timwest

SPY options expiration

AMEX:SPY   SPDR S&P 500 ETF TRUST
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This is the last day of trading for February options. The red circles are the expirations back to January 2011. You can see that the market is at its highest level here. The market jumped right through a multitude of expirations. I hope you all enjoy seeing the market visually displayed in a different way to reflect the most important price every 30 days or so. Expirations certainly define each individual stock and then also it can define the overall index too as managers hedge their risk or their exposure based on their optimism/pessimism. I see support down at 134 and 132. Cheers. Tim Fri , Feb 17, 2012 10:55AM EST
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Comments

This this interesting chart, thank you for creating it. But frankly i can't see the real correlation between the price and expirations. Does this pattern exist in your opinion? If not, what is the value of this chart.
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timwest charttrader
The expiration levels create support/resistance and are a major level of "market memory" and are therefore very useful to me.
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Are you expecting major downtrend or just correction to the ~133 level?
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