ES Journal - 2021/2022

[Buy1Sell2]

https://www.bloomberg.com/news/arti...ered-65-million-on-stock-rebound-into-holiday

While U.S. stocks fell Tuesday ahead of what’s expected to be a hawkish Federal Reserve policy meeting, one investor just bet $65 million on a quick market rebound. The trade saw someone purchase roughly 20,000 call spreads that are linked to the S&P 500 and expire right before the Christmas holiday. The transaction involved selling calls with a strike price at 4,750 to fund bullish options exercisable at 4,650.

party on...

If it's a net credit, then it could very well be a play for the market to drop as well.

 

[mervyn]

If it's a net credit, then it could very well be a play for the market to drop as well.

I read as that guy spent 65m as debit spread. I am pretty sure 100 points spread can’t net credit.

 

[Buy1Sell2]

I read as that guy spent 65m as debit spread. I am pretty sure 100 points spread can’t net credit.

I'm sorry. What I saw was that calls were sold to fund the buys. ===Didn't mean to misunderstand.

 

[ElCubano]

Bring the “coquito”

 

[mervyn]

long 4612

still holding, 4680 perhaps

 

[Laissez Faire]

Not a buyer in sight so far. If yesterday's LOD doesn't hold - watch out below. We can easily see a good drop today.

 

[Laissez Faire]

Buyers showed up!

Let's see if we can trade above 4620 and next take out the HOD from here. If not, possibly stuck in this range until FOMC.

Momentum stalled as I was typing this. Range bound action still...

 

[Laissez Faire]

4660 - 70 if this get legs, but the day is still young. Too early to celebrate.

 

[vanzandt]

We're going down.
Maybe a lot.
I'd take 4624 and get out.

 

[wiesman02]

And on the 7th day, the lord sayeth “let it squeeze!”