Outlook
We still expect near term consolidation, if not a shallow pullback. The target price for SPY is 207-208 for this weekly expiration.
SPY Wrap Up
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| SPY 5m |
Another new ATH today. The stanpede continues.
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| $SPX CVI |
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| $SPX STVO |
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| $SPX VTO |
All of CVI, STVO, and VTO showed small pullback today. S&P500 may be digesting overbought condition while it is grinding up.
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| SPY OI 04/22 |
The wall of 210 is still there for this week.
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| SPY OI 04/29 |
Next week is more bullish. Look at those walls.
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| SPY OI 05/06 |
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| SPY DWV 04/22 |
There were some 210C buying in last minutes. Those are "weak" hands so expect they would close the position soon unless SPY runs up really strong.
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| SPY DWV 04/29 |
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| SPY DWV 05/06 |
I think the biggest story today is those call buyers for 05/06.
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| SPY Option Big Trades 04/22 |
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| SPY Option Big Trades 04/29 |
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| SPY Option Big Trades 05/06 |
15:26:02 208.00C x 15000 = $5,565,000.
15:27:05 212.00C x 15000 = $1,845,000.
Those are pretty much big positions and I would like to stick with them. SPY will have one more leg up in next two weeks.
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