SPY Pin $142

While the $142 area seems to be the obvious pin, I just took a quick look at what the open interest looked like.

The range has been pretty locked in, I can't remember the last options expiration week that wasn't boring, you'd think they'd shake it up once in a while.

However technically where we are and why I think has more to do with making that move to the breakout high, even though volume is completely lacking and there's no follow through, it may just have been the best of both worlds for a pin and as we have seen so many times before, the more important a had fake move, the more effective it is, or "The bigger they are the harder they fall", it completely changes market psychology.

As for Calls, it wasn't too exciting, but PUTS had a lot more open interest.

 The thing that struck me about the calls was just the overall lack of open interest, not just around max pain, but everywhere.

Contrast that with the puts, much more activity.

 At $143 there's literally almost nothing there, but below it's quite busy, in fact I needed two captures.

Here's the second. That's a lot of contracts expiring worthless where Wall Street gets to keep the premium.