What we see on our tradingview charts today with options overlay?
The anticipated minor bullish pullback happened today, but the bullish momentum faded by the end of the day. IV is rising as fear grows ahead of the data release.
All PUT pricing skews are back in the red on our board, with both short- and long-term puts overpriced, reflecting market fear and pessimism ahead of Friday’s unemployment data.
We might test or even fill the gap extending down to 5475 tomorrow.
If the price holds, we could see a strong bounce back toward the 3/8-4/8 region up to 5600.
If not, the next level down is around 5310, near 0/8.
My post from yesterday: https://www.reddit.com/r/options/comments/1f8djxj/fridays_spx_options_chain_already_priced_in/
https://i.redd.it/cjuj8tqrsumd1.png
Posted by TanukiTrade