$SPX Today's Trading Range 12.5.24All right and in SPX today we have an implied move of 6055 to 6115 and that is from options
The 30 day average volatility is quite a bit wider 6005 to 6165
Friday’s contract the implied movies between 6040 and 6130
We are at all-time high here. We made all-time high yesterday in that final candle, so that is our first level to know above that the top of the implied movie 6115, 6130 on Friday’s contract and because the 30 day average volatility is quite a bit wider than the implied move. I like to find a strike that’s in between those two and Today that is 6140 that would be likely the safest strike
underneath us We do have the 35 EMA on the 30 minute timeframe. The 35 EMA is underneath the implied move which often signals a down or flat day right around that level. We also have that gap from yesterday which could use filling and 6055 is the bottom of the implied move. 60 Friday’s contract and again because the 30 day average volatility is much wider than the expected move. I like to add an extra strike in that case and that is 6030 for today.