Zero Dated Options Activity & Intraday Action For 4/18/24

Today is typical of the recent action the past two weeks. Big moves up and big moves down. The proxy for the S&P 500 is SPY. It trades at 1/10th of the value of the S&P 500 that currently is right around 5,000 so SPY is at 500.

The opening 5 minute range on the S&P 500 via SPY is $502.08 to $501.09. SPY ran to $504.13 before hitting the wall. It then f…