Zero Dated Options Activity - 3/13/24
Monday was like waterskiing on a lake with no waves, like glass. Tuesday was quite the opposite as the trading range was from a low of $510.88 to a high of $517.38. Today is back to Monday and no action as the range for the day is$515.67 to $517.29 which is $1.62 or 0.30%.
Early in the trading session, SPY traded to a low of $515.67 at 10:00 a.m. EDT. Then SPY rose to a peak of $517.29 at 1:30 p.m. EDT.
So there are no Call contracts with a value that are in the money from $516 to $520. The only downside pressure would be a move under $516. A close around $516 would make the Zero Dated Options Traders go home happy. It is interesting that in the strikes that have traded more than 100,000 contracts calls are more active than puts 1,562,514 to 1,303,919.
At 3:27 p.m. EDT we got a quick downside move to $514.49 and as rebounded to $515.75 six minutes later. This is odd action as action is usually orderly into the close. There is a story here.