Zero Dated Options Activity & Intraday Action - 4/4/24
Comments will be directed to the intraday action and Zero Dated Options Activity. Clearly, there are two sessions today. Open to to 1:00 p.m. EDT. All is good. 1:30 to now down on multiple events Fed Speak, oil up and rumors of military action on Iran. Which $%^*ing one is it many are asking????
In terms of Zero Dated Options, on the call side the 518 to 523 strikes have trade above 100,000 contracts. The most active is 523 call. No way that get exercised. Thos that sold calls cleaned up.
The put side sees the 515 to 523 strike having trade above 100,000 contracts. The most active is the 523 put that is well into the money at $7.17. Traders that sold this are getting crushed along with those puts down to 516. Ass kicking for thought we could not go to $515 today!!!
A rally back to $518 or so would help the situation for those traders. Though we are at $515.25 right now with 45 minutes left in the day I think you could see a rally back to that level.