Pre-Open Commentary | Feb 21, 25
Condensed Insight Before the Bell.
Structure + Gamma Levels:
Key Options Levels:
SPX TrendPhase:
Midterm Cumulative:
//Actionable Levels//
Resistance: 6164-67
Pivot: 6150.25
Support: 6085Key takeways:
Opex is definietly still in play and messes with our options metrics. That is why I don’t do radical moves on midterm positioning too much in that period.
Some changes on orderflow though, its more neutral than bearish but something to watch, especially after RTH open - is market going to attack on pivot? If it break it to the upside I will be looking for longs.
HPI is red as of now but its readings are still quite wide, due to opex most likely.
Notes:
Yesterday’s HPI signals and other option metrics.
Still high HPI readings causing “scalping” character of signals.
It will be interesting to see whether HPI gets to its normal state (around 100/-100) after opex, on monday.
I will make a separate post with results so far and potential strategies for HPI this weekend.
It seems that signals closer to RTH open are the most effective in sense of risk/reward (specifically first signals which come after 8:30 EST).
