
The S&P 500 Index ($SPX) experienced significant volatility over the past two days, influenced by key economic data releases and options activity. On October 3, market participants anticipated a +/- 65 point move by the end of the week, with a focus on the 5700 level. The index fluctuated around this level, breaking below it and setting a new target of holding above 5680. Options pricing indicated a 1% move in response to the Non-Farm Payroll (NFP) jobs report, with implied volatility at 24%. The range for $SPX was noted between 5755 and 5630. On October 4, $SPX defended the 5700/5750 range, with significant options activity around the 5750 strike. The index eventually hit the 5750 level into the close, marking a notable move for traders who held positions. The 0DTE options and a double bottom pattern were also key factors in the market's movements.


$SPY Nice closing candles here.
$SPX 0DTE 5750C doing the same thing today https://t.co/PbfeqOe7eN
$SPX hitting 5750 strike into the close, wild move if held any butterflies... dont want to look at mine I sold for 100% win this morning lol just wanted to book it