Looks like CALLs were the hot commodity yesterday. Look at those $480 strikes I have had my mouse hanging over in each screen grab. Funny how I knew they would end the PUT bulge with a large sell of CALLs at that price. The MMs already have those shares so they are going to sell the strike in both directions and profit on the fees and premiums.
Tuesdays which you should recognize from yesterdays post....
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Today OI which remember shows the work of yesterdays trading.
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CALLs gone wild day yesterday. Everyone must have been feeling bullish... boy that mood changed this morning for everyone with a few articles mentioning revenue guidance of assorted choice picked companies. It seems too contrived. I never understood the drop when an article mentions a few companies forecasting lower revenue forecasts because all companies drop, even those that are showing, forecasting, and proven revenue growth. It always sounds like a setup so the funds can buy more shares at lower prices.... back to TSLA option moves...
Note the $420 increase in CALL activity. I bet they are selling lots of those this morning. This is where I keep saying max pain changes daily. While I mentioned $425 the other day, I bet they move it under $420 after today. This market drop is too perfect. They will probably be able to round out those lower end PUTs too. This is THEIR buying opportunity to get cheap shares to cover the $420 CALLs (and others) they plan on being in the money this Friday. Not that I will say it will surely be above that because Macros are in the pooper and Macros trump all. I think Friday is expected to have a higher SP... we shall see.
Those are my guesses for the day. Don't trade on anything mentioned here.