depends on how many puts are wrote into the down move. Watch for interest to jump and the squeeze will follow. 129 is a key level. Lot of support between 1270-1290. If I had to venture a guess I would say we could trade down to 127 to suck in premium Keep in mind the market is set up to screw the majorityQuote from tortoise:
To my reckoning, SPY open interest at the moment suggests 133 or so at opex. Volente, would you agree?
[edit: having said that, this market's looking weaker and weaker by the minute ....]
Quote from volente_00:
Your feelings should have no place in your trading
Quote from volente_00:
depends on how many puts are wrote into the down move. Watch for interest to jump and the squeeze will follow. 129 is a key level. Lot of support between 1270-1290. If I had to venture a guess I would say we could trade down to 127 to suck in premium Keep in mind the market is set up to screw the majority