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The most active put strike in $SPX has shifted down to 5875 in $ES_F terms, acting like a magnet and pulling price farther down. 🧲 Visual: SPX Options Visualizer https://t.co/I3TgAljpb0 https://t.co/GWTNExgb4f
We can see price continues to gravitate towards the most active $SPX put contract today, where it's trading 53K contracts so far, and a put/call ratio of 1.06 across the entire chain. Visual: $SPX Options Visualizer for @MotiveWave https://t.co/Kv6Z7auiG5
Another day with the most active strike on $SPX is the hot put and we're being drawn to it like a magnet. This is why the $SPX Options Visualizer that I built for @bookmap_pro and @MotiveWave can be incredibly helpful for daytraders. Knowing where price may be headed in advance. https://t.co/C8agbk0BjF
On November 15, 2024, the $SPX options market saw significant activity, particularly in put contracts. Over 91,000 put contracts were transacted, indicating a strong bearish sentiment among traders. The put/call ratio across the $SPX options chain was reported at 1.06, suggesting more volume in puts than calls. The most active put strike has shifted to 5875 in $ES_F terms, drawing price movement towards this level. Additionally, a gamma peak was noted, with a call gamma/put gamma ratio of 0.91 and a gamma flip point at 5946. Analysts expect dealers to remain long gamma as the expiration approaches, despite a significant amount of gamma rolling off, particularly tied to the 6000 strike.
