The first Tuesday after monthly options expire there will be some price movement for the entire market due to option T+1 and Share T+2 settlement from Friday's monthly expiries. As always, this will probably be a single day event.
There's a possible downside of $19-21 before anything, or this may be the bottom, up to you to decide. I only know that there will be movement on Nov 1, no idea what happens before or after that. I don't know if this is the correct buy in area, i only know the price goes up on Nov 1. If i knew what happens beforehand i'd be rich.
I'm more confident in the 1'st of Nov than i am for Nov 22.
Comment
⋅
Beware of a breakdown of the price before Nov 1. It's usually a nice way to shake out early buyers. Don't expect the breakout after Nov 1 to continue, it'll likely be a fake breakout too.
So, fake breakdown and fake breakout. Play safe.
Comment
⋅
It begins. I can see this lasting today and tomorrow. It should fizzle the day after tomorrow.
Comment
⋅
This is it, it's either liftoff at these levels or it's done.
Comment
⋅
Nope, it's done. Come back and play again on the next cycle.
Comment
⋅
I might not make a new post for this next cycle. For once i want to keep everyone in the dark and see how people not knowing affects the cycle.
I actually agree. I am getting a similar vibe to BBBY run this time though. Reason why is from my indicator, its above the trendline and green now and cloud has flipped over to green, not to mention it is ready for a squeeze based on TTM indicator (3 red dot and 4 orange dot so far on daily). BBBY had a similar setup before the squeeze but was red dot. Orange dot > Red dot btw on TTM. GME Chart - imgur.com/a/FwW9Y4r / BBBY Chart - imgur.com/a/HIxQOIi
jdscott1224
⋅
is this move done ?
Akksujean
⋅
Thanks as always but wondering about an update on this post with GME up about 9.5% today on OPEX. Are you still expecting continuation/more on the 1st?
leenixusu
⋅
@Akksujean The October SLD cycle is from the 25th Tuesday till next week Wednesday. The big spike up or down is almost always on the Tuesday after the 3rd Friday of each month like it happened this week... This is due to the options expiring on the 3rd Friday of the month.
Then theres one more on the first Tuesday of the month e.g on the 1st of Nov due to end of month expiring options. Luckily both the SLD and end of month expiring and settlement of options are overlapping next week on Tuesday.
There should be bigger than normal movement on the 1st of Nov.
arielestulin
⋅
@leenixusu the bigger move is up? or could also be down.
Gork_Sea
⋅
Isn't the monthly options expiry for Oct this friday?
cdn.cboe.com/resources/options/Cboe2022OPTIONSCalendar.pdf