Pinning the Calls

As I mentioned in the last post, today is options expiration day and it's typical for higher open interest contracts (calls) to be pinned. The highest open interest SPY calls are at $125 - 131,815 contracts. I'd expect those calls to be pinned and expire worthless.

From last night's trade ideas, RURL which is a trade on or toward the close has met the first condition of a reversal I was looking for by opening higher, gapping up. Now it needs to just close below $14.20, the further down the better.

SNY is acting well for the short trade, continuing to break that flag I showed you last night.

AZN already lost nearly 6% , it's a bit tough to enter, but if it closes below (46.60-support) it may see follow through downside so I still like this trade, only wish it was a day earlier.

The FBP long is holding its own this morning considering the broader market.

JSDA is also holding its own thus far, up in a down market.