04/12/2021 Live Update

[Cobra]

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Still the same: Bears simply keep trying, there'll be a time they're finally lucky.

Flat open, likely just a range day.

[JFR]

SPY 15. Aside from some chop, relatively quiet.

[JFR]

ES daily. Forming a base. At the top. Well above the EMA 20.

[JFR]

ES Small gap down. Filled.

[BullBear52x]

sell day, find excuse to sell.

[ccash04]

Do people know that market is open today? This is like premarket volume on SPY, watch out for quick moving moves.

[Al_Dente]

Aggressive put buying right out of the gate

[JFR]

IWM 5 min. Dropping like a stone.

[Trades w 2 Cats]

Do people know that market is open today? This is like premarket volume on SPY, watch out for quick moving moves.

Carnac.jpg (15.91 KiB) Viewed 4582 times

[JFR]

DIS is getting beat up today.

Back later ...

[Cobra]

Members only update at 10:08 am
http://www.cobrasmarketview.com/2021/04 ... ay-update/

[Al_Dente]

“CEO Summit on Semiconductor and Supply Chain Resilience”
WH today
As of midday Friday, 19 major companies had agreed to send executives.
Reuters reported earlier the summit is expected to include General Motors Chief Executive Mary Barra and Ford Motor Chief Executive Jim Farley.
Also taking part are AT&T, Samsung, Alphabet, Dell Technologies, Intel Corp, Medtronic, Northrop Grumman, HP Cummins and Micron.

[Cobra]

Higher low or slightly lower low then reverse up? Anyway, I think probably the low was in or very close. It's a range day.

[Al_Dente]

If that was a little inverse H&S, and if I drew the neckline properly
the target is a HOD

[ccash04]

Not really sure what is holding market up here, just not real selling? So grind up or just ping around the rest of today?

[Al_Dente]

Aggressive put buying right out of the gate

412puts.png.jpg

Note: what I called “put buying” this morning,
zh calls shorting puts,
and spotgamma says there are more puts “sold to open” than “bought to open” in index options.
"as SpotGamma points out, the OCC data we sent out last night shows that there is a very large short put position on in index options."
https://cms.zerohedge.com/s3/files/inli ... k=uhzigZAp

[ccash04]

Aggressive put buying right out of the gate

412puts.png.jpg

Note: what I called “put buying” this morning,
zh calls shorting puts,
and spotgamma says there are more puts “sold to open” than “bought to open” in index options.
"as SpotGamma points out, the OCC data we sent out last night shows that there is a very large short put position on in index options."
https://cms.zerohedge.com/s3/files/inli ... k=uhzigZAp

In order to really juice returns, one would turn around and buy calls with all the juicy premium collected on those put sales.

[Al_Dente]

Aggressive put buying right out of the gate...

Note: what I called “put buying” this morning,
zh calls shorting puts,
and spotgamma says there are more puts “sold to open” than “bought to open” in index options.
"as SpotGamma points out, the OCC data we sent out last night shows that there is a very large short put position on in index options."
https://cms.zerohedge.com/s3/files/inli ... k=uhzigZAp

In order to really juice returns, one would turn around and buy calls with all the juicy premium collected on those put sales.

""buy calls with all the juicy premium""
Boss: what symbol do you use for buying calls on index options?

[Trades w 2 Cats]

As I think I understand it (and you know I will have it figured out when it no longer makes any difference) lots of call buying with small volatility (Vix) means more liquidity in the market as the dealers are buying in a concentrated area (remember their required 10 percent hedge) so we should be reading about options gamma pining. Of course opposite when it is puts as they must short the underlying. Either way low volatility means they cannot shift risk to the VIX derivatives.

Something else I don't fully understand (ask my wife what I don't know ) is the big move up in Tesla for earnings release. Since it is such a big part of the index it has to have an effect and who knows what arbitrage games the smart boys are playing with this.

[Cobra]

Members only update at 12:18 pm
http://www.cobrasmarketview.com/2021/04 ... ay-update/