๐จ $SPDR S&P 500(SPY.US) JULY OPEX SETUP ๐จ
Entry is Key! Maybe after CPI PPI Data June 10th/11th.I've been digging through the $SPDR S&P 500(SPY.US) option chain and something interesting is developing...๐ Current $SPDR S&P 500(SPY.US): $756.48๐ฏ Fib 2.0 Extension Swing Low: $630 Swing High: $697 Fib 2.0 = $764Now look at the Call OI:๐ฅ Jul 17 $760C = 7,740 OI ๐ฅ Jul 17 $765C = 5,158 OICompared to:Jul 31 $760C = 3,275 OI Jul 31 $765C = 1,421 OIThe July 17 expiration has:โ 2.36x more OI at $760 โ 3.63x more OI at $765 โ Greater Gamma Influence โ More Dealer Hedging Pressure โ Stronger Price Magnet PotentialThe real story is the confluence:๐ 760 = Largest Call Wall ๐ 764 = Fib 2.0 Extension ๐ 765 = Secondary Call WallThat's a very tight 5-point target zone.If $SPDR S&P 500(SPY.US) can break and hold above $760, dealer hedging could help fuel a move toward the 764-765 area.Not a prediction.Just following the positioning, the Greeks, and the chart.๐ฏ Confluence Zone: 760-765#SPY #SPX #OptionsTrading #Gamma #Fibonacci #StockMarket #TradingTL;DR: July 17 currently appears to be the more attractive expiration for a Gamma-Driven move because the OI concentration at $760 - $765 is substantially larger, and it aligns almost perfectly with Fib 2.0 extension target of $764.
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