Replies to post #322857 on SPDR S&P 500 (SPY)

[Sean Portman]

The 327 calls for today went from .02 to .07 in the last 30 seconds of the market open. Like they had a hard time covering and there was a short on the calls. Unfortunately I had sold 2 minutes prior at .03 when I had bought at .04. Had I known I could’ve sold them at .06 easily, I would’ve waited.
Ps. .07 flashed for about 2 seconds then started falling.
I’m not sure if any calls were actually traded at that price or if it was just on the ask

[DowDeva]

Excellent post and I saved it. Yes, you can see it in the 'non' patterns created as the SPY moves up and down. It seems to make no sense until you see it as levels the algos go for in order to remove money from retail traders pockets.

I have noticed that since the algos took over most tried and true classic TA patterns no longer work, in fact, just the opposite. Also, trendlines don't seem to hold very well anymore and I switched to levels.