The S&P 500 Index has been ranging sideways since the US Election gap up on November 6th 2024. SPX support is by the October 2024 high 5850 area. Resistance is by the 6050 zone, even though there was an attempt to hit 6100 in the beginning of December before the FOMC rate cut and government shutdown fear drop on December 18th. Trading a range simplifies long and short entries and exits. However, it only works while the trading range continues. If there's a breakout or breakdown then this range will be invalidated. For the time being, my trade idea is straightforward on SPX. Go long at 5850 and go short at 6050. I think the market is in wait and see mode until Mega Cap earnings in a few weeks. A note of caution, options data is currently extremely bearish through the end of this month.
Mega Cap earnings dates:
1/28
MSFT 4:05pm
GOOG 4:05pm
1/29
TSLA 4:05
1/30
AMZN 4pm
META 4:05pm
AAPL 4:30pm
SPX options data:
1/10 expiry
Put Volume Total 152,200
Call Volume Total 69,422
Put/Call Volume Ratio 2.19
Put Open Interest Total 425,831
Call Open Interest Total 108,857
Put/Call Open Interest Ratio 3.91
1/17 expiry
Put Volume Total 129,140
Call Volume Total 97,195
Put/Call Volume Ratio 1.33
Put Open Interest Total 1,917,625
Call Open Interest Total 1,013,708
Put/Call Open Interest Ratio 1.89
1/24 expiry
Put Volume Total 11,864
Call Volume Total 8,911
Put/Call Volume Ratio 1.33
Put Open Interest Total 156,526
Call Open Interest Total 46,537
Put/Call Open Interest Ratio 3.36
1/31 expiry
Put Volume Total 36,487
Call Volume Total 12,299
Put/Call Volume Ratio 2.97
Put Open Interest Total 449,738
Call Open Interest Total 116,092
Put/Call Open Interest Ratio 3.87
Mega Cap earnings dates:
1/28
MSFT 4:05pm
GOOG 4:05pm
1/29
TSLA 4:05
1/30
AMZN 4pm
META 4:05pm
AAPL 4:30pm
SPX options data:
1/10 expiry
Put Volume Total 152,200
Call Volume Total 69,422
Put/Call Volume Ratio 2.19
Put Open Interest Total 425,831
Call Open Interest Total 108,857
Put/Call Open Interest Ratio 3.91
1/17 expiry
Put Volume Total 129,140
Call Volume Total 97,195
Put/Call Volume Ratio 1.33
Put Open Interest Total 1,917,625
Call Open Interest Total 1,013,708
Put/Call Open Interest Ratio 1.89
1/24 expiry
Put Volume Total 11,864
Call Volume Total 8,911
Put/Call Volume Ratio 1.33
Put Open Interest Total 156,526
Call Open Interest Total 46,537
Put/Call Open Interest Ratio 3.36
1/31 expiry
Put Volume Total 36,487
Call Volume Total 12,299
Put/Call Volume Ratio 2.97
Put Open Interest Total 449,738
Call Open Interest Total 116,092
Put/Call Open Interest Ratio 3.87
Ghi chú
Ghi chú
Ghi chú
Ghi chú
Look for a pullback on SPX before mega caps earnings.Ghi chú
Trading indicators:
tradingview.com/u/Options360/
tradingview.com/u/Options360/
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Trading indicators:
tradingview.com/u/Options360/
tradingview.com/u/Options360/
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.