Replies to post #59875 on Options Wonderland

[Fox13]

On the long run it could go lower. But right now I am, obviously, trying to guess a support before OpEx. After that…a different game.

[Fox13]

52 wks, equinoxes based Gann Squares. I built it some time ago.
For the record: I am not an astrology fan…
It says that support might be in the 1056 - 1062.5 area - also valid for OpEx..

[leemalone2k3]

Typically arbitrage shorts stock and goes long futures at the beginning of each expiration cycle, then they cover their short stock the first few days of expiration week while rolling thie futures contacts into the next cycle. This short covering usually causes stocks to rise the first few days into exp week. Will be interesting to see if it happens this time. Aug is also usually pretty volatile going into expiry.