We may begin the countdown to OpEx from here for March Options, it is only 17 days from here. I don't like to be overly bearish or bullish because I hate MMs dirty tactics of trying to maintain prices at these levels. Ideally, you wanna be delta neutral in this kinda scenarios.
I was actually hoping that SPY finish the day with a high stochastics and RSI reading for a final capitulation tomorrow.....unfortunately that did not happen. Instead the readings point to a possible gap up or sideways actions tomorrow. Hence, I don't think that the major indexes are going to get very far to the upside or the downside.
Perhaps, if the range is wide enough...this could potentially become a daytrader's paradise.
If I were you, I will try to avoid the chop for a while unless I see a tradeable range.
Good luck.
Watchlist:
GS, POT, RIG, XOM
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