Options Spy | S&p 500 defensive bullish, Nasdaq expected volatility
US Major Stock Index Futures All Rise
According to IDC data, Apple's iPhone shipments in the first quarter fell 9.6%, with a 17.3% market share, ranking second. Tesla issued a company-wide email, announcing a 10% global workforce reduction. Reports suggest Intel may launch a Chinese special version of the Gaudi 3 AI accelerator chip. News also indicates that Richard Liu may personally livestream, with JD.com responding that they are preparing and will appear in a new form.
In the short term, the S&P 500 index is expected to remain below 520. The major options trades include an April 17 expiry 525/520 call spread, suggesting the index will top out around 520 that week.
For the medium term, the S&P 500's downside may be limited. The May 17 expiry 486/489 put spread strategy implies a drop of no more than 5% by expiration.
For the Nasdaq 100 options, the April 19 expiry 441 calls and 427 puts show selling as the dominant flows, signaling a narrow trading range of +/- 3% for that day.
Details:
The $SPY$ options indicate a slightly bullish trading bias overall, with call selling dominating flows while put open interest remains elevated versus 52-week averages.
The most active new $SPY$ call is the 04/17 525 strike$SPY 20240417 525.0 CALL$ with 41k contracts added. For puts, it's the 05/17 486 strike $SPY 20240517 486.0 PUT$ at 40k new positions.
The largest $SPY$ new put trade is a call spread, buying the 04/17 525 calls $SPY 20240417 525.0 CALL$ and selling the 520 calls$SPY 20240417 520.0 CALL$ , expecting $SPY < 520 by April 17 expiry.
The two largest $SPY$ new put trades are put spreads, selling the 489 puts while buying the 486 puts with the same May 17 expiry, strategizing for a downside of no more than 5% by then.
For $QQQ$, the most active new call is the 04/19 441 strike $QQQ 20240419 441.0 CALL$ with 26k contracts added as sells, suggesting rangebound trading ahead of that expiry. The biggest new $QQQ$ put is the 04/19 427 strike $QQQ 20240419 427.0 PUT$ with 9,463 contracts sold, implying <3% downside into that day.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
- qwertd·04-15The market is showing some interesting moves.LikeReport
- cheerzy·04-15Glad you share all these stock and options updates.LikeReport
- bumpy·04-15👍LikeReport
- KSR·04-16👍LikeReport