Todays price action was something down almost -2% to +.25% red to green, I sold to fast like always. The fed still sounds hawkish Daly she came out adamant about raising rates. The ISM/PMI came in pretty much unchanged so with this info and fed talk right at 7am PT the market went down hard. Pulled back to 370 and change. Then someone made a bet that made the market rally that’s the rumor. 20,000 calls expiring in October with a strike of 4,500 Spx and 14,000 calls expiring in March of a strike of 4,300 Spx a total package of 30 million. Doesn’t seem like much to me but hey it sparked the rally today according to Wells Fargo. I’m personally thinking we might see a gap up tomorrow everyone is getting risk on for the time being. I’m a day trader so it really doesn’t matter to me but if you’re swinging options please be careful out there the dollar is getting ready to run again most likely next week. As always trade what’s in front of you good luck
Comment:
The daily chart for spy should show a outside bar today but the candle from yesterdays gap up has a long wick that should not be there it’s a mistake or glitch on TradingView part so a outside with a green close is pretty strong fyi
