ES Journal Archive (2011)

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Quote from volente_00:

135 is the high magnet to attract to
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really??? well, i certainly respect your experience with the whole option-pinning thing but for the life of me i can't see how you're getting this ... looks to me like major put support starts at about 130 and major call resistance at about 131 ... what am i not seeing here?
 
Quote from tortoise:

really??? well, i certainly respect your experience with the whole option-pinning thing but for the life of me i can't see how you're getting this ... looks to me like major put support starts at about 130 and major call resistance at about 131 ... what am i not seeing here?
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this is not about pinning. It is about moving to the outliers and mean reversion. Indicates a cap around 135 and then reversion back to 130-131 for front month.
 
1330 is being defended by large orders every time it's touched.

That makes sense -- easy to keep the market up under low volume conditions such as these. To that end, I wonder if this is the launch pad for the next leg up ...
 
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