The SPY Options Chain-PUTS

As I was just reminded, this is options expiration week. Being retail investors/traders usually buy options and Wall Street usually writes them, we often see high open interest options pinned. So here's a look at where the action is on the bearish puts.

In red from $136-$142 open interest is negligible, in purple between $134-$135 open interest picks up a bit. In green from $123-$133, that's where we are seeing some very heavy open interest. As of now, anything under $132 would expire worthless so there seems to be some incentive to keep the SPY from dropping too much more before OP-EX Friday.

Just something to consider as we move along. I'll be checking these daily to see where volume and open interest are flowing.