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| Because if it did head down it would create that pattern that lowers implied volatility.
130 maybe?
There’s alot of open interest out until March, but not toooo much. And volume has been fairly muted. Maybe it slipped by me but I haven’t seen any explosive action
January opex coming up so I’d think with how high the price currently is, that it would retrace as we approach January 16. Max pain is currently 160 for 1/16 but there’s a lot more calls than puts so I’d think Mr market maker would want most of those calls going to zero.
Bar chart showing a gamma flip point at 155. And the game lately has been finding the gamma flip point and then the stock rallies on increased hedging pressure as market makers buy the rallies. But it can also lead to market makers selling the dips. I think gamma exposure is a pretty big deal when it comes to stock price movement
Also before any significant rally the stock has landed on the 200 day moving average at the least and it’s not there yet.
And the option chart has started the left side of the “u”. Googles kinda looked like this around early November, well not “kinda”, it was a spitting image of it. And then Google did a “v” shape recovery from there. But I haven’t seen them re use the same chart in a very long time. So instead of that “v” maybe it makes a “u”.
As far as seasonals go, last January it rallied fairly good until February.
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Ali baba
