🔶 SPX – 6800 Put Support Holds, Pricing Skew Mean-Reversion 🔶
On the daily chart, SPX found clean support at the 6800 put level, tied to the Jan 23 expiration. That level absorbed yesterday’s downside pressure, and price has been rotating higher since the bounce. 🟢
🔶 Options Structure 🔶
From an options structure perspective, the range is now clearly defined:
One of the most important signals comes from the Options Oscillator. Yesterday, put pricing skew reached a historically extreme level, indicating significant put overpricing relative to calls. Since then, we’ve seen a sharp mean-reversion in skew, suggesting that downside hedging pressure is easing.
That said, caution is still warranted. SPX remains below the High Volatility Level (HVL), a regime where price action tends to be faster and more reactive, with elevated volatility. 🔵
If 6800 continues to hold, the next key test is the HVL zone around 6895. A reclaim above HVL would shift the regime toward more controlled price behavior and opens the path toward 6915 call resistance as the next upside reference. 🟢
🔶 Key Levels to Watch 🔶
As long as price holds above 6800, the structure favors continued upside rotation, but sustained strength likely requires a reclaim above HVL. Failure to hold 6800 would quickly reintroduce downside volatility.
On the daily chart, SPX found clean support at the 6800 put level, tied to the Jan 23 expiration. That level absorbed yesterday’s downside pressure, and price has been rotating higher since the bounce. 🟢
🔶 Options Structure 🔶
From an options structure perspective, the range is now clearly defined:
- 6800 acts as the primary put support 🔴
- 6915 marks the next call resistance on the weekly expiration 🟢
One of the most important signals comes from the Options Oscillator. Yesterday, put pricing skew reached a historically extreme level, indicating significant put overpricing relative to calls. Since then, we’ve seen a sharp mean-reversion in skew, suggesting that downside hedging pressure is easing.
That said, caution is still warranted. SPX remains below the High Volatility Level (HVL), a regime where price action tends to be faster and more reactive, with elevated volatility. 🔵
If 6800 continues to hold, the next key test is the HVL zone around 6895. A reclaim above HVL would shift the regime toward more controlled price behavior and opens the path toward 6915 call resistance as the next upside reference. 🟢
🔶 Key Levels to Watch 🔶
- 6800 – put support / downside anchor 🔴
- 6895 (HVL) – regime pivot 🔵
- 6915 – next call resistance (weekly) 🟢
As long as price holds above 6800, the structure favors continued upside rotation, but sustained strength likely requires a reclaim above HVL. Failure to hold 6800 would quickly reintroduce downside volatility.
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✔ GEX ✔ IVRank ✔ CALL/PUT skew ✔ Volatility✔ Delta curves
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Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Boost up your charts with Options PRO!
REAL Options metrics for over 200+ liquid US symbols:
✔ 𝗔𝘂𝘁𝗼-𝗨𝗽𝗱𝗮𝘁𝗶𝗻𝗴 𝗚𝗘𝗫 𝗹𝗲𝘃𝗲𝗹𝘀
✔ GEX ✔ IVRank ✔ CALL/PUT skew ✔ Volatility✔ Delta curves
👉 7-day TRIAL 🌐 TanukiTrade.com
REAL Options metrics for over 200+ liquid US symbols:
✔ 𝗔𝘂𝘁𝗼-𝗨𝗽𝗱𝗮𝘁𝗶𝗻𝗴 𝗚𝗘𝗫 𝗹𝗲𝘃𝗲𝗹𝘀
✔ GEX ✔ IVRank ✔ CALL/PUT skew ✔ Volatility✔ Delta curves
👉 7-day TRIAL 🌐 TanukiTrade.com
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.