SPY faces triple witching today as options and futures expire, potentially amplifying volatility. The host flags massive sell-side prints totaling roughly 15 billion shares and identifies a bearish target at 560 against bullish resistance zones above 582.20.
Chapters
Good morning, traders. It is 5:37 AM Friday, December 20th, and it has been a week. So we've got one pre-market callout today since everything's been so volatile. We have the, uh, SPY, S&P 500 for that. Uh, I do want to show you that the, uh, prints have been coming in absolutely massive. We have 15 million on Wednesday and then another 11.6 million Yesterday, so there's a total of 15 billion in selling, and they might not be done. We don't have trades; we're not closing above any new prints that are coming in. We are below all of these. So let's have a look at the spy. So here are all the major prints: 13 million, 5, 2, 1, 10. This is the one from the other day, and we're below that. So I've got targets down to. All the way down to 560. So let's go have a look here. If we look over here, we're bullish above 582.20. So we need to get above this cam. So we'll try and fill this gap here to 583, 583.63 up here, 584, and then 586.76. I've got the top, which is this pre-market high, I guess. Well, not the pre-market. Pre-market started here. So this would be the post-market high. Which is also a resistance level. So we might bang our head on that since the market is so weak if we do come by, if we do come up that high. Now the other thing I did want to mention, it is triple witching today. So I'm not sure if any of you guys know about that. I just wanted to cover it. Triple witching is the last 60 minutes of the trading day on the 3rd Friday of March, June, September, and December when contracts for stock index futures, stock index options, and stock options expire simultaneously. Um, and so anyway, this can be volatile. So it says the expected expiration date for the 3 might increase trading volume and cause unusual price changes in the underlying assets. So triple witching generate more trading activity and volatility since contracts are allowed to expire, cause buying or selling of the underlying security. Okay, so we just have to be wary of that sort of thing. And those of you that are following Moby, When the prints are coming in, if they're all zeros, say 1,500,000, there's a high chance that they're related options contracts. And we'll be able to see some of those on when we look down here on the print lookup, you'll see something like this qualified contingent trade, something like that. But sometimes stocks or options are exercised to take ownership, you know, things like that. So there's, there is market volatility. I wanted to let you know about that. Okay, so don't forget to like and subscribe. Hopefully you had a good trading week, although it's been quite bearish. And happy trading everyone. We'll see you this afternoon.
