The best case here would be a gap fill (look to the far left)and a Monday EoD close around 380. Perfect bear trap
Not
Closing half of my SPY calls @ 0.70 got a free ride to 390-395
Not
Closed rest for 1.20. QQQ has some room to go, so my guess is SPY will churn around this area at worst (for us) or makes a dip for us to enter calls again.
I had a brain fart and thought yesterday was Thursday. What we think happened yesterday: zero GEX was at 389ish and some heavy Put OI was around that level, resulting in de-risking, which added to the downward pressure.
View for today; why i bought calls yesterday thinking it was Thursday: Zero GEX SPY 3/5 Mar moved from 388 to 386. We have Fed talking heads today. Expecting SPY to revisit this level. I'll be looking for a SPY session dip to enter calls (preferably after 10am)
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