At the very moment we saw big rejection in this golden pocket zone were in right now from the descending channel its been in for a while.
This tells me that the market makers are creating liquidity at this level potentially to revisit at a later date.
We could quickly see this go to $6.35 or $5.40 which I would be a major buyer at.
Still in the longer term bullish trend... for now.
Option contract positions from institutions are primarily short at 5-6 strike. BUT something very interesting to me is that the $8.50 strike has a lot of puts at open interest which might squeeze it over that level if they have to cover.
This tells me that the market makers are creating liquidity at this level potentially to revisit at a later date.
We could quickly see this go to $6.35 or $5.40 which I would be a major buyer at.
Still in the longer term bullish trend... for now.
Option contract positions from institutions are primarily short at 5-6 strike. BUT something very interesting to me is that the $8.50 strike has a lot of puts at open interest which might squeeze it over that level if they have to cover.
Trade active
That gap formed off fake news looks promising
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.