With you on both counts, I feel it is. Apologies for the plastering the charts. "I" use these to help me spot the short side I want to open.
Based on the past week, options traded were put heavy and lower strike. Today's data seem to imply a subtle shift back to calls , strikes slightly higher as well, overall range clustered between 700 and 800. I should have hit 690 Tuesday but felt 720 was relatively safe. I didn't close the -720/+670 today... riding the wire looking for a spike and opportunity to close at any sight of green.
The yellow line tracks daily billions traded short or long. Summing the values from today back in time, interestingly enough, April 1st is where the sum is positive, which is also the last near term *highest* close. 3/15 trough 4/1 was mostly call heavy. I have a lot to learn but am beginning to see how the options market and MM drive price.
*** don't use this insight to trade ***
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