Pre-Open Commentary | Feb 20, 25
Condensed Insight Before the Bell.
Structure + Gamma Levels:
Key Options Levels:
SPX TrendPhase:
Midterm Cumulative:
//Actionable Levels//
Resistance: 6173-82
Pivot: 6147.5
Support: 6120Key takeways:
Opex is here and we can observe much higher readings on multiple option metrics. That includes new Hedge Pressure Index.
Opex level of interest is around 6100 (SPX)/6118(ES), it’s also today’s actionable support.
After adding to midterm long position yesterday there is nothing more to do today on that front.
Early option flows look bullish at this moment.
Notes:
Yesterday’s HPI signals and other option metrics. You can see much higher HPI coming into opex:
