Replies to post #380018 on SPDR S&P 500 (SPY)

[2H2]

Cup/handle on daily.

[imiloa]

re: Op ex at its best.

max pain was 472 yesterday.
so op-ex play would have been close around 472
depending on the options opened yesterday.

imo, yesterday's afternoon rally was concerted fund manip
that outweighed the profits deep pockets would have gained
from flushing open options at max pain.

maybe the funds loaded calls on the drop this week
and with their equity inventories down to 53%, per naaim data,
https://www.naaim.org/programs/naaim-exposure-index/

they used bots to buy en masse to run it up
to profit from the calls
as well as being able to distribute that shares
they bought on the way up
at higher prices today
and maybe into next week?

far too many possible scenarios to speculate with confidence.
the only thing that seems clear to me
is that yesterday's afternoon rally
was not a organic market behavior.