Mid Day OPEX E-mini Update (SPX)
Happy OPEX ladies, fairly quiet on the home front.. GOOG OTM calls really shot to the moon today after its parabolic AH move following its earnings release. GOOG currently up 59 points. AMZN 52 highs, AAPL over 300, who the hell is buying this junk? Oh well. The Q’s are the only index keeping this ship above the water line. The futures today are fairly quiet 1180 on the upside is resistance, yesterday’s low was 1162.50 todays low was 1163.
Off the open we got the classic shoot to the moon from 1174 to 1179.50, which failed with in classic OPEX FU fashion down to 1164. Right now the ES_F is in a consolidation pattern, which i feel will break down to the 1164 level if 1170 fails. below 1163.75 if we get there momo selling should come in.
remember buy them to sell them, sell them to buy them… and Careful with the cheapo options today, lots of pinning im guessing…. low volume = easier to pin.