It has been awhile since I have published an updated options expiration chart, but thought it was worthwhile to show you.
It is interesting to see how the big drop in June held the March and April expiration price level nearly to the tick.
If you scroll back in time, you can see the comments I have made in the past about "expirations" and the logic behind the support/resistance coming from "collective market memory".
The blue-lines extend forward from the expiration day so it is more clear than the red-lines I used before this year.
Cheers.
Tim 11:12AM EST, Friday August 16, 2013
Comments
timwest
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The SPY has rallied back to it's July expiration price at 169. Couple this "market memory level" with the rally we have had off of the spike in VIX of 5 points and you have a natural place for the market to stall out here at 169. 10:06AM EST, Thursday 9/12/2013
LetErRip
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Very good points made! Thanks for bringing to our attention!