Grinch drop, Santa pop

12月3日

SPY is at it's 2 year trend channel resistance level. There's very little upside reward left. There's a greater downside risk. The Grinch may try to steal Christmas with a temporary SPY drop towards support. But then a Santa Claus rally will pop SPY back up to it's resistance level.

SPY 2 year trend channel levels:
resistance = 605
pivot = 585
support = 565

trade ideas:

1) collar strategy
hold 100 shares
sell 585 call
buy 605 put

2) buy 605 put

3) short call spread
sell 585 call
buy 605 call

4) long put spread
buy 605 put
sell 585 put

SPY options data:

12/6/24 expiry
Put Volume Total 219,329
Call Volume Total 125,297
Put/Call Volume Ratio 1.75
Put Open Interest Total 750,130
Call Open Interest Total 233,054
Put/Call Open Interest Ratio 3.22

12/13/24 expiry
Put Volume Total 69,042
Call Volume Total 43,893
Put/Call Volume Ratio 1.57
Put Open Interest Total 317,687
Call Open Interest Total 228,869
Put/Call Open Interest Ratio 1.39

12/20/24 expiry
Put Volume Total 336,702
Call Volume Total 139,171
Put/Call Volume Ratio 2.42
Put Open Interest Total 3,273,537
Call Open Interest Total 1,426,800
Put/Call Open Interest Ratio 2.29

12/27/24 expiry
Put Volume Total 13,062
Call Volume Total 14,931
Put/Call Volume Ratio 0.87
Put Open Interest Total 72,224
Call Open Interest Total 59,538
Put/Call Open Interest Ratio 1.21

1/17/25 LEAPS
Put Volume Total 191,268
Call Volume Total 63,574
Put/Call Volume Ratio 3.01
Put Open Interest Total 2,376,812
Call Open Interest Total 855,976
Put/Call Open Interest Ratio 2.78

3 日前

トレード終了: 利益確定目標に到達

SPY puts short trade closed today. Now going long SPY for 12/24 expiry calls