Buyer Fatigue, Over Bought, Whatever!
Given the momentum a last thrust (maybe) to around 1525 odd levels. Feb 16th SPY Option expiry - 150 C 235658 P 271496 P/C 1.15; 151 C 119307 P 57027 P/C 0.48; 152 C 321649 P 20886 P/C 0.06. We know 80% of the time options expire worthless, so for market makers or traders (option sellers) to make money S&P has to close below 1500 on or before Feb 16th unless it is a short squeeze. Other points to ponder RSI / Price divergence, indicators overbought.
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