SPDR S&P 500 (SPY)

[imiloa]

agreed that retailers likely won't want to hold overnight.

but, empirically, on fridays like this
we've sometimes seen strong late-day rallies into the close.

maybe funds "bargain hunting" based on very long fractal algos.

maybe bot manip to paint an uplifting EOW
so traders have the EOD bounce in their minds all weakend
rather than anxiety about a continued plunge on monday.

regardless of the motivation for ask-whacking
it can ruin your puts or VXX calls in a hurry...

so seems prudent to assume it will happen
and close puts by 13:00-14:00
unless there is a strong downward momo in play.
eg: ADX gapped wide bearish.