Feb options support moved from 38 to 37, with only one week to go. Todays volume could switch it back to 38, will have to wait for monday's OI to see.
HUGE activity on 37 puts, 180,000 contracts traded. If the majority of that leaves the OI at that 37 puts, then not it becomes even more bearish.....From an options point of view.
There is a short-term bullish scenario here...with today's activity, that huge volume could be hedging for an ST long play by institutional traders.