SPDR S&P 500 (SPY)

[risk on]

Today most certainly short squeezing , as someone said that call sellers were on the hook as max pain was a much lower price point. That’s right . They got caught short and had to scramble to either make the contract not ITM, which clearly didn’t work, and if so then they have to find shares to fulfill their obligations. So, wait on higher price or buy now, obviously get them immediately , which shoots price further up via demand, forcing other call sellers at higher X price points to scramble for their inventory needs , driving price higher, which forces the next .... so on and so forth.

This wasn’t all squeezing , but certainly a good deal imo . Also, all the way today lots and lots of red in those volume bars, offloading of positions (?) maybe , but s very similar picture to what we saw just prior to the Feb free fall