S&P 500 & Nasdaq Analysis and Trends

[AnderL]

More puts expire worthless again. The writers are making a small fortune on them. A lot of puts written for Dec on the QQQQs low on the 44 strike. Jan is thin for 43 and 44 and in favor of calls.

Jan07 Calls vs. Puts

76,277 @ 42 @ 149,412
279,139 @ 44 @ 82,196
106,575 @ 43 @ 30,007

Getting close to the end of the season. So I'm still guessing that we take a dip into low 44 pick up some put interest and then a run up into blow off leg for Christmas. Figure 45 to 46 range to get all those calls bought up. Then the leg will be done. Dow and S&P and keep going to new highs. NDX can stagnate for 3 months then bring it all down for another 3-5 then big election rally from there.