <-1000 tick by 14:30, then the market switched to the buy side > +1000 tick. Those bears are preparing for exit? 

SPY OI

Now those 185P or 183P sellers are under pressure.

SPY DWV

However, there are plenty of new puts were bought before tomorrows expiration. Those puts are weak and they need to be sold quickly no matter of profit taking or stop loss. SPY would pin at 187ish area, IMO.

Those charts are captured from OptionM8 App.