DEC 14 2022 Founders Note for: 2022-12-14 06:59 AM EST Macro Theme: Key Levels: >Major, longer term resistance is the 4200 into DEC OPEX >Key Pivot in Dec OPEX: 4000 >Max downsize target into Dec OPEX: 3800 Put Wall >Critical Pivot dates next week:...
Futures are higher to 4045 ahead of this mornings 8:30AM ET CPI print. 4000 is the major pivot area, as its the strike with the largest amount of call + put gamma. Key resistance lines above are 4055 (SPY405) then 4100. A band of support below shows at...
Futures (ESH3) are higher to 3975. Today is anticipated to be a relatively calm day, with an SG implied move of 0.87% (max move, open/close). Major resistance above remains at 4000-4010 (SPY410). Support shows at 3960(SPY395) – 3950, with 3900 major support. The...
Futures have pressed higher to 3980. Key SG levels remain unchanged, with a fairly tight volatility estimate of 0.89%. 4000-4010(SPY400) is large overhead resistance, with 4050 above that. Support below remains at 3960(SPY395) – 3950, with 3900 major support below...
Futures are up slightly to 3940, from overnight lows of 3916. 3950-3960 (SPY395) remains first resistance, with 4000 the major level above. Support is at 3900. Our volatility estimates remain near a benign 1%. Traders have built up this “box” of positioning from...
Futures are again quiet overnight, near 3940. Key SG levels are unchanged, with our one day implied move at 0.95%. Support for today shows at 3910 (SPY390) – 3900, with resistance at 3950-3960(SPY395). Resistance above there is at 4000. The last few days been very...
Futures are holding the key 4000 level after a quiet overnight session. This 4000 level remains support for today, with 3975 & 3960 (SPY395) support below. Resistance above shows at 4051. A push below 4000 places markets back into a mild negative gamma stance,...
Futures are off slightly to 4060. First resistance is at 4074, with major resistance holding at 4100 to 4110 (SPY410). First support shows in the 4060(SPY405) to 4050 band, with 4000 major support. We still favor mean reversion, with declining volatility into 12/12....
Futures were unchanged overnight, holding 4075. Resistance remains at a band above from 4100 – 4110 (SPX Call Wall+SPY410 Call Wall). Above there resistance shows at 4126, however we mark any SPX move >4110 as overbought. Support shows at 4050-4055 (SPY405), then...
Futures are off marginally to 4077, after a quiet overnight session. The 4100 Call Wall is now near term resistance, with 4124 over that. Support today shows at 4055 (SPY405) – 4050 with 4000 being major, longer term support. We now look for volatility to begin...
Futures are quiet, trading near 3970. A multi-day string of key data points begins today with GDP at 8:30AM ET, then Powell speaking at 1:30PM ET. Resistance shows at 4000, then 4048. Support shows from a band near 3960 (SPY395) to 3950, then 3890(SPY390 Put Wall). We...
Futures are up some, trading near 3880. 4000 remains the key strike, which we mark as resistance for today. Above that line, resistance is 4024. Support remains at 3960 (SPY395). Overall we see little reason to shift from our core outlook that tomorrow will spark a...