Next week from Wednesday to Friday, the top 30 NSCC members (Biggest banks) need to provide liquidity to the NSCC for option clearing.
Typically during the week that this occurs (next week) in 3/4 cycles, next week will see a drop in SPY and most indexes as well as their constituent stocks.
This drop is very to include GME as well. So far in 1/4 cases (Last November) this did not happen and instead GME was very bullish for what November's equivalent that is next week.
I've taken profit on my GME cycle calls and plan to re-open them some time mid-late next week during the dip. During this time i've already grabbed SPY puts due to the expected index drop during the SLD/Supplemental Liquidity Deposit banks need to make for the 17 Feb - 02 March OPEX/Option Clearing cycle. From the behavior of the market/GME/SPY etc, it "feels" like we are in a proper GME cycle and that we should expect that options being cleared that will hit the market on 23 Feb will cause GME to reach the $180 PT or more.
This is not 100% for sure of course as there has been one out of 4 instances where this has actually failed. I'm going with the odds that SPY will drop, GME will drop.
Good luck to whatever you decide to do. The fact is that next week is the SLD and the week after is OPEX. I'm gonna roll with it and expect that the whole market will behave as it SHOULD during this period which is to "correct" a little, see VIX pump next week & all stocks down with an eventual recovery around Thursday-Friday (hence where i'll be re-entering GME calls).
Typically during the week that this occurs (next week) in 3/4 cycles, next week will see a drop in SPY and most indexes as well as their constituent stocks.
This drop is very to include GME as well. So far in 1/4 cases (Last November) this did not happen and instead GME was very bullish for what November's equivalent that is next week.
I've taken profit on my GME cycle calls and plan to re-open them some time mid-late next week during the dip. During this time i've already grabbed SPY puts due to the expected index drop during the SLD/Supplemental Liquidity Deposit banks need to make for the 17 Feb - 02 March OPEX/Option Clearing cycle. From the behavior of the market/GME/SPY etc, it "feels" like we are in a proper GME cycle and that we should expect that options being cleared that will hit the market on 23 Feb will cause GME to reach the $180 PT or more.
This is not 100% for sure of course as there has been one out of 4 instances where this has actually failed. I'm going with the odds that SPY will drop, GME will drop.
Good luck to whatever you decide to do. The fact is that next week is the SLD and the week after is OPEX. I'm gonna roll with it and expect that the whole market will behave as it SHOULD during this period which is to "correct" a little, see VIX pump next week & all stocks down with an eventual recovery around Thursday-Friday (hence where i'll be re-entering GME calls).