πŸ•΅οΈβ€β™‚οΈ I SPY 6/1 Read πŸ”­πŸŽ―

SPY SG – Bullish – Neutral

  • Gamma Index: 0.03 (low volatility) (Large positive reading – play smaller moves in markets, likely that current prices are well supported by options market maker hedging.)
  • Vol Trigger: Unchanged
  • Abs Gamma Strike: Unchanged
  • Gamma Notional: Increased to 117 (a stock has a larger call gamma position (if figure is positive, A large positive gamma position infers lower volatility in the underlying.)
  • Put Wall Support: Decreased to 410 (if it shifts to a lower strike it could be a bullish indication.)
  • Call Wall Strike: Unchanged
  • Gamma Tilt: Increased to 1.03 (If the ratio increases it’s considered a bullish signal)
  • Net Delta: Decreased to 190k (positive delta position infers options market makers have a net long hedge)
  • 25d risk reversal: Decreased to -0.07 (When the ratio shifts towards 0 it indicates call demand, and away from zero indicates traders are placing a higher price on put options.)
  • Topp Abs Gamma Strikes: [425, 421, 420, 415]

https://preview.redd.it/g22jnzbphn271.png?width=2140&format=png&auto=webp&s=e86a205a4d2dcda4a71aef326720fc4237004067

TA Notes:

  • Support area 421.30 – 419.74
  • Resistance 422.82 – 421.11
  • Bullish 🎯 – 423.36 – 424.99 – 425.95
  • Look for strong resistance at 425 (call wall)
  • Bearish 🎯 – 419.03 – 416.06
  • Look for 20, 50 MA support test before more upside IMO

https://preview.redd.it/pcs67wzwjn271.png?width=2998&format=png&auto=webp&s=727a977a2ca6dcba87dfb00a71c272d64f9ba23b

15m RSI

  • Broke out of downtrend on RSI
  • Look for 77.53 – 87.99 if bull
  • Bears need <53.14 range.

https://preview.redd.it/zh2906btkn271.png?width=2998&format=png&auto=webp&s=4fd822a5158bd1f6272c11ccfc36d6d4ac58b6e3

1d

  • Broke heavy resistance
  • Look for a 420.74 support test today IMO. Lets see.

https://preview.redd.it/gmxbygx6ln271.png?width=3400&format=png&auto=webp&s=64549e3425615c8169e582d6d2ab0653890856f7

1d RSI

Bulls need > 58.71

Bears need < 58.71

https://preview.redd.it/csipedonln271.png?width=3400&format=png&auto=webp&s=ae2ae32c9d79b3aa5142dc1cc0464c346f6370a6

SPY v VIX

  • Bears need >17
  • Bulls need <17

https://preview.redd.it/pe26iuzwln271.png?width=3400&format=png&auto=webp&s=b3136b8e82913f1af122c1bb5bc9491041d37421

Thanks for reading,

NightMan

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